Articles

Changes in environmental evaluation facilitate exploratory works in copper prospect, with an estimated investment of US $ 1,200 million. Company evaluates new agreements in the Cañaris area.

Canadian explorer Candente Copper could restart drilling at the Cañariaco Copper mining project (Lambayeque), after being informed of recent changes in the environmental impact assessment system law regarding permits originally approved to Candente in August 2014.

After having published a series of modifications in environmental assessment by the Ministry of Environment in early September (Legislative Decree 1394), the standard now gives environmental certificates a period of validity of five years. Candente requested confirmation from both the Ministry of Energy and Mines and the Office of Environmental Mining Affairs.

"This change in government regulations reduces time to restart drilling," said Joanne Freeze, president and CEO of Candente Copper.

 The executive says that these changes allow the explorer to focus on a new land access agreement with the community of Cañaris, a permit that is required before drilling starts. The extension of the drilling permits approved in 2014 would allow the Ministry of Energy and Mines and the Ministry of Culture to plan a “Consulta Previa” process in the Cañaris area, a requirement that is requested before starting drilling work. The social and administrative team of Candente held workshops with the Ministry of Culture to learn more about the process of “Consulta Previa”.

THE DATA

Prospectus.The Cañariaco project is a copper deposit with total control of Candente Copper. Its investment estimate is US $ 1,200 million, and includes the Cañariaco Norte deposit, which is in the feasibility stage, as well as the Cañariaco Sur deposits and the Quebrada Verde prospect, located in the western Cordillera de los Andes in Lambayeque.

 

GESTION, Peru

16 Oct 2018

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