Newmont Mining Corporation

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24 First Nations Launch $6.6M Skills and Training Fund with Support from Newmont and Orla Mining

First Nation Limited Partnership (FNLP), Newmont Corporation (NYSE: NEM), and Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) have jointly established a C$6.6 million Education, Training, and Skills Development Fund to support the long-term economic and cultural advancement of 24 First Nations in Northwestern Ontario.

The fund, contributed over a 10-year period, will be administered by Opiikapawiin Services LP (OSLP), a service organization wholly owned by the 24 participating First Nations. It will provide community members with enhanced access to education, vocational training, and skill-building opportunities aligned with both employment pathways and cultural preservation.

FNLP, formed in 2015, represents the collective interests of these 24 First Nations in Wataynikaneyap Power LP, in which they hold a combined 51% ownership stake, equally shared among the communities. FNLP retains the right to increase this ownership to 100% over time. The partnership’s broader mission includes connecting 17 remote First Nations communities to Ontario’s provincial power grid, replacing diesel-dependent energy systems with cleaner, more reliable power.

The fund will support a wide range of programs aimed at advancing education, career development, and cultural revitalization. These include career readiness initiatives, trades training, mentorship opportunities, land-based learning, literacy programs, STEM education, scholarships, and expanded access to digital tools and technology.

“This fund builds on a long-standing partnership that demonstrates what’s possible when we come together with a shared commitment to community success,” said Eliezar McKay, Chair of the First Nations Leadership Partnership (FNLP). “It ensures that our youth have the education, training, and knowledge they need to shape a bright and prosperous future for themselves and their communities.”

“We extend our deepest gratitude to Newmont Corporation and Orla Mining Ltd. for their generous contributions to this fund and for reinvesting in our communities,” McKay added. “Through this initiative, we’re creating lasting opportunities for future generations to thrive, honoring the vision of our Elders and ancestors while building a strong path forward.”

The initiative deepens the longstanding relationship between FNLP and the Musselwhite Mine. Newmont Corporation previously owned the mine (formerly under Goldcorp), and Orla Mining Ltd. now operates the site.

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The 24 First Nations collectively hold a 51% ownership stake in Wataynikaneyap Power, alongside Fortis Inc. and other private investors. For over 30 years, these Nations have been steadfast advocates for energy security in Northwestern Ontario.

Goldcorp originally joined the project both to meet its own power needs and to support Indigenous ownership, providing essential funding for early pre-development costs. That initial investment played a pivotal role in launching one of Canada’s most significant Indigenous-led infrastructure initiatives.

Rather than seeking repayment on a promissory note issued for those pre-development expenses, Newmont and Orla have agreed to redirect the funds to benefit the region through a newly established charitable organization. The initiative will offer added support for community members pursuing education and skills development.

Silvana Costa, Chief Sustainability Officer at Orla Mining, emphasized the company’s commitment:
“It is important for Orla to support and contribute to the momentum and priorities established by the member Nations of FNLP. We are proud to be building on these historic partnerships with Indigenous communities in Northern Ontario and recognize that true partnership means working together with respect, understanding, and a shared purpose.

The development fund will leverage one unifying project and transform it into the next, and we hope the generation of youth that participate in these new opportunities will in turn be able to do the same. We look forward to being part of this next chapter in the region.”

David Thornton, Managing Director for Newmont Americas, added:
“Although Newmont has since divested our assets in Ontario, our commitment to lasting, positive impact remains. This investment honours the spirit of partnership that shaped our time in the region and looks ahead, supporting youth, education, and Indigenous-led development for generations to come.”

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Newmont Cuts 16% of Workforce in Post-Newcrest Restructuring Drive

Newmont Corporation’s (NEM.N) restructuring following its acquisition of Australian miner Newcrest has affected 16% of its global workforce, according to an internal memo reviewed by Reuters.

The workforce adjustments, encompassing job eliminations, unfilled vacancies, and role-level changes, are part of broader efforts to streamline operations and integrate the two companies. Newmont acquired Newcrest in 2023 for approximately $17 billion, becoming the world’s largest gold producer. Since then, it has divested more than $2 billion in Canadian assets, reduced headcount, and lowered debt to shed non-core operations.

The integration effort includes an internal initiative dubbed “Project Catalyst.” In the final phase of its cost and productivity program, Newmont trimmed roles by roughly 12% at “Level of Work 2”, covering superintendents, leads, and specialists, and by about 10% at “Level of Work 1,” which includes advisors, officers, operators, and maintainers, the memo stated.

The company completed the restructuring a month ahead of schedule, aiming to alleviate employee concerns over extended uncertainty.

As of December 31, 2024, Newmont employed approximately 22,200 people and engaged an additional 20,400 contractors.

“Moves to reshape our structure reflect one of several steps we are taking in 2025 to reduce our cost base and improve productivity,” a company spokesperson told Reuters.

Newmont is also reassessing its asset portfolio to concentrate on high-return operations and strategic partnerships, most notably its Nevada Gold Mines joint venture with Barrick Gold (ABX.TO). Barrick holds a 61.5% stake in the venture, with Newmont owning the remaining 38.5%.

CEO Tom Palmer, who is set to retire on December 31, 2025, recently reaffirmed the company’s commitment to deepening collaboration with Barrick to maximize output from their shared Nevada operations.