Month: October 2023

The San Jose Mine is in full compliance with all material environmental laws and continues to operate under the terms of the EIA. The decision of the Court is subject to appeal by SEMARNAT, and if appealed, the permanent injunction that the Company already has will remain in effect.

“Newmont generated $1.0 billion of cash from continuing operations during the third quarter and continued to execute on our long-term strategic plan. As we look ahead to the closing of the Newcrest transaction, we are excited about the long-term value it will bring to both sets of stakeholders and our combined workforce.”

Tony Makuch, CEO, states: “Our Feasibility Study test work demonstrates the exceptional metallurgical characteristics of our Cordero deposit. Previous test work established excellent recoveries for different mining phases and variable grade profiles to generate clean, saleable concentrates. This current program was focused on optimization and was successful in significantly increasing silver recoveries to the precious metals concentrate, where higher payabilities are received, and significantly reducing reagent consumption.”

“Agnico Eagle had another solid quarter with production and costs coming in as expected. The Canadian Malartic and Meadowbank complexes delivered strong results in the quarter, offsetting unscheduled mill downtime at Detour Lake and highlighting the benefit of our diverse portfolio of mines,” said Ammar Al-Joundi, Agnico Eagle’s President and Chief Executive Officer.

“With another strong quarterly performance, we are on pace for a record year both operationally and financially. Production of 135,400 ounces was above our quarterly guidance, putting us on track to set a new record for annual production. Given the strong year-to-date performance, we are raising our full year production guidance by 5% to a range of 515,000 to 530,000 ounces. With total cash costs and all-in sustaining costs below the mid-point of guidance in the quarter and year-to-date, we are also on track to achieve full year cost guidance,” said John A. McCluskey, President and Chief Executive Officer.

Ramp up of the Juanicipio plant continued to be the focus during the quarter with the plant reaching its target milling rate of 4,000 tonnes per day in September, marking a step change in performance relative to the comparative quarter and a successful transition to a fully independent producer.

Octavio Alvídrez, Chief Executive Officer, said: “I am pleased to confirm we have successfully completed the safe ramp-up of our new Juanicipio mine which is now running at nameplate capacity in line with our forecast timeline. It is having a positive impact on both silver and gold production year to date, helping to offset the lower production at Noche Buena as it nears its end of life, with higher production of both lead and zinc further supporting our overall performance. We remain on track to meet our full year production guidance.”