Top News from Peru

Top News From Peru: May 10-16, 2010

Peru News

Goldfields announces major mineral find in Peru

Gold Fields says the Canahuire deposit has an estimated mineral resource of 5.6 million gold equivalent ounces and its share price immediately rose on the news. Gold Fields owns 51% of the project, while its joint venture partner, Cia. de Minas Buenaventura SA, owns the rest. The find includes Gold, Copper and Silver in southern Peru. The Canahuire deposit is one of several targets in the 12,700 ha CPA, which is on average 4,800 m high and located in the Altiplano area of southern Peru, 120 km northeast of the city of Moquegua. Both joint venture partners have independently consolidated a significant portfolio of concessions adjacent to the CPA and are advancing exploration on these concessions.

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Peru: Surveys show disapproval of President Garcia reaches 61 percent in Lima.

An average of 61% of Metropolitan Lima population disapprove the work of President Alan Garcia, while 34% approve it, according to the latest survey conducted by the Public Opinion Institute of the Pontificia Universidad Catolica del Peru. The survey reveals that dissatisfaction increased by three points compared to April, and is higher in women aged more than 45 from poor socioeconomic sectors. The highest peak of disapproval that Garcia has faced during his office reached 71%, registered in Oct. 2008, when the corruption scandal called “Petrogate” unveiled. This case involved former state Minister Rómulo León APRA and the former Director of Perupetro, Alberto Quimper.

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Peru: Lima’s Electric Train will start trial runs next year

Same as the Metropolitano buses, a series of tests will be performed with the Electric Train starting in April 2011, seeking to begin operations on July 2011.  Those tests will allow fine tuning of technical details to guarantee normal functions. The trials will go from Villa El Salvador to Grau Avenue in Cercado de Lima. “Everything must work 100%. The train has an exact frequency to arrive at all points and we have to test it,” said Oswaldo Plascencia, Executive Director of the Electric Train Autonomous Authority (AATE).  According to Plascencia, they expect the trains to have a frecuency of six minutes between each train and the next one, wich means at least 15 operating trains.

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Piura News

Piura’s Biodiversity

Three hundred children from diverse areas of the Piura region, created paintings in support of biodiversity conservation in partnership with the Narwalac Association to celebrate 2010 as “The International Year of Biological Diversity”. The Association’s plastic artists worked to motivate artistic creation and motivation in the children.The activity’s objective was to contribute to awareness of the importance of biodiversity conservation in the region and to promote alternative, educational spaces for children’s development. Some of the children’s drawings will be selected to create the collage: “Mega-diverse Piura” – open for display May 22 in the Ignacio Merino Plaza.

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Banking Services Prove to be Biggest Source of Consumer Complaints

Compared to the national level, the banking services of Piura receive the largest number of complaints in the region, reports the Regional Director of the Institute of Consumer and Intellectual Property Defense, Danial Navarro. From January – April 2010, the office received 275 complaints. 39% of these (or 107) were complaints against banks and credit unions. The principal complaint is that these entities practice illegal reporting and collection techniques as well as omit information from consumers. The auto industry received the next highest level of complaints (at 9%) which were focused mainly on safety issues. These were followed by an 8% (or 21 complaints) complaint rate directed at educational services.

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