Newmont ramping down Yanacocha

Newmont Corp will be safely ramping down mining operations at its Yanacocha gold mine in Cajamarca, Peru due to government restrictions related to COVID-19, but gold production from leach pads and managing critical safety and environmental activities will continue
Newmont ramping down Yanacocha Newmont ramping down Yanacocha Newmont ramping down Yanacocha Newmont ramping down Yanacocha Newmont ramping down Yanacocha

Newmont's Yanacocha gold mine is located in Cajamarca, approximately 800km northeast of Lima, Peru

Staff reporter

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Yanacocha has been operating normally since the beginning of the year and represents approximately 3% of the company's 2020 attributable gold production outlook. The company stated that as the situation is dynamic and the duration of these restrictions uncertain, it is currently unable to determine the ultimate impact on Yanacocha's production and costs for 2020.

"The health and safety of our workforce and host communities takes precedence above all else," said Tom Palmer, president and CEO of Newmont. "While we have no confirmed COVID-19 cases among Newmont's workforce or any major disruptions to production at our other sites at this time, we are proactively taking steps to protect our people and the continuity of our business during this global pandemic."

The company has not reported any major disruptions to its other sites or to its planned production, but stated that it will continue to monitor the situation and will ensure that it keeps the safety of its workforce front and centre.

Newmont has established a global supply chain taskforce to assess all potential risks and develop viable contingency plans to enable the company to stay ahead of any potential disruptions to its supply base and corresponding risks to its projects and production.

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