Elections in Peru… I guess – I only guess, because I´m a completely outstanding person and actually I don´t know too much about all this stuff – that the guys from Yanacocha are quite happy about the results. Humula did´t win.

During the last time all the big mining companies have been quite worried about this :

Rocky Mountain News:

Gold prices are surging to new highs, but shares of Newmont Mining Corp. – the world's No. 2 gold producer – are lagging behind its competitors. (….)

"The main reason for Newmont being an underperformer in the sector is the Peruvian elections,"said Patrick Chidley, an analyst (…) "Ollanta Humala is running for president, and if he is elected, people think Newmont might be negatively affected."


Mr Humala intends to levy the 3% royalty on these projects and also to “review” the stability contracts. He calls for the “nationalisation” of “strategic” sectors, though he is cagey about precisely what this means (not expropriation, he says) or whether it applies to mining.

Intelligence Summit Blog

Gold miners (…) expressed both concern and realism about new investment rules that could be implemented in the next administration. “Of course we are nervous,” Pierre Lassonde, president of Newmont Mining, said when asked about the Peru runoff vote. Nervousness among investors is being fuelled by the recent nationalist actions taken in Bolivia as well as in Ecuador and in Venezuela, whose governments are forcing foreign investors in natural resources to
renegotiate contracts. “This is every foreign investor’s nightmare,
that you invest billions of dollars and all of a sudden you find that
your investment has been nationalised,” said Mr Lassonde.
Newmont has around US$2bn in investment planned for Yanacocha, but its president warned that the company could cancel those plans if the investment climate was not right.

And now also in German (-: : Länder und Märkte

Außerdem zögern die Investoren wegen der Siegeschancen von Ollanta Humala bei der Präsidentschaftswahl im April 2006. Humala erinnert sie mit seiner Rhetorik an die Präsidenten von Venezuela und Bolivien, Hugo Chávez und Evo Morales. Im Bergbau seien "außerordentliche Gewinne" zu besteuern, Verträge mit ausländischen Firmen zu revidieren und der staatliche Anteil am Sektor zu erhöhen.

Here you can find more sources about the Peru Election 2006, including a Interview with Ollanta Humala by Financial Times

"Ollanta Humala, the frontrunner in Peru's presidential elections, has vowed to alter contracts with foreign investors that are currently ex-empt from paying royalties, a move that would affect global miners such as Newmont, BHP Billiton, Phelps Dodge, Falconbridge and Barrick."