Loading ...Newmont Mining Corp’s (NYSE:NEM), the world’s 2nd largest gold miner, is walking way from its $5 billion Conga copper and gold project in Peru after year of relentless community opposition.
In its annual filing with the U.S. Securities and Exchange Commission (SEC), the Colorado-based miner said that due to current social and political conditions, the company “did not anticipate being able to develop Conga for the foreseeable future.”
Locals welcomed the news, which granted Peruvian farmer Máxima Acuña de Chaupe the Goldman Environmental Prize.
Acuña, who has been at the forefront of the opposition against the Conga project since it was first proposed in 2010, said in a statement she only has one more wish. “I want to return to the peaceful life I had on my land with my family for almost 20 years.”
Newmont decided to halt construction work at the project in November 2011, after violent protests led by governor Gregorio Santos forced the country’s government to declare a state of emergency.
cont. http://www.mining.com/community-opposition-forces-newmont-abandon-conga-project-peru/