Newmont, (NYSE: NEM, TSX: NGT) the world’s biggest gold miner, announced Friday that Newmont Peñasquito and the National Union of Mining, Metallurgical, Steel, and Similar Workers of Mexico have agreed on a new Collective Bargain Agreement for 2024-2026.
The new Agreement, Newmont said, reflects the mutual commitment of all parties, is the outcome of open dialogue and safeguards the rights of all workers and provides a solid foundation for continuing operations at Peñasquito.
In 2023, unionized employees at Mexico’s largest gold mine downed tools for over four months, costing Newmont millions of dollars a day.
Newmont pegged the financial impact of the dispute at its Penasquito mine at approximately US$1 million a day in maintenance costs and US$2.7 million a day in lost revenue.
The work stoppage was the third labour dispute at Peñasquito since the company acquired the mine through its merger with Goldcorp Inc. in 2019.
Source: MINING.COM – Read More
