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Antilles Gold Limited
Investor Insight
Antilles Gold’s gold and copper projects in Cuba are underpinned by a strong partnership with a Cuban Government-owned mining company that effectively fast-tracks and de-risks its promising projects, offering a strategic value proposition for investors.
Overview
Antilles Gold (ASX:AAU,OTCQB:ANTMF) is an Australian mining company focused on gold and copper projects in Cuba through a joint venture with the Cuban Government’s mining company, GeoMinera. This partnership has resulted in rapid project permitting and access to several new development opportunities for the Australian company.
Antilles Gold offers strong growth potential through two near‐term development projects, Nueva Sabana and La Demajagua, and two exploration projects, the El Pilar porphyry system and Sierra Maestra copper concessions.
Joint venture projects in Cuba
Nueva Sabana is a near‐term, gold‐copper mine development within the joint venture with GeoMinera, and is expected to initially produce around 70 grams per tonne (g/t) gold in a concentrate from a high‐grade gold cap followed by ~27 percent copper concentrate with gold credits. The project development strategy includes the completion of a feasibility study in September 2024, and the commencement of construction soon after.
The second proposed development is the La Demajagua open-pit mine, which is likely to produce ~50,000 tonnes per annum (tpa) of gold arsenopyrite concentrate (32 g/t gold, 27 percent arsenic), and ~10,000 tpa of gold antimony concentrate (28.8 g/t gold, 48 percent antimony, 1,200 g/t silver) for nine years. According to the plans, construction will commence in late 2025, with commissioning in mid‐2027. La Demajagua will also include the construction of a concentrate processing facility to treat La Demajagua’s gold arsenopyrite concentrate, with the capacity to produce 50,000 oz gold per year in dore, which will further increase JV profit and cashflow.
The joint venture’s two exploration projects comprise the 720‐hectare El Pilar Concession in Central Cuba covering a cluster of three copper‐gold porphyry deposits (El Pilar, Gaspar and San Nicholas), the adjacent 17,000 hectare San Nicholas concession with porphyry style mineralisation, and two concessions totaling 52,600 hectares within the producing Sierra Maestra copper belt in southeast Cuba (La Cristina and Vega Grande), with both indicating of porphyry deposits highly prospective for copper, gold and molybdenum.
Surface mineralisation at El Pilar
Antilles Gold has completed a technical evaluation of the El Pilar porphyry system which was advised to ASX on 15 February 2024.
The joint venture intends to invest part of the surplus cash flow from the Nueva Sabana mine to fund the exploration of major copper targets, including the El Pilar copper‐gold porphyry system, and those in the Sierra Maestra copper belt.
Company Highlights
- Antilles Gold Limited is an Australian mining company listed on the ASX (AAU) and OTCQB (ANTMF).
- The company is focused on gold and copper projects in Cuba through a 50:50 joint venture with the Cuban Government’s mining company, GeoMinera, opening new development opportunities for Antilles and de-risking permitting processes.
- The joint venture is engaged in four development projects: 1) Nueva Sabana gold‐copper mine; 2) La Demajagua gold mine; 3) El Pilar porphyry copper project; and 4) Exploration of two concessions within the Sierra Maestra copper belt. Of these, Nueva Sabana and La Demajagua offer near‐term development opportunities.
- Nueva Sabana is a near‐term gold‐copper mine development that is expected to generate strong cash flow from concentrate sales from end‐2025.
- La Demajagua is an open-pit mine gold project commencing construction in Q4 2025 with commissioning in mid‐2027.
- El Pilar and Sierra Maestra concessions are exploration projects.
- Investment in Cuba offers several benefits, including richness in minerals, low operating costs and royalties, stable government and regulations, several investment incentives and the availability of a skilled workforce.
