Work on Minas Conga mine remains on hold, Newmont-led group says

Peru's Minera Yanacocha, run by Newmont Mining (NEM), says work on the giant Minas Conga copper and gold mine in Peru remains on hold, despite recent reports the stalled project could soon be under way again.

The $5B project has been suspended since late 2011 following widespread and sometimes violent protests in the Cajamarca district in northern Peru; since then, the company has worked on building reservoirs to improve water supplies, the focal point of protesters who said the mine would hurt water quality.

NEM owns a 51.35% stake in Minera Yanacocha, while Compania de Minas Buenaventura (BVN) A has a 43.65% stake.

From other sites
Comments (1)
  • just dan
    , contributor
    Comments (22) | Send Message
    the missing 5% is owned by the IFC , International Financial Corp
    3 Feb 2014, 09:17 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs