Lo, Jal is correct :
"A multinational company plans to reopen the mines Panama and San Telmo Lomero
Petaquilla Minerals Mayor presented his draft Cortegana • The president, Richard Fifer, create profitable an investment of 100 million euros • The area has significant reserves of gold and copper
PRUDENCIO CORTES / CORTEGANA | UPDATED 04.03.2011 - 5:01
From left to right, Juan Macias (San Telmo), P. Díaz, Pascual Montanes (HR Advisor), Richard Fifer (President of Petaquilla), R. Ybarra, A A. Domecq Marín.
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The mines in the vicinity of the hamlet of San Telmo mining could begin in the near future mineral production again because of the interest of those most responsible for the company's Panamanian-Canadian Petaquilla Minerals and its subsidiary in Spain, Iberia Resources Corporation, which Cortegana visited yesterday to present to the future City Hall project to open-Poyatos Lomero mine in the municipality of El Cerro de Andévalo, and the mine of San Telmo, at the end of Cortegana.
The business group Cortegana reached by helicopter from El Cerro de Andévalo, being the president of the Panamanian company, Richard Fifer, the manager to reveal the project to members of the government team, led by the mayor, Antonio Marín.
Fifer said that Petaquilla is an international mining company capital listed on the Toronto Stock Exchange (Canada). The company is the main investor Iberia Resources, an entity that has submitted to the Junta de Andalucía, Huelva a project to invest 100 million euros to revive Poyatos Lomero mining project, which closed in the 80's.
"With this commitment we have commenced discussions with members of the owning company of Minas de San Telmo to start the two projects together," said Fifer.
The president was accompanied by the CEO of Iberia Resources Corporation, Pascual Montanes, and two of the owners of Minas de San Telmo, Alvaro Domecq and Ramon Ybarra, who showed at all times its complicity with the project.
Fifer said the project is more ambitious than the reopening of these two mines, as the company intended to open other lines of investment in the area to use the natural resources of the territory, as the citrus farm, with an estimated investment of up to 40 million euros, taking advantage of the byproducts of the orange as biomass energy or production of Vitamin C. In this line of work, Petaquilla is also interested in the resources of the area ahead of renewable energies such as wind and hydropower.
With regard to mining development in the area and corteganesa cerreña, Fifer said that these two investments, "are just starting, because once we start to work on these projects would be increased significantly."
Petaquilla President referred to the company's commitment to employment, stating that the draft Lomero-Poyatos, would initially employ about 150 people in the study phase, which will be increased in the construction phase and up to 700 Finally in the operation phase will create approximately 250 jobs. The ore is expected to explode in this mine is mostly gold, as studies made by the company are more than 2,000,000 ounces of this mineral in Lomero-Poyatos. In addition also draw copper, lead and zinc. Fifer is quite optimistic about these early data, stating that "it is possible that the studies that we will do in the next 24 months we can be sure to double or triple these estimates." This region hosts the only operating mine in Huelva, the Water Stained, Valdelamusa-Almonaster.
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