An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Newmont Coffee Gold Project Approved by Federal and Territorial Governments
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Newmont Corporation (NYSE:NEM) has received approval from the Yukon and Canadian governments, after consultations with Yukon First Nations, to proceed with the Coffee Gold Project. This decision follows a recommendation from the Yukon Environmental Socioeconomic Assessment Board. The project is expected to generate nearly 700 jobs during peak construction and is positioned as a significant asset for the region's economic development. Newmont emphasizes its commitment to responsible mining and collaboration with local stakeholders throughout the project's advancement.
Positive
Approval granted for the Coffee Gold Project, providing certainty for future development.
Estimated to create nearly 700 jobs during peak construction, boosting local economy.
Demonstrates effective collaboration with Yukon First Nations and government agencies.
Negative
None.
DENVER--(BUSINESS WIRE)--
Today, Newmont Corporation (NYSE:NEM, TSX:NGT) announced that the Governments of Yukon and Canada, after consultation with Yukon First Nations, have jointly accepted the recommendation the Coffee Gold Project be allowed to proceed by the Yukon Environmental Socioeconomic Assessment Board’s (YESAB).
“Newmont is pleased that the Federal and Territorial Governments and our First Nations partners recognize the significant benefits of the Coffee Gold Project and Newmont’s commitment to delivering our purpose to create value through sustainable and responsible mining,” said Mark Rodgers, Regional Senior Vice President, Newmont North America. “The decision to approve the Coffee Gold Project provides much-needed certainty about the future of the project and the development of this strategic asset. We look forward to continued engagement with Government and Yukon First Nations.”
Earlier in 2022, YESAB recommended to the Territorial and Federal Governments that the project be allowed to proceed, with the recommendation being recently accepted. YESAB, in their role as an independent body, is tasked with the assessment responsibilities of the Yukon Environmental and Socio-economic Assessment Act (YESAA) legislation and regulations.
“We are very pleased to reach a decision that will allow the Coffee Gold Project to move forward,” said Yukon Premier Sandy Silver. “This is another example of the effectiveness of the Yukon’s environmental and social-economic assessment process that continues to uphold responsible development in the territory. The Coffee Gold Project will provide significant employment opportunities for many Yukoners and contribute to the territory’s growing economy. Through our ongoing engagement with Yukon First Nations and our collaboration with the Government of Canada, we look forward to supporting the next stages in the development of the Coffee Gold project.”
The Coffee Gold Project is a proposed open-pit and heap leach gold mine located in west-central Yukon, approximately 100 km east of Beaver Creek. During the peak of construction, the proposed project is estimated to provide nearly 700 jobs for Yukoners. Newmont has a long track record of working collaboratively with governments and First Nations to responsibly develop mineral projects in Canada. We will continue to implement best practices and work cooperatively with the Yukon Government, Canada, and First Nations to progress development of the Coffee Gold Project.
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 Newmont’s sustainability strategy and initiatives, visit our annual Sustainability Report at www.newmont.com.
Cautionary Statement:
This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. Forward-looking statements often address our expected future performance, including in relation to project development, and often contain words such as “anticipate,” “intend,” “plan,” “propose.” “will,” “would,” and “expect.” Forward-looking statements in this news release include expectations regarding the Coffee Gold Project, including, without limitation, future development and stage advancement, expectation regarding future opportunities, expectations regarding future processes and practices. Expectations of future events are based upon certain assumptions, which may prove to be incorrect, and remain subject to risks, which could cause actual results to differ materially. For a discussion of risks and other factors that might impact future looking statements, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the U.S. Securities and Exchange Commission (the “SEC”), under the heading “Risk Factors", available on the SEC website or www.newmont.com. The Company does not undertake any obligation to release publicly revisions to any “forward-looking statement,” including, without limitation, outlook, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued “forward-looking statement” constitutes a reaffirmation of that statement.
What is the Coffee Gold Project approved by Newmont (NYSE:NEM)?
The Coffee Gold Project is a proposed open-pit and heap leach gold mine located in west-central Yukon, approved to proceed by the Yukon Environmental Socioeconomic Assessment Board.
When was the Coffee Gold Project's approval announced by Newmont (NYSE:NEM)?
The approval for the Coffee Gold Project was announced on the date of the press release, which is undisclosed in the provided information.
How many jobs will the Coffee Gold Project create?
The Coffee Gold Project is expected to create nearly 700 jobs during peak construction.
What role do Yukon First Nations play in the Coffee Gold Project?
Yukon First Nations have been consulted and are recognized as partners in the development of the Coffee Gold Project.
What benefits does Newmont (NYSE:NEM) claim for the Coffee Gold Project?
Newmont claims significant benefits include job creation and contributions to the local economy through sustainable mining practices.
