Newmont Gold Project Suspension Undermines Peru Investment

Newmont Mining Corp., which suspended a $4.8 billion gold project in Peru following violent anti-mining protests, is the fourth company this year to postpone investments there amid falling output.

The halt at Minas Conga, the nation’s biggest project, was “required by the government of Peru and for the sake of reestablishing tranquility and social peace,” Denver-based Newmont said in an e-mailed statement. Newmont, the largest U.S. gold producer, said it will seek talks with the government and communities opposing the mine.