Newmont buys out Yanacocha partner Buenaventura for $300 million
At the same time, Newmont will transfer its 47% interest in the La Zanja JV with Buenaventura to its partner in exchange for royalties on any future production.
The early stage study outlines a mine life of 10.7 years producing a total of 600.2 million lb. of payable zinc, 230.1 million lb. payable lead, 78.3 million lb. payable copper, 8.1 million oz. payable silver and 38,324 oz. gold at all-in sustaining costs of $0.38 per lb. zinc.
Freeport's iconic open cut mine in Indonesia is going underground – nearly doubling copper and gold production and earning $8 billion per year in the process.