The world is more connected than ever, and mining technology and service companies are no exception. As they expand their reach globally, they need to follow their clients to new markets, from a copper mine high in the Andes to the icey cold winters of Northern Canada. When exploring new markets, it’s the classic “chicken or egg” dilemma: You want to see success before committing to the expenses of a local operation, but as soon as you start generating revenue, the risk of being classified as a PE increases.
It is important for international companies to understand how contracts and specific clauses are dealt with in each country they are operating in. We provide a practical guide to clauses in Peruvian contracts.
Brian Pajares, a leader in mining technological innovation, and the current Innovation Project Coordinator at Buenaventura, provides insight into existing opportunities in the Peruvian mining industry and new trends in technology.
Peru has become an attractive emerging market for foreign investors. Particularly for foreign companies providing technology or services to the mining or industrial sectors. It is important for companies to understand the local labour laws when hiring workers in Peru as there are some key differences to other countries.
Incorporating a local company is an important step for companies who are serious about servicing the Peruvian market. We provide practical tips and timelines to help companies make their incorporation more smooth.
Peru has a large project pipeline of mining projects totaling approx. USD$58bn and should be the focus market for mining suppliers due to the fact that the local miners are open to new technologies and it is still relatively open in terms of competition compared to Chile.
Over the last 10 years, the Ax Legal team has helped many companies to enter and to operate in Peru. We have put together a comprehensive guideline of the relevant steps, timeframe and some of the important requirements needed to be completed when incorporating a company in Peru.
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