public traded as nyse nem s & p 500 component industry metals and mining founded 1921 ; 95 years ago 1921 headquarters greenwood village colorado usa products gold copper and silver revenue 9.5 billion usd 2010 number of employees 34 000 including contractors 2011 . most are salaried . 3 500 industry professionals in nevada . website http www.newmont.com newmont mining corporation based in greenwood village colorado usa is a mining company founded in 1916 by william boyce thompson as a diversified holding company with active gold mines in nevada indonesia australia new zealand ghana and peru . holdings include santa fe gold battle mountain gold normandy mining franco nevada corp and fronteer gold . newmont also has many joint venture relationships . as of the third quarter of 2014 newmont was the world s second largest producer of gold behind barrick gold . 3 in 2010 newmont produced approximately 5.4 million equity ounces of gold annually and held proven and probable reserves of about 93.5 million . newmont employs approximately 34 000 employees and contractors worldwide . other metals that the company mines include copper and silver . newmont is the only gold company in the standard & poor s 500 index . contents 1 history 1.1 early years 1.2 major growth 2 operations and major projects 2.1 nevada 2.2 colorado 2.3 yanacocha peru 2.4 australia 2.5 new zealand 2.6 batu hijau sumbawa indonesia 2.7 ghana 2.8 other operations 2.8.1 canada 2.8.2 mexico 3 former operations 4 controversies 4.1 nevada operations 4.1.1 state tax deductions 4.2 batu hijau mine indonesia 4.3 yanacocha mine peru 4.4 buyat bay sulawesi indonesia 4.5 akyem ghana 5 see also 6 references 7 further reading 8 external links history edit william boyce thompson founder of newmont mining early years edit newmont mining corporation was founded in 1916 in new york by colonel william boyce thompson as a holding company to invest in worldwide mineral oil and related companies . according to company lore the name newmont is a portmanteau new york and montana reflecting where thompson made his fortune and where he grew up . 4 in 1929 newmont became a mining company with its first gold product in by acquiring california s empire star mine . by 1939 newmont was operating 12 gold mines in north america . the company acquired interests overseas . for decades around the middle of the 20th century newmont had a controlling interest in the tsumeb mine in namibia and in the o okiep copper company in namaqualand south africa . beginning in 1925 newmont acquired interests in a texas oil field . eventually newmont s oil interests included more than 70 blocks in the louisiana gulf of mexico area and oil and gas production in the north sea . newmont discovered the world s first submicroscopic or invisible gold at carlin nevada in the early 1960s and began production on the first open pit gold mine in the world . the carlin trend or carlin unconformity is the largest gold discovery in north america during the 20th century . in 1971 newmont began using the heap leaching technology on sub mill grade ores there . in the 1980s newmont thwarted five takeover bids from consolidated gold fields consgold t. boone pickens minorco hanson industries and sir james goldsmith who sought to break newmont apart and sell its assets to increase shareholder value . major growth edit after 1987 the company undertook major restructuring . this included the payment of a us 33 per share dividend to all shareholders for a total of us 2.2 billion of which us 1.75 billion was borrowed . to reduce this debt the company undertook a divestment program involving all of its copper oil gas and coal interests . as a further step in the restructuring the company moved its headquarters from new york city to denver in 1988 . a decade later newmont mining corporation and newmont gold company combined assets to form a unified worldwide gold company . shareholders of both companies had identical interests in the reserves production and earnings of newmont gold s operations . newmont then merged with santa fe pacific gold corporation a former atchison topeka and santa fe railway subsidiary sold in preparation for the merger that produced the bnsf railway 5 to form north america s largest gold producer . on june 21 2000 newmont announced a merger with battle mountain gold company . the merger was completed in january 2001 . in february 2002 newmont completed the acquisition of normandy mining limited and franco nevada mining corporation limited . newmont faced competition in its bid for normandy from anglogold . by eventually outbiding the south african company newmont became the world s largest gold producer with an annual production in excess of 8 million ounces . 6 in 2007 the company eliminated its 1.5 million ounce legacy hedge book to make newmont the world s largest unhedged gold producer . the following year newmont acquired miramar mining corporation and its hope bay deposit in the canadian arctic . in late 2008 newmont moved its headquarters from denver to the suburb of greenwood village colorado . 7 in 2009 newmont purchased the remaining one third interest in boddington gold mine from anglogold ashanti bringing its ownership to 100 percent . in april 2011 the company acquired canada s fronteer gold inc. for cdn 2.3 billion . this made the company the world s second largest gold producer . 