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6/10/13

Breaking: Conga suspended

News from Cajamarca Peru is that all work at the Conga project owned by Yanacocha S.A., the JV between Newmont (NEM) and Buenaventura (BVN) has been stopped and "hundreds of workers laid off".  Specifically, work has stopped on the 'Perol' water reservoir, the pre-constuction project that Yanacocha wanted in place to help convince locals that the mega mine project was good for the region. We're about to get a press conference from the Peru Mining Ministry, so update to come on this post.

UPDATE: Peru's Mining and Energy Minister, Jorge Merino, refutes the stories about hundreds of layoffs and says that Conga is going ahead as planned with the reported layoffs being part of personnel rotation at the project, which kind of reminds your humble scribe of the way a certain Norwegian Blue parrot wasn't dead. It was just restin'.