Newmont’s Peñasquito Mine and Cedros Community in Mexico Agree to Water Pact
December 13 2019 - 8:15AM
Business Wire
Newmont (NYSE: NEM, TSX: NGT) (Newmont or the Company) announced
today that the Peñasquito mine and the nearby San Juan de Cedros
community (one of 25 neighboring communities) in Zacatecas, Mexico
mutually agreed to an infrastructure solution securing sustainable
water availability for the community’s domestic and agricultural
uses. The 30-year water agreement represents a significant
milestone and an important step in the ongoing negotiations between
the parties. The agreement was developed and signed under the
auspices of the ‘Dialogue Table’ sponsored by Mexico’s Federal
Department of the Interior and representatives of the state
government of Zacatecas.
“Our water agreement with the Cedros community represents a
meaningful turning point towards a long-term partnership anchored
in our common purpose to create value and improve lives,” said Tom
Palmer, President and Chief Executive Officer. “Having reached
agreement on this pivotal issue, we look forward to continuing our
good-faith dialogue to resolve the remaining issues so we can move
from confrontation to cooperation.”
The plan includes additional water wells and infrastructure that
will supplement the 600,000 liter-per-day Reverse Osmosis drinking
water plant and wells the Company built in 2018 and continues to
operate. As part of the agreement, the municipality will
participate in the operation of the new water facilities to be
built by Peñasquito as the public water system and the distribution
networks will ultimately be owned by the municipality.
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. The mine 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
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.
Cautionary Statement Regarding Forward-Looking
Statements
This release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
which are intended to be covered by the safe harbor created by such
sections and other applicable laws. Such forward-looking statements
may include, without limitation, statements regarding future value
creation and the outcome of future dialogue and negotiations. 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. For a discussion of risks and other factors that might
impact forward-looking statements or the Company’s future
performance, see the Company’s Quarterly Report on Form 10-Q for
the quarter ended June 30, 2019 under the heading “Risk Factors”,
filed with the U.S. Securities and Exchange Commission (the “SEC”)
and available on the SEC website or www.newmontgoldcorp.com, as
well as the Company’s other SEC filings, including the most recent
Quarterly Report on Form 10-Q for the quarter ended September 30,
2019. The Company 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 news 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20191213005119/en/
Media Contact Omar Jabara
303.837.5114 omar.jabara@newmont.com
Investor Contact Jessica Largent
303.837.5484 jessica.largent@newmont.com
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