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Latest News in Peru / Archive
Mining/Energy | 23 October, 2009 [ 10:45 ]
US Newmont was granted mining rights for lot near Peru - Ecuador frontier
LivinginPeru.com
Isabel Guerra
According to a press release, Peru's government granted mining rights to Newmont Mining in a lot near the frontier with Ecuador.
Newmont, a US based company, was granted with this lot “due to public necessity," reportedly with the aim of promoting development in frontier areas.
However, Peruvian laws explicitly ban foreign companies from acquiring mining rights near national borders.
Newmont's 20 lots span an area of some 18,962 hectares.
The company has not made any official comment on this yet.
Newmont already controls the Yanacocha gold pit (in Northern Peru), one of Latin America's largest mines.
Have other topics you'd like to see in our news section? If you or someone you know would like to contribute a news article to Living in Peru, whether it's translated or based on a personal investigation, send it to editor@livinginperu.com.
Isabel Guerra
According to a press release, Peru's government granted mining rights to Newmont Mining in a lot near the frontier with Ecuador. Newmont, a US based company, was granted with this lot “due to public necessity," reportedly with the aim of promoting development in frontier areas.
However, Peruvian laws explicitly ban foreign companies from acquiring mining rights near national borders.
Newmont's 20 lots span an area of some 18,962 hectares.
The company has not made any official comment on this yet.
Newmont already controls the Yanacocha gold pit (in Northern Peru), one of Latin America's largest mines.
Have other topics you'd like to see in our news section? If you or someone you know would like to contribute a news article to Living in Peru, whether it's translated or based on a personal investigation, send it to editor@livinginperu.com.
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