Surgold and the Pamakan Community Solidify Cooperation

06/11/2016

Surgold a fully owned subsidiary of Newmont Mining Cooperation and the Pamakan Community signed an extensive cooperation agreement on Saturday 11 June 2016 at Langa Tabiki, in the presence of hundreds of Pamakans.

The agreement was signed by four Head Captains of the Pamaka Community, Albert Kamil, Walter Doedoe, Henry Cedar and Anthony Abaqi and the Managing Director of Surgold Adriaan van Kersen during a traditional Maroon ceremony. Also present during the ceremony were the Ministers of Regional Development and Natural Resources, respectively Mr. Edgar Dikan and Mr. Regilio Dodson.

The event was marked by traditional pouring of libation to honor the Pamakan forefathers to seek blessings for the signing of the agreement. The ceremony also included performance with a traditional Apinti drumming and dance performance which is reserved for such traditional occasions in the community.

During the nine month discussions the Pamakan Community was represented by the Pamakan Negotiating Community (POC), chaired by Mr. Adriaan Adawde.

The agreement has focus areas around the management of the employment of local people from the Pamakan area and the development of procurement opportunities for local Pamaka businesses. In addition, Surgold is in the process of creating a Community Development Fund with the purpose of the sustainable development of the Pamaka community.

At present, there are over 200 Paramacca people employed (about twenty percent of the total) and Surgold is doing business with approximately twenty local suppliers and companies from the Pamaka area.

The parties also have agreed to support the small-scale gold mining, the sector where many Pamaka community members earn their income. Surgold will support these entrepreneurs by conducting research into safer and more environmentally friendly winning methods. The aim is to reduce the use of harmful mercury.

Another important part of the agreement is the engagement that Surgold and the community have regarding the environmental impact of the presence of the Surgold mines in the area. A comprehensive environmental monitoring system, with direct involement from the local community, has been set up for this.

Surgold sees the collaboration with the community as an important step in its policy on sustainability, corporate social responsibility through meaningful and regular engagement with the local community.

The Merian mine is over 90% completed and its expects to begin later this year with the production of gold.

Newmont is a leading gold and copper producer. The Company employs approximately 27,000 employees and contractors, with the majority working at managed operations in the United States, Australia, Ghana, Peru, Indonesia 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. 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.: