DENVER--(BUSINESS WIRE)--Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company) has appointed Nancy K. Buese to succeed Laurie Brlas as Executive Vice President and Chief Financial Officer (CFO) as part of a planned transition, effective October 31, 2016. Ms. Brlas will retire from her position with Newmont to focus on external Board work and to spend more time with her family. Ms. Brlas will remain with the Company through the end of the year to assure a smooth and orderly transition.
“Nancy is an accomplished finance leader with extensive experience in the natural resources sector – I’m delighted she will be joining Newmont’s executive team to continue delivering our strategy to lead the gold sector in value creation,” said Gary Goldberg, President and Chief Executive Officer. “Nancy’s track record of ensuring financial discipline, achieving solid business results, maintaining a strong balance sheet and building financial flexibility fits well with Newmont’s focus on delivering the next generation of safe, efficient and profitable gold mines. I also would like to take this opportunity to thank Laurie Brlas for her leadership and contributions to Newmont as our CFO, and for her continued service during this planned transition.”
Ms. Buese brings 25 years of experience in finance leadership roles and joins Newmont having most recently served as Executive Vice President and CFO for MPLX, a publicly traded energy company formed by Marathon Petroleum Corporation. Prior to MPLX’s acquisition of MarkWest Energy Partners in 2015, Ms. Buese served for 11 years as Executive Vice President and Chief Financial Officer of MarkWest. Having worked in public accounting for 12 years, Ms. Buese also is a former Partner with Ernst & Young. She earned her degree in Accounting and Business Administration from University of Kansas and is a Certified Public Accountant. Since 2009, Ms. Buese has served on the Board of Directors of UMB Financial Corporation, including as a member of the audit and risk committees.
In her role as CFO, Ms. Buese will be responsible for Newmont’s global finance, accounting, business planning, tax, treasury, investor relations and value assurance functions. Internal Audit will continue reporting directly to Bruce Brook, Chairman of the Audit Committee of Newmont’s Board of Directors, and report administratively to Nancy.
Since 2013, when Ms. Brlas joined Newmont as CFO, the Company has earned the gold sector’s best credit rating from Moody’s and lowered net debt by 56 percent1. Newmont also has generated $2.8 billion in fairly valued, non-core asset sales, including the pending sale of PTNNT in Indonesia, while self-funding new, profitable production. This includes Newmont’s newest gold mine at Merian in Suriname, as well as four self-funded growth projects including Long Canyon and expansions at Tanami and Carlin, and the recently completed expansion at Cripple Creek & Victor. Taken together, these projects are expected to add one million ounces of lower cost gold production over the next two years.
Newmont is a leading gold and copper producer. The Company’s operations are primarily in the United States, Australia, Ghana, Peru, Indonesia 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 and 2016. 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.
Cautionary Statement Regarding Forward Looking Statements:
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, without limitation, estimates of future production and growth, estimates of future debt reduction, and expectations regarding the completion of the sale of the Company’s interests in PTNNT, including the timing of closing, receipt of sale consideration and application of sale proceeds. Investors are cautioned that no assurances can be made with respect to the closing of the pending sale of the Company’s interest in PTNNT, which remains contingent on the satisfaction of conditions precedent, including, without limitation, maintenance of valid export license at closing, the concurrent closing of the PTMDB sale of its 24 percent stake to the buyer; and no occurrence of material adverse events that would substantially impact the future value of Batu Hijau. Potential additional risks include other political, regulatory or legal challenges and community and labor issues. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the “forward-looking statements”. For a more detailed discussion of other risks that may impact the Company’s future performance, see the Company’s 2015 Annual Report on Form 10-K, filed on February 17, 2016, with the Securities and Exchange Commission (SEC), Form 10-Q for the quarter ended September 30, 2016, filed with the SEC on October 26, 2016, and other SEC filings The Company does not undertake any obligation to release publicly revisions to any “forward-looking statement” to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued “forward-looking statement” constitutes a reaffirmation of that statement. Continued reliance on “forward-looking statements” is at investors' own risk.
1 Includes proceeds expected from the pending sale of the Company’s interests in PT Newmont Nusa Tenggara in Indonesia.