Peru will seek to tax miners more when prices high

Peruvian Prime Minister Guido Bellido asked Congress on Thursday for legislative powers for the executive on tax matters as he seeks a first vote of confidence for the new cabinet of leftist president Pedro Castillo.

Bellido said that the government also plans to tap the excess profits of mining companies at times of high international prices of raw materials. Peru is the world’s second largest copper producer and mining is the engine of the Andean country’s economy.

(By Marco Aquino and Aislinn Laing)