Partial Underground Operations at Newmont Goldcorp’s Red Lake Mine to Safely Resume by Tuesday
DENVER--(BUSINESS WIRE)--Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont Goldcorp or the Company) today reported that partial underground operations at the Company’s Red Lake mine in Ontario, Canada will safely resume by Tuesday, July 9. Underground mining was proactively paused on July 3 to allow for the installation of additional controls to further protect workers in the event water entered the mine through an historic stope at the Cochenour complex which is part of Red Lake. Processing and other surface operations at the mine have continued uninterrupted and underground workers were temporarily reassigned to jobs at the mill and other surface facilities.
The temporary pause in underground mining was proactively implemented following an in-depth review of an historic stope at Cochenour. Although there were no known changes to conditions at the mine, the decision to temporarily pause underground operations was taken to strengthen controls protecting the safety of Red Lake’s workforce.
The Red Lake mining district is located 180 kilometres north of Dryden, approximately 100 kilometres from the Manitoba border in northwestern Ontario. Mining operations include the Red Lake and Campbell underground mining and processing complexes, as well as Cochenour. The Red Lake mining district has been in operation since 1949.
About Newmont Goldcorp
Newmont Goldcorp 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 Goldcorp 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 proficiency. Newmont Goldcorp was founded in 1921 and has been publicly traded since 1925.
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Forward-looking statements may include statements relating to future underground operations and timing at Red Lake. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation 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. Risks may include, but are not limited to, accidents, hazards and uncertainties associated with mining and other factors disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 under the heading “Risk Factors” filed with the U.S. Securities and Exchange Commission (the “SEC”) and the Company’s recent SEC filings, available on the SEC website or www.newmontgoldcorp.com, as well as the Company’s most recent filings made with Canadian securities regulatory authorities and available on SEDAR. 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. Investors should not assume that any lack of update to a previously issued “forward-looking statement” constitutes a reaffirmation of that statement. Continued reliance on “forward-looking statements” is at investors’ own risk.