“Alex’s quarter-century of experience delivering step-change improvements in mine safety, productivity, project execution, and sustainability will continue to benefit Newmont as we take our performance in Australia to the next level,” said Tom Palmer, Executive Vice President and Chief Operating Officer. “I look forward to Alex continuing to deliver our strategy to improve the underlying business, strengthen the portfolio and create value for shareholders and other stakeholders.”
Mr. Bates joined Newmont in 2015 to lead the Company’s Boddington operation which has made significant strides in improving safety, cost and production performance. Prior to joining Newmont he was the General Manager of Rio Tinto’s Brockman Iron Ore Region, accountable for three mining operations in the Pilbara region of Western Australia. Mr. Bates spent a significant part of his career with Rio Tinto in operational leadership roles at the Palabora Mining Company in South Africa, Energy Resources Australia in the Northern Territory, and Rio Tinto Alcan and Rio Tinto Iron Ore. In addition, he has held a variety of operating and technical roles covering asset management, copper smelting and refining, mine planning and project management.
Newmont operates three of Australia’s largest gold mines including Boddington, Kalgoorlie (KCGM) and Tanami which, together, produced 1.6 million attributable ounces of gold in 2016. The expansion of Tanami – expected to reach commercial production in mid-2017 – is advancing on schedule and is anticipated to add approximately 80,000 ounces of profitable gold production per year. It will also open access to two million ounces of profitable production while extending mine life by three years. At the end of 2016 Australia accounted for 30 percent of Newmont’s global gold Reserves.
Newmont is a leading gold and copper producer. The Company’s operations are primarily in the United States, Australia, Ghana, Peru and Suriname. Newmont is the only gold producer listed in the S&P 500 Index and was named the mining industry leader by the Dow Jones Sustainability World Index in 2015 and 2016. The Company is an industry leader in value creation, supported by its leading technical, environmental, social and safety performance. Newmont was founded in 1921 and has been publicly traded since 1925.
Cautionary Statement Regarding Forward-Looking Statements:
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Such forward-looking statements may include, without limitation, statements relating to future performance, such as future business and strategic improvements and benefits, future portfolio strength, future value creation, and Tanami expansion timing, including commercial production, mine life extension and production estimates. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed or implied by the “forward-looking statements.” For a discussion of such risks relating to our business and other factors, see the Company’s Form 10-K, filed on or about February 21, 2017, with the Securities and Exchange Commission under the headings “Risk Factors” and “Forward-Looking Statements.” The Company does not undertake any obligation to release publicly revisions to any “forward-looking statement,” including, without limitation, outlook to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued “forward-looking statement” constitutes a reaffirmation of that statement. Continued reliance on “forward-looking statements” is at investors’ own risk.