TABJ - June 13 - Fears that Peru’s new president elect, Ollanta Humala, may be made of the Hugo Chavez mould have surfaced, and he has spoken out to reassure the nation’s mining industry of any foreseen disaster.

The first subject to arise, naturally, was tax. Humala has said that he will consider taxation on windfall profits rather than a new blanket levy, according to Reuters. Commenting on mining companies and their growing profits of late, he said that they ought to finance social development programs in Peru.

Miners make up approximately 70 per cent of the nation’s gross domestic product, and on news breaking of his successful run for the post the Peruvian stock exchange dipped 12 per cent (later crawling back to seven per cent once the news sunk in).