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Newmont’s Cadia operation in Orange, NSW has achieved The Copper Mark and The Molybdenum Mark following an independent assessment of responsible production practices. Cadia, Australia’s largest underground mine, is Newmont’s first site globally to receive these awards after meeting over 30 criteria in areas including environment, community, human rights, and governance. The mine is Australia’s second-largest copper producer and the only operating molybdenum producer in the country. The operation has a 15-year renewable Power Purchase Agreement with Tilt Renewables for 55% of wind farm output and invested nearly $6 million AUD in community projects during the 18 months to December 2023.
L’operazione Cadia di Newmont a Orange, NSW ha ottenuto The Copper Mark e The Molybdenum Mark a seguito di una valutazione indipendente delle pratiche di produzione responsabile. Cadia, la miniera sotterranea più grande dell’Australia, è il primo sito al mondo di Newmont a ricevere questi premi dopo aver soddisfatto oltre 30 criteri in aree quali ambiente, comunità, diritti umani e governance. La miniera è il secondo produttore di rame più grande d’Australia e l’unico produttore di molibdeno attivo nel paese. L’operazione ha un contratto di acquisto di energia rinnovabile di 15 anni con Tilt Renewables per il 55% della produzione dell’impianto e ha investito quasi $6 milioni AUD in progetti comunitari durante i 18 mesi fino a dicembre 2023.
La operación Cadia de Newmont en Orange, NSW, ha logrado The Copper Mark y The Molybdenum Mark tras una evaluación independiente de las prácticas de producción responsable. Cadia, la mina subterránea más grande de Australia, es el primer sitio de Newmont en todo el mundo en recibir estos premios, después de cumplir con más de 30 criterios en áreas que incluyen medio ambiente, comunidad, derechos humanos y gobernanza. La mina es el segundo productor de cobre más grande de Australia y el único productor de molibdeno en operación en el país. La operación tiene un Acuerdo de Compra de Energía Renovable de 15 años con Tilt Renewables por el 55% de la capacidad de un parque eólico y ha invertido casi $6 millones AUD en proyectos comunitarios durante los 18 meses hasta diciembre de 2023.
뉴몬트의 카디아 작업는 NSW 오렌지에서 책임 있는 생산 관행에 대한 독립 평가를 통해 구리 마크와 몰리브덴 마크를 달성했습니다. 카디아는 호주 최대의 지하 광산으로, 뉴몬트의 첫 번째 사이트로 이러한 상을 수상했으며, 환경, 공동체, 인권 및 거버넌스 등 30개 이상의 기준을 충족했습니다. 이 광산은 호주에서 두 번째로 큰 구리 생산자이자, 국내에서 유일하게 운영되는 몰리브덴 생산자입니다. 이 작업은 Tilt Renewables와 함께 55% 풍력 발전 출력에 대한 15년 갱신 가능한 전력 구매 계약을 체결하였으며, 2023년 12월까지의 18개월 동안 거의 600만 호주 달러를 커뮤니티 프로젝트에 투자했습니다.
L’opération Cadia de Newmont à Orange, NSW, a obtenu The Copper Mark et The Molybdenum Mark suite à une évaluation indépendante des pratiques de production responsables. Cadia, la plus grande mine souterraine d’Australie, est le premier site mondial de Newmont à recevoir ces récompenses après avoir satisfait à plus de 30 critères dans des domaines tels que l’environnement, la communauté, les droits de l’homme et la gouvernance. La mine est le deuxième producteur de cuivre d’Australie et le seul producteur de molybdène en activité dans le pays. L’opération a un contrat d’achat d’énergie renouvelable de 15 ans avec Tilt Renewables pour 55 % de la production de l’éolienne et a investi près de 6 millions AUD dans des projets communautaires au cours de 18 mois jusqu’en décembre 2023.
Newmonts Cadia-Betrieb in Orange, NSW, hat The Copper Mark und The Molybdenum Mark nach einer unabhängigen Bewertung verantwortungsvoller Produktionspraktiken erhalten. Cadia, die größte Untertagebau-Mine Australiens, ist der erste Standort von Newmont weltweit, der diese Auszeichnungen erhält, nachdem über 30 Kriterien in Bereichen wie Umwelt, Gemeinschaft, Menschenrechte und Governance erfüllt wurden. Die Mine ist der zweitgrößte Kupferproduzent Australiens und der einzige operierende Molybdänproduzent im Land. Der Betrieb hat einen 15-jährigen, erneuerbaren Stromabnahmevertrag mit Tilt Renewables für 55% der Stromerzeugung der Windfarm und investierte in den 18 Monaten bis Dezember 2023 fast 6 Millionen AUD in Gemeinschaftsprojekte.
