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Newmont Mining Corp.
Summary
| Project: | Merian | |
|---|---|---|
| Deposit: | Merian | |
| Location: | Suriname | |
| Commodities: | Gold | |
| Date: | 2/21/2017 | |
| Report Code: | (no Code) | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 21-2-2017: Newmont Mining Corp. announces a Resource Estimation report for its Merian deposit at the Merian project. Annual statement of mineral resources and ore reserves. DENVER, February 21, 2017 – Newmont Mining Corporation (NYSE: NEM) (Newmont or the | |
| Resources: | (refer to full report) | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | DENVER, February 21, 2017 – Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company) reported gold reserves of 68.5 million ounces for 2016 compared to 71.1 million ounces for 2015. The Company added 4.1 million ounces of gold reserves through exploration. Notable additions for the year include 1.4 million ounces at Tanami, 0.6 million ounces at Merian, 0.4 million ounces at Carlin underground and 0.4 million ounces at KCGM (Newmont’s 50 percent share). Overall gold reserve grades rose from the prior year to 1.20 grams per tonne. The Company added 6.1 million ounces of gold resource1 through exploration, including 2.0 million ounces of gold at Yanacocha and significant additions at higher grade underground mines including at Ahafo, Carlin and Tanami. Resource grades rose from the prior year to 0.86 grams per tonne. Unless otherwise noted, all figures exclude PTNNT. The sale of Newmont’s 48.5 percent stake in PTNNT, which operates the Batu Hijau mine in Indonesia, closed on November 2, 2016. Newmont reported 4.9 million ounces of attributable mine production in 2016, resulting in 6.0 million ounces of reserve depletion. Other changes to gold reserves include a reduction of 0.6 million ounces due to price change, primarily related to the impact of lower assumed copper reserve pricing at Phoenix. Reserve revisions were modest and mostly offsetting. Newmont reported 33.6 million ounces of attributable Measured and Indicated gold resources and 14.0 million ounces attributable Inferred gold resources in 2016. Total attributable gold resources increased by 5.7 million ounces or nearly 14 percent from the prior year. The Company added 6.1 million ounces through exploration, partially offset by conversions of 4.1 million ounces. | |
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