30-year reserve life.
Peru Mining News
The president of Peru’s National Society of Mining, Petroleum, and Energy said the project will create 9,000 jobs during its construction phase and additional 2,500 once it goes into production.
The company was deemed not eligible for an automatic approval of its drilling permit for the Cerro Hermoso project.
Koricancha is located about 50km from Inca One’s own processing facility and the potential to produce 50,000 to 75,000 ounces of gold a year.
The Canadian miner plans to acquire the rights to the Milenos 32 concession adjacent to its Cerro Hermoso project in Peru.
The mining sector showed an interannual growth of 0.16 per cent in May.
Copper bears drop price 11% in 3 weeks, but new report shows labour contracts still up for renewal threaten 3 million tonnes of production just in Chile.
Miners around the globe produced 330,000 more tonnes of copper between January and March this year than in the same period of 2017, helped by higher production in world’s leader Chile.
Sumitomo’s move comes as Japanese trading companies have been grabbing assets and increasing their stakes on a few of them thanks higher commodities prices, which have boosted their profits.
Anglo will sell a 21.9% stake in its Peruvian copper project to Mitsubishi, increasing the Japanese firm’s stake in the venture to 40%.
Reaching agreements with residents near the project is expected to take about a year, followed by three to build the mine, which will begin operations by 2022.
As scrap ban bites Chinese traders up May cargoes 37% year on year.
The investment will increase the mine's copper output by 45 percent by 2020, with the value of production exceeding $2 billion annually.
China is Peru's top trade partner and imports most of the minerals the South American country produces.
Southern Copper Corp. is preparing to scale the ranking of global producers by spending more than $10 billion in Peru and Mexico.
The two companies jointly own the Coimolache mining company in Peru, and are both junior partners in large mines in Peru controlled by U.S.-based companies.
Bear Creek would also consider selling a stake in the $550m Corani project in southern Peru to help pay for the project.
Buenaventura’s U.S. shares have surged 63 percent in the past two years, the most among peers.
Goldcorp Inc. CEO David Garofalo says he’s happy with his company’s portfolio of assets, but that doesn’t mean he doesn’t have a wish list.
Southern Copper’s Manager of Technical Services said that the company has been able to knock down previous resistance from local communities.
Quellaveco is one of the world’s largest untapped copper orebodies and Anglo’s board is set to decide later in the year whether or not to green-light development of the $5.5bn mine.
A U.S. court ruled that the Chaupe family case against Newmont Mining Corporation should be heard in Peru - not Delaware, where the company incorporated almost 100 years ago.
Workers were demanding higher profit-sharing payouts.
La Oroya polymetallic smelter had been operated by Doe Run Peru, a unit of the U.S.-based Renco Group, from 1997 until the company went bankrupt in 2009 and its assets were transferred to a group of former creditors.
Martín Vizcarra said that he was in favour of promoting mining development in his country.