Living in Peru : your everyday companion

Peru gives Rio Tinto mining rights at the border

Peru said on Wednesday it granted mining rights to mining giant Rio Tinto in 18 lots in the southern region of Tacna, less than 30 miles (50 km) from Peru's border with Chile and Bolivia. Peruvian law prohibits foreign companies from acquiring mines close to the border, but Rio Tinto was given the rights under a "public necessity" exclusion, meant to promote development in frontier areas, said the mining ministry. (Reuters - click here to read complete article)



Nilam Resources Inc. Currently Negotiating Additional Major Acquisition that Exceeds One Billion Dollars USD in Gross Revenue

Nilam Resources is pleased to announce that it currently in negotiations for its most recent acquisition. Nilam is very pleased with its current operations but has recently had a great opportunity to acquire additional promising properties to add to its portfolio. The companies long standing relationships within Peru has allowed the company many opportunities to some of the most sought after properties in the country which allows Nilam Resources Inc. first right of refusal on excellent projects. The company would like to add the most exceptional properties which are significant assets for Nilam that will increase shareholder value considerably. (Marketwire - click here to read complete press release)


Amera Announces $1 Million Private Placement

Amera Resources Corporation is pleased to announce a non-brokered private placement financing of up to 5,900,000 units at a price of $0.17 per Unit, subject to regulatory approval. Each Unit will consist of one common share and one half common share purchase warrant. Each full warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company for a period of two years at a price of $0.22 per share. The proceeds from this financing will be used for general working capital and for further exploration and development of the Company's property portfolio in Peru. (Marketwire - click here to read complete press release)


Norsemont Mining Increases Control over Constancia Project to 100%

Norsemont Mining Inc. today announced that the final option payment of US$8 million has been made to Rio Tinto, thereby increasing the Company's control over the Constancia copper/molybdenum/silver project to an undivided 100 percent. Commenting, Norsemont CEO Patrick Evans said: "This represents a significant milestone for Norsemont. Constancia is a large and robust project with the capacity to produce in excess of 90,000 tonnes of copper per annum. The recently completed Constancia scoping study indicates that the project has a net present value of $530M and an internal rate of return in of 25.3 percent." (Newswire - click here to read complete press release)