Prefeasibility Study Under Way on Quechua Copper Mine Project

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Researched by Industrial Info Resources (Sugar Land, Texas)--Pan Pacific Copper Company Limited (Tokyo, Japan), through wholly-owned Peruvian subsidiary Compania Minera Quechua SA (Lima), is performing a prefeasibility study on the $490 million Quechua copper mine project. Quechua will be located in the district of Espinar, Cusco province, about 700 kilometers southeast of Lima.

The Quechua project entails the construction of an open pit mine and a processing plant to produce 210,000 tons per year of copper concentrate during an estimated mine life of 16 years. The company announced that the project has resources of approximetly 260 million tons at a grade of 0.61% copper, using a 0.4% copper cut-off grade.

Currently, Amec International SA (Santiago, Chile) is conducting a prefeasibility study for the project. Construction is expected to commence in the beginning of 2011, with start-up expected by the second half of 2012.

Pan Pacific Copper is a joint-venture between the Japaneses companies Nippon Mining & Metals Company Limited (Tokyo), which holds 66% interest, and Mitsui Mining & Smelting Company Limited (TYO:5706) (Shingagawa-ku, Japan), which owns the remaining 34%. Through wholly-owned subsidiary Compania Minera Santa Luisa (Lima), Mitsui Mining operates two polymetallic mines, the Huanzala Mine and Pallca Mine, both located in the Ancash region of Peru. Operations at the Pallca Mine are temporarily suspended because of the international financial turmoil.

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