- In 1962, Newmont revolutionized the gold mining industry with the world’s first discovery of submicroscopic or “invisible gold.”
- Newmont helped found the ICMM, promoting sustainable development and social responsibility in mining.
Our People Features
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Celebrating 90 Years of Contributions
May 2 marked 90 years since Newmont’s official birth date. Our company has never been stronger thanks to the contributions of employees who have innovated in ways no one could have predicted nearly a century ago.
Some of our pioneers include William Boyce Thompson, who incorporated Newmont as a way to manage his mining and oil investments. Little did he know in 1921 that about 34,000 employees and contractors across the globe would be grateful for the jobs he indirectly created nine decades later.
Fifty years ago, John Livermore and J. Alan Coope discovered the world’s first submicroscopic or “invisible” gold at Carlin, leading to the creation of the world’s first open pit gold mine. This operation became the foundation of Newmont’s rise in the gold market and revolutionized our industry.
Twenty-five years ago, with plenty of cash, little debt and growing gold districts, Newmont was ripe for a takeover. Then-CEO Gordon Parker stood firm, thwarting five different attempts to break up the company and sell off our valuable assets.
Nearly 10 years ago, former CEO Wayne Murdy led the acquisition of Normandy Mining and Franco-Nevada to make Newmont the world’s largest gold producer at the time.
Four years ago, current president and CEO Richard O’Brien eliminated our 1.85 million ounce hedge book to reinvest in Newmont’s core gold business. Just 24 months later, Newmont posted a record $2.3 billion in net income on revenue of $9.5 billion.
"Newmont's most valuable and enduring asset over the past 90 years has been our people - the people who worked for the company in the past and those working here now. Together we have made Newmont what it is today," O'Brien said. "Whether it was pioneering gold mining in open pits or being the first gold company on the Dow Jones Sustainability World Index, Newmont has led the way in our industry."
Today, Newmont continues to build on our legacy. In this issue of The Gold Standard, we invite you to read more about our history and consider the role you will play in writing our next chapter.
September 6, 2011
Professional Development Program Pays Off
In an effort to strengthen the technical and personal skills of new university graduates entering the mining industry, Minera Yanacocha created an 18-month Leader Graduate Program.
The operation’s Management and Acquisition of Talent team scoured a multitude of Peruvian universities and handpicked 19 graduates to participate. The initiative helps further develop the graduates’ skills and ease their transition into employment.
After cultivating their skills, the graduates obtain appointments to mine operations, mine engineering and geology. From there, they will receive permanent positions at the mine and receive additional skills training.
“Thanks to this program, we gain experience in what we have been studying,” said Mayra Montesinos, a graduate of Pontificia Universidad Católica del Perú who is now working in mine engineering for Yanacocha. “We have the opportunity to meet our goals, as well as the goals of this important company that we joined.”
The mine plans to conduct future workshops in effective communication, leadership and teamwork, and to provide supportive mentors.
September 6, 2011
Generating Local Employment
Since 2006, Newmont Ghana estimates it has created 48,000 direct and indirect jobs related to mining. Currently, 96 percent of the 5,000 Newmont contractors and employees who work at these mine sites are Ghanaian. Almost one in four hail from and live in the communities surrounding the Ahafo mine and Akyem project, and slightly more than half (56 percent) are Ghanaian citizens who live outside mine concession areas.
As a result of focusing on local talent, Newmont Ghana easily complies with a government proposal that calls for at least 90 percent of local employment by extractive industries by 2020. Related employment laws and policies are pending.
September 6, 2011
Nevada Guardian Angels Save Again
A team of guardian angels appears to be working at Newmont Nevada’s operations.
In December, members of the company’s surface maintenance crew in Carlin rescued a family of five people and a litter of puppies after the family’s car slid off an icy road.
In May, Whitnie Herman, a logistic analyst for the Supply Chain department at the North American Regional Office in Elko, helped rescue a Canadian woman who had been stranded in the remote northern Nevada wilderness for almost seven weeks. The story attracted international media attention.
Herman, her husband and father were hunting for shed elk antlers when they stumbled upon Rita Chretien, who peeked out at them from inside a van that was partially submerged in mud. Chretien told them she and her husband had been headed to Las Vegas. A series of wrong turns led them to this virtually impassable dirt road where they became stuck.
Just days after the couple became stranded, Chretien’s husband decided to head out on foot with a handheld GPS unit to find help, leaving her alone in the vehicle. Chretien survived for weeks on snow, stream water and rationed snacks until she was discovered by the hunters.
Herman and her companions shared their water, trail mix and beef jerky with Chretien before trying to call for help. Cell coverage was poor, so they rode their all-terrain vehicles back to a ranch about nine miles away to call emergency responders on a landline phone. Within minutes, a life flight helicopter made its way to the area and followed Herman’s group back to the trapped vehicle.
