Construction Progresses On Two New Nevada Mines

 

DENVER, CO - Gary Goldberg, President and Chief Executive Officer OF Newmont Mining Corporation said, “Consistently strong operational performance has given us the means to strengthen our portfolio and balance sheet, and position the company to continue outperforming. Newmont progressed construction of two new mines, and are now building three higher margin expansion projects including Northwest Exodus – on time and at or below budget.” Attributable gold production is expected to increase from between 4.7 and 5.0 million ounces in 2016 to between 4.9 and 5.4 million ounces in 2017, and remain stable at between 4.5 and 5.0 million ounces through 2020. New production at CC&V, Long Canyon Phase 1, Northwest Exodus, Tanami and Merian is expected to offset the impacts of maturing operations at Yanacocha and the sale of Batu Hijau. Projects that are not yet approved, including Ahafo Mill Expansion and Subika Underground, represent production upside of between 200,000 and 300,000 ounces of gold beginning in 2018. Attributable copper production is expected to be between 40,000 and 60,000 tonnes in 2016 and between 40,000 and 65,000 tonnes in 2017 and 2018, with stable production expected at Phoenix Copper Leach and Boddington.

“We’re honored that our economic, environmental and social performance was recognized as the best in the mining sector by the Dow Jones Sustainability World Index for the second year running. This performance reflects our team’s deep commitment to sustainability and continuous improvement. Our focus on creating value and improving lives through sustainable and responsible mining translates into safe working conditions and good jobs for employees; sustainable economic development for our host communities; and strong returns and prospects for our shareholders and other stakeholders,” Goldberg said.

Also, the State of Nevada (acting through the Department of Wildlife (NDOW) and the Department of Conservation and Natural Resources (NDCNR)) and the U.S. Department of the Interior (acting through the Fish and Wildlife Service (FWS) and the Bureau of Land Management (BLM)) reported an agreement with Newmont Mining Corporation on a sagebrush ecosystem conservation program that will guide management of more than 1.5 million acres of habitat in Nevada. A first of its kind in the United States for its scope and scale, the agreement establishes a mutually-agreed upon framework governing Newmont’s management of sagebrush habitat under the company’s stewardship. The company also may partner with the BLM to implement sagebrush ecosystem enhancement measures on BLM-managed public lands in Nevada. 

“Through this historic agreement, Newmont has committed to implementing a wide-ranging, landscape-level conservation plan that includes voluntarily managing certain of its private rangelands and ranches in Nevada to achieve net conservation gains for sagebrush species,” said Nevada Governor Brian Sandoval. “This good-faith, public-private partnership represents a significant and meaningful achievement in the cause of sagebrush habitat and species protection in the western United States. As the owner of private lands and a steward of a significant amount of BLM-managed public lands in Nevada, Newmont is uniquely positioned to work in concert with the BLM and the State of Nevada to advance and test land and habitat management techniques that will inform conservation practices going forward,” said BLM Nevada State Director John Ruhs.”

“Newmont looks forward to embracing this historic opportunity and building upon our 50 years of responsible mining and environmental stewardship in Nevada,” said Dr. Elaine Dorward-King, Newmont’s Executive Vice President for Sustainability and External Relations. “We appreciate the good-faith demonstrated by all the parties involved to achieve this historic agreement which will advance sagebrush habitat management in Nevada while supporting continued sustainable mining practices over the long term.”