Newmont Mining Corporation (“Newmont”) is a leading gold and copper producer. The Company was founded in 1921 and has been publicly traded since 1925. Headquartered in Greenwood Village, Colorado, Newmont has more than 24,000 employees and contractors with operations in five countries on four continents around the world. Newmont is the only gold company listed in the S&P 500 index. In 2007, the Company became the first gold company selected to be part of the Dow Jones Sustainability World Index. Newmont has remained on the prestigious index every year since and has been named the mining industry leader for the past four years.
Newmont’s 100 percent-owned operating assets include the Boddington and Tanami mines in Australia; Ahafo and Akyem operations in Ghana; and the Cripple Creek & Victor (CC&V) mine in Colorado and four operating complexes (Carlin, Long Canyon, Phoenix and Twin Creeks) in Nevada.
Operations where Newmont owns 50 percent or more and/or is the manager or operator include Kalgoorlie Consolidated Gold Mines (KCGM) in Australia (50 percent); Yanacocha in Peru (51.35 percent); and Merian in Suriname (75 percent).
Newmont’s project pipeline is one of the strongest in the gold sector, including four promising growth opportunities in the execution stage in our Africa, Australia and South America regions.
Our commitment to build a more successful and sustainable business is reflected in our Purpose, Mission, Vision and Values. These articulate the path we will follow into the future and how we will conduct business along the way.
To create value and improve lives through sustainable and responsible mining.
We transform mineral resources into shared value for our stakeholders and lead the industry in shareholder returns, safety, social responsibility and environmental stewardship.
We will be recognized and respected for exceptional economic, social and environmental performance.
Our five core values are the cornerstone of what we believe and what we do:
- Safety – We take care of our safety, health and wellness by recognizing, assessing and managing risk, and choosing safer behaviors at work and home to reach our goal of zero harm.
- Integrity – We behave ethically and respect each other and the customs, cultures and laws wherever we operate.
- Sustainability – We serve as a catalyst for local economic development through transparent and respectful stakeholder engagement and as responsible stewards of the environment.
- Responsibility – We deliver on our commitments, demonstrate leadership and have the courage to speak up and challenge the status quo.
- Inclusion – We create an inclusive environment where employees have the opportunity to contribute, develop and work together to deliver our strategy.
Our business strategy serves as a blueprint for creating sustainable value over the long term. The three pillars of the strategy include:
- Delivering superior operational execution by running our mines safely and efficiently;
- Sustaining a global portfolio of long-life assets by advancing profitable expansions and exploration on four continents; and
- Leading the gold sector in profitability and responsibility by consistently generating superior returns and demonstrating our values in environmental, social and governance performance.
Five strategic pillars form the basis of our business plan; create alignment across regions, sites and functions; and establish the objectives by which we measure our performance:
- Health and safety – working to eliminate all workplace injuries and illness through a focus on fatality prevention, engagement and leadership
- Operational excellence – delivering sustainable cost and efficiency improvements, portfolio optimization and world-class technical fundamentals
- Growth – improving portfolio value and risk profile by progressing promising exploration, project development and inorganic opportunities
- People – achieving a competitive advantage through our people by engaging employees, developing effective leaders and building a more diverse and inclusive workplace
- Sustainability and external relations – managing risks to maximize opportunities and minimize threats and applying leading social and environmental practices
In 2018, significant changes to the business included:
- Completing three profitable expansions, including Twin Underground and Northwest Exodus – where both projects extended mine life and added lower-cost production in the prolific Carlin district in Nevada – and the Subika Underground, which was completed on schedule and within budget, adding higher-grade, lower-cost gold production at the Ahafo mine;
- Investing in exploration and other growth opportunities including:
- The acquisition of a 50 percent interest (Teck Resources having the other 50 percent interest) in the Galore Creek Partnership, a large undeveloped copper-gold project in British Columbia, Canada
- A partnership with Evrim Resources for the Cuale project in Mexico
- Investments in Miranda Gold and Orosur Mining that expand our interests in Colombia
- Selling our royalty portfolio to Maverix Metals Inc., an emerging precious metals royalty and streaming company, in exchange for 60 million Maverix common shares, representing an ownership interest of approximately 28 percent
- Welcoming Sumitomo Corporation as a new partner in the Yanacocha operation following Sumitomo’s purchase of a 5 percent stake in the partnership; and
- Strengthening our leadership through the promotion of Tom Palmer to President and Chief Operating Officer, and electing René Médori as the newest member of our Board of Directors.