Peru's Humala says water guaranteed near Newmont mine

Ollanta Humala 

LIMA - Peruvian president Ollanta Humala said on Saturday Newmont Mining would ensure ample water for towns near its proposed Conga gold mine, and that his government would not allow new mines to open if they hurt water supplies.

US-based Newmont on Friday accepted a stricter environmental mitigation plan for its mine, which will now require total investments of $5-billion, making it the most expensive mine in Peruvian history.

Newmont said that before the mine is built it will first build larger reservoirs that will guarantee year-round water supplies in towns currently suffering shortages. The bigger reservoirs are expected to add up to $200-million to the project's original $4.8-billion price tag and take up to two years to build. Read more here...