Newmont and JV Partners Achieve Key Integration Milestone At Agua Rica And Alumbrera

Rhea-AI Summary

Newmont Corporation (NYSE: NEM, TSX: NGT) has successfully integrated the Alumbrera mine and infrastructure with Yamana Gold's Agua Rica project, creating the MARA project. This integration finalizes a joint venture where Newmont holds 18.75%, Glencore 25%, and Yamana 56.25%. President and CEO Tom Palmer highlighted that this partnership enhances the sustainability of both sites. The Agua Rica project will leverage Alumbrera's existing infrastructure to process ore, unlocking significant value and contributing to Newmont's world-class portfolio.

Positive

• Successful integration of Alumbrera mine with Agua Rica project enhances sustainability.
• Unlocks significant value by leveraging existing infrastructure from Alumbrera for processing.

Negative

• None.

Newmont Corporation (NYSE: NEM, TSX: NGT) and its joint venture partners announced the successful integration of the Alumbrera mine, plant and infrastructure with Yamana Gold’s Agua Rica project to create the integrated MARA project. The integration of these two assets finalizes the joint venture between Newmont (18.75%), Glencore International AG (25%) and Yamana Gold (56.25%).

“I am pleased to see this partnership complete the integration of the projects. Joining the Agua Rica ore body with the high-quality infrastructure from Alumbrera will ensure the sustainability of both sites’ resources,” said Newmont’s President and CEO Tom Palmer. “Newmont looks forward to the MARA project adding value to our world-class portfolio.”

Under the MARA Project, Agua Rica will be developed and operated using the existing infrastructure and facilities from the Alumbrera mine, approximately 35 kilometers away. The integration unlocks significant value by leveraging Alumbrera’s infrastructure including the plant, tailings storage facility, pipeline and other infrastructure to be used for processing ore from Agua Rica.

About Newmont

Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.

At Newmont, our Purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Musselwhite mine visit www.newmont.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201218005098/en/

FAQ

What is the MARA project involving Newmont (NEM) and Yamana Gold?

The MARA project is the successful integration of the Alumbrera mine with Yamana Gold’s Agua Rica project, finalizing a joint venture.

What are the ownership stakes in the MARA project?

Newmont holds 18.75%, Glencore International AG holds 25%, and Yamana Gold owns 56.25% of the MARA project.

How does the MARA project add value to Newmont (NEM)?

The integration leverages Alumbrera’s existing infrastructure for processing ore, enhancing resource sustainability and contributing to Newmont’s portfolio.