DENVER--(BUSINESS WIRE)--Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or The Company) announced today that the Cedros General Assembly ratified the definitive agreement that was reached on April 22, 2020 and resolved all outstanding disputes between Peñasquito and the San Juan de Cedros community (Cedros).
The agreement was developed with the support of Mexico’s Ministry of Interior (SEGOB), the Government of the State of Zacatecas, the Undersecretary of Mining, and the Mining Union, and was signed by elected representatives of the Cedros community. The Cedros General Assembly was held with consent from the Zacatecas’ Ministry of Health with safety measures and protocols recommended by the Federal Ministry of Health.
“Through the comprehensive application of Newmont’s sustainability practices at Peñasquito, we achieved a significant milestone with the formal ratification of the agreement that was reached earlier this year with the Cedros community,” said Tom Palmer, President and Chief Executive Officer. “Together, with the water plan signed last year, we are pleased to bring months of negotiation with the Cedros community to a close and look forward to sustainably operating in this region for decades to come. It is only through patient and transparent community engagement, combined with strong government support, that we have been able to reach a lasting solution that is beneficial to all stakeholders.”
As previously announced, Peñasquito reached a definitive agreement with the San Juan de Cedros community (one of 25 neighboring communities) in Zacatecas, Mexico on land use, water availability, infrastructure and social investments. This includes access to more than 10,000 hectares of the Cedros ejido´s land for exploration, mineral production and other operational purposes, and resolves all outstanding disputes between the two parties. The agreement expressly states that any future disputes will be resolved through dialogue and free of blockades.
Peñasquito is a world-class asset with over 8 million ounces of gold Reserves and approximately 26 million ounces in gold equivalent ounce Reserves, and the significant exploration potential in this prospective district may allow the Company to extend value delivery for decades to come.
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.
Cautionary Statement
This news release may contain “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. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. Forward-looking statements include our expectations of future prospects and exploration and operating results, as well as expectations regarding future community and stakeholder relations and conflict resolution. For a discussion of risk 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, 2019 filed with the U.S. Securities and Exchange Commission (the “SEC”), under the heading “Risk Factors”, as well as in the Company’s subsequent Quarterly Reports on Form 10-Q, 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.
