Beyond the Mine: Newmont Goldcorp aims at zero workplace fatalities

Newmont Goldcorp Corporation (NYSE: NEM and TSX: NGT) on Monday, 22 April 2019, published its annual report on environmental, social and governance performance – Beyond the Mine...


Newmont Goldcorp Corporation (NYSE: NEM and TSX: NGT) on Monday, 22 April 2019, published its annual report on environmental, social and governance performance – Beyond the Mine.

Because the report’s scope is for the 2018 calendar year, data and performance for Goldcorp – which combined with Newmont last week – is not included in the report.

“In 2018, our employees and contractors continued to build on Newmont’s industry leading environmental, social and governance performance,” said Elaine Dorward-King, Newmont Goldcorp’s Executive Vice-President for Sustainability and External Relations.

“We also identified opportunities for improvement and the challenges that Newmont and the mining industry must address if we are to continue meeting the expectations of our stakeholders and society at large”, she added.

Newmont’s 2018 sustainability highlights include:

• Conducting the first integrated environmental and social impact assessment under an improved approach to free, prior and informed consent of indigenous peoples at the Sabajo project near the Merian operation in Suriname;
• Launching a Supplier Risk Management program to significantly improve how risks – including corruption, safety, social, environmental, human rights and security – are managed throughout the supplier relationships lifecycle;
• Refreshing Newmont’s global inclusion and diversity strategy and including metrics to measure inclusion and diversity;
• Distributing more than $6.5 billion in economic value including $1.4 billion in wages and benefits, nearly $520 million paid in taxes and royalties, and $1.1 billion spent with local suppliers;
• Partnering with the International Union for Conservation of Nature (IUCN) and working together on achieving better biodiversity outcomes through a review of the Company’s biodiversity projects in Nevada;
• Minimising the risk of catastrophic tailings dam failures by strengthening Newmont’s tailings governance framework to include reviews of its five high-priority tailings storage facilities by independent technical review boards; and
• Reducing water consumption by six percent (compared to the 2016 base year) and maturing Newmont’s water strategy focus toward water stewardship.

One key area of performance for Newmont is having no workplace fatalities. Regrettably, in 2018, Newmont experienced seven fatalities – six colleagues were killed in a tragic accident at the Ahafo Mill Expansion project in Ghana in April, and another died in November at the Pete Bajo underground operation in Nevada. To help prevent such events from happening again, Newmont formalised a global lessons-learned programme where root causes and critical lessons on significant safety incidents were shared with more than 9,500 employees and contractors. In addition, lessons were shared with the broader mining industry.

For an unprecedented four years in a row, Newmont was named the mining sector leader in the Dow Jones Sustainability World Index. Newmont’s assessment grade in the 2018 CDP (formerly known as the Climate Disclosure Project) Climate Change report improved to "A-" (up from "B" in 2017), and Newmont was one of 230 companies named to Bloomberg's 2019 Gender-Equality Index, achieving a score of 84 out of 100 – above the Index average of 73.

Beyond the Mine was compiled in accordance with the GRI (formerly the Global Reporting Initiative) Standards Core option. It also reflects Newmont’s reporting obligations as a founding member of the International Council on Mining and Metals and as an early adopter of the UN Guiding Principles Reporting Framework, the first comprehensive guide for reporting on human rights risks.

About Newmont Goldcorp

Newmont Goldcorp 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 Goldcorp is the only gold producer listed in the S&P 500 Index and is widely recognised 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 Goldcorp was founded in 1921 and has been publicly traded since 1925.


Source: Ghana/ClassFMonline.com/91.3FM



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