Newmont issues new 2020 guidance, lowers capex
US-based gold major Newmont has issued a new production guidance for 2020, as it began ramping up operations at four sites that were previously placed in care-and-maintenance.
CEO Tom Palmer reported in a media statement on May 19 that 13 sites of Newmont's14 operating mines and joint ventures would be fully operational in the "coming weeks".
The only operation that remains suspended is the Musselwhite mine, in northern Ontario, Canada. The company idled operations at Musselwhite on March 23 to prevent the possible transmission of the coronavirus to the nearby First Nation communities. Newmont said it would agree a safe restart plan with First Nations.