Newmont’s leading project pipeline and track record of successful execution has continued in 2019 with four profitable projects on four continents achieving commercial production – all on schedule and within budget.
Most recently, the Quecher Main Project in Peru achieved commercial production safely, ahead of schedule and under budget on October 31. Quecher Main extends the life of the Yanacocha operation to 2027 and is expected to generate an internal rate of return of approximately 15 percent at a $1,200 gold price.
Earlier in October, the Ahafo Mill Expansion in Ghana achieved commercial production on schedule and within budget. Benefits of the mill expansion include adding annual gold production of 75,000 to 100,000 ounces per year for the first five full years beginning in 2020 and supporting the development of Ahafo’s highly prospective underground reserves.
In September, Newmont’s Borden mine in Canada – featuring state-of-the-art health and safety controls, digital mining technologies and processes, and low-carbon-energy vehicles – achieved commercial production safely, on schedule and within budget.
And in March, Newmont’s Tanami Power Project in Australia was completed on schedule and within budget. It is expected to provide the Tanami gold mine with a safe and reliable energy source while lowering power costs and carbon emissions by 20 percent.
Watch this video to see more details on these four projects:
Newmont has the strongest and most sustainable portfolio of operations, projects and exploration prospects in the gold sector. These assets allow the Company to sequence profitable projects in its unmatched pipeline to sustain six to seven million ounces of steady gold production over a decades-long time horizon.
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