Published: Thursday, 06 April 2017 17:49
Written by E&MJ News
Newmont Mining published Beyond the Mine, the company’s annual report on its progress toward achieving its purpose – to create value and improve lives through sustainable and responsible mining. “Building a healthier, safer and more environmentally sound and socially responsible business is embedded in our long-term business strategy and our values,” said Elaine Dorward-King, executive vice president for sustainability and external relations, Newmont Gold. “Each year, we transparently report on our progress toward meeting this commitment and on where we have room for improvement.” The highlights include the following:
• Experiencing no fatalities at any Newmont site or facility during the year and reducing the number of serious injuries by 75%;
• Generating $5.8 billion in economic value throughout our operating regions, including $1.3 billion in wages and benefits, nearly $400 million in taxes and royalties and $16 million in community investments;
• Collaborating with federal and state agencies in the United States on an unprecedented agreement governing our management of more than 1.5 million acres of sagebrush habitat in Nevada; and
• Advancing the company’s human rights strategy through human rights impact assessments, a new artisanal and small-scale mining engagement strategy, and an independent study related to free, prior- and informed-consent (FPIC) of indigenous peoples.
The report also discusses challenges Newmont addressed during the past year including:
• Maintaining one of the lowest injury rates in the industry, but falling short of the company’s goal to further reduce injury rates and missing targets to increase aboriginal hiring at one site and to complete water management action plans at two others;
• Publishing the findings of an independent examination of the issues associated with a complex land dispute between the company’s Yanacocha operation and the Chaupe family in Peru; and
• Updating the reclamation plan for Yanacocha, which resulted in a significant increase in the Company’s estimated future closure costs.
The report, which was compiled in accordance with the Global Reporting Initiative’s G4 Core option and independently assured, reflects Newmont’s reporting obligations as a founding member of the International Council on Mining and Metals (ICMM) and as an early adopter of the UN Guiding Principles Reporting Framework, the first comprehensive guide for reporting on human rights risks.
The full report is available at www.beyondthemine.com