Junior miner ends options at two Peru projects

LIMA, Nov 7 (Reuters) - New Dimension Resources Ltd (NDR.V), a junior metals company with properties in North and South America, has terminated its options on two Peruvian mining projects.

It is the latest sign that miners in Peru, especially small ones, are having trouble bringing their projects into production as financing becomes harder to find and base metals prices drop.

"New Dimension Resources Ltd reports that as part of a strategic property review in Peru, it has elected to terminate its option on the Odilin property as well as a small portion of its Cori Puncho property held under option from Minera del Suroeste," the company said in a statement released late on Thursday.

It said it retains 100 percent ownership in "key portions" of the Cori Puncho project, a gold property in southern Peru.

New Dimension had previously said it would seek a joint venture partner to develop the Odilin project, an 800-hectare mining concession in northern Peru.

Elsewhere, the company controls the Cenepa project, near Peru's northern border with Ecuador, and it said a technical review is continuing on its Puma Dorado project, a gold and copper property in southwestern Peru.

The Vancouver, British Columbia-based company also has projects in Canada and the United States. (Reporting by Dana Ford; editing by Jim Marshall)