Newmont buys partner’s stake in Yanacocha

Bullion major Newmont on Tuesday announced a $300-million transaction to give it control over the Yanacocha district, in Peru, where it is gearing up for a full investment decision later this year on a sulphides project that will extend operations for multiple decades.

Newmont announced that it would buy out partner Buenaventura’s 43.65% interest in Yanacocha for $300-million, plus future payments of up to $100-million that were tied to metal prices.