Peru Closes Bayovar Mineral Concessions with Cementos Pacasmayo

Peruvian state investment promotion agency ProInversion finalised the mineral concession contracts with local cement company Cementos Pacasmayo SAA and Juan Paulo Quay SAC, in which local conglomerate Grupo Romero holds 40 pct, regarding the non-metal mineral concessions in the area of Bayovar, Peru's northern Piura region.

The decision for the granting of the concession was made on August 29, 2007. Cementos Pacasmayo will operate chalk and diatomite deposits in Bayovar, while Juan Paulo Quay will exploit the gypsum reserves.

Cementos Pacasmayo will produce at least 40,000 tonnes a year, starting 18 months after the signing of the contract, and to raise the annual output to 80,000 tonne 36 months after the signing of the contract. In terms of chalk, the company's commitment is for 40,000 tonnes annually, starting 60 months after the signing of the contract.

Juan Paulo Quay assumed the obligation to produce the same quantity of gypsum as Cementos Pacasmayo's obligation regarding the diatomite.

The chalk deposits lies on 22,326 ha with 42.4 million tonnes proved reserves and 73 pct average calcium carbonate concentration.

Granted diatomite deposits are located on an area of 6,891 ha and gypsum reserve on an surface of 12,575 ha.

Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: October 17, 2007

No comments: