Newmont confirmed no injuries or infrastructure damage after a seismic event near its Cadia mine, with operations restarting over the weekend.
Newmont Corporation (NEM) reported that all underground personnel were safely evacuated following a seismic event on June 19 near its Cadia operations in New South Wales. The company confirmed no injuries or infrastructure damage after inspections were completed.
Operations resumed over the weekend after a staged restart. Newmont emphasized its priority on workforce safety and well-being. Earlier in June, CIBC lowered its price target on NEM to $175 from $176 while maintaining an Outperformer rating.
The update follows stronger-than-expected Q1 results but incorporates higher expected costs for the second half of the year.