El Brocal seeks US$2mn bank credit
Bnamericas Published: Wednesday, May 25, 2005
The board of Peruvian polymetallic miner El Brocal has authorized management to negotiate a bank credit for up to US$2mn, the company told the Lima stock exchange. The funds will be used to acquire real estate and other assets, including flotation cells to expand the flotation circuit, said El Brocal. El Brocal mines the Colquijirca polymetallic open-pit mine in central Peru's Pasco department, producing zinc, lead and silver. In the first quarter this year the mine produced 13,534t of zinc, 2% higher than in 1Q04, 831,728oz of silver, up 15%, and 6,894t of lead, a decrease of 4% year-on-year. El Brocal also has the San Gregorio zinc and Marcapunta copper-gold projects close to its current operation.
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