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Our Approach to Economic and Social Development: Contributing to Value Creation

Newmont’s operations span across the globe. The communities where we operate are diverse and include a wide range of cultures, perspectives and values. We strive to forge meaningful relationships with those connected to our operations and work to develop a strong understanding of their needs so we can deliver on our purpose of creating value and improving lives.

Delivering value requires that we first understand community concerns through ongoing and honest communication that builds trust. A survey of over 400 community leaders in 2018 gave us insight into what matters most to local stakeholders and helped us focus our investments in social and environmental assessments, community development committees and boards, socio-economic programs, foundations and funds to address their concerns.

In Suriname, one of our newest operations, we implemented the free, prior, and informed consent (FPIC) solutions dialogue to ensure indigenous communities in the region remain engaged in project decisions without coercion, intimidation or manipulation. Additionally, all of our sites maintain a complaints and grievances (C&G) register to make sure stakeholders know how they can raise concerns, with confidence that they will be resolved.

Targets demonstrate our commitment to transparency in ways that communities can see and recognize. In 2018, we achieved our goal for local indigenous employment at all of our mine sites. We also set a global target to spend $821 million on local suppliers throughout the year, and then surpassed it by $282 million. Our Supplier Risk Management Program, launched last year, ensured that all suppliers met anti-corruption and human rights criteria.

We also contributed almost $1.3 million in 2018 to the Newmont Akyem Development Foundation in Ghana, through which Akyem’s Educational Quality Improvement Program (EQUIP) is financed.

Our approach to economic and social development is a key component of our business strategy and ensures our ability to deliver long-term value well into the future. Read more about our efforts to drive local development opportunities in “Expanding Opportunities for Aboriginal People Through Reconciliation,” as featured in 2018’s Beyond the Mine report.