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 approximately 20,000 employees and contractors with operations primarily in five countries 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 was named the mining industry leader in 2015 and 2016.
Newmont’s 100 percent-owned operating assets include the Boddington and Tanami mines in Australia; Ahafo and Akyem operations in Ghana; and in the United States, 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 KCGM in Australia (50 percent); Yanacocha in Peru (51.35 percent); and Merian in Suriname (75 percent).
Newmont’s optimized project pipeline consists of promising growth opportunities in each of its four operating regions.
* As of December 2016. See cautionary statement.
# The Batu Hijau mine in Indonesia was sold on November 2, 2016.
^ Includes the first full year of production at Cripple Creek & Victor in Colorado and a partial quarter of production at Long Canyon in Nevada, which declared commercial production on November 15, 2016.
! Includes nearly a full quarter of production from Merian in Suriname, which declared commercial production on October 3, 2016.
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 guides our approach to becoming the world’s most profitable and responsible gold producer. This strategy is to:
- Secure the gold franchise – by running our existing business more efficiently and effectively
- Strengthen the portfolio – by building a longer-life, lower-cost asset portfolio
- Enable the strategy – through capabilities and systems that create competitive advantage
Our focus on taking our performance to the next level applies to our five strategic pillars that 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 2016, significant changes to the business include:
- Brought the new Merian mine in Suriname into commercial production, on time and $150 million under budget;
- Reached commercial production at the new Long Canyon mine in Nevada two months ahead of schedule and $50 million below budget;
- Completed the Cripple Creek & Victor expansion project, which includes a new mill, a second leach facility and new recovery plant;
- Completed the divestiture of interest in the Batu Hijau mine in Indonesia to PT Amman Mineral Internasional, an Indonesian company;
- Approved full funding for the Northwest Exodus underground extension at the Carlin complex in Nevada;
- Sold 19.45 percent stake in Australian gold mining company Regis Resources LTD;
- Transitioned to new operational leaders in the regions and promoted Tom Palmer to Executive Vice President and Chief Operating Officer;
- Appointed Nancy Buese as Executive Vice President and Chief Financial Officer; and
- Signed a Cooperation Agreement – which details collaborative efforts related to safety, local employment and procurement, small-scale mining, and the establishment of a Community Development Fund – with the Pamaka community that resides near the Merian mine in Suriname.