NEW YORK Panoro
Minerals Ltd. is considering its options for bringing its
Antilla copper project in Peru to production, company president
and chief executive officer Luquman Shaheen told AMM
"Once we get to
bankable feasibility we will figure out the next step," Shaheen
said. "Either its developed by Panoro, a joint venture,
or sale of the (project)."
Columbia-based Panoro is currently developing 14 projects in
Peru, the largest of which are Antilla and Cotabambas, both in
the southern part of the country.
The company will
complete its preliminary economic studies for Antilla and
Cotabambas by the end of this year or early next year, and then
move on to the bankable feasibility study, Shaheen said.
Cotabambas is a
larger-scale project that is further along, with 400 million
tonnes of resources and an estimated $1.5 billion in capital
costs, Shaheen said. But Antilla, which has a resource estimate
of 154.4 million tonnes, is an important project because it has
less infrastructure requirements, he added.
"The requirements are
lighter," Shaheen said. "We expect the Antilla project could be
a good first step to being a producer. Its a more
The key is to get
Antilla and Cotabambas to bankable feasibility, Shaheen said. A
bankable feasibility study investigates all technical
parameters and associated costs including the cost of
shipping concentrate, the amount of resources, engineering
costs and more. The further the company gets into the bankable
feasibility study, the more uncertainties are eliminated and
the greater chance of finding investors, buyers or partners, he