Canon mining reported in this 2018 its best record of the last four years
• Transfer to the regions this year amounted to 3,158 million soles, surpassing in 70% of what was reported in 2017
• Áncash received the highest amount transferred with S / 1,085 million, followed by Arequipa with S / 532 million and La Libertad with S / 259 million, respectively.
A very good news: the transfers of resources generated by mining to the regions in 2018, as a mining canon, rose this year to 3,158 million soles, an amount that exceeded in 70% the amount registered in 2017 (S / 1,863 million), reported the Ministry of Energy and Mines (Minem).
2009-2018: Transfer to the regions for the concept of Canon Mining
Source: Ministry of Economy and Finance, Portal of Economic Transparency
This excellent result is the best recorded in the last 4 years, reflecting a sustained recovery of mining production in Peru, and also due to the rise in the price of metals in the international context.
It should be noted that the mining canon distributed by the Ministry of Economy and Finance (MEF) corresponds to 50% of the Income Tax obtained by the State and paid by the owners of the mining activity for the use of mineral resources in the fiscal year 2017. These transfers are distributed as of the month of July.
At the regional level, the one with the highest amount transferred was Áncash with S / 1,085 million; in the second place Arequipa was located with S / 532 million, followed by La Libertad with a transfer of S / 259 million registered in the northern region.
Likewise, the region that reported the most significant interannual growth was Huánuco, with a variation of 242%.
It is important to highlight that the contribution of the mining activity to the public treasury and the transfer of resources to the regions (mining canon, mining royalties and payment by right of validity and penalty), allow the financing of projects and public works in those regions where there are mining operations.