23 Dec 2019

Projects – Weekly snapshot

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From Tuesday, December 17 to Monday, December 23, 2019

 

SPOTLIGHT

 

Prior consultation of the Coroccohuayco project will begin in January 2020

 

The process of prior consultation of the Coroccohuayco project, expansion of the Antapaccay mine (Cusco), will begin in January next year. The maximum period for prior consultation will be 120 calendar days.

 

The first stage will be informative, and from the separated communities what they are going to consult and what rights they attend. In the second stage the communities will present their proposals. And in the third stage comes the dialogue.

 

Glencore plans to invest US$ 590 million in the Coroccohuayco project, a mine with reserves of 290 Mt with 1.03% copper and located 10 kilometers from the Antapaccay mine. The company estimates that Coroccohuayco has a copper production potential of up to 100,000 tons per year (Diario Gestion).

 

MONDAY 23
  • The process of prior consultation of the Coroccohuayco project, expansion of the Antapaccay mine (Cusco), will begin in January next year. Glencore plans to invest US $ 590 million in the Coroccohuayco project, a mine with reserves of 290 Mt with 1.03% copper and located 10 kilometers from the Antapaccay mine. The company estimates that Coroccohuayco has a copper production potential of up to 100,000 tons per year (Diario Gestion).
  • The Minister of Transportation and Communications, said that the projects of lines 3 and 4 of the Lima Metro will not be executed by the mechanism of traditional public works, but a mechanism similar to that used in the Pan American Games or the Chinchero airport (Diario Gestion).
FRIDAY 20
  • Southern Copper Corp expects to invest US $ 8,000 million in the development of the Los Chancas (Apurímac) and Michiquillay (Cajamarca) projects, in addition to the expansion in Cuajone (Moquegua), and the construction of the new Ilo smelter (Diario Gestion).
  • For a sum of US$ 772 million, American Tower bought 40% of the towers in Chile and 65% of the antennas in Peru of Entel. In total, there are 1,980 towers in Chile and 1,262 in Peru, which will be leased so as not to harm the operation of the company in both countries (Diario Gestion).
  • Acres Sociedad Stockbroker made the placement of the second and third issuance of the fourth private bond corporate bond program Los Portales for US$ 11 million (Diario Gestion).
  • Canadian junior mining company Tinka Resources Limited announced the signing of a share capital subscription agreement with Compañía de Minas Buenaventura S.A.A, in order to boost the development of the Ayawilca zinc project (Diario Gestion).
THURSDAY 19
  • The financing granted by banks to companies accelerated in October, according to the latest report from the Association of Banks (Asbanc). Business credit reached S/ 180,000 million in that month, which meant an annual growth of 5%, in which real estate activity was the main driver. Thus, credit to real estate companies grew 16% annually at the end of October (Diario Gestion).
WEDNESDAY 18
  • Perupetro concluded with the process of citizen participation that had been carried out for almost a year, as a previous step for the award of lots Z-67 and Z-68, located on the high seas (off shore) off the coast of Áncash (Diario Gestion).

 


To access our INFRASTRUCTURE PROJECTS NEWSLETTER, click here

If you need more information, please contact Milagros Maraví (mmaravi@rubio.pe) or

Carlos Arata (carata@rubio.pe)

 

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