Newmont’s Red Chris Block Cave Project Receives Major Regulatory Approvals

Key Terms

block caving technical

Block caving is a large-scale underground mining method where miners undercut a section of ore so the weight of the rock above causes it to break and collapse into a collection area for retrieval, similar to undermining a sandcastle so the top falls in and can be scooped out. It matters to investors because it can unlock low-cost, high-volume production from massive ore bodies but requires large upfront investment, long lead times, and careful risk and environmental management.

environmental assessment certificate regulatory

An environmental assessment certificate is an official document showing that a project or operation has passed a government review of its likely effects on air, water, wildlife and local communities. Think of it like a safety inspection for a building: it signals whether work can proceed, what limits or fixes are required, and what ongoing monitoring is needed. Investors care because the certificate affects whether a project can move forward, how much it will cost, the timing of returns, and the risk of fines, delays or reputational damage.

mines act permit regulatory

A mines act permit is a government authorization required to explore, develop or operate a mine under a jurisdiction’s mining laws, setting conditions for safety, land use, environmental protection and worker welfare. For investors it matters because the permit determines whether a project can legally produce revenue, how quickly operations can start, and what ongoing costs or restrictions will apply — like having both a driver’s license and a building permit before you can safely and legally use a vehicle and occupy a new house.

definitive feasibility study technical

A definitive feasibility study is a detailed, near-final assessment that shows whether a proposed project—often a mine, infrastructure or major industrial venture—can be built and operated profitably. It combines precise engineering plans, realistic cost estimates, production schedules and risk analysis to give lenders and investors a clear picture of expected returns and potential pitfalls, like a full blueprint and budget that helps decide whether to greenlight financing and construction.

final investment decision financial

A final investment decision is the point at which a person or organization chooses to move forward with a particular project or purchase after reviewing all the necessary information and options. It is like deciding to buy a house after considering all the costs, benefits, and alternatives. This decision is important because it determines whether and when the investment will be made, impacting future financial plans and outcomes.

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DENVER--(BUSINESS WIRE)-- Newmont Corporation (NYSE: NEM, ASX: NEM, PNGX: NEM) (“Newmont”) welcomes the Province of British Columbia’s approval of key regulatory authorizations for the Red Chris Block Cave project. The approvals enable the transition of the Red Chris Mine from current open-pit operations to block caving, allowing an extension of mine life into the mid-2040s. They mark a significant milestone in stage-gating as Newmont advances toward a final investment decision (FID) later this year.

Newmont's Red Chris Mine is in the Golden Triangle of British Columbia.

The Province’s approvals include an amended Environmental Assessment Certificate (EAC), achieved through a consent-based process with the Tahltan Nation, as well as an amended Mines Act permit. The Red Chris mineral endowment offers decades of further upside potential beyond this initially permitted phase.

“The Red Chris Block Cave project represents a compelling long-term opportunity and today’s approvals mark a significant milestone in stage-gating as Newmont progresses toward a final investment decision later this year,” said Natascha Viljoen, President and Chief Executive Officer. “With significant mineral endowment, availability of clean hydroelectric power, port access, supportive governments, and strong Indigenous economic leadership, northwest British Columbia is emerging as a world-class mining district. We are proud to have advanced this project through a consent-based framework with the Tahltan Nation, reflecting our shared commitment to responsible resource development.”

Newmont is completing a Definitive Feasibility Study and detailed cost estimate for the Red Chris Block Cave. The project is expected to generate over 1,800 construction jobs, sustain approximately 1,500 peak-season operating roles and increase Canada’s copper production by roughly 15 percent.

In northwest British Columbia, Newmont is the majority owner and operator of the Red Chris Mine with Imperial Metals, its 30 percent joint venture partner. Newmont is also the owner and operator of the Brucejack Mine, and a 50 percent owner of Galore Creek Mining Corporation.

About Newmont

Newmont is the world’s leading gold company and a producer of copper, zinc, lead, and silver. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the Company has been publicly traded since 1925. To learn more about Newmont’s sustainability strategy and initiatives, go to www.newmont.com.

Cautionary Statement Regarding Forward-Looking Statements

This news release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. Forward-looking statements in this news release include, without limitation, expectations regarding mine life estimates, extension of mine life, upside potential, job creation and job opportunity estimates, production and productivity estimates and improvements, timing of investment decisions and other statements regarding future events or results. For a discussion of risks and other factors that might impact future looking statements, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission on February 19, 2026, under the heading Risk Factors. The Company does not undertake any obligation to release publicly revisions to any “forward-looking statement,” to reflect events or circumstances after the date of this news release, except as may be required under applicable securities laws. Continued reliance on “forward-looking statements” is at investors’ own risk.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260619580324/en/

Media Contact – Canada
Keivan Hirji
+1 778-834-0688
keivan.hirji@newmont.com

Investor Contact – Global
Neil Backhouse
investor.relations@newmont.com

Source: Newmont