President and CEO of Bear Creek, Andrew Swarthout

President and CEO of Bear Creek, Andrew Swarthout

Andrew Swarthout’s Bear Creek Mining (BCM:TSXV) filed its responses to comments received from the Peruvian Ministry of Energy and Mines on its Corani Silver Project.  The comments were received for the Environmental and Social Impact Assessment which was submitted in December 2012.  The company is guiding a Q3/2013 approval of the license which would enable BCM to develop its 270 million ounces of silver and 4.8 billion pounds of combined lead and zinc.  The company anticipates producing 13 million ounces of silver per year at a negative cash cost per ounce due to the lead and zinc byproduct credits it would receive.  The mine will have enough ore, as it currently stands, to produce for over 22 years.

Bear Creek Mining (BCM:TSX)
Bear Creek Mining (BCM:TSXV)

Back in June 2011, the company was blindsided by a ruling (link to the release here) to revoke Bear Creek’s rights to its Santa Ana project which was slated to begin construction and production shortly thereafter.  The company immediately filed an injunction or Amparo, but is still waiting on the outcome of this. The Santa Ana project was intended to be the first of the company’s two assets to go into production and ultimately help fund the development of its larger, Corani project.  Swarthout and the rest of the Bear Creek team appear confident they will receive a positive result from the injunction and ultimately get the rights to their Santa Ana project back which will add another 50 million ounces of silver and 11 years of production back to the company’s pipeline.

Latest News Release here: Bear Creek Announces Official Submission of Responses to Comments on Corani ESIA