All posts by Paul Moore

Epiroc to showcase SmartROC D65 battery-electric at MINExpo 2024

Environmental, Equipment maintenance, Explosives and blasting, Mining consumables, Mining equipment, Mining maintenance, Mining services, Power supply for mines, Sustainable mining

Epiroc will showcase a demonstrator of the first ever Down-The-Hole (DTH) SmartROC D65 battery-electric drill rig at the MINExpo exhibition in Las Vegas, September 24-26. This innovative surface drill rig it says  will play an important role in the shift towards a green transition and zero emission drilling in surface mines.

“We are very excited to showcase this rig at this year’s MINExpo. The SmartROC D65 BE is a milestone for us and for surface drilling around the world. The fact that we are removing tail pipe emissions from the drilling process is an important step towards a better environment. This accomplishment also shows that Epiroc has a vital role to play in making our industry more sustainable,” says Martin Johansson, Acting Vice President Marketing, Epiroc Surface division.

The SmartROC D65 BE demonstrator is based on the well-proven SmartROC D65 surface drill rig. In combination with invaluable experience gained from the development of Epiroc underground battery rigs, this new rig is designed to enhance the environmental standards of mining and larger quarry sites. Besides the low emissions, this rig provides the same range of on-board smart features, and delivers high safety, reliability, and performance – in a quieter working environment.

“We have seen a demand in the mining business for greener solution – and with SmartROC D65 BE we meet those demands,” says Mattias Hjerpe, Global Product Manager, Epiroc Surface division.

The leading service provider Capital Ltd has been a close partner during the testing phase. The SmartROC D65 BE demonstrator on the stand will also go directly to Capital Ltd for field trial after the exhibition. Capital Ltd points out that SmartROC D65 BE will be an important asset in their future transition journey towards reducing emission and decarbonisation.

“We are excited to be partnering with Epiroc to field test this innovative electric drill rig technology that will help drive our industry towards more sustainable operations. To be at the forefront of the transformation towards emissions-free surface drilling supports our company’s overarching commitment to decarbonisation, as well as providing value for our customers,” says Peter Stokes, Chief Executive Officer Capital Ltd.

The SmartROC D65 BE demonstrator is equipped with a battery which drives the tramming motors and an electric cable to hook it up to provide power for drilling. “The SmartROC D65 BE surface drill rig is fitted with the same type of well-proven batteries and subcomponents as in other Epiroc battery solutions. This streamlines spare parts handling and service for customers with several different operations,” says Hjerpe.

Epiroc says its battery-electric solutions are attracting strong interest from the market. Customer benefits include emissions-free operations, lower noise pollution and vibration, and higher productivity. The rig plays a vital role in Epiroc’s ambitious sustainability goals for 2030, which include halving the CO2 emissions in operations and from sold products when compared to 2019 levels.

In 2021, the goals were validated by the Science Backed Targets initiative as being in line with keeping global warming at a maximum 1.5°C, consistent with the latest climate science and the goal of the Paris Climate Agreement. Epiroc says it is determined to offer its full range of underground equipment in an emission-free version by 2025, and for the surface equipment it aims to offer the same by 2030.

BEUMER Group to showcase digitalisation breakthroughs in mining at MINExpo 2024

Automation, Bulk handling, Equipment maintenance, Mineral processing, Mining consumables, Mining maintenance, Mining services, Mining software

BEUMER Group says it will outline the considerable advantages in efficiency, safety, and sustainability of digitalisation in mining at the MINExpo exhibition in Las Vegas, Nevada, from 24 to 26 September 2024.

Visitors to the event can find out how digitalisation can be a catalyst for change. Digitalisation in mining enables organisations to collect and analyse data and to test the machines under new operational conditions, ie using a digital twin model. These unique options enabled by digitalisation lead to a data-driven and more informed decision making process. Mining plants can also benefit from cost reductions and increased efficiencies as digitalisation supports the implementation of material tracking systems. Companies are able to automate and streamline mining processes and closely monitor resources through sensor data providing insights into bulk material handling and transport processes – therefore enabling more intelligent routing.  

Digitalisation can also underpin stockyard management systems, streamlining and automating scheduling, monitoring and documenting material handling and storage for more efficient operations. It can provide the foundation for smart mine connectivity, consolidating data from all machines and equipment into a single front-end dashboard for a wider scope of visibility and the enablement of predictive maintenance scheduling for minimal unexpected downtime. The same digitalisation principles can be applied to other essential mining tasks, such as train loading systems. 

