MAC/20: Mines and Communities

Monterrico Metals Gets Govt. Stability Agreements For Peruvian Units

Published by MAC on 2007-08-07
Source: Thomson Financial

Monterrico Metals gets govt. stability agreements for Peruvian units

LONDON (Thomson Financial)

7th August 2007

Monterrico Metals PLC has received two stability agreements from the Government of Peru saying this gives it important guarantees about its investments in that country, and that tax and labour regimes will remain unchanged during their 10-year term.

It said the stability agreements will be entered into with Monterrico's Peruvian subsidiaries - Rio Blanco Copper Ltd and Minera Majaz SA - and the Government, and that these agreements will be signed shortly.

Other benefits include free transferability of foreign currency, non discrimination regarding exchange rates, and free trade of mineral products, the company added.

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