Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Aurania Resources is exploring the possibility of extending its Lost Cities-Cutucu project in Ecuador into northern Peru for copper and gold extraction. 


The potential project is based on a mineral belt’s probable extension from Lost Cities- Cutucu south into Peru, the company said in a statement last week, which omitted possible output volumes.


Aurania has applied for 419 mineral concessions covering 413,200 hectares in northern Peru, it said, adding that the annual mineral concession fees in the country are $3 per hectare.


In the first quarter of this year, Peruvian copper production decreased by 12.2pc to 515,209mt from 586,975mt in Q1 2019, according the latest figures from Ministry of Energy and Mines.


The mining industry is one of the most important economic activities in Peru, comprising about 9pc of its GDP and 60pc of the country’s exports. Copper and gold are the most important metals exported by value.


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