Newmont Goldcorp suspends payments to villages near Mexico mine in response to blockade GlobeBusiness
The open-pit mine, in northern Zacatecas state, produced 272,000 ounces of gold in 2018, company figures show. It accounts for about 17 per cent of Newmont Goldcorp’s net asset value, according to Scotiabank.Michael Harvey, director of corporate affairs in Mexico for the mining company said the suspension of payments, first announced in a newspaper advertisement on Monday, began to take effect on Tuesday.
Among the programs being cut are grants, productive projects, trusts and social investments, the company said. Mining companies around the world seek to earn the support of villages and towns near their mines by contributing to local development projects.
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