Newmont Mining (NEM.US) announced on Monday the appointment of current President and Chief Operating Officer (COO) Natascha Viljoen as the new President and Chief Executive Officer (CEO), succeeding Tom Palmer who will officially retire on January 1st.

Viljoen joined Newmont in 2023, initially serving as Executive Vice President and Chief Operating Officer, bringing over 30 years of leadership experience in the global mining industry. Previously, she served as CEO of Anglo American Platinum (now renamed Valterra), the world's largest primary platinum producer, and was also a member of Anglo American's executive committee.

Palmer has served as Newmont's CEO since 2019, having begun his career with the company in 2014 as Senior Vice President for the Indonesia region, before being promoted to Executive Vice President and Chief Operating Officer in 2016. During his tenure, he led several major transactions, including the acquisitions of Goldcorp and Newcrest Mining, as well as the formation of the Nevada Gold Mines joint venture. Earlier in his career, Palmer spent 20 years at Rio Tinto (RIO.US), concluding his tenure there as Chief Operating Officer of the group's Pilbara iron ore operations.

Driven by gold prices continuing to climb to historic highs above $3,800 per ounce, Newmont Mining shares rose 1.3% in early Monday trading. Year-to-date, the stock has more than doubled in value.