As well as advanced anti-collision systems combining mapping technology, digital mining solutions can improve safety by protecting personnel and assets. It also enhances the remote operation of equipment.   

In addition to these benefits, the effective application of digital solutions can mitigate the workforce retention issues currently facing the mining industry. With an aging workforce leading to a widening skills gap, digitalisation could change how the mining industry approaches tasks that were once thought of as exclusively manual. 

BEUMER Group offers completely tailor-made solutions for digitalisation in mining and bulk material handling, acting as a digital integrator. Its experts will be available at the booth at MINExpo to discuss how digital technologies can blend with existing solutions and processes for commercial advantage.  

Visitors can also discover more about the full package of products and services from bulk materials specialist FAM Minerals & Mining, part of BEUMER Group since 2022. FAM offers machines along the complete transport chain for bulk materials, from the pit, to the plant, to the port, including extraction, conveying, processing, storage, loading and unloading of various raw materials. It provides end users with a comprehensive service, including development of customised technical solutions, detailed planning, delivery, installation, commissioning and maintenance of the machines. Experts will be on hand to discuss how implementing digitalisation can enhance FAM’s portfolio of products and services. 

“Digitalisation is a term most often associated with smart factories, but it can also have a transformative effect on heavy industries like mining,” says Bruno Castro, Global Head of Digital Technology, Minerals & Mining at BEUMER Group. “Our experts can help the mining industry realise the tangible benefits of digitalisation to improve efficiency, productivity and safety. We’re looking forward to welcoming visitors to our booth during MINExpo to discuss how best to unlock the power of digital technologies.”

MacLean to showcase decarbonisation leadership at MINExpo 2024

Environmental, Equipment maintenance, Mine shafts and equipment, Mining consumables, Mining equipment, Mining maintenance, Mining services, Sustainable mining

MacLean, a global leader in mining support vehicle electrification, will be participating in the upcoming MINExpo in Las Vegas, Nevada, September 24-26, with the message to share that the company is committed to supporting the rapid decarbonisation of the mining industry.

The MacLean booth is part of the Canadian Pavilion in the North Hall of the Las Vegas Convention Center. Members of the Maclean executive team will be in attendance along with representatives from the company’s Elko, Nevada branch, supported by product experts in the areas of electrification, automation, and digitalisation.

MacLean recently completed manufacturing its first battery electric underground motor grader, an EV GR5, which will soon ship to the Torex Media Luna project in southern Mexico, building on the MacLean EV fleet deployment at that site as well as at key minesites in Ontario and Quebec. By the end of this year, MacLean will have manufactured, shipped, and commissioned 100+ EV units around the globe, amassing over half a million operating hours since the launch of the company’s full-fleet electrification program in 2015.

“We know that the mining world gathers every four years at MINExpo, and for us that means focusing as much on our local roots in Nevada as our global growth and EV leadership storylines,” notes MacLean USA General Manager, Tara MacLean. “Since setting up an Elko branch back in 2019, we’ve continued to invest in hiring the local talent and infrastructure required to grow our customer base throughout the state and beyond into Arizona, Idaho, Washington State, and New Mexico. I’m thrilled to be able to represent our Elko, Nevada team at the show, to underline the message with our US customers that MacLean USA is solidly established, and we have a vision and a plan in place for big growth and big support.”

“These industry gatherings provide us the opportunity to thank some of our key customers in person, which we never take lightly because these are the foundational relationships that have allowed us to build a thriving, global business over the past 50 years,” notes MacLean owner and CEO, Kevin MacLean. “We now have a multi-factory, continental manufacturing base and an increasing focus on selling and supporting our product line outside of our home base in Canada. Wherever we go in the world, the value proposition remains the same – best-in-class engineered design for safety and productivity, coupled with full lifecyle service and support so that our customers, whether it’s in the Americas, Africa, or Australasia, can always count on MacLean as a partner, not just a supplier.”

“I’m proud of the leadership this company has demonstrated in helping the mining industry decarbonise through diesel-free fleet adoption and even though we’re a decade into our EV Series deployment, we’re really only just getting going,” remarks MacLean President, Stella Holloway. “When the mining world unites for three days in Las Vegas at the end of September, I’m very much looking forward to having conversations with our industry partners that will help accelerate mining innovation in the 21st century, all in the name of safety and productivity. They are the core drivers that have been and always will be, why we do what we do as a mining equipment manufacturer.”

