Investing in our Community
Newmont Waihi Gold has operated a community investment programme for many years to provide support for a range of local groups and projects in the Waihi region.
The community investment policy aims to assist as wide a range of groups as possible so that maximum benefit can be gained for the greatest number of people. The company operates three tiers of community support:
- Projects that NWG is obligated to deliver due to regulation. These are rehabilitation and decommission projects that are planned with community involvement to meet community aspirations for eventual closure.
- Projects that are identified via the WCV 20/20 Vision and that meet the aims of NWG for leaving a sustainable legacy. These will focus on projects that will reduce the effect of mine closure and support capacity building and partnership.
- Community donations and sponsorship.
The focus of this Update is on the community donations and sponsorship tier.
Community donations and sponsorship
In order to best respond to community needs and aspirations and to fairly allocate budgeted resources there are set procedures and guidelines to follow, while we also aim to be flexible and adaptable.
How to apply for funding
Applicants are asked to write a brief letter. Include in the letter:
- An outline of the project for which funding is required
- The $ amount or a description of the in-kind support being sought
- Who will benefit, how many will benefit, how they will benefit
- Bank details on letterhead or a bank deposit slip
- GST registration number if applicable
- If applicant is registered with the Charities Commission this should be stated
Allocating the Funds
The community investment team meets once a month usually in the first half of the month - to consider the written requests that have been received since the last meeting. The team works within a budget and when considering the allocation of funds the following guidelines are used:
- The recipient's project principles must be consistent with Newmont values
- Support is primarily for community activities that take place within Waihi
- Projects should demonstrate sustainable benefit
- Projects with the potential to enhance suitable educational services or opportunities have preference
- Recipients should have demonstrated an ability to help themselves
- Provision is made to assist individuals or groups who represent their community or region at recognised national or international events or competitions
After the funding allocation meeting each applicant is informed of the outcome of the request. Successful applicants for financial assistance are required to provide bank details to enable NWG to deposit funds directly into the recipient's bank account. To process each request the company also needs to know whether the recipient is seeking a donation or a sponsorship, whether the recipient is registered with the Charities Commission (see below) and whether the recipient is GST-registered.
When all this information is collated the community investment team can initiate procedures to requisition payments or arrange in-kind support. Reply letters are mailed out and a feedback form and self addressed envelope are enclosed so recipients have the opportunity to rate NWG's performance, make any comments and consider ways they might acknowledge the assistance.
Acknowledging the Support
If NWG's assistance is classified as a sponsorship arrangement, appropriate public acknowledgment in return for this support is required.
The company has promotional flags and banners. Recipients can collect these to display at the venue of the event or project for which assistance was provided.
The Newmont logo can be supplied for inclusion in programmes, advertising or other written material. Other means of acknowledgement may be suggested.
Eastern Layback
Since mid 2007 investigations have been undertaken to assess the feasibility of laying back the eastern wall of the Martha Mine open pit.
In Update November 11 2008 information focused on the progress of the east layback proposal. At that time we explained that a draft business case for the east layback proposal had been established and that the proposal was in Stage 3 of 4 of the Stage Gate process. Progress through Gate 3 focuses on confirming internal corporate approval and funding and external approval of the project.
(See Update October 29 2008 for an explanation of the Stage Gate Process).
In line with our commitment to communicate the status of ongoing activities and progress on proposals we confirm that the east layback proposal remains at Stage 3. We expect to receive a corporate decision by 2nd quarter 2009.
If it goes ahead, the east layback will be similar to the current South Wall Stability Cutback (SSC). It will extend the mine's life by approximately 18 - 24 months. This would mean that closure of the open pit would move from mid 2010 to mid 2012 as outlined in the Operating Scenarios developed and communicated over recent months (and available in the community section).
The scope of the proposed east layback project means that operations would remain within the existing Grey Street noise bund and surface areas. Operations would appear no different or with very little difference. Effects are likely to be similar and not exceeding those from the existing open pit mine.
