Manhattan Minerals - Die Chance nach dem Einbruch ! - 500 Beiträge pro Seite
eröffnet am 22.12.03 12:13:05 von
neuester Beitrag 09.03.04 08:40:28 von
neuester Beitrag 09.03.04 08:40:28 von
Beiträge: 40
ID: 806.103
ID: 806.103
Aufrufe heute: 0
Gesamt: 1.611
Gesamt: 1.611
Aktive User: 0
ISIN: CA56310P1018
Neuigkeiten
diese Firma ist m.E. nach deutlich mehr wert, als die akt. Marktkap.
Das Tambogrande Projekt wird nicht so einfach wegfallen !
es wurden über 60 Mil. US Dollar investiert
und selbst wenn es keine Lösung gibt sind die Prop. um Tambogrande hoch interessant und nicht von dem Verbot betroffen
hier einiges nachzulesen:
http://www.manhattan-min.com/s/Home.asp
Schlusskurs war 0,40 Can Dollar
also unter CanKurs die Stücke zu haben
da will wohl der MM verkaufen
immer her damit
José
Das Tambogrande Projekt wird nicht so einfach wegfallen !
es wurden über 60 Mil. US Dollar investiert
und selbst wenn es keine Lösung gibt sind die Prop. um Tambogrande hoch interessant und nicht von dem Verbot betroffen
hier einiges nachzulesen:
http://www.manhattan-min.com/s/Home.asp
Schlusskurs war 0,40 Can Dollar
also unter CanKurs die Stücke zu haben
da will wohl der MM verkaufen
immer her damit
José
Kürzel in Kanada ist MAN die WKN in D. 898030
akt. Kurs im Brief in Frankfurt: 0,24 Euro
José
akt. Kurs im Brief in Frankfurt: 0,24 Euro
José
José
steht ganz obrn auf meiner watchlist
kürzel in d mhm zum nachtrag
ich glaube der mm ist schon im verdienten weihnachtsurlaub
Achgott. Was für eiun schwachsinniges Geschreibsel! Da wirft man mal einen Wert hinein, weil er gerade in Frankfurt neu eingeführt wurde ohne jegliches handfestes Fundament, anstatt auch mal ein paar nähere Details zu erläutern.
Die Bude hat mehr als 60 Mio Shartes Outstanding!
Sollte man auch erwähnen, wenn man schon von den Investments spricht. By the way, es gibt auch Buden, die haben schon mehrere 100 Mio. $ in ihre Projekte investiert und sind trotzdem nicht einen Pfifferling wert
Die Bude hat mehr als 60 Mio Shartes Outstanding!
Sollte man auch erwähnen, wenn man schon von den Investments spricht. By the way, es gibt auch Buden, die haben schon mehrere 100 Mio. $ in ihre Projekte investiert und sind trotzdem nicht einen Pfifferling wert
Habe mir mal 9000 St. ins Depot gelegt. Ist wenigstens ein
fairer Unrechnungskurs und die Story von MAN ist nach wie vor hoch interessant!
rainer
fairer Unrechnungskurs und die Story von MAN ist nach wie vor hoch interessant!
rainer
@rainer
yep - die Storry ist interessant
die Jungs haben was aufm Kasten, interessante Projekte zu finden
die Mine ist was ganz großes
die Peruanische Regierung wollte mit MAN zusammen 400 Mil. US Dollar investieren ... die Vorkommen sind gewaltig
@ arcadia
frag mich schon warum ich Dep... wie dir kostenlos eine Investitionsidee gebe ! Und dann soll ich Dir auch noch die Arbeit abnehmen .... tsss..
allen noch einen schönen Abend
José
yep - die Storry ist interessant
die Jungs haben was aufm Kasten, interessante Projekte zu finden
die Mine ist was ganz großes
die Peruanische Regierung wollte mit MAN zusammen 400 Mil. US Dollar investieren ... die Vorkommen sind gewaltig
@ arcadia
frag mich schon warum ich Dep... wie dir kostenlos eine Investitionsidee gebe ! Und dann soll ich Dir auch noch die Arbeit abnehmen .... tsss..
allen noch einen schönen Abend
José
Mein Freund, JosedelaVega....., von DIR muss ich mich nicht beschimpfen lassen. Deine Idden interessieren mich ohnehin nicht sonderlich, nur wenn Leute versuchen, mit unzureichenden Informationen Lemminge zu finden
Globe says investors flee Manhattan Minerals
2003-12-12 08:07 ET - In the News
The Globe and Mail reports in its Friday, Dec. 12, edition that Manhattan Minerals crumbled 48 cents to finish at 40 cents on the Toronto Stock Exchange Thursday. The Globe`s Market Movers column reports that Manhattan stock got trounced Thursday after the company said a Peruvian government agency had terminated its option agreement for the company`s Tambogrande gold project in Peru. In a statement, Manhattan said it was "very surprised" by the decision and would work with its Peruvian legal counsel to develop an appropriate response. Manhattan said the Tambogrande option agreement with Centromin Peru, now cancelled, incorporates 10 mineral concessions covering 10,000 hectares, but that it has other concessions in Peru that are not affected by the ruling. The company has been meeting stiff environmental and local opposition for its plans to build a gold mine in the region. Almost 3.3 million shares changed hands Thursday on the TSX.
2003-12-12 08:07 ET - In the News
The Globe and Mail reports in its Friday, Dec. 12, edition that Manhattan Minerals crumbled 48 cents to finish at 40 cents on the Toronto Stock Exchange Thursday. The Globe`s Market Movers column reports that Manhattan stock got trounced Thursday after the company said a Peruvian government agency had terminated its option agreement for the company`s Tambogrande gold project in Peru. In a statement, Manhattan said it was "very surprised" by the decision and would work with its Peruvian legal counsel to develop an appropriate response. Manhattan said the Tambogrande option agreement with Centromin Peru, now cancelled, incorporates 10 mineral concessions covering 10,000 hectares, but that it has other concessions in Peru that are not affected by the ruling. The company has been meeting stiff environmental and local opposition for its plans to build a gold mine in the region. Almost 3.3 million shares changed hands Thursday on the TSX.
wenn du nur etwas Anstand hättest, dann würdest du vor du solche Beschuldigungen in die Welt setzt meine anderen Threads durchlesen und sehen wie "REICH" meine Invest-Ideen so manchen gemacht haben und machen
ich denke meine Tipps sind nicht die Schlechtesten
doch es sollte jeder selbst Research betreiben
Sendepause arcadia
wünsche dir trotzdem schöne Weihnachten und dass du vielleicht auch einmal eine Hurricane bei 0,40 Cent einsammelst und die bis 17 Euro geht, eine TMEI bei 0,13 US Dollar ... , eine Gasco bei 0,40 Cent, eine Ivanhoe bei 0,50 und die über 7 US dollar geht, eine TTL bei 0,80 und die auf 2,50 Euro geht ... hier nur einige meiner letztjährigen bzw. diesjährigen Werte !!!
leise r. der Schnee
also wie gesagt ich gebe hier keine Empfehlung doch wenn ich solch Antworten auf gutgemeinte Investideen bekomme, da vergeht einem die lust
pfui
José
ich denke meine Tipps sind nicht die Schlechtesten
doch es sollte jeder selbst Research betreiben
Sendepause arcadia
wünsche dir trotzdem schöne Weihnachten und dass du vielleicht auch einmal eine Hurricane bei 0,40 Cent einsammelst und die bis 17 Euro geht, eine TMEI bei 0,13 US Dollar ... , eine Gasco bei 0,40 Cent, eine Ivanhoe bei 0,50 und die über 7 US dollar geht, eine TTL bei 0,80 und die auf 2,50 Euro geht ... hier nur einige meiner letztjährigen bzw. diesjährigen Werte !!!
leise r. der Schnee
also wie gesagt ich gebe hier keine Empfehlung doch wenn ich solch Antworten auf gutgemeinte Investideen bekomme, da vergeht einem die lust
pfui
José
...wisst ihr eigentlich welche Gesellschaft mehr als 10 Prozent von Manhattan Minerals Corp. besitzt... Thread: Die Cmgi der Edelmetallaktien
@ arcadia
keiner wird gezwungen die aktie zu kaufen.
man muss sich auch zusätzlich immer selbst informieren.
ich verfolge schon länger die postings von jose`.
er gibt echt gute informationen und gehört zu den wenigen
postern, die hier seriös informieren.
(ich habe diese aktie nicht, aber was nicht ist kann ja noch werden, vorher informiere ich mich natürlich auch noch anderweitig)
@ jose`
mach weiter so und lass dir nicht von einigen den spass
verderben.
keiner wird gezwungen die aktie zu kaufen.
man muss sich auch zusätzlich immer selbst informieren.
ich verfolge schon länger die postings von jose`.
er gibt echt gute informationen und gehört zu den wenigen
postern, die hier seriös informieren.
(ich habe diese aktie nicht, aber was nicht ist kann ja noch werden, vorher informiere ich mich natürlich auch noch anderweitig)
@ jose`
mach weiter so und lass dir nicht von einigen den spass
verderben.
Verbitte mir Dein "pfui". Gasco war ein schöner Tipp!
Trotz Deines tons...auch Dir frohe Weihnachten!
