Jun 3, 2021

Mining Profile: Tom Palmer, CEO, Newmont

TomPalmer
Newmont
Copper
Operations
3 min
Tom Palmer joined the Board of Directors of Newmont, and was appointed CEO of the world’s leading gold company, in October 2019

Tom Palmer spent over seven years with Newmont in a variety of roles before joining the Board of Directors when he was appointed CEO in October 2019.

Tom Palmer, CEO, Newmont

Tom Palmer has three decades of experience in the mining industry. After graduating with a Bachelor of Science degree in Mechanical Engineering from Monash University, where he later completed his Masters, Palmer began his career in the resources industry working for Rio Tinto as a Specialist Project Engineer. Going on to take up Operations and General Manager roles working across Rio’s coal, copper and aluminium operations in Australia and South Africa, Palmer left the company in 2013 after spending three years as COO of Rio’s iron ore operations in the Pilbara in Western Australia.

Palmer joined Newmont as Senior Vice President for Indonesia (based in Jakarta) before returning to Australia as SVP for the company’s Asia Pacific operations. He went on to spend three years in Colorado as Executive Vice President and Chief Operating Officer before accepting the call to succeed Gary Goldberg to become Newmont’s tenth CEO.

Tom Palmer

Newmont

Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. A world-class portfolio of assets, prospects and talent is anchored in favourable mining jurisdictions in North America, South America, Australia and Africa

Following international expansion and series of transformational mergers and acquisitions, today, Newmont is the world’s leading gold mining company with 12 operating mines and two joint ventures, all in top-tier jurisdictions.

100 years of mining history

“It’s an honour to lead Newmont Corporation at such a pivotal time in our history. This milestone offers us a clear moment in time to celebrate our achievements and reflect as we move into the next 100 years of mining,” commented Palmer when marking the company’s centenary earlier this year.

Palmer’s extensive experience leading teams and delivering production while implementing safety culture programs and improving diversity sees him well placed to start the company’s journey towards the next centennial milestone.

“Throughout our history, Newmont has been a catalyst for change. With a vibrant history, we have transformed; embracing new jurisdictions and innovative technologies. None of this would have been possible without our people, who have consistently risen to the challenge. I am excited about the strength and stability of our portfolio, the capabilities of our workforce and the opportunities we have in front of us.”

Copper

Palmer’s leadership has seen Newmont targeting several copper ‘mega projects’in line with demand for the red metal supporting the clean energy transition and the electric vehicles revolution.

“I’m pretty excited about having good exposure to copper at that time when the world is going through the energy transition,” Palmer said in an interview with Bloomberg TV. “Copper’s got a pretty good story in front of it. I think its day in the sun is more towards the end of this decade.”

 

 

 

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Jun 17, 2021

People Moves: Peter Cunningham appointed Rio Tinto CFO

Rio Tinto
Peter Cunningham
financial planning
Renewable Energy
2 min
Rio Tinto has appointed Peter Cunningham its Chief Financial Officer and he will also join the Board as an executive director

Rio Tinto has appointed Peter Cunningham as Chief Financial Officer (CFO) with immediate effect. Peter, who has been Interim Chief Financial Officer since 1 January 2021, will also join the Rio Tinto Board as an executive director at the same time.

Peter Cunningham appointed Rio Tinto CFO

Peter Cunningham was previously Group Controller and has held a number of senior financial and non-financial leadership positions across Rio Tinto in Australia and the UK. In a career spanning 28 years with Rio Tinto, he has held roles including Global Head of Health, Safety, Environment & Communities; Head of Energy and Climate Strategy; and Head of Investor Relations.

Prior to joining Rio Tinto, Peter qualified as a chartered accountant.

Rio Tinto CEO Jakob Stausholm commented: “I am delighted to confirm Peter in the role and, having worked closely with him for a number of years, I know he is the ideal person to be our Chief Financial Officer. His detailed knowledge of the company and of the financial and non-financial drivers of our industry will be invaluable as we continue to strengthen Rio Tinto.”

Rio Tinto Chairman Simon Thompson added: "I look forward to Peter joining the Rio Tinto Board and know from experience that his deep understanding of Rio Tinto and commitment to disciplined capital allocation will serve shareholders well and enrich our Board discussions.”

Rio Tinto aiming for net zero by 2050

Rio Tinto is aiming to reach net zero emissions across its operations by 2050. Across the company, it is targeting a 15% reduction in absolute emissions and a 30% reduction in emissions intensity by 2030, from a 2018 baseline.

Aluminium is found in everything from cars to phones. But one of the challenges of producing this essential material responsibly is finding ways to decarbonise the process.

Part of the reason is creating alumina – the main ingredient in aluminium – takes a lot of energy, which in turn creates greenhouse gas emissions. New technologies will be essential to helping reduce emissions, but many haven’t been proven. And some not yet even discovered. Rio Tinto is partnering with the Australian Renewable Energy Agency (ARENA)to develop hydrogen energy options and make a positive step towards these goals.

Rio Tinto Weipa

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