Building a sustainable mining business depends on our ability to develop new mining opportunities from concept through commercial production. Newmont’s robust organic growth project pipeline will be advanced by the Global Project team who manages the studies from concept to execution to ensure safe, on time, on budget project delivery into commercial production in partnership with our operating regions and our functions. Our Investment System requirements ensure rigorous capital discipline, which will inform the Combined Portfolio Optimization Strategy.
- New mine opportunity from the best unmined deposit in West Africa and entry to the next generation of profitable production in the existing Ghana District.
- Open pit mining with standalone mill for processing 3.8 Moz of reserves and 1.4 Moz of measured, indicated and inferred resources; the project consists of seven mineralized areas which remain open in all directions along a 14 km strike with significant upside potential.
- 13-year mine life with ~300 Koz of average annual production over the first five years (2026–2030).
- Creating lasting value through local sourcing and hiring; targeting gender parity at startup.
- Mine development of four new open pits, new tailings storage facility, resettlement and relocation, highway diversion, new processing facility.
Tanami Expansion 2
- Secures Tanami’s future as a long-life, low-cost producer by extending mine life beyond 2040 and providing a platform for future exploration growth. The ore body remains open at depth.
- Alleviation of truck hauling constraints to enable more efficient mining of deeper ounces.
- Enables future processing of ~3.3 Mt of ore per year.
- Annual production increase of 150 Koz – 200 Koz for the first five full years.
- Supports Tanami’s future as a long-life, low-cost producer and unlocks operational bottlenecks.
- Addition of a 1,460 meter hoisting shaft, underground conveyor system, crusher and other supporting infrastructure to process 3.3 million tonnes per year. (Supporting infrastructure includes batch plant, water treatment plants, refrigeration plant, bulk air cooler and water treatment ponds.)
- Underground mine development.
- Camp expansion.
- Extends the current mine life until 2035 providing additional time for exploration and operational improvement at Porcupine.
- The project will optimize mill capacity, adding volume and supporting high grade ore from Borden and Hoyle Pond.
- Construction of Effluent Treatment Plant (ETP) that will enable the dewatering of the existing Pamour pit, which was intermittently mined since the 1930s and ceased in 2008. Since 2008, the pit was allowed to fill with water.
- An open pit mine layback at the existing Pamour open pit and an expansion of the No. 6 Tailings Management Area.
Cerro Negro Expansion 1
- Simultaneous development of the Marianas and Eastern Districts to extend the mine life of Cerro Negro beyond 2030.
- The project is expected to improve production and provides a platform for further exploration and future growth through additional expansions.
- In the third quarter of 2023, Newmont declared commercial production at San Marcos, which is the first of six ore bodies associated with the expansion project.
- Underground mine development, new tailings storage facility, supporting ventilation and underground infrastructure.
- Galore Creek is one of the world’s largest undeveloped copper-gold-silver deposits, providing Newmont with significant exposure to copper in a politically safe and stable jurisdiction.
- JV holds a significant land package with substantial upside potential.
- It is a joint venture project between Teck Resources Limited and Newmont.
- Advancing the Pre-feasibility Study with a commitment to improve project economics and advancing the asset towards development.
- Greenfield mine development including access roads, power, water treatment.
- Norte Abierto is one of the world’s largest undeveloped gold-copper deposits. The project is a 50/50 joint venture between Barrick and Newmont.
- Cerro Casale has an approved permit through the environmental impact assessment (EIA).
- Greenfield mining operation including mine development, power, water treatment, camp, etc.
Midnite Mine Closure
- Honoring our commitment to properly close, revegetate legacy mines, and promote environmental justice.
- Dawn Mining Company produced uranium at the Midnite mine from 1954 to 1981. Mining ceased when it became uneconomic to continue and Midnite mine’s shareholders liquidated the company, leaving Newmont as the sole owner of Dawn Mining Company.
- Newmont collaborated with the Environmental Protection Agency (EPA) to align on a Remedial Action Plan; remediation activities commenced in 2016 and will continue through 2032.
- Construction of Water Treatment Plant to treat and discharge surface water.
- Lining and backfilling the open pits.
