Magnitude 7 Earthquake Makes No Impact on Peruvian Mining Industry

Despite a magnitude 7 earthquake of the magnitude of 7 on the Richter Scale hitting Peru on Wednesday, no effect was felt by the mining industry. The Chief Executive Officer of the country’s largest mining company Buenaventura said that the earthquake in north Peru did not disrupt mining operations.

Roque Benavides, chief executive of precious metals mining company Compania de Minas Buenaventura SA said that he was unaware of any damage from the earthquake being reported from its operations in northern Peru. The Yanacocha gold mine in northern Peru is held 43.65% by the Compania de Minas Buenaventura and 51.35% by the Newmont Mining Corporation.

The U.S. Geological Survey reported that the earthquake had a magnitude of 7 and struck at 1746 GMT. The epicenter of the earthquake was near the border with Brazil and it had occurred at a depth of 145 km.

The representatives of Barrick Gold Corp which operates the Lagunas Norte mine in northern Peru were unavailable for comment immediately. However a representative Andy Lloyd said that he could not confirm that the earthquake had no impact on the company's gold mines in Peru.

The Peruvian Geological Institute alleged that there was no likelihood of any tsunami, as the earthquake was situated in the Amazon jungle region.