Herman believes it was sheer luck that her group found Chretien. They had ventured to that location only because of a miscommunication among them about which direction they wanted to go while riding.
Thankfully, emergency responders were able to tend to Chretien and transport her safely to a hospital. Unfortunately, her husband was still missing at press time. Search efforts to find him have been unsuccessful and hampered by bad weather, as well as muddy, snowmelt-flooded roads and terrain.
Herman’s husband, Chad, works for Barrick Gold, and her father works for Legarza, a mining contractor. We salute them all for not only being in the right place at the right time, but for acting quickly and decisively in getting help to someone in need.
September 6, 2011
Ensuring a Deep Bench of Talent
From new hires to veteran employees, strong talent runs deep at Newmont. But a persistent challenge for Newmont and all companies is to continually build a talent pipeline for the future. We are facing this challenge head on through our Emerging Talent Program, a global initiative launched in early 2011 to develop the careers of our university graduates.
“Through its unique learning and development opportunities, the Emerging Talent Program has already proven successful at attracting top talent from universities and enhancing Newmont’s pipeline of entry-level talent,” explains Brooke Bacon, University Strategy manager.
The program’s inaugural class consisted of 97 new hires. Each one possesses the following:
· At least three to four years of undergraduate schooling in technical or business disciplines;
· Less than 12 months of post-college work experience;
· A passion for the mining industry; and,
· A desire to participate in an accelerated career development experience at one of the world’s leading mining companies.
All recruits are graduates of universities with which Newmont has strong partnerships and relationships.
Although the global program is new, similar programs have been operating successfully at the regional level, particularly at Newmont’s Asia Pacific operations. We built upon the best practices of these programs to create a consistent global program that we felt could be successful at the regional level and also company-wide.
According to Bacon, the ongoing recruitment of new-graduate hires for the program will be driven primarily by the workforce plans and attrition within each of the regions.
“It is our strategy for winning the war for talent,” she explains. “It allows us to build our skills in-house rather than forcing us to rely on talent from other mining companies that face the same staffing challenges. Simply put, the Emerging Talent Program will help Newmont with long-term planning around our global workforce.”
The program also will help college graduates who are new to the workforce accelerate their work experience and performance to gain a solid footing in their careers. The program allows our new-graduate hires to approach their career with a clear development path.
Features of the program that new graduates find most appealing include:
· Flexibility to pursue specific career interests
· Opportunity to complete a six-to-12 month rotation within a department, site or region
· Acceleration of technical, leadership, management, planning and relationship skills
· A supportive environment in which program participants can ask questions and share experiences with peers and mentors
“The program is excellent,” says Rosie Allen, a graduate mining engineer and program participant at Newmont Asia Pacific. “One of its greatest strengths is the diversity among the operations. Each mine site … offers a different lifestyle, a different mining method, different geology and, hence, different challenges. New graduates have a lot to choose from and can discover what works best for them within the one company.”
To learn more about the Emerging Talent Program, please e-mail firstname.lastname@example.org.
September 6, 2011
Compassionate Miners Save Injured Family
In the early hours of a frigid, snowy December morning, six members of Newmont's Nevada surface maintenance team were headed to work when they saw a woman standing on the side of the highway in bloodsoaked clothes. She was waving desperately for help.
After coming to a stop, the only passersby of about 20 to do so, the men jumped out to discover the woman's Ford Excursion had hit an icy patch of road and tumbled down a steep embankment to rest upside down. Her family of five, and a crate full of Yorkshire Terriers and puppies, remained below.
The woman's husband suffered from broken ribs and a concussion, and her young son's leg was pinned under the SUV. A puppy had a broken leg as well. Fortunately, the rest of the family's injuries were minor.
After descending the steep hill, the men put their own coats on the crash victims, and then they worked to jack up the vehicle off the boy's leg (luckily, he suffered only minor tissue damage). They then applied first aid skills learned at Newmont's annual safety refresher training to assess the injuries and instill calm until emergency responders arrived. Finally, the men helped pulley the victims to the interstate for transport to the hospital.
When these miners arrived at work a few hours later, they were recognized for their selfless acts with $250 spot recognition awards. They pooled their money and, later that day at the hospital, donated the $1,500 to the family. Turns out the husband had lost his wallet in the accident, so the gift was an added blessing.
"This was the will of the Lord, the work of angels," said the woman, Darlece Loper, in an interview with the Deseret News. "Whatever this is, it is definitely a miracle. Those men were his workers. They're men of character."
Newmont is proud of these employees for their honorable response to this incident.
