Newmont has partnered with the Royal Canadian Mint to release a new single-mine gold maple leaf bullion coin.
The 2023 single-mine 99.99 per cent pure bullion coin is entirely sourced from Newmont’s Éléonore gold mine in northern Québec.
Newmont said the coin was released in response to increased market demand for greater transparency about the origins of precious metals.
With a price tag of $50, the special coin will soon be available through the Mint’s network of official bullion distributors.
“With this new single mine coin, made of directly traceable gold from Newmont’s Éléonore mine to our gold refinery in Ottawa, we are demonstrating continued excellence in terms of precious metal sourcing, refining and manufacturing,” Royal Canadian Mint president and chief executive officer Marie Lemay said.
Newmont president and chief executive officer Tom Palmer said the company’s employees at Éléonore and across the globe take great pride in creating value and improving lives through sustainable and responsible mining.
“As the world’s recognised sustainability leader in gold mining, Newmont is honoured to supply the gold for the Royal Canadian Mint’s pure gold maple leaf single-sourced coin from our Éléonore mine in Québec,” he said.
Located in Eeyou Istchee on the traditional territory of the Cree Nation of Wemindji, Éléonore is a remote fly-in, fly-out operation, currently one of the largest in Québec.
Having first achieved commercial production in 2015, Éléonore currently produces upwards of 260,000 ounces of gold per year.
The mine’s commitment to sustainable mining practices and strong community partnerships have earned Éléonore a reputation as a leading responsible operator.
As the lowest-emitting mine in the Newmont portfolio, Éléonore is powered exclusively by hydroelectricity.
The coin’s release follows international credit rating agency Fitch awarding Newmont a first-time, long-term issuer default rating of A- on Tuesday 3 October.
“The ratings from Fitch recognise Newmont’s ongoing financial strength and flexibility, which is supported by our proven strategy and industry leadership position,” Palmer said.