Newmont Enhances Long-term Growth Position in Guiana Shield
December 05 2017 - 4:33PM
Business Wire
Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company)
today announced an agreement to further explore the prospective
Esperance gold discovery in French Guiana, owned by Compagnie
Miniere Esperance (CME). The agreement entitles Newmont to earn up
to a 70 percent interest in the property through multi-year
investments.
The early stage discovery, with multi-million ounce potential,
was identified by CME on its existing land holdings following
completion of active mining at the Esperance operation in 2010. The
area contains multiple proximal undrilled targets.
“We continue to strengthen our long-term growth pipeline in
promising exploration districts. Our agreement with CME allows us
to build our business in the highly prospective Guiana Shield,
where we completed the Merian mine safely, on schedule and 20
percent below budget just over a year ago,” said Gary Goldberg,
President and Chief Executive Officer.
In 2017, Newmont increased its exploration and advanced projects
investments by approximately 25 percent, with about two-thirds of
that amount going to fund more brownfields and greenfields
exploration.
About Newmont
Newmont is a leading gold and copper producer. The Company’s
operations are primarily in the United States, Australia, Ghana,
Peru and Suriname. Newmont is the only gold producer listed in the
S&P 500 Index and was named the mining industry leader by the
Dow Jones Sustainability World Index in 2015, 2016 and 2017. The
Company is an industry leader in value creation, supported by its
leading technical, environmental, social and safety performance.
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 applicable securities laws that are intended to be
covered by the safe harbors created by Section 27A of the U.S.
Securities Act of 1933, as amended, Section 21E of the U.S.
Securities Exchange Act of 1934, as amended, and other securities
legislation, including statements that use forward-looking
terminology such as "may," "will," "expect," "anticipate,"
“possible,” "potential" or other variations thereof or comparable
terminology. Such forward-looking statements may include, without
limitation, statements regarding the exploration and/or development
potential of the Esperance project, or the Guiana Shield more
generally, and are based on current expectations that involve a
number of risks and uncertainties. Forward-looking statements are
subject to other factors that could cause actual results to differ
materially from expected results. Investors should not place undue
reliance on forward-looking statements. Factors that could cause
actual results to differ materially from any forward-looking
statement include, but are not limited to, an inability to complete
Newmont’s anticipated earn-in on the Esperance project, failure to
convert estimated mineral resources to reserves, capital and
operating costs varying significantly from expectations, the
preliminary nature of metallurgical test results and estimates,
delays in obtaining or failures to obtain required governmental,
environmental or other project approvals, political risks, changes
in exchange rates, fluctuations in commodity prices, delays in the
development, and the other risks involved in the mining and mineral
exploration and development industry. For a discussion of such
risks relating to Newmont’s business and other factors, see the
Company’s Form 10-K, filed on or about February 21, 2017, with
the Securities and Exchange Commission (SEC), as well as
the Company’s other SEC filings. Newmont does not
undertake any obligation to publicly release revisions to any
forward-looking statement 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: http://www.businesswire.com/news/home/20171205006395/en/
Newmont MiningMedia
ContactOmar Jabara,
303-837-5114omar.jabara@newmont.comorInvestor ContactJessica Largent,
303-837-5484jessica.largent@newmont.com
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