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Newmont Corporation NEM

Alternate Symbol(s):  T.NGT

Newmont Corporation is a gold company and producer of copper, zinc, lead, and silver. Its portfolio of assets, prospects is anchored in mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Its African operations is Ahafo. Its Australian operations include Boddington, Cadia, Tanami and Telfer. Its Latin America and Caribbean (LATAC) operations include Cerro Negro, Merian, Penasquito, Pueblo Viejo JV and Yanacocha. Its North American projects include Brucejack, Cripple Creek & Victor, Eleonore, Musselwhite, Nevada Gold Mines JV, Porcupine and Red Chris. Its Papua New Guinea projects include Lihir. Its Ahafo mine is in the Ahafo region, approximately 290 kilometers (km) northwest of Accra, the national capital city. The Boddington mine operates within the Saddleback greenstone belt in Western Australia. Boddington is located 16 km from the rural farming town of Boddington and 130 km from Western Australia’s capital city, Perth.


NYSE:NEM - Post by User

Post by MaterialsManon May 26, 2024 8:15am
247 Views
Post# 36057806

Pig in a poke

Pig in a pokeWas curious about what might be the cause of the devastating lanslides in Papua NewGuina. Hundreds have been reported dead. The area is very remote So news is sparse.
Gold mining is said to be a potential suspect.
The report I read named two mines specifically. Porgera (Barrick), and Lihir (NEM).
The lanslides that are currently in the news are in Enga. This is nearby to where Barrick has recently begun a restart of the Tier One Porgera Mine.
I haven't seen reports of any suspected links to Lihir as causing any problems other than it was named in the article.
There is a large number of gold mines operated in PNG. It is often typical of news agencies to associate the names of well known corporations with incidents of this type.
Situation may bear watching. I certainly hope that this potential issue wasn't overlooked in the Newcrest deal.
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