Submitted by: Newmont Corporation
Posted: Jul 15, 2008 – 11:03 AM EST
Jul. 15 /CSRwire/ - DENVER,CO. - July 15, 2008 - Newmont Mining Corporation (NYSE: NEM) today announced its partnership with Wal-Mart Stores, Inc., the world's largest jewelry retailer, and Conservation International for the launch of the Love, Earth(R) jewelry line. Sold exclusively at Wal-Mart stores, Sam's Clubs and on Walmart.com, the new product line is the retailer's first completely traceable mine-to-market retail jewelry collection.
Newmont was selected to provide gold from its Nevada mines for Wal-Mart's jewelry traceability initiative based on the company's recognized environmental and social performance. In 2007, Newmont became the first and only gold company listed on the Dow Jones Sustainability Index-World.
"One of our core values is demonstrating leadership in safety, stewardship of the environment and social responsibility," said Richard O'Brien, Newmont's President and Chief Executive Officer. "We are proud to partner with Wal-Mart and Conservation International to offer consumers traceable jewelry products that are produced using high environmental, social and safety standards."
Love, Earth joins together producers and manufacturers in the jewelry supply chain to promote traceable and responsibly produced jewelry. The project is a first step toward creating and building a sustainable and transparent jewelry supply chain.
Mined and manufactured in conformance with Wal-Mart's responsible mining criteria and Ethical Sourcing standards, 100 percent of the gold and silver produced for the Love, Earth line is traceable online. The Ethical Standards program includes standards for suppliers in the areas of compensation, underage labor, environment, and health and safety. Members of Wal-Mart's Jewelry Sustainability Value Network, along with suppliers, mining companies, jewelry manufacturers, Wal-Mart's sustainability experts and NGO’s developed the criteria for responsible mining. The criteria can be found on www.loveearthinfo.com.
Founded in 1921 and publicly traded since 1925, Newmont is one of the largest gold companies in the world. Headquartered in Denver, Colorado, the company employs approximately 15,000 people, the majority of whom work at Newmont's core operations in the United States, Australia, Peru, Indonesia and Ghana. Newmont is the only gold company listed in the S&P 500 index and in the Dow Jones Sustainability Index-World. 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. Newmont's annual Corporate Social Responsibility report can be viewed at www.BeyondTheMine.com.
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