Friday, May 6, 2011

Worse than being in Peru, Bear Creek Mining (BCM.v) is in a part of Peru where locals don't like mining


The southern reaches of the Puno region is where Bear Creek Mining (BCM.v) wants to start its Santa Ana mine, but things aren't going so well for the company on a community relations level right now. Just last month there was a protest against the mine that paralyzed much of the region and left one protester dead after clashes with the police (she inhaled too much of the tear gas the police fired at the crowd and didn't make it through, sadly) and now the protests are about to start up again. As of next Monday May 9th locals are staging an indefinite strike to demand the total withdrawal of Bear Creek Mining from the Santa Ana project....put simply, they're not wanted round there.

Disclosure: No position in BCM.v, but I do like the stock for its larger Corani project and so one of these fine days I might go long if it gets cheap enough.