• At Newmont, one of our core values is to act with integrity, trust and respect.
  • Newmont employees will demonstrate leadership in safety, stewardship of the environment and social responsibility.

Colonel William Boyce Thompson founded the Newmont Company in 1916 as a holding company for private acquisitions in oil and gas, mining and minerals enterprises. Thompson named the company "Newmont" because, as one biographer described it, "he grew up in Montana and made his money in New York."

Publicly traded on the New York Stock Exchange since 1940, Newmont Mining Corporation has spent nearly 90 years primarily in the natural resources industry - mining gold, copper, silver, lead, zinc, lithium, uranium, coal, nickel and aggregates, even dabbling in oil and gas. Today, as one of the world's leading gold companies, Newmont's around 32,000 employees and contractors operate on five continents in eight countries across the globe.

Demonstrating leadership in safety, stewardship of the environment and social responsibility as one of our guiding values, Newmont was included in the esteemed Dow Jones Sustainability World Index (DJSI) for the third consecutive year, and listed on both the DJSI North America and the DJSI World in 2008. The DJSI independently evaluates companies' long-term economic, environmental and social performance, publicly identifying the top 10 percent of performers in areas of sustainability.

Utilizing our financial strength and flexibility, combined with project development and operational expertise, our vision is to be the most valued and respected mining company through industry leading performance.

 

 

 

Timeline

Use the slider on the left to explore our history by decade

2013

Gary J. Goldberg succeeds O’Brien as CEO. Goldberg was appointed President and Chief Operating Officer in July 2012, having previously served as Executive Vice President and Chief Operating Officer since December 2011.

2011

On April 7, Newmont announces industry’s first gold-price linked dividend.

In September, gold closes at an all-time (nominal) high of $1,895 per ounce.

2008

Newmont acquires Miramar Mining Corporation and its world-class Hope Bay project in the Canadian Arctic, one of the largest undeveloped gold deposits in the world.

On March 13, gold breaches the $1,000 an ounce mark for the first time in history.

2007

After more than six years as CEO, Wayne Murdy retires and is succeeded by Richard O'Brien, who joined the company as CFO two years earlier.

The price of gold surpasses $850 an ounce for the first time since 1980.

After more than six years as CEO, Wayne Murdy retires and is succeeded by Richard O'Brien, who joined the company as CFO two years earlier.

O'Brien eliminates Newmont's 1.5 million ounce legacy hedge book and monetizes its royalty portfolio to reinvest in Newmont's core gold business.

Newmont is listed on the Dow Jones Sustainability World Index,the premier sustainability index tracking the performance of 2,500 leading companies, worldwide.
2006

Leeville, Newmont's newest underground mine, begins production on the Carlin Trend.

Leeville, Newmont's newest underground mine, begins production on the Carlin Trend.

Earnings set a record at $791 million, or $1.75 a share on revenue of $5 billion.

Production begins on the first of two projects in Ghana on land acquired in the Normandy merger.
2004

After considering selling its Ghanaian interests acquired through the Normandy merger, Newmont discovers a major gold district there defining 16 million equity ounces of gold.

2002

In a challenging three-way merger, Newmont acquires Normandy Mining of Australia and Franco-Nevada of Canada, becoming the world's largest gold producer.

In a challenging three-way merger, Newmont acquires Normandy Mining of Australia and Franco-Nevada of Canada, becoming the world's largest gold producer. Newmont holds this position until 2006, when Barrick acquires Placer Dome.

Pierre Lassonde, who co-founded Franco-Nevada with Seymour Schulich in 1982, is appointed Newmont's president, where he remains until his resignation in 2007.
2000

Wayne W. Murdy, Newmont's CFO since 1992, succeeds Cambre as CEO, and is appointed chairman in 2002. Newmont acquires Battle Mountain Gold.

1999

As the gold price drops to a 20-year low, Newmont moves to maximize production at Yanacocha and hedges some of its future gold production.

As the gold price drops to a 20-year low, Newmont moves to maximize production at Yanacocha and hedges some of its future gold production.

Production begins at the Batu Hijau copper and gold mine, putting Newmont in the copper business again for the first time in 12 years.
1998

Newmont Mining Corporation completes the tax-free merger with Newmont Gold Company, acquiring the remaining 6.25 percent.

