Newmont Says Penasquito Blockade Lifted, But Suspension Continues
October 09 2019 - 10:22AM
Dow Jones News
By Colin Kellaher
Newmont Goldcorp Corp. (NEM) Wednesday said a blockade at its
Penasquito mine in Mexico has been lifted, but it said operations
remain suspended while it seeks government assurances that the
blockade won't be allowed to resume.
The Denver mining giant formed by the merger of Newmont Mining
Corp. and Goldcorp Inc. said the blockade, which began Sept. 14,
reduced the mine's third-quarter production by about 11,000 ounces
of gold and roughly 51,000 gold-equivalent ounces from
co-products.
Newmont last month said talks to resolve issues with a trucking
contractor and some members of the Cedros community over water had
broken down, and that the blockage, which had been lifted in April,
was back in effect.
The company Wednesday said it continues to work with Mexican
government authorities on a sustainable, long-term solution, adding
that the lifting of the blockade paves the way for talks to
resume.
The mine, part of the former Goldcorp, was hit by previous
blockades in 2018, 2017 and 2016.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 09, 2019 10:07 ET (14:07 GMT)
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