something else on companies mining in bolivia. imo shows the govt stability is really not too much of an issue at present. moreso investors will be waiting to see if and how rau can pay for a start up operation in fnq or amayapampa plus even being granted permission to mine at amayapampa.
Newmont Transfers Ownership of Bolivia Mine On July 23, 2009, Newmont announced the transfer of its interest in Empresa Minera Inti Raymi S.A., which owned the Kori Kollo gold mine and Kori Chaca gold mine, to Compania Procesadora de Minerales S.A. ("CPM"), a company controlled by Newmont's long-time Bolivian partner Jose Mercado.
"We are pleased that our local partner asked for the opportunity to continue operations, which will benefit the workers, local businesses and communities," said Brian Hill, Newmont's Executive Vice President, Operations. "Based on our mine plan, Kori Kollo was expected to move into closure in the second half of this year. We believe transferring ownership to CPM is a win-win solution for Newmont, Mr. Mercado, the Kori Kollo employees and the local communities."
BIG Price at posting:
2.3¢ Sentiment: LT Buy Disclosure: Held