Bridgestone to debut Smart On-Site mining solutions program at MINExpo 2024

Bulk handling, Equipment maintenance, Mining consumables, Mining equipment, Mining maintenance, Mining safety, Mining services, Sustainable mining

Bridgestone Corporation has announced its new ‘Smart On-site’ mining solutions program, which it will exhibit at MINExpo International 2024 in Las Vegas from September 24-26, 2024. With this year’s show theme, ‘MOVE MORE WITH LESS,’ Bridgestone will showcase Smart On-site and “its easy-to-manage, turn-key and customisable blend of premium tyre products, mobility solutions and industry leading service and support in a single transaction for mining operations.”

“At Bridgestone, we believe that unlocking a mining business’s true potential lies in enhanced connectivity,” said Rob Seibert, President, Off-the-Road, US and Canada, Bridgestone Americas. “With Bridgestone Smart On-site, we offer a comprehensive approach to mining operations, seamlessly integrating our products, solutions, and expertise to optimise performance and ensure sustained excellence.”

The launch of Smart On-site the company says marks the next evolution of Bridgestone’s vision for the mining segment, highlighting enhanced connectivity and flexibility to meet the unique needs of all fleets. The new Smart On-site program unlocks additional value for customers through the strategic integration and amplification of three core pillars:

Amplify Value of Dan-Totsu Products: First, it says Bridgestone products provide unmatched durability, reliability, productivity, and sustainability. Each tyre is fundamentally designed with specialised features and technology to help operators move more with less. Within the booth, Bridgestone will showcase two tyres from its industry leading MASTERCORE lineup, the VZTB and VREV, and debut three new tyres for the surface and subterranean mining segments.

Amplify Trust: Second, the Bridgestone service network it says is the largest in the industry, offering comprehensive training and support to provide mining customers with the knowledge needed to be successful. Bridgestone deploys a team of technical sales and engineering solutions professionals equipped with a deep understanding and expertise in tires and digital solutions to assist online and on-site. In the booth, the company will showcase its full package of Engineering Solutions including heat and weight studies, in- and out-of-service inspections, GPS assessments, G-force studies, drone surveys, site assessments and consultations.

Amplify Data Value: Third, advanced digital solutions enable fleets to optimise operations with data insights that maximise performance and sustainability. Bridgestone offers tyre monitoring and asset management solutions for mining fleets, which provide end-to-end support that creates smarter work environments. At MINExpo, Bridgestone will showcase its advanced digital solutions, including iTrack and Toolbox, to demonstrate the power of data to drive actionable insights and decision-making.

Smart On-site programs are co-created with customers and utilise the latest operational data to establish a one-of-a-kind suite of solutions for each customer to address pain points. This comprehensive approach enables operators to work optimally and leverage real-time and historical data insights to continuously improve. Smart On-site is the latest example of Bridgestone’s commitment to enhancing the mining industry with modern technologies and data-driven insights.

Officially making their debuts at MINExpo, the all-new Bridgestone V-Steel Mining Smooth Tread (VMMS) and V-Steel Mining D-Lug (VMDL) feature technology innovations for the underground hard rock segment. The two new premium radial tyres are designed specifically for load haul dump (LHD) loaders, offering underground vehicles durable options that can withstand harsh environments. For additional flexibility, each tyre is manufactured with a unique tread pattern to support the different terrains of underground mining. The VMMS is encased with a smooth pattern, and the VMDL has a lug pattern.

The VMMS and VMDL are engineered for LHD loaders that require the load capacity of a 3-star rating, while maintaining the benefits of air pressure from a 2-star rating. Bridgestone subterranean products deliver enhanced benefits with a strengthened bead structure, enabling 15% more load capacity and an 8% larger footprint for underground vehicles.

New specialised compounds within the tread of both tires help deliver 10% longer wear life and higher heat resistance. The VMMS tyre features a vertical sidewall shape and wider outer belt, leading to a 24% increase in cut resistance compared to the previous model.

In addition to innovative design features, the new VMMS and VMDL can be supported by Bridgestone’s tyre management systems. The VMMS is available in sizes 26.5R25, 29.5R29, and 35/65R33, and the VMDL is available in 26.5R25 and 29.5R29.

