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Newmont Publishes Inaugural Taxes and Royalties Contribution Report
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Rhea-AI Summary
Newmont Corporation (NYSE: NEM) has released its inaugural Taxes and Royalties Contribution Report, aimed at enhancing transparency regarding its contributions to host communities and governments. In 2021, the company made direct economic contributions totaling $10.8 billion, which included $1.9 billion in taxes and royalties. Newmont's President and CEO, Tom Palmer, emphasized the importance of transparency in building trust with stakeholders.
Positive
Direct economic contributions totaled $10.8 billion in 2021.
$1.9 billion in taxes, royalties, and disbursements to governments indicates strong fiscal responsibility.
The report enhances transparency and builds credibility with stakeholders.
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None.
DENVER--(BUSINESS WIRE)--
Today, Newmont Corporation (NYSE: NEM, TSX: NGT) published its inaugural Taxes and Royalties Contribution Report (the report), continuing the Company’s commitment to transparency by detailing the significant contributions made to host communities and governments.
In addition to detailing the contributions to host communities and governments, with this report Newmont also seeks to transparently disclose its tax governance, strategy and planning methodology in one central document.
“We believe that transparency is a prerequisite for building credibility and trust with stakeholders,” said Newmont’s President and CEO Tom Palmer. “We recognize that we have a responsibility to generate shared value from the minerals we extract by contributing our due part through taxes and royalties, job creation and economic development within host communities and countries in which we do business.”
Newmont aims to deliver shared value for the Company, our shareholders, as well as our employees, host communities and countries through our operations and activities including our tax and royalty payments. In 2021, Newmont’s direct economic contributions across our operations totaled $10.8 billion and included:
$3.6 billion in operating costs,
$1.3 billion in employee wages and benefits,
$1.4 billion in capital spend,
$2.6 billion in payments to providers of capital,
$1.9 billion in taxes, royalties and other disbursements to governments, and
About Newmont Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont’s sustainability strategy and initiatives, go to www.newmont.com.
