Newmont Corporation (ASX:NEM) has reported a strong second-quarter production, yielding 1.5 million ounces of gold and 36,000 tonnes of copper. This announcement coincides with an incident at the Red Chris gold and copper mine in British Columbia, where three workers were trapped underground. Newmont is a leading gold producer with operations across the globe. It explores for and processes gold, copper, silver, zinc, and lead.
The company has temporarily suspended operations at the Red Chris mine as rescue efforts are underway. According to both Newmont and a senior elected official, all available resources have been deployed to ensure the safe return of the workers. The incident has prompted increased focus on safety protocols across Newmont’s operations.
Despite the ongoing situation at the Red Chris mine, Newmont remains confident in its overall performance. Chief Executive Officer Tom Palmer stated the company is on track to meet its 2025 guidance. The CEO reaffirmed Newmont’s commitment to strengthening its safety culture, stabilising operations, and delivering long-term value to its shareholders.
Following these announcements, Newmont’s share price experienced a decline. On Thursday, the company’s stock fell by 1.9 per cent, settling at $91.88. Investors are closely monitoring the situation at the Red Chris mine and its potential impact on future production and the company’s financial outlook.