Project Integration Allows for Agua Rica and Alumbrera Partners to Leverage Synergies as The MARA Project
DENVER--(BUSINESS WIRE)--Dec. 18, 2020--
Newmont Corporation (NYSE: NEM, TSX: NGT) and its joint venture partners announced the successful integration of the Alumbrera mine, plant and infrastructure with Yamana Gold’s Agua Rica project to create the integrated MARA project. The integration of these two assets finalizes the joint venture between Newmont (18.75%), Glencore International AG (25%) and Yamana Gold (56.25%).
“I am pleased to see this partnership complete the integration of the projects. Joining the Agua Rica ore body with the high-quality infrastructure from Alumbrera will ensure the sustainability of both sites’ resources,” said Newmont’s President and CEO Tom Palmer. “Newmont looks forward to the MARA project adding value to our world-class portfolio.”
Under the MARA Project, Agua Rica will be developed and operated using the existing infrastructure and facilities from the Alumbrera mine, approximately 35 kilometers away. The integration unlocks significant value by leveraging Alumbrera’s infrastructure including the plant, tailings storage facility, pipeline and other infrastructure to be used for processing ore from Agua Rica.
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.
At Newmont, our Purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Musselwhite mine visit www.newmont.com.
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Source: Newmont Corporation