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Gold/Mining/Energy : Copper - analysis

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To: Robert Douglas who wrote (161)	7/15/2000 1:41:51 PM
From: russwinter	Read Replies (1) of 2131

More supply constraints? Bad news (or good if you're long metals) from Peru. Having spent some time there, this smells like an instrument for corruption and extorting from miners and explorers. Peruvians love that kind of set up. Peru Congress OKs controversial changes to mining regulations Lima--July 14--Peru's ruling party-dominated Congress approved a law that eliminates incentives for mining firms to reinvest their profits. Another measure, making the holding on to mining claims more expensive, also passed. Both measures have been harshly criticized by the mining industry, which is responsible for some 50% of Peru's overall exports.

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