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Peru: Morning News Headlines – Monday, July 2

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Alan Garcia does not want to "disturb" diplomatic relations with Chile

(LIP-ir) — President Alan Garcia stated that he can not comment on the status of the maritime limit dispute with Chile everyday and if he did, it would only disturb diplomatic relations with Chile. "When one chooses to appeal, it would cause damage to comment on the process everyday," stated President Garcia. Garcia explained that the government has already appealed and the situation is in the court’s hands. He recommended that the issue be handled with "responsibility and prudence," taking into account that there are "100 thousand Peruvians working in Chile" and that an important trade relationship has been established with Chile.

Ministers supervise La Libertad highway construction

Interior Minister, Luis Alva Castro and Transport Minister, Veronica Zavala have gone and personally inspected the progress of the Callacuyan-Huamachuco highway. According to the Ministry of Transport the highway will lower the cost to move people and products from one place to another. It will also contribute to the area’s touristic development and contribute to the "Sierra Exportadora" project. The 77 million-dollar highway is being built by Yugoslavian company, Energo Project. It will be 71 kilometers long and it is hoped that by the end of 2007, 50 percent of the highway will be completed.

50 million soles to be invested in electricity for rural areas

The Peruvian government is to invest 50 million soles providing electricity for northern Lambayeque in order to improve the quality of life of the people in this rural area. Presently the citizens of this area do not have basic electrical facilities. The electricity will also help farmers access water from wells which is needed to irrigate their fields.

Peru inflation up .47% in June

The National Statistics Institute (INEI) reported that inflation in Peru went up .47 percent in June due to a rise in fuel prices. June’s outcome has risen the inflation rate this year to a total of 1.77 percent. Inflation in May (.49 %) has been the highest this year compared to January (.01%), February (.26%), March (.35%), and April (.18%). The INEI has reported that gas prices have gone up 8 percent while diesel fuel prices have risen by 3.2 percent. In 2006 inflation was a modest 1.14 percent

SCC union to restart negotiations Jul 2

Unionized workers at three Southern Copper (SCC) (NYSE: PCU) operations in Peru have agreed to resume negotiations with the company starting Monday (Jul 2), according to newspaper El Comercio de Lima. The union had previously agreed to a 6-day suspension starting Thursday (Jun 27) of its strike at the Toquepala and Cuajone mines and Ilo smelter to reactivate talks with the company. The strike began June 23. On Thursday work returned to normal and continued on Friday, according to the report. The workers are demanding better pay levels and added benefits. The company forecasts production this year of 696,000t copper. SCC is the mining branch of Mexican transport and resource conglomerate Grupo México (BMV: GMEXICOB). (Business News Americas)

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