14 Jul 2020

PROJECTS: Weekly snapshot

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From Tuesday, July 07 to Monday, July 13, 2020


Lida Resources – From silver to gold and copper

Canadian exploration company Lida Resources Inc. announced the acquisition of 2,500 hectares in the vicinity of its polymetallic property in San Vicente and the Quiruvilca mine property in Santiago de Chuco (La Libertad).

“We are very pleased to obtain additional land in this area. It is a very prolific gold, silver and copper property. We are adjacent to the Barrick Gold Lagunas Norte mine. Our goal is to move from a typical silver mine profile to a high tonnage gold and copper mine profile,” commented CEO Len De Melt.

At the peak of its initial 80-year mine life, the Quiruvilca mine was mining veins at 3,000 tonnes per day and reduced its mining to 1,000 tonnes per day when it suspended operations, reported PR Newswire.

MONDAY 13 / 07
  • The majority shareholder of Azzaro Trading is in the process of selling all of its shares. Azzaro is part of the Carlyle Group. The companies in which it has investments are J&V Resguardo Cía de Seguridad y Vigilancia Privada, which has its headquarters in Lima.
  • In its take-off, the Peruvian startup Tumi Robotics, specialized in solutions for the mining sector, received a seed capital of US$ 250,000 from the Chinese hardware startup accelerator Hax.
  • The Canadian explorer Lida Resources Inc. announced the acquisition of 2,500 hectares near its polymetallic property in San Vicente and the Quiruvilca mine property in Santiago de Chuco (La Libertad).

FRIDAY 10 / 07
  • After the SBS issued a resolution last April granting the operating license to Banco de China, which will begin operations with a capital of US$ 80 million, the date for the start of operations is now July 22.
  • Alicorp announced that the board of directors of its subsidiary, Cernical Group, approved the simple merger project, so the latter will be absorbed by the former.
  • The Chinese-Brazilian airline Latam announced that it had obtained US$1.3 billion in financing from a U.S. investment fund, which would allow it to overcome the crisis caused by the coronavirus pandemic and not resort to state aid.


  • As its Mina Justa (Ica) copper project gains momentum, Minsur and its deleveraging capacity during 2021 and 2022 are entering uncertainty, Fitch Ratings said.
  • Chile’s largest residential rental administrator, Assetplan, entered the Peruvian capital the first week of March.

TUESDAY 19 / 06

  • La Pampilla refinery seeks to lead the fuel market, so its main objective is to increase sales of oil products, as well as market share, according to a classification report by Apoyo & Asociados.
  • Japan’s Mitsui Mining and Smelting announced that its two zinc mines in Peru have resumed operations.
  • The supermarket in the Justo line, of Mexican origin, announced that it managed to raise a total of US$ 12 million in a new round of bridge investment, which will allow it to expand in Latin America.

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