Vena Resources finds higher grades of Uranium in Peru – Southern Copper could close smelter

Vena Resources Continues to Find Higher Grades of Uranium Mineralization Than Expected at Macusani

Vena Resources Inc. today announced further uranium drill results from the Macusani region. Assays from the Tantamaco project are continuing to exceed expected grade levels. Drilling in Tantamaco is near completion for phase one of the program. An additional drill platform has been made following favorable geology and visual mineralization at platform 10. (Fox Business – click here to read complete press release)

Japan’s JOGMEC and Perupetro to study exploration

Japan’s state-run Japan Oil, Gas and Metals National Corp said on Friday it signed an agreement with Perupetro, Peru’s petroleum agency, to explore holding joint crude oil and natural gas exploration activities in Peru. JOGMEC has yet to decide further investment or exploration project plans, a spokesman said. (Reuters – click here to read complete article)

Peru protests imperil Phoenix firm’s mines

Phoenix-based Southern Copper Corp. may be forced to temporarily close its copper smelter and two mines in Peru because of protests that have cut supplies. Company officials said that the shutdown could take place beginning today. The Moquegua region, where Southern Copper’s Cuajone mine and Ilo smelter are located, has been rocked for a week by protesters who are demanding that the region receive more government funds collected from mining companies. (Arizona Republic – click here to read complete article by Max Jarman)