Decision comes in the wake of a full-scale investor revolt led by the Investor Forum, a London-based body representing some of the world’s biggest money managers.
Legal proceedings were held last week in Toronto related to a case against a Canadian mining company that formerly was operating through a subsidiary in Guatemala.
Mining investment in Peru is expected to grow 9% this year when compared to 2016, marking the end of a three-year decline than began in 2014, to reach $10 billion next year thanks to these projects.
Unionized workers at Escondida copper mine in Chile ended a 24-hour strike Friday but may put down tools again next week over company's planned layoffs.
Codelco Chief Executive Pizarro said company produced 1.24m tonnes of copper in January-to-September period, a 3 percent decline from same period last year.
Sociedad Quimica Y Minera said on Thursday its ongoing legal dispute with Chilean authorities over royalty payments may not be resolved until end of 2018.
They claim it won’t be possible to cut costs enough to offset the higher levies, and warn that some miners may need to pass on this new cost increase to the industrial production chain.