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Message: Re: Political Risk
9
Jun 25, 2011 09:59PM

nice post jake,

I have read some articles in the last few hours. In some of these articles, there are quotes from some Peruvian officials that imply this situation is directly tied to politics also. I beleive the government is seeing through the underlying intent of the protests. They may have to reverse their decision on the BCM permit in the near future, IMO.

BCM has released a statement an hour or so ago that it will take legal action. IMO, BCM has complied with all Peruvian laws, including no DISCHARGE. Read this excerpt below taken from BCM,S release.

Mr. Swarthout continued "The project is designed incorporating international standards of environmental safeguards utilizing a zero-discharge heap leach project design. In addition to having no discharge, the project is located in a separate hydrologic basin; therefore, the potential for contamination of Lake Titicaca is not possible as alleged by the outside protestors. The project also incorporates strong commitments to social sustainability and benefits to local communities including job training, agricultural, educational and health improvement programs. The Santa Ana project will provide 1,000 direct jobs, 1,500 indirect jobs, and provide over US$330 million in royalties and taxes for the Peruvian people and our surrounding communities. Therefore, we continue to believe that Santa Ana will assist the new government in achieving its goals of further reducing poverty through the execution of environmentally sound mining projects and look forward to once again moving the project forward once legal actions are resolved.

http://www.bearcreekmining.com/s/NewsReleases.asp?ReportID=464133

Now, how can anyone deny the right of this miner with zero discharge?

C,mon, if this decision on BCM,S permit is not reversed, then there is no hope for any miner anywhere in the world.

IMO

9
Jun 26, 2011 11:30AM
9
Jun 26, 2011 11:38AM
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