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Thursday, December 11

The end for the Tambogrande gold mine project

Peru's Centromin ends Manhattan copper-gold option
: "Manhattan said in a statement the Peruvian mining agency had informed it that the company had failed to meet the requirements of the agreement, which would have seen Manhattan earn a 75-percent interest in the Tambogrande concessions. However, Manhattan said all terms were met, including proof that the company had a net asset value of $100 million and owned a 10,000 tonnes-per-day treatment plant." Reuters The long debate over whether to convert one of Peru's most productive agricultural valleys into an open-pit mine seems to have reached its conclusion. Opposition from the local residents and the environmental group, both in Peru and internationally, undercut the government's desire to get another money-making export project onstream.

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