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MNA Monterrico

82.00
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Monterrico LSE:MNA London Ordinary Share GB0031695009 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 82.00 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Peru Charges Police In Torturing Opponents Of Copper Project

18/03/2009 4:48pm

Dow Jones News


Monterrico Metals (LSE:MNA)
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Peruvian prosecutor Juan Ortiz Arevalo said Wednesday the state has charged a group of police officers with torturing opponents to a still-undeveloped copper mine in northern Peru.

Last year, a human rights group filed a complaint alleging police kidnapped and tortured more than two dozen opponents to the Rio Blanco copper mine project in 2005.

The project is run by U.K.-based Monterrico Metals PLC (MNA.LN), which calls it "one of the largest undeveloped copper resources in the world."

Xiamen Zijin Tongguan Development Co. Ltd., a consortium led by China's Zijin Mining Group Co. (2899.HK), took a controlling interest in Monterrico in 2007.

Last month, Erika Sernaque, a state prosecutor investigating the case, said evidence includes a series of photographs showing protesters in police custody, tightly handcuffed with plastic bags over their heads. Low-earning Peruvian police officers often work private security jobs, including at mines.

The project has faced strong opposition from nearby residents and environmentalists who say it will destroy the region's fertile soil and biodiverse cloud forests, and contaminate water used by local farmers.

In September 2007, more than 90% of the residents in three villages around the deposit rejected the project in a non-binding vote.

Rio Blanco is estimated to hold 1.257 billion tons at 0.57% copper and 228 ppm molybdenum, according to the Xiamen Zijin Tongguan consortium.

The government of Peru, one of the world's top producers of base and precious metals, has given strong support to the Rio Blanco project, despite the staunch opposition from the surrounding communities.

-By Leslie Josephs; Dow Jones Newswires; 511-211-2689; peru@dowjones.com

 
 

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