Trotz Deines tons...auch Dir frohe Weihnachten!
@arcadia
erkläre uns doch mal warum Gasco ein schöner Tipp war wenn dich die Ideen von Josè nicht interessieren?
Ich meine es ist ja in Ordnung wenn du der Meinung bist das bei diesem Wert (MAN) das Fundament fehlt und es ist auch gut wenn du das schreibst, aber entsprechend #7 von schwachsinnigen Geschreibsel zu reden ist denke ich nicht das Niveau auf dem sich alle anderen hier unterhalten möchten..
Gruß Madi2000
erkläre uns doch mal warum Gasco ein schöner Tipp war wenn dich die Ideen von Josè nicht interessieren?
Ich meine es ist ja in Ordnung wenn du der Meinung bist das bei diesem Wert (MAN) das Fundament fehlt und es ist auch gut wenn du das schreibst, aber entsprechend #7 von schwachsinnigen Geschreibsel zu reden ist denke ich nicht das Niveau auf dem sich alle anderen hier unterhalten möchten..
Gruß Madi2000
@ maid
@ marc
danke
@ Sozi
yep - sehr interessant dass Dundee 10% hält
denke jedoch dass die auch auf Tambogrande spek. haben - also das Gebiet unter dem Ort !
MAN dürfte jedoch mit den anderen Konzesionen noch mehr als genug interessantes haben wobei ich immer noch erwarte dass hier noch nicht das letzte Wort gesprochen ist
was meint Dundee dazu ?
josé
@ marc
danke
@ Sozi
yep - sehr interessant dass Dundee 10% hält
denke jedoch dass die auch auf Tambogrande spek. haben - also das Gebiet unter dem Ort !
MAN dürfte jedoch mit den anderen Konzesionen noch mehr als genug interessantes haben wobei ich immer noch erwarte dass hier noch nicht das letzte Wort gesprochen ist
was meint Dundee dazu ?
josé
ok dann werde ich einmal etwas deutlicher:
ich gehe hier STRONG BUY gegen den Markt
wesshalb ?
ein weiterer Grund ist das B5 Projekt, welches südlich vom Ort liegt - also nicht betroffen sein sollte und wo bereits kräftig gebohrt wurde
Ergebnisse waren m.M. nach sehr sehr gut
53 Meter ergaben - 4,6 % Kupfer, 17 g/t Silber
bzw. Loch 14 2,7 % Kupfer und 19g/t Silber....
die ganzen Ergebniss jetzt hier reinzustellen wäre eine menge arbeit, welche jeder selbst ....
Als Fazit ergaben die B5 Projekt Bohrungen, dass es sich um die gleiche Zusammensetzung wie unter dem Ort handelt
also was soll dieses Geschrei ?
dann wird die Mine eben etwas südlicher gebaut
sehr interessant ist des weiteren die finanzielle Situation - schaut euch mal die Zahlen an - so gut wie keine Schulden ( durch Cash mehr als abgedeckt )
José
ich gehe hier STRONG BUY gegen den Markt
wesshalb ?
ein weiterer Grund ist das B5 Projekt, welches südlich vom Ort liegt - also nicht betroffen sein sollte und wo bereits kräftig gebohrt wurde
Ergebnisse waren m.M. nach sehr sehr gut
53 Meter ergaben - 4,6 % Kupfer, 17 g/t Silber
bzw. Loch 14 2,7 % Kupfer und 19g/t Silber....
die ganzen Ergebniss jetzt hier reinzustellen wäre eine menge arbeit, welche jeder selbst ....
Als Fazit ergaben die B5 Projekt Bohrungen, dass es sich um die gleiche Zusammensetzung wie unter dem Ort handelt
also was soll dieses Geschrei ?
dann wird die Mine eben etwas südlicher gebaut
sehr interessant ist des weiteren die finanzielle Situation - schaut euch mal die Zahlen an - so gut wie keine Schulden ( durch Cash mehr als abgedeckt )
José
@ JosedelaVega,
was DPM dazu "sagen" wird, wird der nächste Quartalsbericht zeigen, mal sehen ob sie noch Ihre Aktien bzw. Warrants auf Manhattan Minerals haben...
was DPM dazu "sagen" wird, wird der nächste Quartalsbericht zeigen, mal sehen ob sie noch Ihre Aktien bzw. Warrants auf Manhattan Minerals haben...
so langsam kommt Volumen in den Wert ( in Deutschland )
diese Aktie ist hoch interessant
unter 1 Can Dollar würde ich hier nichts hergeben
José
diese Aktie ist hoch interessant
unter 1 Can Dollar würde ich hier nichts hergeben
José
NEWS --- NEWS --- NEWS
Manhattan Minerals Corp.: Extension on Papayo Land Concessions
Thursday January 8, 5:00 am ET
VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 8, 2004--Manhattan Minerals Corp. is pleased to announce that it has received an extension to the current option agreement it has with Cedimin S.A. on the Papayo land concessions in Northern Peru. The option agreement has been extended from January 15, 2004 until July 15, 2004. These concessions contain the previously drilled B-5 project, and other high priority massive sulfide exploration targets. The B-5 project, in which the Company has already drilled 14 holes, includes a hole intercepting 53 meters of material averaging 4.6% copper and 17 g/t silver, and another hole intercepting 86 meters of material averaging 2.7% copper and 19 g/t silver.
Manhattan also announces that Peter Tegart has resigned as independent director of the Company`s Board due to other commitments. The Board thanks Mr. Tegart for his many years of contribution to the Company and wishes him success in his current endeavors.
--------------------------------------------------------------------------------
Contact:
Manhattan Minerals Corp.
Lawrence Glaser, 604-669-3397
Website: www.manhattan-min.com
José
Manhattan Minerals Corp.: Extension on Papayo Land Concessions
Thursday January 8, 5:00 am ET
VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 8, 2004--Manhattan Minerals Corp. is pleased to announce that it has received an extension to the current option agreement it has with Cedimin S.A. on the Papayo land concessions in Northern Peru. The option agreement has been extended from January 15, 2004 until July 15, 2004. These concessions contain the previously drilled B-5 project, and other high priority massive sulfide exploration targets. The B-5 project, in which the Company has already drilled 14 holes, includes a hole intercepting 53 meters of material averaging 4.6% copper and 17 g/t silver, and another hole intercepting 86 meters of material averaging 2.7% copper and 19 g/t silver.
Manhattan also announces that Peter Tegart has resigned as independent director of the Company`s Board due to other commitments. The Board thanks Mr. Tegart for his many years of contribution to the Company and wishes him success in his current endeavors.
--------------------------------------------------------------------------------
Contact:
Manhattan Minerals Corp.
Lawrence Glaser, 604-669-3397
Website: www.manhattan-min.com
José
Gestern auch deutlich höheres Volumen in Canada...lassen wir uns überraschen.
Dünnes Volumen drüber...mal schaun, wann sich das ändert...
Mal was Altes...
MININGWATCH CANADA ~ OXFAM AMERICA ~ MINERAL POLICY CENTER
Major Gold Project Implodes in Peru
Community Succeeds in Opposing Controversial Gold Mine
FOR IMMEDIATE RELEASE: 12 December 2003
Tambogrande, PERU – Community members, joined by human rights and environmental advocates, today hailed a major precedent in their push for recognition of community rights in places where multinational corporations seek to operate.
The Peruvian government found that Canadian mining company Manhattan Minerals failed to meet criteria necessary for digging a proposed open-pit gold mine where the village of Tambogrande currently stands. The town of 16,000 residents is located in the heart of one of Peru`s most productive cultural areas.
"Now the area`s farming economy can flourish without the immediate threat of mine waste contaminating precious water supplies," said Payal Sampat of Mineral Policy Center.
Manhattan staked its future on the controversial Tambogrande gold mine proposal – which has been strongly opposed by local residents concerned about water contamination and other effects on the area`s precious agricultural economy.
"Manhattan and other Canadian mining companies are always saying they respect their host communities. But obviously they have to be forced to do so," said Jamie Kneen of MiningWatch Canada.
In rejecting Manhattan`s proposal, the Peruvian government cited the company`s inability to demonstrate sufficient assets and processing capacity to manage the project. Manhattan`s stock value already plummeted 41% in one day at the beginning of December, after Peruvian officials refused to extend the company`s December 1 deadline for providing proof of financial solvency.
"This is really a win-win situation," said Keith Slack of Oxfam America. "The people of Tambogrande get to protect their way of life and the global mining industry avoids a big black eye."
The Tambogrande proposal gained renown in June 2002, when 93 percent of voters in a community referendum voted against opening the area to gold mining.
Residents have been united against the project since it was first proposed in1999, due to concerns about mine waste endangering the San Lorenzo Valley`s water supplies and rich agricultural economy. The area`s agricultural production is valued at approximately US$2 billion, employing 15,000 locals. Residents also opposed Manhattan`s plan to relocate 1,500 families in order to make way for the enormous open-pit mine.
A peaceful three-day strike was held last month by community residents to express continued opposition to the project. The strike culminated in a massive rally attended by 10,000 people in the main square of Tambogrande.
In order to retain its ownership option in the project, Manhattan was required to demonstrate by December 1 its possession of US$100 million in assets and an operating plant with processing capacity of at least 10,000 tonnes per day.
