DENVER–(BUSINESS WIRE)–July 5, 2022–
Newmont Corporation (NYSE: NEM, TSX: NGT) announced today that it has entered into a profit-sharing agreement with its workforce represented at the company’s Peñasquito mine in Zacatecas, Mexico. The agreement supports the continued operation of Peñasquito in the future.
Consistent with other agreements across Mexico, Newmont Peñasquito will pay its represented workforce an uncapped profit-sharing bonus of up to 10%, with an immediate cost equivalent to $70 million, which is representative of the payments linked to the results of 2021.
“We are pleased to have reached this agreement with the National Union of Mining, Metallurgical, Iron and Steel and Related Workers of the Mexican Republic,” said Newmont President and CEO, Tom Palmer. “Thanks to respectful dialogue and the active participation of union leaders, including Senator Napoleon Gómez Urrutia, we have reached this agreement without interruption of the operation, guaranteeing a lasting relationship for the future of Peñasquito.”
Newmont is the world’s leading gold mining company and a producer of copper, silver, zinc and lead. The Company’s portfolio of world-class 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, backed by strong safety standards, superior execution and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.
At Newmont, our goal is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont’s sustainability strategy and initiatives, see our annual sustainability report at www.newmont.com.
This press release may contain “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 these sections and other applicable laws. Where any forward-looking statement expresses or implies an expectation or belief regarding 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 expectations regarding the future of Peñasquito and related union and labor relations. Expectations of future events are based on certain assumptions, which may prove to be incorrect, and remain subject to risks, which could cause actual results to differ materially. For a discussion of risks and other factors that could affect forward-looking statements, see the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 filed with the Securities and Exchange Commission. United States (the “SEC”), under “Forward-Looking Statements” and “Risk Factors,” available on the SEC’s website or at www.newmont.com.
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KEYWORD: NORTH AMERICA UNITED STATES MEXICO CANADA CENTRAL AMERICA COLORADO
INDUSTRY KEYWORD: MINES/MINERALS NATURAL RESOURCES
SOURCE: Newmont Corporation
Copyright BusinessWire 2022.
PUBLICATION: 05/07/2022 07:30 / DISK: 05/07/2022 07:32
Copyright BusinessWire 2022.