Living in Peru : your everyday companion

LivinginPeru.com
Isabel Guerra

Peruvian electricity company Electro Oriente, which serves regions Loreto and San Martín, has submitted a study on the environmental impact of Peru's Energy and Mines Ministry with the aim of expanding the Iquitos thermoelectric plant, which capacity reached 49MW effective capacity at present.

The project, which will last 29 months, is intended to increase the plant's capacity by 20.5MW, and is necessary to meet the regional growing demand.

The area's capacity demand is set to reach 44.4MW this year, 48.7MW in 2010, 62.1MW in 2015 and 77.5MW in 2020.

The company has budgeted some S/. 100 million soles (US $ 36.6 million dollars) for these expansion works.

Have other topics you'd like to see in our news section? If you or someone you know would like to contribute a news article to Living in Peru, whether it's translated or based on a personal investigation, send it to editor@livinginperu.com.

LivinginPeru.com
Isabel Guerra

Milpo mining company, whose main shareholder is Votorantim (Brazil), plans to invest approximately US $200 millions in the execution of its poly-metallic project Hilarión, said one of the firm executives.

Milpo's General Manager, Abraham Chahuán, told the press that the company is currently working in the environmental impact and feasibility studies on the Hilarión Project, a polimetalic (zinc, copper, lead and silver), in the Ancash region.

"Once we are done we will be able to estimate the amount of the investment it will require, that might be something between US $200 and 300 million dollars,” said Chahuán, during the mining conference Perumin, currently being held in the city of Arequipa.

Have other topics you'd like to see in our news section? If you or someone you know would like to contribute a news article to Living in Peru, whether it's translated or based on a personal investigation, send it to editor@livinginperu.com.

LivinginPeru.com
Isabel Guerra

AndeanGold Ltd. announced that its Peruvian subsidiary, PeruGold Resources (PGR), submitted an Environmental Impact Declaration that has been officially approved by Peru's Ministry of Energy and Mines.

In accordance to this, drilling in Phase I of Rio Seco Project (in La Libertad region), might start next week.

PGR has signed an agreement with A. K. Drilling International S.A., based in Lima, Peru, for a 1,400 metre reverse circulation drilling program.

PGR is also in the final stages of signing an agreement with the surface owner of the Rio Seco Project area, which also owns the water channel that runs through the Project.

Rio Seco Project is a gold property of approximately 3,325 hectares with associated silver and copper deposits, located in the Department of Libertad, Peru.

AndeanGold Ltd. is engaged in the acquisition, exploration and potential development of primarily precious metals properties, principally in Peru and Ecuador.

(Condensed from MarketWire).

Have other topics you'd like to see in our news section? If you or someone you know would like to contribute a news article to Living in Peru, whether it's translated or based on a personal investigation, send it to editor@livinginperu.com.

LivinginPeru.com
Isabel Guerra

Minera IRL (MIRL) has announced that a Letter of Intent (LOI) has been signed with Collingwood Peru S.A.C. to form a Joint Venture to explore the Veca Exploration Lease.

MIRL will have an initial participation of 60% of the joint venture, with Collingwood holding the remaining 40%, but as soon as a definitive Agreement and Management Agreement is signed, MIRL will pay Collingwood US$100,000.

All MIRL equity ounces of gold discovered and converted into Proven and Probable Minable Reserves will entail a payment to Collingwood of US$10 per ounce as well as US$0.15 per ounce for silver recovered from a future operation.

“If exploration is successful, Veca could offer an opportunity for a fast-track production development," said Executive Chairman Courtney Chamberlain.

Minera IRL Limited is led by an experienced senior management team with extensive industry experience, and operates the Corihuarmi Gold Mine and the emerging Ollachea Gold Project (Peru).

Have other topics you'd like to see in our news section? If you or someone you know would like to contribute a news article to Living in Peru, whether it's translated or based on a personal investigation, send it to editor@livinginperu.com.

LivinginPeru.com
Isabel Guerra

Peruvian natural gas company Calidda will invest US$ 60 millions in the expansion of the natural gas distribution network in Lima and Callao, according to Ernesto Cordova, its General Manager.

"We expect to expand the service from 255 millions cubic feet per day to 420 million cubic feet. That's what the Ministry of Finance has authorized; this will require an investment of approximately US $60 million dollars,” said Cordova.

He added that, if approved this month, the expansion project would begin faster and would be completed during the first quarter of 2011.

Reportedly, the company plans to invest about US $260 million dollars in Peru during the next few years.

Have other topics you'd like to see in our news section? If you or someone you know would like to contribute a news article to Living in Peru, whether it's translated or based on a personal investigation, send it to editor@livinginperu.com.

LivinginPeru.com
Isabel Guerra

“I am convinced that by 2001 we will have at least one petrochemical plant, under construction or already operating,” said today Peru's President Alan García, adding that “these plants will allow us to say that we have taken a step further to the development of our country.”

