Newmont Has Declared Force Majeure On Deliveries Of Some Metal Products From Its Peñasquito Mine In Mexico
Portfolio Pulse from Charles Gross
Newmont Corporation has declared force majeure on deliveries of some metal products from its Peñasquito mine in Mexico due to unforeseen circumstances.
June 23, 2023 | 9:11 am
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NEGATIVE IMPACT
Newmont's force majeure declaration on its Peñasquito mine in Mexico may have a minor negative impact on the iShares MSCI Mexico ETF (EWW).
Newmont's Peñasquito mine is located in Mexico, and the force majeure declaration may have a minor negative impact on the iShares MSCI Mexico ETF (EWW) as it represents a portion of the Mexican market. However, the overall impact is expected to be limited due to the diversified nature of the ETF.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 30
NEGATIVE IMPACT
Newmont's declaration of force majeure on metal deliveries from its Peñasquito mine may negatively impact its short-term revenues.
Newmont's declaration of force majeure on deliveries from its Peñasquito mine indicates unforeseen circumstances that may disrupt its supply chain and negatively impact its short-term revenues. As a result, the stock price may face downward pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100