About - newmont

Newmont Goldcorp's Vision

Founded in 1921 and publicly traded since 1925, Newmont Goldcorp is headquartered in Greenwood Village, Colorado. We have approximately 19,000 employees and 18,000 contractors, with the majority working at managed operations in Australia, Canada, Ghana, Peru, Suriname, Mexico, Argentina, Dominican Republic and the United States. Newmont Goldcorp is an industry leader in value creation and the only gold producer listed in the S&P 500 index. Our purpose – to create value and improve lives through sustainable and responsible mining – is guided by five core values: safety, integrity, sustainability, inclusion and responsibility. We are proud to have been named the mining industry leader in overall sustainability by the Dow Jones Sustainability World Index in 2015, 2016, 2017 and 2018.

Newmont Awards

Awards and recognition help us gauge our progress on issues related to safety, the environment, community relationships, community investment and other areas of our business. The following are some of the more recent recognitions Newmont Goldcorp has received in our efforts to create sustainable value and opportunity for all our stakeholders.

December
Alliance for Education Award (ALAC, Yanacocha), Ministry of Education, Peru Merit Award (Newmont Australia), Community Partnership Award, Australia Department of Mines and Petroleum Finalist, 2016 Golden Gecko award (Boddington, Newmont Australia), Australia Department of Mines and Petroleum
May
Honoree and Gold Sponsor (Tanami, Newmont Australia), Women in Resources Northern Territory Awards 69th Overall, 2016 100 Best Corporate Citizens, Corporate Responsibility Magazine
December
Finalist, 2015 Golden Gecko (KCGM, Newmont Australia), Australia Department of Mines and Petroleum

Newmont History

Newmont Goldcorp’s rich legacy spans most of the 20th century and is intimately linked to many of the key industrial milestones of the 1900s.

Colonel William Boyce Thompson founded the Newmont Company in 1916 as a holding company for private acquisitions in oil and gas, mining and minerals enterprises. Thompson named the company “Newmont” because, as one biographer described it, “he grew up in Montana and made his money in New York.”

Publicly traded on the New York Stock Exchange (NYSE) since 1940, Newmont Goldcorp has spent about century primarily in the natural resources industry, mining gold, copper, silver, lead, zinc, lithium, uranium, coal, nickel and aggregates, and even developing oil and gas. Today, Newmont Goldcorp is the world’s leading gold company as measured by assets, prospects and people. Newmont Goldcorp has actively operating mines in nine countries across the globe.

As one of a relatively small number of companies that have been listed on the NYSE since 1940, Newmont Goldcorp continues to create value and opportunities for our shareholders, employees and host communities.

We invite you to read more about our diverse and storied past and the remarkable foundation upon which our company was built.

In The Beginning

When mine promoter and financier Colonel William Boyce Thompson decides to create a company in 1916 to handle his larger private acquisitions – spanning oil and gas, mining and even hats – he names it the Newmont Company based on the assets he created in New York and his love for his home state of Montana. Reincorporated as Newmont Corporation in 1921, the word Mining is added to its name in 1925 as it sells its first shares to the public. Recognized for its “imposing array of financial and technical talent,” Newmont quickly becomes an industry leader, and its stock skyrockets from $40 to $236 in just four years.

With the acquisition of the Empire-Star Mines in California in 1929 and President Roosevelt’s decision to increase the fixed gold price from $20 per ounce to $35, Newmont weathers the Great Depression. The Company also becomes a shareholder of Magma Copper in Arizona – one of the largest copper producers in the United States – and opens copper mines in southern Africa and acquires two historic lead and zinc mines in Colorado.

Era of expansion

Beginning in the 1930s, Newmont spends the next three decades growing steadily by acquiring new operations and diversifying its mining portfolio through joint ventures with established mining companies to include copper, gold and other minerals.

