Name of the Project
Yanacocha sulphides project.

Location
About 800 km north-east of Lima, in Peru.

Project Owner/s
Newmont Corporation.

Project Description
The project will develop the first phase of sulphide deposits at Yanacocha and an integrated processing circuit, including an autoclave to process gold, copper and silver feedstock.

The project is expected to add 500 000 gold equivalent ounces a year.

The first phase focuses on developing the Yanacocha Verde and Chaquicocha deposits to extend Yanacocha’s operations beyond 2040, with the second and third phases having the potential to extend the life of the project for many decades.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Capital costs have been estimated at about $2-billion.

Planned Start/End Date
Construction for the project has yet to start, although Newmont is not expecting to extract metal until 2026.

Latest Developments
The Yanacocha has been delayed and will be developed only "at the pace [for which] the [Covid] pandemic allows," CEO Tom Palmer said at the Perumin conference on September 22.

Peru has the highest per capita death rate in the world, owing to the pandemic and restrictions in 2020 led to a sharp decrease in economic output.

The country is also under a new leftist administration led by President Pedro Castillo, who has spooked markets and investors with plans to hike taxes. Analysts forecast a slowdown in private investments in the near future as a result of political instability.

Glocer did not mention political instability in his presentation at the conference, and said Newmont operates only in "top-tier jurisdictions," noting that Peru remains one of them.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Newmont Corporation media contact Courtney Boone, tel +1 303 837 5159 or email courtney.boone@newmont.com.
Newmont Corporation investor contact Eric Colby, tel +1 303 837 5724 or email eric.colby@newmont.com.