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Cerro de Pasco inks deal with local community over Peru copper project

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Cerro de Pasco inks deal with local community over Peru copper project

Cerro de Pasco Resources Inc. signed a definitive agreement with a local community in Peru over the development of the Quiulacocha copper tailings project, part of its El Metalurgista mining concession.

The company said Oct. 17 that it expects authorities to accelerate the project approvals process following the formalization of the agreement, which grants Cerro de Pasco the rights to use over 77.54 held by the Quiulacocha community and a social license to develop a tailings facility.

The community also agreed to help the company in obtaining necessary permits and implementation of environmental remediation measures once the project starts. In exchange, it will get benefits such as employment opportunities, special royalties and projects funded by government revenue from the planned operation, according to the company.