Newmont incurred incremental Covid specific costs of $20 million for second quarter

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Newmont continues to maintain wide-ranging protective measures for its workforce and neighboring communities, including screening, physical distancing, deep cleaning and avoiding exposure for at-risk individuals.

The Company incurred incremental Covid specific costs of $20 million during the quarter for activities such as additional health and safety procedures, increased transportation and community fund contributions.

During the second quarter of 2020, the Newmont Global Community Support Fund was established to help host communities, governments and employees combat the Covid pandemic.

Amounts distributed from this fund were $1 million during the quarter and have been adjusted from certain non-GAAP metrics. The remaining $19 million is not adjusted from our non-GAAP metrics.

“We have mobilized a Covid vaccine working group with representatives from across the globe. Newmont views vaccination as critical in the fight against Covid-19 and actively encourages our workforce to get vaccinated as they become eligible.

“We are working to support authorities, through our Global Community Support Fund, to improve the availability and deployment of vaccines to our workforce and host communities,” the company said.

By Laudbusiness.com

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