Exclusive: Newmont declares force majeure on metal products from Mexico's Peñasquito

Newmont has declared force majeure on deliveries of some metal products from its Peñasquito mine in Mexico, the U.S.-listed miner told Reuters, citing strike action as a constraint on output.

A small toy figure and gold imitation are seen in front of the Newmont logo in this illustration taken November 19, 2021. REUTERS/Dado Ruvic/Illustration/File Photohas declared force majeure on deliveries of some metal products from its Peñasquito mine in Mexico, the U.S.-listed miner told Reuters, citing strike action as a constraint on output.

Companies declare force majeure when unexpected circumstances prevent them from meeting contract obligations. demanding an increase in the profit-sharing benefit provided for in the Collective Bargaining Agreement from 10% to 20%, the company said.

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