La Paz, Oct 10. -South Korean company Kores confirmed the finding of a huge reservoir of about 100 million tonnes of copper in the town of Corocoro, La Paz departament, reported Monday the state newspaper Cambio.These new reserves are the result of exploratory studies that began in October 2009 and concluded recently, according to Young Hwan Moon, who is the president of Corocobre, which is a subsidiary of Kores and operator of the JV project.
The copper deposit is located 110 kilometers southeast of the city of La Paz.
The property covers 51 mining concessions in an area of 27.2 squares kilometers.
This is the first time that a systematic exploration at the site of Corocoro is performed under social and environmental licenses, Hwan Moon said.
Studies of the site are expected to end on December, 2012, and it is possible, the building of mining facilities and metallurgic plants to produce high-purity copper will begin on 2013.(Prensa Latina)