Big gold reserves aren't much good to you if they get...

Big gold reserves aren't much good to you if they get nationalised without compensation........

'INVESTOR'S NIGHTMARE'


Newmont (NYSE: NEM) is nervous about what is going to happen after Peru's presidential elections on June 4 between nationalist Ollanta Humala and center-left former president Alan García, Lassonde told reporters after his speech.


"Looking at what is happening in Bolivia, Ecuador and Venezuela, I think one has to feel nervous," he said in reference to leftist governments in Bolivia and Venezuela and instability in Ecuador.


"It's every foreign investor's nightmare that you invest billions of dollars and all of a sudden you find that your investment has been nationalized," continued Lassonde.


Both Humala, who is supported by Venezuelan President Hugo Chávez, and García have talked about introducing windfall taxes on the mining sector and increasing the contribution of the sector to the country, if elected.



Newmont: Elections threaten investments of up to US$2bn - Peru

http://www.bnamericas.com/story.jsp?idioma=I§or=7¬icia=352459

Also see:

http://www.bloomberg.com/apps/news?pid=10000086&sid=aiMFZrvas6Gg&refer=latin_america