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Peru proposes state-owned bank buys gold from artisanal miners

The government of Peru wants a state-owned bank to buy gold from artisanal miners in order to replace a lucrative but shady informal market, Finance Minister Alfredo Thorne said on Wednesday.

Thorne said the miners would receive a better price for their gold and would not have to pay the value added tax rate, giving them incentives to register with the government and comply with environment and labour laws.