Key Projects
Nueva Sabana Project
Prominer Mining Technology will supply Nueva Sabana concentrator
Nueva Sabana is the company’s near‐term, gold‐copper mine development project. The project is held in the 50:50 joint venture with GeoMinera. It will be an open-pit mine developed on the oxide zone overlaying the El Pilar porphyry copper deposit in central Cuba.
Results from 24,000 metres of historical drilling, 1,800 metres drilled in 2022, and the 10,000 metres drilled in 2023 have established a mineral resource estimate (MRE). Results of a scoping study were advised to ASX on 7 May 2024, and a feasibility study is in progress for the proposed development which will be followed by a 12‐month construction phase.
Drilling has shown outstanding grades for gold and copper, and increasing lateral and vertical boundaries of the copper domain.
The proposed mining rate for the project will be 500,000 tpa of ore with a low waste‐to‐ore ratio. The anticipated initial production of 70 g/t gold concentrate will be followed by a ~27 percent copper concentrate with gold credits.
The estimated project cost is approximately US$33 million, of which approximately US$6 million is shareholders equity with the balance of $27 million expected to be funded through an advance on purchases of the concentrates by an international commodities trader.
Chinese engineering group, Prominer Mining Technology, which has extensive experience in designing and constructing gold and copper concentrators, is expected to supply the crushing and flotation circuits for the Nueva Sabana mine.
La Demajagua Project
La Demajagua involves the development of a gold‐antimony‐silver deposit as an open-pit mine by the joint venture company, Minera La Victoria.The project is located within a 900 hectare mining concession on the Isle of Youth, 60 nautical miles from mainland Cuba. The project site is 35 kilometres from the port city of Nueva Gerona and enjoys excellent infrastructure in terms of accessibility by highway, and availability of water, electricity and fiber optic cable.The project has an MRE of 905,000 oz gold equivalent for the open-pit operation. The MRE was calculated from 29,000 metres of drilling undertaken by the JV, and selective results from about 50,000 metres of historic drilling and revised after the receipt of additional antimony assays. The project expects mining of about 815,000 tpa of ore to produce two concentrates: 50,000 tpa of gold‐arsenopyrite and 10,000 tpa of gold‐antimony‐silver for nine years.
The project will also include a concentrate processing facility to produce gold doré from the gold-arsenopyrite concentrate. The facility will comprise a 50,000‐tpa two‐stage fluidized‐bed roaster, a carbon-in-leach (CIL) circuit, and an antimony recovery circuit. The overall production target is 75,000 oz gold equivalent per year. Chinese engineering firm BGRIMM Technology Group, which has extensive experience in designing and constructing roasters, is expected to supply the process plant on a turnkey basis.
The total development cost is estimated at US$165 million, expected to be funded by US$75 million of equity, which includes contributions by a third shareholder in the project, and the balance of US$90 million in debt. The life‐of‐mine cash surplus is estimated at ~US$600 million, with an NPV of ~US$330 million based on US$1,800/oz gold, and US$13,000/t antimony.
A revised scoping study including the concentrate processing facility is expected in December 2024, and construction is anticipated to commence in late 2025, with commissioning targeted for mid‐2027.
El Pilar Copper‐Gold Porphyry System Project
El Pilar is an exploration project of a cluster of three copper‐gold porphyry deposits: El Pilar, Gaspar and Camilo. The project comprises a 752 hectare exploration license and an adjacent 17,000 hectare reconnaissance permit covering the San Nicholas copper targets.
The project site benefits from established infrastructure with close access to a major highway, high‐tension power, and a 60 kilometre rail link to Palo Alto port.
Previous mapping, soil sampling, ground magnetics, an aeromagnetic survey and 24,000 metres of shallow drilling confirmed the existence of copper‐gold mineralization and identified the exposures as a potentially large, leached porphyry system. The surface exposures at El Pilar are leached phyllic caps to a cluster of copper‐gold porphyry cores. The extent of surficial hydrothermal alteration indicates the porphyry intrusions have large dimensions, and potential depths greater than 1,000 metres.
