Iberian Minerals Corp. (Iberian) is a global base metals company with mining interests in Peru and Spain. The Company is engaged in mining and development of base metal deposits. The Condestable Mine, owned by the Company�s subsidiary, Compania Minera Condestable S.A. is located approximately 90 kilometers south of Lima, Peru and operates at 2.5 million tons per year (7,000 tons per day) of ore processed, producing copper concentrates that also contain gold and silver. The Aguas Tenidas Mine, owned by its subsidiary, Minas de Aguas Tenidas S.A. in the Andalucia region of Spain approximately 110 kilometers north-west of Seville, operates a 2.2 million tons per year (6,000 tons per annum) underground mine and concentrator that produces copper, zinc and lead concentrates that also contain silver. As of December 31, 2011, Iberian held 98.7% interest in Compania Minera Condestable S.A. On February 23, 2012, Trafigura Beheer B.V. indirectly held approximately 96.7% interest of the Company.