Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Dec. 28, 2011) – Petaquilla Minerals Ltd. (TSX:PTQ)(OTCBB:PTQMF)(FRANKFURT:P7Z) (“Petaquilla” or the “Company”) is pleased to announce that the President of the Republic of Panama, Ricardo Martinelli, recently inaugurated the electrical transmission line constructed by the Company’s infrastructure subsidiary, Panama Desarrollo de Infraestructuras, S.A. (“PDI Panama”), through Petaquilla’s community social program. The power line runs from the Company’s Molejon gold mining project to Los Molejones, the community nearest to the project, and brings electrical power to the community for the first time.
On December 22, 2011, President Martinelli thanked the Company for providing Los Molejones with electrical energy. The President stated that, “Now that the school has electricity, they can have computers and all the students can access the internet and become a part of this modern world of science and technology. I am sure this will be of great benefit to the entire community. I congratulate Petaquilla for what they are doing. I urge them to continue to expand, to continue helping the community. I have seen this company develop responsible mining as well as a great social, environmental and labour responsibility program and for this reason I am here today to offer my support to this company which has become the number one exporter of the Republic of Panama.”
Photographs and further information regarding the visit of President Martinelli can be viewed on the website of the Presidency of the Republic of Panama at www.presidencia.gob.pa.
About Petaquilla Minerals Ltd.
Petaquilla is a growing, diversified gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions. The Company operates a surface gold processing plant at its Molejon Gold Project, located in the south central area of its 100% owned 842 square kilometre concession lands in Panama – a region known historically for gold content. In addition, the Company has acquired 100% of the Lomero-Poyatos project located in the northeast part of the Spanish/Portuguese (Iberian) Pyrite Belt and several other exploration licenses in Iberia.
About Panama Desarrollo de Infraestructuras, S.A.
PDI Panama is a construction company based in Panama offering mining services (exploration and resource analysis, digital topography and drilling programs, construction of temporary and permanent camps, blasting, major earthworks and mining construction), civil infrastructure, and general construction services, including the manufacture and sale of construction materials. PDI Panama’s goal is to become a key player in the mining and infrastructure sectors in the Central American and Caribbean regions.
On behalf of the Board of Directors of PETAQUILLA MINERALS LTD.
Rodrigo Esquivel, President
No stock exchange has approved or disapproved the information contained herein.
