Name of the Project
Red Chris block cave project.

Location
The Golden Triangle of British Columbia, Canada.

Project Owner/s
Newmont (70%) and Imperial Metals Corporation (30%), through an unincorporated joint venture (JV). Newmont acquired Newcrest Mining on November 6, 2023, thereby acquiring Newcrest’s interest in Red Chris.

Project Description
Red Chris is an operating openpit gold and copper mine that started production in 2015 and has the potential to become a multidecade producer through development of the block cave project. 

As at the end of the 2025 financial year, Red Chris had gold reserves of 3.6-million ounces and copper reserves of 0.9-million tonnes, as well as gold resources of 4.4-million ounces and copper resources of 1.3-million tonnes.

Newmont is completing a definitive feasibility study (DFS) and detailed cost estimate for the transition from the current openpit operation to an underground block cave mine. The regulatory approvals announced in June 2026 allow for the transition to block caving and are expected to extend the mine life into the mid-2040s. 

The mine will comprise macro blocks (MBs) 1, 2 and 3, which will be sequentially mined.

The PFS includes upgrades to the existing processing plant to treat underground ore at a throughput of 13.6-million tonnes a year, which would require an additional coarse-ore stockpile, a new semiautogenous grinding mill, additional rougher flotation capacity using StackCell technology, an upgraded regrind circuit, a new cleaner-scalping Jameson Cell and the duplication of existing concentrate thickening and filtration equipment.

Total ore production from the project is estimated at 406-million tonnes, producing 4.9-million ounces of gold and 1.5-million tonnes of copper.

Newmont has indicated that the mineral endowment offers further potential beyond the initially permitted phase. It expects the project to increase Canada’s copper production by about 15%.

Potential Job Creation
The project is expected to create more than 1 800 construction jobs and sustain about 1 500 peak-season operating roles.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Newmont is completing a detailed cost estimate.

Planned Start/End Date
Newmont is advancing the project towards a final investment decision later in 2026. The approved transition to block caving is expected to extend the mine life into the mid-2040s.

Latest Developments
Imperial Metals has confirmed it will receive $500-million from the government of Canada to advance the block cave transition under the Canada-British Columbia Cooperative Prospectivity Agreement.

As the Red Chris JV advances through the in-house approval process towards a final investment decision, this commitment strengthens the business case for project development. 

Newmont Corporation is completing a definitive feasibility study. 

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Newmont, tel +1 604 558 1784 or email investor.relations@newmont.com.