Analysis:
Peru is known
for the world’s third largest production, copper. It is projected that its
production of copper could triple by 2015. Mining within Peru is expected to
boom as some projects they are working on completes in the next couple of years.
The mining sector could pull in half of all investments in Peru over this time period
of two years. The reliance and optimism regarding mining and all the possibilities
it offers Peru is in disregard that the vast majority of the projects they have
in progress are Chinese owned. But even with all of this promise to bring in
new money to Peru, it has been noted that currently nearly seven and a half million
people live in absolute poverty in Peru.
Response:
When
discussing the mining to be done in Peru, it was looked over that the mining
was illegal. $3 billion worth of gold mining is illegally being done to bring
in a profit to the country as well as others who they are in business with. With
such high numbers of impoverished people in Peru, it is understandable why now
more than ever it is necessary to try to improve their equity market. Peru is
in competition with so many other countries, for trade of goods produced from
mining, it seems their illegal efforts may not only fall short of what they
need, but also put them into much more financial trouble. Peru is in need of
legitimized means to experience a surplus in finances and improve the lives of
their people.
Date and time: March 7, 2014 12:54 pm
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