Newmont, Buenaventura, to start new Peruvian gold mine

Peru has given the green light to Newmont Mining and Buenaventura to begin....

Peru has given the green light to Newmont Mining and Buenaventura to begin operations at the La Zanja gold mine, which will produce more than 100,000 ounces a year, Buenaventura said on Friday.Buenaventura (BVN.N: Quote), Peru’s biggest precious metals producer, owns 53 percent of La Zanja -- located in the northern region of Cajamarca -- while Newmont Mining (NEM.N: Quote) owns the other 47 percent."The company and its partners have worked hard with local communities and Peruvian authorities to develop the project while adding value to Buenaventura’s shareholders", Buenaventura’s chief executive officer, Roque Benavides, said in a press release.Benavides didn’t specify when they will start operations. Peru, a leading metals exporter, is the No.6 gold producer in the world.