Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Newmont Mining Corp    NEM   US6516391066

Delayed Quote. Delayed Nyse - 04/17 04:00:30 pm
23.57 USD   -0.21%
04/17DJPeru Government Backs Stalled Mining Project
04/13 Rye Patch Hires Lincoln Hill Project Team
04/12 AngloGold in talks to sell part, all of U.S. mine
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Newmont Mining Corp : Newmont's New Zealand Operation Gets Go Ahead for US$200 Million Mine

05/06/2013 | 05:34pm US/Eastern
   By Lucy Craymer 
 

WELLINGTON, New Zealand--Newmont Waihi Gold Ltd., part of Newmont Mining Corp. (NEM), has been given permission to mine gold and silver below a residential area on the east coast of New Zealand's North Island, a company spokesman confirmed Tuesday.

The company spokesman said the company had been granted permission Monday for the Correnso underground mine in Waihi East, valued at 200 million U.S. dollars.

According to the company an area between 130 meters and 350 meters below the surface will be mined for ore. Construction of the mine is expected to start in mid-2013 and it could operate until the end of 2020.

Newmont produces on average around 100,000 ounces of gold and around 750,000 ounces of silver annually in the Waihi area. Last year, Newmont Mining Corp. announced plans to cut about 20 jobs and scale back its New Zealand exploration program due to rising costs and weak commodity prices but has continued to move ahead with the Correnso project.

The Denver, Colo.-based company produced 5.0 million ounces of gold and 143 million pounds of copper in total in 2012. Aside from New Zealand, the company has operations in the U.S., Australia and Indonesia as well as other countries.

-Write to Lucy Craymer at lucy.craymer@wsj.com

React to this article
Latest news on NEWMONT MINING CORP
04/17DJPeru Government Backs Stalled Mining Project
04/13 Rye Patch Hires Lincoln Hill Project Team
04/12 AngloGold in talks to sell part, all of U.S. mine
04/12 NEWMONT MINING : Releases 2014 Sustainability Report
04/12 NEWMONT MINING : Reports 2014 Sustainability Report
04/10 NEWMONT MINING : DE/ : Other Events (form 8-K)
04/10DJInvestors Advised to Vote Against Barrick Gold Chairman's Pay
04/10DJJOHN THORNTON : Shareholder Adviser Tells Investors to Vote Against Barrick Gold..
04/09 NEWMONT MINING : Issues 2014 Sustainability Report
04/09 NEWMONT MINING : Posts 2014 Sustainability Report
Advertisement
Chart
Duration : Period :
Newmont Mining Corp Technical Analysis Chart | NEM | US6516391066 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF