Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company) announced that Rob Atkinson will succeed Tom Palmer as Executive Vice President and Chief Operating Officer, effective June 1, 2019. Tom Palmer, currently President and Chief Operating Officer, will remain President until he succeeds Gary Goldberg to become President and Chief Executive Officer. Newmont announced that Gary Goldberg will retire in the fourth quarter as part of a planned, orderly and long-term leadership succession.
Mr. Palmer will assume increasing responsibility for leading the safe and orderly integration of Newmont and Goldcorp as he transitions his duties as Chief Operating Officer to Mr. Atkinson.
“Over a 25-year mining career delivering step-change improvements in safety, productivity and sustainability, Rob will further enhance the depth and quality of Newmont’s team,” said Tom Palmer, President and Chief Operating Officer. “Rob brings a demonstrated commitment to building strong safety cultures and to leading, enabling and empowering teams to achieve meaningful business results. With Rob’s addition to the Newmont team, we will enhance the application of our proven Full Potential continuous improvement program and maximize long-term value creation following our combination with Goldcorp.”
Newmont remains focused on maintaining a deep leadership bench and top talent to effectively run the business and continue delivering the Company’s proven strategy.
In January 2019, Newmont and Goldcorp announced the two companies would combine their world-class portfolios of operations, projects, Reserves, exploration opportunities, and talent to create the world’s leading gold business. On day one after the transaction closes, which is expected in the second quarter, Newmont Goldcorp will:
- Be immediately value-accretive to the shareholders of both companies;
- Target 6-7 million ounces of steady-state gold production over a decades-long time horizon;
- Have the largest gold Reserves and Resources in the gold sector, including on a per share basis;
- Offer the highest dividend yield among senior gold producers;
- Be located in favorable mining jurisdictions and prolific gold districts on four continents; and
- Offer financial flexibility and an investment-grade balance sheet to advance the most promising projects.
About Rob Atkinson
With 25 years of mining industry experience, Rob Atkinson has held a variety of roles leading operations and business improvement efforts in Australia, the United Kingdom and the United States. Most recently, Mr. Atkinson served as Head of Productivity and Technical Support for Rio Tinto and was responsible for the company’s $5 billion productivity improvement strategy. Mr. Atkinson also served as Chief Operating Officer for Rio Tinto’s portfolio of copper interests in Mongolia, the US, Chile and Indonesia. Previously he led ASX-listed Energy Resources of Australia as Chief Executive and Director, and served as General Manager of Weipa Bauxite, one of the world’s largest bauxite operations. During his tenure with Rio Tinto, Mr. Atkinson oversaw the establishment of three technical centers of excellence, including Surface Mining, Underground Mining and Processing. Mr. Atkinson also has extensive operational experience in iron ore and surface and underground coal mining. He holds a 1st Class Honors Bachelor’s degree in Mining and Petroleum Engineering from Strathclyde University in Scotland.
About Tom Palmer
In October of 2018, Tom Palmer was promoted to serve as Newmont’s President and Chief Operating Officer. Since May of 2016, when Mr. Palmer was appointed Executive Vice President and Chief Operating Officer – with more than 85 percent of Newmont’s workforce reporting through to him – Newmont has generated more than $2 billion in free cash flow and commissioned two new mines and five expansions on four continents, on or ahead of schedule and within or below budget. Project optimization work under Mr. Palmer’s leadership has also positioned Newmont’s robust project pipeline as among the best in the gold sector through capital discipline and a focus on returns.
Prior to assuming leadership of Newmont’s operations and projects in 2016, Mr. Palmer led the Company’s business in the Asia Pacific region, which generated nearly 40 percent of Newmont’s revenues at the time. Before being recruited to join Newmont in 2014, Mr. Palmer served as Chief Operating Officer for Pilbara Mines at Rio Tinto Iron Ore.
Mr. Palmer’s 25-year career in mining includes leadership roles in Rio Tinto’s bauxite and aluminum, coal, copper, iron ore, and technology businesses where he gained extensive experience building and leading high-performing global teams to enhance safety, profitability, sustainability, and diversity and inclusion.
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, 2016, 2017 and 2018. 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.