Plenty of good news in last few weeks for mining in Peru1.-...

Plenty of good news in last few weeks for mining in Peru

1.- Hudbay Board approves the construction of the Constancia project in the South of Peru (CAPEX US$1.5 billion)
2.- Angloamerican Peru reaches landmark agreement with the community on water for its Quellaveco project and will now move forward to construction. Quellaveco is another monster copper porphyry in the same region as Los Calatos
3.- Antofagasta Minerals through its subsidiary Anaconda Peru is drilling its La Cuesta prospect only a few kilometres from Los Calatos. This confirms the area is of interest to large copper mining companies
4.- Moody's raised Peru's credit rating a notch to Baa2 maintaining a positive outlook citing less political risk and sound economic performance
5.- Peruvian economy grew by ~7% YoY as of June 2012
6.- President Humala remains committed to supporting the development of the mining industry

All positive for MNC.

On other notes,
- the auction for the "Celeste 8" tenement which I mentioned some posts ago will be held on September 3
- the conflict at Mollacas with the landholder has being going on for years and MNC has always won in the courts. It is getting a bit more airtime in Chile this time around because they are holding local elections soon (Oct 28 for the Mayor position). Nothing to really worry about

Alejandro

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DYOR, this is not investment advice
STO, BDR, MNC