Daily CSR
Daily CSR

Daily CSR
Daily news about corporate social responsibility, ethics and sustainability

Sustainability Is Complemented By Profitability At Newmont’s Expansion Project


Newmont’s “expansion project continues” the trajectory of sustainability and offers healthy and profitable returns.

Dailycsr.com – 21 December 2017 – Newmont Mine operates through “sustainable and responsible mining”, while it expands its “existing operations” in a profitable yet in a responsible manner so as to create “values” and improve “lives”.
In the month of August, the company made an announcement whereby revealing that its “Tanami Expansion Project” on Australian “Northern Territory” on schedule to begin its safe “commercial production”, while the same project was well within budget.
For the said project around “$120 million” capital investments were made in expectation of an annual increment in the mine’s gold production by “80,000 ounces per year”, whereby lowering “all-in sustaining costs” and extending the mine’s life for span of added three years. The President as well as the Chief Executive Officer of Newmont, Gary Goldberg said:
“Tanami’s team has more than doubled gold production while cutting costs by about two-thirds and significantly improving resource confidence since 2012. The expansion project continues this trajectory, offering robust returns of 35 percent at a $1,200 gold price.”
As the name suggests, the Tanami mines are located in the remote area of Tanami Desert, while the mine and its operations were “fully owned” by Newmont, which began to work at the site from 2002. Moreover, Tanami mines are among the “largest gold producers” in Australia, whereby it provides employment to around “1,450 people”.
Furthermore, the Ethical Performance informed that:
“The expansion included adding a ball mill, thickener and gravity circuit to improve recoveries, and expanding mill capacity from 2.3 to 2.6 million tonnes per year. And, thanks to the dedication, skill and hard work of Newmont’s team in Australia, the project was delivered on time despite a one-month delay caused by record rainfall earlier this year”.
While, further studies are being done to undertake a “second expansion” project given the continuous successful exploration events. Among other options, there are “additional declines, the construction of a new production shaft and various strategic reassessments”.
Yet again, Newmont demonstrates its “profitable project development” commitment through the “Tanami Expansion Project”. In the course of the last three years, Newmont started “new mines at Merian (Suriname) and Long Canyon (Nevada)” besides expanding its “operations at Cripple Creek and Victor (Colorado)”.
Moreover, Newmont offers an “interactive microsite” called “Lifecycle of a Mine” which gives detailed information about the company’s mine productions. The said microsite can be accesses at: