Peñasquito and Cedros Community Agreement Ratified
August 20 2020 - 8:30AM
Business Wire
Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or The
Company) announced today that the Cedros General Assembly ratified
the definitive agreement that was reached on April 22, 2020 and
resolved all outstanding disputes between Peñasquito and the San
Juan de Cedros community (Cedros).
The agreement was developed with the support of Mexico’s
Ministry of Interior (SEGOB), the Government of the State of
Zacatecas, the Undersecretary of Mining, and the Mining Union, and
was signed by elected representatives of the Cedros community. The
Cedros General Assembly was held with consent from the Zacatecas’
Ministry of Health with safety measures and protocols recommended
by the Federal Ministry of Health.
“Through the comprehensive application of Newmont’s
sustainability practices at Peñasquito, we achieved a significant
milestone with the formal ratification of the agreement that was
reached earlier this year with the Cedros community,” said Tom
Palmer, President and Chief Executive Officer. “Together, with the
water plan signed last year, we are pleased to bring months of
negotiation with the Cedros community to a close and look forward
to sustainably operating in this region for decades to come. It is
only through patient and transparent community engagement, combined
with strong government support, that we have been able to reach a
lasting solution that is beneficial to all stakeholders.”
As previously announced, Peñasquito reached a definitive
agreement with the San Juan de Cedros community (one of 25
neighboring communities) in Zacatecas, Mexico on land use, water
availability, infrastructure and social investments. This includes
access to more than 10,000 hectares of the Cedros ejido´s land for
exploration, mineral production and other operational purposes, and
resolves all outstanding disputes between the two parties. The
agreement expressly states that any future disputes will be
resolved through dialogue and free of blockades.
Peñasquito is a world-class asset with over 8 million ounces of
gold Reserves and approximately 26 million ounces in gold
equivalent ounce Reserves, and the significant exploration
potential in this prospective district may allow the Company to
extend value delivery for decades to come.
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 expertise. Newmont was founded in 1921 and
has been publicly traded since 1925.
Cautionary Statement
This news release may contain “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. Where a
forward-looking statement expresses or implies an expectation or
belief as to future events or results, such expectation or belief
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 from future results expressed, projected or implied by
the forward-looking statements. Forward-looking statements include
our expectations of future prospects and exploration and operating
results, as well as expectations regarding future community and
stakeholder relations and conflict resolution. For a discussion of
risk and other factors that might impact future looking statements,
see the Company’s Annual Report on Form 10-K for the year ended
December 31, 2019 filed with the U.S. Securities and Exchange
Commission (the “SEC”), under the heading “Risk Factors”, as well
as in the Company’s subsequent Quarterly Reports on Form 10-Q,
available on the SEC website or www.newmont.com. 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200820005271/en/
Media Contact
Eric Colby 303-837-5724 eric.colby@newmont.com Investor Contact
Jessica Largent 303-837-5484 jessica.largent@newmont.com
Newmont (NYSE:NEM)
Historical Stock Chart
From Aug 2024 to Sep 2024
Newmont (NYSE:NEM)
Historical Stock Chart
From Sep 2023 to Sep 2024