https://www.miningweekly.com

Peru's Congress backs new cabinet after government announces new funding for mining

4th April 2024

By: Reuters

  

Font size: - +

LIMA - Lawmakers in Peru voted to support the government's new slate of ministers on Wednesday, just hours after the prime minister promised billions of dollars in new spending, including for mining projects.

The vote of confidence in President Dina Boluarte's latest Cabinet passed by a lopsided margin of 70 votes in favor and only 35 opposed, and came on the heels of recent corruption charges that implicate the mining-dependent country's embattled leader.

All of her ministers would have been forced to resign if the cabinet failed to win congressional backing.

Earlier in the day, Prime Minister Gustavo Adrianzen offered the spending plan in a speech to Congress, which included $4.6-billion for mining and some $8-billion for public-private partnerships.

Peru is a top global copper producer, and taxes on the sales of the red metal are a key source of government revenue.

Boluarte's government has been shaken by allegations that she improperly acquired luxury Rolex watches along with other claims of illicit enrichment. Boluarte has denied all wrongdoing.

Nearly a third of the government's ministers resigned on Monday following a weekend police raid of the president's residence, raising the pressure on Boluarte, who took office in 2022 as Peru's sixth president in just six years.

A recent poll showed that Peru's Congress only commands about 9% approval in the South American nation, similar to Boluarte's dwindling public support.

The president's situation grew more complicated on Tuesday, when the prosecutor's office expanded its investigation into bank deposits of "unknown origin" as well as Boluarte's acquisition of a Cartier bracelet worth tens of thousands of dollars.

In his address to lawmakers, the prime minister added that the government expected this year to finalize a move to improve commercial ties with China, part of a free trade agreement signed in 2009 that has boosted exports notably of Peruvian mining products.

Negotiations to amend the treaty began in 2019.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ASTPM
ASTPM

Established in 1983, the ASTPM is an industry association and representative body of the welded carbon steel tube and pipe manufacturers of South...

VISIT SHOWROOM 
AirNox Pty Ltd
AirNox Pty Ltd

AirNox (Pty) Ltd is a level 1 BBBEE manufacturer of complete AdBlue® solutions for operators of SCR diesel engines and AUS40 across South Africa...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.044 1.095s - 110pq - 2rq
Subscribe Now