9 Mar 2020

Projects – Weekly snapshot

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From Thursday, March 03  to Monday, March 09, 2020

 

SPOTLIGHT

 

Peihap will update works in the transfer tunnel in Alto Piura

 

After several weeks of waiting, the Alto Piura (Peihap) hydro-energetic and irrigation project is making progress for the future commissioning of the transfer tunnel and embrasure dam that will allow the waters of the Huancabamba River (in the Sierra de Piura) to be transferred to the Pacific and Lower Piura slope.

 

The Regional Government of Piura and Peihap announced that the company Agua Energía Mining Engineering Consultants will update and reformulate the technical file of the transfer tunnel (Component I). The company received the good pro last March 4.

 

This infrastructure update will be carried out within 150 calendar days. Thus, it is expected that the final term of this update will end on August 1.

 

The tender of the technical file that will update the situation of the transfer tunnel is a preliminary step for the tender of a contractor that will carry out the missing works in Component I. The announcement of the new contractor will be made from next September (Diario Gestion).

MONDAY 09
  • Mexican mining company Fresnillo reported its exploratory advances in Peru, where it has 650,000 hectares. In exploration work, it has already disbursed US$ 1.5 million (Diario Gestion).
  • Nexa Resources announced the results of the preliminary economic evaluation for its Hilarión project, a potential underground mine located in Áncash, which is part of the company’s strategy to achieve full integration of mining and smelting operations (Diario Gestion).
  • After several weeks of waiting, the Alto Piura (Peihap) hydro-energetic and irrigation project is making progress for the future commissioning of the transfer tunnel and embrasure dam that will allow the waters of the Huancabamba River (in the Sierra de Piura) to be transferred to the Pacific and Lower Piura slope (Diario Gestion).
  • Currently, the real estate portfolio of Andino Investment Holding (AIH) totals more than 730,000 square meters, valued at about US$ 295 million. One of the group’s companies, Inmobiliaria Terrano, began the construction of 420 square meters of modular offices that will be leased to Hansa Customs of AIH (Diario Gestion).
  • Fibra Prime, a securitization trust for investment in rental of Real Estate (Fibra), acquired a commercial property in San Isidro for US$ 6 million, which is added to the other six of the portfolio of assets it manages (Diario Gestion).
FRIDAY 06
Peruvian Metals Corporation reported the sale of its subsidiary Corongo Exploraciones to the British capital company Mines & Metals Trading (Peru) Plc, for an amount of US$ 800,000. Of this figure, about US$ 200,000 is in cash, and another US$ 600,000 in shares. Corongo holds concessions for 2,420 hectares located in the district of Huachocolpa, in Huancavelica (Diario Gestion).
THURSDAY 05
The logistics operations company Navisan –related to the local logistics group Transoceanic– presented a proposal to build a port terminal in Pucusana (southern Lima) that will have an investment of US$ 84 million (Diario Gestion).
WEDNESDAY 04
  • Minsur’s board agreed to transfer all of Exsa’s shares in favor of Orica Mining Services Peru. On February 18, Grupo Breca signed an agreement for the sale of 83.5% of its Exsa shares to Orica Mining, for US$ 203 million. When the operation becomes effective, Minsur will also transfer 10.95% of Exsa’s common shares. The closing of the operation will be no later than June 18 (Diario Gestion).
  • Canadian junior mining company Bear Creek Mining began financing procedures to boost the development of its Corani silver project, located in Puno. On the eve, the appointment of BNP Paribas and Société Générale financial institutions as main joint organizers (“POC”) to organize a preferred and guaranteed loan of US$ 400 million was announced (Diario Gestion).
TUESDAY 03
  • Barrick Gold considers a new mining prospect in southern Peru within its regional exploration portfolio. The concession is in charge of Minera Barrick Misquichilca, according to Ingemmet. Tumaruma is a mining concession that has gold anomalies in its extension (Diario Gestion).
  • On February 27, ProInversión issued its agreement to the accreditation of the Financial Closing for the execution of the Mandatory Investment Works for Stages 1 and 2 of the concession for the Modernization and Development of the Salaverry Multipurpose Port Terminal, awarded to Salaverry International Terminal SA, a subsidiary of Tramarsa, part of Grupo Romero (Diario Gestion).
  • Executives of the Canadian Pan American Silver pointed out the option of selling the La Arena II copper deposit in the Sierra de La Libertad in the future to a potential copper producer. At the time, it was estimated that the development of La Arena II would require about US$ 1,360 million and 149,000 ounces of gold and 207 million pounds of copper would be produced per year (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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