Mining the Territory

11/01/2014

How Newmont turned around its safety and production track record at its Tanami Operations was the subject of the key address delivered by Newmont General Manager Operations Francois Hardy at the 8th Annual Mining the Territory Conference in August.

With record year-on-year investment in mining developments and exploration in the Northern Territory, the conference attracted a record crowd keen to hear about operating or developing resource projects in the regions of the Northern Territory.

Francois attended the event to talk about the journey to Full Potential at Newmont Tanami and how the business regained control during the 2013 downturn in metal prices, and how it is continuing to sustain the business in a depressed metal price environment and create growth during a downturn.

Francois’ speech also focused on the impressive improvement in safety record at Tanami, where Total Recordable Accidents have decreased by 46 per cent, falling from 41 accidents in 2012 to 22 accidents in 2013.

“In addition, Lost Time Injuries have decreased from 18 injuries in 2012 to two injuries in 2013,” Francois said. “This is particularly impressive given the mine delivered a 42 per cent increase in ounces produced and a 30 per cent increase in ore mined in 2013.”

Newmont Tanami has managed to continue to improve its safety statistics this year, achieving a Lost Time Injury free period for more than 12 months and producing a 38 per cent year to date improvement in its 12 month Total Recordable Accident Frequency Rate (TRAFR) month on month average.

Going forward Francois said Tanami was targeting more than 450kozs at CSC at less than $1,000/oz, which would support future growth investment options and generate attractive net profit value (NPV) and long term free cash flow (FCF).