Newmont is planning to undertake cost-cutting efforts in 2024, and as such has opted to defer its decision of a full funds investment in the expansion of its Yanacocha sulphides expansion in Peru for “at least” two years. Officially, the producer said it wants to “advance…[a] portfolio optimization strategy” that will prioritize other opportunities and support a disciplined capital allocation…
Read MoreTag: Newmont
Newmont halts operations at Peñasquito over labor dispute
Newmont has suspended operations at its Peñasquito mine in Mexico in response to a strike notice by the National Union of Mine and Metal Workers of the Mexican Republic. The company said it will maintain essential activities related to safety, security and environmental monitoring and protection at the site. Full story.
Read MoreWorkers back at Newmont’s Ahafo South following fire
Miners and staff were all reported safe and are now back to work once again after a fire incident last week at Newmont’s Ahafo South mine laboratory in western Ghana. According to local media, the 9 April damaged equipment but did not injure anyone. The fire was brought under control without further issues. An investigation into the cause is still…
Read MoreNewmont selects Viljoen for COO seat
As Newmont plans a transition of its current executive vice president and COO Rob Atkinson to a new role focused on driving strategic initiatives for the company, it has appointed 30-year industry veteran Natascha Viljoen to the COO role. Full story.
Read MoreNewmont proposes Newcrest US$16.9 billion takeover
In a move to combine two of the top senior gold producers, U.S.-based Newmont has submitted a non-binding proposal to acquire 100% of the issued share capital of Australian peer Newcrest Mining by way of a scheme of arrangement. If successful, it would be the largest mining takeover and the third-largest corporate buyout in Australian history, according to Refinitiv data.…
Read MoreCaterpillar, Newmont hit automation milestone at Boddington
Newmont’s Boddington operation, which has the distinction of being Western Australia’s largest gold operation, has met a significant target with the gold industry’s first autonomous haulage system: 100 million tonnes (110 million tons) hauled. Full article.
Read MoreNewmont puts Yanacocha on ice
Gold miner Newmont has opted to put an investment decision on hold for its Yanacocha sulphides project in Peru, part of its planned expansion of the mine to extend its lifespan beyond 2040. The company said it will now make its full-funds decision on the project during the second half of 2024, citing the market as well as “the continued…
Read MoreDiscovery Silver adds Esplin as COO
Canadian-based and Mexico-focused Discovery Silver, owner of the Cardero silver complex in the Chihuahua state, has appointed former Newmont and Barrick executive Anthony Esplin to serve as its chief operating officer (COO). View full article from North American Mining.
Read MoreNewmont acquires Yanacocha interest
Newmont has confirmed it has inked a deal with Peruvian precious miner Compañia de Minas Buenaventura to acquire its 43.65% interest in the Minera Yanacocha gold mine in Peru. The $300 million transaction, which also includes contingent payments of up to $100 million hinging upon market pricing, will also allow Newmont to transfer its ownership interest in the La Zanja…
Read MoreNewmont selling power business to Northern Star
Northern Star will soon own more power after buying Newmont’s power business from its Australian division for US$95 million. The move comes after the former paid $25 million for a 50% interest in Kalgoorlie Consolidated Gold Mines (KCGM), which afforded it the option to obtain the business from Newmont. Northern Star now has a sale agreement with Newmont Australia to…
Read More