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Newmont Mining Corp.
Summary
| Project: | Akyem | |
|---|---|---|
| Deposit: | Akyem | |
| Location: | Ghana | |
| Commodities: | Gold | |
| Date: | 2/21/2019 | |
| Report Code: | (no Code) | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 21-2-2019: Newmont Mining Corp. announces a Resource Estimation report for its Akyem deposit at the Akyem project. Annual statement of mineral resources and ore reserves. DENVER, February 21, 2019 – Newmont Mining Corporation (NYSE: NEM) (Newmont or the C | |
| Resources: | (Reserve: total): 47.1Mt @ 1.47g/t Au with 2.24Moz gold contained | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | DENVER, February 21, 2019 – Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company) reported gold Reserves of 65.4 million attributable ounces for 2018 compared to 68.5 million ounces at the end of 2017. New additions of 6.7 million ounces exceeded the Company’s target, but were offset by negative revisions of 3.6 million ounces and depletion of 6.1 million ounces. Gold Resources1 increased significantly to 55.0 million ounces in 2018 compared to 48.2 million ounces in 2017 at a constant gold price. The Company outperformed its exploration target, adding 6.7 million ounces of gold Reserves by the drill bit, demonstrating the success of Newmont’s exploration program. Revisions of 3.6 million ounces were largely driven by model changes at Phoenix and cost and pit design changes at Carlin. Newmont reported 5.1 million ounces of attributable mine production in 2018 resulting in 6.1 million contained ounces of reserve depletion. Notable reserve additions for the year include a first-time declaration of 2.2 million equity ounces from the Yanacocha Sulfides project, 0.8 million ounces each at Tanami and Cripple Creek & Victor (CC&V), 0.6 million ounces at Ahafo Open Pits, 0.5 million ounces at Carlin Underground and 0.4 million equity ounces at Turquoise Ridge. The Company’s average gold Reserve grade increased four percent to 1.19 grams per tonne compared to 1.14 grams per tonne in the prior year, largely due to higher grade additions at Yanacocha Sulfides, Tanami, and Carlin Underground. | |
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