The Company experiments with new processing techniques for metals such as nickel and lithium, creates the largest cement plant in the United States, refines copper for use in the automotive industry, and puts together a consortium to acquire Peabody Coal – the largest coal miner in the United States. In all, Newmont grows its operations, producing 28 different products from mines, wells, plants and refineries in the United States, Canada, Africa, Peru and elsewhere.

In Nevada, Newmont discovers the world’s first submicroscopic or “invisible” gold at Carlin in the early 1960s and begins production on the first open pit gold mine in the world. Its mines on the Carlin Trend are the first in North America to produce 1 million ounces in a year. Carlin becomes the foundation of Newmont’s rise in the gold market.

Attempted Takeovers

By the mid-1980s, the Company is flush with cash, has little debt and is developing a growing gold district in Nevada. Many on Wall Street discover that Newmont’s parts are worth more than the whole, believing the Company’s non-gold assets are undervalued.

This attracts corporate raiders – Consolidated Gold Fields (ConsGold), T. Boone Pickens, Minorco, Hanson Industries and Sir James Goldsmith – who seek to break Newmont apart and sell its assets to increase shareholder value.

Newmont faces tumultuous times as it works to thwart these five takeover bids. While eventually successful, Newmont is left in significant debt by these battles, requiring it to divest its non-gold assets. Newmont’s Carlin Trend in Nevada remains as its primary asset, with fledgling operations in Indonesia and exploration plays in Peru and Uzbekistan.

Focus on Gold

Capital investments and acquisitions lift Newmont’s production and reserves during the 1990s. Yanacocha becomes the largest gold mine in South America. Operations begin in Uzbekistan and Indonesia, where Batu Hijau puts the Company back in the copper business.

In a bold move in 2002, the Company acquires two competitors, an Australian miner and a Canadian royalty holder, to become the largest gold producer in the world from 2002 to 2006. One acquired property in Ghana is quickly developed into a major new mine while subsequent acquisitions over the next 10 years add depth in Canada, Australia and Nevada.

In 2007, the Company eliminates its 1.5 million ounce legacy hedge book to make Newmont the world’s largest unhedged gold producer.

Proud of its record of environmental stewardship and commitment to bringing a better standard of living to the communities in which it operates, Newmont takes a leadership role in sustainability and becomes the first gold company to be included in the Dow Jones Sustainability World Index in 2007.

1916
Colonel William Boyce Thompson

Colonel William Boyce Thompson establishes Newmont Company to manage his expanding portfolio of mining investments. Although headquartered on Wall Street, it incorporates in Maine.

1917
First Major Gold Investment

Newmont makes its first major gold investment by taking a founding 25 percent interest in Anglo American Corporation of South Africa.

1921
Newmont's Birth

Newmont Company reincorporates in Delaware as Newmont Corporation. This becomes the Company’s official birth date.

1925
Renamed Newmont Mining Corporation

Renamed Newmont Mining Corporation, Newmont goes public with shares trading on the Curb Exchange. The Company operates like a mutual fund, buying and selling stock in mining and oil companies.

1928
Newmont Acquires Shares

Newmont acquires its first shares in Magma Copper, a company Thompson founded in 1910. Located in eastern Arizona, Magma becomes a core holding for nearly 60 years and one of the world’s largest copper producers.

Late 1920s
Newmont's Positions

Newmont holds large positions in Kennecott Copper, Hudson Bay Mining and Smelting, Texas Gulf Sulphur, Continental Oil, Standard Oil of California, Standard Oil of Indiana, and eight other mining and petroleum companies – three of them in South Africa.

1929
Stock peaks at $236

Stock peaks at $236 a share in August, just ahead of the market crash. Newmont acquires a controlling interest in California’s two largest gold mines – the Empire and the North Star – which, together with other gold mines in the U.S. and Canada, sustain the Company during the Great Depression.

1930
Thompson Dies

Thompson dies at age 61, leaving a fortune of $150 million. Attorney Charles Ayer, who has been Newmont’s President since 1926, takes the reins. As the Great Depression deepens, dividends and salaries are cut. Ayer takes no pay for his remaining years of service.

