https://www.miningweekly.com

Newmont executes $3bn sustainability-linked credit facility

31st March 2021

By: Creamer Media Reporter

     

Font size: - +

The world’s leading bullion miner, Newmont, on Tuesday announced a $3-billion sustainability-linked credit facility, which CEO Tom Palmer said demonstrated the group’s “unwavering commitment to industry-leading” environmental, social and governance (ESG) practices.

The credit facility includes a pricing feature based upon third-party sustainability performance measures and includes overall improved pricing from the previous facility.

This new credit facility expires in March 2026, amending and extending the credit facility executed in 2019.

“Our sustainability framework is at the core of what we do, and we believe that strong ESG performance is a key indicator of a well-managed business. By aligning our financial performance and our ESG performance, we are holding ourselves accountable to delivering on our purpose to create value and improve lives through responsible and sustainable mining,” said Palmer.

Newmont is one of the first in the mining industry to add a sustainability-linked pricing component to its revolving credit facility. Under the new facility, the company will incur positive or negative pricing adjustments on drawn balances based on certain sustainability performance criteria. Sustainability performance is measured through independent ratings published by MSCI and S&P Global, global leaders in ESG and corporate governance research and ratings.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION