Thursday, March 11, 2010

Newmont Mining (NYSE:NEM) Drops Airline on Safety Concerns

Newmont Mining Citylink Contract

Newmont Mining (NYSE:NEM) ended its contract with Citylink in Ghana, along with Goldfields Ghana doing the same, based on safety concerns for their people and equipment after an inspection which led to the ending of the transportation contract.

The safety audit was performed by two independent experts from two different firms, both which found problems and concerns they let the gold mining companies know about.

Citylink authorities defended their record, saying they fly an average of 300 times a month and have never had an incident.

Of course now that the aviation experts made their assessment, if anything were to happen now it would be on the mining companies, forcing them to break the contract as I see it.

Newmont Mining Citylink Contract

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