Petaquilla Minerals Ltd. is a gold producer that operates its wholly owned Molejon gold mine in Panama.
The Molejon mine commenced commercial production in January 2010 and currently operates at a rate of approximately 3,500 tonnes per day. Petaquilla’s 842 sq. km. concession area is located in the Donoso District, Colon Province of Panama, 130 km. west of the Panama Canal. The Molejon mine is adjacent to the $6.2 billion Capex world-class Cobre Panama copper project of First Quantum Minerals (FQM).
Petaquilla also owns exploration and development stage projects in Spain and Portugal. The Lomero-Poyatos Project is located near Huelva in the Andalusia region of Spain in the prolific Iberian Pyrite Belt, which extends from Southwestern Spain into Portugal. Lomero-Poyatos is fully permitted, with bulk volume testing expected to begin in FY 2014. The company’s Portuguese gold projects, Banjas and Jales-Gralheira, are formerly producing mines located near the Oporto region.
Panama Development of Infrastructures, S.A. (PDI) is the wholly owned infrastructure, mining services and construction subsidiary of Petaquilla Minerals. PDI is well positioned in Panama’s infrastructure and emerging mining services sector, particularly the Cobre Panama copper and Panamanian civil projects. The company plans to spin out PDI to PTQ shareholders with plans to go public 12 months after the spin out.