Newmont Goldcorp Confirms Illegal Blockade Lifted at Peñasquito Mine in Mexico
October 09 2019 - 9:20AM
Business Wire
Operations remain temporarily suspended pending further
assurances
Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont
Goldcorp or the Company) confirmed that the illegal blockade of the
Peñasquito mine in Mexico was lifted yesterday. The Company
continues to work closely with the federal and state governments
toward a sustainable, long-term solution, and lifting of the
blockade paves the way for the government-sponsored dialogue to
resume. Operations at the mine remain temporarily suspended pending
further evaluation of the situation on the ground and assurances
that the blockade will not be allowed to resume.
In order to protect people, assets, and the long-term viability
of the mine, operations at Peñasquito had been safely suspended
since the illegal blockade began on September 14.
The illegal blockade impacted Peñasquito’s third quarter
production by approximately 11,000 gold ounces, 1.7 million silver
ounces, 13.7 million pounds of lead and 22.8 million pounds of
zinc, and is expected to impact the Company’s full-year results for
the operation. Through September 30, this represents an approximate
production shortfall of 11,000 gold ounces and 51,000 gold
equivalent ounces from co-products.
Peñasquito Q3 2019
results
Consolidated
production
Consolidated sales
Gold (koz)
58
36
Silver (koz)
7,416
4,583
Lead ('000 lbs)
51,100
29,700
Zinc ('000 lbs)
83,100
107,100
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. This includes installing and operating a Reverse Osmosis
Plant in the Cedros community with a capacity of 600,000 liters of
drinking water per day.
Peñasquito 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 Goldcorp
Newmont Goldcorp 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 Goldcorp 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 Goldcorp was founded in 1921 and has been
publicly traded since 1925.
Cautionary Statement Regarding Forward-Looking
Statements
This press release may contain "forward-looking statements"
within the meaning of Section 27A of the US Securities Act of 1933,
as amended, and Section 21E of the US Exchange Act of 1934, as
amended, which are intended to be covered by the safe harbor
created by such sections and other applicable laws. Forward-looking
statements in this news release may include, without limitation,
statements relating to future impacts on production, and
expectations regarding the duration of suspension of operations at
the Peñasquito mine, resumption of negotiations, cessation of the
blockage and resolution of the matter. Estimates or expectations of
future events or results are based upon certain assumptions, which
may prove to be incorrect. 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. Certain factors that
could cause actual results or performance to differ materially from
those in the forward-looking statements include, among others,
discrepancies between actual and estimated production, changes in
national and local government legislation, political developments,
regulatory restrictions, unexpected stakeholder and community
developments and other risks. For a more detailed discussion of
risks that might impact future looking statements, see Newmont
Goldcorp’s Annual Report on Form 10-K for the year ended December
31, 2018 as well as Newmont Goldcorp’s Quarterly Report on Form
10-Q for the quarter ended June 30, 2019 under the heading “Risk
Factors” available on the SEC website or www.newmontgoldcorp.com.
Newmont Goldcorp 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 press 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/20191009005224/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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