Peru allows Bear Creek to recover Corani tax

TSX-V-listed project developer Bear Creek Mining has signed an agreement with the Peru Ministry of Energy and Mines (MEM) and ProInversion (an agent for the Peru government) that allows the company to recover, at its option and on an accelerated basis, the 18% taxes applied to engineering and construction costs incurred during the future development of the proposed Corani silver/lead/zinc mine. The agreement provides that Bear Creek can recover certain taxes associated with the initial capital expenditures (capex) to develop Corani and covers a three-year development period, during which detailed engineering, permitting, construction, commissioning and project ramp-up is expected to take place.