President Pedro Pablo Kuczynski proposed dredging a reservoir in a dry northern region of Peru to extract what he described as "much more gold" than what the country's biggest gold mine holds, according to an interview with a local newspaper.
Kuczynski said Poechos, Peru's biggest reservoir and a key source of water for drinking and farming in the northern Piura region, could hold one gram of gold per cubic meter in 580 million cubic meters of sediment.
"It has to be dredged," Kucyznski said in a videotaped interview with financial daily Gestion. ...
Kuczynski said the sediment could be removed from Poechos for five or six years to extract its gold before letting it accumulate again for 20 years, a repeatable process that he said would make it "the only mine in the world that's renewable."
Kuczynski, a former investment banker who once managed a mine in West Africa for Alcoa Corp, said the same model could be used in another reservoir in Peru, Olmos, which Brookfield Infrastructure Partners LP recently bought from Brazilian builder Odebrecht. ...
... For the remainder of the report:
http://www.reuters.com/article/us-peru-econom...h-idUSKBN14F142