April 18, 2011
Celebrating Injury-free Workplaces
Newmont would like to congratulate three Nevada teams for their remarkable safety performance. As of late 2010, the:
- Carlin engineering group worked 26 years without a lost time accident;
- Twin Creeks' Dewatering/Utility team completed 13 years with no lost time accidents; and,
- TS Power Plant team worked more than 500,000 exposure hours without a lost time accident, including months worked before the plant was commissioned when many employees were on-site testing plant components.
April 18, 2011
Ian Suckling Honored for Safety
Ian Suckling, senior manager of technical and site services for Newmont, will receive the Jim Torlach Health and Safety Award at the prestigious Australasian Institute of Mining and Metallurgy's Annual Awards dinner in May. The award recognizes notable achievements in health and safety in the minerals industry, and is assessed by an independent panel against stringent criteria including effectiveness, leading practice and a commitment to zero harm.
April 18, 2011
Junior Achievement Prepares Youth for the Business World
As a board member of the Rocky Mountain chapter of Junior Achievement (JA), Russell Ball, Newmont's executive vice president and chief financial officer, is passionate about educating youth about the business world.
Since May 2009, he has helped guide the organization that reaches nearly 9.7 million students worldwide using workforce readiness, entrepreneurship and financial literacy programs.
"I liked the fact that JA focuses on kids and education and, in particular, on teaching children about financial literacy and the importance of staying in school and getting an education," Ball said.
According to Robin Wise, JA's president and chief executive officer, the program's interactive learning style allows students to make mistakes in a safe environment, while stimulating a desire to plan for financial stability.
"There's no hiding from mistakes you make financially," Wise said in an interview with the Denver Post. "That keeps people poor. Wealth creation doesn't happen by accident. It doesn't happen by someone doing it for you. You have to do it yourself."
Ball – along with a whole host of Newmont employees –
actively supports JA chapters in North America and Peru.
For the second consecutive year, JA's Rocky Mountain chapter invited Newmont employees to support a program called "JA in a Day." JA selected Leroy Drive Elementary School, located several miles north of Newmont's Denver office, because it offers an International Baccalaureate Primary Years Programme designed to promote a better and more peaceful world by fostering intercultural understanding and respect in students.
JA paired 37 Newmont volunteers from 11 departments with teachers throughout the school to blend the daylong curriculum with business and practical applications of subjects they had already been studying. Our employees spent the day explaining to kindergartners what money looks like and its worth, and taught students in higher grade levels fundamentals of operating a business and paying taxes.
According to Leslie Chapman, a member of Newmont's Socially and Environmentally Responsible Volunteer Employees (SERVE) committee and the JA event coordinator, volunteers had an overwhelmingly positive experience and were glad to participate in such a meaningful project.
JoLynn Brown of Corporate Development agreed.
"Overall, it was a wonderful experience," she said. "The teachers, students and faculty were wonderful, and I look forward to doing this again next year!"
Newmont's Denver office plans to participate in a similar JA event next spring.
In Peru, Minera Yanacocha has supported JA since 2005, when the Asociación los Andes de Cajamarca – the organization the mine created to promote sustainable human development in the region – established the Training Program for Young Entrepreneurs in partnership with JA Worldwide Peru to improve the quality of education there.
In just five years, more than 25,000 Peruvian teachers and students have benefitted from educational programs, activities and events aimed at promoting their entrepreneurial attitude, a better understanding of a free market economy and facilitating their transition into the adult world. Today, 31 high schools have established the Network of Cajamarca Entrepreneurial Schools, and another 500 youth are being mentored by mine managers as well as some of Yanacocha's suppliers.
"(The program) taught me to be a dreamer, tenacious and to persevere," said David Gutiérrez Chilón, a former student at the San Vicente de Paul School, who is now studying business administration in college. "It allowed me to discover some hidden strengths, to give my best and, above all, to think big."
November 30, 2010
MTF Hosts Kids’ Science Day
On an autumn Saturday, hundreds of Newmont employees, children and volunteers crowded the Malozemoff Technical Facility (MTF) to take part in its second annual Science Day for Kids.
Together with members of the Society for Mining, Metallurgy and Exploration, Newmont has leveraged this event beyond cultivating the scientific passions of college interns to a younger group of science enthusiasts: elementary school students.
"We're really pleased with this year's turnout," said Marc LeVier, senior director of Metallurgical Research and Development. "There are a lot of kids who are interested in science and we want to show them that science is fun and interesting, and this event is a great opportunity to do that."
The annual event was borne out of more than 200 tour requests of the MTF. Now, daylong tours offer participants a glimpse inside to learn how to turn a copper penny into gold using alchemy, how gravity can help separate minerals, and how to identify mineral types in specific rock formations. Others learned about biological copper leaching, fire assays, how cyanide is used to dissolve gold and gold extraction.
After lunch, some attendees panned for gold and enjoyed homemade ice cream made by "Dr. Freeze" using liquid nitrogen.
November 30, 2010