Newmont Mining Corporation completes the tax-free merger with Newmont Gold Company, acquiring the remaining 6.25 percent. This is the final step in the consolidation process between Newmont Mining and Newmont Gold that began in 1994. Up to this point, both companies maintained separate listings on the New York Stock Exchange.

Newmont formally dedicates its technical facility in Englewood, Colo., naming it the Malozemoff Technical Facility, marking its one year anniversary. After moving from Salt Lake City, the new technical facility is home to Newmont's geophysical, metallurgy, microbiology, analytical and mineralogy departments.
1997

Minera Yanacocha pours its millionth ounce of gold, becoming the largest gold producer in South America.

1996

Newmont celebrates its 75th anniversary.

Newmont celebrates its 75th anniversary.

Newmont makes a hostile bid for Santa Fe Pacific Gold, beating a friendly offer by Homestake Mining in early 1997. Success substantially increases production, reserves and acreage in Nevada.
1994

Ronald C. Cambre, a chemical engineer, becomes the first outsider to head the company as Parker retires.

Ronald C. Cambre, a chemical engineer, becomes the first outsider to head the company as Parker retires.

Construction begins at Minahasa, a small gold mine in Indonesia, in advance of a much larger copper/gold project at Batu Hijau.
1993

Newmont breaks ground on a joint venture gold project in Uzbekistan, the first major Western investment in the region since the breakup of the Soviet Union.

Newmont breaks ground on a joint venture gold project in Uzbekistan, the first major Western investment in the region since the breakup of the Soviet Union. Never an easy place to operate, Uzbekistan expropriates the company's assets in 2006.
1992

Development begins slowly at Yanacocha in Peru, where gold near the ancient Inca city of Cajamarca is discovered in 1988.

Development begins slowly at Yanacocha in Peru, where gold near the ancient Inca city of Cajamarca is discovered in 1988. Limited capital is invested due to risks associated with terrorist activities of the Shining Path guerillas. Yanacocha becomes one of the lowest cost and largest gold mines in the world.
1990

Newmont sells its interest in Peabody Coal to the Hanson Trust, thereby becoming, for the first time, a pure gold company.

1989

Gold production in Nevada reaches almost 1.5 million ounces, triple Carlin's output three years earlier. It is the first time a U.S. gold producer exceeds 1 million ounces in a year.

The Berlin Wall falls, signifying the breakup of the Soviet Union.

Gold production in Nevada reaches almost 1.5 million ounces, triple Carlin's output three years earlier. It is the first time a U.S. gold producer exceeds 1 million ounces in a year. Other gold producers are also expanding, and Elko, Nev. becomes the fastest growing city in America.

ConsGold is acquired by Britain's Hanson Trust, which becomes Newmont's largest shareholder.
1988

Another takeover looms as Minorco, an affiliate of the Oppenheimer South African empire, strikes at ConsGold, Newmont's largest shareholder.

Another takeover looms as Minorco, an affiliate of the Oppenheimer South African empire, strikes at ConsGold, Newmont's largest shareholder. Newmont joins ConsGold in a series of legal maneuvers to preserve its independence.

Newmont moves its corporate headquarters to Denver.
1987

Flush with cash and selling at a discount to its net worth, Newmont is the target of corporate raider T. Boone Pickens.

After six years of losses, Newmont divests Magma Copper. Minority interests in the Carlin and Australian gold operations are sold to the public.

Flush with cash and selling at a discount to its net worth, Newmont is the target of corporate raider T. Boone Pickens. It fends off the attack by paying out a special dividend of $2.2 billion, or $33 per share, and then spends the next two years selling off non-gold assets to cover the debt.
1986

Gordon Parker, a South African mining engineer, is named CEO. He succeeds Malozemoff, who served as chief executive for more than 30 years

1980

Gold Quarry is discovered at Carlin. More than 10 million ounces of gold will come from the mine over the next 25 years.

The price of gold reaches a high of $850 per ounce.

Gold Quarry is discovered at Carlin. More than 10 million ounces of gold will come from the mine over the next 25 years.

Newmont fends off a takeover attempt by Britain's Consolidated Gold Fields (ConsGold) by signing a precedent-setting standstill agreement that stops its ownership short of control.

