Monday, May 20, 2024
Update At 14:00    USD/EUR 0,92  ↓-0.001        USD/JPY 155,77  ↑+0.152        USD/KRW 1.355,87  ↑+4.05        EUR/JPY 169,49  ↑+0.255        Crude Oil 84,06  ↑+0.08        Asia Dow 4.027,83  ↑+18.98        TSE 1.810,50  ↓-11        Japan: Nikkei 225 39.147,71  ↑+360.33        S. Korea: KOSPI 2.737,73  ↑+13.11        China: Shanghai Composite 3.166,08  ↑+12.0486        Hong Kong: Hang Seng 19.650,18  ↑+96.57        Singapore: Straits Times 3,39  ↑+0.009        DJIA 22,50  ↑+0.0593        Nasdaq Composite 16.685,97  ↓-12.333        S&P 500 5.303,27  ↑+6.17        Russell 2000 2.095,72  ↓-0.5318        Stoxx Euro 50 5.064,14  ↓-8.31        Stoxx Europe 600 522,94  ↓-0.68        Germany: DAX 18.704,42  ↓-34.38        UK: FTSE 100 8.420,26  ↓-18.39        Spain: IBEX 35 11.327,70  ↑+28.4        France: CAC 40 8.167,50  ↓-20.99        

Minas Buenaventura. Mining giant urges rural infrastructure development

Article - October 17, 2012
Buenaventura (Compañía de Minas Buenaventura, S.A), the largest publicly traded mining company in Peru, is one of the world's major gold and silver producers. Last year, its equity gold production was 1.04 million ounces and total revenues rose 41% to $1.5 billion
The company’s shares are quoted on the New York Stock Exchange, where it currently has a market capitalization of over $10 billion. 

Mining is a key sector in Peru, accounting for 32% of tax revenues and 70% of exports in 2011. However, the sector’s contribution to Peru’s development has come under scrutiny in recent years, causing the government to adopt a new royalty scheme. In 2010, $1.47 billion of mining taxes and royalties were funnelled into sustainable development programs in the mining regions.

Roque Benavides Ganoza, President and Chief Executive Officer of Minas Buenaventura, agrees that the industry should do more to aid the development, especially in rural areas.

“Mining accounts for about 15% of GDP, but above all, what we export gives us resources to import,” he explains. “Mining in Peru usually takes place in rural areas and we are doing a lot to improve infrastructure in these parts. Peru must develop its natural resources because it contributes to the creation of more infrastructure and jobs in rural areas. It is said that the difference between a developed and a developing country is in infrastructure. We need to develop infrastructure in those areas.”


El Chivo de la Vieja Lorenza.
13/09/2013  |  18:48
100% of 1

Solo hay un Buenaventura... y esta en Colombia, viva el Valle del Cauca omeee!!!