Peru Cancels Concession for Bear Creek Mine

28 June 2011 (Last Updated June 28th, 2011 18:30)

The federal government of Peru has cancelled the concession for Bear Creek Mining's Santa Ana silver project in the Puno region, following protests against the development last week. Government authorities have held talks with protest leaders and agreed to annul the supreme decree that

The federal government of Peru has cancelled the concession for Bear Creek Mining's Santa Ana silver project in the Puno region, following protests against the development last week.

Government authorities have held talks with protest leaders and agreed to annul the supreme decree that authorised the firm to explore the concession.

The government also agreed to apply new measures aimed at improving consultation with residents for the development of mining and energy activities in the region, reports BNamericas.com.

Bear Creek Mining CEO Andrew Swarthout said the firm intends to defend its rights at Santa Ana through all available avenues, along with provisions under the Canada-Peru free trade agreement and Peruvian appeal processes.