Peru Election 2021, page-32

"Direct impact on miners rather than explorers" https://hotcopper.com.au/posts/53704361/single

Hi @Kalenn

I don't have any issue with the people of a country getting a healthy share of the value of their assets. This is a good thing and the best chance in many countries of gaining the capital to build a better nation (if they can organise to do so).

In this case it seems that there might potentially be a rewrite of their mining code to meet the populist candidate's goals. I've been through this in recent years in Tanzania with STA, and seen similar a number of times before. Even where the outcome has been tolerable (eg Tanzania likely now), I don't recall any case where explorers haven't been caught up in it with miners.

No one likes uncertainty and capital doesn't flow freely to exploration where the extractive value of a resource is not clear. It looks like the parliament might be able to ameliorate the populism which would be good but I wouldn't assume that we'd be safe from investors sheltering from Peru. Fortunately we have our awesome Australian projects to protect us (as did STA).