"This case offers valuable lessons for the mining industry and reveals that poor industry practices are not a thing of the past," said José de Echave of Peru`s CooperAcción. "The population`s conviction in defense of its rights, buttressed by national and international solidarity, prevented Manhattan from developing a project that would have trampled on human rights."
Tambogrande`s story builds on a trend of communities throughout the developing world demanding prior informed consent before multinational mining companies can start mining. For example, residents of a community in Argentina`s pristine Patagonia region held an overwhelming public vote in March against a gold mine proposed by U.S.-based Meridian Gold.
MININGWATCH CANADA ~ OXFAM AMERICA ~ MINERAL POLICY CENTER
Major Gold Project Implodes in Peru
Community Succeeds in Opposing Controversial Gold Mine
FOR IMMEDIATE RELEASE: 12 December 2003
Tambogrande, PERU – Community members, joined by human rights and environmental advocates, today hailed a major precedent in their push for recognition of community rights in places where multinational corporations seek to operate.
The Peruvian government found that Canadian mining company Manhattan Minerals failed to meet criteria necessary for digging a proposed open-pit gold mine where the village of Tambogrande currently stands. The town of 16,000 residents is located in the heart of one of Peru`s most productive cultural areas.
"Now the area`s farming economy can flourish without the immediate threat of mine waste contaminating precious water supplies," said Payal Sampat of Mineral Policy Center.
Manhattan staked its future on the controversial Tambogrande gold mine proposal – which has been strongly opposed by local residents concerned about water contamination and other effects on the area`s precious agricultural economy.
"Manhattan and other Canadian mining companies are always saying they respect their host communities. But obviously they have to be forced to do so," said Jamie Kneen of MiningWatch Canada.
In rejecting Manhattan`s proposal, the Peruvian government cited the company`s inability to demonstrate sufficient assets and processing capacity to manage the project. Manhattan`s stock value already plummeted 41% in one day at the beginning of December, after Peruvian officials refused to extend the company`s December 1 deadline for providing proof of financial solvency.
"This is really a win-win situation," said Keith Slack of Oxfam America. "The people of Tambogrande get to protect their way of life and the global mining industry avoids a big black eye."
The Tambogrande proposal gained renown in June 2002, when 93 percent of voters in a community referendum voted against opening the area to gold mining.
Residents have been united against the project since it was first proposed in1999, due to concerns about mine waste endangering the San Lorenzo Valley`s water supplies and rich agricultural economy. The area`s agricultural production is valued at approximately US$2 billion, employing 15,000 locals. Residents also opposed Manhattan`s plan to relocate 1,500 families in order to make way for the enormous open-pit mine.
A peaceful three-day strike was held last month by community residents to express continued opposition to the project. The strike culminated in a massive rally attended by 10,000 people in the main square of Tambogrande.
In order to retain its ownership option in the project, Manhattan was required to demonstrate by December 1 its possession of US$100 million in assets and an operating plant with processing capacity of at least 10,000 tonnes per day.
"This case offers valuable lessons for the mining industry and reveals that poor industry practices are not a thing of the past," said José de Echave of Peru`s CooperAcción. "The population`s conviction in defense of its rights, buttressed by national and international solidarity, prevented Manhattan from developing a project that would have trampled on human rights."
Tambogrande`s story builds on a trend of communities throughout the developing world demanding prior informed consent before multinational mining companies can start mining. For example, residents of a community in Argentina`s pristine Patagonia region held an overwhelming public vote in March against a gold mine proposed by U.S.-based Meridian Gold.
was wenn sich alles klärt ?
Manhattan ist deutlich unterbewertet und wird noch in ganz andere Kursregionen sich wieder bewegen
time will show you
interessante NEWS
Peru Seeks More Environment Info From Manhattan Minerals
17:21 GMT-05:00 Wednesday, January 08, 2003
By Mary Powers
LIMA, Peru (Reuters) - The Peruvian government has asked a subsidiary of Canadian junior Manhattan Minerals for additional information on an environmental impact study presented on the Tambo Grande gold, copper and zinc project in northern Peru, officials said Wednesday.
Manhattan presented the environmental impact study in December and said it hopes to start spending $180 million by late 2003 on the first phase of the project`s development.
But Vice-Minister of Mines Cesar Polo said the 120-day period foreseen by law for approving or rejecting the environmental impact study had been frozen until Manhattan submits the missing information.
"There is long list (of requirements) which includes a surface water study, study of air quality and other base line studies," Polo said at a news conference.
The Energy and Mines Ministry distributed copies of a letter to Manhattan from the National Institute of Natural Resources (Inrena) asking for copies of 12 baseline studies. Inrena said "an appropriate analysis" of the project`s potential environmental impact was impossible without them.
Americo Villafuerte, president of Manhattan Compania Minera, said the company would provide the information.
"The studies exist and we have no problem whatsoever in providing the information," Villafuerte told Reuters.
MINING VS. FARMING?
Tambo Grande is considered to be a world-class project but the mineral-rich deposit lies beneath a small farming town.
Manhattan`s plan to develop a mine in a fertile farming valley some 640 miles (1,050 km) north of Peru`s capitaL, has triggered a bitter row with locals who say it would derail the farming industry and soil the environment.
That valley -- an irrigated pearl in arid northern Peru -- produces 40 percent of Peru`s mangoes and limes.
Manhattan has until May to exercise the option on the project. Energy and Mines Minister Jaime Quijandria said at the news conference, however, the ministry would be flexible in extending the deadline if necessary.
Quijandria also proposed that the Ombudsman`s office, Oxfam and Transparencia, a local non-governmental organization, could act as facilitators in the public hearings process.
"They could be the launching point so that they (Tambogrande residents) see that the ministry is not pressuring in favor of Manhattan`s interests," Quijandria said. "These are three institutions in which the population has confidence."
Oxfam financed a referendum in Tambogrande in June in which an overwhelming majority of voters rejected the project.
NEW PROCEDURES ON PUBLIC HEARINGS
Quijandria announced new prodedures for the process of public hearings on environmental impact studies for mining and energy projects.
In the past, environmental activists have criticized the process for failing to allow participation of the populations in areas near the projects.
The new rules include consultations with the population prior to the public hearings, better access to copies of environmental impact studies, increased citizen participation in the hearings, including language interpretation, and more input from regional authorities.
© Reuters Limited. All Rights Reserved.
Reproduction or redistribution of Reuters content, including framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
José
Manhattan ist deutlich unterbewertet und wird noch in ganz andere Kursregionen sich wieder bewegen
time will show you
interessante NEWS
Peru Seeks More Environment Info From Manhattan Minerals
17:21 GMT-05:00 Wednesday, January 08, 2003
By Mary Powers
LIMA, Peru (Reuters) - The Peruvian government has asked a subsidiary of Canadian junior Manhattan Minerals for additional information on an environmental impact study presented on the Tambo Grande gold, copper and zinc project in northern Peru, officials said Wednesday.
Manhattan presented the environmental impact study in December and said it hopes to start spending $180 million by late 2003 on the first phase of the project`s development.
But Vice-Minister of Mines Cesar Polo said the 120-day period foreseen by law for approving or rejecting the environmental impact study had been frozen until Manhattan submits the missing information.
"There is long list (of requirements) which includes a surface water study, study of air quality and other base line studies," Polo said at a news conference.
The Energy and Mines Ministry distributed copies of a letter to Manhattan from the National Institute of Natural Resources (Inrena) asking for copies of 12 baseline studies. Inrena said "an appropriate analysis" of the project`s potential environmental impact was impossible without them.
Americo Villafuerte, president of Manhattan Compania Minera, said the company would provide the information.
"The studies exist and we have no problem whatsoever in providing the information," Villafuerte told Reuters.
MINING VS. FARMING?
Tambo Grande is considered to be a world-class project but the mineral-rich deposit lies beneath a small farming town.
Manhattan`s plan to develop a mine in a fertile farming valley some 640 miles (1,050 km) north of Peru`s capitaL, has triggered a bitter row with locals who say it would derail the farming industry and soil the environment.
That valley -- an irrigated pearl in arid northern Peru -- produces 40 percent of Peru`s mangoes and limes.
Manhattan has until May to exercise the option on the project. Energy and Mines Minister Jaime Quijandria said at the news conference, however, the ministry would be flexible in extending the deadline if necessary.
Quijandria also proposed that the Ombudsman`s office, Oxfam and Transparencia, a local non-governmental organization, could act as facilitators in the public hearings process.
"They could be the launching point so that they (Tambogrande residents) see that the ministry is not pressuring in favor of Manhattan`s interests," Quijandria said. "These are three institutions in which the population has confidence."
Oxfam financed a referendum in Tambogrande in June in which an overwhelming majority of voters rejected the project.
NEW PROCEDURES ON PUBLIC HEARINGS
Quijandria announced new prodedures for the process of public hearings on environmental impact studies for mining and energy projects.
In the past, environmental activists have criticized the process for failing to allow participation of the populations in areas near the projects.
The new rules include consultations with the population prior to the public hearings, better access to copies of environmental impact studies, increased citizen participation in the hearings, including language interpretation, and more input from regional authorities.
© Reuters Limited. All Rights Reserved.