Positive
- First Newmont site globally to receive The Copper Mark and Molybdenum Mark certification
- Second largest copper producer in Australia
- Only operating molybdenum producer in Australia
- 55% of power needs supplied through renewable energy PPA
- $6 million AUD investment in community projects over 18 months
Insights
The award of The Copper Mark and The Molybdenum Mark to Newmont’s Cadia operation represents a strategic positioning advantage but has minimal direct financial impact. While this certification validates Cadia’s sustainable practices and could potentially enhance access to ESG-focused investors, the immediate market implications are
The certification’s main value lies in securing future customer relationships and maintaining competitive advantage in an increasingly ESG-conscious market. With 35% of Australia’s copper now produced at Copper Mark certified sites, this positions Cadia well for premium pricing opportunities and preferred supplier status. The site’s renewable energy initiatives through the PPA with Tilt Renewables and $6 million AUD community investment demonstrate strong ESG commitment but are already known to the market.
Responsible mining practices recognized at Australia’s largest underground mine
ORANGE, Australia–(BUSINESS WIRE)– Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) today announces its Cadia operation in Orange, NSW (Australia) has achieved The Copper Mark and The Molybdenum Mark following an independent assessment, recognising responsible production practices at Australia’s largest underground mine.
Cadia operations, Orange, New South Wales, Australia. (Photo: Business Wire)
Cadia is Newmont’s first site globally to receive the award after successfully meeting more than 30 criteria needed in critical areas including environment, community, human rights and governance, amongst others.
Newmont’s Cadia mine is the nation’s second largest copper producer and the third site in Australia to receive The Copper Mark. Cadia is the only operating mine producing molybdenum in Australia and thus the only mine to receive The Molybdenum Mark, a critical mineral used in industry and defense.
Newmont Chief Safety and Sustainability Officer Suzy Retallack said, “Meeting growing global demand for copper brings an obligation to sustainability and responsible mining which prioritises environmental stewardship, social responsibility and economic development for the communities in which we operate.”
“We take great pride in being at the forefront of the copper industry with The Copper Mark, which highlights our dedication to responsible production and transparency,” she said.
“This means our global customers can now choose to source copper concentrate from an independently evaluated mine that meets the highest standards in environmental, social, and governance practices, responding to the increasing demand for sustainable supply chains.”
In 2020, Cadia entered into a 15-year renewable Power Purchase Agreement (PPA) with Tilt Renewables Limited to buy 55% of the wind farm’s output. Now fully operational, Rye Park is supplying approximately half of Cadia’s power needs.
“Cadia’s commitment to the community supported an investment of almost $6 million AUS in the 18 months to December 2023 to support community projects, education and infrastructure,” Retallack said.
The Copper Mark’s Executive Director Michèle Brülhart said, “Congratulations to the team of Cadia for being the third site in Australia to achieve The Copper Mark and the first site to get The Molybdenum Mark. With this, about 35% of Australia’s copper is produced at sites that have obtained The Copper Mark.”
The Copper Mark is the leading assurance framework to promote responsible, sustainable and ethical practices across the copper, molybdenum, nickel and zinc value chains.
Cadia is located approximately 16 miles (25 kilometres) south-southwest of Orange in Central West New South Wales (NSW) and 250 kilometres west of Sydney, and comprises the Cadia East underground mine, which is one of the largest gold and copper deposits in the world, and Ridgeway Underground Mine, currently in care and maintenance.
About Newmont
Newmont is the world’s leading gold company and a producer of copper, zinc, lead, and silver. The company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Australia, Africa, Latin America & Caribbean, North America, and Papua New Guinea. 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. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the company 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241027446724/en/
Media Contact
Rosalie Cobai
australiacommunications@newmont.com
Investor Contact – Asia Pacific
Natalie Worley
apac.investor.relations@newmont.com
Investor Contact – Global
Neil Backhouse
investor.relations@newmont.com
Source: Newmont Corporation
FAQ
What certifications did Newmont’s (NEM) Cadia mine receive in 2024?
Newmont’s Cadia mine received The Copper Mark and The Molybdenum Mark certifications, becoming the first Newmont site globally to achieve these recognitions for responsible production practices.
How much renewable energy does Newmont’s (NEM) Cadia mine use?
Cadia mine sources approximately 55% of its power needs from the Rye Park wind farm through a 15-year renewable Power Purchase Agreement with Tilt Renewables
What is Newmont’s (NEM) Cadia mine’s position in Australian copper production?
Cadia is Australia’s second-largest copper producer and represents about 35% of Australia’s copper production from Copper Mark certified sites.
How much did Newmont (NEM) Cadia invest in community projects?
Cadia invested almost $6 million AUD in community projects, education, and infrastructure during the 18 months to December 2023.
