Barrick, Newmont Move to Reduce Coal Use at Nevada Venture
February 24 2020 - 2:36PM
Dow Jones News
By Micah Maidenberg
Barrick Gold Corp. and Newmont Corp. said Monday their mining
venture in Nevada approved the conversion of a coal-fired plant
into one that could also produce power from natural gas.
The venture, called Nevada Gold Mines, is working with state
regulators to secure permits to start construction on the project
this year and achieve final commissioning for the plant in the
second quarter of 2022.
Like other companies, miners have been looking to bolster their
environmental bona fides as investors focus more on those issues as
well as on social and governance concerns.
Meanwhile, coal miners that focus on utility coal face pressure,
given the carbon emissions associated with the mineral.
The Nevada venture also is considering adding a solar facility
to the mining development, Barrick and Newmont said.
Barrick owns 61.5% of the Nevada venture, with Newmont holding
the rest. Barrick operates the development, which includes the
Cortez, Carlin, Turquoise Ridge and other gold mines in the
state.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
February 24, 2020 14:21 ET (19:21 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Barrick Gold (TSX:ABX)
Historical Stock Chart
From Aug 2024 to Sep 2024
Barrick Gold (TSX:ABX)
Historical Stock Chart
From Sep 2023 to Sep 2024