- Write by:
-
Wednesday, July 6, 2022 - 17:56:05
-
476 Visit
-
Print
Mining News Pro - Newmont, the world’s No. 1 gold miner, has reached a profit-sharing agreement with the workforce at its Peñasquito gold-silver mine in Mexico.
The uncapped profit-sharing bonus of up to 10% is valued at $70 million, the company said.
“We are pleased to have reached this agreement with the National Union of Mining, Metallurgical, Iron and Steel and Similar Workers of the Mexican Republic (…) without interruption to the operation,” Newmont CEO Tom Palmer said in a statement.
The Greenwood Village, Colorado-based miner spent last year building a pipeline of new exploration targets at Peñasquito, where just 20% of the 650km2 property has been drilled.
The gold miner expects to extend the operation’s productive life beyond 2040.
Peñasquito, located in Mexico’s Zacatecas state, is forecast to produce 475,000 ounces of gold this year.
The open pit mine is the world’s fifth largest silver mine and Mexico’s second biggest.
Short Link:
https://www.miningnews.ir/En/News/621696
Canadian miner Barrick Gold on Wednesday beat first-quarter profit estimates on higher bullion prices and said it has ...
Barrick Gold faced criticism outside its annual general meeting on Tuesday in Toronto for supporting Malian rulers with ...
BHP Group can’t cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, ...
Gold wavered as traders looked ahead to a week with a Federal Reserve rate decision meeting and key US jobs data.
Marex Group Plc and a group of the London-based firm’s shareholders raised about $292 million in a US initial public ...
Newmont Corp beat Wall Street estimates for first-quarter profit on Thursday, as the world’s largest gold miner ...
India is in talks with several countries seeking partnerships for technical help on lithium processing, said four ...
China’s Zhaojin Mining Industry said on Wednesday that its A$733 million ($477.8 million) offer to buy Australia’s ...
Toronto-listed miner OceanaGold Corp said on Wednesday it will raise 6.08 billion pesos ($106 million) through an ...
No comments have been posted yet ...