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Mining industry

Fujimori Favors Windfall Tax in Peru's Mining Sector, Promises Increased Spending on Infrastructure

Strategic Insights

— 1 min read

Peruvian presidential candidate Keiko Fujimori has expressed support for implementing a windfall tax on mining companies, suggesting that the tax would be calculated to avoid hurting the country's competitiveness, particularly in comparison to Chile. This stance is in line with her opponent, left-leaning nationalist Ollanta Humala, who has also advocated for a windfall tax in the mining sector. Meanwhile, Fujimori has emphasized her commitment to Peru's current market-friendly economic model, which has attracted investments and created confidence. She has also pledged to increase spending on infrastructure projects, such as water, electricity, and roads, in contrast to her opponent's plan for increased state control of the economy.

Key Takeaways:

  • Fujimori favors implementing a windfall tax on mining companies in Peru, calculated to avoid hurting the country's competitiveness.
  • The windfall tax would benefit Peruvians by ensuring they feel the benefits of the country's rich mineral resources.
  • Fujimori has committed to maintaining Peru's current market-friendly economic model, which has attracted investments and created confidence.
  • Fujimori has pledged to increase spending on infrastructure projects, including water, electricity, and roads.
  • Humala has outlined a plan for increased state control of the economy, differing from Fujimori's approach.
  • Fujimori has promised to avoid repeating the errors of her father's authoritarian administration, including Alberto Fujimori's human rights violations and other crimes.
  • Fujimori has an MBA from Columbia University and has served as a member of Congress.
  • A recent poll by Ipsos-Apoyo showed Humala with 42% of voter intentions compared to 36% for Fujimori, with 12% undecided and 10% planning to leave their ballots unmarked or void them.

Statistics:

  • Peru is the world's largest producer of silver.
  • Peru is the second-largest producer of copper.
  • Peru is a large-scale miner of gold, zinc, tin, and other minerals.
  • Humala has 42% of voter intentions, according to a recent Ipsos-Apoyo poll.
  • Fujimori has 36% of voter intentions, according to the same Ipsos-Apoyo poll.
  • 12% of voters are undecided, according to the Ipsos-Apoyo poll.
  • 10% of voters plan to leave their ballots unmarked or void them, according to the Ipsos-Apoyo poll.
  • Voting is mandatory in Peru.

Sources:

  • Dow Jones Commodities News Select via Comtex (April 25, 2011)
  • Ipsos-Apoyo poll (April 10, 2011)

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