Newmont Goldcorp Ramping Up Work at Peñasquito Mine

Newmont Goldcorp (TSX:NGT,NYSE:NEM) announced that it is ramping up operations at its Mexico-based Peñasquito mine after the removal of an illegal blockade. The company has also established a dialogue with the government in the country.

As quoted in the press release:

Concentrate shipments from the mine, as well as the delivery of supplies to the site, have resumed and workers are going through orientation sessions to ensure production begins in a safe and orderly manner. During the temporary suspension of operations, which began on April 29, the mine used the downtime to bring forward maintenance on a variety of systems and equipment.

Newmont Goldcorp is committed to good-faith dialogue with the trucking company and the San Juan de Cedros community (one of 25 neighboring communities) to achieve a fair and enduring resolution to contract and water availability issues.

The Peñasquito mine produced 272,000 ounces of gold in 2018 and directly employs more than 6,000 people while supporting another 20,000 indirect jobs in the region. Peñasquito has enhanced water availability to neighboring communities through a number of projects including water treatment plants, new wells, pipelines and water trucks.

Click here to read the full Newmont Goldcorp (TSX:NGT,NYSE:NEM) press release.