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PERU: Congress Fires Energy & Mines Minister, Mining Protests Continues

PERU
BulletPeruEM BulletEmerging Market News
  • Congress voted to fire energy and mines minister Romulo Mucho yesterday over a bill the government introduced last week to increase oversight on informal miners that has prompted nationwide protests. The motion approved by Congress said Mucho was not suitable to solve the problem of small-scale and artisanal miners in the country. President Boluarte is yet to name a new minister to replace Mucho.
  • Against this backdrop, protestors were said to have blocked eight highways in the country yesterday, according to the highway authority Sutran, including the key mining road from the Las Bambas mine, used to ship copper concentrate. The Pan-American highway was also reported to have been blocked.
  • Today, no macro data or major events are expected. The next scheduled data publication is November CPI inflation, due on Dec 1, followed by the BCRP interest rate decision on Dec 12.
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  • Congress voted to fire energy and mines minister Romulo Mucho yesterday over a bill the government introduced last week to increase oversight on informal miners that has prompted nationwide protests. The motion approved by Congress said Mucho was not suitable to solve the problem of small-scale and artisanal miners in the country. President Boluarte is yet to name a new minister to replace Mucho.
  • Against this backdrop, protestors were said to have blocked eight highways in the country yesterday, according to the highway authority Sutran, including the key mining road from the Las Bambas mine, used to ship copper concentrate. The Pan-American highway was also reported to have been blocked.
  • Today, no macro data or major events are expected. The next scheduled data publication is November CPI inflation, due on Dec 1, followed by the BCRP interest rate decision on Dec 12.