Newmont Mining Corporation Marks 90th Anniversary
DENVER, May 2, 2011 /PRNewswire/ — Today, Newmont Mining Corporation (NYSE: NEM) celebrates its 90th anniversary since its official incorporation on May 2, 1921. The Company is headquartered in Greenwood Village, Colorado and has approximately 34,000 employees and contractors working across the globe.
Founded by Colonel William Boyce Thompson, Newmont began managing private mining investments while over the decades adapting to meet growing global demand for a variety of natural resources. Newmont’s portfolio, in years past, included companies such as Kennecott Copper, Standard Oil, Magma Copper, Peabody Coal, Atlantic Cement, and others.
Today, Newmont is the world’s second largest gold producer and is ranked 394 on Forbes’ Global 2000 list and 295 on the Fortune 500. In 1940, when Newmont’s shares began trading on the New York Stock Exchange, it was one of approximately 1,000 companies on that Exchange. Only 77 of those 1,000 companies continue to be traded on the NYSE, today.
Newmont’s vision is to be the most valued and respected mining company through industry leading performance. Over the years it has demonstrated that leadership through a number of innovative accomplishments in the mining industry.
- The first mining company to discover and produce submicroscopic, disseminated gold in 1965, which, along with Newmont’s heap-leaching process, revolutionized the gold mining industry.
- Newmont led the elimination of the dual wage scale, based on race, in the southern Africa in 1977.
- With its focus on responsible production, Newmont became the first gold company to be included in the Dow Jones Sustainability World Index in 2007.
- In 2011, Newmont became the first gold mining company to offer a gold price-linked dividend to shareholders.
“Our 90-year legacy of leadership and innovation provides a strong foundation to grow our business in a profitable and responsible manner,” said President and Chief Executive Officer, Richard T. O’Brien. “I have the privilege of traveling to Newmont’s various locations around the globe, and I am always humbled by the quality, skill and commitment of our people. As we embark on our recently announced growth program, I know we will succeed because Newmont’s employees have demonstrated over and over that they are unmatched in the mining industry.”
Founded in 1921 and publicly traded since 1925, Newmont (www.newmont.com) is one of the largest gold companies in the world. Headquartered in Colorado, the Company has approximately 34,000 employees and contractors, with the majority working at core operations in the United States, Australia, Peru, Indonesia, New Zealand and Ghana. Newmont is the only gold company listed in the S&P 500 index and in 2007 became the first gold company selected to be part of the Dow Jones Sustainability World Index. Newmont’s industry leading performance is reflected through high standards in environmental management, health and safety for its employees and creating value and opportunity for host communities and shareholders.
SOURCE Newmont Mining Corporation