Newmont acquires the T Lazy S Ranch in Nevada, expanding its Carlin land holdings to 350 square miles.
1977

CEO Plato Malozemoff organizes a consortium to acquire Peabody Coal. At the time, it is the largest corporate buyout in American history.

CEO Plato Malozemoff organizes a consortium to acquire Peabody Coal. At the time, it is the largest corporate buyout in American history.

In the southern region of Africa, O'okiep and Tsumeb are the first mines to eliminate the dual wage scale for black and white workers.
1973

Geologist David Tyrwhitt discovers the Telfer gold deposit in Australia's Great Sandy Desert.

Geologist David Tyrwhitt discovers the Telfer gold deposit in Australia's Great Sandy Desert. Production begins in 1977 and by the mid-1980s, Telfer is the largest gold mine in the country.

After more than 40 years, Newmont sells the Empire-Star Mines, equipment and buildings to the California Department of Parks and Recreation for $1.25 million, but retains the mineral rights.
1971

Newmont celebrates its 50th anniversary with revenues of $241 million and net income of $55 million.

President Richard Nixon takes the dollar off the gold standard and returns gold to the free market.

Newmont celebrates its 50th anniversary with revenues of $241 million and net income of $55 million. Shareholders receive $25 million in dividends. An original share of stock costing $40 is now worth $14,000.
1966

Newmont acquires a 33 percent interest in Foote Mineral Company, a major producer of iron alloys and lithium products.

Newmont acquires a 33 percent interest in Foote Mineral Company, a major producer of iron alloys and lithium products.

Newmont acquires all of Magma Copper, a wholly owned subsidiary with earnings of more than $26 million.
1965

Newmont Proprietary is incorporated to explore for minerals in the Southwest Pacific. May 4 - The first gold bar is poured at the Carlin gold mine near Elko, Nev.

1962

Geologists John Livermore and J. Alan Coope discover gold at Carlin, Nev. It's the world's first discovery of submicroscopic, disseminated gold and revolutionizes the gold industry.

Geologists John Livermore and J. Alan Coope discover gold at Carlin, Nev. It's the world's first discovery of submicroscopic, disseminated gold and revolutionizes the gold industry. Production begins in 1965.

Margaret Downey, granddaughter of William Boyce Thompson and, according to newspaper accounts, one of the richest women in America with holdings in Newmont and Magma, dies at age 42. She is succeeded on the board by her daughter, Catherine Hohenlohe, who at 22 becomes the company's youngest director. She serves eight years.
1960

Newmont forms the Atlantic Cement Company to provide cement to the construction industry on the East Coast.

Newmont forms the Atlantic Cement Company to provide cement to the construction industry on the East Coast.

Jack Thompson (not related to the founder) escapes Cuba, where he has worked for 15 years. Turning down an offer by ‘Che' Guevara to become head of mining under Fidel Castro, he joins Newmont and becomes president in 1974.
1956

Magma Copper opens the San Manuel mine near Tucson, which becomes the largest underground copper mine in the country.

Magma Copper opens the San Manuel mine near Tucson, which becomes the largest underground copper mine in the country. Newmont acquires control of Magma in 1961.

The Danbury, Conn., research facility opens and, along with a geophysical lab in Jerome, Ariz., becomes home to some of the industry's top scientists.
1955

Newmont joins Phelps Dodge, American Smelting and Refining, and Cerro de Pasco to form the Southern Peru Copper Corporation.

Newmont joins Phelps Dodge, American Smelting and Refining, and Cerro de Pasco to form the Southern Peru Copper Corporation.

With strong support from the U.S. government, Newmont takes a majority interest in the Dawn Mining Company, which opens a uranium oxide mine and mill in Washington state.
1954

Malozemoff is named president and CEO; Searls becomes chairman. Malozemoff presides over 30 years of expansion and diversification as Newmont invests in mines and mineral ventures around the world.

Malozemoff is named president and CEO; Searls becomes chairman. Malozemoff presides over 30 years of expansion and diversification as Newmont invests in mines and mineral ventures around the world. Some of the biggest names in copper, lead, zinc, lithium, uranium and even cement become part of the Newmont portfolio. Newmont moves its corporate offices to 300 Park Avenue.
1951

Newmont invests $13 million in Sherritt Gordon Mines Limited in Manitoba, Canada, to help develop a process that would yield copper, zinc, cobalt and ammonium sulfate fertilizer.

