Changes to the Landscape in 2010
The following are key updates to Newmont's business activities in 2010:
- In April 2010, our direct ownership interest in Batu Hijau decreased from 35.44 percent to 31.5 percent (economic interest decreased from 52.44 percent to 48.50 percent) as a result of the divestiture required under the Contract of Work.
- At our Akyem project in Ghana we initiated land access and completed crop compensation with a full funding decision anticipated in the first half of 2011.
- Environmental Impact Assessment was approved by the government for our Conga Project in Peru. A full funding decision is anticipated in the first half of 2011.
- We recently received the Environmental Permit and the Mining Lease for the Akyem project in Ghana and we are advancing the project toward a full funding decision in the first half of 2011, which would result in production in late 2013 to 2014.
- At our Hope Bay property in Nunavut, Canada, early stage exploration identified around 90 targets in the district. In 2010, Newmont collared the Doris North portal and the decline was at approximately 130 meters in January 2011.