Reproduction or redistribution of Reuters content, including framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
José
etwas älter als ein Jahr
aber sehr informativ
LIMA -- fears farmers gold copper mine would ruin their livelihoods northern Peruvian town of Tambogrande should fade - once get more facts from an environmental impact study presented week, head of Canada`s Manhattan Minerals Corp. (MAN.TO) said.
The planned $405 million mine, which has drawn stiff opposition area`s farmers, will not rob fertile mango-and lime-growing fields water nor will dump waste water on farm land, said Larry Glaser, chairman and chief executive Manhattan Minerals.
Instead, mine will bring desperately needed jobs and investment region, he said.
Glaser told Reuters week during vis Lima that the Tambogrande mine, located about 1,050 kilometers north Lima valley produces 40 percent Peru`s mangoes limes, could up running late 2004, provided people back plan.
In June, Tambogrande residents turned out force an informal vote on project which 99 percent voters gave "thumbs down."
But 27 percent eligible voters did not take part the vote, which Manhattan Minerals denounced flawed.
A political hot potato
The case politically charged because mineral-rich Peru desperately needs foreign investment create jobs and boost prosperity.
But mining has bad environmental reputation. And Tambogrande one Andean nation`s prime farming areas.
"I think great deal difficulty with community in Tambogrande had with fact was misinformation misunderstanding related water consumption, water disposal concerns about the agriculture sector," Glaser said.
He said mine would not fact use water earmarked for agriculture, fertile, farm-rich San Lorenzo valley, would "zero discharge facility."
"I believe factual information - derived from independent consultants - distributed . . . can see that isn`t environmental damage," he added.
Manhattan Minerals presented its environmental impact study - which took three years compile cost about $2 million last 18 months alone - Peru`s government on Monday.
Its findings will discussed new year with local residents what Glaser anticipated would least 10 public meetings.
"Now time demonstrate population are responsive their issues," he said.
Jobs, Investment, Output 2004
According Manhattan Minerals` latest plans, capital investment will $405 million - higher than initial investment forecasts $315 million. That includes mine construction, cost relocating residents around 1,800 homes lie path open-cast mine, social projects $140 million effort mine copper underlying gold.
Manhattan Minerals, whose option on project expires on May 30, 2003, sees up 3,000 jobs building mine. Operating will employ 350 directly up 1,750 indirectly.
Manhattan Minerals operated gold mine Mexico until reserves ran out two years ago.
Tambogrande Canadian company`s only current project.
It expects operating costs $526 million during the 17-year life project pay royalties $229 million.
"I think we`d actually producing end 2004, but I don`t want jump gun on that," Glaser said. "That`s assuming have successfully reached goals the environmental impact study (have reached) consensus.
"At end day mine will not built unless there consensus opinion favor project."
Glaser said residents line relocation were among the mine`s staunchest supporters since stood gain modern new homes with facilities unavailable some parts of Tambogrande. Manhattan Minerals estimates only 15 percent of town`s homes have electricity, water, sewage and paved streets.
To sweeten deal farmers, Glaser said 25 percent of mine would remain hands Peruvian government should transferred local municipalities.
"It quite evident us agriculture sector in the region has been decay because lack capital investment. If government transferred 25 percent, at least municipalities agricultural regions will be provided with direct funds operation can use capital reinvestment agriculture well," he said.
José
aber sehr informativ
LIMA -- fears farmers gold copper mine would ruin their livelihoods northern Peruvian town of Tambogrande should fade - once get more facts from an environmental impact study presented week, head of Canada`s Manhattan Minerals Corp. (MAN.TO) said.
The planned $405 million mine, which has drawn stiff opposition area`s farmers, will not rob fertile mango-and lime-growing fields water nor will dump waste water on farm land, said Larry Glaser, chairman and chief executive Manhattan Minerals.
Instead, mine will bring desperately needed jobs and investment region, he said.
Glaser told Reuters week during vis Lima that the Tambogrande mine, located about 1,050 kilometers north Lima valley produces 40 percent Peru`s mangoes limes, could up running late 2004, provided people back plan.
In June, Tambogrande residents turned out force an informal vote on project which 99 percent voters gave "thumbs down."
But 27 percent eligible voters did not take part the vote, which Manhattan Minerals denounced flawed.
A political hot potato
The case politically charged because mineral-rich Peru desperately needs foreign investment create jobs and boost prosperity.
But mining has bad environmental reputation. And Tambogrande one Andean nation`s prime farming areas.
"I think great deal difficulty with community in Tambogrande had with fact was misinformation misunderstanding related water consumption, water disposal concerns about the agriculture sector," Glaser said.
He said mine would not fact use water earmarked for agriculture, fertile, farm-rich San Lorenzo valley, would "zero discharge facility."
"I believe factual information - derived from independent consultants - distributed . . . can see that isn`t environmental damage," he added.
Manhattan Minerals presented its environmental impact study - which took three years compile cost about $2 million last 18 months alone - Peru`s government on Monday.
Its findings will discussed new year with local residents what Glaser anticipated would least 10 public meetings.
"Now time demonstrate population are responsive their issues," he said.
Jobs, Investment, Output 2004
According Manhattan Minerals` latest plans, capital investment will $405 million - higher than initial investment forecasts $315 million. That includes mine construction, cost relocating residents around 1,800 homes lie path open-cast mine, social projects $140 million effort mine copper underlying gold.
Manhattan Minerals, whose option on project expires on May 30, 2003, sees up 3,000 jobs building mine. Operating will employ 350 directly up 1,750 indirectly.
Manhattan Minerals operated gold mine Mexico until reserves ran out two years ago.
Tambogrande Canadian company`s only current project.
It expects operating costs $526 million during the 17-year life project pay royalties $229 million.
"I think we`d actually producing end 2004, but I don`t want jump gun on that," Glaser said. "That`s assuming have successfully reached goals the environmental impact study (have reached) consensus.
"At end day mine will not built unless there consensus opinion favor project."
Glaser said residents line relocation were among the mine`s staunchest supporters since stood gain modern new homes with facilities unavailable some parts of Tambogrande. Manhattan Minerals estimates only 15 percent of town`s homes have electricity, water, sewage and paved streets.
To sweeten deal farmers, Glaser said 25 percent of mine would remain hands Peruvian government should transferred local municipalities.
"It quite evident us agriculture sector in the region has been decay because lack capital investment. If government transferred 25 percent, at least municipalities agricultural regions will be provided with direct funds operation can use capital reinvestment agriculture well," he said.
José
Manhattan Minerals
Frank Lechner
whynotgold@msn.com
(UPDATED) posted February 07, 2003
What if I told you there was a company out there that has an immense gold and silver deposit which is only the precursor to the mother lode? The actual mother lode consists of copper and zinc. This company makes for a great story also.
This deposit is located below a rural village; the town of Tambogrande in Northern Peru. What does that mean? It means that there have been stumbles along the way. During the last administration, the government was less a willing partner in mine development. This eventually resulted in an unlawful sabotage of the mining facilities. This cost the company upwards of a $1 Million, in lost facilities and assets. Since that period, the new government was elected, and a more conducive environment is taking shape. The Environmental Review has been submitted and appears to be on the fast track. The members of the community have submitted petitions for favorable development with over 10,000 signatures acquired.
The village is looking at this as an opportunity to break the poverty and destitution surrounding the area. The jobs gained will provide most welcome relief in an area that can surely use them. This will also improve the standard of living as kids will once again be able to attend school, people will be employed, and a vibrant community can once again become visible. Over the past couple of years, Manhattan has agreed to move any parts of the town that the mine would adversely affect.
This same company is located on the northern reaches of Peru near the Ecuadorian border. Where once the political situation was once volatile, this has now stabilized as Peru does have a democratically elected government. The current government is friendly toward mining companies whereas the last temporary government was, shall we say, adverse to the cause. Manhattan has gone out of its` way to be a good steward of the surrounding area and of the town itself.
The resources of this company are being realized on a continuous basis. They have proved three significant mineral assets. These are called TG-1 which is a gold and silver deposit on top of the copper zinc deposit, and TG-3 and B-5 high grade deposits. These deposits on top of the copper are mineable by open pit methods with a low strip ratio, thereby allowing mine payback to occur rather rapidly. This gold and silver should be recovered at 90% and 62% respectively.
The TG-1 deposit includes 1 Million ounces of Gold and 17 Million ounces of Silver sitting on top of 950,000 Tons of Copper along with 590,000 Tons of Zinc. The total deposit inclusive of the Copper/Zinc has the potential for 46.5M ounces of Silver. The TG-3 and B-5 deposits are located within 10km of each other. Manhattan has 900 square kilometers of exploration land concessions around the TG-1 deposit. It is my opinion that they are only beginning to unlock the value withheld in this area. From the company, "the rate of discovery is unprecedented", and "there are no other districts in the world where such large deposits occur within such close proximity".
The TG-3 Resources show the possibility of 2.1M ounces of Gold, 65.9M ounces of Silver, 820,000 tons of Copper, and a further 1.14M tons of Zinc. The size of this resource base continues to expand. With just the TG-1 and the TG-3 deposits, the potential is there for over 3M ounces of Gold, upwards of 120M ounces of Silver, 1.77M tones of Copper, and of course 1.73M tones of Zinc.
