Newmont flags job cuts at Waihi gold mine on surging operational costs

Tue, 25 Sep 2012

By Paul McBeth Sept. 25 (BusinessDesk) - Global gold miner Newmont plans to scale back its exploration at its Waihi site in New Zealand's Coromandel Peninsula and expects to lay off 20 staff and contractors as operational costs surge faster than gold prices in recent years. Newmont Waihi Gold is consulting with staff and contractors about its global restructuring programme which it expects to finish on Oct. 2, it said in a statement. About 20 staff and contractors will be affected by the cuts, and some are being offered roles at other Newmon...

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