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
3d agoDJIndonesia Says Newmont Could Resume Exporting in September
3d agoDJIndonesia Says Newmont Could Resume Exporting in September
4d ago PREMIER GOLD MINES : Continues to Define High Grade Mineralization at Cove
6d agoDJNewmont Unit To Withdraw Arbitration Against Indonesia
08/23 Insight - Behind Indonesia mining deal, newly minted minister and U.S. mining..
08/23 Behind Indonesia mining deal, newly minted minister and U.S. mining legend
08/22 NEWMONT MINING : Risk mitigation for openpit mining in areas with old undergroun..
08/22 NEWMONT MINING : breaks off talks with Barrick; Merger of gold mining giants cou..
08/22 NEWMONT MINING : declares force majeure; Company says Indonesia's export tax lef..
08/22 NEWMONT MINING : Colorado Section golf tournament raises scholarship funds
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