of gold bearing high sulfidation outcrop system. Drilling in 1986 confirmed the gold potential. Other deposits discovered during this time include the Carachugo, San Jose, Yanacocha Norte, Maqui Maqui, Yanacocha Sur, Cerro Negro Este, and Cerro Quilish. Production began in 1993. By 2010, 20 hard rock deposits and 2 gravel alluvial fan deposits were being developed. The gold deposits are located in Miocene to Pliocene volcanic andesite host rocks. Gold and copper mineralization is centered around the Yanacocha diatreme, breccia envelopes, as in Yanacocha Norte and Yanacocha Oeste, or in the pyroclastic ignimbrite sequences, as in Yanacocha Sur. Argillic alteration commenced 11.5 Ma in the southwest part of the district at Cerro Negro Oeste, then proceeded east-northeast to Maqui Maqui in 10.2 Ma, then finally at Yanacocha Norte and Sur in 8.5 Ma. The epithermal systems were contemporaneous with porphyry intrusions. Production In 2005, Yanacocha's production peaked with 3,316,933 ounces (103,200 kg) of gold (INEI). Since then, production has steadily decreased: 3.3 million ounces (2005) 2.6 million ounces (2006) 1.6 million ounces (2007) 1.8 million ounces (2008) 2.1 million ounces (2009) 1.5 million ounces (2010) 1.3 million ounces (2011) 0.97 million ounces (2014) According to Newmont Mining annual reports from 2005 to 2011, local protests did not hinder production apart from a short production stop in 2006 due to a road blockade. Yanacocha said the mine provided 2,300 direct jobs. Ownership history In 1993, the IFC lent $23 million to build Yanacocha, which was then co-owned by US based Newmont, the Peruvian mining company Buenaventura and French government owned company Bureau de Recherches Géologiques et Minières (BRGM). The partnership collapsed in 1994 after BRGM tried to sell part of its shares to an Australian company which was a rival of Newmont. Newmont and Buenaventura would both go to court to challenge the trade. Larry Kurlander, then a senior executive at Newmont, claimed the French President Jacques Chirac had sent a letter to then Peruvian President Alberto Fujimori asking him to intervene in the court case in favor of BRGM, the French owned company. Newmont sent Kurlander to Peru in order to try to get a favorable outcome for Newmont. The legal battle eventually made it to the Peruvian Supreme Court. During this period Kurlander acknowledged having met with Vladimiro Montesinos, the Peruvian intelligence chief who has since been found guilty of embezzlement, illegally assuming his post as intelligence chief, abuse