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Hot Rock to be granted geothermal leases in Peru

Miraflores, province of Arequipa, Peru (source: flickr/ zug55, creative commons)
Alexander Richter 23 Feb 2011

Australian developer Hot Rock reports it is to be one of the first companies to be granted geothermal leases in Peru, with Rupha the first of eight leases applications to be granted.

News from Australia report that Australian geothermal development company “Hot Rock (ASX: HRL) is one of the first companies to be granted geothermal tenements in Peru, which follows on from the Government’s recent granting of the Rupha tenement, located in the Ancash region to the north of Lima.

This is not the first move by Hot Rock into South America, with the company having already developed a geothermal exploration portfolio in Chile.

Rupha is the first of Hot Rock’s eight tenement applications to be granted, with a further six applications in the final stages of processing, which the company expects to be granted within the current quarter.

Mark Elliott, executive chairman, said “Our early entry into Peru extends the same strategy that we followed in Chile – early identification of high quality geothermal projects through strong in-house geothermal exploration skills and knowledge, capitalising on our first mover advantage ahead of considerable subsequent interest by both large domestic and international companies.”

Rupha is a well-known thermal area in Peru and considerable use is made of hot geothermal waters discharging at surface for bathing.

There are four major groups of geothermal spring discharging over the greater prospect area, with the most impressive being mixed chloride-sulphate-bicarbonate springs in the Pacatqui and Aquilina areas, issuing at 89 degrees celsius and 66 degrees celsius respectively.”

Source: ProActive Investors