en.Wedoany.com Reported - Newmont Corporation plans to extend the production life of the Yanacocha gold mine in the Cajamarca region of Peru to 2031. Fernando Cabanillas, General Manager of Newmont Peru, announced this decision during a lecture organized by the Australia-Peru Chamber of Commerce and Industry (APCCI).

Cabanillas stated that the adjustment is based on changes in gold market conditions, along with the application of new technologies and the recovery of minerals that were previously economically unviable. Previously, Yanacocha's mining plan was only scheduled until 2027, then extended to 2029; the company now aims to further extend it to 2031 while maintaining the gradual mine closure process.

The rise in international gold prices, the validity of environmental permits, and stable relationships with stakeholders have prompted Newmont to reconsider its previous closure plans. The company will re-mine pits that were abandoned years ago due to economic infeasibility, which now offer better mining prospects under current market conditions.

In terms of technology application, Cabanillas mentioned that the company has adopted Injection Leaching technology, a patented process that recovers more minerals from leach pads, improves gold recovery rates, and supports the extension of operational plans to 2031.

Peru will send an official delegation to IMARC 2026, which connects mining leaders, investors, and technology suppliers to explore global mining development opportunities. Cabanillas' lecture was part of activities organized by the Australia-Peru Chamber of Commerce and Industry (APCCI), which will also promote the Peruvian delegation's participation in IMARC 2026, the premier mining conference in the Asia-Pacific region, scheduled to be held from October 25 to 29 in Sydney, Australia. The conference will bring together mining companies, investors, technology suppliers, and government agencies from over 120 countries, aiming to promote investment and strengthen partnerships.