Coronavirus: Newmont Corp. establishes US$20 million community support fund
Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced the establishment of a US$20 million fund to help host communities, governments and employees combat the COVID-19 pandemic.
The Newmont Global Community Support Fund (the Fund) builds upon other local contributions and efforts the Company has implemented over the last month.
Newmont will partner with local governments, medical institutions, charities and non-governmental organizations to target funds towards addressing the greatest needs with a view to serving as a catalyst for long-term resiliency and future community development.
Chief Executive Officer Tom Palmer said: “Around the globe, we have implemented controls at our operations and offices to put the health, safety, and overall wellbeing of our people and communities above all else. We have been working closely with host governments and communities to implement strict safety protocols at our sites with physical distancing and reduced workforce presence. We are also implementing the provision of hygienic and other critical supplies and training and, in certain cases, pre-emptively ramping down operations to safeguard vulnerable communities, or placing operations in care and maintenance to align with government efforts.”
“Our employees, local contractors and their families live in the communities that host our operations and the health of our business is inextricably linked to the health of those communities. We not only want to protect our people and host communities from this pandemic, we want to build lasting resiliency so that our host communities thrive after the worst of this pandemic passes. As a global business with operations in eight countries, we are committed to doing our part to combat this disease and protect people and their livelihoods.”
“With input from local stakeholders, we have identified three focus areas to ensure that our financial support will have the most positive impact and reach those who need it most. We are engaging with our partners to deploy our resources across three key areas:
*Employee and Community Health; Food Security; and Local Economic Resilience.”
“In partnership with local institutions and stakeholders, we will closely monitor the progress and outcomes of our support so that we are able to fine-tune and improve results along the way. Our efforts to support communities are already under way. We will use the Fund to build upon those efforts and use our global reach to amplify our ability to make a strong and positive impact across our host communities.”
“Newmont’s core values of safety, sustainability and responsibility are integral to creating long-term value for our investors, host governments and communities, and employees. During this challenging time, where many of our people are worried about their own jobs and livelihoods, we have seen a commitment from across our organization to join the fight in the communities where they live and work. While this pandemic is still evolving, we will continue to support our employees as best we can so that they in turn can continue to support their communities.”
“Our purpose to create value and improve lives through sustainable and responsible mining is more relevant now than ever before. The strength of our portfolio of world-class assets across top tier jurisdictions underpins the financial flexibility to take care of our employees, communities and shareholders. I am proud of the way our employees have responded to these challenging times. More information about Newmont’s COVID-19 response can be found here.”