Newmont reaches preliminary agreement with union to end strike at Peñasquito

- The world’s top gold producer Newmont said today it has reached a preliminary agreement with the National Union of Mine, Metal, and Allied Workers of the Mexican Republic aiming to end the strike initiated by the union on June 7, 2023 at the Peñasquito mine.

According to the company’s statement, the preliminary agreement was ratified by the general assembly of the union on October 5, 2023. “This preliminary agreement is intended to be formalized into a definitive agreement, which the parties will have to agree, approve, sign, and file with the Federal Labor Tribunal for Collective Affairs in Mexico City for final approval,” Newmont said.

Newmont added that this process is expected to conclude in the coming days, which would bring the strike to an end and enable the company to start the execution of the return to work plan to ensure a safe restart of operations. Peñasquito, located about 780 kilometres northwest of Mexico City, produces gold, silver, lead and zinc. There’s an airport on site, and a 1,900-bed camp with full dining, laundry and recreational facilities. Peñasquito is the world’s second largest silver producing operation.

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