Newmont

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 favourable 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.
Supporter since 2014
Supporting Company through membership of ICMM

Statement of Support

Mr. Tom Palmer, President and Chief Executive Officer at Newmont
Transparency around taxes, royalties and payments to governments from natural resource development is essential to building trust with stakeholders. Transparency coupled with strong governance promotes accountability for both companies and governments alike. Internationally accepted standards like EITI provide both the framework and credibility to our efforts as a company to truly deliver on our purpose of creating value and improving lives through our payments to governments and our broader contributions to local economic development.

Engagement with the EITI 

Newmont is actively involved with EITI's efforts to improve governance in resource-rich countries. The company supports EITI's efforts to transparently account for revenues by openly disclosing their tax and royalty payments. According to Newmont, such programs are designed to reduce the devastating effects that corruption can have on economic development and the rule of law in these contexts. Therefore, businesses, governments, investors and civil society all have an important role to play in improving and expanding transparency.

Newmont is part of the multi-stakeholder groups in Ghana via the Chamber of Mines, in Mexico via the Mexican Mining Chamber, and in Peru via the Sociedad Nacional de Mineria y Petroleo. In Guatemala, Newmont is an industry representative on the EITI National Working Group. Newmont supported the Minerals Council of Australia when the government announced its intention to apply as an EITI implementing country in 2016. It is an active member of the International Council on Mining and Metals (ICMM) who coordinates the EITI mining sub-constituency. 

Strengthening transparency

In its annual Extractive Sector Transparency Measures Act report (ESTMA) Newmont publicly discloses payments to governments. The publication of Newmont's sustainability reports is available here.

In Beyond the Mine Sustainability Report, Newmont publicly discloses payments to governments from its mining operations.

Link to the statement of support on Newmont's website

Statement of Support to the EITI on Newmont's website