Miner may reallocate capital to development alternatives in Australia, Ghana, Indonesia and Nevada.
Group claims project continues to advance despite being officially deemed as “suspended.”
Newmont's subsidiary Yanacocha said it is evaluating new projects in the region.
The gold-copper project, set to begin production in early 2015, continues to be on hold because of social pressure.
More than half of the total reports submitted in early 2012 are still under evaluation.
Peru's Minister of Energy and Mines Jorge Merino announced the country is expected to attract mining investment projects worth $10 billion in 2013.
Peru's government is considering resuming talks with opponents of the $4.8 billion Minas Conga copper and gold mining project in the northern region of Cajamarca, Environment Minister, Manuel Pulgar Vidal, said in a TV interview on Sunday night.
Instead of the lauded $6 billion in mining invested forecasted for 2013 earlier this year, SNMPE says the country’s sector will attract about $4 billion.
The Peruvian government confirmed it will end Monday a state of emergency imposed in early July in the country’s northern region, where violent protests against Newmont Mining's (NYSE:NEM) controversial $4.8 billion Conga project left five dead and dozens injured.
Newmont Mining's (NYSE:NEM) $4.8 billion copper-gold project in Cajamarca Peru remains as one of the company’s priorities, but further development will be done on a very measured basis, told MINING.com the company’s head of communications, Omar Jabara.
The Peruvian government has thrown in the towel on Newmont Mining's (NYSE:NEM) controversial Conga mine as the nation's prime minister announced Monday evening the $4.8 billion copper-gold project is now on the back burner.
Peru's Catholic Church intervened in reconciliation talks between the government of President Ollanta Humala and activists protesting the $5 billion Conga copper and gold mine project.
Negotiations among Peruvian authorities, Newmont Mining and the local communities with the intent to end the seven-month conflict over the $5 billion Conga project in the northern region of Cajamarca, are leaving out one key piece: the workers.
Candente Copper will be allowed to resume its exploration and feasibility drilling at its Canariaco project in Peru, after the local community of San Juan De Kañaris voted in favour of granting surface access to the company on Sunday.
Peruvian police detained former Roman Catholic priest Marco Arana, the leader of the protests against Newmont Mining, yesterday evening. The situation has only worsened since the government declared a state of emergency.
At least three people were killed and 20 injured in northern Peru yesterday after a clash between police and protesters opposed to the $5 billion Conga gold mine planned by Newmont Mining in the northern region of Cajamarca.
Peru's Congress in a terse statement last night announced charges of “an incitement to the crime of rebellion” against Gregorio Santos, the province of Cajamarca’s Maoist governor who has lead violent protests against Newmont Mining's stalled Conga project.
Newmont Mining could reallocate project funds if an ongoing evaluation of the environmental impact study for its $4.8 billion Conga mine turns economically unfavourable, CEO Richard O'Brien said.
Newmont Mining Corp. (NYSE and TSX: NEM) reported a 9% increase in first-quarter profit to $561 million, or $1.13 a share, despite the ongoing troubles with its hindered $4.8 billion copper-gold project in Peru, the Conga mine.
The team of three international environmental consultants hired by Peru’s government has recommended significant changes to Newmont’s hindered $4.8 billion copper-gold project, the Conga mine. But the government is saying its final decision won’t be determined solely by this or any study.
The long-awaited and twice-postponed report from international experts on the environmental impact study (EIS) for Newmont and Buenaventura’s US$4.8 billion copper-gold project, the Conga mine, is finally in the Peruvian government’s hands.
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