After only 10 holes at the B-5 deposit, a high grade copper deposit has become apparent. One hole intersected 4.6% Copper and 17.7g/ton of Silver. With further capital availability, I can see a truly world class mine taking shape here.
The economic analysis has been completed as of Sept 2002. The mining projects undiscounted project cash flow of US $220 Million. The internal rate of return is 21.6% over a 12 year life span. The Net Present Value of the project is $118.3 Million using a discount rate of 5%. The valuations are based on $320 Gold, $5 Silver, $0.90 Copper, and $0.45 Zinc prices. After 3 _ years the production will switch to primarily Copper and Zinc. The Gold and Silver are going to be used to fund the company through the start up phases. Effectively, an investor will have the opportunity to realize a copper deposit worth upwards of $1.56 Billion debt free. This doesn`t even account for the zinc deposit, or the deposits at TG-3 and B-5.
The above gives you a feel for what this company has hiding under the hood. Let`s take a look at current share values. There are about 45.4 Million shares outstanding.
Firstly, you can see last year after a realization of the true value of this company, the stock was hammered because of the protest at the mine site. This took it down to very convenient accumulation levels. This train is heading out of town, so now is the time to accumulate it accordingly. Just reaching its` old highs would put it up 100% from current levels. It is currently, at the lower end of its` trading range from the end of the bear market in precious metals in 2001. The upper end of this range is 1.40 or about 40% from current levels. The Net Present Value of this project equates to a share price of $3.03 US or C$ 4.66.
It is my opinion that as the resources are explored and developed in the future, that this stock will significantly pass the old price levels from the daily chart. The stock will then go on to attempt a run at the old highs from the following monthly chart:
This article is written as an informational document only. I have no ties to this company other than I own a position in this stock. You will need to complete your own due diligence accordingly. The very complete website is:
http://www.manhattan-min.com/s/Home.asp
Frank A Lechner
Frank Lechner
whynotgold@msn.com
(UPDATED) posted February 07, 2003
What if I told you there was a company out there that has an immense gold and silver deposit which is only the precursor to the mother lode? The actual mother lode consists of copper and zinc. This company makes for a great story also.
This deposit is located below a rural village; the town of Tambogrande in Northern Peru. What does that mean? It means that there have been stumbles along the way. During the last administration, the government was less a willing partner in mine development. This eventually resulted in an unlawful sabotage of the mining facilities. This cost the company upwards of a $1 Million, in lost facilities and assets. Since that period, the new government was elected, and a more conducive environment is taking shape. The Environmental Review has been submitted and appears to be on the fast track. The members of the community have submitted petitions for favorable development with over 10,000 signatures acquired.
The village is looking at this as an opportunity to break the poverty and destitution surrounding the area. The jobs gained will provide most welcome relief in an area that can surely use them. This will also improve the standard of living as kids will once again be able to attend school, people will be employed, and a vibrant community can once again become visible. Over the past couple of years, Manhattan has agreed to move any parts of the town that the mine would adversely affect.
This same company is located on the northern reaches of Peru near the Ecuadorian border. Where once the political situation was once volatile, this has now stabilized as Peru does have a democratically elected government. The current government is friendly toward mining companies whereas the last temporary government was, shall we say, adverse to the cause. Manhattan has gone out of its` way to be a good steward of the surrounding area and of the town itself.
The resources of this company are being realized on a continuous basis. They have proved three significant mineral assets. These are called TG-1 which is a gold and silver deposit on top of the copper zinc deposit, and TG-3 and B-5 high grade deposits. These deposits on top of the copper are mineable by open pit methods with a low strip ratio, thereby allowing mine payback to occur rather rapidly. This gold and silver should be recovered at 90% and 62% respectively.
The TG-1 deposit includes 1 Million ounces of Gold and 17 Million ounces of Silver sitting on top of 950,000 Tons of Copper along with 590,000 Tons of Zinc. The total deposit inclusive of the Copper/Zinc has the potential for 46.5M ounces of Silver. The TG-3 and B-5 deposits are located within 10km of each other. Manhattan has 900 square kilometers of exploration land concessions around the TG-1 deposit. It is my opinion that they are only beginning to unlock the value withheld in this area. From the company, "the rate of discovery is unprecedented", and "there are no other districts in the world where such large deposits occur within such close proximity".
The TG-3 Resources show the possibility of 2.1M ounces of Gold, 65.9M ounces of Silver, 820,000 tons of Copper, and a further 1.14M tons of Zinc. The size of this resource base continues to expand. With just the TG-1 and the TG-3 deposits, the potential is there for over 3M ounces of Gold, upwards of 120M ounces of Silver, 1.77M tones of Copper, and of course 1.73M tones of Zinc.
After only 10 holes at the B-5 deposit, a high grade copper deposit has become apparent. One hole intersected 4.6% Copper and 17.7g/ton of Silver. With further capital availability, I can see a truly world class mine taking shape here.
The economic analysis has been completed as of Sept 2002. The mining projects undiscounted project cash flow of US $220 Million. The internal rate of return is 21.6% over a 12 year life span. The Net Present Value of the project is $118.3 Million using a discount rate of 5%. The valuations are based on $320 Gold, $5 Silver, $0.90 Copper, and $0.45 Zinc prices. After 3 _ years the production will switch to primarily Copper and Zinc. The Gold and Silver are going to be used to fund the company through the start up phases. Effectively, an investor will have the opportunity to realize a copper deposit worth upwards of $1.56 Billion debt free. This doesn`t even account for the zinc deposit, or the deposits at TG-3 and B-5.
The above gives you a feel for what this company has hiding under the hood. Let`s take a look at current share values. There are about 45.4 Million shares outstanding.
Firstly, you can see last year after a realization of the true value of this company, the stock was hammered because of the protest at the mine site. This took it down to very convenient accumulation levels. This train is heading out of town, so now is the time to accumulate it accordingly. Just reaching its` old highs would put it up 100% from current levels. It is currently, at the lower end of its` trading range from the end of the bear market in precious metals in 2001. The upper end of this range is 1.40 or about 40% from current levels. The Net Present Value of this project equates to a share price of $3.03 US or C$ 4.66.
It is my opinion that as the resources are explored and developed in the future, that this stock will significantly pass the old price levels from the daily chart. The stock will then go on to attempt a run at the old highs from the following monthly chart:
This article is written as an informational document only. I have no ties to this company other than I own a position in this stock. You will need to complete your own due diligence accordingly. The very complete website is:
http://www.manhattan-min.com/s/Home.asp
Frank A Lechner
Marktkap. gerade noch 20 Millionen Can. Dollar
José
José
Monday, Oct. 27, 2003
Not Golden
In Peru, locals are resisting foreign-owned mining companies, even at the price of continuing poverty
By TIMOTHY PADGETT AND LUCIEN O. CHAUVIN
The Manhattan Minerals plan looks like a good deal for the folks of Tambogrande, Peru. The Vancouver-based firm wants to invest $405 million to mine gold at Tambogrande, a town of 16,000 people in Peru`s impoverished, northwest Piura state. Manhattan has promised to build new public infrastructure and to erect new, modern homes for any relocated residents — about a third of the town`s population. The neighborhood would have electricity, potable running water, sewerage and paved streets — amenities now available to only 15% of the people in that area.
But Tambogrande seems to want none of it. Although two-thirds of the people in Piura live on less than $2 a day, 90% of Tambogrande`s voters rejected the Manhattan Minerals project in a nonbinding referendum late last year. Many are fearful that the open-pit mine will corrupt their farmlands, even though Manhattan pledges not to sully or siphon off the area`s precious irrigation canals and reservoirs. "We are not going to allow a mine to destroy our way of life," says Tambogrande Mayor Francisco Ojeda.
The only consolation for Manhattan Minerals is that it has a lot of company these days in Peru — where U.S., Canadian and other foreign firms are suddenly mining a mother lode of resentment. In the 1990s, when then bankrupt Peru opened its statist economy to foreign investment, the nation drew almost $10 billion in mining capital. That sector now accounts for half of Peru`s $8 billion in exports, and Peru has become the world`s seventh largest gold producer almost overnight.
Yet if mining saved Peru`s macroeconomy, many Peruvians say they have seen too few benefits under their own roofs. It is a complaint heard from Nigeria to Papua New Guinea: national governments make deals, and the locals get shortchanged. As a result, local protests are stalling at least 10 mining-investment projects in Peru that are worth $1.4 billion. In the northern town of Cajamarca, whose decade-old Yanacocha gold mine is the world`s second largest, residents are loudly demonstrating against expansion plans by the mine`s U.S. co-owner, Denver-based Newmont Mining Corp. (2002 revenues: $2.75 billion). Yanacocha mined 2.3 million oz. of gold last year and earned $700 million, but 75% of the town`s population lives in poverty. Cajamarca resident Silvio Suarez likes to show tourists the "ransom room," a stone building that the last Inca Emperor, Atahualpa, filled with gold for the Spaniards in 1532. Then they killed him. Foreign-owned mines, says Suarez, "are taking our gold the way the Spaniards took the Inca gold to their king."
That`s a simplistic, if inaccurate, charge. Yet those historical grievances, says Peruvian economist Hernando de Soto, are something foreign investors have too quickly forgotten — not just in Peru but throughout Latin America, where politics are turning sharply leftward after the capitalist reforms of the `90s left more of the region in poverty.
