with the support of
Thursday, 5th May at 12.30 p.m.
Newmont Australian MD John Dow
When Newmont refers to itself as the world’s premier gold company read biggest. The daughter product of the massive fusion of Normandy, Franco Nevada and Newmont-of-old now has a market cap of US$11 billion and an annual product of 7.5 million ounces (if you can imagine what 200 tonnes of gold looks like!). The final act of this grand union took place on the 20th February 2002 and this month we welcome from Adelaide MD John Dow to paint for us a picture of Newmont Australia and the global entity as the dust settles. A New Zealander and a geologist, John will shortly reach his 25th year with Newmont. He earned his first corporate stripes at the New Celebration discovery and then by going to Indonesia as a lone hand in 1984 and, primarily through good exploration, building a division with the Batu Hijau and Minahasa mines and a workforce of 5000 people.
Since the merger, Newmont has been globalising its operations and, merging the cultures of three quite different organisations. It has been rationalising a swag of non-core assets to make sure size translates to beauty. In the first year US$400m was raised in asset sales including equities in Lihir, Aber Diamonds, Inco warrants and Echo Bay/TVXNA, which were merged into the new Kinross. Newmont is now organised into six regional operating units with the Australian Unit representing about 25% of Newmont’s global business. Loose ends remain smelting magnesium doesn’t do much for Newmont but it must foster its Australian Magnesium Corporation equity to realise the value in it. Perhaps most intriguing will be Newmont’s quest to maintain its 80-90 million ounce reserve base merge or discover? Hear it all first hand.
Julian Malnic RSVP Tuesday 3rd June 2003
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The Forum is held at the Tattersalls Club at 181 Elizabeth St, Sydney (adjoining the Sheraton on the Park). There has been a relaxation of dress rules at the Tattersalls Club and ties and jackets are no longer required but men must wear long trousers and a smart collared shirt.
Thank you for supporting your Sydney Mining Club and for your interest in the current affairs and issues that drive our industry.
Dear Sydney Mining Clubbers,
The excellent lunch at Tattersalls in 2003 is $40.00 per person with complimentary drinks on arrival. Wine for the table can be ordered and settled directly with Tattersalls staff. All students remain at $10 so you should remind your student friends of this (Student ID to be presented at door). I can assure you we are working hard to minimise the cost of your forum lunches.
At some time in the future we may move to a formal membership arrangement for the Sydney Mining Club so if you have any friends and colleagues to add to our ‘virtual membership list’ – that is our e-mail list – now is the time to ask them to send their name and e-mail address to Sharon.
Students $10, Concession Rate $30, Everyone else $40. Corporate Table bookings (10 people) $400.00 (incl GST) per table
Please note any bookings received after close of business on the Tuesday prior to the lunch will automatically be charged a late fee of $10 per person. .
The Sydney Mining Club
Fax bookings to 02 9416 2583
(Other inquires call 02 9416 0666 and ask for Sharon Johnson)
(PLEASE PRINT CLEARLY) (PLEASE PRINT CLEARLY)
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¨ Visa / ¨ Master Card / ¨ Amex / ¨ Diners Amount: ……………………
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AusIMM ABN 59 836 002 494
RSVP BY 5pm, Tuesday prior to Meeting
Note: late bookings $10 extra!!