Newmont Goldcorp resumes operations at Peñasquito gold mine in Mexico

Peñasquito mine was part of the portfolio of Goldcorp, whose acquisition Newmont completed in April to become the world’s biggest gold producer. (Image courtesy of Newmont Goldcorp via Flickr)

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. 

Access to the site was blocked on March 27, forcing the world’s largest gold producer by market value, output and reserves to halt operations in late April.

Seven-week downtime was used to bring forward maintenance on a variety of systems and equipment, said Newmont Goldcorp

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.

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