It`s hard to believe that Peruvians could pine for the days when incompetent and corrupt state ownership made their mines a global laughingstock. But in most of rural Latin America, globalism is still an obscure term, and the communal economy is still a strong tradition. So "this is now as much about people`s minds as their pocketbooks," warns De Soto. He concedes that mines usually pay almost twice Peru`s minimum wage of $135 a month; but for most Peruvians, that doesn`t compensate for "the loss of their sense of environmental and economic sovereignty." If so, Peru`s government bears blame. Yanacocha paid Lima $50 million in royalties last year. But only $850,000 of it found its way to Cajamarca. That fact angers even the 7,000 locals directly employed by the mine, which has reserves to stay in operation for another 30 years.
Most other Peruvian mining towns are similarly deprived. As a result, the private National Society of Mining, Petroleum & Energy is urging the foundering government of President Alejandro Toledo to adopt reforms that immediately give at least 20% of the royalties to on-site communities instead of Lima bureaucrats. Manhattan Minerals CEO Lawrence Glaser thinks local communities should receive an even bigger cut — making the towns, in effect, feel more like shareholders. "These community leaders should be worried that the backlash is turning Peru into a much less attractive place for international investment," says Glaser. "But the cultural legacy does matter here, and trickle-down just didn`t work in the `90s — so we have to figure out how to give these local communities more of a stake in these mines."
Yanacocha`s general manager, Carlos Santa Cruz, a Peruvian, agrees: Lima and the foreign firms "need to define where we can collaborate on projects that ensure long-term development" in rural Peru — development, he adds, "that will be here when the mine closes." Toward that end, Toledo has at least reversed rules that restrict gold to export only. Letting more of it stay inside Peru, he hopes, will help on-site communities develop jewelry industries.
Another hurdle is the environment. Manhattan Minerals plans to pay $100 million in wages during the estimated dozen years that the Tambogrande mine would operate. But locals insist that agriculture near the mine is a $60 million-a-year concern, and they don`t want it threatened by terrain-scarring open-pit mining. In the southern Andean town of Lircay in Peru`s poorest state, Huancavelica, residents feel the same way — so much so, in fact, that they recently took to the streets to block a proposed open-pit mine there, setting fire to government installations and attacking visiting officials from the Energy and Mines Ministry.
Although the era of state-owned mining created most of the environmental problems, the companies that bought up Peru`s mines in the `90s now cope with them. Consider the La Oroya copper smelter in the central Andes region, which Doe Run, based in St. Louis, Mo., bought in 1997 for $150 million. Last year Doe Run dodged bankruptcy by restructuring (2001 revenues: $737.5 million). The government gave the company 10 years to clean up the environmental mess at an additional cost of some $100 million. It has spent $40 million so far, including money for a program to reduce high blood-lead levels in area children.
"We have made La Oroya and its surroundings better than it was in 1997," insists Doe Run Peru president Ken Buckley. That`s not enough, say critics, who argue that Doe Run is speeding up production to recoup its investment and doing little to reduce lead levels in the surrounding air, which are 700 times internationally accepted levels. (Doe Run is also in the cross hairs of the Environmental Protection Agency back in the U.S. for lead-poisoning problems.)
The bottom line is that Peru needs the investment: 54% of its 27 million people still live in poverty, and the government is tapped out — especially after the massive financial scandals of now disgraced ex-President Alberto Fujimori. "If we have to sit down with a community a thousand times, that`s what we`ll do" to resolve the backlash, says Finance Minister Jaime Quijandria. "But we are not going to pressure people if they want to stay poor." The problem is that until now, no one has bothered to show people how a mine can make them richer without ruining their heritage.
Copyright © 2004 Time Inc. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
José
Not Golden
In Peru, locals are resisting foreign-owned mining companies, even at the price of continuing poverty
By TIMOTHY PADGETT AND LUCIEN O. CHAUVIN
The Manhattan Minerals plan looks like a good deal for the folks of Tambogrande, Peru. The Vancouver-based firm wants to invest $405 million to mine gold at Tambogrande, a town of 16,000 people in Peru`s impoverished, northwest Piura state. Manhattan has promised to build new public infrastructure and to erect new, modern homes for any relocated residents — about a third of the town`s population. The neighborhood would have electricity, potable running water, sewerage and paved streets — amenities now available to only 15% of the people in that area.
But Tambogrande seems to want none of it. Although two-thirds of the people in Piura live on less than $2 a day, 90% of Tambogrande`s voters rejected the Manhattan Minerals project in a nonbinding referendum late last year. Many are fearful that the open-pit mine will corrupt their farmlands, even though Manhattan pledges not to sully or siphon off the area`s precious irrigation canals and reservoirs. "We are not going to allow a mine to destroy our way of life," says Tambogrande Mayor Francisco Ojeda.
The only consolation for Manhattan Minerals is that it has a lot of company these days in Peru — where U.S., Canadian and other foreign firms are suddenly mining a mother lode of resentment. In the 1990s, when then bankrupt Peru opened its statist economy to foreign investment, the nation drew almost $10 billion in mining capital. That sector now accounts for half of Peru`s $8 billion in exports, and Peru has become the world`s seventh largest gold producer almost overnight.
Yet if mining saved Peru`s macroeconomy, many Peruvians say they have seen too few benefits under their own roofs. It is a complaint heard from Nigeria to Papua New Guinea: national governments make deals, and the locals get shortchanged. As a result, local protests are stalling at least 10 mining-investment projects in Peru that are worth $1.4 billion. In the northern town of Cajamarca, whose decade-old Yanacocha gold mine is the world`s second largest, residents are loudly demonstrating against expansion plans by the mine`s U.S. co-owner, Denver-based Newmont Mining Corp. (2002 revenues: $2.75 billion). Yanacocha mined 2.3 million oz. of gold last year and earned $700 million, but 75% of the town`s population lives in poverty. Cajamarca resident Silvio Suarez likes to show tourists the "ransom room," a stone building that the last Inca Emperor, Atahualpa, filled with gold for the Spaniards in 1532. Then they killed him. Foreign-owned mines, says Suarez, "are taking our gold the way the Spaniards took the Inca gold to their king."
That`s a simplistic, if inaccurate, charge. Yet those historical grievances, says Peruvian economist Hernando de Soto, are something foreign investors have too quickly forgotten — not just in Peru but throughout Latin America, where politics are turning sharply leftward after the capitalist reforms of the `90s left more of the region in poverty.
It`s hard to believe that Peruvians could pine for the days when incompetent and corrupt state ownership made their mines a global laughingstock. But in most of rural Latin America, globalism is still an obscure term, and the communal economy is still a strong tradition. So "this is now as much about people`s minds as their pocketbooks," warns De Soto. He concedes that mines usually pay almost twice Peru`s minimum wage of $135 a month; but for most Peruvians, that doesn`t compensate for "the loss of their sense of environmental and economic sovereignty." If so, Peru`s government bears blame. Yanacocha paid Lima $50 million in royalties last year. But only $850,000 of it found its way to Cajamarca. That fact angers even the 7,000 locals directly employed by the mine, which has reserves to stay in operation for another 30 years.
Most other Peruvian mining towns are similarly deprived. As a result, the private National Society of Mining, Petroleum & Energy is urging the foundering government of President Alejandro Toledo to adopt reforms that immediately give at least 20% of the royalties to on-site communities instead of Lima bureaucrats. Manhattan Minerals CEO Lawrence Glaser thinks local communities should receive an even bigger cut — making the towns, in effect, feel more like shareholders. "These community leaders should be worried that the backlash is turning Peru into a much less attractive place for international investment," says Glaser. "But the cultural legacy does matter here, and trickle-down just didn`t work in the `90s — so we have to figure out how to give these local communities more of a stake in these mines."
Yanacocha`s general manager, Carlos Santa Cruz, a Peruvian, agrees: Lima and the foreign firms "need to define where we can collaborate on projects that ensure long-term development" in rural Peru — development, he adds, "that will be here when the mine closes." Toward that end, Toledo has at least reversed rules that restrict gold to export only. Letting more of it stay inside Peru, he hopes, will help on-site communities develop jewelry industries.
Another hurdle is the environment. Manhattan Minerals plans to pay $100 million in wages during the estimated dozen years that the Tambogrande mine would operate. But locals insist that agriculture near the mine is a $60 million-a-year concern, and they don`t want it threatened by terrain-scarring open-pit mining. In the southern Andean town of Lircay in Peru`s poorest state, Huancavelica, residents feel the same way — so much so, in fact, that they recently took to the streets to block a proposed open-pit mine there, setting fire to government installations and attacking visiting officials from the Energy and Mines Ministry.
Although the era of state-owned mining created most of the environmental problems, the companies that bought up Peru`s mines in the `90s now cope with them. Consider the La Oroya copper smelter in the central Andes region, which Doe Run, based in St. Louis, Mo., bought in 1997 for $150 million. Last year Doe Run dodged bankruptcy by restructuring (2001 revenues: $737.5 million). The government gave the company 10 years to clean up the environmental mess at an additional cost of some $100 million. It has spent $40 million so far, including money for a program to reduce high blood-lead levels in area children.
