Peru gold, copper mine investment is under threat

Peru’s biggest mining investment is under threat, and government social welfare plans with it, as highlands peasants mobilize against a gold-and- copper mine they fear could taint and diminish their water supply.

Opposition to the $4.8 billion Conga project, an extension of the Yanacocha open-pit gold mine that is Latin America’s largest, poses the first major challenge to President Ollanta Humala’s leadership.

He won office in June after promising the very people now mobilizing against Conga, whose 51 percent owner is Greenwood Village-based Newmont Mining Corp., that he would put clean water above mining.

Tags: Peru gold mining

Posted by admin on Nov 26 2011. Filed under Gold mining. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry