Gold major Newmont on Thursday said that it would only look to advance its exploration projects to development by the end of the decade.
Speaking at the Mines and Money Online Connect virtual conference, Newmont president and CEO Tom Palmer noted that while the company had several ‘mega’ projects within its project pipeline, the company’s production profile would only require the first of these projects at the ‘very end of this decade’.“Now is the time to optimise them and to get competition for capital going between those projects, to determine which of those will be the first to come through within that timeframe. The real focus is on optimising [the projects] and holding them in that prefeasibility study stage until we understand which has the best potential, and how we can implement those projects.”