Newmont Releases Official Response to Independent Report on Land Dispute in Peru
DENVER, October 18, 2016 – Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company) today released the Company’s official response to the independent report examining the ongoing land dispute in Peru between members of the Chaupe family and Yanacocha. The document may be accessed at this link, along with the Spanish translation at this link.
On 28 September 2016, RESOLVE – an independent nonprofit organization dedicated to multi-stakeholder consensus building – publicly disclosed its final report objectively examining the land dispute following an 18-month process by the Yanacocha Independent Fact Finding Mission (YIFFM). Newmont’s statement immediately following release of the YIFFM’s report may be found at this link.
Newmont is a leading gold and copper producer. The Company’s operations are primarily in the United States, Australia, Ghana, Peru, Indonesia and Suriname. Newmont is the only gold producer listed in the S&P 500 Index and was named the mining industry leader by the Dow Jones Sustainability World Index in 2015 and 2016. The Company is an industry leader in value creation, supported by its leading technical, environmental, social and safety performance. Newmont was founded in 1921 and has been publicly traded since 1925.
Yanacocha is South America's largest gold mine, located in the province and department of Cajamarca, approximately 800 kilometers northeast of Lima, Peru. The operation is a joint venture between Newmont Mining Corporation (51.35%), Minas Buenaventura (43.65%) and the International Finance Corporation (5%). Yanacocha has been in production since 1993, directly and indirectly supporting thousands of well-paying jobs and contributing nearly US$3 billion in taxes and royalties. In addition, the company has invested more than US$640 million in social development including infrastructure for local communities, water facilities, education, health care, agricultural support, and local small business development and training.