Newmont, the world’s largest gold producer, has recommenced operations at its Cerro Negro mine in Argentina after a temporary closure lasting six weeks. The mine was shut down following the tragic deaths of two workers, which prompted a thorough review and subsequent approval of the company’s return-to-operations plan by governmental authorities.
Newmont’s general mine manager, Marcelo Campos, stated in a statement that the mine’s reopening was approved following a thorough assessment by government representatives, highlighting the business’ commitment to operational excellence and safety. According to Campos, “the approval points out Newmont’s commitment to security and operational excellence,” emphasizing the strict rules and procedures the business follows to protect its employees and business operations.
Businesses in the area, especially small and medium-sized enterprises (SMEs) and service providers, were deeply concerned about Cerro Negro’s operations stopping. The provincial suppliers and services chamber, Capromisa, has been outspoken about the negative impact the mine closure is having on the community’s economy. They responded by pleading for authorities to begin looking into the fatalities and to hasten the administrative processes necessary for the mine to resume operations.
Cerro Negro, situated in the southern Argentinian province of Santa Cruz, is a cornerstone of Newmont’s operations in South America. The mine is a major economic contributor, generating over $500 million in exports annually. Currently, Cerro Negro is undergoing a significant expansion project valued at $540 million, aimed at extending the life of the mine until 2034. This expansion is expected to increase production significantly, with forecasts predicting the mine will produce over 350,000 ounces of gold annually from 2024. For this year, the projected output stands at 290,000 ounces of gold.
Mariana Central, Mariana Norte, and Eureka are three of the high-grade underground working mines that make up the sturdy Cerro Negro complex. Furthermore, two subterranean reserves, Emilia and San Marcos, are in the process of being developed. The asset also consists of five more deposits that are undergoing a late-stage appraisal. It is expected that they will create new activities in the Eastern District and allow the Marianas Complex to expand its operations even further.
Cerro Negro’s restart not only represents a major advancement for Newmont’s South American operations plan, but it also has a major impact on the local economies that are associated with the mine. The reopening is a positive development for all parties involved, including local companies, workers, and international gold markets. All parties are well aware of the importance of balancing industrial activity with safety and community welfare.
