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

Sep. 18, 2019 4:16 PM ETNewmont Corporation (NEM) Stock, NGT:CA StockNEMBy: Carl Surran, 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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