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Essay / Newmont Mining's Rich Gold History - 1957
Newmont Mining is one of the world's largest gold producers, with a significant international presence. Newmont has a rich history, dating back to its founding in 1921, and has been publicly traded since 1925. During its early years, Newmont grew rapidly through acquisition and diversification, including several joint ventures with well-established companies. It now operates in eight countries on five continents: North America, South America, Asia, Australia and Africa (Newmont, 2011). These operations encompass a wide variety of governments, populations and cultures. In an ever-changing global business landscape, Newmont has faced, and will continue to face, numerous challenges related to global operations, including political, environmental, social and legal issues. To help identify and plan for future challenges, Newmont Mining conducted a SWOT study. analysis in 2008. A SWOT analysis is an internal analysis carried out to determine the company's strengths, weaknesses, opportunities and threats (Pearce & Robinson, 2011). The threats identified in the SWOT are: an increase in energy prices; extensive environmental regulations; weak prospects for Europe and the Australian metals and mining industry; and a possible reduction in interest in the Batu Hijau mine in Indonesia. One of the important international issues facing Newmont is growth. Even the best mine will not produce indefinitely and new sites must be developed to keep the company operating. Newmont expands its business and acquires new sites to operate through acquisitions. An acquisition is the partial or outright purchase of another existing business (Ahlstrom & Bruton, 2010). For example, Newmont acquired Miramar Mining C...... middle of paper ......st stake in Boddington, based in Vancouver, British Columbia. Engineering & Mining Journal (00958948), 207(2), 18. Retrieved from EBSCOhost. Griffin, G. (January 28, 2005). Newmont Mining joins the “zero tolerance” movement against corporate bribery. Denver Post, The (CO), from EBSCOhost. McGhee, T. (June 12, 2002). Newmont mining is likely to settle Peruvian villagers' dispute, experts say. Denver Post, The (CO), from EBSCOhost.Newmont Mining. (2011). Newmont Mining: Global presence. Retrieved from http://www.newmont.com/our-operationsO'Shaughnessy, H. (December 2006). Corporate Social Responsibility: Mining – locals rally for mining rights. Foreign direct investment, 1. Extracted from ABI/INFORM Global. (Document ID: 1186598581). Pearce II, JA and Robinson, RB (2011). Strategic management: Formulation, implementation and control. (12th ed.). New York: McGraw-Hill/Irwin.