Newmont Corporation (NYSE: NEM) has suspended underground operations at its Cadia gold mine in New South Wales, Australia, following a 4.5-magnitude earthquake late on April 14. The quake, described as light to moderate seismic activity, was accompanied by two aftershocks into the early hours of April 15, prompting the company to prioritize safety and halt activities.
All underground workers were safely evacuated to the surface with no injuries reported. Specialist teams are now conducting detailed inspections of the mine’s underground infrastructure to assess potential damage. Newmont has not yet provided a timeline for resuming operations, leaving uncertainty over the duration of the shutdown at one of Australia’s largest gold and copper producers.
Cadia last year produced 385,000 ounces of gold and 82,000 tonnes of copper, with the mining sitting in the middle of the pack of Newmont’s portfolio in terms of production. Guidance for 2026 suggests that the mine will see a significant reduction in production, with guidance calling for 270,000 ounces of gold and 65,000 tonnes of copper, at an all in sustaining cost of $1,575 per ounce, although expansion is currently underway on site.
As inspections continue, the financial implications of the shutdown remain unclear. No timeline was provided for the resumption of production.
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