PRESS RELEASE

YANACOCHA REAFFIRMS COMMITMENT TO CAJAMARCA AND PERU
The company will take a slower development approach focused on building water reservoirs before the construction of mining facilities. The reservoirs will supply water to downstream users who currently only have water flowing during the rainy season. This confirms the respect the Company has for Cajamarca and its people.
“We ratify our decision to implement the international audit recommendations on the Environmental Impact Assessment (EIA) for the Conga Project and the government’s social proposals in relation to its implementation,” stressed Carlos Santa Cruz, Newmont’s Senior Vice President South American Operations. “We also reaffirm that we are committed to Cajamarca and Peru.” Acknowledging the need to secure and improve people’s water supply, the first thing the Company will build will be the water reservoirs that will benefit surrounding communities that only have water flowing during the rainy season. Carlos Santa Cruz said: “We share President Humala’s appeal for dialogue”, and added that “the construction of water reservoirs will contribute to strengthening our relationship with Cajamarca, while demonstrating that modern and responsible mining can protect the environment and improve quality of life within the area of influence of the Project through economic and infrastructure development.” “Progressing the Conga project will require fostering a suitable social environment, while improving the development cost structure to ensure that the project is economically viable,” stressed Santa Cruz. “Accordingly, construction on the project will continue only if it can be done in a safe, socially and environmentally responsible manner with risk-adjusted returns that justify future investment.” Finally, Santa Cruz highlighted that: “After reviewing the final international audit report, we can see that its main conclusion is that the Conga Project EIA has been correctly performed, complying with the current legislation and conforming to both Peruvian and international standards. The audit also has proved that both the volume and quality of surface and ground water are the ones indicated in the EIA, and that the mitigation measures adopted are appropriate.” Miraflores, June 22, 2012 Communications Office

Sign up to vote on this title
UsefulNot useful