- 2014 Performance
- Future Focus
Community investments – particularly ones that are well designed and align with both Newmont’s business strategy and the communities’ development priorities – are important and effective ways to catalyze long-term socio-economic development.
Our commitment to engage with host communities to create shared value is stated in our Sustainability and Stakeholder Engagement Policy. Guiding our approach to equitably improve quality of life and align with our principles of transparency and shared value is our Community Investment and Development Standard.
This standard requires sites to use existing baseline studies, assessments and government development plans, along with robust community engagement, to identify investment opportunities that are a catalyst for self-determined development.
Each site collaborates with relevant stakeholders to develop a community investment strategy that identifies each opportunity, along with the resources needed to deliver on the commitment. Preferably, we partner with NGOs and government agencies that are able to lend expertise and create oversight mechanisms to ensure programs effectively address local development challenges and are sustainable after our operations close. Each site must review and update its strategy a minimum of every five years.
In addition to the direct investments our operations make toward community infrastructure and social programs, many of our operations – in Ghana, Indonesia, Peru and Nevada – have established community foundations or funds that aim to provide an effective, strategic framework to ensure community investments deliver on their full potential. While each foundation or fund is unique and driven by the specific needs of the community, investments generally focus on capacity building, community health and education, infrastructure development and livelihood and skills building.
For all cash or in-kind contributions, a transparent process is used with each contribution documented and reviewed to ensure compliance with the Partnering Against Corruption Initiative (PACI), Foreign Corrupt Practices Act (FCPA) and UK Bribery Act requirements.