LIMA, Peru – A top company official says the suspension of Peru’s biggest mining project due to protests is costing about $2 million a day.
Newmont Mining Corp. (NYSE:NEM) regional vice-president Carlos Santa Cruz also told international media Thursday that roughly $800 million has now been invested in the Conga gold- and copper-mining project.
Get weekly money news
Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.
By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.
Production at the $4.8 billion project was to have begun by early 2015 but has been stalled since November.
- Central Alberta carbon capture hub on track to be largest in Canada
- Enbridge makes US$2.55B acquisition of pipeline, storage systems in U.S. midwest
- Choose Canada, businesses urge Albertans ahead of ‘risky gamble’ referendum
- Alberta landowners challenge ‘chronic underfunding’ for orphan well cleanup
Protesters backed by the regional governor say they fear the mine will harm their water supplies.
Santa Cruz said U.S.-based Newmont, the mine’s majority owner, is still waiting on Peru’s government to convene a panel of international experts to evaluate Conga’s environmental impact statement.
Comments
Want to discuss? Please read our Commenting Policy first.