Peru’s Minister of Environmental Affairs, Manuel Pulgar-Vidal announced the country’s executive was in the midst of preparing a fund that would allow illegal miners to formalize their businesses.

He said the fund would be announced in the next few days, and would promote environmentally friendly technologies, Andina reported.

Pulgar-Vidal said the Ministry of Energy and Mining was in talks with the ministries of finance, agriculture, labor, health, social inclusion, and environment.

He added that the group would develop a comprehensive plan to reduce poverty in the area.

The Minister said the government had already prepared an executive decree outlining and clarifying the formalization process, which would be published in the coming days.

"We want to work hard to eradicate illegal mining areas, and work in an orderly processes of formalization," he said on Thursday.

Pulga-Vidals’ comments come hours after Luis Otzuka, president of the Madre de Dios Mining Federation announced protests would stop in order to resume negotiations with the government.

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