Forte Minerals, a global leader in exploration and mining of base and precious metals, recently received approval for its Environmental Impact Statement (EIS) for the Esperanza Porphyry Copper-Molybdenum (Cu-Mo) project located in southern Peru. The company can now move forward in the development of the project.
The objective of the Esperanza Porphyry Cu-Mo project is to build an open-pit mine in order to produce sizable copper and molybdenum concentrates geared to the international market, including other metals such as gold and silver. The project already received prior approval from two local communities; San Luis de Shuaro and Arturo Ilave, both of which provided their consent and support due to the livelihoods expected to be generated and community improvements expected from the project.
The approval of the EIS enables Forte Minerals to begin construction of the mine. The company plans to invest approximately 550 million dollars into the project for developing access to the mining area, infrastructure and other social and environmental improvements. It is estimated that the project would bring significant benefits to the local population and to the regional economy of Cusco, providing long-term employment for 600 direct workers and 1,000 more indirect positions.
In addition to creating jobs and boosting the local economy, Forte Minerals is committed to workplace safety, continual environmental protection, respect for local traditions and to being a model of corporate Social Responsibility for its stakeholders.
The approval of the EIS marks an important milestone for the Esperanza project and for Forte Minerals. With this approval, the company is now well positioned to meet its current objectives, to benefit the local community, and to help stimulate the economy of the region. Ultimately, the project will help to facilitate the development of socially and environmentally responsible mining.