EXPANSION at its Australian operations has paid off for Newmont, enabling it to record the largest gold mineral reserves in the company’s history.
Of the miner’s record gold reserves of 100.2m attributable ounces for 2019, 88pc are located in the US and Australia, boosted by the strong base at the Boddington and Tanami mines in WA.
The Tanami project contributed 1.5moz of gold reserves, 1.1moz of measured and indicated gold resources, and 1.6moz of inferred resource.
Newmont president Tom Palmer said the acquisition of Goldcorp in 2019, along with the Nevada Gold Mines JV and continued exploration, added almost 50moz to the gold reserves.
The Boddington mine boasts a mine life of 14 years and the Tanami mine 12.
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