Latest news with #Peruvians
Hamilton Spectator
6 days ago
- Business
- Hamilton Spectator
Cerro de Pasco Resources Common Shares Begin Trading on the Lima Stock Exchange
MONTRÉAL, July 23, 2025 (GLOBE NEWSWIRE) — Cerro de Pasco Resources Inc . (TSXV: CDPR) (BVL: CDPR) (OTCMKTS: GPPRF) (FRA: N8HP) ('CDPR' or the 'Company') is pleased to announce that its common shares began trading on the Lima Stock Exchange ('BVL') on July 17, 2025. Kallpa Securities S.A.B. in Lima, Peru acted as sponsoring broker for the BVL listing. This milestone forms part of CDPR's strategy to broaden its presence in Latin America and increase visibility among regional investors. The Company's primary listing remains on the TSX Venture Exchange (TSXV). Executive Commentary 'Cerro de Pasco is emblematic for Peruvians — it's known as the 'Capital Minera,' or 'Mining Capital,' as proudly stated at the city's entrance,' said Guy Goulet, CEO of CDPR. 'Listing on the Lima Stock Exchange is a natural step for us. It connects CDPR with a broader base of investors who understand the history, significance, and long-term potential of this region. There is strong institutional interest in Lima, and this listing allows us to build relationships with local funds and stakeholders who care deeply about the future of Cerro de Pasco.' About Cerro de Pasco Resources Cerro de Pasco Resources is focused on the development of its principal 100% owned asset, the El Metalurgista mining concession, comprising silver-rich mineral tailings and stockpiles extracted over a century of operation from the Cerro de Pasco open pit and underground mine in central Peru. The Company's strategy entails the reprocessing and environmental remediation of historic mining waste, unlocking value while supporting sustainable development. The asset represents one of the world's largest above-ground metal resources. For more information, please visit: Further Information: Guy Goulet, CEO Telephone: +1-579-476-7000 Mobile: +1-514-294-7000 ggoulet@ Donna Yoshimatsu, Senior Strategic Advisor / Investor Relations Mobile: +1 416-722-2456 dyoshi@ Forward-Looking Statements and Disclaimer Certain information contained herein may constitute 'forward-looking information' under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, 'will be', 'expected' or variations of such words and phrases or statements that certain actions, events or results 'will' occur. Forward-looking statements, including the expectations related to the Corporation's objectives, goals or future plans, including the budgeted work program, are based on the Corporation's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Corporation will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
UPI
17-07-2025
- Politics
- UPI
Peru shows signs of institutional crisis similar to Ecuador's
Public trust in institutions continues to erode. According to polls conducted in June, only 4% of Peruvians approve of President Dina Boluarte's performance. File photo by Santiago Fernandez/EPA July 17 (UPI) -- Peru's Congress has passed a controversial law granting "humanitarian" amnesty to nearly 900 military and police officers convicted or facing charges for serious human rights violations committed between 1980 and 2000 -- as long as they were not sentenced for terrorism or corruption and are overage 70. The law, passed July 9 and widely condemned by human rights groups, would leave more than 150 convictions unpunished and halt more than 600 ongoing cases. Analysts say it adds to a growing list of congressional measures that have deepened Peru's institutional crisis and eroded its democracy. "Democracy in Peru is being undermined from within -- by the very democratic institutions that have failed to resolve the country's longstanding problems," said Max Hernández, executive secretary of the National Accord, a dialogue forum that brings together the government, political parties and civil society organizations to establish long-term state policies for sustainable development. "Never before in Peru have the branches of government been so weakened and at odds with each other as they are now," political analyst Coco Salazar said. "The executive branch is in conflict with the judiciary, the judiciary with Congress and Congress with the executive. All branches are at odds and trying to undermine one another. "Today, for example, Congress filed a new constitutional complaint against the attorney general. Yesterday, President Dina Boluarte convened the National Security Council to address public safety issues and invited everyone -- except the attorney general's office, which is a key member of the Council." Public trust in institutions continues to erode. According to polls conducted in June, only 4% of Peruvians approve of Boluarte's performance. Support for Congress is even lower -- just 2% approve of its work, while 95% disapprove. The attorney general's office reports that 67 of Peru's 130 lawmakers being investigated for crimes that include corruption, organized crime, money laundering, aggravated collusion and homicide. The accused come from nearly every political party. Some, like Luis Picón of Podemos Perú and Alejandro Soto of APP, face dozens of open case files for a range of alleged offenses. But analysts say the greater concern is not just the number of lawmakers under investigation -- it's how Congress is using its power to weaken oversight, protect the accused and guarantee impunity. That pattern mirrors what happened in Ecuador between 2018 and 2022: a weakened state, criminal infiltration of politics and the dismantling of judicial institutions. As