Metminco obtiene permiso para su proyecto Los Calatos por 6 años (Inglés)

LOS CALATOS COPPER PROJECT MINISTERIAL RESOLUTION PASSED FOR RESERVATION OF LAND TITLE

Metminco Limited (“Metminco” or the “Company”) (ASX: MNC; AIM: MNC) is pleased to announce  that the Ministry of Energy and Mines, Perú, has passed MINISTERIAL RESOLUTION N° 416-2014-MEM / DM, which recommends that the National Superintendent of Public Assets or SBN (the Peruvian government body that controls all Peruvian public assets) approve the reservation of the surface title required for the planned development of the Company’s wholly owned Los Calatos Project for a period of six years.

Key aspects of the Resolution are as follows:

a)       The Resolution acknowledges the Project of National Interest (“PNI”) status of the Los Calatos Project, owned by Metminco’s wholly owned subsidiary, Minera Hampton Peru S.A.C.;

b)       The Resolution provides for a total area of 12,700 hectares, which incorporates sixteen mining concessions, as summarised in Annexure 1 and Figure 1, and

c)       The Resolution reserves the Company’s right to purchase the surface titles on which the planned mining development is to take place for an effective term of six years, commencing from the date of issue of the abovementioned Resolution.

In accordance with Supreme Decree N° 007-2008-VIVIENDA, the SBN, acting on behalf of the Peruvian State, and at the request of the relevant Peruvian Department (in this case the Ministry of Energy and Mines), is required to identify and approve the reservation of property to be allocated to projects of National Interest.

Mr William Howe, Managing Director, commented: “We believe the Ministerial Resolution re-affirms the Ministry’s belief and support in the future of the Los Calatos Project.

Furthermore, the reservation of the surface title will facilitate the development of the infrastructure required in support of the planned mining operation at Los Calatos.”

 

William Howe
Managing Director