Lima First Constitutional Court Rules in Favor of Bear Creek Mining

Bear Creek Mining Corp. (TSXV:BCM) announced that the Lima First Constitutional Court has ruled in its favor regarding action brought against the company by the Peruvian government in July 2011. The government had challenged the constitutionality of the Supreme Decree N° 032-2011-EM and as a result Bear Creek’s rights to operate at its Santa Ana mineral concessions were rescinded.

Today’s decision states that:

• Bear Creek’s constitutional rights were violated;
• The Company’s rights are unconditionally returned as stipulated under Supreme Decree N° 083-2007-EM, which originally granted the right to Bear Creek, as a foreign company, to operate the Santa Ana concessions, located within the 50 kilometer border zone of Peru;
• Bear Creek is recognized as title holder of the Santa Ana’s mining concessions and therefore, is enabled to perform all the rights arising from said titles; and
• The Court reaffirms that the Santa Ana project is in National interest.

As quoted in the press release:

The Company is very pleased that the decision acknowledges its rights and firmly believes that the court’s ruling is consistent with the facts of the case and the law. This represents a milestone in reinstating the Company’s rights towards operating the Santa Ana Project and further strengthens the Company’s standing in other legal matters and negotiations that the Company has been pursuing in an effort to amicably resolve the dispute.

Click here to read the full Bear Creek Mining Corp. (TSXV:BCM) press release.