Newmont Mining is one of the largest producers of gold in the world, with a significant international presence. Newmont has a rich history, dating to its founding in 1921, and has been publicly traded since 1925. In its early years Newmont rapidly grew through acquisition and diversification, including several joint ventures with well-established companies. It now operates in eight countries on five continents: North America, South America, Asia, Australia, and Africa (Newmont, 2011). These operations encompass a wide variety of governments, populations, and cultures. In the ever-changing global business landscape, Newmont has faced, and will continue to face, many challenges related to global operations including political, environmental, social, and legal issues. To help identify and plan for future challenges, Newmont Mining conducted a SWOT analysis in 2008. A SWOT analysis is an internal analysis performed to determine the company’s strengths, weaknesses, opportunities, and threats (Pearce & Robinson, 2011). The threats identified in the SWOT are: an increase in energy prices; extensive environmental regulations; weak outlook for Europe and Australian metal and mining industry; and possible reduction in the interest in the Batu Hijau Mine in Indonesia. One significant international issue faced by Newmont is that of growth. Even the best of mines will not produce indefinitely, and new sites must be developed to keep the company going. One way Newmont grows its business and acquires new sites to mine is through acquisitions. An acquisition is the partial or outright purchasing of another existing business (Ahlstrom & Bruton, 2010). For example, Newmont acquired Vancouver, British Columbia-based Miramar Mining C... ... middle of paper ... ...st's Boddington interest. Engineering & Mining Journal (00958948), 207(2), 18. Retrieved from EBSCOhost. Griffin, G. (January 28, 2005). Newmont mining joins 'zero tolerance' movement against corporate bribes. Denver Post, The (CO), Retrieved from EBSCOhost. McGhee, T. (June 12, 2002). Newmont mining likely to settle Peruvian villagers' suit, experts say. Denver Post, The (CO), Retrieved from EBSCOhost. Newmont Mining. (2011). Newmont mining: Global presence. Retrieved from http://www.newmont.com/our-operations O'Shaughnessy, H. (December 2006). Corporate social responsibility: mining - locals dig in over mineral rights. Foreign Direct Investment, 1. Retrieved from ABI/INFORM Global. (Document ID: 1186598581). Pearce II, J. A., & Robinson, R. B. (2011). Strategic management: Formulation, implementation, and control. (12th ed.). New York: McGraw-Hill/Irwin.
These two passages “There’s Still Gold in These Hills” and “Letter From a Gold Miner” help the reader understand the history and process of gold mining in the US. Both passages give detailed information, specific instructions, and an interesting background about gold mining. These passages use different strategies to help the reader perceive the history and process. These strategies may include using specific dates of when the gold rush took place, information to help the reader picture the setting of where to find gold, and also teaches the process step by step.
The tar creek mining site originally was owned by a Native American tribe, the Quapaw. The Quapaw wanted to keep these lands, but the Bureau of Indian Affairs deemed members opposing a transaction to mining companies “incompetent” (1). In such a case the business could continue and the Bureau of Indian Affairs sold the lands to mining companies. In essence these lands were stolen from the Quapaw because they were ripe for mining. These mines were then used from approximately 1891 to 1970. In the 79 years the mines were open 1.7 million metric tons (~3.75 billion pounds) of lead and 8.8 million metric tons (~19.4 billion pounds) of zinc were withdrawn from the mine (2). The entire area around Tar Creek is known as the tri-state mining area. This tri-state area was a massive source of metals. This area accounted for 35% of the all worldwide metal for a decade. It also provided the majority of metals the United States used in World wars I and II (3).
The creation of societies in the West resulted in the blossoming of three new industries: mining, ranching, and farming. Mining began at large with the discovery of gold in California in 1849 and continued with other discoveries and “rushes” later on; these rus...
Willis, A. and Smith, M. (2013, July 24). Retrieved March 16, 2014, from Bloomberg: http://www.bloomberg.com/news/2013-07-24/colombia-illegal-gold-mines-prosper-in-global-rout.html
The fortune of silver and gold discovered in Colorado’s mountains were locked inside complex ores consisting of granite, quartz and other metals that rendered them useless, unless they could be separated (Egan. NPS). Miners originally imported stamp mills and Spanish arrastras to extract the gold and silver but both these methods were inefficient and lost upwards of 70 percent of the sought after mineral (NPS). In 1867, chemistry professor Nathanial P. Hill discovered an efficient method called the Swansea process to separate the precious metals and opened the Boston Colorado Smelter in Blackhawk (NPS).
