Government Restrictions in Peru Require Safely Ramping Down Mining Operations at Yanacocha

Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) announced today that Coronavirus-related government restrictions in Peru will require safely ramping down mining operations at Yanacocha while gold production from leach pads and managing critical safety and environmental activities will continue.

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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Tuesday, March 17, 2020
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Tags: 
Mining, Minerals, Natural Resources, Newmont Mining Corporation, Newmont Goldcorp, Yanacocha, NEM, Companies
Geotags: 
United States, PERU, South America, Canada, Colorado
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NEWMONT
Summary
Key Points: 
  • Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) announced today that Coronavirus-related government restrictions in Peru will require safely ramping down mining operations at Yanacocha while gold production from leach pads and managing critical safety and environmental activities will continue.
  • Yanacocha has been operating normally since the beginning of the year and represents approximately three percent of the Companys 2020 attributable gold production outlook.
  • As the situation is dynamic and the duration of these restrictions uncertain, we are currently unable to determine the ultimate impact on Yanacochas production and costs for 2020.
  • The Companys world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa.


Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) announced today that Coronavirus-related government restrictions in Peru will require safely ramping down mining operations at Yanacocha while gold production from leach pads and managing critical safety and environmental activities will continue.

Yanacocha has been operating normally since the beginning of the year and represents approximately three percent of the Company’s 2020 attributable gold production outlook. As the situation is dynamic and the duration of these restrictions uncertain, we are currently unable to determine the ultimate impact on Yanacocha’s production and costs for 2020.

”The health and safety of our workforce and host communities takes precedence above all else,” said Tom Palmer, President and Chief Executive Officer. “While we have no confirmed COVID-19 cases among Newmont’s workforce or any major disruptions to production at our other sites at this time, we are proactively taking steps to protect our people and the continuity of our business during this global pandemic.”

More information on Newmont’s proactive efforts to minimize impacts to its people and business may be found here.

About Newmont

Newmont 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 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 was founded in 1921 and has been publicly traded since 1925.

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