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Responsible mining practices recognized at Australia's largest underground mine
Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) today announces its Cadia operation in Orange, NSW (Australia) has achieved The Copper Mark and The Molybdenum Mark following an independent assessment, recognising responsible production practices at Australia's largest underground mine.
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Cadia operations, Orange, New South Wales, Australia. (Photo: Business Wire)
Cadia is Newmont's first site globally to receive the award after successfully meeting more than 30 criteria needed in critical areas including environment, community, human rights and governance, amongst others.
Newmont's Cadia mine is the nation's second largest copper producer and the third site in Australia to receive The Copper Mark. Cadia is the only operating mine producing molybdenum in Australia and thus the only mine to receive The Molybdenum Mark, a critical mineral used in industry and defense.
Newmont Chief Safety and Sustainability Officer Suzy Retallack said, "Meeting growing global demand for copper brings an obligation to sustainability and responsible mining which prioritises environmental stewardship, social responsibility and economic development for the communities in which we operate."
"We take great pride in being at the forefront of the copper industry with The Copper Mark, which highlights our dedication to responsible production and transparency," she said.
"This means our global customers can now choose to source copper concentrate from an independently evaluated mine that meets the highest standards in environmental, social, and governance practices, responding to the increasing demand for sustainable supply chains."
In 2020, Cadia entered into a 15-year renewable Power Purchase Agreement (PPA) with Tilt Renewables Limited to buy 55% of the wind farm's output. Now fully operational, Rye Park is supplying approximately half of Cadia's power needs.
"Cadia's commitment to the community supported an investment of almost $6 million AUS in the 18 months to December 2023 to support community projects, education and infrastructure," Retallack said.
The Copper Mark's Executive Director Michèle Brülhart said, "Congratulations to the team of Cadia for being the third site in Australia to achieve The Copper Mark and the first site to get The Molybdenum Mark. With this, about 35% of Australia's copper is produced at sites that have obtained The Copper Mark."
The Copper Mark is the leading assurance framework to promote responsible, sustainable and ethical practices across the copper, molybdenum, nickel and zinc value chains.
Cadia is located approximately 16 miles (25 kilometres) south-southwest of Orange in Central West New South Wales (NSW) and 250 kilometres west of Sydney, and comprises the Cadia East underground mine, which is one of the largest gold and copper deposits in the world, and Ridgeway Underground Mine, currently in care and maintenance.
About Newmont
Newmont is the world's leading gold company and a 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 Australia, Africa, 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/20241027446724/en/
Media Contact
Rosalie Cobai
australiacommunications@newmont.com
Investor Contact – Asia Pacific
Natalie Worley
apac.investor.relations@newmont.com
Investor Contact – Global
Neil Backhouse
investor.relations@newmont.com
Figure 1 – Location of Flynn Gold tenements in NE Tasmania.
Figure 1. (a) Oxide, transitional and primary (fresh) resource estimation for the Tartana open pit using inverse distance estimation and a 0.2% Cu cutoff grade. (b) Primary copper mineralisation from drillhole D15.
Figure 2. Transition and primary resources at different cut-off grades (Reported 9th February 2023)
Figure 3. Drilling of DD15 in May 2024.
