Newmont North America Scholarship Program
Newmont Mining Corporation recognizes that the success and sustainability of our business, communities, and society as a whole depend upon well-educated citizens. The Newmont North America Scholarship Program (“Program”) provides financial incentive and assistance for post-high school education and/or training to children of Newmont employees. The Program is available to dependent children of employees working in the North American Operations region and Denver Headquarters.
As part of our vision to be recognized and respected for exceptional economic, environmental and social performance, Newmont North American Operations has established this Program to demonstrate leadership in social responsibility. The goal of the Program is to encourage postsecondary education/training and contribute to the educational development of our employees’ children. This encouragement and financial incentive is expected to benefit the individual recipients, our employees, our communities, and our society. Further, given the structure of the program, it will benefit Newmont as well through the development and potential recruitment of educated professionals in disciplines necessary for our success.
The objectives of the Program are to:
- Contribute to meeting our responsibilities to our communities and society;
- Provide an employee benefit and aid in employee retention and attraction; and
- Help maintain our technical workforce through education of future potential employees.
We will form a Scholarship Panel with representatives from Newmont North America to administer the Program as described in this document. The budget for funding scholarship awards will be included as part of Nevada Operations.
Newmont has partnered with Scholarship America to assist students. Clicking “APPLY NOW” will bring you to Scholarship America’s Student Portal.
- Dependent child, as defined by the Newmont benefits plan, of full-time Newmont employee*
- Under 26 years of age (at beginning of semester)
- A high school senior, graduate or current college student
- Enrolled or enrolling in full-time study at an eligible postsecondary institution**
- Maintain a semester Grade Point Average (GPA) of 2.5 or higher on a 4.0 scale***
Scholarship recipients are not eligible to participate in Newmont's Tuition Reimbursement Program, legacy scholarship program, or the MTC Program.
A student who transfers to another school must inform the Scholarship Program administrator of this change before the beginning of the term.
Applicants are responsible for staying current with any modifications to the Program. All Program Information is available through Newmont Human Resources.
*Employee is defined as a full-time, regular employee at the time of application. Fixed-term, contract and part-time employees are not eligible.
**Eligible postsecondary institution is defined as a licensed and accredited undergraduate two-year or four-year college or university. Licensed and accredited technical school or certification program in the United States or Canada are also eligible.
***A student whose GPA falls below 2.5, will be placed on "probation" and given one semester to bring the GPA up to 2.5. If the student is unsuccessful in reestablishing a 2.5 GPA after the probationary period, they will be terminated from the Program. Terminated students may reapply for the Program once they have regained a 2.5 or higher GPA. Students who fail to maintain a GPA of 2.5 or higher may have award levels reduced to the copper level.
Eligibility may be lost if:
- GPA falls below 2.5 for two consecutive semesters
- Student's full-time status changes to part-time
- Student withdraws or is dismissed for a semester.
- Student no longer qualifies as a dependent of a Newmont employee
- Employee terminates employment with Newmont, for reasons other than retirement or severance*
*Eligible dependents of employees who retire or are severed from employment, the current awarded scholarship will be honored for the duration of the academic year (i.e. through the spring semester) as long as all other student eligibility conditions continue to be met.
- Copper: The lowest awarded amount: All first and second year college students and all upperclassmen studying a nonindustrial related field of study with acceptance/renewal to an accredited program or school (e.g., cosmetology, education, nursing, etc.)
- Silver: the intermediate awarded amount: Third, fourth, and fifth year students studying a non-mining specific related field of study with acceptance/renewal to an accredited program or school (business related: HR, accounting, IT, etc.)
- Gold: the highest awarded amount: Third, fourth, and fifth year students studying a mining specific related field of study with acceptance/renewal to an accredited program or school (mining or metallurgical engineering, geology, etc.)
Award amounts are flexible to meet the current business needs. The committee will set the award amounts yearly based upon the approved budget for the year.
Students will be eligible for scholarships for up to five years or until a bachelor's degree is obtained, whichever comes first, on the basis of maintaining all eligibility requirements and reapplying within the Program specified time frame. Students pursuing graduate degrees are not eligible for scholarships.Selection of recipients
Applications and applicants will be evaluated by a panel comprised of representatives from Newmont North America. This review will be to determine that eligibility requirements are met, and to establish the level of award.
Financial need is not considered.Notification
Applicants will be notified in April. Not all applicants to the program will be selected as recipients.Presentation of Awards
A Newmont representative from the Scholarship Panel or delegate may attend local presentation events to publicly acknowledge recipients. The Scholarship Review Panel will also ensure that awards are publicized in local area newspapers as appropriate so students are recognized for their achievements.
The Scholarship Panel will publish an honor roll of scholarship recipients each semester.Payment of Scholarships
Scholarship America processes scholarship payments on behalf of Baldor Foundation. Awards will be paid in two installments in August and January. Awards are made payable to the institution for the student.
In the U.S., the Newmont North America Scholarship is considered by the IRS to be a taxable employee benefit. Employees will have taxes withheld twice per year to account for this tax liability.
In Canada, the Newmont North America Scholarship is taxable to the student.
- A current, complete transcript of grades. Grade reports are not accepted. Transcripts must display student name, school name, grades and credit hours for each course and term in which each course was taken.