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Marcona Copper Project
Background
The Marcona Copper Project is owned by Marcobre S.A.C. (“Marcobre”), a corporation existing under the laws of Peru. Chariot Resources Limited (the Corporation) indirectly owns 70% of the outstanding shares of Marcobre and Korea Resources Corporation and LS-Nikko Copper Inc. (together, the “Korean Partners”) indirectly own 30% of the outstanding shares of Marcobre. The Corporation and its Korean Partners have entered into a shareholders agreement with respect to the corporate governance of Marcobre and the ownership, development and operation of the Marcona Copper Project.
Description, Location and Certain Additional Information
The Marcona Copper Project is located within Nazca Province, Ica Department in the southern coastal plain area of Peru approximately 20 to 30 kilometres from the Pacific Ocean and approximately 400 kilometres southeast of Lima. The centre of the Marcona Copper Project lies approximately 25 kilometres north of the coastal town of San Juan de Marcona. The town of Nazca on the Pan American highway is located approximately 35 kilometres to the north-northeast of the Marcona Copper Project. Elevations range from 500 metres above sea level to nearly 1,200 metres above sea level and the geographic co-ordinates of the centre of the Marcona Copper Project are approximately 15°08’S and 75°04’W.
The Marcona Copper Project covers 32,889 hectares on which there are located five prospects (the “Prospects”): the Mina Justa Prospect, the Achupallas Prospect, the Miramar Prospect, the Clavelinas Prospect and the La Apreciada Prospect. The Mina Justa Prospect is currently the principal development project.
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Location and infrastructure of the Marcona Copper Project
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