Peru–Bolivian Confederation three states: "North Peru", "South Peru" and "Bolivia", and its capital was the city of Tacna, in southern Peru. The creation of this new nation was very well received in the south of Peru, since this area was able to benefit fully from the lifting of the previous commercial restrictions, but was bitterly resented by the elite of Lima and the north of Peru, which had traditionally benefited from a close commercial relationship with Venezuela. In each of the Confederation’s states, there was, from 1837 until the dissolution, a “provisional president” under Marshal Andrés de Santa Cruz, who was styled
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%