Ground magnetics and induced polarization surveys in early 2023 have confirmed a cluster of three potentially large porphyry intrusives – El Pilar, Gaspar and Camilo. A 10‐hole initial program has demonstrated positive results with good copper intercepts in porphyry‐style veining and has indicated the proximity of drilling to the core of El Pilar porphyry intrusive. In particular, drill hole PDH‐004A assayed 1.23 percent copper over its length of 134 metres from 49 metres.
Sierra Maestra Copper Belt Project
The project is an exploration project covering two highly prospective concessions for copper, gold and molybdenum in the Sierra Maestra copper belt in southeast Cuba. It includes a 3,600-hectare geological investigation license in La Cristina, and the adjoining 49,000‐hectare Vega Grande reconnaissance license.
The copper belt spans more than 200 kilometres of Cretaceous‐age geology intruded by Eocene stocks, which are the source of widespread gold and base‐metals mineralization. The project is near the El Cobre mine which is the oldest operating copper mine in the Americas. The concessions incorporate a series of copper‐gold‐molybdenum zones that display significant footprints of hydrothermal alteration normally associated with potentially large porphyry systems.
An extensive, two‐year prospecting program will be carried out on the two concessions, commencing in Q4 2024, to identify drill targets.
Management Team
Brian Johnson – Executive Chairman
Brian Johnson is a graduate of civil engineering from the University of Western Australia and a member of the Institute of Engineers, Australia. He has rich experience in the construction and mining industries in Australia, Southeast Asia and North America. He was instrumental in establishing successful companies in the iron ore and coal sectors. Previously, he has served as a director of two listed gold producers, and of companies with stock exchange listings in London, New York, Vancouver and Australia.
James Tyers – Chief Executive Officer
James Tyers is a member of the AusIMM and has more than 30 years of experience in the mining industry, holding senior management roles in gold and iron ore operations. He has been associated with the Palm Springs Gold Mine in the Kimberley region of Western Australia, and the Cornishman Project, a JV between Troy Resources and Sons of Gwalia. He has experience developing and operating iron ore projects in the mid‐west of Western Australia. He was responsible for developing the Las Lagunas Project and is the project director for the La Demajagua gold mine in Cuba.
Ugo Carlo – Non‐executive Director
Ugo Carlo has more than 30 years of experience in the Australian mining industry. Throughout his career, he has served in several senior leadership roles at Rocklands Richfield, Austral Coal and Conzinc Rio Tinto Australia Group. He is also a former director of the Port Kembla Coal Terminal, the New South Wales Joint Coal Board, and interim chairman of the New South Wales Minerals Council.
Angela Pankhurst – Non‐executive Director
Angela Pankhurst has more than 20 years of experience as an executive and non‐executive director, primarily in the mining industry. She has been a senior executive for companies with projects in Kazakhstan, Nigeria, Vietnam, South Africa and Australia. She has held senior leadership positions at Antilles Gold and Central Asia Resources. She is currently a director of Consolidated Zinc and a director of Imritec.
Tracey Aitkin – Chief Financial Officer
Tracey Aitkin is a professional member of CPA Australia and has more than 30 years of rich experience in finance, administration and staff management across a range of industries, including mining, manufacturing, retail, transport and agriculture. She joined the company in 2009 and was named CFO in 2010.
Dr. Jinxing Ji – Technical Director
Dr. Jinxing Ji is a seasoned metallurgist with six years of research experience in universities and 26 years of practical experience in the mining industry related to gold, silver, copper, zinc and lead. His broad experience includes due diligence, metallurgical test work, pre‐feasibility study, feasibility study, detailed design, plant commissioning support, and operational support for projects in Turkey, Greece, Canada, China, Romania, Brazil and Papua New Guinea.
