{"id":1145969,"date":"2019-10-25T15:28:13","date_gmt":"2019-10-25T20:28:13","guid":{"rendered":"https:\/\/www.mining.com\/?p=1005298"},"modified":"2019-10-25T15:28:13","modified_gmt":"2019-10-25T20:28:13","slug":"newmont-goldcorp-board-approves-tanami-expansion-2-project","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1145969","title":{"rendered":"Newmont Goldcorp board approves Tanami expansion 2 project"},"content":{"rendered":"<p>Newmont Goldcorp (NYSE: NEM, TSX: NGT) <a href=\"https:\/\/www.businesswire.com\/news\/home\/20191025005125\/en\/\"  rel=\"noreferrer noopener\" aria-label=\"announced today (opens in a new tab)\">announced today<\/a> that its board of directors unanimously approved advancing the Tanami expansion 2 project in&nbsp;northern Australia into the execution phase. <\/p>\n<div class='d-flex justify-content-center'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>The project is expected to exceed the miner\u2019s required internal rate of return with profitable production and mine life extending beyond 2040, Newmont Goldcorp said. <\/p>\n<p>Newmont <a href=\"https:\/\/www.mining.com\/newmont-begins-production-at-tanami-expansion-project-in-australia\/\"  rel=\"noreferrer noopener\" aria-label=\"began commercial production at the Tanami expansion&nbsp;project (opens in a new tab)\">began commercial production at the Tanami expansion&nbsp;project<\/a> in 2017. <\/p>\n<p>After investing $120 million extending the mine, which Newmont has fully owned and operated Tanami since 2002, the company said it expected an increase of annual production at the operation to between 425,000-475,000 ounces of gold.<\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p> After investing $120 million extending the mine, Newmont has said it expected an increase of annual production at the operation to between 425,000-475,000 ounces of gold <\/p>\n<\/blockquote>\n<\/figure>\n<p>Newmont announced in March&nbsp;that the $245-million&nbsp;power&nbsp;station project for Tanami had been completed.<\/p>\n<p>The additions are expected to provide Tanami with a safe and reliable energy source<a href=\"https:\/\/www.mining.com\/newmonts-tanami-gold-mine-curb-emissions-20-new-power-station\/\"  rel=\"noreferrer noopener\" aria-label=\" while lowering power costs and carbon emission by 20%. (opens in a new tab)\"> while lowering power costs and carbon emission by 20%.<\/a> <\/p>\n<p>The Tanami expansion project is anchored on the<br \/>\nexpansive Auron deposit, which was discovered in 2008, and is located<br \/>\nstratigraphically beneath the original Callie orebody and the Federation and<br \/>\nLiberator discoveries.<\/p>\n<p>Tanami\u2019s orebodies are hosted by reactive<br \/>\nstratigraphic units where high-grade gold mineralization is found at<br \/>\nintersections with structural corridors, Newmont Goldcorp said. <\/p>\n<p>The expansion includes construction of a 1,460<br \/>\nmeter shaft, additional capacity in the processing plant, and supporting<br \/>\ninfrastructure to enable profitable recovery of ore at depth to 2,140 meters<br \/>\nbelow surface.<\/p>\n<p> \u201cBuilding on the success of the first expansion completed in 2017, Tanami Expansion 2 will provide a platform to further explore the area\u2019s prolific mineral endowment and potentially extend the operation\u2019s mine life beyond 2040,\u201d Tom Palmer, Newmont Goldcorp\u2019s CEO said. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Newmont announced in March that the $245-million power station project for Tanami had been completed.<\/p>\n","protected":false},"author":47,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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