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Conga is the owner of Minera Yanacocha, whose ownership is shared by Newmont Mining, Minas Buenaventura and the ICF World Bank. Located in Cajamarca, Conga will involve an investment of U.S. $ 6 million a day, those who are spending from August this year. · The project will represent a total investment of U.S. $ 4 800 million

The Conga project operator is Minera Yanacocha, which is investing $ 6 million a day from the first of August this year, the regional president of business Yanacocha, Thomas Savage.

Savage felt that the project could get underway by the second half of 2014.Conga involve a production of 330 metric tons of copper concentrate with gold, in a 50-50 split.

As in Yanacocha, the Conga project located 72 kilometers from Cajamarca, Peru, Newmont Mining participate Buenaventura. Savage said that at this time Conga is the flagship project of both companies.

Savage also noted that the project itself involves the development of two open pits and a concentrator plant sufuros of 92 thousand tons per day.

“It’s a massive project, big enough that is already under implementation. The Conga project is our project is the main star and focus of the Yanacocha mine, “he said.

The executive of Newmont said that so far have already been mobilized to 3 thousand people for the first phase of the project and ensures that early next year will employ 8 000 people for its construction phase.

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According to information provided by the Secretary of Mining and Metallurgy of the Interior, Walter Morochi, mining royalties generated Oruro, exceeded 96 million Bolivian until September 2010.

A date is that the National Tax Service (SIN) confirm the figure of the last three months of management 2010 to reach 120 million Bolivians, a management principle, it was planned to achieve.

“We are estimating to reach 120 million of Bolivians, with mining as a whole, always with the mining state, private and co-operativised, we are providing this amount of money so we can go to projects that require our provinces,” said Morochi.

According to the planning and investment of these resources, the total mining royalties is divided by 85 percent for governor and 15 percent directly to municipalities by national taxes.

These benefits are based on the percentage produced within 15 per cent for producing municipalities of the Department, as Oruro, Dalence, Abaroa and all the municipalities that are involved in mineral production.

The remaining 85 percent still fell by 10 percent purely for prospecting and exploration, by the Ministry of Mining and Metallurgy of the Interior.

“Mining brings benefits to the department, as secretaries of our government, we have the commitment and obligation to work in the production area,” said Morochi. Read the rest of this entry »