Story perspectives

Newmont Restarts Cerro Negro After Suspension Lifted, Plans $860M Expansion

By Drooid · Sep 17, 2026, 2:12 AM UTC · How we work

Summary

Story summary

Newmont Corp resumed operations at the Cerro Negro gold deposit after the provincial suspension was lifted.
Newmont announced an US$860 million investment to extend Cerro Negro’s life beyond 2038.
Newmont will spend US$60 million to develop a new open-pit area that should create about 100 jobs.
Newmont expects the expansion to produce roughly 220,000 oz of gold in 2026.
Newmont said a stable, predictable operating environment is essential for long-term investment and employment.

History

Historical Context

Yanacocha, the South American largest gold mine in Cajamarca, operates under a joint venture formed in 1999 between Newmont (51%), Buenaventura (44%) and the IFC (5%). After the 2012 Conga protests that left five dead, the mine’s continued expansion illustrates how Peru’s regulatory approvals have enabled multi-billion-dollar investments, producing about 0.97 million ounces in 2014.

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Story summary

Newmont Corp resumed operations at the Cerro Negro gold deposit after the provincial suspension was lifted.
Newmont announced an US$860 million investment to extend Cerro Negro’s life beyond 2038.
Newmont will spend US$60 million to develop a new open-pit area that should create about 100 jobs.
Newmont expects the expansion to produce roughly 220,000 oz of gold in 2026.
Newmont said a stable, predictable operating environment is essential for long-term investment and employment.

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