Steve Mertens – Mining Director
Steve Mertens is a mining engineer with more than 20 years of industry experience across a range of commodities, including nine years based in Latin America. He has been associated with the Goro Nickel Project in New Caledonia and the Mina de Cobre Project in Panama. Prior to his current role as general manager for the Minera La Victoria JV company, he was the mining manager for Antilles Gold’s Las Lagunas operation in the Dominican Republic.
Chris Grainger – Exploration Director
Chris Grainger holds a PhD in economic geology from the University of Western Australia. He is an Australian geologist with more than 25 years of international experience with involvement in grassroots and brownfield exploration, as well as resource definition and development, with a focus on precious and base metals in South and Central America and the Caribbean. He has been associated with Continental Gold’s Buritica gold‐silver project, and Cordoba Minerals’ Alacran copper‐gold project.
Menzies’ Lady Shenton System Continues to Impress with RC Drilling Results to 80.4 g/t Au
HIGHLIGHTS
- The final assays have been received for infill RC drilling conducted at the Pericles deposit, within the larger 287koz Au Lady Shenton System at the Menzies Gold Project
- Drilling results included wide and high-grade intercepts (>10 gram-metres) including:
- LSRC24014
- 4m at 22.4 g/t Au from 74m, including 1m at 80.4 g/t Au from 75m, and
- 6m at 2.30 g/t Au from 92m
- LSRC24042
- 4m at 14.9 g/t Au from 0m, and
- 12m at 1.87 g/t Au from 129m
- LSRC24039
- 10m at 7.1g/t Au from 129m, including 1m at 55.4g/t from 132m
- LSRC24032A
- 12m at 3.87g/t Au from 123m, and
- 1m at 15.5g/t Au from 110m
- LSRC24029
- 4m at 6.77g/t Au from 131m, including 1m at 19.1g/t Au from 133m
- LSRC24028
- 7m at 3.82g/t Au from 121m
- LSRC24025
- 6m at 3.51g/t Au from 108m
- LSRC24013
- 7m at 2.89g/t Au from 58m, including 1m at 13.4g/t from 64m
- LSRC24011
- 7m at 2.81g/t Au from 81m, including 1m at 14.0g/t Au from 87m
- LSRC24022
- 2m at 9.13g/t Au from 81m, and
- 2m at 5.23g/t from 60m
- LSRC24026
- 2m at 8.0g/t Au from 132m, and
- 8m at 1.78g/t Au from 119m, and
- 7m at 1.57g/t Au from 138m
- LSRC24012
- 3m at 4.66g/t Au from 41m
- LSRC24023
- 1m at 12.34g/t Au from 81m, and
- 9m at 1.28g/t from 152m
- LSRC24014
- This program completes the drilling component of the previously announced Definitive Feasibility Study1 and +30,000m drilling program2, with material presently being assessed at metallurgical laboratories in parallel with Mineral Resource Estimate updates, geotechnical studies and planned mining optimisation workflows planned for delivery in H1 2025
Brightstar’s Managing Director, Alex Rovira, commented“The high grade and wide intercepts received from this drilling campaign builds on our existing knowledge of the Lady Shenton System, with these results showing consistent mineralisation within and immediately below the A$2,750/oz pit shell generated during our Scoping Study. At the time, this gold price was considered conservative and even more so given that the current spot gold price is over A$4,100/oz.
We intend to immediately commence a Mineral Resource Estimate update for this deposit, with the view to building high levels of confidence in our DFS mine design in parallel with other workstreams currently underway. We are also progressing approvals for Menzies, with proactive environmental planning and community engagement ongoing to facilitate mining operations targeted to commence in 2025.
With these Menzies RC assays now received, we look forward to receiving the outstanding Fish and Lord Byron diamond hole assays from the Jasper Hills Project over the coming weeks, along with re-commencing RC drilling at our newly acquired Montague East Gold Project located north of Sandstone in the Murchison region”.
