Company News: Rio Alto
Updated: 17 May 2012
Rio Alto Mining Limited (BVL: RIO; TSX-V: RIO; OTCQX: RIOAF; Frankfurt: MS2) is a Canadian based resource company focused on the development of the 21,000 ha La Arena gold / copper project, located in north central Peru, the most prolific gold mining district in the country.
The district is home to a number of world class and medium size gold mines including Barrick Gold's Lagunas Norte Mine, 15 km west of La Arena (2010 production: 808,000 ounces of gold), Newmont's Yanacocha Mine, 100 km to the north (2009 production: 2.1 million ounces of gold), and 10km to the north of the privately owned La Virgen Mine (2010 production: approx 81,000 ounces of gold).
La Arena contains 2.8 million ounces gold and 1.7 billion pounds copper in indicated resources with additional inferred resources of 1.2 million ounces gold and 1.2 billion pounds copper. First gold production at La Arena is targeted for Q2 2011.
Rio Alto is also in the business of acquiring, exploring, and developing gold resources and advanced stage exploration projects in both Peru and Latin America.
The company has assembled a highly experienced team with a proven history of developing, financing, and operating mining projects in Latin America. With a focused strategy towards mine development in the short term and an exploration strategy to discover additional mineral resources, Rio Alto is strongly positioned to generate significant value for its shareholders.
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Peru became the third preferred destination for mine exploration investment in the world in 2011 as it maintained its position as the second-largest producer of silver, copper and zinc Read more... - Peru: holds steady - 15 Apr 2011 11:42am
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Rio Alto Mining Ltd has appointed Victor Gobitz and Sidney Robinson to its board of directors Read more...
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