Q1 2025 Outcomes
- Reported Internet Revenue of $1.9 billion, Adjusted Internet Revenue (ANI) 2 of $1.25 per diluted share and Adjusted EBITDA 2 of $2.6 billion
- On monitor to fulfill Newmont’s 2025 steerage 3 , with first quarter outcomes consistent with indications supplied in February 2025
- Accomplished divestiture program introduced in 2024, and finalized the gross sales of Musselwhite, Éléonore and Cripple Creek & Victor (CC&V) in February, and Porcupine and Akyem in April 4
- Obtained over $2.5 billion in money proceeds web of tax impacts from the divestiture gross sales closed in 2025, with whole gross proceeds anticipated to whole as much as $4.3 billion from non-core asset and different funding gross sales
- Generated $2.0 billion of money from working actions, web of working capital adjustments of $(141) million; reported a document first quarter Free Money Circulation 2 of $1.2 billion
- Delivered $1.0 billion in whole returns to shareholders by share repurchases and dividend funds because the begin of the yr; declared a dividend of $0.25 per share of widespread inventory for the primary quarter of 2025
- Produced 1.5 million attributable gold ounces, primarily pushed by manufacturing of 1.3 million gold ounces from Newmont’s Tier 1 Portfolio 3 , in addition to 35 thousand tonnes of copper
- Maintained a robust and versatile investment-grade stability sheet, ending the quarter with $4.7 billion in money and $8.8 billion in whole liquidity 5
- Lowered debt by $1.0 billion because the begin of the yr 6 , which incorporates early redemption of $928 million of 2026 Notes redeemed on February 7, 2025 and $75 million in market purchases 6 ; reported Internet debt to Adjusted EBITDA 2 of 0.3x
| _____________________________ |
|
1 Newmont’s Board of Administrators declared a dividend of $0.25 per share of widespread inventory for the primary quarter of 2025, payable on June 20, 2025 to holders of document on the shut of enterprise on Might 27, 2025. |
|
2 Non-GAAP metrics; see reconciliations on the finish of this launch. |
|
3 See dialogue of steerage, together with the definition of the Tier 1 Portfolio, and cautionary assertion on the finish of this launch relating to forward-looking statements. |
|
4 All beforehand introduced working websites have been divested, with the Espresso improvement challenge remaining designated as held on the market. No settlement has been reached with respect to Espresso as of the date of this launch. |
|
5 Complete liquidity as of March 31, 2025 contains $0.1 billion in money for property held on the market and $4.0 billion accessible on a revolving credit score facility |
|
6 Complete debt purchases embody $22 million in April 2025. |
Abstract of First Quarter Outcomes
|
2024 |
2025 |
||||||||||||||||
|
Q1 |
Q2 |
Q3 |
This fall |
FY |
Q1 |
YTD |
|||||||||||
|
Common realized gold worth ($/oz) |
$ |
2,090 |
$ |
2,347 |
$ |
2,518 |
$ |
2,643 |
$ |
2,408 |
$ |
2,944 |
$ |
2,944 |
|||
|
Attributable gold manufacturing (Moz) 1 |
1.68 |
1.61 |
1.67 |
1.90 |
6.85 |
1.54 |
1.54 |
||||||||||
|
Gold CAS ($/oz) 2,3 |
$ |
1,057 |
$ |
1,152 |
$ |
1,207 |
$ |
1,096 |
$ |
1,126 |
$ |
1,227 |
$ |
1,227 |
|||
|
Gold AISC ($/oz) 3 |
$ |
1,439 |
$ |
1,562 |
$ |
1,611 |
$ |
1,463 |
$ |
1,516 |
$ |
1,651 |
$ |
1,651 |
|||
|
Internet earnings (loss) attributable to Newmont stockholders ($M) |
$ |
170 |
$ |
853 |
$ |
922 |
$ |
1,403 |
$ |
3,348 |
$ |
1,891 |
$ |
1,891 |
|||
|
Adjusted web earnings ($M) 4 |
$ |
630 |
$ |
834 |
$ |
936 |
$ |
1,591 |
$ |
3,991 |
$ |
1,404 |
$ |
1,404 |
|||
|
Adjusted web earnings per share ($/diluted share) 4 |
$ |
0.55 |
$ |
0.72 |
$ |
0.81 |
$ |
1.40 |
$ |
3.48 |
$ |
1.25 |
$ |
1.25 |
|||
|
Adjusted EBITDA ($M) 4 |
$ |
1,694 |
$ |
1,966 |
$ |
1,967 |
$ |
3,048 |
$ |
8,675 |
$ |
2,629 |
$ |
2,629 |
|||
|
Money from operations earlier than working capital ($M) 5 |
$ |
1,442 |
$ |
1,657 |
$ |
1,846 |
$ |
2,398 |
$ |
7,343 |
$ |
2,172 |
$ |
2,172 |
|||
|
Internet money from working actions of continuous operations ($M) |
$ |
776 |
$ |
1,394 |
$ |
1,637 |
$ |
2,511 |
$ |
6,318 |
$ |
2,031 |
$ |
2,031 |
|||
|
Capital expenditures ($M) 6 |
$ |
850 |
$ |
800 |
$ |
877 |
$ |
875 |
$ |
3,402 |
$ |
826 |
$ |
826 |
|||
|
Free money circulate ($M) 7 |
$ |
(74 |
) |
$ |
594 |
$ |
760 |
$ |
1,636 |
$ |
2,916 |
$ |
1,205 |
$ |
1,205 |
||
First Quarter 2025 Manufacturing and Monetary Abstract
Attributable gold manufacturing 1 decreased 19 % to 1,537 thousand ounces from the prior quarter as anticipated, primarily resulting from decreased contributions from non-core operations, which included solely two months of manufacturing from Musselwhite, Éléonore and CC&V. Further impacts to manufacturing included decrease manufacturing on the non-managed three way partnership at Nevada Gold Mines, ongoing security enhancements at Cerro Negro and deliberate mine sequencing at Boddington and Tanami.
