Today I received and email from the company which read as follows:
Manhattan Minerals Corp. is pleased to provide a further update on the
Feasibility Study and Environmental Impact Study (EIS) for the Tambo Grande
Project in northern Peru. These studies remain scheduled for completion in
mid 2002 and are being prepared by AMEC E&C Services Ltd. (for the
Feasibility Study), and Klohn Crippen Consultants Ltd. (for the EIS). The
Feasibility Study is one condition required to exercise the Option
Agreement with the Government of Peru (Centromin).
The major technical components of the Feasibility and EIA have been
completed, including mine planning and process engineering, concentrate
marketing analysis, tailings design, and river engineering. Technical and
socio-economic studies along the transportation route, including the port,
are complete and are being incorporated into the draft document. A study
of power supply and power-line routing has also been completed. A detailed
characterization of the San Lorenzo irrigation system has been completed
and will be used along with studies of the agricultural economy to provide
baseline information for sustainable development initiatives.
The operating plan envisages a 7,500 tpd gold/silver plant being operated
initially to process the oxide cap material. In the third year of
operation a copper/zinc flotation plant will be commissioned and operated
at 10,000 tpd using one grinding line, and then expanded in the fourth year
to 20,000 tpd, after converting the grinding capacity of the oxide plant.
Operating and capital cost estimates are well underway and will be
completed in the early part of June.
The Company continues to actively engage the local population in dialogue,
through the community workshops it began in 2001. Since the beginning of
this year over 600 participants total have attended in 25 workshops. In
addition, presentations have been made to regional governments, Federal
regulatory authorities and Governors, as part of the consultation process.
The socio-economic components of the EIS are the most critical to
successfully developing the Tambo Grande Project. Detailed analysis of the
regions social and economic systems is continuing, with the support of a
range of Peruvian and international consultants including local
Universities. Community Development and Resettlement Planning continues to
be an important aspect of the project.
Manhattan is committed to developing the Tambo Grande Project with full
community participation and involvement.
For further information please contact:
Lawrence Glaser
C.E.O. and Chairman
Tel: (604) 669-3397
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