Newmont Goldcorp confirms illegal blockade lifted at Penasquito Mine in Mexico
Newmont Goldcorp confirmed that the illegal blockade of the Penasquito mine in Mexico was lifted yesterday. The company continues to work closely with the federal and state governments toward a sustainable, long-term solution, and lifting of the blockade paves the way for the government-sponsored dialogue to resume. Operations at the mine remain temporarily suspended pending further evaluation of the situation on the ground and assurances that the blockade will not be allowed to resume, Newmont said in a statement. In order to protect people, assets, and the long-term viability of the mine, operations at Penasquito had been safely suspended since the illegal blockade began on September 14. The illegal blockade impacted Penasquito's third quarter production by approximately 11,000 gold ounces, 1.7 million silver ounces, 13.7 million pounds of lead and 22.8 million pounds of zinc, and is expected to impact the company's full-year results for the operation. Through September 30, this represents an approximate production shortfall of 11,000 gold ounces and 51,000 gold equivalent ounces from co-products.