Peru declares war on illegal extraction of raw materials
The Peruvian government has planned four military bases. The destruction of the Amazon's environment by illegal mining is to be contained. In 2018 alone, 9,000 hectares of rainforest are to be destroyed by the illegal gold prospectors. Now, with the latest technology, with drone, satellite and aircraft, an end is to be put to it.
Mining in Peru dates back to the Inca period. And today it is the most important growth engine for the Peruvian economy. Peru is also one of the largest producers of copper, silver, gold, zinc, lead and molybdenum. Gold, silver and copper are the most important export products. Mining is responsible for around 20 percent of tax revenues.
In 2018 as a whole, Peru's economy grew by 3.99 percent. In 2018, exports reached a record level of 48.9 billion US dollars. And among the South American countries, Peru thus has the highest GDP growth rate. It is good that there is legal mining in Peru through well positioned companies such as Panoro Minerals or Zinc One.
Panoro Minerals - https://www.commodity-tv.net/c/search_adv/?v=298884 - has several projects in Peru, with the Cotabambas copper-gold-silver project being the flagship project and located in the strategically important south of the country. The second most important project is Antilla, a copper-molybdenum porphyry deposit for which a pre-feasibility study is available.
Zinc One - https://www.commodity-tv.net/c/search_adv/?v=298889 - acquired the Bongará mine and the Charlotte-Bongará project in Peru in 2017. Both host high grade zinc mineralization at or near surface. As these two projects are controlled by one company for the first time, there is an opportunity to delineate a significant zinc oxide resource along an eight kilometre long trend.
Current corporate information and press releases from Panoro Minerals (https://www.resource-capital.ch/en/companies/panoro-minerals-ltd.html).
In accordance with §34 WpHG, I would like to point out that partners, authors and employees can hold shares in the companies mentioned in each case and therefore there is a possible conflict of interest. Only the English version of these messages applies.
Disclaimer: The information provided does not constitute any form of recommendation or advice. We expressly point out the risks involved in securities trading. No liability can be assumed for damages resulting from the use of this blog. I would like to point out that shares and in particular warrant investments are generally associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. I expressly reserve the right to make a mistake, in particular with regard to figures and exchange rates, despite the utmost care. The information contained herein has been obtained from sources believed to be reliable but does not claim to be accurate or complete. Due to court rulings the contents of linked external sites are also to answer for (so among other things district court Hamburg, in the judgement of 12.05.1998 - 312 O 85/98), as long as no explicit dissociation from these takes place. Despite careful control of the contents, I do not assume any liability for the contents of linked external sites. The respective operators are solely responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/