Newmont sees Peru Conga gold mine opening by 2015
LIMA, May 18 (Reuters) – Newmont <NEM.N> expects to open
its Conga gold mine in Peru in late 2014 or late 2015, the
company’s Executive Vice President Guy Lansdown said on Tuesday
at an industry conference.
To bring the project into production, Newmont and its
partner, Peru’s precious metals miner Buenaventura <BUEv.LM>
<BVN.N>, would need between $2.5 billion and $3.5 billion in
investments, Lansdown said.
Peru central bank sees 6-7 percent growth
LIMA (Reuters) – Peru’s economy will grow between 6.0 and 7.0 percent this year and the IMF believes it will be the top performer in Latin America as domestic demand and exports surge, the head of the central bank said on Wednesday.
Julio Velarde, who spoke at the Reuters Latin American Investment Summit in Lima, said that given the good health of the economy, the central bank is likely to tighten monetary policy this year.
Peru’s top bank sees boom in mortgage market
LIMA, May 4 (Reuters) – Peru’s mortgage market should grow more than 20 percent this year and the benchmark interest rate could more than double by the end of the year from 1.25 percent, the chief executive of the Banco de Credito <CRE.LM> said.
Walter Bayly, at the Reuters Latin American Investment Summit in Lima, said Peru’s central bank is likely to tighten monetary policy in the short term and raise deposit requirements in the next 90 days.
Bolivia nationalizes four power companies
LA PAZ (Reuters) – Leftist Bolivian President Evo Morales said on Saturday he had nationalized four power companies, including a subsidiary of France’s GDF Suez, in his drive to tighten state control over the impoverished economy.
Morales, a close ally of Venezuela’s Hugo Chavez, nationalized Bolivia’s key natural gas industry soon after first taking office in 2006 and has since taken control of several utility companies as well as the Andean nation’s biggest smelter and top telecommunications firm.
Grass-roots warming summit calls for greenhouse cuts
TIQUIPAYA, Bolivia (Reuters) – Big polluting countries must aggressively cut greenhouse gases and listen to ideas from small nations to reverse global warming, activists and left-wing leaders concluded on Thursday at a meeting billed as an alternative to the failed Copenhagen summit.
The gathering in Bolivia’s Cochabamba region was meant to give voice to countries and environmental groups that said they were excluded from an active role at the Copenhagen summit in December, when world leaders negotiated behind closed doors.
Bolivia global warming summit: a lifeline for “Mother Earth”?
Changing the world is no doubt a daunting task but that’s what leftist Bolivian president Evo Morales and thousands of environmental activists, representatives of grassroots groups, and the envoys of some 90 governments are striving to do this week in the small village of Tiquipaya, in central Bolivia.
The World People’s Conference on Climate Change and the Rights of Mother Earth started on Monday with a speech by Morales that was radical because it called for a new economic system, but was also peppered with some other surprises.
Morales, an Aymara Indian who herded llamas as a boy and never finished secondary school, said that eating chicken fed with hormones causes “sexual deviation” in men and that European men lose their hair because they eat GM food.
Protest against Sumitomo Bolivia mine worsening
LA PAZ, April 16 (Reuters) – Bolivian peasants on Friday
stepped up their protest against the San Cristobal mine owned
by Japan’s Sumitomo Corp <8053.T>, overturning containers full
of mineral ore and saying they would keep blocking a key
railway line until their demands are met.
Protesters on Monday began the blockade of the rail line,
which allows the huge San Cristobal silver-lead-zinc mine to
export ore to foreign markets via neighboring Chile.
CRU/CESCO-Copper miners wary of looming cost run-ups
SANTIAGO, April 9 (Reuters) – The world’s top copper miners were
ebullient this year as the price of the bellwether metal has soared in
recent months, but many fear that the rising cost of energy, personnel and
equipment could begin to eat into profits, as new projects are brought
online.
The price of the metal used in construction and power hit $8,010 a
tonne earlier this week in London, its highest since August 2008 and less
than a $1,000 shy of its all-time high of $8,940 struck in July 2008.
Copper miners wary of looming cost run-ups
SANTIAGO, April 8 (Reuters) – The world’s top copper miners
are ebullient this year as the price of the bellwether metal
has soared in recent months, but many fear that the rising cost
of energy, personnel and equipment could begin to eat into
profits, as new projects are brought online.
The price of the metal used in construction and power hit
$8,010 a tonne earlier this week, its highest since August 2008
and less than a $1,000 shy of its all-time high of $8,940
struck in July 2008.
CRU/CESCO-Equinox upbeat on Zambia mine, eyes Uranium plant
SANTIAGO, April 8 (Reuters) – Equinox Minerals Ltd plans to
expand its Lumwana copper mine in Zambia and is in talks with
possible partners that will allow it to build a $200 million
uranium plant on the site, the company’s CEO Craig Williams
told Reuters on Thursday.
Australian miner, Equinox <EQN.TO> < EQN.AX>, is currently
ramping up output at Lumwana, one of the largest open pit
copper mines in Africa.
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