Tuesday, May 13, 2014
Title: Bear Creek Announces Favorable Judicial Decision in the Santa Ana Amparo (Consitutional Injunction), Peru
Vancouver, B.C. - Bear Creek Mining (TSX Venture: BCM) ("Bear Creek" or the "Company") is pleased to announce that the Lima First Constitutional Court rendered its ruling regarding the action brought by the Company against the Peruvian government on July 13, 2011, challenging the constitutionality of the Supreme Decree N° 032-2011-EM, which rescinded the Company's rights to operate on its Santa Ana mineral concessions. The decision states unequivocally and unconditionally that:
Bear Creek's constitutional rights were violated;
The Company's rights are unconditionally returned as stipulated under Supreme Decree N° 083-2007-EM, which originally granted the right to Bear Creek, as a foreign company, to operate the Santa Ana concessions, located within the 50 kilometer border zone of Peru;
Bear Creek is recognized as title holder of the Santa Ana's mining concessions and therefore, is enabled to perform all the rights arising from said titles; and
The Court reaffirms that the Santa Ana project is in National interest.
This appears to be great news if it holds up. According to the news release, it is official. But I'm not convinced it can't be reversed by a government decree of some type. For Bear Creek shareholders, this could be incredibly lucrative in the long term.
Follow us on: