DENVER--(EON: Enhanced Online News)--Newmont Mining Corporation (NYSE:NEM) (Newmont or the Company) today published Beyond the Mine, the Company’s annual report on its progress toward achieving its purpose – to create value and improve lives through sustainable and responsible mining.
“Building a healthier, safer and more environmentally sound and socially responsible business is embedded in our long-term business strategy and our values”
“Building a healthier, safer and more environmentally sound and socially responsible business is embedded in our long-term business strategy and our values,” said Elaine Dorward-King, Newmont’s Executive Vice President for Sustainability and External Relations. “Each year, we transparently report on our progress toward meeting this commitment and on where we have room for improvement. I am proud of the recognition our team earned last year from reputable sustainability performance benchmarks, such as the Dow Jones Sustainability Index, and even more proud that we continue to push ourselves to do better. Our future goals to reduce freshwater use, lower greenhouse gas emissions intensity, achieve gender equality in leadership ranks, and contribute toward the United Nation’s Sustainable Development Goals demonstrate our desire to make an even greater, positive impact.”
Newmont’s 2016 sustainability highlights include the following:
- Experiencing no fatalities at any Newmont site or facility during the year and reducing the number of serious injuries by 75 percent;
- Generating $5.8 billion in economic value throughout our operating regions, including $1.3 billion in wages and benefits, nearly $400 million in taxes and royalties and $16 million in community investments;
- Collaborating with federal and state agencies in the United States on an unprecedented agreement governing our management of more than 1.5 million acres of sagebrush habitat in Nevada;
- Advancing the Company’s human rights strategy through human rights impact assessments, a new artisanal and small-scale mining engagement strategy, and an independent study related to free, prior and informed consent (FPIC) of indigenous peoples;
- Implementing a Supplier Code of Conduct that commits suppliers to ethical, safe, and socially and environmentally responsible conduct; and
- Being named, for the second year in a row, the mining industry leader on the Dow Jones Sustainability World Index (DJSI), and achieving both Gold Class and Industry Mover distinctions in RobecoSAM’s 2017 Sustainability Yearbook, which is based on the assessment used to determine the DJSI scores.
The report also discusses challenges Newmont addressed during the past year including:
- Maintaining one of the lowest injury rates in the industry but falling short of the Company’s goal to further reduce injury rates, and missing targets to increase aboriginal hiring at one site and complete water management action plans at two others;
- Publishing the findings of an independent examination of the issues associated with a complex land dispute between the Company’s Yanacocha operation and the Chaupe family in Peru; and
- Updating the reclamation plan for Yanacocha, which resulted in a significant increase in the Company’s estimated future closure costs.
The report, which was compiled in accordance with the Global Reporting Initiative’s G4 Core option and independently assured, reflects Newmont’s reporting obligations as a founding member of the International Council on Mining and Metals (ICMM) and as an early adopter of the UN Guiding Principles Reporting Framework, the first comprehensive guide for reporting on human rights risks.
The full report is available at www.beyondthemine.com.
Newmont values feedback on the report and the Company’s sustainability performance, and invites readers to complete a confidential online survey.
Newmont is a leading gold and copper producer. The Company’s operations are primarily in the United States, Australia, Ghana, Peru 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 and 2016. 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.