Rio Blanco Copper Moving Forward with $1.4 Billion Peruvian Mine

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Researched by Industrial Info Resources (Sugar Land, Texas)--Rio Blanco Copper S.A. (Lima, Peru), a wholly owned subsidiary of Monterrico Metals PLC (LSE:MNA) (London), is moving forward with the Rio Blanco copper project in northern Peru on the border of Ecuador. Through a conventional open-pit mine, the $1.4 billion project is expected to produce 191,000 tons per year of copper concentrate and 2,180 tons per year of molybdenum concentrate. The feasibility study indicates resources of 1.26 billion tons at an average grade of 0.57% copper and a mine life of about 20 years.

Hatch Asociados S.A. (Santiago, Chile) is in charge of reviewing the feasibility study, which was completed in February 2007. One aspect that is currently being reviewed is the transportation. Products were initially planned to be moved by road, but plans could change to use pipeline instead. A resolution is expected by year's end. The company plans to complete an environmental and social impact assessment, which is being undertaken by Knight Piesold Consultores S.A. (Lima). Upon governmental approval, the company will seek capital financing to begin construction. The project is expected to begin operation in 2011.

Rio Blanco is considered one of the world's largest undeveloped copper resources. In Peru, Monterrico Metals has another ongoing copper project, the Mamanina, and is also developing other gold and silver projects.

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