Posted on January 31, 2014 in Our Business
Mining in New Zealand has a long history, dating back to the discovery of gold in the 1800’s. While the original mine closed in 1952, new prospecting activity began in Waihi in the 1970s, sparked by rising gold prices.Today, Newmont’s mining operations employ many local community members and the Martha open pit operation is situated in the town. In addition, our Favona and Trio underground operations are accessed by a portal on the town’s outskirts. With current operations nearing the end of the mine life, Newmont’s near-mine exploration activities are focused on the Correnso ore body, which would allow mining activities to continue in Waihi.Newmont’s Correnso underground mine began construction with a 550 meter exploration development drive pushing out from the Trio mine in Waihi East. The Correnso Exploration Development Drive was started in December 2013...
Posted on December 17, 2013 in Our Business
Minera Yanacocha in Peru is Latin America’s largest gold mine, yielding more than 34 million ounces of gold since the mine began producing in 1993. However, with a projected remaining mine life of approximately five years, and a progressive decline in the gold grade in the mine’s ore bodies, Yanacocha is nearing the final stages of its lifecycle. Or, at least, that was the assumption.After intensive laboratory research, a new way to extend the life of this prolific asset is showing promise. Our talented team is developing a way to safely and economically recover copper from a sulfide ore body dominant with the mineral enargite – a first in the mining industry.For more than a decade, a vast deposit of enargite dominant mineralization located beneath Yanacocha’s oxide (gold) ore body was avoided due to its complexity and cost to process.“Because the enargite...
Posted on October 25, 2013 in Our Business, Our Values
Mine rescue is an operation you hope you never need to perform. But in the event that you do, you’d better be prepared.Randy Squires, Senior Manager for Regional Safety Relations at Newmont, speculates this may be the sentiment of every mining company. At Newmont, however, it’s much more than a sentiment. It is a commitment.Determined to safely return employees and contractors to their homes and families at the end of each work day, Newmont has created a culture in which all employees – whether they work at a mine site or in an office building – are expected to manage the risks of their jobs and choose more safe behaviors.It is a culture built upon safety standards and practices that have become second nature for employees. For instance, employees engage in safety interactions to better understand the impact and influence they have on one another’s well...
Posted on October 15, 2013 in Our Business, Our Values
Recently, Newmont was named to the Dow Jones Sustainability World Index (DJSI) for the seventh consecutive year. We are proud to be recognized as a leader in the areas of sustainable economic, environmental and social performance because we understand this performance – and our efforts to continually improve – are central to our future success.Newmont voluntarily participates in various partnerships and programs that provide a means for measuring our performance, as well as a framework for action and a forum to learn from others. One such program is the Extractive Industries Transparency Initiative (EITI), a multi-stakeholder coalition of governments, companies, investors, civil society groups and international organizations.Mining and other resource activities can be catalyst for economic and social development in emerging economies. However, the lack of accountability and...
Posted on October 7, 2013 in Our Business, Our Communities
Africa is experiencing one of the fastest growing economies in the world, second only to China. A significant source of this growth is revenue generated by mineral development, which is providing African nations with greater opportunities to invest in education, job creation and social programs that hold the promise of increasing prosperity and well-being.Heeding a Ghanaian proverb that states, “If an opportunity is not taken when it comes, it passes away,” Ghana has chosen to seize the opportunities created through its natural resource wealth. And with support from Newmont Ghana, Ghanaians are affecting positive change in their lives and in their communities. Just a few examples include:Bernard Fosu, an employee of Newmont and a beneficiary of Newmont’s Emerging Talent Program, pursued a degree in mineral engineering and graduated best among his peers at Ghana’s...
Posted on August 12, 2013 in Our Business, Our Communities, Our Environment, Our People, Our Values
Evidence suggests that as far back as prehistoric times people were aware of the minerals that lay beneath the Earth’s surface.Although the science and technology behind mining have evolved over the millennia, the recovery of minerals from the earth remains complex.Depending on the size and location of a mineral deposit, a mining project will advance through a number of different phases and can take as few as 10 or as many as 100 years to complete. Taken together these phases are referred to as the mine lifecycle.Through every phase of mine development, Newmont works to achieve industry-leading environmental performance while creating shared value with the people and communities that host our operations. The following is an overview of the mine lifecycle, including a description of each phase and Newmont’s approach to sustainability.Lifecycle of a MineExploration Phase: Find...
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