Newmont Wins Dow Jones Sustainability World Award Again

Newmont Mining Corporation has been selected for Dow Jones Sustainability World Index (DJSI) for the third consecutive year.

The DJSI independently evaluates companies on a variety of criteria, including environmental management and performance, community relations, transparency and publicly identifies the top 10 percent performers in areas of sustainability among 2,500 companies worldwide from 58 different industry groups.

A press release issued by the company in Accra recalled that Newmont became the first gold company to be selected for the DJSI.

"Our commitment to ensuring that our host communities continue to have sustainable livelihood has been recently recognized by the Minerals Commission of Ghana, whose top executives endorsed Newmont as setting the pace in community and social responsibility programmes" it stated.

Newmont Ghana claims that its effective social interventions such as the Ahafo Linkages Programme, through which it awarded contracts valued more than $10 million to 125 local Ahafo enterprises as of mid 2009, and others have contributed to its third recognition as a sustainable and responsible business entity.

The company stated that it continues to live one of its core values of leadership in safety, stewardship of the environment and social responsibility through participatory establishment of the Newmont Ahafo Development Foundation.

"Newmont makes available $1 per ounce of gold mined, plus 1% of net profit to the foundation for community development projects.

As of the 2nd Quarter 2009, Newmont Ghana had contributed over US$2.4 million to the Foundation. Decisions on the use of allocated funds from the Foundation for community development are taken by the Ahafo Social Responsibility Forum - made up of elected community representatives and including chiefs and other traditional authorities plus local government representatives".

Newmont added the positive impact of these programmes has also been applauded by the Parliamentary Select Committee on Poverty Reduction during a recent visit to our Ahafo Mine, reported in the September 14, 2009 edition of the Daily Graphic under the headline "Parliamentary Committee commends Newmont."

It believes that its commitment to transparent and open communication is also evidenced by its direct participation and commitment to a number of international conventions including the Extractive Industries Transparency Initiative (EITI), Partnering Against Corruption Initiative (PACI), the Voluntary Principles on Security and Human Rights, the Global Compact, the Sullivan Principles and the International Council on Mining and Metals' Sustainable Development principles, among others, all of which guide its engagements with our stakeholders.

"As part of a global entity whose vision is to be the most valued and respected mining company through industry-leading performance, Newmont Ghana stays true to this vision and Newmont's inclusion in the DJSI for a third consecutive time urges us on to continuing achieving our commitments," the release added.

Related terms: business, community, dow jones, foundation, ghana, gold, government, human rights, local, metals, mining, net profit, poverty, security