Rawls, James J. and Orsi, Richard J. (eds.) (1999). A Golden State: mining and economic development in Gold Rush California (California History Sesquicentennial Series, 2). Berkeley and Los Angeles: University of California Press. p. 187.
The excitement for mining and excavating for minerals was sparked in prospectors and people looking for an easy way of profit in the 60’s.This second gold rush of speaks, despite most of the minerals they were after was more on the lines of copper, nickel, iron and the like, brought high hopes of those wanting to get rich fast. Though thousands had hope in making money from mining on their own, many excavators found little gold on their own efforts. Most needed to actually find work in mines. But, they almost got something even better. The v...
For this reason, ExxonMobil should monitor the changes in prices and the markets for its products to prevent loss of profits. Moreover, the demand for petrochemicals and energy has increased due to the expanding economies. It is critical for the institution to research and analyze the relevant opportunities which can enhance the improvement of business in different regions. On the other hand, the company is under obligations to meet its social responsibility of promoting climatic conservation mechanisms and manufacture environmentally friendly products. To achieve sustainability, it is critical to adhere to all the regulations set for the purpose of avoiding costly penalties and legal cases. Accordingly, an extensive study of all the external and internal factors influencing its performance is imperative to identify issues, strengths, weaknesses and opportunities. The management should ensure that all the legal uncertainties are eradicated to steer growth and expansion of the business. Besides, litigation and control of all the risks involved should remain an approach to achieve sustainability and increase the market opportunities
Smith-Baranzini, Marlene, Richard J. Orsi, and James J. Rawls. A Golden State: Mining And Economic Development In Gold Rush California. Berkeley, California: University of California Press, 1999. eBook (EBSCOhost). Web. 26 Mar. 2014.
Peter Munk, the founder of American Barrick had after experience and past failures come to the belief that high liquidity and low leverage were key tenets in a successful business. The increased flexibility obtained by following these guidelines should provide the company with opportunities that less hedged companies did not have. If gold prices were to fall then the company would not be affected by the distress costs that other competing companies would experience, giving the company an edge during times of low prices. During this time they would have additional cash reserves available to invest while other companies might be struggling to gain expensive debt financing. This is one of the major competitive advantages a gold company can have because the major costs in this industry is exploration and acquisition costs. Because of their strong financials and stability the company was also more likely to enter into more favorable contracts. The risk management program was meant to provide in...
Many people in society today take for granted all the things they have been constantly consuming for generations. They all see the final product, but hardly ever notice what goes on into making it and where it goes when they’re done using it. In this report, the diamond commodity chain is followed from beginning to end and an explanation of some of the issues faced by the people associated with this product at each state of the commodity chain will also be addressed. Moreover, this report analyzes the working conditions and practices of diamond miners. Many workers, children, and communities are exploited in the industry of diamond mining. The health and well being of these people are constantly at risk and an effort to address this significant issue needs our immediate attention. Luxury commodities come with a cost. Some cost are higher than others. In a world where the rich and poor are countless, and the middle class are few, labor practices in less fortunate countries should be questioned.
Hill, C. W. L & Jones, G. R. (1998). Strategic Management Theory (4th edition). Boston New York: Houghton Mifflin Company
Colorado also has a rich mining history which began in about 1859 with the discovery of gold and development of new reserves, Colorado’s present day industry is a modern, innovative, safe and environmentally responsible citizen that extracts a wide variety of minerals such as; gold, Marble, and gypsum from the earth, valued at more than $2 billion each year. (Colorado Mining Association, 2007)
This company has come a long way into the sustainable and triple bottom line world. “Four wind turbines were erected in 2013 to reduce the use of diesel fuel, which had to be trucked in on a 550-km ice road at a cost of $70 million a year” (Hamilton, 2016). Wind turbines are put into place to create electricity through the spinning of the propellers. Mines are underground therefore it is extremely crucial to have electricity through renewable energy to create light for the miners underground because of the darkness being created. More importantly, if every corporation were to include the triple bottom line in their business goals, it would aid with climate change and global
Mining is the process or industry of obtaining minerals from the earth. Topics in this paper I’ll be specifically discussing are pros and cons of mining, structures of a mine, mining in general, California gold rush, diamonds in Africa, and comparison of diamond and gold mines.