Newmont Corporation has said it will appoint Peter Toth as Executive Vice President, Strategic Development, to support the positioning of the company for the next 100 years for strategic growth for its stakeholders.

The 25-year veteran of the industry will join Newmont effective July 1, 2022.

A statement issued by Newmont said Mr Toth has extensive management and leadership experience in various senior commercial, strategic and operational roles across Europe, Singapore, Australia and the United Kingdom with Rio Tinto, BHP and OM Holdings.

Newmont President and Chief Executive Tom Palmer said: “Peter brings a wealth of global commodity experience that will benefit Newmont as we enter our next 100 years as the world’s leading gold company. Peter’s extensive background in corporate, operational and sustainability strategy will ensure we deliver our purpose of creating value and improving lives through sustainable, responsible mining.”

Mr Toth most recently served as Group Executive, Strategy and Development of Rio Tinto, with responsibility for Rio Tinto’s strategy, sustainability, and portfolio transformation efforts.

He joined Rio Tinto in 2014 as Global Head of Strategy and became Head of Corporate Development in 2015.

He established Rio’s current corporate strategy team, streamlined Rio’s commodity and asset portfolio and led the development of Rio’s 10-year climate strategy, supporting the company’s ambition of reaching net-zero emissions by 2050.

Prior to joining Rio Tinto, Toth was Chief Executive of the ASX-listed OM Holdings Ltd. (OMH), an integrated manganese and ferrosilicon company with global mining, smelting, and trading operations. He is noteworthy for strengthening OMH’s operational and financial performance.

Toth began his career with BHP in 1994, where, over the course of 15 years, he held a series of roles of increasing responsibility and scope.

Mr Toth holds a Bachelor of Business degree from Monash University, a Graduate Certificate in Management from Deakin University and a Master of International Business degree from the University of Melbourne, in addition to executive development programs at INSEAD, Stanford and Oxford University. He and his wife will reside in the Denver area.

In his role as Executive Vice President of Strategic Development, Peter will be responsible for all aspects of strategic planning for Newmont, encompassing short- and long-term growth, strategy, portfolio assessment, business development, joint venture structures and strategic partnerships.