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1ro de abril de 2009 | |

Artificial Life Belt

Peruvian government will grant millon-dollar aid to Doe Run to prevent its bankruptcy

Length: 1:54 minutes
Descargar: MP3 (1.3 MB)

US mining company, Doe Run, which is carrying out in Peru one of the biggest metal operations in the continent, is about to collapse. In order to prevent that, the Peruvian government is willing to grant them tens of millions of dollars from public funds.

Doe Run operations in Peru include the production of metal concentrates like copper, zinc, gold, silver and lead, in addition to the operation of La Cobriza copper mine. The company argues that the fall in the price of metal and the investment it had to do in order to comply with the environmental regulations are the main reasons that could lead the company to bankruptcy.

According to what José Mogrovejo, Environmental Issues Vicepresident at Doe Run told the National Coordinator of Radio in Peru, the mining company requested the Peruvian government a 150 million dollar loan to comply with the Environmental Adjustment and Management Plan in La Oroya city, which is among the ten most polluted cities of the world.
Mogrovejo said the mining company committed itself to comply with the environmental plan if they obtained public financing, although it had previously asked for five extensions in the deadlines to comply with their responsibilities.

But it is possible that the final amount of money requested by Doe Run to the Peruvian government is even doubled. Despite the fact that the governmental authorities refused to state how much of the public funds will be given to the company, Peruvian Labour Minister stated that the Executive Branch planned to help the company economically, so as to not lose the 12 thousand jobs that depend on the company.

Imagen: http://www.labor.org.pe

(CC) 2009 Radio Mundo Real

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