Newmont Mining Corporation (NYSE: NEM) has marked its 95th anniversary since its official incorporation on May 2, 1921.
“This anniversary is a testament to Newmont’s enduring success. Then as now, our leadership is rooted in our high-quality people and portfolio, our proven strategy, and our track record of meeting commitments,” said Gary Goldberg, President and Chief Executive Officer.
“Our 95th year is an occasion to honour and thank the people who have enabled Newmont to create value over generations – our employees, partners, shareholders and host communities. It is also an occasion to renew our commitment to making Newmont an even more profitable and responsible business in the future,” Mr Goldberg added.
Most recently, Newmont has delivered its strategy to lead the gold sector in value creation by:
• Making operations safer and more efficient – Newmont has reduced its all-in sustaining costs by 24 per cent, or double the competitive average, and halved its injury rates to among the lowest in the mining sector over the last three years.
• Strengthening the balance sheet – Newmont has generated $1.9 billion in non-core asset sales and lowered net debt by $2 billion since 2013, resulting in a superior credit rating and a net debt to EBITDA ratio of roughly 1.2, among the lowest in the gold sector.
• Investing in profitable growth – Newmont acquired Cripple Creek & Victor and delivered five million ounces of gold reserves through exploration in 2015; delivered new, profitable gold production at Akyem in Ghana; and is building new mines at Merian, Long Canyon and expansions in the US and Australia.
• Improving environmental, social and governance practices – Newmont was named the mining industry’s sustainability leader by the Dow Jones Sustainability World Index in 2015. The Company has also improved female and national representation in its leadership ranks, and maintained long-standing shareholder support for its governance and compensation systems.
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.