Member access

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

Delayed Quote. Delayed Nyse - 05/22 04:02:22 pm
27.01 USD   +0.04%
05/15DJSouthern Copper Temporarily Suspends Copper Mine Project Amid Pro..
05/05 KINROSS KEEN ON : Ceo
05/05DJProtests in Peru Against Copper Mine Project Leaves One Dead
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
05/15DJSouthern Copper Temporarily Suspends Copper Mine Project Amid Protests -- Upd..
05/07 NEWMONT MINING : Signs Agreement to Sell Waihi Operations in New Zealand
05/05 KINROSS KEEN ON M&A BUT WILL TAKE A : Ceo
05/05DJProtests in Peru Against Copper Mine Project Leaves One Dead
05/04 NEWMONT MINING : Enters into Pact to Sell Waihi Operations in New Zealand
05/01 OCEANAGOLD : Signs Letter of Intent with Newmont Mining to Acquire Waihi Gold Mi..
04/29DJOCEANAGOLD : Waihi Gold Mine to Cost US$101 Million in Cash Plus Adjustments
04/29 NEWMONT MINING : Signs Agreement to Sell Waihi Operations in New Zealand
04/27DJBarrick Gold Reports Lower-Than-Expected Quarterly Earnings
04/24 NEWMONT MINING : earnings are 50 pct higher in Q1
Advertisement
Chart
Duration : Period :
Newmont Mining Corp Technical Analysis Chart | NEM | US6516391066 | 4-Traders
Income Statement Evolution
More Financials