Toth, who was previously group executive strategy and development at Rio Tinto, joined Newmont in November 2021 as executive vice president, strategic development.
His promotion follows the retirement of chief sustainability & external affairs officer Stephen Gottesfeld after 25 years with Newmont.
Newmont CEO Tom Palmer said he was thankful to Gottesfeld for his dedication to the company.
"He has been a key driver of our strategic approach to sustainability during a transformative period in Newmont's 101-year history," he said.
"Throughout his career, Steve has provided a lasting contribution to Newmont with his commitment to our values, development of exceptional teams and leaders, and trusted counsel to our board and executive leadership teams.
"I am pleased that we are able to turn to a deep bench of sustainability and external relations leaders to support Peter Toth, who will continue to embed ESG and sustainability into our approach to strategic development. ESG and sustainability performance remains critical to our future strategy and success."