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Thursday, 28th September 2006 (2115 views)

Most of the anti-mining protests at the Yanacocha gold and copper project in Peru have been resolved by operator Buenaventura, Reuters reports.

Yanacocha is one of the biggest mines in the world and has produced more than $7 billion worth of gold in its lifetime. However, the project has been marred by claims of water contamination and demands for more social spending in the area near the mine.

Roadblocks by protestors had forced production at the mine to stop and Buenaventura share prices fell as a result.

But speaking at the Denver Gold Forum, Buenaventura chief executive Roque Benavides said that the future was brighter now.

"It is very important to note that the outcome of the confrontations has been very positive," he said, explaining that a local bishop had helped to quell protests by Catholic priests. "He published a letter saying priests should not get involved in commercial and political issues."

Benavides added that the local community has now accepted that Yanacocha is not responsible for water deterioration in the area.

Yanacocha is majority owned by Newmont, the largest gold producer in the world.

 

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