Newmont rides out Yanacocha protest as Peru government steps in
Newmont Mining announced on Wednesday protesters are now allowing access to the Yanacocha gold mine in northern Peru. A local paper reported protesters decided to remove roadblocks following an agreement with the mines ministry and regional authorities.
Newmont on Monday was forced to shut down operations at Yanacocha, South America's largest gold mines with annual output of 1.5 million ounces. Newmont and local partner Buenaventura are also advancing a $4.8 billion project to expand the mine which would be the largest investment ever in Peru.