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Article: Mexico : Zaruma Resources Updates Progress on Luz del Cobre Project.
- Article from:
- TendersInfo
- Article date:
- October 18, 2008
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Byline: Mamta03
Zaruma Resources Inc. (TSX: ZMR) today provided a further update on the progress of the Luz del Cobre copper project in the State of Sonora, Mexico.
The Company stated that it has not yet been able to arrange additional project financing to finish the development and construction of the mine and production plant. Of the estimated US$37 million capital cost of the project, US$22 million has been paid to contractors and suppliers, the full amount provided under the Glencore International AG financing commitment.
Although discussions continue with parties interested in financing the project to production, the outcome of these ...