DENVER, Dec. 8, 2011 /PRNewswire/ -- Newmont Mining Corporation (NYSE: NEM) today provided additional details on the Conga project's Environmental Impact Assessment (EIA), which was approved in October 2010. Conga's EIA was reviewed by 12 agencies before being approved by the Ministry of Energy and Mines in Peru. The public engagement process leading up to the approval included approximately 13,000 people from the neighboring communities, the Cajamarca region and elsewhere.
"Conga's EIA followed the process laid out by the government of Peru in what was one of the most thoroughly studied mining projects in the country," said Richard O'Brien, Newmont's President and Chief Executive Officer. "The environmental and social impact analyses were based upon comprehensive studies that spanned up to 13 years and were conducted by internationally recognized and respected firms. The public engagement process was transparent and open to anyone who wanted to provide input or raise concerns during a three-year period."
Key facts outlined in a fact sheet on Conga's water protection plan include:
- Four water storage reservoirs will replace four lakes impacted on the Conga property;
- These reservoirs have the capacity to store more than twice the water currently in the lakes; and,
- Water from the reservoirs will be available to downstream users on a year-round basis.
The proposal to replace four lakes on the Conga property with the water storage reservoirs addresses the needs of farmers, who currently face an unreliable water supply during the dry season, by providing a reliable, year-round supply of water. Conga's environmental management plan includes the protection of water quality during project construction and operation.About Newmont Founded in 1921 and publicly traded since 1925, Newmont ( www.newmont.com) is one of the largest gold companies in the world. Headquartered in Colorado, the Company has more than 35,000 employees and contractors, with the majority working at core operations in the United States, Australia, Peru, Indonesia and Ghana. Newmont is the only gold company listed in the S&P 500 index and in 2007 became the first gold company selected to be part of the Dow Jones Sustainability World Index. Newmont's industry leading performance is reflected through high standards in environmental management, health and safety for its employees and creating value and opportunity for host communities and shareholders. SOURCE Newmont Mining Corporation
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts