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Newmont reaches 1Moz mark at Merian

Newmont (NYSE:NEM) has reached a milestone at its 75%-owned Merian gold mine in east Suriname, pouring 1 million ounces of gold.
Newmont reaches 1Moz mark at Merian Newmont reaches 1Moz mark at Merian Newmont reaches 1Moz mark at Merian Newmont reaches 1Moz mark at Merian Newmont reaches 1Moz mark at Merian

Newmont has poured its one millionth ounce at the Merian mine in Suriname

Staff reporter

The milestone comes two years after commercial production started on October 1, 2016, when the mine was built on time and around 20% under budget for US$525 million.

This year, the company completed the second phase of the mine, including the construction of a primary crusher to process harder ore as the mine gets deeper, on time and within budget.

The Merian mine has a mine life of about 15 years.

Newmont's shares dropped 0.56% Wednesday to $32.11 per share.