Peru Seeks 30 Year Sentence For Ex-Owner Of Peruvian Airlines

A Peruvian state attorney is seeking a 30 year prison sentence for businessman Cesar Cataño, the former owner of airline company Peruvian Airlines, for money laundering, newspaper El Comercio reported. The Public Prosecutor’s Office accuses Cataño of laundering money from drug trafficking through a number of companies. El Comercio says these companies include Kanawaga Corporation SAC, Import Export Vizcar [...]

Report: Iran’s Ahmadinejad Plans Trip To Peru

Iranian President Mahmoud Ahmadinejad plans to visit Peru during an upcoming tour of South America, RPP radio reported. Ahmadinejad plans to visit Brazil, where he will meet with President Dilma Rousseff, “soon,” according to RPP, which cited an Iranian news agency. During that trip, he will visit other countries, including Peru, RPP said, without

Consultants Hand In Review On Newmont’s Minas Conga

Three international consultants charged with reviewing Newmont Mining’s multi-billion dollar Minas Conga copper-gold project have turned over their findings to the Peruvian government. Cabinet Chief Oscar Valdes and top government officials received the report during a press conference on Tuesday. Authorities and the consultants did not provide many details about the findings, adding that the full [...]

Humala Meets With Newly-Appointed World Bank Chief

President Ollanta Humala met with the newly-appointed president of the World Bank, Dr. Jim Yong Kim, on Monday. Humala’s meeting with Kim came on the same day that the World Bank’s board announced that the 52-year-old president of Dartmouth College would become the head of the international development organization later this year. The World Bank [...]

Peru’s GDP Rises 7.18 Percent In February

Peru’s economy grew by 7.18 percent in February, its fastest rate of growth since last August, the government said. The National Institute for Statistics and Information (INEI) said that construction led growth for the month, rising 14.03 percent, as domestic demand was boosted among an increase in public-sector investments, state news agency Andina reported. The [...]

Humala: Gov’t Aiming For “Zero Cost” To Shining Path Kidnapping

President Ollanta Humala said Thursday that Peru’s security forces are looking to resolve the kidnapping of up to 40 natural gas workers by suspected Shining Path rebels with “zero cost” to the hostages. “We are taking into account the life of the workers,” said Humala, according to daily El Comercio. Humala’s comments were his first [...]

Doe Run Peru’s Creditors Turn Down Restructuring Plan, Support Liquidation

Creditors of Doe Run Peru, the metals producer that has operated the La Oroya metallurgical complex since 1997, turned down the company’s restructuring plan and opted instead for “liquidation in process,” the government said. The creditors met Thursday to vote on the restructuring plan. Rosario Patiño, the legal representative of the Mines and Energy Ministry, which [...]

Report: Shining Path Seeks $10 Million Ransom For Kidnapped Workers

Shining Path rebels, suspected of kidnapping natural gas workers on Monday, have reportedly demanded a $10 million ransom, explosives, and clothes in exchange for the hostages, daily El Comercio reported. The workers —between 36 and 40— were kidnapped early Monday morning in Kepashiato, a town located in the province of La Convencion in Cusco region. [...]

Minas Conga Opponents Hold Protest Awaiting Environmental Review

Opponents of the huge Minas Conga copper and gold project in Cajamarca region held a 24-hour protest on Wednesday, only days ahead of when the government is expected to make public a review by three independent consultants on the project’s environmental viability.  The review was handed in to the government at the end of last [...]

Peru’s Non-Traditional Exports To Canada Seen Up 20 Percent This Year

Peruvian non-traditional exports to Canada, the country’s fourth biggest trade partner, could rise by more than 20 percent this year thanks to a free trade agreement that came into force in 2009, a top Peruvian government official said. Jose Luis Silva, Peru’s Trade and Tourism Minister, said that Peru’s non-traditional exports to Canada have increased [...]

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