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Saturday, 25 May 2013

$4.8 billion Peru gold mine project suspended

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Reported by: AP/UNBconnect
Reported on: November 30, 2011 12:31 PM
Reported in: Business

LIMA, Peru, Nov 30 (AP/UNB) - The owners of a $4.8 billion gold and copper mining project in Peru say it has been suspended following increasingly violent protests by peasants who fear damage to their water supplies.

Newmont Mining Corp. spokesman Omar Jabara tells The Associated Press via email that the suspension was agreed to during discussions with the government. He says the aim is to help restore public order.

Denver-based Newmont is the Conga mine's majority owner. Conga was to begin production in 2015 and is an extension of Yanacocha, Latin America's biggest gold mine.

Political leaders in Peru's northern state of Cajamarca called a general strike against the project last week and violence during protests has been escalating in recent days.

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