Yanacocha gold/silver mine

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Yanacocha (Northern-Quechua [Quasamarka / Inkawasi]: yana = black; dark -- qotr'a / quĉa = lake; puddle; pond; lagoon)[1] is a gold mine in northern Peru, considered one of the biggest and most profitable in the world producing over US$7 billion worth of gold to date. The 251-square kilometer open pit mine is situated about 30 kilometers (14 km straight line) north of Cajamarca, in high pampa, straddling the watershed. The World Bank's International Finance Corporation (IFC) provided loans totaling US$150 million for development and has a 5% equity investment in Yanacocha, which is run by the Newmont Mining Corporation, a Denver, Colorado-based company that is the world’s largest gold mining firm. Newmont is the major shareholder together with Buenaventura, a Peruvian company. In 2005, Yanacocha produced 3,316,933 ounces (103,200 kg) of gold (INEI).