Analysis: Copper price boost? Peru’s socialist swerve worries miners

Mining industry insiders and analysts have expressed alarm about Pedro Castillo, the surprise socialist favorite for the June run-off who often sports a cowboy-style hat and who has gained support in Peru’s rural hinterlands.

By Marco Aquino

RIO DE JANEIRO, BRAZIL - Peru’s presidential front-runner has proposed nationalizing mining and redrafting the Andean country’s Constitution, raising risks to mining investment in the world’s no. 2 copper producer that could put upward pressure on prices of the red metal.

Mining industry insiders and analysts have expressed alarm about Pedro Castillo, the surprise socialist favorite for the June run-off who often sports a cowboy-style hat and who has gained support in Peru’s rural hinterlands.

Castillo has a strong lead over conservative Keiko Fujimori in pre-election polls after surging from . . .

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