Because of its scale and prominence, Yanacocha may hold the key to mining's future in Peru.

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The Conga project is an expansion of the Yanacocha mine in Cajamarca and is located 73 kilometers from the city of Cajamarca.

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Third-quarter South American output, which largely comes from Yanacocha in Peru, was near steady at 188, 000 ounces, compared to 187, 000 the year-ago period.

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Buenaventura also is an important shareholder of Minera Yanacocha S.R.

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The South American segment features Yanacocha and Conga in Peru.

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Newmont, based in Denver, Colorado, is the majority owner of the Conga project, which was to begin production in 2015 and is an extension of Yanacocha, Latin America's biggest gold mine.

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