The Hope Bay Greenstone Belt is Newmont's first project located in the Canadian arctic tundra. It borders the Arctic Ocean, in the Nunavut Territory. In 2008, Newmont acquired Miramar Mining Corporation, which held rights to Hope Bay – one of the most prospective undeveloped greenstone belts in North America that extends more than 621 square miles (1,000 square kilometers).

Gold reserves are not yet known; the required drilling and exploration work is currently underway to prove out the existing reserve material using Newmont standards.

Work force

Newmont recently welcomed the Hope Bay team of nearly 100 employees and contractors. While staffing needs continue to be evaluated, approximately 15 new workers will join the Hope Bay team in 2008. Miramar’s vice president of Exploration plans to continue consulting with Hope Bay’s senior operations management team as well.

Community

Canada’s new territory of Nunavut is largely governed and populated by the Inuit,
indigenous peoples who inhabit the Arctic regions of Alaska, Greenland and Canada. The Inuit granted access to Miramar to explore their land, and after many years of consultation, signed an Inuit Impacts and Benefits Agreement with the mining company. Newmont recently began consultation with Inuit leaders to assess their social, economic, environmental and cultural needs.

Environment

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