| Date 2/22/2012 |
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Volume 1449650 |
16/2/2012
Malaga To Build New Hydroelectric Plant in Peru
Additional Power Will Continue To Significantly Reduce
Tungsten Production Costs At Pasto Bueno Mine
Construction Permit Expected by End of 2012
... more
| 9/1/2012
Malaga Announces Appointment of Fernando Pajuelo Rincon as General Manager at Its Pasto Bueno Tungsten Mine
MONTREAL, QUEBEC--(Marketwire - Jan. 9, 2012) - Malaga Inc. ("MLG")(TSX:MLG)(OTCQX:MLGAF) announces the appointment of Fernando Pajuelo as General Manager in charge of mining operations at the Company's Pasto Bueno tungsten mine in Peru. Mr. Pajuelo ... more
| 2/12/2011
MALAGA ANNOUNCES APPOINTMENT OF PIERRE MONET AS PRESIDENT AND CHIEF EXECUTIVE OFFICER
Montreal, December 2, 2011 – The Board of Directors of Malaga Inc. (gMLGh) today announced the appointment of Pierre Monet as President and chief executive officer, replacing Jean Martineau who will remain Chairman of the Company and Presiden... more
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The Pasto Bueno tungsten mine in Northern Peru has been in operation since the beginning of the century. Some 6 million tonnes of ore have been extracted from only 5 veins, or the equivalent of 42,000 tonnes of tungsten concentrate grading 75% WO3. The grade and quality of the tungsten extracted from the Pasto Bueno mine is particularly high, as it has a very low level of impurities and no trace of radioactivity and allows for higher sale price.
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100% owned by Malaga Inc.
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Encompasses 690 hectares
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Located in the Andes of Peru at 3,200 to 4,200 meters above sea level
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The Andes are a mineral rich geological area which has world class gold, silver, zinc, tin, and copper mining operations
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The Pasto Bueno tungsten mine is located north of the Peruvian capital, Lima
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Two roads lead to the mine:
- 387 km from Trujillo
- 657 km from Lima
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Majors such as Barrick, Newmont, Rio Tinto, BHP Billiton Xstrata are very active in the Andes
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Tungsten production
Malaga acquired the Pasto Bueno mine with all the mineral and hydroelectrical rights in 2005 and restarted production by 2007. In less than two years of a sub-optimal level of tungsten production it attracted the interest of a major end-user – GTP, a subsidiary of the large European conglomerate Plansee. Following due diligence and visit to the mine, GTP signed a long-term agreement with Malaga for all its forward production from 2009 until 2014. The Company is continuously increasing its production capacity, reaching 500 tpd during Q4 2010. It has substantially augmented its WO3 extraction rate while considerably reducing its production costs.
The Pasto Bueno property still has extensive unknown potential for tungsten mining. Malaga, having completed surface exploration, has been able to identify to date, 78 veins, 25 of which are major structures.
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Pasto Bueno – 2010 Resources
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