Peru's president says mining project viable

AP News
Posted: Apr 21, 2012 12:58 AM
Peru's president says mining project viable

Peru's president says the country's biggest mining project, which has been on hold due to protests, is viable and will meet environmental requirements.

President Ollanta Humala said on Friday that residents near the Conga gold- and copper-mining project would be ensured an ample water supply.

Protesters backed by the regional governor say they fear the mine will harm their water supplies.

The mine is majority owned by U.S.-based Newmont Mining Corp.

Humala asked that the mine not use two of four lakes that were originally going to be destroyed as part of the mining operation. That was a recommendation made by experts.

He says the project should provide more water to local reservoirs and that his government will invest about $1.8 billion in infrastructure in the northern region of Cajamarca.