Coronet Metals Completes Baseline Study in Peru

April 29, 2012 by metalinvestmentnews · Leave a Comment 

Peru’s Government has assured farmers surrounding the $4.8 billion Conga Gold Mine, that Newmont Mining (NEM-NYSE) is intent on improving its environmental mitigation plan. Peruvian President Ollanta Humala is seeking assurances that highland lakes will not be dried up and that Newmont will provide employment, education, irrigation canals and drinking water infrastructure. “Newmont is evaluating [...]

CORONET METALS ADVANCES YANAMINA PROJECT IN PERU

January 20, 2012 by metalinvestmentnews · Leave a Comment 

Recent headlines from Peru have been dominated by the stalled $4.8 billion Newmont Mining (NEM-NYSE) Conga gold and copper mining project. Protesters backed by the regional governor have expressed fears that the mine will harm their water supplies. Southern Copper (SCCO-NYSE), Anglo American (AAL-L) and Bear Creek Mining (BCM-TSX.V) have also experienced community relations challenges. [...]

IMF GIVES THUMBS UP TO PERUS NEW MINING LAWS

October 7, 2011 by metalinvestmentnews · Leave a Comment 

Peruvian President Ollanta Humala signed three new bills into law, raising mining taxes and royalties. Miners will now pay royalties based on operating profits and “windfall profits”, rather than net sales. The new taxes are expected to raise an additional billion dollars a year for the Peruvian government.  The International Monetary Fund has endorsed the [...]