Newmont invests $13 million in Sherritt Gordon Mines Limited in Manitoba, Canada, to help develop a process that would yield copper, zinc, cobalt and ammonium sulfate fertilizer. Eventually, Sherritt becomes one of the largest nickel producers in the world.
1947

Searls, who travels the world in search of new mining ventures for Newmont, becomes president and Ayer is named chairman.

Searls, who travels the world in search of new mining ventures for Newmont, becomes president and Ayer is named chairman.

Newmont acquires an abandoned copper-lead-zinc mine at Tsumeb in South West Africa.

Subsidiary Newmont Oil is asked by cash-strapped Mobil to help finance offshore drilling in the Gulf of Mexico, setting off a joint venture that lasts nearly 40 years.
1945

Plato Malozemoff, a Russian emigrant and metallurgist, joins Newmont as a staff engineer at a salary of $4,200 a year.

Plato Malozemoff, a Russian emigrant and metallurgist, joins Newmont as a staff engineer at a salary of $4,200 a year.

Newmont's headquarters at 14 Wall Street has 10 offices, each occupied by a member of the board of directors.
1942

As America enters World War II, Fred Searls, Jr., Newmont's VP of Exploration, becomes a "dollar-a-year" man with an office in the White House, dividing his time and contributing his talents to the war effort.

U.S. enters World War II after the Japanese attack Pearl Harbor. The government halts gold mining to reassign workers to produce more strategic metals.

1940

The Wall Street Journal reports that Newmont "makes its bow" on the New York Stock Exchange. In the first day of trading, 100 blocks of 100 shares each exchange hands. The closing stock price is $73-1/8.

1937

In Colorado, Newmont acquires two lead and zinc mines - Resurrection and Idarado - and in South Africa, opens the O'okiep Copper Mine (pictured)

In Colorado, Newmont acquires two lead and zinc mines - Resurrection and Idarado - and in South Africa, opens the O'okiep Copper Mine (pictured). Later, with Tsumeb in South West Africa (now Namibia) and Palabora, a South African copper mine, some of these ventures support the Allied efforts during World War II and become the mainstay of the company through the early 1970s.
1935

In Canada, Newmont acquires three gold properties: Northern Empire Mines Company, Island Mountain and Berens Rivers Mines.

President Franklin D. Roosevelt fixes the price of gold at $35 an ounce (up from $20) to help stabilize the economy. This makes gold mining profitable in the U.S. The price holds until 1971, when gold trades at free market prices.

1932

Newmont is forced to eliminate dividends to shareholders and stock prices tumble to an all-time low as demand for metals and oil falls.

Newmont Oil Company is launched to explore Texas and Louisiana for oil reserves.

1930

Thompson dies at age 61, leaving a fortune of $150 million. Attorney Charles Ayer, who has been Newmont's president since 1926, takes the reins.

Thompson dies at age 61, leaving a fortune of $150 million.

Attorney Charles Ayer, who has been Newmont's president since 1926, takes the reins. As the Great Depression deepens, dividends and salaries are cut. Ayer takes no pay for his remaining years of service.
1929

Stock peaks at $236 a share in August, just ahead of the market crash.

The stock market crashes, throwing the country into the Great Depression.

Stock peaks at $236 a share in August, just ahead of the market crash.

Newmont acquires a controlling interest in California's two largest gold mines-the Empire and the North Star-which, with other gold mines in the U.S. and Canada, sustain the company during the Great Depression.
1928

Newmont acquires its first shares in Magma Copper, a company Thompson founded in 1910. Located in eastern Arizona, Magma becomes a core holding for nearly 60 years and rises to become one of the world's largest copper producers.

1925

Renamed Newmont Mining Corporation, Newmont goes public with shares trading on the Curb Exchange. It operates like a mutual fund, buying and selling stock in mining and oil companies.

Newmont holds large positions in Kennecott Copper, Hudson Bay Mining and Smelting, Texas Gulf Sulphur, Continental Oil, Standard Oil of California, Standard Oil of Indiana, and eight other mining and petroleum companies - three of them in South Africa.
1921

Newmont Company reincorporates in Delaware as Newmont Corporation. This becomes the company's official birth date.

