(REUTERS) -- Newmont Mining's Chief Executive Richard O'Brien said he believed a gold price at $2,000 per ounce was reachable this year.

Based on this bull market and gold's rise in recent years, $2,000 is still reachable, O'Brien told the Reuters Global Mining and Metals summit in New York on Tuesday.

Gold was trading around $1,686 per ounce on Tuesday.

O'Brien also said he was confident the government of Peru would approve Newmont's proposed $4.8 billion Conga mining project that has been held up because of protests over water supplies for local farmers.