Amid weeks of environmental protests, US gold miner Newmont Mining Corp announced its USD 4.8 billion gold project in Peru will push through as scheduled in 2015.

In November 2011, Newmont Mining Corp's Minas Conga copper and gold project encountered protests from the community, forcing the US gold producer to suspend operations. Protesters claimed the project will damage their water supplies. However, observers and critics said the protesters and their claims were being used for political ambitions by the various local politicians, including the regional governor of Cajamarca.

Mr Carlos Enrique Santa Cruz senior vice president of Newmont Mining Corp's operations in South America said that to appease the community and prevent the potentially damaging protest action to develop into a wide scale conflict, Newmont Mining Corp will increase its USD 37.7 million investment in social programs and review consultants' recommendations on environmental studies.

Mr Santa Cruz said that "We can improve the project and work with a broader population to make the benefits felt. The project is a great opportunity and mining investment is fundamental."

Newmont Mining Corp which operates the nearby Yanacocha mine, had already invested some USD 200 million in the Conga project. But it has lost USD 2 million a day since the November suspension because of the protest actions.