On June 25, 2011, the president of Peru signed the Supreme Decree No. 032-2011-EM revoking the mining concession held by the Canadian mining company Bear Creek in the Santa Ana silver project. This mining concession had been granted to Bear Creek in 2007 through the Supreme Decree No. 083-2007-EM. The argument for this revocation was that the Santa Ana project was no longer in the best interest of the public and the state.
Bear Creek reacted and claimed that the revocation was illegal. It expected to start mining operations by 2012 after having already invested CAD 96 million.