Egasa submits EIS for US$665mn hydro project

Peruvian generator Egasa has submitted an EIS to the energy and mines ministry for the US$665mn Molloco hydro electric project in Arequipa region.

In 2007, the ministry signed a supreme resolution granting Egasa a temporary concession for the project, which would use resources from the Molloco river basin.

Project components include dams Machucocha (50Mm3), Molloco (150Mm3) and Japo (90Mm3), and plants Llatica (144MW) and Soro (158MW).

Egasa also holds a temporary concession for the Lluta and Lluclla hydroelectric projects in Arequipa, which total 560MW.

The generator already operates the Charcani I, II, III, IV, V and VI hydro plants, and thermo plants Chilina and Mollendo.

Publication: Business News Americas - English News
Provider: Business News Americas
March 25, 2009


Andean American to invest over US$75 million in Peru gold projects

Andean American Mining Corp. plans to invest more than US$ 75 million in two new gold projects in Peru called Invicta (Lima) and Sinchao (Cajamarca), announced the company's vice president, Luis Vela.
"Invicta and Sinchao are the two best results in the last three years of exploration," Vela told Andina news agency.

Andean American Mining is a Canadian owned company that operates in Peru since 1995 and is dedicated to the exploration and exploitation of minerals, primarily gold and silver.

Andean American Mining Corp. is actively pursuing new targets of potential early stage gold and silver prospects in Peru and currently has two key assets: the 41,500 hectare Invicta gold-silver-copper advanced exploration project and 61% of Sinchao Metals Corp., owner of the Sinchao polymetallic mineralization project.

Andean American continues to maintain excellent community relations and a commitment to responsible environmental practices. The company has a strong management team with over 60 years experience and an effective board dedicated to excellence in corporate governance.

Publication: Andina - English Newswire
Provider: Andina
March 8, 2009