Newmont Commits $800M to Extend Cerro Negro Mine Life

Argentine Economic Minister Luis Caputo confirmed the arrangement, highlighting its economic significance.

SEATTLE (Scrap Monster): Newmont Corporation has committed approximately $800 million to extend the life of its Cerro Negro gold mine in Argentina beyond 2035, leveraging a record $7.3 billion in free cash flow generated in 2025. The strategic investment underscores the miner’s long-term confidence in its South American portfolio and disciplined capital allocation strategy.

ALSO READ:

Newmont Announced First Gold Pour at Ahafo North Project in Ghana

Newmont Finalized Sale of Akyem Gold Mine to Zijin Mining

The company’s strong liquidity position enables it to fund major development initiatives without external financing. Newmont reported record annual free cash flow of $7.3 billion for full-year 2025, reinforcing its balance sheet and providing flexibility to advance high-return projects across its global asset base. The Cerro Negro reinvestment aligns with its 2026 capital framework, which balances sustaining capital expenditures with growth-oriented developments.

Under the Cerro Negro Expansion 1 (CNE1) project, the $800 million injection will support the restart and expansion of operations, enhance safety standards, and strengthen regional employment. Argentine Economic Minister Luis Caputo confirmed the arrangement, highlighting its economic significance.

• Rumford paper mill owners face lawsuit after employee falls 85 feet down chimney
• Informal e-waste recycling risks community health
• Global Plastic Recycling Market to Hit $60.2B by 2031
• Poland's Ferrous Scrap Exports Fall; Ukraine Imports Hit Record