EXHIBIT NUMBER 4.48
AMENDMENT TO OPTION AGREEMENT WITH SOCIEDAD MINERA DE
RESPONSABILIDAD LIMITADO NOVA JJ DE PIURA AND
SOCIEDAD MINERA DE RESPONSABILIDAD LIMITADA (SMR LTDA)
DON ALBERTO JJ DE PIURA
DATED DECEMBER 23, 2002
RIO TABACONAS OPTION AGREEMENT AMENDMENT, DECEMBER 23RD, 2002.
- Sociedad Minera de Responsabilidad Limitada Nova JJ de Piura (SMR.LTDA.NOVA JJ), represented by
Jorge Madueno Bustamante;
- Sociedad Minera de Responsabilidad Limitada Don Alberto JJ de Piura (SMR.LTDA.DON ALBERTO JJ),
represented by Jorge Madueno Bustamante;
- Minera IMP-Peru S.A.C., represented by Ing. Miguel Saldana Mujica.
PAYMENTS TO OWNERS:
(*) This payment to be made if at that date the commercial production has been initiated. If this is not the case
this amount will be paid in six annual installments.
Both parties recognize that the attitude against the mining activities of the majority of the authorities and people of
the Tamborapa District, as well as San Ignacio Province, Department of Cajamarca, which was explicitly shown
from June 1st 2002, constitutes by itself a Force Majeur Cause that impedes IMP to carry on with the
exploration and all the necessary and obligatory investments to decide whether to exercise the Option or not.
Furthermore the Parties mutually agree that the above mentioned Force Majeur suspends all the obligatory time
schedules included in the Option contract, with the exception of the schedule of payments to the owners defined
until December 20th, 2004. The option exercise date, as well as the last payment is therefore extended up to
August 20th, 2005 plus the force majeur period (at which date the first installment of US$200,000 will be made if
the commercial production has not been initiated). The force majeur period is not yet determined, it started in
June 1st, 2002 and has not finished yet.
US$ 35,000 August 30th , 2000.
US$ 50,000 April 30th, 2001.
US$ 50,000 April 30th, 20