Creating a positive water stewardship legacy in our host communities is important for Newmont’s long-term success and the sustainability of our business.
Our global water strategy, which was implemented in 2014, provides a framework for our regions and sites to become better stewards of water by focusing more broadly on a watershed view and mitigating water risks. It also encourages our employees to link the technical and operational aspects of water management with our long-term strategic and social responsibility objectives.
On this topic, Dr. Elaine Dorward-King, Newmont’s Executive Vice President of Sustainability and External Relations, recently took part in a panel discussion at the American Water Summit in Denver, Colorado. She started the conversation by outlining drivers of water risk, including:
- Rapidly increasing social, political and media concern over industry water performance;
- Increasing pressure on water use due to community in-migration associated with projects;
- Water scarcity and water surplus leading to production constraints and increased costs;
- Competing water uses increasing regional watershed challenges and risks; and
- Increasing financial exposure during mine closure.
Dr. Dorward-King followed up this discussion by explaining how a global water strategy can help address the identified risks. For example, a global water strategy provides a governance framework to support the successful implementation of longer-term water management plans that are developed in partnership with key stakeholders and based on achieving mutually beneficial water objectives.
Lastly, Dr. Dorward-King explained in her presentation that by being transparent with key stakeholders on water, we could prevent unrealistic expectations and identify clear water management roles and responsibilities to allow for proactive and collaborative management rather than costly reactive efforts to remediate impacts.
Read more about Newmont’s water stewardship commitment in our annual sustainability report, Beyond the Mine.