Exploration and development digest

摘要

Lima has announced bidding is open for the state-owned Michiquillay Cu-Au-Ag-Mo prospect inCajamarca, northern Peru. The cost of developing it into an operation designed to process 80,000t/dof ore and produce 200,000t/y of copper is put at $2B. Companies which pre-qualify by the 26thOctober cut-off date have to hand in their bids on 15th November, with the project being awarded thefollowing day. Peruvian miner Milpo withdrew from the project earlier this year because ofdisagreements with the development agency, Pro Inversion, while Anglo American pulled out at theend of 2014, citing unfavourable market conditions. Southern Copper and Buenaventura areconsidering a bid currently.