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Article

30 Nov 2011

Author:
Associated Press

$4.8 billion Peru gold mine project suspended

A $4.8 billion gold and copper mining project [proyecto Conga], Peru's biggest such investment, was declared suspended Tuesday after increasingly violent protests by highlands peasants who fear for their water supply..."After discussions with the government, it was agreed that to help restore public order, the project would be suspended," Newmont Mining Corp. spokesman Omar Jabara told The Associated Press via email. Denver-based Newmont is the majority owner of Conga, which was to begin production in 2015 and is an outgrowth of Yanacocha, Latin America's biggest gold mine.