In addition to the VMMS and VMDL, Bridgestone will launch the new Firestone Super Rock Grip™ Deep Tread Loader Dozer 2 (SRG DT LD 2), one of the company’s largest tyre products, for the surface mining segment. The SRG DT LD 2 is designed specifically for loader applications and will be available later this year. The tyre is manufactured at the company’s Bloomington, Illinois tyre plant in two sizes, 58/85-57 and 70/70-57, and is approved for Komatsu and Caterpillar loaders. The new tyre is designed with several specialised features to enhance load performance, including:

Longer Tyre Life: the SRG DT LD 2 features an extra-heavy duty non-directional tread design, providing a 31% increase in tyre life over its previous model.

Improved Durability and Comfort: In addition to the non-directional tread design, the SRG DT LD 2 is manufactured with a new casing construction to improve cut resistance and provide better stability for more productivity and ride comfort.

Reduced Tramming Time: Engineered with new compounds and construction, the tyre has improved heat resistance for a 90% better tramming time.

Newmont Cadia says PC-3 project now self-caving

Base metals, Mine shafts and equipment, Mineral project development, Precious metals

A significant milestone has been achieved at Newmont Cadia copper-gold mine – the team recently celebrated as the PC2-3 project began self-caving within the orebody – a major technical achievement that confirms the orebody’s amenability to caving and the successful delivery of a world-class, 15 Mt/y panel.

Newmont stated that with 64 of 154 drawbells now complete, cave establishment work will continue, with the project set for completion in 2026. Once fully operational, the PC2-3 cave will be a central hub of Cadia’s operations, contributing to the mine’s safe and efficient performance over the next 15 years. The cave is projected to produce an impressive 1.1 Moz of gold and 440,000 t of copper.

In parallel, work on the 25 Mt/y PC1-2 project is also progressing, with development and mass excavation activities ongoing. Cave establishment is expected to begin in 2026, with caving to commence in 2027. PC1-2 is the next panel cave for execution at Cadia after PC2-3, and its development is expected to recover approximately 20% of Cadia’s published ore reserves.

 

TAKRAF Group and PSI Minerals Technologies sign cooperation agreement

Mineral processing, Mining services, Water management

TAKRAF Group has announced the successful signing of a cooperation agreement with PSI Minerals Technologies, part of the PSI Group, on September 4 this year. The signing of this agreement the partners said marks the beginning of an exciting new chapter of collaboration between both organisations. The signing took place at PSI’s premises in Almaty, Kazakhstan, and was attended by key leaders and senior colleagues from both companies.

A central focus of the collaboration is on the DELKOR brand and its liquid/solid separation and wet processing equipment, which are specifically designed for the needs of the mining industry. TAKRAF stated: “An important factor to consider when our clients are trying to reduce fresh water intake and increase process water recovery via our specialised dewatering solutions or maximise metal recovery through our BQR flotation cell equipment, which now includes our proprietary MAXGen mechanism.”

Through this partnership, TAKRAF says it aims to combine its collective expertise, resources, and innovative technologies to provide even stronger support to mining and minerals processing operations across the Central Asia region. “By leveraging each other’s strengths, we are now able to offer comprehensive, tailored solutions that improve safety, environmental sustainability and operational efficiency, ensuring that our customers stay ahead of the game in an increasingly competitive market.”

TAKRAF added: “We extend a warm welcome and thanks to our PSI partners and extend sincere gratitude to all stakeholders who participated and supported this auspicious event.”

Feasibility study on Lumwana Super Pit expansion expected by year-end

Base metals, Bulk handling, Equipment maintenance, Mineral processing, Mining consumables, Mining equipment, Mining maintenance, Mining project news, Mining services

The feasibility study for the expansion of Barrick’s Lumwana mine in Zambia is expected to be completed by the end of the year, paving the way for construction to start in 2025, the company said today.

Speaking during a webinar focused on updating the market on the Lumwana Super Pit Expansion Project, Barrick President and Chief Executive Mark Bristow said the expansion unlocks the potential to transform the Lumwana mine into a long-life, high yielding, Top 25 copper producer and a Tier 1 copper mine, capable of contending with the volatility of the copper demand cycles.

The expansion involves first doubling throughput by twinning the existing process circuit and then by significantly increasing mining volumes. Plant throughput will grow from the current 27 Mt to 52 Mt, doubling the mine’s annual copper production from 120,000 t to a life-of-mine average of 240,000 t per annum. The process expansion is supported by a ramp up of total mining volumes, which are planned to increase incrementally year-on-year, from 150 Mt in 2024 to approximately 240 Mt in 2028 and then to an average rate of 290 Mt per annum from 2030 onwards.

