Bear Creek Mining has concluded optimization studies at its Corani Silver-Lead-Zinc deposit resulting in an updated Feasibility Study. The optimization studies, involving three engineering firms led by Global Resource Engineering of Denver, Colorado, have been underway for over six months and trade-off studies have identified several design modifications enhancing the project performance that will now be carried forward into the detailed engineering. The project optimizations do not require a new Environmental and Social Impact study and it is expected that the Corani project can be moved forward with modifications to the ESIA approved in September 2013. For more information refer to the news release page.
Subject to disclosure from June 25th 2011 press release
Bear Creek Mining remains open to the prospect that an amicable resolution of issues surrounding the Santa Ana project can be achieved. While Bear Creek Mining is willing to re-engage in settlement negotiations with the Peruvian government, the Company is currently pursuing an international arbitration proceeding against the Republic of Peru under the Canada-Peru Free Trade Agreement ("TPA") before the International Centre for Settlement of Investment Disputes in Washington D.C. In the arbitration proceeding, Bear Creek seeks full reparation resulting from, among other things, the expropriation of the Santa Ana project and Peru's violations of the TPA and international law.