Peru mining protests risk clogging $53 bln investment pipeline, industry warns [Financial Post (Toronto, Ontario, Canada)]
Newmont Corporation (NEM)
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Source: Financial Post
Advertisement Social conflicts have risen in the Andean nation over the past year since socialist President Pedro Castillo came into office, with a spate of protests against mines, including one that has halted production at the huge Las Bambas copper deposit. With global prices soaring on high demand, that now threatens a mining investment pipeline of some $53 billion and could stall future projects expected by investment bank RBC to make up 12% of the world’s copper supply in years to come. “Without any world-class projects on the horizon, the prospects for sustaining production are not good,” said Gonzalo Tamayo, analyst at Macroconsult and a former Peruvian mines and energy minister. Mining executives and analyst met last week in Peru’s capital Lima, where the main concern was falling investment tied to rising social protests. A central bank report shows investment dipping some 1% this year and 15% in 2023. The conflicts, mainly in poor Andean areas where communities feel byp
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NEM
Earnings
- 2/22/24 - In-Line
NEM
Sec Filings
- 4/12/24 - Form DEFA14A
- 4/5/24 - Form DEFA14A
- 3/19/24 - Form 3
- NEM's page on the SEC website