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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (30415)	12/16/2008 10:56:57 AM
From: LoneClone	Read Replies (1) \| Respond to of 193918

Candente still eyes Peru copper project despite prices Lima (Platts)--12Dec2008 platts.com Vancouver-based Candente Resources said Friday that despite weakening metal prices it will continue its efforts to develop the Canariaco northern Peru copper property which has a potential capacity of 5,000 mt of copper annually. The company said that preliminary development costs have been estimated at $1.7 billion but that it plans to review the total cost and revise it downward eventually. "The management of Candente keeps a very positive perspective on the long-term fundamentals of copper and we continue very confident about the development potential of Canariaco norte. Management will keep its efforts to move towards the feasibility and the start up of the project," the company said. The company noted Canariaco is strategically convenient because it is located just within 30 miles of the country's main highway and has relatively easy access to the country's power supply. --Renzo Pipoli, newsdesk@platts.com