DENVER--(BUSINESS WIRE)--
Newmont
Mining Corporation (NYSE: NEM) (Newmont or the Company) has
appointed experienced mining executive Dean Gehring to lead the
Company’s South America business beginning on 1 June 2017. Mr. Gehring
is succeeding Trent Tempel who is retiring after 33 years of
distinguished service to the Company.
“Dean is an experienced business and operations leader with a 25-year
track record of delivering step-change improvements in safety,
productivity, project execution, and sustainability,” said Tom Palmer,
Executive Vice President and Chief Operating Officer. “I look forward to
Dean enhancing our South America region’s performance and prospects for
future development by continuing to execute our strategy to improve the
underlying business, strengthen the portfolio and create value for
shareholders and other stakeholders.”
Mr. Gehring joins Newmont having most recently served as Head of Safety
and Security for Rio Tinto’s world-wide operations. Prior to this role,
he was President and Chief Executive Officer of Rio Tinto Minerals where
he improved the business unit’s safety performance, increased free cash
flow and maintained financial margins in a declining market. During his
tenure with Rio Tinto Mr. Gehring also served as Vice President of
Operations for Rio Tinto Minerals, in addition to roles as General
Manager of operations and projects with Boron Operations in California,
Project Development at Ivanhoe-Oyu Tolgoi in Mongolia, and Resource
Development at Kennecott Copper in Utah. He also held managerial roles
in engineering, projects and mining operations with PT Freeport
Indonesia, BHP-Billiton, Hecla Mining, and Magma Copper.
Newmont operates South America’s largest gold mine, Yanacocha, along
with the Merian gold mine in Suriname. Merian achieved commercial
production in October 2016 – on time and $150 million below budget – and
is anticipated to deliver more than a decade of profitable production.
South America accounts for approximately eight percent of Newmont’s
attributable gold production (not including anticipated production from
Merian in 2017) and the region contains approximately nine percent of
the Company’s gold reserves. Newmont continues progressing evaluation of
the Quecher Main project at Yanacocha, which would extend oxide
production through 2025 and provide a bridge to potential sulfide
development.
About Newmont
Newmont is a leading gold and copper producer. The Company’s operations
are primarily in the United States, Australia, Ghana, Peru and Suriname.
Newmont is the only gold producer listed in the S&P 500 Index and was
named the mining industry leader by the Dow Jones Sustainability World
Index in 2015 and 2016. The Company is an industry leader in value
creation, supported by its leading technical, environmental, social and
safety performance. Newmont was founded in 1921 and has been publicly
traded since 1925.
Cautionary Statement Regarding Forward Looking Statements:
This release contains “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended, which are intended
to be covered by the safe harbor created by such sections and other
applicable laws. Such forward-looking statements may include, without
limitation, future production and profitability, future enhancements to
performance, prospects for future development and extensions, future
portfolio and balance sheet strength, and future value creation and
return to shareholders. Where the Company expresses or implies an
expectation or belief as to future events or results, such expectation
or belief is expressed in good faith and believed to have a reasonable
basis. However, such statements are subject to risks, uncertainties and
other factors, which could cause actual results to differ materially
from future results expressed, projected or implied by the
“forward-looking statements.” Such risks include, but are not limited
to, gold and other metals price volatility, increased production costs
and variances in ore grade or recovery rates from those assumed in
mining plans, political and operational risks, community relations
risks, changes in governmental and environmental regulations and
judicial outcomes. For a more detailed discussion of other risks that
may impact the Company’s future performance, see the Company’s 2015
Annual Report on Form 10-K, filed on February 17, 2016, with
the Securities and Exchange Commission (SEC) and other SEC filings.
Investors are also encouraged to refer to the Company’s 2016 Annual
Report on Form 10-K expected to be filed with the SEC on or about
February 21, 2017. The Company does not undertake any obligation to
release publicly revisions to any “forward-looking statement” to reflect
events or circumstances after the date of this news release, or to
reflect the occurrence of unanticipated events, except as may be
required under applicable securities laws. Continued reliance on
“forward-looking statements” is at investors' own risk.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170220005602/en/
Source: Newmont Mining Corporation