Newmont to build Phase 1 of Long Canyon mine

US gold producer Newmont Mining will build the first phase of Long Canyon, an oxide gold mine with significant upside potential in an emerging gold district located about 160 km from the company's existing Nevada operations. NYSE-listed Newmont said the first phase of development would comprise an openpit mine and a heap-leach operation, with expected gold output of between 100 000 oz/y and 150 000 oz/y over an eight-year mine life, at an estimated all-in sustaining cost of between $500/oz and $600/oz.