Yungay, Peru Yungay, Peru Yungay is a town in the Ancash Region in north central Peru, South America. Yungay is located in the Callejón de Huaylas on Río Santa at an elevation of approximately 2,500 meters, 450 km north of Lima, the country's capital. East of the small town are the mountain ridges of snow-covered Cordillera Blanca, with Huascarán, Peru's highest mountain, no more than 15 km east of Yungay. Yungay is the capital of Yungay Province, as well as the main town in the Yungay District. While the town counts approximately 10,000 inhabitants (2010 projection based on 2007 census data) Yungay
Mineral industry of Peru No. 868 of May 1996 (Texto Unico Official) provide guaranteed protections to mining ventures and contracts under the Peruvian Civil Code. Consequently, such ventures and contracts are immune from unilateral changes by any governmental authority in Peru without an appropriate legal or administrative remedy or arbitration by the Convenio Constitutivo del Centro Internacional de Arreglo de Differencias Relativas an Inversiones (Formal Consent of the International Center for Settlement of Relative Differences on Investments). Additionally, Peru enacted the Supreme Decree No. 047-2002-EF of April 2002 (import duties for capital goods) to reduce the duties paid to 7% from 20% and 12%