8 operations and major projects edit gold quarry mine near carlin nevada 2009 . nevada edit as of 2011 newmont s nevada 14 open pit and four underground operations include carlin located west of the city of elko on the geologic feature known as the carlin trend ; the phoenix gold copper mine located 10 miles south of battle mountain the twin creeks mine located approximately 15 miles 24 km north of golconda ; and the midas mine near the town of the same name . it also participates in the turquoise ridge joint venture with a subsidiary of barrick gold corporation which utilizes mill capacity at twin creeks . with the acquisition of fronteer gold over sixty additional projects were added to the newmont portfolio . the flagship property long canyon is located on a gold trend that is similar to the carlin trend in terms of its characteristics and potential . colorado edit in august 2015 newmont purchased the cripple creek & victor gold mine from anglogold ashanti . the mine is the largest gold and silver producer in the state of colorado . 9 yanacocha peru edit the properties of minera yanacocha s.r.l. yanacocha are located approximately 375 miles 604 kilometers north of lima and 30 miles 48 kilometers north of cajamarca in peru . yanacocha began production in 1993 . newmont holds a 51.35 % interest in yanacocha with the remaining interest held by compa ia de minas buenaventura s.a. 43.65 % and the international finance corporation 5 % . yanacocha s mining rights consist of concessions granted by the peruvian government to yanacocha and a related entity . yanacocha currently has three active open pit mines cerro yanacocha la quinua and chaquicocha . in addition reclamation and or backfilling activities at carachugo san jose and maqui maqui are currently underway . yanacocha s gold production for 2010 was 1.5 million ounces 750 000 attributable ounces . as of december 31 2010 newmont reported 5.0 million ounces of gold reserves . in 2011 newmont s board of directors granted approval to develop the conga project located in the provinces of celend n and sorochuco huasm n districts and cajamarca district of enca ada . newmont s ownership interest is identical to yanacocha . if all permits are secured the commencement of production is expected in late 2014 or early 2015 . 10 in 2015 agents acting on behalf of newmont mining corporation attacked and beat a woman who refused to move from her home to allow for the development of a mine . indigenous peruvian farmworker maxima acu a de chaupe withstood violent eviction attempts beatings and a legal battle to protect her land from being turned into an open pit gold mine 11 police officials of mining company destroy home of m xima acu a chaupe february 4 2015 by hillary ojeda the cajamarca home was destroyed by officials of the special operations division dinoes . 12 150 000 stand with peruvian woman in fight against world s largest gold mine erik hoffner april 23 2015 10 42 am 13 peruvian farmer harassed after lawsuit win against newmont by shreema mehta february 4 2015 14 australia edit newmont acquired its australian assets with the acquisition of normandy mining in 2002 . 15 16 boddington . newmont s newest australian asset is boddington which is now australia s largest gold producer . it has been wholly owned since june 2009 when newmont acquired the final 33.33 % interest from anglogold ashanti australia limited anglogold . boddington poured its first gold in september 2009 and commenced commercial production in november 2009 . boddington produced 728 000 ounces of gold and 58 million pounds of copper in 2010 . as of year end 2010 it reported 20.3 million ounces of gold reserves and 2 360 million pounds of copper reserves . tanami . the tanami operations 100 % owned include the granites treatment plant and associated mining operations which are located in the northern territory approximately 342 miles 550 kilometers northwest of alice springs adjacent to the tanami highway and the dead bullock soak mining operations approximately 25 miles 40 kilometers west of the granites . the tanami operations have been wholly owned since april 2003 when newmont acquired the minority interests . operations today are predominantly focused on the callie underground mine at dead bullock soak and ore is processed through the granites treatment plant . during 2010 the tanami operations produced 250 000 ounces of gold . as of december 31 2010 it had a reported 2.0 million ounces of gold reserves . kalgoorlie . the kalgoorlie operations comprise the fimiston open pit commonly referred to as the super pit and mt. charlotte underground mine at kalgoorlie boulder 373 miles 600 kilometers east of perth . the mines are managed by kalgoorlie consolidated gold mines pty ltd for the joint venture owners newmont and barrick each of which holds a 50 % interest . the super pit gold mine in 2010 the kalgoorlie operations produced 754 000 ounces of gold 377 000 attributable ounces . it reported 3.8 million ounces of gold reserves on december 31 2010 . new zealand edit newmont acquired its waihi assets as part of the acquisition of normandy mining in 2002 . the waihi operation produced 108 000 ounces of gold in 2010 and reported 0.5 million ounces of gold reserves at the end of the year . martha . the martha mine operations 100 % owned are located within the town of waihi located approximately 68 miles 110 kilometers southeast of auckland new zealand . the open pit mine has operated over historic underground gold mine workings since 1988 . favona . the favona underground mine began extracting ore at the end of 2006 . batu hijau sumbawa indonesia edit haul trucks at the batu hijau open pit 2009 newmont operates the batu hijau mine on the island of sumbawa in the indonesia in the province of west nusa tenggara through its subsidiary company p.t. newmont nusa tenggara which is a joint venture between newmont sumitomo corporation and p.t. pukuafu indah . batu hijau is a large porphyry copper gold deposit which newmont discovered in 1990 . development and construction activities began in 1997 and start up occurred in late 1999 . in 2010 batu hijau produced 542 million pounds of copper 269 million attributable pounds and 737 000 ounces of gold 364 000 attributable ounces . on december 31 2010 it reported 3 760 million