Garcia made these declarations during the public opening ceremony of natural gas supply service in San Juan de Lurigancho, Lima's largest district.

“Thanks to the petrochemical industry, gas can be converted into many products such as plastics, ammonium, among others, Garcia said.

Reportedly, natural gas users will save up to 50% on their monthly energy costs, since they will be billed only for what they actually consume.

Have other topics you'd like to see in our news section? If you or someone you know would like to contribute a news article to Living in Peru, whether it's translated or based on a personal investigation, send it to editor@livinginperu.com.

LivinginPeru.com
Isabel Guerra

Antares Minerals Inc. has just announced the start of its 2009 drilling campaign at the Haquira Cu-Mo-Au Project in Southern Peru, focusing on four satellite targets in the immediate vicinity of the known Cu-Mo-Au mineralization at the Haquira East and Haquira West Zones.

The Haquira project is located immediately adjacent to XSTRATA's Las Bambas project, with ample opportunity for shared infrastructure.

Antares, a financially sound company with current cash on hand of $16.5 million and no debts, is focused on precious- and base-metal exploration properties in Latin America that can be quickly and cost-effectively advanced to the discovery and production stage.

In addition to the Haquira Project in Peru, Antares is also currently exploring the Rio Grande (Cu-Au porphyry) project in Salta Province of NW Argentina in a 50/50 option/joint-venture basis with Pachamama Resources Ltd., a spin-off from Mansfield Minerals Inc.

Have other topics you'd like to see in our news section? If you or someone you know would like to contribute a news article to Living in Peru, whether it's translated or based on a personal investigation, send it to editor@livinginperu.com.

LivinginPeru.com
Isabel Guerra

According to Peru's Ministry of Energy and Mining (MEM) the tender for electricity generation services  using renovable energy resources (500MW) will be open on October 2009.

The tender includes any of the renovable energy types such as biomass, wind, solar, geotermic, hydraulic, etc.

The total of energy required reaches 1.314 GWh, which means a potency of 500 MW.

The Peruvian Association of Renovable Energies (APER) expresed that, according to their figures, this would save Peru almost US $ 60 million dollars per year.

APER's studies suggest that some of the best spots in Peru to install wind power generators would be in Tumbes, Piura, Lambayeque, La Libertad, Huacho, Marcona, Arequipa, Atico, Ilo, among some other places.

Have other topics you'd like to see in our news section? If you or someone you know would like to contribute a news article to Living in Peru, whether it's translated or based on a personal investigation, send it to editor@livinginperu.com.

LivinginPeru.com
Isabel Guerra

Dana Resources, a company which already owns seven mining projects located in the most prolific Peruvian mining regions, announced the acquisition of the Collota One Gold Prospect in Peru.

The Collota One Gold Prospect is located in Northern Peru in the region of Ancash on the eastern side of the Cordillera Negra (Black Range Mountains).

Dana Resources has previously acquired the Collota Gold Project, and now Collota One Gold Prospect increases the Company's land holdings in 3,320 more acres; the combined land holdings now surpass 8000 acres, which increases the volume of ore available to be processed.

The Board of Directors commented: "This strategic land acquisition further enhances our existing gold deposit."

With some of the richest mineral reserves in the world, Peru is one of the highest producing countries of precious & base metals in Latin America, holding about 16% of the world's known mineral reserves.

Dana Resources is a precious and base metals exploration and development company with offices in the United States and Peru.

Have other topics you'd like to see in our news section? If you or someone you know would like to contribute a news article to Living in Peru, whether it's translated or based on a personal investigation, send it to editor@livinginperu.com

LivinginPeru.com
Isabel Guerra

Alturas Minerals Corp has just reported that it has entered into a letter of intent agreement (LOI) with Compania de Minas Buenaventura, a Peruvian company listed on the Lima and New York Stock Exchanges, regarding its 100% owned Ccaccapaqui 1 property in Ayacucho, southern Peru.

Paul Pearson, President and CEO of Alturas commented, "We are delighted to be working with Buenaventura, a major international mining house and one of Peru's principal gold and silver producers, in advancing exploration at our Ccaccapaqui gold-silver project.”

Buenaventura is Peru's largest publicly-traded precious metals company and currently operates seven mines in Peru and has controlling interests in one mining company (El Brocal), as well as minority interests in several other mining companies, including a significant ownership interest in Yanacocha (43.65%) and Cerro Verde (19.26%).

Alturas is a Canadian corporation, which has been actively exploring various mineral projects in Peru since January 2004, focusing on the discovery of large epithermal gold mineralized deposits and copper-gold porphyry/skarn deposits.

Have other topics you'd like to see in our news section? If you or someone you know would like to contribute a news article to Living in Peru, whether it's translated or based on a personal investigation, send it to editor@livinginperu.com