Yanacocha

Yanacocha is a gold mine in the Cajamarca region of the Northern Highlands, the poorest province of Peru. Considered to be the fourth largest gold mine in the world, it produced 0.97 million ounces of gold in 2014. The 251-square kilometer open pit mine is situated about 30 kilometers north of Cajamarca, in high pampa, straddling the watershed. Yanacocha is run by the Denver, Colorado-based Newmont Mining Corporation, the world’s second largest gold mining firm and by Buenaventura, a Peruvian company. The International Finance Corporation has a 5% equity investment lending US$150 million for mine development.Overview, backgroundYanacocha gold mine is located in the province and department of Cajamarca Region, about 800 kilometers northeast of Lima, Peru in the Northern highlands at 3,500 and 4,100 meters above sea level. It operates in four primary basins and is the largest gold mine in South America. Since 1999 it is a joint venture between Colorado-based Newmont Mining Corporation (51%), Buenaventura (44%) and the World Bank Group's International Finance Corporation (5%)., 53 percent of the people in Cajamarca are poor, as defined by the Peruvian poverty level of about $100 a month.