Newmont halts work in Peru
CAJAMARCA – According to Newmont Mining Corporation, the Yanacocha gold mine in Peru has shut down operations citing worker safety due to protests in the area.
Protesters have blocked a the Cajamarca road at kilometer 28 which leads to the mining site.
Protesters set a lot of equipment such as bulldozers and other earth-moving vehicles on fire. the equipment belonged to a mining services company, totaling a loss of $2 million.
The mine, co-owned by Buenaventura, decided to cease all operations to ensure the safety of its employees.
Protesters have taken to the streets over compensation payments due to the $4.8 billion expansion plan for the Yanacocha mine.
Local residents of the La Encañada district are pressuring the mining companies to sign a community relations pact pledging $72 million dollars (200 million soles).
The company has been invited by Cajamarca regional government officials to a dialog, which they are of course willing to attend.
Yanacocha produces approximately 1.6% of the world’s gold, and is one of the largest gold mines in Latin America.