AIM Exploration (AEXE) has received approval to develop a coal mine in the Alto Chicama Basin, Otuzco Province, Peru, by the local village – a requirement under Peruvian government regulations. More than 80% of residents of Lajon Village have now signed off on the project, providing long-term stability for the project.
The majority of local artisan miners who are currently mining on the company’s properties have also agreed to become independent contractors with AEXE to mine the existing 20 tunnels.
As a result, AEXE will be able to go into production as soon as all government approvals are obtained, which the company expects to be in Q1 of next year."AEXA is very pleased with these two developments, said J.R. Todhunter, the company’s president. “Not only is this good for the local community but it is great news for the shareholders of AEXE. The local community will benefit from increased employment, better infrastructure and a better local economy. The shareholders of AEXE should see a benefit to the share value and the development of a solid mining company. This is a win for all involved."
AEXE is headquartered in California with an operational office in Manila City in the Philippines. As well as its coal project in Peru, the company also has a 40% interest in a feldspar mine and production plant in the Philippines.
Written by Jonathan Rowland.
Read the article online at: https://www.worldcoal.com/mining/20112014/world-coal-local-villagers-approve-plan-to-mine-coal-in-peru-coal1594/