GOLD: Newmont making plans for Goldcorp assets

DENVER – Newmont Goldcorp produced 1.59 million oz. of gold in the second quarter of this year, thanks in part to the assets Goldcorp brought to the company when the acquisition closed on April 18, 2019. Now the company has announced plans to improve operations at former Goldcorp holdings in Canada. At Canada’s first all-electric underground mine – the Borden gold mine near Chapleau, Ont., commercial production is expected by the end of this year. The Eleonore gold mine 320 km north of Matagami, Que., continues to ramp up production as the H5 development was completed last year. Regional exploration and optimization are on-going. Newmont Goldcorp is overhauling the material handling capabilities at the Musselwhite gold mine 430 km north of Thunder Bay, Ont. A winze is being built so that ore can be hoisted from the underground crushers, thereby reducing haulage distances and ventilation costs. The project is to be fully operational in mid-2020. Additional safety controls will be added to Red Lake gold mines in Northern Ontario. Full production (150,000 oz. of gold) is expected this year from the Cochenour mine near Red Lake, Ont. The Coffee gold project 130 km south of Dawson City, Yukon, and the H.G. Young gold mine near Red Lake are in development. The company also posted a profit in its Q2 2019 financial report. Read it at www.NewmontGoldcorp.com.