Chief Operating Officer for Africa and Middle East Sebastiaan Bock said: “The phased ramp-up will enable a competitive cost profile over the life of the mine and annual operating cash flow and free cash flow are projected to improve by as much as 85% and 60%, respectively, based on the long-term copper price consensus. These production and cost improvements will contribute to an estimated incremental net present value (NPV8) of $1.7 billion.”

At a flat long term average copper price consensus of $4.13/lb, Barrick estimates that the project will deliver an incremental IRR (Internal Rate of Return) of 20% and a total mine IRR of more than 50%, paying back the initial expansion capital in approximately two years after completion of the expansion. Post-expansion, cost of sales and C1 cash costs are estimated at approximately $2.36/lb and $1.85/lb, respectively, placing Lumwana in the first quartile of the industry, excluding the benefit of any byproducts.

Barrick says the plant expansion design is modern, efficient and fit for purpose – building on the existing operational knowledge base with a design underpinned by geometallurgical test work and its advanced orebody knowledge. Thorough comminution and flotation testwork has been completed on the mined Lumwana deposits and new satellites.

It also has expanded footprint synergises with the existing process plant infrastructure, plus learnings from the feasibility study have been applied to upgrades on the existing process plant to increase use of technology to improve efficiency and delivery. The expansion will see improvements in process control and automation alongside the experience of world-class operators from the current plant.

According to Mineral Resource Management and Evaluation Executive Simon Bottoms, the process plant engineering has matured to a point that has allowed Barrick to select major equipment vendors and place orders for long lead equipment, including both mills and crushers. “We are starting detailed engineering works this quarter and expanding our onsite accommodation while building partnerships with key suppliers and contractors ahead of the pre-construction ground preparation works, which are scheduled to start next year,” said Bottoms.

Commissioning of the new process plant is planned to start in the second half of 2027. Once the new process circuit is commissioned, the existing circuit will undergo a series of planned shutdowns, allowing Barrick to install upgrades, while ensuring uninterrupted copper delivery throughout the expansion.

The permitting process for the expansion is well underway, with the Environmental and Social Impact Assessment already submitted to the Zambian authorities and approval expected by the end of this year.

Regarding the mining equipment, new Komatsu 930E-5 trucks along with Hitachi EH5000 trucks now make up the fleet teamed with Komatsu PC8000 and PC7000 shovels, with Barrick stating that it has optimised the fleet for the ramp-up based on past experience. A phased transition to cable electric-powered shovels is set to be complete in 2031; while in-pit crushing and conveying has been built into the mine design to reduce truck requirements.

Codelco’s Radomiro Tomic division adds 65 electric buses

Environmental, Equipment maintenance, Mining people, Mining services, Sustainable mining

In the presence of Rubén Alvarado, Executive President of Codelco; Gabriel Méndez, Vice President of Corporate Affairs and Sustainability; Julio Díaz, General Manager of the Radomiro Tomic Division (DRT), in addition to union leaders and a delegation of students from the Radomiro Tomic Romero B-34 High School in Calama, Codelco has inaugurated a fleet of 65 100% electric buses at DRT, which is the largest in northern Chile.

This initiative will benefit 800 workers daily, a number that will increase as collaborators from contracting companies join. These 65 new vehicles have been added to the existing electric buses at the Codelco El Teniente, Andina, Salvador and Chuquicamata divisions, with the company-wide fleet now totalling 250 units.

The electric fleet represents an important step towards sustainability and care for the environment, since it will reduce carbon dioxide (CO2) emissions into the atmosphere by around 40 tons per year per unit, which is a contribution to the corporate principles of ‘Deliver with excellence and innovation’ and ‘Build the future with sustainability,’ as reflected in Codelco’s Charter of Values.

“We have 250 electric buses in the company, which make up the largest fleet of this equipment in national mining and it is part of making our purpose a reality: we want to be a pillar of the sustainable development of Chile and the world,” emphasised Alvarado. He delved into the initiatives that constitute key elements in this regard. “The fact that the students of the Radomiro Tomic Romero High School are present, and that we are inaugurating these buses concerned about our own carbon footprint and how we integrate with the communities is, finally, sustainable development and what we are trying to promote in Codelco.”

