Newmont Seeks To Extend Largest Australian Mine Until 2050

Leading gold miner Newmont (NYSE:NEM) has applied to extend the permit for its Cadia operation, Australia's largest underground mine, until 2050.

Located near Orange in New South Wales (NSW), Cadia plays a significant role in Newmont's portfolio and the Australian mining sector. It produces nearly 600,000 ounces of gold and a large share of the country's copper.

Per Central Western Daily, extending Cadia's operations would generate significant regional benefits, providing over 2,100 full-time jobs and helping hundreds of regional suppliers. The mine's economic contribution is substantial, as the company spends around $135 million annually on employee salaries.

"The extension of Cadia's operations would be a tangible boost for responsible mining that contributes to global net zero goals, local ...