Goings on elsewhere I don't follow Newmont so I don't know how this new project fits in with the referenced Ahafo South. Regardless, capex of $3/4 Billion plus for 3 million ounces over 13 years has gotta cast a favourable light on some Canadian names, including Sabina.
- The board of directors of Newmont Corporation (NYSE:NEM) has approved advancing the Ahafo North Project into the execution phase.
- Projected capital costs are estimated to be between $750M to $850M with construction expected to be complete in the second half of 2023 and expected to deliver more than a 30% internal rate of return (IRR).
- “I am pleased to announce the approval of full funding for the Ahafo North Project, expanding our existing footprint in Ghana and adding more than three million ounces of gold production over an initial 13-year mine life,” said Newmont President and CEO, Tom Palmer. “The development of this prolific ore body will leverage our proven operating model and will be supported by our existing world-class Ahafo South operation. The project will be developed and operated in a sustainable and responsible manner to create value for all our stakeholders.”