Newmont Establishes $20 Million Community Support Fund
Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced the establishment of a US$20 million fund to help host communities, governments and employees combat the COVID-19 pandemic. The Newmont Global Community Support Fund (the Fund) builds upon other local contributions and efforts the Company has implemented over the last month. Newmont will partner with local governments, medical institutions, charities and non-governmental organizations to target funds towards addressing the greatest needs with a view to serving as a catalyst for long-term resiliency and future community development.
Chief Executive Officer Tom Palmer said: “Around the globe, we have implemented controls at our operations and offices to put the health, safety, and overall wellbeing of our people and communities above all else. We have been working closely with host governments and communities to implement strict safety protocols at our sites with physical distancing and reduced workforce presence. We are also implementing the provision of hygienic and other critical supplies and training and, in certain cases, pre-emptively ramping down operations to safeguard vulnerable communities, or placing operations in care and maintenance to align with government efforts.”
“Our employees, local contractors and their families live in the communities that host our operations and the health of our business is inextricably linked to the health of those communities. We not only want to protect our people and host communities from this pandemic, we want to build lasting resiliency so that our host communities thrive after the worst of this pandemic passes. As a global business with operations in eight countries, we are committed to doing our part to combat this disease and protect people and their livelihoods.”
“With input from local stakeholders, we have identified three focus areas to ensure that our financial support will have the most positive impact and reach those who need it most. We are engaging with our partners to deploy our resources across three key areas:
- Employee and Community Health;
- Food Security; and
- Local Economic Resilience.”
“In partnership with local institutions and stakeholders, we will closely monitor the progress and outcomes of our support so that we are able to fine-tune and improve results along the way. Our efforts to support communities are already under way. We will use the Fund to build upon those efforts and use our global reach to amplify our ability to make a strong and positive impact across our host communities.”
“Newmont’s core values of safety, sustainability and responsibility are integral to creating long-term value for our investors, host governments and communities, and employees. During this challenging time, where many of our people are worried about their own jobs and livelihoods, we have seen a commitment from across our organization to join the fight in the communities where they live and work. While this pandemic is still evolving, we will continue to support our employees as best we can so that they in turn can continue to support their communities.”
“Our purpose to create value and improve lives through sustainable and responsible mining is more relevant now than ever before. The strength of our portfolio of world-class assets across top tier jurisdictions underpins the financial flexibility to take care of our employees, communities and shareholders. I am proud of the way our employees have responded to these challenging times. More information about Newmont’s COVID-19 response can be found here.”
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical proficiency. Newmont was founded in 1921 and has been publicly traded since 1925.
This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. Forward-looking statements often address our expected future business and financial performance and financial condition; and often contain words such as “anticipate,” “intend,” “plan,” “will,” “may,” “could,” “would,” “estimate,” “expect,” “believe,” or “potential.” Forward-looking statements in this news release may include, without limitation statements regarding (i) expectations of first quarter 2020 outlook, (ii) expectations regarding on-going gold production (including from leach pads) and other activities at sites, (iii) expectations regarding shipping of concentration, transportation and refining of product and mitigation efforts, (iv) expectations regarding long-term value creation, and (v) other expectations regarding the impact of the COVID-19 pandemic on the financial results and operations of our mine sites and overall business, including with respect to the Company’s guidance. Risks include uncertainties relating to the global economic impact of COVID-19, particularly with respect to the mining industry in the jurisdictions in which we operate, the ability of operate following changing governmental restrictions on travel and business operations (including, without limitation, the duration of restrictions, including access to sites, ability to transport and ship dore, access to processing and refinery facilities, impacts to international trade, impacts to supply chain, including price, availability of goods, ability to receive supplies and fuel, impacts to productivity and operations in connection with decisions intended to protect the health and safety of the workforce, their families and neighboring communities. In light of the changing environment and uncertainties, no guarantees can be provided that Newmont’s proactive efforts to minimize impacts will effective in eliminating risks. For a discussion of risks and other factors that might impact future looking statements, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 filed with the U.S. Securities and Exchange Commission (the “SEC”), under the heading “Risk Factors”, available on the SEC website or www.newmont.com. The Company does not undertake any obligation to release publicly revisions to any “forward-looking statement,” including, without limitation, outlook, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued “forward-looking statement” constitutes a reaffirmation of that statement. Continued reliance on “forward-looking statements” is at investors’ own risk.
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