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Gold/Mining/Energy : Copper - analysis -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (1733)	4/13/2007 9:50:16 AM
From: LoneClone	Read Replies (1) \| Respond to of 2131

Peru sets base price for Michiquillay deposit Source: Hoovers The Peruvian government's Proinversion privatization agency has set a base price of $44 million for the Michiquillay copper deposit located in the northern department of Cajamarca. An agency spokeswoman said Thursday that the concession is expected to be awarded on April 30. Proinversion official Jorge Merino said that 17 companies have prequalified, although he added that two more companies could eventually take part in the auction, according to government news agency Andina. Merino was also quoted as saying that he expects the winning bid to be higher than the base price. According to Proinversion, the deposit contains 544 tons of reserves with a grading of 0.69% copper. It also contains some gold and silver. Government officials have said that they expect the project to need at least $700 million in investment. A number of new mines have opened in recent years in Peru, making it one of the world's largest producers of copper, gold, zinc and other minerals.