For his part, Julio Díaz described overall progress at DRT in terms of sustainability. “We are fully entering the era of electromobility with these 65 buses. Also in 2026, contracts with 100% renewable energy will be incorporated and the first cubic metres of desalinated water will arrive. The way we are going to operate in the division has to live up to the best sustainability standards.”

The activity also included the participation of workers and the companies Buses JM, the bus operator; charging station and electrical infrastructure provider Enel X; and Cabal, representatives of the Chinese electric bus manufacturer Zhongtong in Chile.

Aya Gold & Silver updates on Zgounder expansion project progress

Mineral processing, Mineral project development, Mining project news, Mining services, Precious metals, Water management

Aya Gold & Silver Inc recently provided an update on construction progress at its Zgounder Silver Mine in the Kingdom of Morocco. The expansion project was 98% complete as at August 30, fully funded, and on budget.

However, engineering, procurement, and construction partner, Duro Felguera (DF), encountered issues during commissioning of the hydraulic unit of the ball mill. As a result of these issues, DF recently advised Aya that a rework of the hydraulic unit piping is required. This does not impact the integrity of the ball mill, the hydraulic unit or other equipment. Commissioning of other subsystems is proceeding steadily, and the crushing circuit is now operational.

As a result of the necessary rework, DF has requested and obtained from Aya a two-month extension for hot commissioning and ramp-up of the Zgounder expanded plant. All other critical areas of the Zgounder expansion project are progressing to plan or are in commissioning:

Commissioning of other areas of the plant continues to progress: ore has been crushed throughout the entire crushing circuit and sent to the silo. Work has begun on the underground ramp from the 1,925 m to 1,900 m levels and will continue to lower levels. The entire mining site is now powered with renewable energy from the newly built 60 kV power line plus the new underground mobile workshop is in use and the primary underground ventilation is working on all levels. The on-surface cemented backfill mixing station and piping on all sublevels are mechanically complete and will shortly be commissioned.

All four underground electrical substations have been deployed and the water dams and other water storage infrastructures are operational. The new tailings dam is in use and water is being recovered from the tailing dam. The base camp is also complete and the new assay laboratory is near-complete with commissioning planned end of September 2024.

Given the delay in hot-commissioning and ramp-up of the Zgounder expanded plant, the company’s 2024 production guidance is under review. Aya expects to revisit its production guidance based on construction progress and operational results by latest November 14, 2024, when it will publish its third-quarter 2024 financial results.

“While there has been a slight delay in hot commissioning, all critical aspects of the Zgounder Mine expansion are advancing as planned, and the project remains on budget,” said Benoit La Salle, President & CEO. “We are on track for a strong finish to the year with additional operational milestones and exploration drill results expected to further enhance stakeholder value. We are confident that 2025 will be an exceptional year following completion of the plant ramp-up.”

Newmont selling Telfer and Haverion assets to Greatland Gold

Base metals, Mining mergers and acquisitions, Precious metals

Newmont Corporation has announced today, as part of its ongoing program to divest non-core assets, it has agreed to sell the Telfer operation, Newmont’s 70% interest in the Havieron gold-copper project, and other related interests in the Paterson region, all in Australia, to Greatland Gold PLC. The transaction is expected to close in the fourth quarter of 2024, subject to certain conditions being satisfied.

Under the terms of the agreement, Newmont expects to receive gross proceeds of up to $475 million, which includes a cash consideration of $207.5 million, due upon on closing; equity consideration of $167.5 million in the form of Greatland shares, to be issued upon closing; and a deferred contingent cash consideration of up to $100 million.

“The transaction announced today represents the first asset sale in the divestiture program announced in February. I am pleased that Telfer and Havieron are being sold to Greatland, a company with a highly experienced management team and board of directors. I have full confidence that the Greatland team will be outstanding stewards of these assets,” said Tom Palmer, Newmont’s President and Chief Executive Officer.

“Including the Telfer divestiture, we continue to expect to reach at least $2 billion in total proceeds from the sale of our high-quality, non-core assets, enabling us to focus attention on our suite of Tier 1 assets, further reduce debt, and return capital to shareholders.”

Newmont says it remains firmly on track to deliver on its 2024 commitments. With the expectation that the transaction will close in the fourth quarter of 2024, Newmont has made minor adjustments to its non-core gold and copper production guidance to reflect the Telfer divestiture, which was classified as ‘held for sale’ in Newmont’s financial statements.