Tom Palmer, CEO of Newmont Corporation, has announced his retirement at the end of 2025 after more than 12 years with the company. Palmer joined Newmont in 2014 and has been central to the company’s growth and transformation into the world’s largest gold mining firm.
Palmer started with Newmont as Senior Vice President for Indonesia in 2014. At that time, Newmont was expanding its global footprint and navigating a competitive mining environment. His initial role placed him at the forefront of growth initiatives in one of the company’s most strategic regions.
In 2015, Palmer was promoted to Senior Vice President for Asia Pacific, managing operations across Australia, Indonesia, and other countries in the region. He guided teams through critical phases of development and consolidation.
By 2016, he moved into the role of Executive Vice President and Chief Operating Officer. This position tasked him with overseeing day-to-day operations and integrating multiple business units to boost productivity and safety. He was elevated to President and COO in late 2018 before becoming CEO in October 2019.
Under Palmer’s leadership, Newmont completed several major transactions. These included the acquisition of Goldcorp, the formation of the Nevada Gold Mines joint venture, and the $17 billion purchase of Australian miner Newcrest. Each helped build a globally diversified portfolio featuring world-class assets.
Palmer emphasized the company’s commitment to responsible gold mining and sustainability. He shaped Newmont’s reputation as an industry leader that balances business success with social and environmental responsibilities.
In his retirement announcement, Palmer said,
“After 12 years at Newmont and nearly 40 years in the mining sector, I believe it is time for me to retire and pass the reins to Natascha, who will guide our company into its next chapter.”
He expressed gratitude to the Board, the executive leadership team, and employees for their contributions throughout his tenure.
He added,
“It has been an honor to serve as CEO. I have every confidence that Natascha and Newmont will capitalize on the numerous opportunities that lie ahead.”
Palmer’s background includes over 20 years at Rio Tinto, where he was Chief Operating Officer for Pilbara Iron Ore Mines. This experience helped him foster a culture of safety, operational excellence, and diversity within Newmont.
He was also recently named Chair of the International Council on Mining and Metals (ICMM), highlighting his influence across the global mining sector.
Palmer will remain as a Strategic Advisor until March 31, 2026, to assist in a smooth leadership transition. His successor, Natascha Viljoen, Newmont’s President and COO, will take over as CEO starting January 1, 2026. Viljoen brings more than 30 years of global mining experience and a strong focus on safety and operational discipline.
Palmer’s 12-year run at Newmont marked a period of expansion, operational improvements, and a steadfast commitment to sustainable mining. His leadership prepared Newmont to meet future challenges and seize opportunities in a changing industry.
Newmont Corporation is the world’s leading gold mining company, operating in multiple countries, including key presence in the Asia Pacific region and Papua New Guinea. The company’s portfolio includes large-scale mining operations, exploration projects, and sustainable development initiatives.
In Asia Pacific, Newmont manages significant projects in Australia and Indonesia. The company’s operations in Indonesia include the Batu Hijau mine in Sumbawa, part of a globally diversified asset base. These projects contribute importantly to Newmont’s gold production and regional employment.
In Papua New Guinea, Newmont has a presence through its joint ventures and exploration interests. The company emphasizes responsible mining practices, community engagement, and environmental stewardship, aligning with local and international standards.
Newmont’s approach combines advanced technology, rigorous safety standards, and sustainable development goals. The company invests in modernizing mining infrastructure and implements programs to benefit local communities, including education, health, and economic opportunities.