Figure 1 – Lady Shenton location within broader Menzies Gold Project
TECHNICAL DISCUSSION
A grand total of 58 holes have been drilled in two campaigns at the Pericles deposit during 2024, with results from 26 drill holes released previously on 8th July 2024 including intercepts such as 5m at 15.62g/t Au from 104m (LSRC24049) and 2m at 22.32g/t Au from 95m (LSRC24051). All assays from the second campaign have now been received and assessed, with information presented in Tables 2 & 3 and Figures 2 & 3 of this release.
As part of the September 2023 Scoping Study for the Menzies and Laverton Gold Projects, Brightstar commissioned independent mining engineering consultants to complete open pit optimisations at a conservative gold price of A$2,750/oz Au for a “base case” scenario analysis as shown in Figure 3. At the time of reporting, the gold price assumption used in the Scoping Study is significantly under the spot gold price of +A$4,100/oz.
Figure 2 - Lady Shenton System drilling program (Pericles Deposit) Cross section A-A’ is displayed in Figure 3
The overall program, which was completed in two campaigns to allow for an opportunity to fast-track drilling at the Jasper Hills Gold Project, was designed to confirm mineralised lode positions within the $2,750/oz pit shell with the intent of infilling key areas to increase mineral resource estimate confidence to support the potential declaration of Ore Reserves as part of the DSF.
Click here for the full ASX Release
This article includes content from Brightstar Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
New Exceptionally High-Grade Gold Intersections from Infill Drilling at Crown Prince
Highlights
- Ora has received assays for a 7,500m, 66-hole infill RC drilling program at Crown Prince. This drilling was undertaken to better define mineralised lodes within the south eastern zone (SEZ) deposit to upgrade resource categories within a future conceptual open pit area.
- This drilling has returned some exceptional grades and intercepts including:
- 20m at 277g/t Au from 40m including 4m at 1,368g/t Au from 52m (OGGRC859)
- 15m at 14.7g/t Au from 152m (OGGRC872)
- 9m at 21.44g/t Au from 28m including 2m at 77.8g/t Au from 31m (OGGRC883)
- 7m at 11.74g/t Au from 132m (OGGRC874)
- 11m at 6.72g/t Au from 4m (OGGRC886)
- 12m at 6.05g/t Au from 76m including 4m at 10.2g/t Au from 80m (OGGRC895)
- 9m at 6.27g/ t Au from 66m including 1m at 18.6g/t Au from 66m (OGGRC888)
- 7m at 6.87g/ t Au from 133m (OGGRC864)
- New very high-grade zones have been encountered in the footwall of SEZ lodes which will likely improve grade and tonnage estimates in this area.
- This infill drilling has generally confirmed gold mineralisation modelling and has upgraded the quality in many areas.
Ora is continuing to progress Crown Prince towards development, targeting production commencement mid calendar year 2025. Among the several workstreams underway, including regulatory approvals, the Company has completed infill drilling ahead of releasing an ore reserve.
The program was designed to target zones of mineralisation within a conceptual pit design at Crown Prince that are currently in the inferred category of mineral resource (refer ASX release 20 February 2024). This drilling successfully confirmed mineralised zones and improved gold grades in some key areas.
Other improvements from this infill drilling include delineation of new near surface high grade zones and parallel lodes in new positions in the footwall and hanging wall of the south eastern zone (SEZ) mineralisation.
These zones are within the conceptual open pit for the Crown Prince deposit and are expected to add to the mineral resource and future mining inventory. Importantly, the grades returned in this infill drilling support existing published grades and may provide a foundation for an uplift in the average grade overall for the resource.
Assay results discussed in this announcement are shown in Appendix 1 & Figures 2-5. RC hole details are included in Table 1.
Alex Passmore Ora Gold’s CEO commented:
“We are very pleased to report these exceptionally high-grade results returned from recent infill drilling. The infill drilling was carried out successfully and has confirmed or improved the mineralisation model we have for Crown Prince.
