Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Newmont Mining Corp    NEM   US6516391066

SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 

Peru Mining Companies' Investments Up 60.6% In Jan To Feb

04/25/2012 | 01:22pm US/Eastern
Recommend:
0

Mining companies in Peru, a major global producer of base and precious metals, increased investments by 60.6% in the first two months of this year to $1.05 billion, the government said.

The Mines and Energy Ministry said in an emailed statement on Wednesday that Minera Yanacocha SRL invested $177.6 million in January and February, which is a 214% increase from the year-ago period.

Yanacocha, which is majority-owned by Newmont Mining Corp. (>> Newmont Mining Corporation), operates South America's biggest gold mine, located in Peru's Cajamarca region. Also in Cajamarca, Yanacocha has the stalled $4.8 billion Minas Conga copper and gold project, the country's biggest private-sector investment project.

The ministry also said that Xstrata PLC (>> Xstrata PLC) invested $140 million in its Las Bambas copper project and $67 million in its Tintaya copper project.

In 2011, mining companies in Peru invested $7.2 billion, up 77% from the prior year.

Peru is the world's second biggest producer of copper and silver and a major producer of gold, zinc, lead and other minerals. Mining companies plan to invest more than $50 billion in new mines and expansion projects this decade, according to the ministry.

-By Ryan Dube, Dow Jones Newswires; 51-945 043 802; peru@dowjones.com

Stocks mentioned in the article : Newmont Mining Corporation, Xstrata PLC
Recommend :
0
React to this article
Latest news on NEWMONT MINING CORP
14h ago NEWMONT MINING : Declares Quarterly Dividend of $0.025 Per Share
15h ago NEWMONT MINING : The House On The Mountain: How Mining Corrodes Democracy In Per..
1d agoDJU.S. HOT STOCKS : Hot Stocks to Watch
1d ago NEWMONT MINING : DE/ Results of Operations and Financial Condition (form 8-K/A)
1d ago NEWMONT MINING : DE/ MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIO..
1d ago NEWMONT MINING : DE/ : Results of Operations and Financial Condition, Financial ..
2d agoDJNewmont Mining Invests up to $1 Billion for Gold Mine
2d agoDJAustralian Gold Miner Regis Expects Fiscal Year Loss Amid Writedowns
2d agoDJNewmont Mining Corp. to Invest up to $1 Billion to Develop Suriname Gold Mine..
2d ago NEWMONT MINING : to Develop New Merian Gold Mine in Suriname
Advertisement
Chart
Duration : Period :
Newmont Mining Corp Technical Analysis Chart | NEM | US6516391066 | 4-Traders
Income Statement Evolution
Newmont Mining Corp : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF