Newmont Goldcorp, dignitaries inaugurate Borden Mine

Press release

September 23, 2019

Newmont Goldcorp Corps. Borden Gold Project in Ontario, Canada has been called the mine of the future as it features state-of-the-art health and safety controls, digital mining technologies and processes, and low-carbon energy vehicles – all anchored in a mutually beneficial partnership with local communities.

On Sept. 23, dignitaries from across Ontario, Canada inaugurated the Borden Gold Project that is expected to achieve commercial production in the fourth quarter of this year.

“Borden opens a new gold mining district in Ontario and profitably extends operations at the Porcupine complex near Timmins,” said Tom Palmer, Newmont Goldcorp’s president. “In addition, Borden’s electric underground fleet will eliminate diesel particulate matter from the underground environment and lower greenhouse gas emissions. This will help reduce energy costs, protect employee health and minimize impacts to the environment.”

Ore from Borden is processed at the existing mill at the company’s Porcupine operation in Timmins, 180 km to the east. Borden is fully permitted for operation, and partnership agreements have been signed with local First Nations. At 1,000 km2, Borden’s land package represents additional exploration upside as the Borden deposit remains open at depth.

Participating in Borden’s inauguration were: The Honorable Greg Rickford, Ontario’s Minister of Energy, Mines, Northern Development and Indigenous Affairs; Gilles Bisson, MPP for Timmins; Chief Keeter Corston, Chapleau Cree First Nation; Chief Anita Stephens, Chapleau Ojibwe First Nation; Chief Cheryl St. Denis, Brunswick House First Nation; Chief Pat Tangie, Michipicoten First Nation; Michael Levesque, Mayor of Chapleau; George Pirie, Mayor of Timmins; Todd White, Newmont Goldcorp’s regional senior vice president for North America and Marc Lauzier, general manager, Porcupine and Borden Mines.

In recognition of Borden’s contribution to the future of safe and sustainable mining, the Canadian and Ontario governments each granted CAD$5 million towards electrification of the mine.

Over the last six years, Newmont has successfully built 11 new mines, expansions and projects on four continents – on or ahead of schedule and at or below budget. These projects include Akyem and the Phoenix Copper Leach in 2013, the Turf Vent Shaft in 2015, Merian and Long Canyon in 2016, the Tanami Expansion in 2017, and Twin Underground, Northwest Exodus and Subika Underground in 2018, and the Tanami power project in 2019. The company also completed a value-accretive acquisition of Cripple Creek and Victor in 2015 and delivered a profitable expansion at the mine in 2016.

Newmont Goldcorp has the strongest and most sustainable portfolio of operations, projects and exploration prospects in the gold sector. This includes the largest reserves and resources, with 90 percent of reserves located in the Americas and Australia. These assets allow the company to sequence profitable projects in its unmatched pipeline to sustain six to seven million ounces of steady gold production over a decades-long time horizon.
 

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