Reuters: Regulatory News: Peru says Newmont has 'willingness' to better Conga

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Peru says Newmont has 'willingness' to better Conga Apr 23rd 2012, 15:57 LIMA, April 23 | Mon Apr 23, 2012 11:57am EDT LIMA, April 23 (Reuters) - U.S.-based Newmont Mining has shown its "willingness" to improve the environmental mitigation plan for the company's proposed gold mine known as Conga, Peru's government said on Monday. Mines and Energy Minister Jorge Merino said he would meet Newmont officials to define how the mitigation plan would be altered after a team of independent environmental auditors recommended a series of changes that could increase the cost of the controversial project, now estimated at $4.8 billion. "We are going to sit down with them. They've said they are evaluating the proposed measures recommended by the auditors, but I think there's a good willingness on their part," Merino said on RPP radio. Over the weekend, Carlos Santa Cruz, Newmont's chief for South America, said the company would carry out "technical and economic evaluations" of the auditors' recommendations, which called for the miner to preserve two of four alpine lakes that would be displaced by the mine and replaced with reservoirs. President Ollanta Humala on Friday urged community activists to stop protesting against the stalled mine's construction and said the government would make sure the company adheres to strict social, environmental and labor goals. His comments to end a months-long impasse came two days after the auditors encouraged the company to build larger reservoirs to guarantee more water supplies. Newmont's plans fueled protests in the northern Cajamarca region late last year as some townspeople feared the most expensive mine ever attempted in Peru would leave local farmers without sufficient water supplies and cause pollution. The mine's construction has been halted since November. Link this Share this Digg this Email Reprints

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