CNW Group10 months ago
TORONTO , Aug. 20, 2018 /CNW/ - Cautivo Mining Inc. (CAI.CN) ("Cautivo" or the "Corporation") is pleased to announce that its Peruvian subsidiary, Sociedad Minera San Miguelito S.A.C. ("San Miguelito"), has received the Supreme Decree by which it is permitted to acquire and develop 11 of the 32 existing or pending mining concessions that were held either directly by Minera Ate S.A.C. ("Minera Ate") or a third party with which Minera Ate holds an outstanding mining option contract. Under Article 71 of the Peruvian Constitution, foreign individuals (including Peruvian-domiciled companies owned ultimately by overseas investors) must obtain permission from the President of the Republic and the Council of Ministers, in the form of a Supreme Decree, to hold any type of concession over property located within 50 kilometers of any of Peru's national borders.