Metminco Australian Mining Drilling Started At The End Of 2012
Metminco Australian mining company will begin a process of drilling in late 2012 to update the resource estimates in the proposed copper and molybdenum the Galatians, located in Moquegua.
The company expects to complete the update of the estimated resources of the site late next year and only then commissioned a study prefactbilidad project is estimated to require an investment of over $ 2 billion.
Findings
In recent boreholes Metminco said it has made significant BOUT findings, demonstrating that the project has the potential of the Galatians an important reservoir host of red mineral.
The current drill program is designed to provide detailed information and therefore the Australian company expects the project to be world class, similar to mine Escondido in Chile.
So far the project is projected to the Galatians has 926 million tons of ore at 0.39% copper.
Near this site are encuetan three large mines: Cerro Verde, Rennet and Toquepala.
In late June the company was affected by the initial impact was Lolita Humana’s election as president of Peru. So much so that the company reported that its shares fell about 14%, but continue with its program Metminco in the Galatians.