"We have made La Oroya and its surroundings better than it was in 1997," insists Doe Run Peru president Ken Buckley. That`s not enough, say critics, who argue that Doe Run is speeding up production to recoup its investment and doing little to reduce lead levels in the surrounding air, which are 700 times internationally accepted levels. (Doe Run is also in the cross hairs of the Environmental Protection Agency back in the U.S. for lead-poisoning problems.)
The bottom line is that Peru needs the investment: 54% of its 27 million people still live in poverty, and the government is tapped out — especially after the massive financial scandals of now disgraced ex-President Alberto Fujimori. "If we have to sit down with a community a thousand times, that`s what we`ll do" to resolve the backlash, says Finance Minister Jaime Quijandria. "But we are not going to pressure people if they want to stay poor." The problem is that until now, no one has bothered to show people how a mine can make them richer without ruining their heritage.
Copyright © 2004 Time Inc. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
José
wenn alles klappt und die "Dinge" geregelt werden (wie auch immer, ob mit neuem Management, Vereinbarung mit Rergierung bzw. Bewohnern, Auflagen erfüllt, .... )
mein Kursziel liegt bei mind. 2 Can Dollar
invest antizyklisch
José de la Vega
mein Kursziel liegt bei mind. 2 Can Dollar
invest antizyklisch
José de la Vega
hallo jose
deine tipps sind wirklich durchdacht wenn in diesem fall auch etwas gewagt, aber vielleicht einen versuch wert.
ich bin ja kein experte, doch das mit der umweltverschmutzung durch minen stimmt eben schon, nur schon der staub kann besonders in einem wüstenklima (?) verherende folgen haben (vgl DDT-Spritzmittel in bauwollplantagen in kazakhstan)
Auch die glaub ich zyanidhaltigen lösungsmittel für kupfer und andere erze sind ein riesenproblem wohl eben wieder auch in trockengebieten ohne abfluss.
was hälst Du eigentlich von der auf russlandaktien.info vorgestellten (unter kaspispezial )
BMB MUNAI ?
sicher hochgefährlich, aber vielleicht kennst du bessere quellen.
angeblich 100 mio barrel in azerbeijan und insider-leute aus der kasachischen öl und bankenszene (sec-fillings)
Das kann gut aber auch schlecht sein.
gruss
deine tipps sind wirklich durchdacht wenn in diesem fall auch etwas gewagt, aber vielleicht einen versuch wert.
ich bin ja kein experte, doch das mit der umweltverschmutzung durch minen stimmt eben schon, nur schon der staub kann besonders in einem wüstenklima (?) verherende folgen haben (vgl DDT-Spritzmittel in bauwollplantagen in kazakhstan)
Auch die glaub ich zyanidhaltigen lösungsmittel für kupfer und andere erze sind ein riesenproblem wohl eben wieder auch in trockengebieten ohne abfluss.
was hälst Du eigentlich von der auf russlandaktien.info vorgestellten (unter kaspispezial )
BMB MUNAI ?
sicher hochgefährlich, aber vielleicht kennst du bessere quellen.
angeblich 100 mio barrel in azerbeijan und insider-leute aus der kasachischen öl und bankenszene (sec-fillings)
Das kann gut aber auch schlecht sein.
gruss
zu MAN.TO
habe die Tage genutzt und weitere Pos. aufgebaut
diese Company gefällt mir sehr gut
aktuell 0,215 zu 0,225 Euro
José
habe die Tage genutzt und weitere Pos. aufgebaut
diese Company gefällt mir sehr gut
aktuell 0,215 zu 0,225 Euro
José
heute 0,35 CAD
über +9%
madi
über +9%
madi
0,35 Can Dollar ist NICHTS
und definitiv eine bisher nicht aufgegangene Spekulation von mir
dazu stehe ich
doch was nicht ist ....
Manhattan ist m.E. nach sehr interessant und unser aller Lawrence wird seinen Job gut machen und dann sehen wir MAN wieder über 1 Can Dollar
diese Company ist m.E. nach nicht am Ende wie alle Welt glaubt !!!
bin weiter long !!
allen eine gute Nacht und ein schönes Wochenende
José
und definitiv eine bisher nicht aufgegangene Spekulation von mir
dazu stehe ich
doch was nicht ist ....
Manhattan ist m.E. nach sehr interessant und unser aller Lawrence wird seinen Job gut machen und dann sehen wir MAN wieder über 1 Can Dollar
diese Company ist m.E. nach nicht am Ende wie alle Welt glaubt !!!
bin weiter long !!
allen eine gute Nacht und ein schönes Wochenende
José
0,38 Can Dollar
bei anziehenden Umsätzen
was da wohl in den nächsten Tagen so passieren wird ? !
José
bei anziehenden Umsätzen
was da wohl in den nächsten Tagen so passieren wird ? !
José
Manhattan Minerals Corp.: Notification Of Arbitration Proceedings
2/16/04
VANCOUVER, BRITISH COLUMBIA, Feb 16, 2004 (CCNMatthews via COMTEX) --
Manhattan Minerals Corp. announces that it has notified Centromin Peru, an agency of the Peruvian government, that it has decided to commence arbitration proceedings regarding Centromin`s December 10, 2003 ruling on the Tambogrande Option Agre
ement.
Manhattan entered into the Option Agreement with Centromin Peru in May, 1999. Arbitration is a defined mechanism for the resolution of disputes under the terms of the Option Agreement.
The Company anticipates that the arbitration process may take up to 6 months. The Company has retained legal counsel for this process, and will shortly be appointing its arbitrator, and presenting evidence in support of its position.
During the period of arbitration, the company does not anticipate making any public comments regarding the arbitration.
While the arbitration on the Tambogrande concessions is proceeding, the Company is continuing its planned program to resume drilling on its 3,200 hectare Papayo concessions, in which it is earning a 51% ownership interest from Cedimin S.A.C., a wholly owned subsidiary of Compania de Minas Buenaventura. These concessions are located well south of the town of Tambogrande, in a rural area with no irrigated agriculture. The Company had previously completed a first stage of drilling on this land, and had identified the B-5 project, with drill intercepts including 86 meters of 2.7% copper in hole B5-014, and 52.8 meters of 4.6% copper in hole B5-008. The Company is advancing negotiations with local communities to resume exploration in this area.
Manhattan maintains over 50,000 additional hectares of exploration land known as the Lancones concessions which encapsulate the Papayo and Tambogrande Concessions, and which contain additional copper-gold massive sulfide geophysics targets.
Manhattan Minerals Corp. Lawrence Glaser Chairman, President, CEO (604) 669-3397 www.manhattan-min.com
NEWS RELEASE TRANSMITTED BY CCNMatthews
Copyright (C) 2004, CCNMatthews. All rights reserved.
Blacky
2/16/04
VANCOUVER, BRITISH COLUMBIA, Feb 16, 2004 (CCNMatthews via COMTEX) --
Manhattan Minerals Corp. announces that it has notified Centromin Peru, an agency of the Peruvian government, that it has decided to commence arbitration proceedings regarding Centromin`s December 10, 2003 ruling on the Tambogrande Option Agre
ement.
Manhattan entered into the Option Agreement with Centromin Peru in May, 1999. Arbitration is a defined mechanism for the resolution of disputes under the terms of the Option Agreement.
The Company anticipates that the arbitration process may take up to 6 months. The Company has retained legal counsel for this process, and will shortly be appointing its arbitrator, and presenting evidence in support of its position.
During the period of arbitration, the company does not anticipate making any public comments regarding the arbitration.
While the arbitration on the Tambogrande concessions is proceeding, the Company is continuing its planned program to resume drilling on its 3,200 hectare Papayo concessions, in which it is earning a 51% ownership interest from Cedimin S.A.C., a wholly owned subsidiary of Compania de Minas Buenaventura. These concessions are located well south of the town of Tambogrande, in a rural area with no irrigated agriculture. The Company had previously completed a first stage of drilling on this land, and had identified the B-5 project, with drill intercepts including 86 meters of 2.7% copper in hole B5-014, and 52.8 meters of 4.6% copper in hole B5-008. The Company is advancing negotiations with local communities to resume exploration in this area.
Manhattan maintains over 50,000 additional hectares of exploration land known as the Lancones concessions which encapsulate the Papayo and Tambogrande Concessions, and which contain additional copper-gold massive sulfide geophysics targets.
Manhattan Minerals Corp. Lawrence Glaser Chairman, President, CEO (604) 669-3397 www.manhattan-min.com
NEWS RELEASE TRANSMITTED BY CCNMatthews
Copyright (C) 2004, CCNMatthews. All rights reserved.
Blacky
ja ja die Geduld
doch viel wichtiger:
WERDET RUHIG vor dem HERRN und wartet geduldig auf sein Handeln ! Psalm 37 Vers 7
Die Beziehung zu Gott im Himmel ist der Sinn unseres Lebens - das sollte uns klar sein !!!
da gerät eine MAN doch ins Abseits bzw. man findet den Blick für die wirklichen Prioritäten !
Tue gutes und vertraut auf den Herrn ! Nehmt euch mal was vor für morgen - was gutes zu tun ! Ich hab am Wochenende eine ältere Frau kennengelernt, welcher ich wohl morgen mal ein kleines Kärchten schicken werde und sie aufmuntern, sie hat ihren Mann verl. - macht das zum Lob von Gott der uns so reich beschenkt hat: wir dürfen Luft atmen, haben ein warmes Haus, gesunde Kinder, ...
