Newmont's $800 Million Boost to Argentina's Mining Future

Newmont is set to invest $800 million in Argentina's Cerro Negro mine to expand its operation, promising project extension beyond 2035. The decision, announced by Economy Minister Luis Caputo, aims to enhance operational safety, employment, and regional growth in the area.

Gold mining giant Newmont has announced a significant investment of $800 million earmarked for Argentina's Cerro Negro mine. This major funding intends to restart and expand the Cerro Negro Expansion 1 (CNE1) project, projected to extend the mine's operational life well beyond 2035.

Speaking on Tuesday, Economy Minister Luis Caputo revealed that the investment is designed to bolster the company's operational safety measures. Additionally, this move is expected to stimulate employment and promote regional development, aligning with broader economic goals.

Caputo further emphasized the importance of this investment in a statement on the social media platform X, highlighting its potential to advance both the company's future and the local economy.

(With inputs from agencies.)