The future of the proposed $5 billion Conga copper and gold project in Peru remains in limbo as its main opponent was recently re-elected governor of the region where the project is situated.
Jailed Gregorio Santos is set to win the re-election in the country’s gold-rich Cajamarca region, casting fresh doubts on the future of the long-delayed copper and gold project.
Operations, however, won’t resume until at least Oct. 7.
Protesters are demanding management to review safety conditions following a fatal accident on Sept. 27.
30,000 tonnes of copper concentrate were sent out Monday.
The announcement marks the end of a long-dragged dispute between the Colorado-based miner and Southeast Asian nation.
Both sides are closer than ever to ending an eight-month tax dispute over exports of the industrial metal's concentrates.
Operations at the miner's Batu Hijau copper and gold mine to resume soon.
Gold assets among favourites.
The Peruvian firm will develop the deposit as an underground mine, instead of as an open-pit project.
Company argues a royalty hike would jeopardize the profitability of Australia's two largest gold mines.
Newmont CEO Gary Goldberg says interested in restarting merger talks that collapsed in April.
The deposit in the south of Guinea boasts 935 million tonnes of 63.5% direct shipping ore.
Gold reserves of 4.2 million ounces at an average grade of 1.22 grams per tonne
Indonesia's top copper miner hopes next month to ramp up production and restart concentrate shipments from Grasberg, one of the world's largest copper mines.
About $500 million of exports a month have been halted in Southeast Asia's biggest economy because of the minerals dispute.
The shipments, the first of their kind in six months, were allowed after Sebuku Iron Lateritic Ores (SILO) and Lumbung Mineral Sentosa agreed to pay the new 20% tax.
Move signifies departure for Vancouver-based miner.
Authorities are is planning to send a letter to the Colorado-based miner saying that it has defaulted on its contract and, therefore, is “negligent."
The Toronto-based firm has shown president and CEO Jamie Sokalsky the door two years into the job, and less than three months after a breakdown in merger talks with its largest rival.
The transaction would be worth over $2 billion.
Newmont, instead, was called to return to the negotiation table or face the consequences.
Sale of Candelaria mine could raise several billion dollars, according to people familiar with the matter quoted by WSJ.com.
Cajamarca region governor Gregorio Santos was ordered to jail for 14 months amid a corruption probe. Supporters claim he is being target of political repression for opposing Newmont's mine.
The parts agreed on basic framework for contract renegotiations for Grasberg mine.
The company is putting about 80% of its Batu Hijau mine employees on leave at reduced pay from Friday.
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