- Revegetate the mining area with natural grasses, wildflowers and trees.
- Nueva Unión is one of the world’s largest undeveloped gold-copper deposits. The project is a 50/50 joint venture between Teck and Newmont.
- Current work is focused on establishing a cost-effective path forward for the development of this world-class resource in a manner acceptable to communities of interest, key stakeholders and the regulators.
- Greenfield mining operation including mine development, power, water treatment, camp, etc.
Hotham Wind Farm
- Newmont believes we must continue to address the challenges of climate change without delay by implementing our Energy and Climate strategy; the Hotham Wind Farm project is the first step towards delivering on our 2030 decarbonization commitments.
- Potential emissions reduction of 0.900 Mt CO2e.
- We are currently evaluating third-party collaborations for development with the costs for the project being part of a Power Purchase Agreement (PPA).
- Development of a renewable power source for Boddington; wind farm.
- Operated under a JV agreement with Greatland Gold Plc. Under the agreement, the Company can earn up to a 70 percent interest through total expenditure of $65 million and the completion of a series of exploration and development milestones across a four-stage farm-in, over a six-year period that commenced in May 2019.
- May acquire an additional 5 percent interest at the end of the farm-in period at fair market value. The farm-in agreement includes tolling principles reflecting the intention of the parties, subject to a successful exploration program and Feasibility Study.
- In November 2020, entered into a fully termed JV agreement with Greatland Gold, which provides a formal framework between the two parties beyond the existing farm-in agreement.
- Has now met the Stage 3 expenditure requirements ($45 million) and is entitled to earn an additional 20 percent joint venture interest, resulting in an overall joint venture interest of 60 percent.
- In December 2020, an initial Inferred Mineral Resource estimate for the Havieron Project of 3.4 Moz of gold and 160 Kt of copper1 was announced.
- Outside of the estimated Inferred Mineral Resource, mineralization remains open with results indicating the possibility that the resource could grow over time with additional planned drilling activity.
- The necessary regulatory approvals have been received to commence key early work activities at the Havieron Project.
- The early works program includes construction of a box cut, exploration decline and supporting surface infrastructure. The commencement of these activities advances the potential of realizing commercial production from the project within the next three years.
- Joint venture ore will be processed at Telfer; the Paterson Province presents significant additional opportunities for Telfer in the future.
1 The Inferred Mineral Resource estimate is presented on a 100 percent basis. As announced on 30 November 2020, Newmont (formerly Newcrest) has now met the Stage 3 expenditure requirement ($45 million) and is entitled to earn an additional 20 percent joint venture interest, resulting in an overall joint venture interest of 60 percent (Greatland Gold 40 percent).
- Newmont and Harmony Gold Mining Company Limited (Harmony) each currently own 50 percent of the Wafi-Golpu Project through the Wafi-Golpu Joint Venture (WGJV).
- The WGJV has applied for a Special Mining Lease for the Wafi-Golpu Project and has submitted an Environmental Impact Statement to the PNG government that is undergoing a regulatory review process.
- Deep drilling has identified a world-class copper-gold porphyry deposit at Wafi-Golpu (the Golpu deposit) suited to bulk underground mining techniques.
- Includes the Golpu copper-gold porphyry deposit, the Nambonga copper-gold porphyry deposit and the Wafi high sulfidation epithermal gold deposit.
- Exploration activity to date shows that the Wafi-Golpu tenements host one of the highest-grade porphyry copper systems in southeast Asia (the Golpu deposit).
- Wafi-Golpu project adds gold and copper optionality with several of the best copper-gold porphyry intersections in the world.
- Potential to make a significant economic, environmentally responsible and social contribution to Papua New Guinea over a long period.
- The WGJV Environmental Impact Statement details the potential social, cultural and environmental impacts of developing and operating the Wafi-Golpu Project, together with proposed management and mitigation planning. The Environmental Impact Statement can be found on the WGJV web page.
*The figures represent Newmont’s (formerly Newcrest) 50 percent share of the Mineral Resource (inclusive of Golpu, Wafi and Nambonga deposits) and Ore Reserve (Golpu).