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Resettlement Plan
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The town of Morococha located within the boundary of the ultimate open pit at the foot of the mountain where mining activities will be conducted. Currently there are approximately 3,200 residents in the town. We have developed a resettlement plan that meets relevant regulatory requirements. 92% of households present in Morococha have signed agreements to either move to the new town or to receive a cash payment from the CMC.

In the 3rd quarter 2012, we have completed construction of the new town with over 1,000 modern houses and public buildings, including churches, schools, parks and playgrounds. The new town is also supported by infrastructure including water supply, sewage system and electricity supply, which is a significant improvement of the infrastructure in the old town. We intend to substantially complete the resettlement process and relocate all the residents who have signed the resettlement agreement by the first quarter of 2013 and further negotiate with the remaining residents in order to complete the resettlement.

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