Nevada Gold Mines, the joint venture formed in July 2019 by industry leaders Barrick and Newmont, is maturing rapidly, with a high-confidence 10-year plan in place and the focus shifting to a 15-year plan. The world’s largest gold mining complex, NGM is majority-owned and operated by Barrick.
Mineral Resource Manager for North America, Grigore Simon, says rapid progress in improving orebody knowledge has opened up resource growth and exploration opportunities, notably at North Leeville, Ren, Robertson, Turquoise Ridge and Carlin. The integrated leadership team has also continued to realize the value-creating synergies presented by the joint venture through reallocating resources between mine sites, and sharing skills and equipment to maximize returns.
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At the same time, NGM has been reinforcing its social licence to operate by building strong relationships with its local communities, the counties, the state and the federal agencies. Community support initiatives include the Elko broadband project, which will bring reliable high-speed internet services to an area with some of the lowest connectivity in the USA. Another is the I-80 Fund.
Originally established to provide relief to small businesses impacted by Covid-19, it has since evolved into a rural development fund to stimulate economic growth in Northern Nevada. NGM’s Heritage Fund matches employee and company contributions to fund essential programs and services prioritized by employees.
To ensure that community needs are being met, advisory groups consisting of local stakeholders have been formed to nominate development projects for investment by NGM.
“These community development committees provide a forum for two-way engagement between stakeholders and NGM, and to forge mutually beneficial partnerships working together to build long-term economic sustainability in these regions,” says Alissa Wood, head of communities and corporate affairs.
NGM has a strong track record in environmental remediation and reclamation, and is a committed custodian of Nevada’s unique lands, waters, flora and fauna. In support of the state’s carbon-reduction objectives, NGM is converting its TS coal power plant to a dual fuel process which will enable it to generate power from natural gas.
The conversion will allow NGM to eliminate 563,000 tonnes of carbon dioxide equivalent emissions per year. Its clean energy strategy also includes the installation of over 200MW of solar power. Together, these have the potential to reduce NGM’s emissions by 20% by 2025 — the equivalent of taking around 150,000 cars off the road.
NGM is currently gearing up for its first virtual investor site visit and information day, which will take place on May 25, 2021.