Newmont Mining Promotes Tom Palmer to President and Chief Operating Officer
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Newmont Mining Corporation has promoted Tom Palmer to president and chief operating officer, in recognition of his strong performance and expanded organizational responsibilities in the execution of the company’s strategy.
“Tom has effectively led his team to deliver superior operational performance as his responsibilities have expanded. He has skillfully executed the strategy we established over five years ago and we continue generating strong returns and building a robust project pipeline to bring forward the next generation of profitable Newmont mines,” said Gary Goldberg, chief executive officer.
“I recommended to our board of directors that Tom be promoted to president based on his performance, years of experience and as the next logical step in his development,” added Goldberg.
Since May of 2016, when Palmer was appointed executive vice president and chief operating officer, Newmont has generated more than $2 billion in free cash flow1 and commissioned two new mines and four expansions, ahead of schedule and within or below budget. Project optimization work under Tom’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 his appointment as executive vice president and chief operating officer in 2016, Palmer led Newmont’s business in the Asia Pacific region, which generated nearly 40 percent of the company’s revenues at the time. His 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 leading global teams, and improving safety, profitability, sustainability, and diversity and inclusion.
About Newmont
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.
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