Pan American Silver and Minera Chinalco Peru Reach Agreement on Long-Term Coexistence of Toromocho and Morococha

- June 14th, 2010

Pan American Silver Corp. (TSX:PAA)(NASDAQ:PAAS) announced that its majority-held subsidiary, Compania Minera Argentum S.A., has reached an agreement with Minera Chinalco Perú which clearly defines each party’s long term surface rights and therefore provides certainty to the land situation for Pan American’s Morococha mine.

Pan American Silver Corp. (TSX:PAA)(NASDAQ:PAAS) announced that its majority-held subsidiary, Compania Minera Argentum S.A., has reached an agreement with Minera Chinalco Perú which clearly defines each party’s long term surface rights and therefore provides certainty to the land situation for Pan American’s Morococha mine.

The press release is quoted as saying:

The primary focus of the agreement is on the lands and concessions around the Morococha mine and MCP’s Toromocho copper project. MCP requires certain lands and concessions in order to proceed with the development of Toromocho, including the surface lands within the planned open pit mining area of the Toromocho project. While Argentum does not own this land, much of the Morococha mine infrastructure and facilities are located on this ground.

Click here to access the entire press release

Click here to access Pan American Silver Corporate Site

Tags

Leave a Reply