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Copper and Molybdenum Deposit Magistral (Draft)

Located near the town of Conchucos in Pallasca province, Ancash department, more than 4 thousand meters above sea level. It comprises five mining concessions (Master and Master I, II, III and IV).
will have an open pit mine. Annually produce 34 thousand tons of copper concentrates, 2860 tons molybdenum concentrate and 380 thousand ounces of silver concentrates.
Its construction will require an initial investment of $ 402 million. Its lifespan is estimated at fifteen years period during which generate approximately $ 278 million in taxes and $ 90 million in royalties.
The project was held by the Canadian company Inca Pacific Resources, which conducted the study, and that the State terminated the agreement in 2009, for alleged breach of contract.
In April 2011 he was awarded the mining Milpo, which won the tender launched by Proinversión.
The company, which has a period of 48 months to exercise the option to develop the project, has committed to make, throughout the life of the mine, pay 2% of annual net sales. Of this, 50% will go to a fund for the rural communities of Conchucos and Pampas. That would be about $ 65 million in total.
addition, the company pays royalties under.