1932
Stock Prices Tumble

Newmont is forced to eliminate dividends to shareholders and stock prices tumble to an all-time low as demand for metals and oil falls. Newmont Oil Company is launched to explore Texas and Louisiana for oil reserves.

1934
Roosevelt Fixes Gold Price

President Franklin D. Roosevelt fixes the price of gold at $35 an ounce (up from $20) to help stabilize the economy, making gold mining profitable in the U.S. The price holds until 1971 when gold again trades at free market prices.

1937-39
Newmont Acquires New Mines

In Colorado, Newmont acquires two historic lead, zinc and gold mines, and in South Africa opens the O’okiep Copper Mine, becoming a major source of supply to Allied Forces during World War II.

1940
The Wall Street Journal

The Wall Street Journal reports that Newmont “makes its bow” on the New York Stock Exchange. In the first day of trading, 100 blocks of 100 shares each exchange hands. The closing stock price is $73.13.

1942
Newmont’s VP of Exploration

Fred Searls, Jr., Newmont’s VP of Exploration and later CEO, becomes a “dollar-a-year” man with an office in the White House, dividing his time and contributing his talents to the war effort.

1942
U.S. enters World War II

The U.S. enters World War II after the Japanese attack Pearl Harbor. The government halts gold mining to reassign workers to produce more strategic metals.

1945
Plato Malozemoff joins Newmont

Plato Malozemoff, a Russian emigrant and metallurgist, joins Newmont as a staff engineer at a salary of $4,200 a year. Newmont’s headquarters at 14 Wall Street has 10 offices, each occupied by a member of the Board of Directors.

1947-49
Searls Becomes President

Searls, who travels the world in search of new mining ventures for Newmont, becomes president and Ayer is named chairman.

Newmont acquires an abandoned copper-lead-zinc mine at Tsumeb in southwest Africa (now Namibia) and Palabora, a South African copper mine.

Subsidiary Newmont Oil is asked by cash-strapped Mobil to help finance offshore drilling in the Gulf of Mexico, creating a joint venture that lasts nearly 40 years.

1951
Newmont's Major Investment

Newmont invests $13 million in Sherritt Gordon Mines Limited in Manitoba, Canada, to help develop a process that would yield nickel, copper and ammonium sulfate fertilizer.

1954
New President & CEO

Malozemoff is named President and CEO; Searls becomes Chairman. Malozemoff presides over 30 years of expansion and diversification as Newmont invests in mines and mineral ventures around the world. Some of the biggest names in copper, lead, zinc, lithium and even cement become part of the Newmont portfolio. Newmont moves its corporate office to 300 Park Avenue.

1955-56
Newmont joins Phelps Dodge

Newmont joins Phelps Dodge, American Smelting and Refining, and Cerro de Pasco to form the Southern Peru Copper Corporation.

With strong support from the U.S. government, Newmont takes a majority interest in the Dawn Mining Company, which opens a uranium oxide mine and mill in Washington state.

1957
Magma Copper Opens

Magma Copper opens the San Manuel mine near Tucson, which becomes the largest underground copper mine in the country. Newmont acquires control of Magma in 1961. The Danbury, Connecticut, research facility opens and, along with a geophysical lab in Jerome, Arizona, becomes home to some of the industry’s top scientists.

1960
Atlantic Cement Company

Newmont forms the Atlantic Cement Company to provide cement to the construction industry on the East Coast. Jack Thompson (not related to the founder) escapes Cuba, where he has worked for 15 years. Turning down an offer by “Che” Guevara to become head of mining under Fidel Castro, he joins Newmont and becomes President in 1974.

1961-63
New Gold Discoveries

Geologists John Livermore and J. Alan Coope discover gold at Carlin, Nevada. It’s the world’s first discovery of submicroscopic, disseminated gold and it revolutionizes the gold industry.

