Analysis: Peru's mining execs 'lose faith' in gov't despite moderate shift

FILE PHOTO: Members of indigenous communities camp on the property of Chinese-owned Las Bambas copper mine, in Las Bambas, Peru April 26, 2022. REUTERS/Angela Ponce/File Photo

LIMA (Reuters) - Peruvian mining executives who oversee some of the world's largest copper mines are losing whatever slim thread of faith they may have had in left-wing President Pedro Castillo's ability to boost the sector, even after his shift away from early proposals to sharply raise taxes on the industry.

Mining executives interviewed by Reuters pointed to social protests by Castillo supporters that led to month-long production halts at two major copper mines. They said his failure to quell social uprisings also delayed a pipeline of new mining projects worth $53 billion at a time of high copper prices.