Such high-grade headline results demonstrate the high quality nature of the Crown Prince Project and point to its likely strong economics during development and production.
We look forward to providing further information on the updated resource estimate in coming weeks and then to follow up with an ore reserve as work progresses.”
Figure 1. Ora Gold Regional Tenements - Crown Prince located 21km north of Meekatharra
Figure 2. Significant gold intercepts from recent infill RC holes at Crown Prince
Figure 3. Cross Section A-A’ at the western end of SEZ Mineralisation
Cross Section A-A’
Infill drilling at SEZ has confirmed new FW and HW lodes outside the current mineralisation wireframes, with outstanding high-grade intercepts Including: 20m @ 277.36g/t Au from 40m (incl: 4m @1368.11 g/t Au from 52m) in OGGRC859 and 35m @ 2.96 g/t Au from 173m In OGGRC873.
Extensions to the current mineralisation model along section A-A have been confirmed by intercepts in OGGRC862, 875 and 872 which include 7m @ 6.87 g/t Au from 133m in OGGRC864 and 15m @ 14.7 g/t Au from 152m (incl: 1m @ 177 Au from 153m).
New high-grade intercepts in OGGRC859, along with previous intercepts in OGGRC477 have highlighted additional mineralised zones close to surface in the footwall, which fall outside existing mineralisation wireframes.
OGGRC873 has strengthened the current interpretation that the high-grade shoots at the southwestern end remain wide and continuous at depth.
The SEZ host geology consists of a series of coarse-grained amphibole dolerites and minor high Mg basalts which grade into an intensely sheared unit proximal to mineralisation. Gold is associated with classic, extensional mesothermal style quartz lodes with characteristic Fe carbonate +/- fuchsite alteration, with high grade zones occurring with sulphide laminations and microstructures that crosscut the early-stage white buck veins.
Recent infill drilling has confirmed that the mineralisation system remains high grade down dip, highlighting potential for future underground mining.
Click here for the full ASX Release
This article includes content from Ora Gold, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Maiden Ore Reserve – Wonawinta Silver Mine
Highlights
- The Wonawinta Silver Mine and Processing plant is a highly strategic asset located within the prolific Cobar Basin, NSW, and owned 100% by Manuka Resources Limited.
- Wonawinta is the only primary silver Reserve in Australia with all mining approvals current and intact, and process plant fully constructed - Wonawinta was producing silver for Manuka as recently as late 2022.
- Ore Reserve of 4.8Mt1 at 53.8g/t Ag containing 8.4Moz of silver comprising:
- Proved Ore Reserves of 0.8Mt at 50.8g/t Ag; and
- Probable Ore Reserves of 4.1Mt at 54.3g/t Ag.
- Ore Reserve is based solely on shallow (<40m deep) oxide material.
- Total Wonawinta Resource comprises 38.3Mt at 41.3g/t Ag for 51Moz of silver (ASX release 1 April 2021).
- The Ore Reserve and associated Implementation Plan will be used to assess the potential to take Wonawinta out of active care & maintenance and recommence silver production.
- Manuka is currently focused on the restart of a high-margin operation at its 100% owned Mt Boppy Gold Project located 50km east of Cobar and progressing approvals for its world-class vanadium rich irons sand project located in the Southern Taranaki Bight, New Zealand.
Manuka’s Executive Chairman, Dennis Karp, commented:
“Manuka’s Maiden Silver Ore Reserve and the preparation of an Implementation Plan for Wonawinta represents a major milestone for the Company and supports a potential of restarting silver mining and processing operations in the future. Our process plant at Wonawinta has been kept in excellent condition and on active care & maintenance since the processing of gold from stockpiles hauled from Mt Boppy, ceased in February 2024 and therefore stands ready to come back online at short notice.
The prospect of restarting Wonawinta provides the Company with excellent optionality on silver and the potential to take advantage of the very buoyant precious metals prices and broader strategic opportunities within the Cobar Basin. We look forward to providing further updates to the market as our strategy progresses.
