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Bullboard - Stock Discussion Forum 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... see more

NYSE:NEM - Post Discussion

Newmont Corporation > Pig in a poke
View:
Post by MaterialsMan on May 26, 2024 8:15am

Pig in a poke

Was 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.
Comment by MaterialsMan on May 29, 2024 6:44am
I read a little futher into the mining practices in New Guinea. Suffice to say that the leaders in the country are not about to kill the cash cow. It's being blamed on the weather. I hope Lihir is less controversial than Porgera.
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