Newmont puts Hope Bay gold project on hold
Newmont Mining Corporation is putting its plans for the Hope Bay gold project near Cambridge Bay, Nunavut, on hold.
Last month, the company announced expanded plans for its project that would have meant new airstrips, all-weather roads, hundreds of jobs, and a new Inuit Impact and Benefit agreement with the Kitikmeot Inuit Association.
The company announced Tuesday that all work will be postponed indefinitely while the project is under review.
Chris Hanks, vice-president of Environmental Affairs for Hope Bay Mining, a Newmont subsidiary, said in a news release that employees, contractors, government officials and regulatory bodies have been or are being notified.
The company has approved "care and maintenance funding" for the Hope Bay site.
They'll leave a skeleton crew in place to meet environmental and safety standards while work is at a standstill.
