Azulcocha Project Receives Peruvian Permits to Start Milling Operations

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Researched by Industrial Info Research Latin America (Córdoba, Argentina)--Azulcochamining S.A. (Lima, Peru), the joint venture between Vena Resources Incorporated (TSX:VEM) (Toronto, Canada) and Trafigura Beheer BV (Amsterdam, Netherlands), has received all the required permits from the Peruvian government to start operations at its Azulcocha zinc project, in the Junin department, 220 kilometers east of Lima.

The project, worth $18 million, consists of an underground mine with measured and indicated reserves of 2.04 billion tons at 7.4% of zinc, and a processing mill that will initially produce 500 tonnes per day of zinc concentrate. The project includes the revamp of the Gran Bretaña Mine, which was operational until 1986; the construction of an 8 million-tonne tailing pond; and the reconstruction of the mine camp. The company is also working on a study to be submitted to Peruvian authorities on expanding production capacity to 2,000 tonnes per day in the near future.

Vena Resources is a junior mining company focused on the exploration and development of different base and precious metals projects in Peru. Vena Resources holds 70% interest in the Azulcocha project.

Trafigura Beheer BV is a privately held international commodity trader with investments in industrial assets around the world of more than $3.3 billion. It holds 30% interest in the Azulcocha project.

Peru is the country with the highest number of mining projects under development in South America, with 160 projects worth approximately $70 billion.

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