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TheStreet Open House

Mining Veteran Gary Goldberg Named Chief Executive Officer Of Newmont

Stocks in this article: NEM

DENVER, March 1, 2013 /PRNewswire/ -- Newmont Mining Corporation (NYSE: NEM) ("Newmont" or the "Company") today announced that President and Chief Operating Officer Gary Goldberg has been named President and Chief Executive Officer and joined Newmont's Board of Directors, pursuant to a succession plan announced on December 3, 2012. 

Vincent A. Calarco, Non-Executive Chairman of the Board, said, "We congratulate Gary Goldberg on his appointment and welcome him to the Board. We are confident that Newmont is well positioned for the next stage of its growth and development and that Gary's deep and broad skill set and experience make him the right leader to take the Company forward." 

Calarco added, "We thank Richard O'Brien for his loyal service to Newmont and for his many contributions to the Company's success over the past seven years, and wish him well for the future."  

Goldberg said, "I am honored to lead Newmont as we focus on strengthening our fundamentals as a mining company and delivering greater value to shareholders. My immediate priorities are to drive a more disciplined approach to capital allocation and to set and meet aggressive cost targets.  My overall goal is to build on our superior asset base – including our portfolio, position and people – while attaining industry- leading practices in the areas of safety and social and environmental responsibility." 

Prior to joining Newmont in December 2011, Goldberg spent 30 years at Rio Tinto based in the US, UK and Australia and served in increasingly senior positions in its gold, copper, coal, and industrial minerals businesses. He was President and CEO of Rio Tinto Minerals from 2006 to 2011; President and CEO of Rio Tinto Borax from 2004 to 2006; Managing Director of Coal and Allied Industries Ltd from 2001 to 2004; and President and CEO of Kennecott Energy from 1999 to 2001.

Goldberg also served as Chairman of the US National Mining Association from 2008 to 2010 and formed and led its CEO's Safety Task Force. Under his leadership at Rio Tinto Borax, the company was twice named America's safest large mining operation by the federal Mine Safety and Health Administration and was the first mining company to receive the California Governor's Environmental and Economic Leadership Award. In Australia, he was appointed to the government's Business Roundtable on Sustainable Development. He holds a Bachelor of Science degree in Mining Engineering from the University of Wisconsin-Platteville and a Master of Business Administration degree from the University of Utah.

About Newmont 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 40,000 employees and contractors, with the majority working at core operations in the United States, Australia, Peru, Indonesia 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.

Cautionary Statement 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 statements relating to the Company's future growth, asset development, cost savings, capital allocation, execution and performance. Such statements relating to future performance are subject to certain risks and other factors as disclosed in the Company's 2012 Annual Report on Form 10-K filed with the Securities and Exchange Commission under the heading "Risk Factors." As such, investors are cautioned not to place undue reliance on forward-looking statements.

SOURCE Newmont Mining Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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