The Sulfuros project, announced in 2021, was to have an investment of US$ 2.1 billion and was intended to allow the continuity of operations at the Yanacocha open-pit gold mine, located in Cajamarca.

The Newmont mining group, the world's leading gold producer, has decided to continue postponing the investment decision for the Sulfuros Project in the Peruvian region of Cajamarca.

The Sulfuros project, announced in 2021, was to have an investment of US$ 2.1 billion and was intended to allow the continuity of operations at the Yanacocha open-pit gold mine, located in Cajamarca.

Its implementation would allow the processing of sulphide minerals for the production of gold and copper, which would substantially extend the life of the mine, allowing the addition of 500,000 gold equivalent ounces per year.

By 2025, this project would represent an increase of more than 15% in the country's gold production level, contributing to the dynamics of the region's economy and increasing income for Peru.

However, Newmont has again opted to postpone investments, after carefully evaluating upcoming opportunities within its robust project pipeline.

In this way, you will prioritize the most profitable projects to advance at the right time and in the most capital-efficient way.

"Newmont remains committed to evaluating all opportunities in Peru, ensuring that future investment decisions deliver the greatest value for shareholders and long-term benefits for the Cajamarca region and its communities," the company said.