Summary
Wonawinta was built by Cobar Consolidated Resources (“CCR”) in 2011 and acquired by Manuka in 2016. The Project comprises a granted mining lease, existing open pits mines, an existing 1Mtpa CIL process plant and associated infrastructure including approved tailings dams and accommodation facilities (Figures 2 – 4). Whilst limited silver production was undertaken by Manuka in 2022, the Wonawinta plant has primarily, and as recently as December 2023, been used by Manuka to produce gold doré from ore hauled from the Mt Boppy gold mine.
Figure 1: Location of Manuka’s Wonawinta and Mt Boppy Projects within the Cobar basin.
Figure 2: Overview of the Wonawinta Mine Site.
Figure 3: Existing Manuka Open Pit
Figure 4: The existing Wonawinta CIL Processing Plant
The current Implementation Plan proposes the mining and processing of 4.8Mt of Ore at a grade of 54g/t Ag over 4.5 years for the recovery of 5.8Moz of silver. Capital Costs for taking the mine out of care & maintenance and recommence production are estimated to be A$3.7M plus A$12.4M in pre-strip mining. Based on the current silver forward curve and an All-In Sustaining Cost of A$40.51/oz, the mine plan would deliver operating cash flows of ~A$100M based on the Ore Reserve alone.
As the price and demand outlook for silver continues to develop, Manuka will continue to refine its economic model for the Project and look to further optimise the mining schedule and reduce pre-production mining costs ahead of a decision to commence the restart of operations.
Click here for the full ASX Release
This article includes content from Manuka Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Newmont Suriname Awarded U.S. Secretary of State's Award for Corporate Excellence
Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) today announces its operations in Suriname has been awarded with the United States of America Secretary of State's Award for Corporate Excellence in the Climate Resilience category. This recognition, highlights Newmont's pivotal role in advancing Suriname's economic development and the company's commitment to sustainability and corporate responsibility.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241028794086/en/
"Newmont is honored to receive this prestigious award. It is a testament to our commitment to creating value and improving lives through responsible and sustainable mining," said Tom Palmer, CEO and President of Newmont. "Since we began operations in Suriname, we recognized the critical needs of local communities, especially with regard to infrastructure and economic opportunities that have been impacted by climate change.
"Over the years, we have built programs in collaboration with our community partners to support existing businesses and to generate new opportunities that benefit from Newmont's value chain. This includes working closely with Artisanal Small-Scale Miners on their land reclamation efforts and offering capacity-building programs and financial assistance to develop a new pipeline of small business opportunities.
"As a 103-year-old US-based company, we are proud to demonstrate our commitment to the highest ethical and environmental standards, and to the long-term advancement of Suriname and its people," he added.
Newmont is deeply committed to supporting and advancing Suriname's green development goals. We will continue to enhance our impact in this area by working closely with our stakeholders. Over the years, our unwavering dedication to this purpose has consistently driven socio-economic development in the communities we serve.
Newmont fosters economic growth by empowering local communities through talent development, local procurement, and capacity-building initiatives. In collaboration with our community partners, Newmont has created programs to support local businesses and generate new opportunities from our value chain. This includes working closely with Artisanal Small-Scale Miners on land reclamation efforts and providing capacity-building programs and financial assistance to develop new opportunities for small local businesses.
Established in 1999, the United States of America Secretary of State's Award for Corporate Excellence recognizes the crucial role U.S. companies play in elevating higher standards of business conduct. More information can be found here .
About Newmont
Newmont is the world's leading gold company and producer of copper, zinc, lead, and silver. The company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. 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. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the company has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont's sustainability strategy and initiatives, go to www.newmont.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20241028794086/en/
Media Contact:
Jennifer Pakradooni
globalcommunications@newmont.com
Investor Contact:
Neil Backhouse
investor.relations@newmont.com
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