Peru seeks to redraft legal framework for mining industry, Minister says

Peru's Energy and Mines Minister said on Tuesday the government wants to revise the framework for the country's mining industry, redrafting the umbrella law that regulates the sector, as well as the legislation that sets royalty payments. Peru is the world's No. 2 copper producer. Leftist President Pedro Castillo wants to raise taxes on mining companies to fund social programs, but has offered few details since assuming office in July. Shares of Peruvian miners have fallen on the perceived risk of those changes.