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Newmont Goldcorp Provides Update on Penasquito Mine in Mexico

Mining News - Published on Thu, 19 Sep 2019

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Newmont Goldcorp Corporation announced that the dialogue sponsored by the government of Mexico to resolve issues with a trucking contractor and the San Juan de Cedros community has been suspended and that an illegal blockade has resumed. The Company remains willing to continue good-faith discussions and will be available to resume the dialogue once the other parties recognize their interests are best served by returning to the government-sponsored discussions and not through illegal and unproductive blockades that hurt local communities. In order to ensure the safety of people, assets, and the long-term viability of Penasquito, the Company has temporarily suspended operations for as long as the illegal blockade persists.

Over the years, Penasquito has enhanced water availability to 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.

Through the government-sponsored dialogue process, the Company has offered a number of additional enhancements, including:

Identifying new opportunities for local suppliers to contract with the mine – this would include capacity building to help them qualify to meet our standards
Reviewing existing contracts with local suppliers to ensure there is a balance with all of the neighboring communities
Building and operating permanent infrastructure to replace current water supplementation for San Juan de Cedros
Investing in additional infrastructure and amenities for the Cedros community to further support long-term economic development
In 2018, Penasquito produced 272,000 ounces of gold, and the mine directly employs more than 6,500 people while supporting another 20,000 indirect jobs in the region. Since 2005, Newmont Goldcorp has invested approximately US$5 billion in Penasquito, including US$420 million in the Pyrite Leach Plant in 2017-2018.

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Posted By : Rabi Wangkhem on Thu, 19 Sep 2019
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