Newmont Goldcorp Corp.
NEM.US | Mining of other non-ferrous metal ores
Newmont Goldcorp Corp. is a leading gold producer with significant operations and assets in the United States, Australia, Peru, Ghana, and Suriname. The company focuses on the exploration, development, and production of gold and copper. Newmont engages in activities such as open-pit and underground ...Show More
Better Health for All
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Newmont's core mining operations have severe negative health impacts, including 5 fatalities within a 12-month period
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and environmental pollution causing illnesses in nearby communities.
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The company has a poor safety record, with 127 workplace safety violations since 2000,
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and evidence of injury data being handled to avoid affecting company statistics,
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indicating manipulation of health records. Workers also fear retaliation for reporting safety concerns.
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Despite these significant challenges, Newmont demonstrates strong commitment to health through various programs. It established a $20 million Global Community Support Fund for the pandemic
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and committed $5 million for humanitarian efforts in Ukraine.
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The company has transformative mental health initiatives, including a global standard and training for over 4,500 leaders,
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leading to a 220% increase in service use in Ghana.
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It provides exceptional healthcare workforce support, training over 400 local health providers in essential newborn care,
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which led to a 95% reduction in stillbirths.
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Preventative health measures are also exceptional, including comprehensive fatigue management
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and a program that reduced high cholesterol prevalence from 24% to 16%.
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The company's core products are not health-related, nor do they have addiction potential.
Fair Money & Economic Opportunity
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Newmont Goldcorp Corp, a mining company, does not offer consumer lending, deposit, or other financial products, which makes several KPIs under Fair Money & Economic Opportunity not applicable. The company has no APR or fee structures to evaluate, no revenue from high-cost financial products, no customer finance data to manage, is not regulated as a lender, does not provide debt products to consumers, and does not operate financial service access points. For wealth building outcomes, 78% of micro, small, and medium enterprises (MSMEs) participating in the Ahafo Linkages Program reinvested at least 2,000 Ghana Cedis (US$1,348) into their businesses.
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No specific quantitative data is available for the percentage of annual pre-tax profit reinvested in community finance or the reach and outcomes of financial literacy programs.
Fair Pay & Worker Respect
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Newmont Peñasquito and the National Union of Mining, Metallurgical, Steel, and Similar Workers of Mexico signed a new Collective Bargaining Agreement for 2024-2026 on October 6, 2024.
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This followed a strike at the Peñasquito mine from June 7, 2023, to October 6, 2023, initiated by a union demanding increased profit-sharing and alleging Collective Bargaining Agreement violations.
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The strike concluded with an 8% wage increase and bonuses, though the profit-sharing percentage remained at 10%.
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By the end of 2023, female representation was 16% enterprise-wide, 11% in operations, and 33% in senior leadership roles.
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Additionally, 46% of independent directors were female, with 69% being either gender or ethnically diverse.
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In 2022, the company launched a refreshed three-year Health, Safety, and Security Strategy.
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Fair Trade & Ethical Sourcing
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Newmont reported no identified or reported cases of child labor in 2024.
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An allegation of forced labor conditions at a supplier was investigated by authorities, but no criminal violation was found.
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The company conducts due diligence on potential suppliers for forced labor links, including desktop reviews and third-party screening of Tier 1 and Tier 2 suppliers.
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The company implements a Supplier Risk Management (SRiM) Program and prohibited party screening.
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All suppliers and their subcontractors are required to adhere to contract terms that include compliance with the Supplier Code of Conduct, policies, standards, and human rights clauses.
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In 2024, Newmont directed $1.521 billion, or approximately 16.71% of its total supply spend of $9.1 billion, to local/Indigenous suppliers.
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Honest & Fair Business
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Newmont incurred approximately $635,850 in ethics-related regulatory fines over the past three years.
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This includes a $411,500 penalty for breaching air pollution regulations at its Cadia mine, with violations occurring in 2021, 2022, and 2023.
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Additionally, the company faced fines in 2024 totaling $224,350 for air pollution, workplace safety, and mining environmental violations.
