Sept 29 (Reuters) - Newmont ( NEM ) on Monday named

Natascha Viljoen as its first female CEO, succeeding Tom Palmer,

at a time when the gold mining sector tries to cope with a slew

of challenges, even as the precious metal hits a series of new

highs.

Viljoen's appointment coincides with the abrupt

resignation of Mark Bristow as CEO of rival Barrick Mining ( B )

earlier in the day.

Shareholders are pressing for stronger returns to match

successive all-time highs in the gold price, even as companies

grapple with rising costs, resource nationalism and growing

expectations to align with the energy transition.

Palmer will step down as Newmont's ( NEM ) top boss on December 31

and serve as a strategic adviser until his retirement in March

next year.

He joined Newmont ( NEM ) in 2014 and became its chief operating

officer in 2016 before being appointed as CEO in 2019.

During his tenure, Newmont ( NEM ) completed transformative deals,

including the Goldcorp acquisition, the Nevada Gold Mines joint

venture and the $17 billion acquisition of Australian mining

company Newcrest to create a top-tier global portfolio.

Viljoen, who joined Newmont ( NEM ) as chief operating officer in

2023, brings more than 30 years of global mining experience,

including senior roles at Anglo American, BHP,

and Lonmin, and as CEO of Anglo American Platinum.

At Newmont ( NEM ), she has focused on operations, portfolio

integration, and talent development, emphasizing safety,

operational excellence and sustainability.

RBC Capital Markets analyst Josh Wolfson said over time,

Newmont ( NEM ) had been signaling a succession plan was in place,

including an announcement in May 2025 that Viljoen would be

promoted to the role of president.

Earlier this year, Karyn Ovelmen also announced her decision

to step down as the chief financial officer of Newmont ( NEM ), after

just over two years at the company. Insider Peter Wexler was

named as interim CFO.

Newmont ( NEM ) shares opened at a record high of $87.93 on Monday,

before reversing gains and falling over 1% to $84.98.

(Reporting by Vallari Srivastava in Bengaluru; Editing by

Shilpi Majumdar and Anil D'Silva)