On May 2, Newmont Mining marked its 95th anniversary since its official incorporation in 1921. “This anniversary is a testament to Newmont’s enduring success,” the company said. “Then as now, our leadership is rooted in our high-quality people and portfolio, our proven strategy, and our track record of meeting commitments.
Our 95th year is an occasion to honor 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,” said Gary Goldberg, president and CEO, Newmont Mining.
Today, Newmont leads the gold sector in value creation by:
- Making operations safer and more efficient – Newmont has reduced its all-in sustaining costs by 24%, 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 noncore asset sales and paid off $1.7 billion in debt 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 5 million oz 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 U.S. and Australia; and
- 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 employs 27,000 employees and contractors, with the majority working at managed operations in the United States, Australia, Ghana, Peru, Indonesia and Suriname. It is the only gold producer listed in the S&P 500 index.