1917

Newmont makes its first major gold investment by taking a founding 25 percent interest in Anglo American Corporation of South Africa.

1916

William Boyce Thompson establishes Newmont Company to manage his expanding portfolio of mining investments. Although headquartered in New York, it incorporates in Maine.

IN THE BEGINING

When mine promoter and financier Colonel William Boyce Thompson decides to create the Newmont Company in 1916 to handle his larger private acquisitions - spanning oil and gas, mining and even hats - he names the company based on the wealth he created in New York and his love for his home state of Montana.

After taking his company public in 1925, Thompson sees the share price skyrocket from $40 to $236 in just four years. Thanks to the purchase of the Empire-Star Mines in California, Newmont continues to operate during the Great Depression after President Franklin D. Roosevelt increases the fixed price of gold from $20 per ounce to $35.

The company also becomes a shareholder of Magma Copper - one of the largest copper producers in the United States - and acquires the Idarado and Resurrection mining companies in Colorado to mine gold, lead, zinc and copper.

Circa 1910 - William Boyce Thompson, founder, at Magma Copper.

ERA OF EXPANSION

Newmont spends the next three decades growing steadily by acquiring new operations and diversifying its mining portfolio through joint ventures with established mining companies to include copper, gold and other minerals.

The company experiments with new processing techniques for metals such as nickel and lithium, creates the largest cement plant in the United States and refines copper for use in the automotive industry. In all, Newmont grows its operations, producing 28 different products from mines, wells, plants and refineries in the United States, Canada, Africa, Peru and elsewhere.

In Nevada, Newmont discovers the world's first submicroscopic or "invisible" gold at Carlin in the early 1960s and begins production on the first open pit gold mine in the world. Its mines on the Carlin Trend are the first in North America to produce 1 million ounces in a year. Carlin becomes the foundation of Newmont's rise in the world gold market.

1981 - Newmont forms the Atlantic Cement Company to provide cement to the construction industry on the East Coast.

ATTEMPTED TAKEOVERS

By the mid-1980s, the company is flush with cash, has little debt and is developing a growing gold district in Nevada. Many on Wall Street discover that Newmont's parts are worth more than the whole, believing the company's non-gold assets of $2.2 billion are undervalued by $1.5 billion.

This attracts corporate raiders - Consolidated Gold Fields (ConsGold), T. Boone Pickens, Minorco, Hanson Industries and Sir James Goldsmith - who seek to break Newmont apart and sell its assets to increase shareholder value.

Newmont faces tumultuous times as it works to thwart these five takeover bids. While eventually successful, these battles leave Newmont in significant debt, requiring that it divest its non-gold assets. Remaining is Newmont's Carlin Trend in Nevada as its primary asset with fledgling operations in Peru and Uzbekistan.

Sir Rudolph Agnew of ConsGold initially attempts a takeover. Eventually, Newmont (headed by then-CEO Gordon Parker) and ConsGold join forces and together they battle additional takeover attempts by T. Boone Pickens and Minorco.

FOCUS ON GOLD

To increase shareholder value, Newmont expands globally and renews its focus on gold. Newmont makes major investments in Nevada, Australia, Peru, Indonesia and Ghana; forms a joint venture gold project in Zarafshan, Uzbekistan; then engages in four acquisitions and mergers beginning in 1997, becoming the world's largest gold producer from 2002-2006.

In 2007, Newmont seeks to take advantage of rising gold prices by shedding its non-core assets and acquiring Miramar Mining Corporation and its Hope Bay project in Nunavut, Canada. The company also eliminates its 1.5 million ounce legacy hedge book to make Newmont the world's largest unhedged gold producer. Also in 2007, Newmont becomes the first gold company listed on the Dow Jones Sustainability World Index, the premier sustainability index tracking the performance of 2,500 leading companies, worldwide.

Steadily rising gold prices, coupled with a renewed focus on disciplined cost management, allow for expanding margins in 2008. In addition, despite rising cost pressures, the Yanacocha gold mill and the Nevada TS Power Plant are completed on time and on budget.

2006 - Newmont returns to Africa for the first time in decades and opens the Ahafo gold mine in Ghana.

Worldwide event Click to expand for more information