Newmont to Double Peru Gold Production by 2017

Reuters reported that Yanacocha, a subsidiary of Newmont Mining (NYSE:NEM), will nearly double its production of gold by 2017.

The market news is quoted as saying:

“We are now at 1.3 million ounces and including Conga and a series of projects we will have gold production of 2.5 million ounces in 2017,” said Thomas Savage, Regional Vice President for Newmont at the Perumin conference in Arequipa.

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