Newmont Mining Corp. is reevaluating the cost of its delayed Conga gold and copper project in Peru, the company's senior vice president in South America said on Wednesday.
The project, launched with an announced investment of $4.8-billion last year, has been stalled since November due to opposition from the northern Cajamarca region, costing the company millions.
"Obviously the paralyzation is having an impact... in the first few days we said it was around $2 million per day but we have reduced activity to control costs," said Carlos Santa Cruz, Newmont's top executive in Peru and regional vice president. Newmont Mining Corp. is reevaluating the cost of its delayed Conga gold and copper project in Peru, the company's senior vice president in South America said on Wednesday. Read more here
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