# Newmont completes shaft construction at Tanami Expansion 2

> Newmont reported shaft construction complete at its Northern Territory expansion and said commercial production was expected in the first half of 2027.

- Topic: Project and operations update
- Subjects: Construction
- Event date: 2026-10-22
- First published on EPC Feed: 2026-10-25T20:55:46.165Z
- Updated: 2026-10-25T20:55:46.165Z
- Countries: Australia
- Page: https://epcfeed.com/news/newmont-completes-tanami-expansion-two-shaft-construction


## Key facts

- Reported milestone: Shaft construction complete
- Expected commercial production: First half of 2027
- Hoisting shaft length: 1,460 metres
- Project processing design: 3.3 million tonnes per year

Newmont reported completion of shaft construction at Tanami Expansion 2 in an update issued on 22 October. The company said the project was advancing ahead of schedule and that commercial production was then expected in the first half of 2027. The update forms part of Newmont’s third-quarter report and project update; the company did not describe the expansion as complete or commercially operating.

Tanami is a Newmont-owned and operated underground mine in the Northern Territory. Newmont’s project information describes the expansion as including a 1,460-metre hoisting shaft and supporting infrastructure designed to process 3.3 million tonnes per year. The company expects the expansion to extend mine life beyond 2040. Its stated production outlook is an increase of approximately 150,000 to 200,000 ounces per year over the first five years, 2028–2032, with operating-cost reductions expected through efficiency improvements. Those are project expectations, not achieved output.

The October release said Newmont was progressing Tanami Expansion 2 ahead of schedule. It also reported that the company produced approximately 1.3 million attributable gold ounces and generated US$1.9 billion of free cash flow during the third quarter across its global portfolio. Those group figures give context to the update but do not describe Tanami alone. The company’s release separately listed project work at Red Chris in Canada and other global sites, which are outside this Australian story.

For EPC and project monitoring, the distinction between completed shaft construction and the broader expansion is material. Newmont’s own Tanami project page identifies the hoisting shaft as one part of a mine-life extension package with processing and supporting infrastructure. The October statement records a project milestone, but does not disclose remaining construction scope, contract packages, total project cost or a revised commissioning schedule more precise than the first half of 2027. Those details remain unknown from the sources reviewed.

The shaft is one enabling element of the broader expansion, not the whole project. Newmont’s Tanami profile describes supporting infrastructure alongside a 1,460-metre hoisting shaft and a design throughput of 3.3 million tonnes a year. The company’s October results release moves the commercial-production expectation to the first half of 2027, while its longer-range production benefit is forecast for 2028–2032; those milestones should not be collapsed into a claim that the mine expansion is already operating.

## Sources

1. [Newmont Reports Third Quarter 2026 Results and Project Updates](https://www.newmont.com/investors/news-release/news-details/2026/Newmont-Reports-Third-Quarter-2026-Results-with-Record-Third-Quarter-Adjusted-Net-Income-Positioned-to-Achieve-Full-Year-Guidance-Provides-Update-on-Red-Chris-Block-Cave-Project/default.aspx). Company release, Newmont Corporation, Published 2026-10-22, Read 2026-10-25.
2. [Tanami](https://operations.newmont.com/australia/tanami/). Reference, Newmont Corporation, Read 2026-10-25.