Newmont cuts 120 jobs at Nevada gold mining operation
Newmont Mining Corp, the world's No. 2 gold producer, is cutting 120 jobs at its Carlin mining operation in Nevada after deciding to reduce the life span of one mine and suspending part of another due to a wall slide, a spokesman said on Thursday.
The Denver, Colorado-based company announced the cuts to its workforce and union on Jan. 7 and is in the process of informing affected employees, Newmont spokesman Omar Jabara said.
Newmont said in its third-quarter results announcement in October that it was taking a write-down due to a change to the mine plan of the Emigrant open-pit mine at Carlin that would reduce its life span, originally set at 14 years.
Newmont also cut overall production guidance for its North American operations for 2018, citing a 12-percent drop in gold production at Carlin in the quarter ended Sept. 30 from a year earlier.
With seven mines, Carlin is the biggest of four Newmont gold mining operations in Nevada.
Jabara declined to specify why the mine plan was changed at the Emigrant mine, which started operating in 2012, but said plans can change for a variety of reasons including the gold price and costs of processing.
He added that operations in part of the Gold Quarry open-pit mine in Carlin were suspended for clean-up after a wall slide.
Newmont employs a total of about 5,000 people, including contractors, in Nevada, according to the company's website.
The company doesn't anticipate any further layoffs at Carlin, Jabara said.
Newmont shares closed up 1.3 percent at $34.82 in New York, compared with a 0.5 percent gain in the Dow Jones Industrial Average.
source: MINING.COM
Top News
Glencore in talks to sell Philippine copper smelting unit
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Mercuria partners with Zambia on metals trading venture
Iron ore price weakens as Australia flags return to sub-$100 prices
Arcadium Lithium investors sue miner over Rio Tinto takeover
Rio Tinto, BHP, and BlueScope to build ‘green iron’ plant
Aluminum price falls to one-month low in wider commodity slump
Triple Flag to acquire royalty on Tres Quebradas lithium project
Gemfields says unrest could disrupt Mozambique ruby mine
Iron ore price rises on pre-holiday restocking, China stimulus hopes
Canada invests $70m in Seymour Lake lithium project in Ontario
Solar, EVs and a big exit from coal: 2024’s good climate news
Gold price steadies as traders focus on uncertain 2025 rate path
Lithium suppliers seek to rein in price discounts in 2025 talks
Nigeria resumes mining in Zamfara state on improved security
Midnight Sun receives exploration license renewal for Solwezi copper project in Zambia
Lithium Americas and GM close joint venture for Thacker Pass mine
Gold price slips as traders weigh outlook for Fed interest rate cuts
Gemfields says unrest could disrupt Mozambique ruby mine
Iron ore price rises on pre-holiday restocking, China stimulus hopes
Canada invests $70m in Seymour Lake lithium project in Ontario
Solar, EVs and a big exit from coal: 2024’s good climate news
Gold price steadies as traders focus on uncertain 2025 rate path
Lithium suppliers seek to rein in price discounts in 2025 talks
Nigeria resumes mining in Zamfara state on improved security
Midnight Sun receives exploration license renewal for Solwezi copper project in Zambia
Lithium Americas and GM close joint venture for Thacker Pass mine