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The Board of Directors demonstrates high independence, with 12 out of 13 directors being independent non-executive directors, representing 92.3% of the board.
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Newmont maintains a comprehensive anti-corruption policy that explicitly prohibits bribes and facilitation payments.
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It applies to third-party workers where stated in contracts, includes risk-based steps to identify beneficial owners of partners and suppliers, and requires a gift registry for items over $100.
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More than 70 business leaders are certified quarterly to uphold anti-corruption commitments, and a Supplier Prequalification Survey is used to identify risks.
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,
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The company has a comprehensive whistleblower policy, publicly available and applicable to officers, employees, suppliers, and associates.
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It allows anonymous disclosures through an independently operated, 24-hour Integrity Helpline and an Ethics Solution Tool, providing strong protections against victimization and retaliation, stating such actions may be a criminal offense punishable by imprisonment.
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,
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Kind to Animals
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Newmont participated in the 2022 UN Biodiversity Conference (COP15) to help develop the Global Biodiversity Framework
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. The company also signed an agreement with Nevada and the U.S. Department of the Interior to protect sage grouse habitat
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.
No War, No Weapons
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Newmont's core business is gold production, with no evidence of involvement in arms manufacturing, military contracts, or dual-use technology. The company has adopted the Conflict-Free Gold Standard, ensuring 100% of its gold production does not contribute to armed conflict or human rights abuses, with external assurance.
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Newmont adheres to the UN Guiding Principles on Business and Human Rights, implementing a Supplier Risk Management Program across several sites.
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This includes human rights training for over 180 suppliers and approved risk mitigation plans for 100% of high-risk suppliers, ensuring the supply chain does not contribute to conflict or rights violations.
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The company states compliance with UN sanctions.
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In 2022, Newmont committed $5 million to humanitarian efforts in Ukraine.
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Additionally, in 2019, it invested $25 million in community initiatives at its Peñasquito mine to resolve local disputes and establish a water pact.
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Planet-Friendly Business
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Newmont's 2030 emissions reduction targets have been approved by the Science Based Targets initiative (SBTi), with a net-zero target by 2050 and staged milestones.
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Renewable energy accounts for 27% of total purchased grid electricity.
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The company's 2022 Climate Report was prepared in alignment with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.
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Newmont conducts climate scenario analysis, integrating climate change projections into water balance models for all sites
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and performing scenario-based risk assessments.
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However, in 2024, Newmont recorded seven environmental events classified as having a level 3 or higher consequence
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and experienced 30 cyanide-related spills.
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Total environmental fines paid in 2024 amounted to $694,209.
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Furthermore, the Akyem Mine in Ghana has faced criticism for inadequate compensation to displaced local farmers and environmental degradation
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, with protests met with violent suppression.
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Respect for Cultures & Communities
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In November 2024, the Taykwa Tagamou Nation filed a claim against Newmont, alleging a failure to consult on the recommissioning of the Pamour Mine
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. The First Nation asserts that the project infringes on their Treaty 9 rights and disrupts their cultural practices. This constitutes an alleged cultural appropriation incident and an alleged disruption to cultural sites/practices. Newmont has also undertaken initiatives to support cultural heritage, including the Akyem Mine donating traditional items in December 2024 to support the Akwasidae festival in Ghana
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. In May 2024, the company introduced a cultural heritage training video series
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. By May 2022, Newmont developed a Cultural Support Standard Operating Procedure at its Merian mine in Suriname to respect the Pamaka community's burial ceremonies
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Safe & Smart Tech
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Newmont is certified compliant with ISO27001, a globally recognized comprehensive information security management standard.
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Zero Waste & Sustainable Products
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Newmont initiated the GeoStable Tailings Consortium in May 2023 with seven other mining companies to incorporate waste rock in tailings management, aiming to optimize water usage and waste stability.
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Additionally, in 2017, Newmont's Cripple Creek and Victor Gold Mine's Cresson Project was recognized for its leadership in recycling and repurposing materials used in operations.
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