1964
Richest Women in America

Margaret Downey, granddaughter of William Boyce Thompson and, according to newspaper accounts, one of the richest women in America with holdings in Newmont and Magma, dies at age 42. She is succeeded on the Board by her daughter, Catherine Hohenlohe, who at 22 becomes the Company’s youngest director. She serves eight years.

1965
Newmont Proprietary

Newmont Proprietary is incorporated to explore for minerals in the Southwest Pacific. On May 4, the first gold bar is poured at the Carlin gold mine near Elko, Nevada.

1967-69
Foote Mineral Company

Newmont acquires a 33 percent interest in Foote Mineral Company, a major producer of iron alloys and lithium products. Newmont acquires all of Magma Copper, a wholly owned subsidiary with earnings of more than $26 million.

1971
Newmont's 50th Anniversary

Newmont celebrates its 50th anniversary with revenues of $241 million and a net income of $55 million. Shareholders receive $28 million in preferred dividends. An original share of stock costing $40 is now worth $14,000.

1971
President Richard Nixon

President Richard Nixon takes the dollar off the gold standard, letting gold trade at free market prices.

1973-74
Australia’s Great Sandy Desert

Geologist David Tyrwhitt discovers the Telfer gold deposit in Australia’s Great Sandy Desert. Production begins in 1977 and, by the mid-1980s, Telfer is the largest gold mine in the country.

After more than 40 years, Newmont sells Empire-Star Mines’ equipment and buildings to the California Department of Parks and Recreation for $1.25 million, but retains the mineral rights.

1977
Largest Corporate Buyout

CEO Plato Malozemoff organizes a consortium to acquire Peabody Coal. At the time, it is the largest corporate buyout in American history.
In southern Africa, O’okiep and Tsumeb are the first mines to eliminate the dual wage scale for black and white workers.

1980
80s Gold Prices

The price of gold reaches a high of $850 per ounce.

1980-82
Carlin Nevada

Gold Quarry is discovered at Carlin. More than 10 million ounces of gold will come from the mine over the next 25 years.

Newmont fends off a takeover attempt by Britain’s Consolidated Gold Fields (ConsGold) by signing a precedent-setting standstill agreement that stops its ownership short of control.

Newmont acquires the T Lazy S Ranch in Nevada, expanding its Carlin land holdings to 350 square miles.

1986
Gordon Parker

Gordon Parker, a South African mining engineer, succeeds Malozemoff as CEO and fends off a series of corporate raiders.

1987
Corporate Raider's

After six years of losses, Newmont divests Magma Copper. Minority interests in the Carlin and Australian gold operations are sold to the public.

Flush with cash and selling at a discount to its net worth, Newmont is the target of corporate raider
T. Boone Pickens. It fends off the attack by paying out a special dividend of $2.2 billion, or $33 per share, and then spends the next two years selling off non-gold assets to cover the debt.

1988
Takeover Looms

Another takeover looms as Minorco, an affiliate of the Oppenheimer South African empire, strikes at ConsGold, Newmont’s largest shareholder. Newmont joins ConsGold in a series of legal maneuvers to preserve its independence. Newmont moves its corporate headquarters to Denver.

1989
1 million Ounces

Gold production in Nevada reaches almost 1.5 million ounces, triple Carlin’s output three years earlier. It is the first time a U.S. gold producer exceeds 1 million ounces in a year. Other gold producers are also expanding, and Elko, Nevada, becomes the fastest growing city in America. ConsGold is acquired by Britain’s Hanson Trust, which becomes Newmont’s largest shareholder.

1990
Peabody Coal

Newmont sells its interest in Peabody Coal to the Hanson Trust, thereby becoming, for the first time, a pure gold company. Sir James Goldsmith, a swashbuckling European billionaire, swaps timberland in the U.S. for the Hanson Trust’s interest in Newmont, now owning approximately 42 percent of the Company. He sells off shares a few years later when the price of gold drops.

