Shares of Bear Creek Mining (TSXV: BCM; US-OTC: BCEKF) surged on news that Peru’s new president, Pedro Castillo, and representatives of local communities, support the Corani silver-lead-zinc project.
During a meeting at the presidential palace on Oct. 15, representatives from towns and villages in the Corani district “formally and unequivocally expressed their support for Bear Creek Mining’s development, construction and operation of the Corani silver project,” the company said.
“President Castillo in turn welcomed their statement of support, declared that, "investment with responsible companies" is welcome in Peru, and committed to the delegation that he and the Peruvian government will support development of the Corani project in order to bring the project to fruition, stating he ‘will take Corani as an example for future investment desires.’"
The delegation was led by the mayor of the town of Corani, Edmundo Cáceres Guerra, who stated that “‘the entire people of the province of Carabaya, of approximately 10,000 families, will be happy because a better future awaits them,’" the company reported.
Bear Creek’s wholly owned Corani deposit in southern Peru is one of the largest fully permitted silver-polymetallic deposits in the world.