Newmont Announces CEO Transition

DENVER, Dec. 3, 2012 /PRNewswire/ -- Newmont Mining Corporation (NYSE: NEM) ("Newmont" or the "Company) today announced that President and Chief Operating Officer Gary Goldberg will become President and Chief Executive Officer and join Newmont's Board of Directors on March 1, 2013.  He will succeed Richard O'Brien who will step down as CEO and retire from the Board at that time.   

Goldberg joined Newmont in December 2011 as Executive Vice President and Chief Operating Officer, with 30 years' experience in the mining industry. In July 2012 he was promoted to President and Chief Operating Officer.  Prior to joining Newmont, he spent 30 years at Rio Tinto plc in increasingly senior positions in its gold, copper, coal, and industrial minerals businesses, including serving as President and CEO of Rio Tinto Minerals from 2006 to 2011. 

Vincent A. Calarco, Chairman of the Board, said, "The Board is confident in Gary's abilities to lead Newmont forward as CEO, continue to sharpen our plan, drive consistent execution and deliver value for shareholders in the years ahead.  With three decades of experience in the mining industry, he has deep and proven operational expertise, strong strategic and analytical skills and outstanding leadership abilities." 

Calarco added, "On behalf of the Board, I thank Richard for his loyal service to Newmont and for his many contributions to the company over the last seven years, first as CFO and then as CEO.  Richard has built a solid operational foundation, a talented team and a strong balance sheet, all of which position Newmont well for the next stage of its growth and development."

O'Brien said, "It has been an honor to lead Newmont over the past five years and I am very proud of what we have accomplished as a team.  I believe Gary is an excellent choice to succeed me and will be a strong leader.  I have great confidence in his abilities and look forward to working with him in a smooth transition over the next three months."

In addition to his positions at Rio Tinto, Mr. Goldberg served as Chairman of the National Mining Association in the U.S. from 2008 to 2010 and formed and led its CEO Safety Task Force.  While serving as President and CEO of Borax, the company was twice named America's safest large mining operation by the federal Mine Safety & Health Administration and Borax was the first mining company to receive the California Governor's Environmental and Economic Leadership Award.  While serving as Managing Director of Coal & Allied Industries Limited, he was appointed to the Australian 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 Masters degree in Business Administration from the University of Utah.

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 execution and performance.  Such statements relating to future performance are subject to certain risks and other factors as disclosed in the Company's 2011 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.

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 more than 43,000 employees and contractors, with the majority working at core operations in the United States, Australia, Peru, Indonesia, New Zealand 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.

SOURCE Newmont Mining Corporation