Newmont Ghana urges cooperation to help reach economically viable labor agreement under challenging business conditions

04/07/2015

Accra, 7th April, 2015 - Newmont Ghana is urging cooperation from the Ghana Mineworkers Union (GMWU) to help reach a mutually beneficial, equitable and economically sustainable labour agreement, given the challenging business conditions the company and gold mining industry face.

"We remain ready to continue good-faith negotiations with the GMWU to protect the interests of workers through the long-term sustainability of our operations and the ongoing creation of shared value for all of our stakeholders,” said Pascal Kanbonnabah, Newmont’s Regional Vice President, Human Resources. “It is our strong desire to conclude the negotiations as soon as possible so we can all focus on safely managing the business and sustaining the livelihoods of our employees and host communities.”

The parties have been engaged in a negotiation process since late 2014 and have not yet reached a mutually acceptable agreement on a remuneration package that is equitable while ensuring the business remains sustainable in an environment of lower ore grades at Ahafo, unstable gold price, power supply and reliability.

Recently, the company and GMWU communicated they were resuming good-faith negotiations on their labour contract. However, the company has been unable to reach settlement with the GMWU and the two parties are preparing to appear before the National Labour Commission for mediation.

About Newmont Ghana

Newmont Ghana is one of five core operating districts of Newmont Mining Corporation (www.newmont.com), one of the largest gold companies in the world. Newmont Ghana operates the Ahafo Mine in the Brong-Ahafo Region and the Akyem mine, in the Birim North District of the Eastern Region. The company employs approximately 5,900 employees and contractors, with the majority working at its Ahafo Mine.

Newmont is the only gold company listed in the S&P 500 index and in 2007 became the first gold company selected to be part of the Dow Jones Sustainability World Index. Newmont’s industry leading performance is reflected through Newmont Ghana’s high standards in environmental management, health and safety for its employees and creating value and opportunity for its host communities and Newmont’s shareholders.

More information can be found in Newmont's annual sustainability report, www.BeyondTheMine.com. The report is published as part of Newmont’s ongoing obligations as a founding member of the International Council on Mining and Metals (www.icmm.com) and in accordance with its commitments under the United Nations' Global Compact (www.unglobalcompact.org) and the Voluntary Principles on Security and Human Rights (www.voluntaryprinciples.org).

Regional Media Contact:

Adiki O. Ayitevie
Director, External Affairs and Communications
024 433 0870
Adiki.Ayitevie@newmont.com