Peru not the place to apparently be either for Rio or Newmont. I forgot about this big project being shutdown. Gotta love safe jurisdictions projects in the offing like Copper Creek AZ .. This is just another example of issues for Peru like Chile, like Mongolia, like Africa, like etc etc. Newmont's project size makes Rio Alto's shutdown mine in my prior post pale in comparison. Penny dropping for anyone yet to tuck more RDK away? Remember they got listed on a $20 Million Financing @ $0.75 per share onto the TSX Big Board in 2011 and then Cu went ugly but now....figure it out. Hey Frank that copper penny dropped for you yet?
Leading opponent of $5bn Newmont Conga mine in legal trouble
Lead protester against Newmont's (NYSE: NEM) Conga gold project, Gregorio Santos, is being accused of misusing public funds by awarding "contracts to a local businessman in violation of rules on transparent bids."
A Peruvian congressional committee recommended Thursday that the attorney general investigate the conduct of Santos, regional president of Cajamarca. Congress will now vote on whether or not the investigation should commence. Santos denied any wrongdoing Thursday via Twitter, calling the accusation "a fairy tale orchestrated by the government."
Newmont, the world's number two gold producer, claimed in April of this year that it remains committed to resuming its $4.8 billion gold-copper Conga project in Peru, but stressed willingness to reallocate capital to projects in other countries such as Australia, Ghana, Indonesia and the U.S.