New York Stock Exchange-listed Newmont Mining Corporation has published its 2015 sustainability report, Beyond the Mine, in which it planned “generating $6.05 billion in economic value throughout our operating regions, including $1.35 billion in wages and benefits; $433 million in taxes and royalties; and $28 million in community investments.”
The miner, which operates in Ghana and five other countries also planned reducing Total Recordable Injury Frequency Rates (TRIFR) injuries by 18%.
The report details the Company’s safety, economic, environmental and social performance. Last year, Newmont, the first miner to use the UN Guiding Principles Reporting Framework for human rights disclosure, was named the mining industry’s overall leader in sustainability by the Dow Jones Sustainability World Index.
“Our annual sustainability report provides a comprehensive and transparent look at Newmont’s performance against our commitments to create a safe workplace; responsibly manage environmental risks; serve as a catalyst for local development; and foster respectful relationships with our stakeholders,” said Dr. Elaine Dorward-King, Newmont’s Executive Vice President for Sustainability and External Relations in a statement.
“In 2015, we made notable progress in the areas of environmental stewardship and social responsibility, while also generating lasting benefits for the communities near our operations. Thanks to our employees around the globe we continue making progress toward achieving our purpose to create value and improve lives through sustainable and responsible mining,” Dr Dorward-King.
The report details efforts in 2015 to improve Newmont’s sustainability performance, including:
• Reducing Total Recordable Injury Frequency Rates by another 18 percent, a new record low; unfortunately, this was overshadowed by two fatalities at Newmont’s operations highlighting the ongoing need to improve behaviours and controls to achieve zero harm;
• Meeting targets to improve water management and concurrent reclamation planning; however, work to meet our global target for complaints and grievances resolution continues;
• Gathering baseline data to establish targets for local employment and business opportunities;
• Generating $6.05 billion in economic value throughout our operating regions, including $1.35 billion in wages and benefits; $433 million in taxes and royalties; and $28 million in community investments;
• Significantly reducing mercury and sulphur dioxide emissions by replacing the roaster at KCGM in Australia with an ultra-fine grinding mill; and
• Advancing a Sagebrush Ecosystem Conservation Program in Nevada to protect a broad range of local plant and animal species, in partnership with government.
The information and data reported in Beyond the Mine reflects issues identified by Newmont’s stakeholders, the business, and society at large as being the most material and relevant to their needs and concerns. “These issues were identified using a robust process that incorporates the Global Reporting Initiative’s (GRI) principles for defining report content. Newmont’s 2015 sustainability report was compiled in accordance with the GRI’s G4 Core option guidelines and independently assured”, the statement added.
Newmont said the report also reflects its reporting obligations as a founding member of the International Council on Mining and Metals (ICMM) and as an early adopter of the new Reporting Framework for the UN Guiding Principles on Business and Human Rights.
Newmont said it values feedback on the report, or any other aspect of the Company’s sustainability performance, and invites readers to complete a confidential online survey.
Newmont is a leading gold and copper producer. The Company employs approximately 27,000 employees and contractors, with the majority working at managed operations in the United States, Australia, Ghana, Peru, Indonesia and Suriname. Newmont is the only gold producer listed in the S&P 500 index and was named the mining industry leader by the Dow Jones Sustainability World Index in 2015. The Company is an industry leader in value creation, supported by its leading technical, environmental, social and safety performance. Newmont was founded in 1921 and has been publicly traded since 1925. It is currently the second biggest gold producer in the world.