Newmont Goldcorp Safely Starting Up Production at Peñasquito Mine in Mexico
Government commits to assuring ongoing access
DENVER--(BUSINESS WIRE)-- Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont Goldcorp or the Company) is safely starting up production at the Peñasquito mine in Mexico following the lifting of the illegal blockade on October 8. With the support of the State and Federal governments, including an ongoing police presence, the Company has commenced an approximately 10-day process of bringing back the operation to full production.
“We appreciate the government’s efforts to uphold the law by assuring ongoing access to and from Peñasquito while continuing to sponsor the dialogue process, should that continue to be needed,” said Tom Palmer, President and Chief Executive Officer. “Our focus is on ensuring a safe start up of operations so our workforce can return to their jobs in an orderly manner.”
Peñasquito has enhanced water availability for the mine’s 25 neighboring communities through a number of projects including water treatment plants, new wells, pipelines and water trucks, along with 90 other infrastructure and community development projects. This includes installing and operating a Reverse Osmosis water treatment plant in the Cedros community in 2018 with a capacity of 600,000 liters of drinking water per day.
Peñasquito directly employs more than 6,500 people while supporting another 20,000 indirect jobs in the region. Since 2005, the Company has invested approximately US$5 billion in Peñasquito.
About Newmont Goldcorp
Newmont Goldcorp is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont Goldcorp is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical proficiency. Newmont Goldcorp was founded in 1921 and has been publicly traded since 1925.
Cautionary Statement Regarding Forward-Looking Statements
Forward-looking statements in this news release may include, without limitation, statements relating to the ramp-up of operations, future production and impacts at the Peñasquito mine, the outcome of future dialogue and resolution of the matter. Estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially. Certain factors that could cause actual results or performance to differ materially from those in the forward-looking statements include, among others, discrepancies between actual and estimated production, changes in national and local government legislation, political developments, regulatory restrictions, unexpected stakeholder and community developments and other risks. For a more detailed discussion of risks that might impact future looking statements, see Newmont Goldcorp’s Annual Report on Form 10-K for the year ended December 31, 2018 as well as Newmont Goldcorp’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2019 under the heading “Risk Factors” available on the SEC website or www.newmontgoldcorp.com. Newmont Goldcorp does not undertake any obligation to release publicly revisions to any “forward-looking statement,” including, without limitation, outlook, to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued “forward-looking statement” constitutes a reaffirmation of that statement. Continued reliance on “forward-looking statements” is at investors’ own risk.
Source: Newmont Goldcorp Corporation