Suriname Kept US$4.74 Billion From Newmont Merian Gold Mine in 10 Years
SURINAME · MINING
Key Facts
- —The country Suriname, a Dutch-speaking country of about 640,000 people on South America’s north-east coast, where gold is the main export.
- —The mine The Newmont Merian gold mine is 75 percent owned by US miner Newmont and 25 percent by state oil company Staatsolie.
- —Why now Newmont marked ten years of commercial production and its four millionth ounce at Merian on Friday 2 October 2026.
- —What happened Newmont said Merian earned US$6.6 billion in ten years, and that US$4.74 billion of it, about 73 percent, stayed in Suriname.
- —Where it went By the company’s count, US$1.54 billion went to the state, US$2.7 billion to suppliers and contractors, and US$504 million to wages.
- —What it means for you The mine holds about 4.5 million ounces of reserves and is expected to keep producing until at least 2042.
- —Still open The totals are Newmont’s own figures, and President Jennifer Simons asked that nearby communities and other sectors share more of the gains.
The Newmont Merian gold mine has left US$4.74 billion inside Suriname in its first ten years, the company says. That is about 73 percent of the US$6.6 billion the mine earned since production began in October 2016.
Newmont presented the figures on Friday 2 October 2026, at a ceremony for the mine’s tenth anniversary and four millionth ounce. President Jennifer Simons attended, the Suriname Herald and GFC Nieuws reported.
What Newmont Says Stayed in Suriname
Country manager Shirley Sowma-Sumter broke the total into three parts, according to the Suriname Herald. The largest share, US$2.7 billion, went to suppliers and contractors working for the mine.
Another US$1.54 billion went into the state budget, through royalties of 6 percent of revenue and income and wage taxes. It also includes the proceeds paid to Staatsolie, Suriname’s state oil company.
Staatsolie owns 25 percent of the Newmont Merian partnership and received US$620 million in net proceeds over the decade, the presentation showed. Wages paid to staff added US$504 million.
Sowma-Sumter said the rest of the revenue could not stay in Suriname. Part pays for goods bought abroad, and part is Newmont’s profit.
How Big That Is for a Small Economy
Spread over ten years, US$4.74 billion works out at roughly US$474 million a year. For a country of about 640,000 people, that is about US$740 a year for every resident.
Local spending by the Newmont Merian operation grew from US$160 million in 2016 to US$345 million in 2025. Last year the share kept in the country reached 75 percent.
Nearly 97 percent of the workforce is Surinamese, said interim general manager Clinton Van der Westhuizen. The company wants to raise the local share further by training staff and Surinamese suppliers.
Gold sits at the centre of Suriname’s economy, as the Suriname Explained guide sets out. Until offshore oil starts flowing, it is the main export.
Four Million Ounces and a Mine Life to 2042
The Newmont Merian mine sits in north-eastern Suriname, about 66 kilometres south of the town of Moengo, according to Newmont. It is an open-pit mine with two active pits, Merian 1 and Merian 2.
By the end of 2025 it had produced about 3.8 million ounces, and the four millionth ounce came this year. For 2026 the company expects about 300,000 ounces.
Van der Westhuizen put the all-in cost of keeping production going at about US$1,800 an ounce. Newmont also plans about US$80 million this year to sustain the existing operation.
Reserves stand at about 4.5 million ounces on top of what has already been mined, Newmont confirmed. GFC Nieuws and the government both reported that the mine will run until at least 2042.
What the President Asked For
Simons welcomed the contribution but set out conditions. “Local communities must always benefit from what happens in their area,” she said, according to the Government of Suriname.
She also said gold can play a big role without crowding out other sectors of the economy. Natural Resources Minister David Abiamofo and Newmont’s Americas chief Dave Meador also attended, GFC Nieuws reported.
During questions, Simons asked whether Newmont shares its approach to small-scale miners with other gold companies. Sowma-Sumter said the firm talks to its peers regularly, though conditions differ from mine to mine.
Small-Scale Miners and Nearby Villages
Small-scale gold mining is widespread in Suriname’s interior, and mercury is still used to bind the gold. Newmont works with the Paramaka, a Maroon community near the mine, under a cooperation agreement.
Part of that deal is the Paramaka Mining Reserve, an area where small-scale miners can work in a more organised way. Newmont helped set up a cooperative and says it promotes mining without mercury.
With the National Development Bank, the company has granted eleven loans worth US$176,000 to miners seeking other incomes. More than 350 people have taken vocational courses, and about 43 local entrepreneurs now supply the mine.
On the environment, Newmont says it runs more than 200 monitoring points around Merian and reuses process water. It reports more than 100 hectares rehabilitated in ten years.
What Comes Next
Van der Westhuizen said the Newmont Merian operation could grow from 300,000 to 350,000 ounces a year towards 500,000, at lower cost. That would need permits, access to land and a stable investment climate, he said.
The ten-year figure does not mean the state received US$4.74 billion. The government’s direct share was US$1.54 billion, and the totals come from Newmont rather than an independent audit.
For investors and residents, the Newmont Merian anniversary shows a mine with years of output ahead. The open question is how much more of that value Suriname can keep.
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What is the Merian gold mine?
The Newmont Merian mine is an open-pit gold mine in north-eastern Suriname that began commercial production in October 2016. US company Newmont owns 75 percent, and Suriname’s state oil company Staatsolie owns 25 percent.
Did Suriname’s government receive US$4.74 billion from the Newmont Merian mine?
No. The US$4.74 billion is Newmont’s total for money spent in the country, including suppliers and wages. The state budget’s share, through royalties, taxes and Staatsolie’s proceeds, was US$1.54 billion.
How long will the Newmont Merian mine keep producing?
Newmont and the government say the mine has a horizon until at least 2042. It holds reserves of about 4.5 million ounces, and the company is studying a larger output.
Why does gold matter so much to Suriname?
Gold is Suriname’s main export, and the country’s first offshore oil is not due before 2028. Large mines and thousands of small-scale miners both depend on it.
Sources: Suriname Herald, 3 October 2026; GFC Nieuws, 3 October 2026; Government of Suriname, 2 October 2026; Starnieuws, 3 October 2026; Newmont, accessed 4 October 2026.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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