Newmont Corporation (NYSE: NEM) (ASX: NEM) (PNGX: NEM) issued the following statement in response to the Government of Canada’s announcement confirming financial support for the Red Chris Block Cave project:

“Newmont welcomes the Government of Canada’s announcement of a CA$500 million contribution to support the Red Chris Block Cave project. As we advance through our approval process toward a final investment decision, this commitment strengthens the business case for the development of a world-class copper-gold operation.

“Newmont is currently completing a Definitive Feasibility Study for the project. The Red Chris Block Cave is expected to create more than 1,800 jobs during construction, sustain a total approximate workforce of 1,500 peak-season operational roles, and increase Canada’s copper production by an estimated 15 percent.

“The project is expected to extend the life of the current Red Chris mine by approximately 14 years and sets the foundation for decades of potential additional mining. It represents a significant opportunity to create long-term value for Newmont’s shareholders, strengthen critical mineral supply chains, and deliver long-term benefits for local communities, Indigenous partners, British Columbia, and Canada.”