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PERU: Auction for planned large-scale copper/gold/silver mine is pushed back to February 28 of...

PROJECT OVERVIEW:

The local PRIVATE INVESTMENT PROMOTION AGENCY (PROINVERSION) recently pushed back the auction of the Michiquillay copper project to February 28, 2007 from mid-December 2006.

Located in northern Peru's Cajamarca region, Michiquillay has reserves of 544 million tons of 0.69% copper, 0.1-0.5 gram of gold and 2 to 4 gram of silver per ton of ore. Under the new schedule, site visits will start on January 3, 2007 and PROINVERSION will announce the base prices on January 26, 2007. The deadline to pre-qualify has been set as February 14, 2007. <

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