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Newmont expects higher costs, lowers 2020 capex
Newmont said on Tuesday it expects costs to rise in 2020 as some of its operations were placed on temporary care and maintenance, and the miner also cut its spending budget due to covid-19-led reduction in non-essential activities. The company now expects 2020...McEwen posts $99m Q1 loss on Gold Bar write-down
McEwen Mining posted a net loss of $99.2 million or $0.25 per share for the quarter ended March 31, primarily due to a $83.8 million impairment charge for its Gold Bar mine in Nevada. The company says the write-down was necessary because a change in the geological...
Freeport cuts workforce at Grasberg as coronavirus cases in area rise
Freeport-McMoRan Inc’s Indonesian unit said it will operate the giant Grasberg mine with a “skeletal team” after a rise in coronavirus infections in the area, including at the mine workers’ living quarters, and three deaths. The move is aimed at ensuring workers at...
Hochschild to restart operations at Peru mines
Precious metals miner Hochschild Mining on Monday said it would restart production at its Inmaculada and Pallancata mines in Peru, targeting full output from these locations in the coming weeks. The miner, which operates two mines in southern Peru and one in...