a result, the country went from having one of the lowest homicide rates in South America to leading the region in 2024, with more than 8,000 killings in a single year, according to official data. Between 2023 and April, Peru's Congress approved 34 laws and legislative measures aimed at weakening the rule of law, particularly the state's capacity to combat corruption and organized crime, according to a recent report by Human Rights Watch. "Ideally, Congress should be made up of the country's best technical and political minds to help build the nation and uphold democracy. That doesn't happen in Peru because traditional political parties no longer exist," Salazar said. A combination of long-term decline, corruption scandals and a lack of internal renewal has contributed to the collapse of political parties.. In the 1990s, the regime of Alberto Fujimori promoted an anti-party narrative that weakened the political system. That was followed by high-profile judicial scandals involving prominent figures such as former President Alan García, along with the parties' failure to adapt to new social demands. Amid institutional weakness, so-called "rental parties" emerged -- temporary electoral platforms with no ideology or structure. Electoral rules were loosened, lowering the bar for candidate and party registration and fueling fragmentation and the rise of outsiders and media personalities with no institutional ties. Today, Congress has been taken over by groups representing specific economic interests, such as those tied to illegal mining, who lobby to block regulation, Salazar said. He added that this has contributed to political instability and the growing reach of organized crime in public life. "One of the issues we're working on in the National Accord is how to preserve democracy. I believe we need to trust young people who are thinking about how to prevent corruption and strengthen political participation -- something that has been neglected in recent years," Hernández said. Peru is to hold presidential and congressional elections in April 2026, with at least 43 presidential hopefuls and nearly 15,000 congressional candidates -- a reflection of the country's deep political fragmentation.
Miami Herald
09-07-2025
- Politics
- Miami Herald
Peru's Congress weakens fight against organized crime, watch group says
July 9 (UPI) -- Human Rights Watch has warned that Peru's Congress is seriously undermining the judicial system's ability to combat organized crime by passing laws that weaken judges, prosecutors and key institutions. In a 44-page report released Tuesday, the organization said recent legislative actions have obstructed criminal investigations, advanced private interests and reversed progress on environmental protections. The Human Rights Watch report, titled Legislating for Impunity, said President Dina Boluarte's administration enabled the congressional agenda by failing to block the reforms and relying primarily on repeated states of emergency in response to rising crime -- measures that suspend constitutional rights without producing effective results against violence or the expansion of criminal networks. Security conditions in Peru have deteriorated sharply. Between 2018 and 2024, homicides rose 137%, according to the National Police. More than half of the killings recorded in 2024 were carried out by hired killers, and preliminary figures for 2025 point to a new record. The country also has seen a sustained wave of extortion -- particularly in urban areas and the cargo transport sector -- that reached historic levels in 2023 and continues to rise. Between 2023 and 2024, Peru's homicide rate increased 75% -- the highest in Latin America -- according to Juanita Goebertus, director of the Human Rights Watch Americas Division. She said Congress, with backing from the executive branch, has taken steps that weaken the few tools the state has to combat organized crime. The report outlines how Congress has undermined judicial independence and weakened the ability of prosecutors and judges to operate effectively. Among other measures, lawmakers have limited plea agreements -- an essential tool for dismantling criminal networks -- redefined 'organized crime' in the penal code to exclude corruption offenses, obstructed search warrants and promoted the arbitrary removal of judges investigating sensitive cases. Congress also has passed legislation that weakens environmental protections, the report said, including laws that retroactively legalize large-scale illegal deforestation and shield illegal miners from criminal prosecution. Illegal mining -- especially small-scale gold mining -- has surged in recent years and is now the leading offense linked to money laundering. According to government data, 44% of the gold Peru exports comes from illegal mining, an industry estimated to generate $12 billion a year. Freedom of expression and the work of civil society organizations also are under threat. In March 2025, Congress passed a law expanding state oversight of journalists and Non-governmental organizations that receive international funding -- a move Human Rights Watch describes as an attempt to restrict public scrutiny and independent activity. Public trust in institutions continues to erode. According to polls conducted in June, only 4% of Peruvians approve of President Dina Boluarte's performance. Support for Congress is even lower -- just 2% approve of its work, while 95% disapprove. More than half of lawmakers are under investigation for corruption or other crimes. Copyright 2025 UPI News Corporation. All Rights Reserved.
