Newmont Reached a Preliminary Agreement with Peñasquito Mine’s Union
October 06 2023 - 4:39PM
Business Wire
Newmont Corporation (NYSE: NEM, TSX: NGT) confirms it has
reached a preliminary agreement with the National Union of Mine,
Metal, and Allied Workers of the Mexican Republic (the Union)
aiming to end the strike initiated by the Union on June 7, 2023 at
Minera Peñasquito in the Mexican state of Zacatecas.
The preliminary agreement was ratified by the General Assembly
of the Union on October 5, 2023.
This preliminary agreement is intended to be formalized into a
definitive agreement, which the parties will have to agree,
approve, sign, and file with the Federal Labor Tribunal for
Collective Affairs in Mexico City for final approval.
This process is expected to conclude in the coming days, which
would bring the strike to an end and enable the Company to start
the execution of the return to work plan to ensure a safe restart
of operations.
About Newmont
Newmont is the world’s leading gold company and a producer of
copper, silver, zinc and lead. The Company’s world-class portfolio
of assets, prospects and talent is anchored in favorable mining
jurisdictions in North America, South America, Australia and
Africa. Newmont is the only gold producer listed in the S&P 500
Index and is widely recognized for its principled environmental,
social and governance practices. The Company is an industry leader
in value creation, supported by robust safety standards, superior
execution and technical expertise. Newmont was founded in 1921 and
has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives
through sustainable and responsible mining. To learn more about
Newmont’s sustainability strategy and initiatives, go to
www.newmont.com.
Cautionary Statement Regarding Forward-Looking
Statements
This news release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, which are intended to be covered by the safe harbor
created by such sections and other applicable laws. Where a
forward-looking statement expresses or implies an expectation or
belief as to future events or results, such expectation or belief
is expressed in good faith and believed to have a reasonable basis.
Forward-looking statements may include, without limitation,
expectations regarding the execution and approval of a final
definitive agreement, timing of the end of the labor strike, timing
of resumption of operating activities and ramp up, and the future
of Peñasquito and related union and labor relations. Expectations
of future events are based upon certain assumptions, which may
prove to be incorrect, and remain subject to risks, which could
cause actual results to differ materially. As such, no assurances
can be provided that the preliminary agreement will be formalized
on the same terms, if at all. For a discussion of risks and other
factors that might impact future looking statements, see the
Company’s Quarterly Report on Form 10-Q for the quarter ended June
30, 2023 filed with the U.S. Securities and Exchange Commission
(the “SEC”), under the headings “Forward-Looking Statements” and
“Risk Factors", including under Part II – Item 1A under the heading
“Our Peñasquito operation in Mexico is subject to social,
political, regulatory, and economic risks”, which is available on
the SEC website or www.newmont.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231006905038/en/
Media Contact Omar Jabara
720.212.9651 omar.jabara@newmont.com
Investor Contact Daniel Horton
303.837.5468 daniel.horton@newmont.com
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