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Newmont Goldcorp resuming production at Peñasquito in Mexico

Newmont Goldcorp targeting imminent full production at Peñasquito gold mine in Mexico

Newmont Goldcorp has announced ithas safely started up production at the Peñasquito mine in Mexico following the lifting of the illegal blockade on October 8.

With the support of the State and Federal governments, including an ongoing police presence, the company has commenced an approximately 10-day process of bringing back the operation to full production.

“We appreciate the government’s efforts to uphold the law by assuring ongoing access to and from Peñasquito while continuing to sponsor the dialogue process, should that continue to be needed,” said Tom Palmer, President and Chief Executive Officer.

“Our focus is on ensuring a safe start up of operations so our workforce can return to their jobs in an orderly manner.”

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Peñasquito has enhanced water availability for the mine’s 25 neighboring communities through a number of projects including water treatment plants, new wells, pipelines and water trucks, along with 90 other infrastructure and community development projects. 

This includes installing and operating a Reverse Osmosis water treatment plant in the Cedros community in 2018 with a capacity of 600,000 litres of drinking water per day.

Peñasquito directly employs more than 6,500 people while supporting another 20,000 indirect jobs in the region. Since 2005, the Company has invested approximately $5bn in Peñasquito.

The open-pit mine produced 272,000 ounces of gold last year, accounting for about 17% of the combined company’s net asset value and 4.2% of the Newmont Goldcorp’s total projected 2019 gold output of 6.5 million ounces.

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