- 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.
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Celebrating 90 Years of Contributions
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Denver, Colorado
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