DENVER--(BUSINESS WIRE)-- Today, Newmont Corporation (NYSE:NEM, TSX:NGT) announced that the Governments of Yukon and Canada, after consultation with Yukon First Nations, have jointly accepted the recommendation the Coffee Gold Project be allowed to proceed by the Yukon Environmental Socioeconomic Assessment Board’s (YESAB).
“Newmont is pleased that the Federal and Territorial Governments and our First Nations partners recognize the significant benefits of the Coffee Gold Project and Newmont’s commitment to delivering our purpose to create value through sustainable and responsible mining,” said Mark Rodgers, Regional Senior Vice President, Newmont North America. “The decision to approve the Coffee Gold Project provides much-needed certainty about the future of the project and the development of this strategic asset. We look forward to continued engagement with Government and Yukon First Nations.”
Earlier in 2022, YESAB recommended to the Territorial and Federal Governments that the project be allowed to proceed, with the recommendation being recently accepted. YESAB, in their role as an independent body, is tasked with the assessment responsibilities of the Yukon Environmental and Socio-economic Assessment Act (YESAA) legislation and regulations.
“We are very pleased to reach a decision that will allow the Coffee Gold Project to move forward,” said Yukon Premier Sandy Silver. “This is another example of the effectiveness of the Yukon’s environmental and social-economic assessment process that continues to uphold responsible development in the territory. The Coffee Gold Project will provide significant employment opportunities for many Yukoners and contribute to the territory’s growing economy. Through our ongoing engagement with Yukon First Nations and our collaboration with the Government of Canada, we look forward to supporting the next stages in the development of the Coffee Gold project.”
Newmont’s Coffee Gold Project is a proposed open-pit and heap leach gold development project located in west-central Yukon. During the peak of construction, the proposed project is estimated to provide nearly 700 jobs for Yukoners. Newmont has a long track record of working collaboratively with governments and First Nations to responsibly develop mineral projects in Canada. We will continue to implement best practices and work cooperatively with the Yukon Government, Canada, and First Nations to progress development of the Coffee Gold Project.