The Algarrobo: The Millionaire Water – Mining Project in Piura of US $ 2,753 million to extract extra -abuse minerals such as Copper

The Private Investment Promotion Agency, together with the Buenaventura Minas Company, awarded the Water and Mining Project The carobheld a meeting with residents and locuto authorities (Piura). During the meeting, the objectives and advantages that this private initiative will bring for the community were exposed.

The first meeting took place on Thursday 30 at the town center of Locuto, located in the district of Tambogrande. This meeting brought together citizens, students and local authorities. Subsequently, on Friday 31, a second session was held at the Oscar Iturrino Auditorium of the Piura Chamber of Commerce, where authorities, businessmen, teachers and the general public were summoned.

What was talked about at the last meeting of the Algarrobo Water Project?

The Private Investment Promotion Agency reported that the meetings that are held constitute the initial phase of the project, which emphasizes social management to achieve consensus with the community, which facilitates the implementation of the Water system. In a second stage, we will proceed with the exploratory studies and the elaboration of the banking feasibility study, key elements that will evaluate the viability of building the necessary infrastructure for mining activity.

On the recent day, Héctor Nima, representative of the town center of Locutoexpressed his gratitude for the information provided and reaffirmed his commitment to support the project. This support is based on the need to boost development in an area that, during the last decades, has lacked significant advances.

Also, representatives of Buenaventura discussed the identification and evaluation of water sources aimed at productive activities in the community. Aspects related to the design, construction, operation and maintenance of the infrastructure necessary for the extraction, treatment, conduction and storage of water for agricultural purposes were also addressed. The final characteristics of Water project They will be established in the social agreement that will be signed with the peasant community.

What is the mining project?

The Mining Project will require a total investment of US $ 2,753 million. Of this sum, US $ 759 million will be allocated to investments, while US $ 1,994 million will be assigned to operating expenses during the first decade of operation. This ambitious polymetallic project aims to extraction copper, zinc and silver. It is expected to begin with a daily production of 5,000 tons, a figure that could increase up to 15,000 tons after the completion of feasibility studies.

In relation to the social fund component, it was detailed that this resource will finance productive projects aimed at raising the quality of life of citizens in vulnerability, which includes children, pregnant women, older and school adults. In addition, the technical training necessary for the development of the basic productive infrastructure in the community is contemplated.