Investment reflects focus on long-term value creation
DENVER--(BUSINESS WIRE)--
Newmont
Mining Corporation (NYSE: NEM) (Newmont or the Company) today
announced an agreement to access and explore a highly prospective gold
district in Canada’s Yukon Territory through a private placement with Goldstrike
Resources (Goldstrike). The agreement entitles Newmont to earn up to
80 percent equity in the Plateau property through exploration
investment. The Plateau property is a newly discovered gold system
consisting of more than 2,000 claims covering 350 square kilometers.
Initial drill results are promising and high grade gold mineralization
has been identified over a 50 kilometer strike length.
“The Plateau agreement strengthens our long-term growth pipeline and
leverages our world class exploration capabilities,” said Gary Goldberg,
President and Chief Executive Officer. “We’ve added more than 125
million ounces of gold reserves by the drill bit over the last 16 years
and about three-quarters of our reserves are located in North America
and Australia. We will continue to invest in opportunities that combine
the best value with the most favorable technical and geopolitical
attributes.”
In 2017, Newmont expects to boost its exploration and advanced projects
expenditure by 22 percent, with about two-thirds of that amount going to
fund more brownfields and greenfields exploration.
About Newmont
Newmont is a leading gold and copper producer. The Company’s operations
are primarily in the United States, Australia, Ghana, Peru and Suriname.
Newmont is the only gold producer listed in the S&P 500 Index and was
named the mining industry leader by the Dow Jones Sustainability World
Index in 2015 and 2016. The Company is an industry leader in value
creation, supported by its leading technical, environmental, social and
safety performance. Newmont was founded in 1921 and has been publicly
traded since 1925.
Cautionary Statement Regarding Forward-Looking Statements:
This release contains “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended, which are intended
to be covered by the safe harbor created by such sections and other
applicable laws. Such forward-looking statements may include, without
limitation, estimates and expectations of future pipeline growth and
capabilities, future exploration and related capital expenditures,
prospective mineralization, and future investments and/or related
potential increases in equity ownership in the Plateau property. Drill
results and preliminary grade indications are not necessarily indicative
of future results and remain subject to further exploration. Where the
Company expresses or implies an expectation or belief as to future
events or results, such expectation or belief 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 from future results expressed or
implied by the “forward-looking statements.” For a discussion of such
risks relating to our business and other factors, see the Company’s Form
10-K, filed on or about February 21, 2017, with the Securities and
Exchange Commission (SEC) under the headings “Risk Factors” and
“Forward-Looking Statements.” 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.
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Source: Newmont Mining Corporation