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A huge investment reaches Apurímac
Saturday 4 September, 2010

Good news: the biggest investment of U.S. history comes to Apurimac, one of the poorest regions, through contract Swiss mining company Xstrata to develop the mining project Bambas.

When this investment is realized, will Bambas a major copper mines in the world and the largest in Peru. The amounts and scale exceed the proposed gas liquefaction Melchorita that Peru LNG opened in June this year, and which invested U.S. $ 3,800 million.

Peru must ensure that investments continue to reach this size or larger, provided they comply with the legal system-matched their interests and rights of communities and respect the environment.

In this context, business is welcome, it not only benefits those who perform it but also activates a virtuous poverty.

generate Bambas 3,600 jobs and give priority to hiring the same people in the region. Once operational in 2014, the mine will distribute up to $ 300 million in mining royalties to Apurimac, which either used by regional and local authorities, should improve the quality of life for its residents.

That should be the goal. Apurimac region has a poverty rate of 70% (only surpassed by Huancavelica, with 77%), when the national average is 34.8%. Hence, it is so important investment of U.S. $ 4,200 billion announced by the Swiss company Xstrata.

Fortunately, this is not the only project scale mining in the region. There is also the project's iron Australian company Strike Resources and Dyer Group with an investment of about U.S. $ 2,300 million for the next five years.

For Xstrata, we must remember that although the contract was signed two days ago, the company came to the region in 2004, when he won the tender launched by Pro Investment to develop the mining project. At that time, offered three times the base price ($ 121 million) and also provided $ 47 million to Pro Investment as part of a trust to run development projects in communities and Cotabambas Grau.

addition, Xstrata has developed a strong social responsibility program, was concerned to engage with communities that are impacted by the mining project and accompanied the authorities in the generation of sustainable development projects.

We highlight these samples of social responsibility, dialogue and respect for the environment and the environment, they must be encouraged to ensure the business operation and conflict prevention. We are a mining country, but with a wealth of natural resources we preserve and protect.

In sum, responsible mining, boosting local economies and avoid damaging the environment, Peru can consolidate and strengthen the fight against poverty.