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Newmont offers $25M in local projects to resolve Mexican mine conflict

|About: Newmont Goldcorp Corporation (NEM)|By:, SA News Editor

Newmont Goldcorp (NEM -1.4%) says it will offer $25M in community investments and land rental fees to resolve a conflict at its Peñasquito gold mine in Mexico.

NEM says its proposal to the Cedros community includes a 30-year pledge to operate a water treatment plant, a 12-year deal to lease local land and the promise to invest in a production or infrastructure project.

Operations at the open-pit mine, which produced 272K oz. of gold last year, were temporarily suspended last weekend because of a blockade by protesters and have been intermittent since March due to protests.

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