UPI
09-07-2025
- Politics
- UPI
Peru's Congress weakens fight against organized crime, watch group says
Public trust in institutions in Peru continues to erode. According to polls conducted in June, only 4% of Peruvians approve of President Dina Boluarte's performance. File Photo by Santiago Fernandez/EPA-EFE July 9 (UPI) -- Human Rights Watch has warned that Peru's Congress is seriously undermining the judicial system's ability to combat organized crime by passing laws that weaken judges, prosecutors and key institutions. In a 44-page report released Tuesday, the organization said recent legislative actions have obstructed criminal investigations, advanced private interests and reversed progress on environmental protections. The Human Rights Watch report, titled Legislating for Impunity, said President Dina Boluarte's administration enabled the congressional agenda by failing to block the reforms and relying primarily on repeated states of emergency in response to rising crime -- measures that suspend constitutional rights without producing effective results against violence or the expansion of criminal networks. Security conditions in Peru have deteriorated sharply. Between 2018 and 2024, homicides rose 137%, according to the National Police. More than half of the killings recorded in 2024 were carried out by hired killers, and preliminary figures for 2025 point to a new record. The country also has seen a sustained wave of extortion -- particularly in urban areas and the cargo transport sector -- that reached historic levels in 2023 and continues to rise. Between 2023 and 2024, Peru's homicide rate increased 75% -- the highest in Latin America -- according to Juanita Goebertus, director of the Human Rights Watch Americas Division. She said Congress, with backing from the executive branch, has taken steps that weaken the few tools the state has to combat organized crime. The report outlines how Congress has undermined judicial independence and weakened the ability of prosecutors and judges to operate effectively. Among other measures, lawmakers have limited plea agreements -- an essential tool for dismantling criminal networks -- redefined "organized crime" in the penal code to exclude corruption offenses, obstructed search warrants and promoted the arbitrary removal of judges investigating sensitive cases. Congress also has passed legislation that weakens environmental protections, the report said, including laws that retroactively legalize large-scale illegal deforestation and shield illegal miners from criminal prosecution. Illegal mining -- especially small-scale gold mining -- has surged in recent years and is now the leading offense linked to money laundering. According to government data, 44% of the gold Peru exports comes from illegal mining, an industry estimated to generate $12 billion a year. Freedom of expression and the work of civil society organizations also are under threat. In March 2025, Congress passed a law expanding state oversight of journalists and Non-governmental organizations that receive international funding -- a move Human Rights Watch describes as an attempt to restrict public scrutiny and independent activity. Public trust in institutions continues to erode. According to polls conducted in June, only 4% of Peruvians approve of President Dina Boluarte's performance. Support for Congress is even lower -- just 2% approve of its work, while 95% disapprove. More than half of lawmakers are under investigation for corruption or other crimes.
Yahoo
04-07-2025
- Business
- Yahoo
'It's a joke': Peruvians outraged after president doubles her salary
By Marco Aquino LIMA (Reuters) -Peruvian President Dina Boluarte will double her salary to the equivalent of some $10,000 per month, angering many Peruvians who said the money would be better spent on alleviating poverty. The economy minister announced late on Wednesday that the salary of Boluarte - whose approval ratings are among the lowest of any leader worldwide - had been increased to 35,568 soles ($10,067), about 30 times higher than Peru's minimum wage. The president's salary had previously been fixed at 15,600 soles ($4,400), a level introduced in 2006 when former President Alan Garcia reduced it from 42,000 soles. The minister said the salary hike had already been approved by the cabinet and should come into effect immediately. The government justified the increase by saying that compared with 12 counterparts across Latin America, her prior pay ranked 11th, above only that of the Bolivian president. Reuters could not determine the accuracy of the government's ranking, but an evaluation by the Rio Times last year showed Latin American presidents' salaries ranging between $3,000 and $22,000, averaging at around $9,600. However, Peruvians that Reuters spoke to were not impressed. "It's a joke," pensioner Rolando Fonseca said outside a newspaper stand in the capital Lima. "There is extreme poverty all over Peru and the president needs to set an example." Peru's economy has rebounded over the past two years, following a recession triggered by anti-government protests early in Boluarte's term. However, poverty rates, which worsened during the COVID-19 pandemic, remain close to 30%. Boluarte is set to finish her term in July 2026, after presidential elections scheduled for next April. "She is about to leave and there is no need for her to increase her salary, she should be helping hospitals and sick children," said Carmen Juarez, a Lima housewife. Boluarte came to power in late 2022 after her predecessor Pedro Castillo was removed and arrested after attempting to dissolve Congress. Her approval ratings hover around 2% to 4%, according to recent polls by Datum and Ipsos Peru. She has faced accusations of corruption, including allegations of illicit enrichment involving Rolex watches. She was also investigated over her role in overseeing the police and military reaction to the anti-government protests, in which over 50 people died. Boluarte, 63, denies any wrongdoing. Repeated efforts to impeach Boluarte have been stymied by conservative political parties that support her. Peru has had six presidents since 2018, and three are currently behind bars. Opposition lawmaker Jaime Quito said he plans to promote an initiative in Congress to annul the pay rise. "This is a mockery to a country that is facing such serious problems," he said. ($1 = 3.5330 soles)
