Buenaventura Now "Not Feasible" – For Social Reasons

Buenaventura Now “Not Feasible” – For Social Reasons by Dave Forest, Pierce Point

A number of ill reports for mining in Latin America this week.

That included allegations by Brazilian prosecutors that the breached Samarco tailings facility operated by BHP/Vale is continuing to leak pollution. As well as reports from world-leading copper mine Codelco of a second spill in as many months at the company’s operations in the Chilean Andes.

But one item this week stood out in terms of significance for the industry. An admission by one of Peru’s most prominent mining firms that a major gold development project is now a complete no-go.

The firm is Buenaventura. Which said Tuesday that it is officially giving up on its...