1992
Yanacocha Peru

Development begins slowly at Yanacocha in Peru, where gold near the ancient Inca city of Cajamarca is discovered in 1988. Limited capital is invested due to risks associated with terrorist activities of the Shining Path guerillas. Yanacocha becomes one of the largest and lowest cost gold mines in the world.

1993
Uzbekistan

Newmont breaks ground on a joint venture gold project in Uzbekistan, the first major Western investment in the region since the breakup of the Soviet Union. A difficult place to operate, Uzbekistan expropriates the Company’s assets in 2006.

1994
Ronald C. Cambre

Ronald C. Cambre, a chemical engineer, becomes the first outsider to head the Company.

1996
Newmont's 75th Anniversary

Newmont celebrates its 75th anniversary. Newmont makes a hostile bid for Santa Fe Pacific Gold, beating a friendly offer by Homestake Mining. Success substantially increases production, reserves and acreage in Nevada.

1997
Minera Yanacocha

Minera Yanacocha pours its millionth ounce of gold, becoming the largest gold producer in South America.

1998
Tax-Free Merger

Newmont Mining Corporation completes the tax-free merger with Newmont Gold Company, acquiring the remaining 6.25 percent. This is the final step in the consolidation process between Newmont Mining and Newmont Gold that began in 1994. Up to this point, both companies maintained separate listings on the New York Stock Exchange.

Newmont formally dedicates the Malozemoff Technical Facility in Englewood, Colorado, marking its one-year anniversary. This facility is home to Newmont’s geophysical, metallurgy, microbiology, analytical and mineralogy departments.

1998
Malozemoff Technical Facility

Newmont formally dedicates the Malozemoff Technical Facility in Englewood, Colorado, marking its one-year anniversary. This facility is home to Newmont’s geophysical, metallurgy, microbiology, analytical and mineralogy departments.

1999
Newmont Maximizes Production

As the gold price drops to a 20-year low, Newmont maximizes production at Yanacocha and hedges some of its future gold production to protect against a further decline in price.

Production begins at the Batu Hijau copper and gold mine, putting Newmont in the copper business again for the first time in 12 years.

2001
Wayne W. Murdy

Wayne W. Murdy, Newmont’s CFO since 1992, succeeds Cambre as CEO, and is appointed Chairman in 2002. Newmont acquires Battle Mountain Gold, further adding to its position in Nevada.

2002
Three Way Merger

In a challenging three-way merger, Newmont acquires Normandy Mining of Australia and Franco-Nevada of Canada, the gold industry’s leading royalty holder, becoming the world’s largest gold producer. Newmont holds this position until 2006, when Barrick acquires Placer Dome.

Pierre Lassonde, who cofounded Franco-Nevada with Seymour Schulich in 1982, is appointed Newmont’s President, where he remains until his resignation in 2007.

2004
Normandy Merger

After considering selling its Ghanaian interests acquired through the Normandy merger, Newmont discovers a major gold district there defining 16 million ounces of gold.

2006
Record $791 million

Leeville, Newmont’s newest underground mine, begins production on the Carlin Trend. Earnings set a record at $791 million, or $1.75 per share on revenue of $5 billion. Production begins on the first of two projects in Ghana on land acquired in the Normandy merger.

2007
Murdy Retires

After more than six years as CEO, Murdy retires and is succeeded by Richard T. O’Brien, who joined the Company as CFO two years earlier.

O’Brien eliminates Newmont’s 1.5 million ounce hedge book and sells its portfolio of royalty holdings acquired in the Franco-Nevada merger in order to reinvest in Newmont’s core gold business.

Newmont is included in the Dow Jones Sustainability World Index, the premier sustainability index tracking the performance of 2,500 leading companies, worldwide.

2008
$1,000 Per Ounce

On March 13, gold breaches the $1,000 per ounce mark for the first time in history.

