Minera Yanacocha S.A.

MIGA increased its coverage to $47 million to Newmont Mining Corporation (Newmont); Mine Or, S.A.; and Union Bank of Switzerland (UBS) for their investments in the expansion of Minera Yanacocha gold mining operation in Peru. The new funds will be used to construct and operate a new open-pit mine and heap leaching facility at Yanacochas Maqui Maqui ore body, which is projected to produce about five million tons of ore annually. MIGA guarantees cover the equity investments of Newmont and Mine Or against the risks of expropriation and war and civil disturbance; UBSs loan is insured against currency transfer as well. MIGA had previously issued guarantees to Newmont, Mine Or, and UBS for $33.2 million for Yanacocha's Carachugo mining operations.