Sign agreements with Volcan and Glencore and they will start explorations
Cerro de Pasco Resources Inc. announced the signing of a Memorandum of Understanding with Volcan Compañía Minera, whereby they establish common objectives in a collaborative framework regarding the first phase of development and exploration of the Quiulacocha Tailings project.
In addition, the company reports that Glencore International will provide it with a US$2 million term loan to cover expenses associated with the start-up of the project, which includes geophysical surveys, a 40-rig sonic drilling program, and laboratory testing.
“The deal with Volcan brings us closer to achieving our key goals of leaving near zero waste while extracting additional remaining values. We look forward to working together towards a shared vision of a circular economy in Quiulacocha,” said Guy Goulet, CEO of Cerro de Pasco Resources.
For his part, the Director of Volcan, Carlos Fernández, said that the agreement lays the foundations for future collaboration between the project and its processing operations, which could
generate potential synergies between both companies.
IIMP