2008
Miramar Mining Corporation

Newmont acquires Miramar Mining Corporation and its world-class Hope Bay project in the Canadian Arctic, one of the largest undeveloped gold deposits in the world.

2009
Newmont's Community Relationships

The unprecedented, independent Community Relationships Review is released providing a comprehensive analysis of how Newmont manages community relationships, as well as recommendations for improvement.

In June, Newmont acquires the remaining one-third interest in Boddington Gold Mine, the largest gold project in Australia, bringing Newmont’s ownership to 100 percent. Commercial production begins in November.

Newmont and its partner Sumitomo Corporation complete sale of 10 percent stake in PT Newmont Nusa Tenggara to a consortium of Indonesian entities, as required by the Contract of Work. Another 21 percent stake is sold over the next two years.

2009
Boddington Gold Mine

In June, Newmont acquires the remaining one-third interest in Boddington Gold Mine, the largest gold project in Australia, bringing Newmont’s ownership to 100 percent. Commercial production begins in November.

2010
All-Time High

In December, the gold price reaches an all-time high of $1,431 per ounce.

2010
Corporate Responsibility Magazine

Newmont is ranked 16th on Corporate Responsibility Magazine’s 11th annual 100 Best Corporate Citizens List for 2010, joining respected businesses such as Hewlett-Packard, Intel, Coca-Cola, IBM and Microsoft in the List’s top 20.

2011
90th Anniversary

Newmont celebrates its 90th anniversary since incorporation on May 2.

Newmont acquires Fronteer Gold for $2.3 billion, which increases Newmont’s asset base in Nevada with the addition of Fronteer’s Long Canyon, Northumberland and Sandman projects.

On April 7, Newmont announces the industry’s first gold price-linked dividend. In September, gold closes at an all-time (nominal) high of $1,895 per ounce.

2012
Gary J. Goldberg

Gary J. Goldberg succeeds O’Brien as CEO. Goldberg was appointed President and Chief Operating Officer in July 2012, having previously served as Executive Vice President and Chief Operating Officer since December 2011.

2013
Akyem Ghana

Gary J. Goldberg appointed President and Chief Executive Officer; receives AIME’s prestigious Jackling Award for his lifelong contribution to safety and health in the mining industry.

Newmont achieves commercial production at the Akyem gold mine in Ghana and the Phoenix Copper Leach facility in Nevada – both projects are delivered on time and on budget.

Between March and June of 2013 the price of gold falls by approximately $400 an ounce – Newmont launches its Full Potential program to affect a step-change in operational efficiency and productivity.

2014
Merian Project

Newmont breaks ground on the Merian project in December, establishing a profitable new mine in Suriname and a foothold in the highly prospective Guiana Shield.

Improved technical fundamentals help Newmont deliver a step-change in performance at Tanami; realign mining and milling rates at Ahafo; and integrate its approach to developing the next generation of sulfide and oxide deposits at Yanacocha.

Newmont brings total proceeds from the sale of non-core assets to nearly $1.4 billion since 2012, and in 2014, closed sales of Midas, Jundee, La Herradura and Paladin.

2015
Cripple Creek & Victor

Newmont completes the purchase of the Cripple Creek & Victor in Colorado, a value accretive acquisition in a favorable jurisdiction.

Construction begins on the first phase of Long Canyon, a gold mine with significant upside potential in an emerging district near existing Nevada operations.

Dow Jones Sustainability World Index ranks Newmont as the mining industry’s leader in overall sustainability.

2016
95th Anniversary

Newmont celebrates its 95th anniversary since incorporation on May 2, and reaffirms its commitment to becoming the world’s most profitable and responsible gold businesses.

Global banking and finance expert Noreen Doyle named Chair of Newmont’s Board of Directors. The Company delivers strong first quarter results and earns the best credit rating in the gold sector.

2019
Newmont & Goldcorp

Newmont combines with Goldcorp to create the world’s leading gold company as measured by assets, prospects and people. Read the press release here.