LEADERSHIP
COLORADO-BASED NEWMONT MINING Corporation has enjoyed over 90 years of history in the mining industry , becoming one of the world ’ s largest producers of gold in the process .
In this interview , Chief Executive Officer Gary J . Goldberg opens up about the current status of Newmont and where the company is headed . Goldberg also provides insight on recent acquisitions , leadership initiatives , future trends and what separates Newmont from other gold mining companies .
Q : Tell me the current status of Newmont and where the company is headed ? A : I ’ m proud to say that we ’ re executing our strategy to lead the gold sector in value creation . One of my first actions as CEO was to recalibrate our strategy to focus on value over volume . That strategy has three parts . The first is to improve the underlying business , and we ’ ve been successful in reducing total injury rates by 50 percent and costs by 20 percent over the last two years . The second is to strengthen the portfolio . We ’ ve generated $ 1.7 billion by divesting non-core assets , and are reinvesting in lower-cost , longerlife mines like Cripple Creek & Victor in Colorado , Merian in Suriname and Long Canyon in Nevada . The final part of our strategy is to create value for shareholders . We ’ ve reduced our net debt by 35 percent since 2012 , generated positive free cash flow for the last five quarters running , and maintained our dividend despite the lower gold price environment . In short , we ’ ve made great progress toward making Newmont a more profitable and reliable business , but we ’ re not resting on our laurels . Our goal is to build on that momentum to take our performance to the next level , and I believe we have the right people , discipline and strategy to do that .
8 October 2015