MAN wird seinen Weg gehen
der CEO und die Leute in der Company arbeiten dafür hart
euch allen eine gute Nacht
euer
José
Manhattan takes Peru mine dispute to arbitrator
Monday February 16, 11:14 am ET
VANCOUVER, British Columbia , Feb 16 (Reuters) - Manhattan
Minerals Corp. (Toronto:MAN.TO - News) said on Monday it would start
arbitration action after the Peruvian government shut the door
on a gold mine the Canadian company was planning to build.
The Vancouver-based firm said it had notified Centromin
Peru, an agency of the Peruvian government, of the planned
arbitration, which Manhattan said was defined in an agreement
it had with the government as a means to settle disputes.
Peru`s government was a partner with Manhattan in a project
to build a small gold mine at Tambogrande in northern Peru. But
in December, the government ended the deal and said Manhattan
couldn`t go ahead with the mine because it had failed to meet
required terms.
The halt came after years of protests by local farmers, who
argued that a mine would kill their livelihood in the
fruit-growing region.
Manhattan, which had invested $60 million in the project,
insisted all terms were met. Its stock halved in value after
the decision on Dec. 10.
Arbitration is expected to take up to six months, Manhattan
said. Manhattan still plans to resume exploration on a property
south of Tambogrande, which the company said was "in a rural
area with no irrigated agriculture" and where it has previously
found copper.
The firm`s stock was 1.5 Canadian cents firmer on Monday at
39.5 Canadian cents.
José
doch viel wichtiger:
WERDET RUHIG vor dem HERRN und wartet geduldig auf sein Handeln ! Psalm 37 Vers 7
Die Beziehung zu Gott im Himmel ist der Sinn unseres Lebens - das sollte uns klar sein !!!
da gerät eine MAN doch ins Abseits bzw. man findet den Blick für die wirklichen Prioritäten !
Tue gutes und vertraut auf den Herrn ! Nehmt euch mal was vor für morgen - was gutes zu tun ! Ich hab am Wochenende eine ältere Frau kennengelernt, welcher ich wohl morgen mal ein kleines Kärchten schicken werde und sie aufmuntern, sie hat ihren Mann verl. - macht das zum Lob von Gott der uns so reich beschenkt hat: wir dürfen Luft atmen, haben ein warmes Haus, gesunde Kinder, ...
MAN wird seinen Weg gehen
der CEO und die Leute in der Company arbeiten dafür hart
euch allen eine gute Nacht
euer
José
Manhattan takes Peru mine dispute to arbitrator
Monday February 16, 11:14 am ET
VANCOUVER, British Columbia , Feb 16 (Reuters) - Manhattan
Minerals Corp. (Toronto:MAN.TO - News) said on Monday it would start
arbitration action after the Peruvian government shut the door
on a gold mine the Canadian company was planning to build.
The Vancouver-based firm said it had notified Centromin
Peru, an agency of the Peruvian government, of the planned
arbitration, which Manhattan said was defined in an agreement
it had with the government as a means to settle disputes.
Peru`s government was a partner with Manhattan in a project
to build a small gold mine at Tambogrande in northern Peru. But
in December, the government ended the deal and said Manhattan
couldn`t go ahead with the mine because it had failed to meet
required terms.
The halt came after years of protests by local farmers, who
argued that a mine would kill their livelihood in the
fruit-growing region.
Manhattan, which had invested $60 million in the project,
insisted all terms were met. Its stock halved in value after
the decision on Dec. 10.
Arbitration is expected to take up to six months, Manhattan
said. Manhattan still plans to resume exploration on a property
south of Tambogrande, which the company said was "in a rural
area with no irrigated agriculture" and where it has previously
found copper.
The firm`s stock was 1.5 Canadian cents firmer on Monday at
39.5 Canadian cents.
José
seit mal bei MAN ein wenig vorsichtig
könnte noch ne negative Sache anstehen
also vielleicht etwas ....
des Weiteren sollte aber auch was pos. kommen - die Frage ist also was wird der Markt mehr gewichten !
hoffe, dass ich ein Abtauchen bekomme und in dieser Schwäche dann Stücke aufladen kann
José
könnte noch ne negative Sache anstehen
also vielleicht etwas ....
des Weiteren sollte aber auch was pos. kommen - die Frage ist also was wird der Markt mehr gewichten !
hoffe, dass ich ein Abtauchen bekomme und in dieser Schwäche dann Stücke aufladen kann
José
=======================================================================
Re: News Release - Monday, March 08, 2004
Business Plan Review And Management Changes =======================================================================
The Board of Directors of Manhattan Minerals Corp. today announced organizational changes and its review of the Company`s business plan.
The Company remains of the view that its existing assets in Peru are technically and economically amongst the best available in the mining sector, and the Company remains committed to these projects. However, the Company has also decided to diversify its asset base and is now evaluating and reviewing copper and gold projects in other countries.
To assist in executing the business plan, Manhattan has recently retained two advisors to assist the Company to undertake and to bring to the Company project and corporate opportunities that may result in increased shareholder value. On March 31, 2004, Dr. Lawrence Glaser, currently Chairman, President, and CEO of Manhattan, will be stepping down from the position of President and CEO, but will remain as Chairman. The Company has commenced an executive search and selection process for a new President. On March 15, 2004, Horng Dih Lee will be stepping down from his position as Chief Financial Officer to pursue other interests. The Board would like to express its appreciation to Mr. Lee for his contributions to the Company. Mr. Americo Villafuerte, President of the Company`s Peruvian subsidiaries, will continue in his current position with responsibility for all Peruvian operations.
Dr. Glaser issued the following statement: "In stepping down from the Company, I am expressing my strongly held belief that companies must never be shy about making adjustments and acquiring sets of management skills that are needed to build value and move in profitable directions quickly. Having spent the past 3 years working exclusively on the Peruvian assets of the Company, it is important that the Company have the people and access to successfully acquire additional assets while also continuing to move forward in Peru. It is imperative that we take the necessary initiatives to regain value for our shareholders, and this includes arbitration on the Tambogrande assets, exploration on our existing assets in Peru, and acquisition and development of additional projects. We are making good progress in those communities where we have high priority drilling targets on the Papayo concessions, and we are currently working on our nominee and evidence for the arbitration on the Tambogrande concessions."
For additional information, please contact:
Dr. Lawrence Glaser
Chairman, President, and CEO
604-669-3397
www.manhattan-min.com
Re: News Release - Monday, March 08, 2004
Business Plan Review And Management Changes =======================================================================
The Board of Directors of Manhattan Minerals Corp. today announced organizational changes and its review of the Company`s business plan.
The Company remains of the view that its existing assets in Peru are technically and economically amongst the best available in the mining sector, and the Company remains committed to these projects. However, the Company has also decided to diversify its asset base and is now evaluating and reviewing copper and gold projects in other countries.
To assist in executing the business plan, Manhattan has recently retained two advisors to assist the Company to undertake and to bring to the Company project and corporate opportunities that may result in increased shareholder value. On March 31, 2004, Dr. Lawrence Glaser, currently Chairman, President, and CEO of Manhattan, will be stepping down from the position of President and CEO, but will remain as Chairman. The Company has commenced an executive search and selection process for a new President. On March 15, 2004, Horng Dih Lee will be stepping down from his position as Chief Financial Officer to pursue other interests. The Board would like to express its appreciation to Mr. Lee for his contributions to the Company. Mr. Americo Villafuerte, President of the Company`s Peruvian subsidiaries, will continue in his current position with responsibility for all Peruvian operations.
Dr. Glaser issued the following statement: "In stepping down from the Company, I am expressing my strongly held belief that companies must never be shy about making adjustments and acquiring sets of management skills that are needed to build value and move in profitable directions quickly. Having spent the past 3 years working exclusively on the Peruvian assets of the Company, it is important that the Company have the people and access to successfully acquire additional assets while also continuing to move forward in Peru. It is imperative that we take the necessary initiatives to regain value for our shareholders, and this includes arbitration on the Tambogrande assets, exploration on our existing assets in Peru, and acquisition and development of additional projects. We are making good progress in those communities where we have high priority drilling targets on the Papayo concessions, and we are currently working on our nominee and evidence for the arbitration on the Tambogrande concessions."
For additional information, please contact:
Dr. Lawrence Glaser
Chairman, President, and CEO
604-669-3397
www.manhattan-min.com
Beitrag zu dieser Diskussion schreiben
Zu dieser Diskussion können keine Beiträge mehr verfasst werden, da der letzte Beitrag vor mehr als zwei Jahren verfasst wurde und die Diskussion daraufhin archiviert wurde.
Bitte wenden Sie sich an feedback@wallstreet-online.de und erfragen Sie die Reaktivierung der Diskussion oder starten Sie eine neue Diskussion.
Investoren beobachten auch:
Wertpapier | Perf. % |
---|---|
0,00 | |
+2,27 | |
0,00 | |
-1,96 |
Meistdiskutiert
Wertpapier | Beiträge | |
---|---|---|
182 | ||
65 | ||
59 | ||
48 | ||
38 | ||
36 | ||
31 | ||
30 | ||
30 | ||
29 |