- Newmont today announced it will defer the full-funds investment decision for the Yanacocha Sulfides project in Peru for at least two years to advance its portfolio optimization strategy designed to maximize returns for shareholders and create long-term value for other stakeholders.
According to a company statement, the deferral of the full-funds investment decision results in a reduction of development capital expenditures, including an estimated $300 million included in Newmont's outlook for 2024. "The deferral of the Yanacocha Sulfides project represents the first step in delivering on this target, as we evaluate further opportunities to resequence project capital and rationalize the combined portfolio to build a more profitable and resilient future for the business," he added.