Peru grants mining right Newmont in frontier area

The Peruvian Government has granted mining rights to Newmont Mining Corp in 20 lots (including an almost 18.962 hectares area) inside 50 kilometers of a frontier area with Ecuador.

The Peruvian law prohibits foreign companies to acquire mining rights close to the national borders, but to Newmont the grounds were transferred by a case of “public need” with the target to promote the development in these areas.