In a recent issue of TIME magazine’s EMEA edition, Newmont’s Executive Vice President for Sustainability and External Relations, Dr. Elaine Dorward-King was featured, along with other mining industry executives, in a piece highlighting sustainability strategies in the mining sector.
The piece included a focus on some of Newmont’s best practices in transparency and community engagement, along with improving local economic and social development in the regions where we operate. This is central to our company’s stated purpose of creating value and improving lives through sustainable and responsible mining.
In Suriname, Newmont engaged in a dialogue with the local community prior to development of its Merian Gold Project to ensure that the future mine would bring sustainable value to all of our stakeholders: “From the beginning we have sought to engage with the local people and consult with them about the impacts and opportunities of our mining operations,” Elaine told TIME. It is important to Newmont’s long-term success that we not only understand stakeholders’ expectations, but that we continue to listen and respond to the needs of surrounding communities.
Elaine also spoke about Newmont’s commitment to transparent relations with national governments: “One of the reasons why transparent royalty and tax payments are so critical to the mining industry is that it is the only way for local people to feel that they’re fully sharing in the economic opportunity.”
Since 2002, Newmont has been actively involved in the Extractive Industries Transparency Initiative. By publicly disclosing our global tax and royalty payments each year, Newmont works to build the trust of host communities and ensure that natural resource revenues are used for economic and social development in the region.