Newmont to invest $800 million in Argentina’s Cerro Negro
Gold producer Newmont will invest approximately $800 million in Argentina’s Cerro Negro mine, the country’s Economy Minister, Luis Caputo, said on Tuesday.
The investment will be used to restart and expand the Cerro Negro Expansion 1 (CNE1) project, which aims to extend the mine’s operational life beyond 2035.
“This investment aims to strengthen the company’s operational safety, boost employment, and promote regional development,” Caputo wrote in a post on X.
On Feb. 19, Newmont reported gold Mineral Reserves of 118.2 million attributable ounces at the end of 2025 compared to 134.1 million attributable ounces at the end of 2024, mainly driven by the divestment of assets in 2025. Newmont’s portfolio includes significant reserves from other metals, including 12.5 million attributable tonnes of copper reserves and 442 million attributable ounces of silver reserves.
“In 2025, Newmont maintained its position of having the industry’s largest gold reserve base, declaring 118 million ounces of reserves, representing decades of production life with meaningful upside,” said Natascha Viljoen, Newmont’s President and Chief Executive Officer. “Through the disciplined application of technical rigor in our leading exploration program, we remain focused on extending mine life, discovering new opportunities, and unlocking value across our world-class portfolio of operations and projects.”
