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Newmont Suriname Establishes Community Development Fund

Earlier this week, Newmont announced that it had completed construction on the Merian gold mine on time and below budget, bringing the operation into commercial production and opening a prospective new gold district.

In addition to this milestone, the Pamaka Newmont-Community Development Fund (CDF) was recently ratified at Newmont Suriname’s headquarters in Paramaribo by Managing Director, Adriaan van Kersen. Mr. Jozef Amautan and Mr. Adrian Adawde were at the event on behalf of the Pamakan community along with Mrs. I. Rijker, who served as the government representative.

The CDF will be funded by Newmont Suriname and administered by the Pamaka Newmont-Community Development Fund foundation. The fund is managed by a board comprised of two Newmont representatives, two government officials and two members designated by the Traditional Authority of the Pamaka Community.

Newmont Suriname made an initial deposit of $50,000 in to the fund. Subsequent contributions will be based on the needs of the community. Currently, work is being done to make an inventory of needs within the nine Pamaka villages, and a regional development plan is also being prepared.

The CDF’s objective is to finance sustainable projects that contribute to the social and economic development of nine Pamakan villages – Atemsa, Nason, Tabiki Ede, Loka Loka, Pakiratabiki, Skintabiki, Sebedoe Kondre, Badatabiki and Langatabiki.

Establishing the fund is an important part of the Cooperation Agreement signed in June between Newmont Suriname and the Pamakan community, and meets Newmont’s commitment as covered in the Mineral Agreement signed back in November 2013. This agreement also sets mutually agreed targets for local hiring and procurement. At present, more than 200 of Newmont Suriname’s 1,100 employees are Pamakkan.

Priorities and development projects will be established in close collaboration with the Pamakan community and on the basis of a comprehensive regional development plan.

To learn more about our operations in Suriname, take a look at our website: http://bit.ly/1ULPSV9

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