Newmont Goldcorp resumes operations at Peñasquito gold mine in Mexico
Newmont Goldcorp Corp (NYSE: NEM) (TSX: NGT) has resumed shipping concentrate from its Peñasquito gold mine in Mexico following the lifting of an illegal blockade by a trucking contractor and some members of the Cedros community.
During the temporary suspension of operations, the mine used the downtime to bring forward maintenance on a variety of systems and equipment, Newmont Goldcorp said in the statement.
The open-pit mine, in northern Zacatecas state, produced 272,000 ounces of gold last year, accounting for about 17% of the combined company’s net asset value, according to Scotiabank.
In the last three years, Peñasquito has been the target of protests of landowners, truck drivers and residents of nearby towns. They mostly demand jobs, compensation for alleged environmental damages and clean water for their communities.
The mine’s previous owner, Goldcorp, recently said that objections to the mine decreased by almost 66% last year due to improved relations with locals, including building a rural health centre in the town of Cedros and launching an economic development program for small businesses.