Newmont's Gold Mine Focuses on Delivering Full Potential

SEATTLE (Scrap Monster): Newmont’s Penasquito gold mine- the largest gold mine in Mexico announced its plans to focus on various initiatives aimed at delivering its full potential.

The company’s Denver operational support hub now monitors the asset health monitoring of fixed plant and mobile equipment. Also, advanced process control techniques are being implemented to improve productivity and boost cost efficiencies. The company focuses on near mine exploration and has been increasingly spending on underexplored, highly prospective areas. 

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Newmont aims to boost throughput from Penasquito mine by 6 Mt/y and targets 0.5% flotation recovery. This in turn will lead to savings of approximately $154 million per annum. The mining initiatives by the company include improved drillings and dig patterns and an improved blast fragmentation.

The plan highlights various measures to enhance asset management. These include measures to optimize the maintenance schedule and improving mill availability. Newmont also looks at inventory optimization by at least $45 million and entering into beneficial global contract negotiations.