Re:News in French
Here is a free translation, so no guarantee about accuracy.Plus many sentences don't
look right.
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Movement in the mining sector in Peru: the montréalaise Malaga keeps the course Published on June 29, 2011 with 09:00 | Updated at 09:07 Several Tungsten mines are in exploitation in the world, of which in Peru. Malaga, born from the scission of Dynacor Mines, bought there the mine Pasto Bueno in 2005. • Hugo Fountain The Press In spite of the social problems which were right d' a mining project in the south of Peru, the company montréalaise Malaga, which works a tungsten mine in an area of North, always estimates that the South American country is a place favorable for l' mining. “The demonstrations surprise me, but they are not generalized, supports Pierre Monet, president de Malaga. In our area, one n' l' does not have; impression which the population is ready to express.” In the South, the area of Puno, a few d' thousands; autochtones Aymara has invaded the street for one month to claim l' cancellation of the mining licences of the area. The demonstrators deplore at the same time the position risks and the weak economic consequences of which they profit in a country which recorded an economic growth of 8,8% in 2010, the second in South America. And which is the second world producer d' money and of copper of planet. This n' is not the first time that such demonstrations occur around mining projects. “I do not see the demonstrations like l' expression d' a feeling antiminier, known as Pierre Monet. I think that people want that the richness generated by l' mining industry is redistributed differently, qu' there are more repercussions in the areas where there are mines.” It remains that the crisis is sufficiently acute so that the outgoing president, Alan Garcia, revokes last Saturday the licences of the Canadian company Bear Creek, whose project Santa Anna was to produce its first ounces d' money in 2012. Bear Creek will dispute the legality of this decision. “This gesture of the government creates an uncertainty”, admits Pierre Monet, by specifying same breath n' to have any concern for Malaga. Pierre Monet affirms that the company has good relationships with the neighbouring population. It invested in Community projects and the mine n' employ that Peruvians. Nevertheless, this n' is not exactly the best moment to make the promotion of l' mining industry of Peru. Yesterday, the Canadian company Lupaka Gold launched a first public call to l' save Toronto Stock Exchange, to finance a gold bearing project in Peru. L' emission started to 1,50$. The title rocked to 91 hundreds with the fence. The mining investors have d' as much more Peru with l' eye qu' a new president of left will take up duty a few weeks. Elected official on June 5, Ollanta Humala posted in the past rather aggressive positions towards the mining sector, evoking l' idea of new taxation of the profits and d' a rise in the royalties to finance social programs. The shortly after its election, Lima Stock Exchange lost 12% during the meeting, and the titles of several active Canadian small firms in Peru had plunged. Pierre Monet remains nevertheless optimistic. “It is thought that the new president will continue d' to apply the economic policies qu' there was before in Peru, being given the strong growth. Qu' is thought; it will differently allot the resources, towards l' education and social programs, but one does not see a sign as what it would harm the mining area.” It should be said that the president has moderate some of his positions during the electoral campaign, giving up l' idea d' an important rise of the taxation of the profits. For l' moment, therefore, Malaga continues its usual journey. The company released the first profits of its history in the first quarter (800 000$). It will use this sum to launch a first program d' exploration in zones of its property where it estimates that the contents are higher. Drillings start in July. negotiated to 24 hundreds yesterday with Toronto Stock Exchange, in fall of 1 hundred e title of
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