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91.6 PERCENT OF NEWMONT SHAREHOLDERS SUPPORT RESOLUTION FOR MINING COMPANY TO REPORT ON ITS IMPACTS ON LOCAL COMMUNITIES Julie Tanner, corporate advocacy coordinator at CBIS, said: “Christian Brothers Investment Services and other religious investors welcome this strong vote in favor of the first social resolution embraced by a U.S. mining company. The board endorsement of the resolution and the resulting mandate of this vote should reinforce to Newmont the importance of producing a thorough and substantive report that sheds light on the ways that Newmont can improve its policies and practices, as well as bolster relations with the communities in which it operates.” The resolution reads: “Several Newmont projects in developing countries have been undermined by community protests over the years. A pattern of community resistance to the company’s operations, especially in Peru, Indonesia, and Ghana, raises concerns about issues such as the company’s mining waste disposal practices, the potential for water pollution, development on sacred sites, and community resettlement … [Therefore] shareholders request that a committee of independent board members be formed to conduct a global review and evaluation of the company’s policies and practices relating to existing and potential opposition from local communities and to our company's operations and the steps taken to reduce such opposition; and that the results of that review be included in a report that is made available to shareholders prior to the 2008 annual meeting.” In addition to CBIS, the shareholder resolution was supported by Catholic Health East; Sisters of Saint Joseph of Chestnut Hill, Philadelphia; Mercy Investment Program; CHRISTUS Health; General Board of Pension and Health Benefits; United Methodist Church; Presbyterian Church (USA); Missionary Oblates; Unitarian Universalist Service Committee; Evangelical Lutheran Church in America; John E. Fetzer Institute, Inc.; and Catholic Healthcare West. The leading proxy voting service, Institutional Shareholder Services (ISS), had recommended a vote in favor of the resolution: “ISS believes that it is important for global companies, particularly those that operate in developing markets or regions with social, political, or economic unrest, to have appropriate and effective policies for interacting with the host governments and local communities that will be impacted by their operations. Successful relationships between a company and such stakeholders can improve the efficiency of operations, expand the company’s license to operate in challenging markets, improve the public’s perception of the company, and mitigate the risk of controversy, protests and litigation.” The faith-based investors have stressed that the Newmont report will need to be comprehensive and open to many viewpoints in order to be regarded as credible. In addition, the report should include: * An evaluation of the company’s existing systems to identify, assess and control for social and environmental risks; * A global review of the adequacy and effectiveness of existing social and environmental guidelines, policies, and practices relating to community engagement and to existing and potential opposition from local communities and to our company's operations; * A review of those issues most often associated with community opposition, including the environmental practices and concerns about potential environmental risks posed by the company’s operations, adequacy of timeframes set aside for community engagement from project identification to start up, job creation, revenue sharing, and the development of community investment programs; * An assessment of the actions of other mining and natural resource extractive companies to minimize community opposition, such as the creation of social guidelines designed to gain the free prior informed consent of communities; and * A review of the findings, conclusions and recommendations on specific actions or decisions the Board should consider, including steps to strengthen Newmont’s engagement policies and procedures and actions to mitigate future community opposition overall, reduce risk, and improve community well being, along with an implementation timeline. For the full text of the CBIS resolution, go to http://www.cbisonline.com/page.asp?id=575&type=both&sri_id=100 on the Web. ABOUT CBIS Christian Brothers Investment Services, Inc., manages more than $4 billion, combining faith and finance in the responsible stewardship of Catholic financial assets. CBIS' combination of premier institutional asset managers, diversified product offerings, and careful risk-control strategies constitutes a unique investment approach for Catholic institutions and their fiduciaries. CBIS strives to integrate faith-based values into the investment process through a disciplined approach to socially responsible investing that includes principled purchasing (stock screens), active ownership strategies (proxy voting, dialogues, and shareholder resolutions) and community investment. Visit CBIS on the Web at http://www.cbisonline.com. CONTACT: Patrick Mitchell, (703) 276-3266 or pmitchell@hastingsgroup.com.
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