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The Mining Program of Solidarity with the People (PMSP), known as mining voluntary contribution, to renew the agreement that expires next year.

“I think it’s interesting that this agreement be renewed because as the prices are high, we can renew those commitments are voluntary and temporary,” he said. Considered that the renewal of the voluntary contribution of a more viable alternative is to establish the application of a windfall tax on mining companies, as posed by some congressmen.

“Putting a royalty or tax windfall is permanent and can not know how prices fluctuate in the future,” he added. He said that if lawmakers are interested in submitting bills to levy a tax windfall from mining must be the result of a study with a view to long term and not based on the cyclical rise in mineral prices worldwide.

“The prices of metals may vary and, if they fall then how can we compensate for the losses?, So any initiative that will see must be analyzed in the long term,” he said. The deputy minister said the Peruvian government supports investment not to protect mining companies but to have income from income tax and mining royalties.

“That’s why we support business and if we put a very high tax (a windfall), then the mining revenues will drop,” he said after attending the World Economic Forum Bloomberg Peru.

Also stated that until March of this year have been approved Environmental Impact Assessment (EIA) and feasibility studies for various mining projects totaling 14,000 million dollars of investment, which should enter production in two years. He said that there is another group of mining projects by 26.000 million, which are in the process of maturation and will be specified within six years.

“We hope that some new projects to complete their process of public hearings this year and join the 14.000 million in projects that have feasibility” he said.

This mining company focused on the development and gold mining in Latin America, said he made the decision not to proceed with the proposed offering of its common stock, as announced on 14 May this year due to unfavorable caused by the recent market volatility in securities markets.

The CEO of Minera IRL, Courtney Chamberlain, said the credit line, with positive cash flow generated by the Corihuarmi gold mine will be used as part of the strategy to develop short-term projects, including programs current drilling.

The line of financing consists of two sections of ten million dollars each. The first leg is compromised by MBL and the second tranche will be subject to due diligence and necessary approvals prior to any disbursement.

Each section has two disbursements of credit, which allows the company to access funds in small amounts as long as necessary.

The line of credit with MBL is five million dollars, of which 2.5 million were amortized in the past and the balance of debt is refinanced comprising 2.5 million as part of the new credit line of 20 million.

In consideration of the service, MBL will be granted options whose exercise price of total common shares of Miner IRL, will be equivalent to the amount of paid online.

The price of the options are set before each disbursement on the basis of a price mechanism in place and the options expire on June 28, 2013. The issuance of the options is subject to regulatory approvals, including approval of the Toronto Stock Exchange.

MBL is a subsidiary of Macquarie Group Limited and is regulated by the Australian Prudential Regulation Authority (APRA) as an institution licensed as a bank.

The National Society of Mining, Petroleum and Energy (SNMPE) reported that mining companies are willing to take the initiative to extend for five years the voluntary contribution proposal has been made by the Ministry of Energy and Mines (MEM).

“In the area we have reached agreement to support the initiative of the MEM, as we think it is an appropriate measure,” said Vice President SNMPE, Carlos Santa Cruz.

He explained that the voluntary contribution for 2009, to be released this year, will be located in the 400 million new soles.

“That added to the 1.300 million suns that have been delivered over the past years make a total of around 1.700 million,” he said in the Tenth Tax Symposium Energetically.

In that sense, explained that the voluntary contribution is usually distributed in areas affected by mining projects that generate them.

“If we see its impact, we can mention that accumulated at the date this measure has implemented more than 1,500 projects nationwide on issues such as poverty, nutrition and education.”

He said the amount of the contribution will be this year is slightly lower than given in 2009, which is explained by the impact of global crisis in the sector.

“Next year is expected to recover to 2008 levels, because the pricing perspective we have now is better than last year,” said Santa Cruz.

During this period, Southern Peru Copper mining exports led to 1179.5 million, 98.26 percent more than it exported in the same period of 2009.

In second place was Antamina Mining Company, which exported by 1.021 million dollars, 82.80 percent, while Minera Yanacocha, third, minerals exported 739.06 million, which represented a fall of 7.54 percent.

Socialized Miner Cerro Verde exported in the first five months of 2010 minerals for a total of 640.6 million dollars, 60.62 percent more than the same period last year, ubicand2ose fourth.

In fifth place was Miscalculate Bar-rick, which exported by 616.2 million dollars, ie 26.4 percent between January and May 2009.

In sixth place was the company Coercion Miners with 566.8 million dollars (70.95 percent) in seventh place with 481.7 million AYS (540.65 percent) and in eighth place with 355.2 million Americanism Processing (35.38 percent more).

Universal Metal Trading was ranked in ninth place with 276 million dollars in exports of minerals (59.71 percent), while Company de Mina’s Bonaventure 166.9 million (7.52 percent) was in tenth place.

Within the framework of the bylaws and code of conduct governing the institution and its affiliates. He explained that called the incident occurred on June 25, SNMPE immediately asked his partner Caudalosa, a detailed report on the events in the district of Huachocolpa in Huancavelica region.

He also summoned urgently to its managers to explain about the contingency measures and the cleanup and remediation have been taken in the river and staircase in the area of ??influence of the mining unit. The company representatives have informed the directors of the SNMPE the events connected with this unfortunate incident.

As part of this process has begun SNMPE, the board has also ordered the execution of a technical evaluation to determine the causes of the incident, allowing the institution to make a decision against this case.

On the other hand, the union is awaiting the results of investigations on this fact the authorities are developing.

Such is the case of the Ministries of Energy and Mines (MEM) and the Environment (Minam), the National Water Authority (ANA), the Supervisory Agency for Investment in Energy and Mining (Osinergmin) and the Agency for Assessment and Control environmental (OEFA) and others as appropriate.

The SNMPE reiterated his call for the mining company Caudalosa to make the utmost effort in order to promptly repair the damage caused by the collapse of the sludge.