Voters in the world's No.2 copper producer Peru have a chance to set a new course in the presidential elections on Sunday - a polarized run-off between surprise socialist candidate Pedro Castillo and business-friendly conservative Keiko Fujimori. Here are their proposals for mining and the economy.
PEDRO CASTILLO
* Proposes a plebiscite to seek approval for drafting a new constitution, a more muscular state and the "nationalization" of strategic sectors of the economy such as mining and gas.
* New taxes on profits and royalties for the mining sector and the renegotiation of tax stability contracts with large companies in all sectors - a device long employed by the state to entice investors to the Andean nation.
* Fresh stimulus to help Peruvians dig out from the pandemic, including state-backed loans for the vulnerable and heavy investment in infrastructure.
* Agrarian reform to reign in "land grabbing and monopoly," and put a halt to "unfair" competition from imports that he says hobbles local industry and agriculture, especially garment manufacturers, dairy farmers and the footwear industry.
* A national network of gas pipelines with the aim of ramping up use of gas nationwide via subsidies and stronger regulation.
KEIKO FUJIMORI
* Proposes to maintain constitution's focus on free-market economy and respect for private enterprise, but proposes changes to boost the social safety net and improve the relationship between Congress and the presidency.
* Seeks to distribute 40% of the mining and gas taxes directly to local citizens so that they benefit directly from exploitation of natural resources.
* Proposes "solidarity contribution," or tax, on mining companies during times of high metals prices to finance development of agricultural sector.
* Temporary post-pandemic tax exemptions to reactivate some industries. Three years for tourism, two years for small and medium-sized businesses, plus $921 million in fresh funding for state-backed loans.
* Increase minimum wage, boost employment through public and private investment with eye toward reducing poverty to 15% in 2026.
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Factbox: Peru presidential candidates on mining and the economy - Reuters
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