The Conga gold/copper mine in Peru — which some area residents feared would hurt local farmers’ water supplies — has now built in a reservoir system that will give the farmers better year-round access to water, Newmont Mining Corp. said this morning. According to the approved environmental impact assessment, upon which Newmont was providing more details,...
Suncor Energy Inc. and Petro-Canada, both major players in oil sands mining and refining, said today they have agreed to merge. The combined company, with about $C63 billion in combined assets, will operate as Suncor, but will maintain the Petro-Canada name is refined products. “This merger creates a made-in-Canada energy leader with the assets,...
Compania de Minas Buenaventura S.A.A., Peru’s largest publicly held precious metals mining company, suffered a loss of $6.1 million in the fourth quarter of 2008, as its interest in the Cerro Verde copper mine (Freeport-McMoRan Copper & Gold Inc.) pulled down its gold earnings. The quarterly loss compared with $120.1 million in net income...
Major companies have been investing billions into mining operations in Peru, but falling base metal prices, along with higher costs, are squeezing that nation’s trade surplus — and future investment. A trade surplus that had hit $8.36 billion in 2007 as prices for copper, zinc, gold and other metals continued toward their peaks dropped...