Common realized gold worth was $2,944 per ounce, a rise of $301 per ounce over the prior quarter. Common realized gold worth contains $2,890 per ounce of gross worth obtained, a good impression of $64 per ounce mark-to-market on provisionally-priced gross sales and reductions of $10 per ounce for therapy and refining costs.
Gold CAS 2 totaled $1.8 billion for the quarter. Gold CAS per ounce 3 elevated 12 % to $1,227 per ounce in comparison with the prior quarter primarily resulting from decrease gold manufacturing, increased royalty prices and larger allocation of value to gold at co-product producing websites resulting from a beforehand introduced reserve worth replace, partially offset by stock adjustments and decrease direct working prices.
Gold AISC per ounce 3 elevated 13 % to $1,651 per ounce in comparison with the prior quarter primarily resulting from increased CAS per ounce as anticipated.
Internet earnings attributable to Newmont stockholders was $1.9 billion or $1.68 per diluted share, a rise of $488 million from the prior quarter. This improve was primarily pushed by a acquire on the sale of property held on the market of $276 million in comparison with a loss within the prior quarter, in addition to decrease prices relevant to gross sales, and a rise within the honest worth of investments and choices of $291 million. These adjustments largely offset decrease gross sales volumes.
Adjusted web earnings 4 for the quarter was $1.4 billion or $1.25 per diluted share, in comparison with $1.6 billion or $1.40 per diluted share within the prior quarter. Major changes to first quarter web earnings embody a web improve within the honest worth of investments and choices of $291 million and a web acquire on the sale of property held on the market of $276 million primarily associated to the mine gross sales that closed within the first quarter.
Adjusted EBITDA 4 decreased 14 % to $2.6 billion, whereas EBITDA elevated by $307 million. The rise in EBITDA was pushed by principally by increased web earnings. Adjusted EBITDA excludes one-time changes totaling $514 million, primarily resulting from a web improve within the worth of investments and choices, in addition to the web acquire on the sale of property held on the market.
Consolidated money from operations earlier than working capital 5 decreased 9 % from the prior quarter to $2.2 billion primarily resulting from decrease gross sales partially offset by decrease money prices.
Consolidated web money from working actions decreased 19 % from the prior quarter to $2.0 billion primarily resulting from decrease money from operations earlier than working capital. Internet working capital outflow within the first quarter of $141 million was primarily resulting from a construct in stock and stockpiles of $175 million and the continued money spend for beforehand accrued reclamation actions of $95 million, primarily associated to the continuing development of the Yanacocha water remedies vegetation. These unfavorable working capital adjustments had been partially offset by favorable timing of money collections from accounts receivable of $228 million and an accrual for taxes payable of $91 million.
Free Money Circulation 7 decreased 26 % from the prior quarter to $1.2 billion primarily resulting from a lower in consolidated web money from working actions, together with unfavourable working capital impacts.
Stability sheet and liquidity remained sturdy within the first quarter, ending with $4.7 billion of consolidated money and $67 million of money included in Belongings held on the market , with roughly $8.8 billion of whole liquidity; reported web debt to adjusted EBITDA of 0.3x 8 .
Non-Managed Joint Enterprise and Fairness Technique Investments 9
Nevada Gold Mines (NGM) attributable gold manufacturing decreased 23 % to 216 thousand ounces, with a 21 % improve in CAS per ounce to $1,426 per ounce. AISC per ounce elevated 20 % from the prior quarter to $1,789 per ounce 3 .
Pueblo Viejo (PV) attributable gold manufacturing decreased 21 % to 49 thousand ounces in comparison with the prior quarter. Money distributions obtained for the Firm’s fairness technique funding in Pueblo Viejo totaled $64 million within the first quarter. Capital contributions of $20 million had been made in the course of the quarter associated to the growth challenge at Pueblo Viejo.
Fruta del Norte attributable gold manufacturing is reported on 1 / 4 lag. Manufacturing reported within the first quarter of 2025 elevated 10 % to 43 thousand ounces in comparison with the prior quarter. Money distributions obtained from the Firm’s fairness technique funding in Fruta del Norte had been $23 million for the primary quarter.
|
___________________________________ |
|
1 Attributable gold manufacturing contains ounces from the Firm’s fairness technique funding in Pueblo Viejo (40%) and in Lundin Gold (32%). |
|
2 Consolidated Prices relevant to gross sales (CAS) excludes Depreciation and amortization and Reclamation and remediation. |
|
3 Non-GAAP measure. See finish of this launch for reconciliation to Prices relevant to gross sales. |
|
4 Non-GAAP measure. See finish of this launch for reconciliation to Internet earnings (loss) attributable to Newmont stockholders. |
|
5 Money from operations earlier than working capital is a non-GAAP metric with probably the most straight comparable GAAP monetary metric being to Internet money supplied by (utilized in) working actions, as proven reconciled within the Condensed Consolidated Statements of Money Flows. |
|
6 Capital expenditures refers to Additions to property plant and mine improvement from the Consolidated Statements of Money Flows. |
|
7 Non-GAAP measure. See finish of this launch for reconciliation to Internet money supplied by working actions. |
|
8 Non-GAAP measure. See finish of this launch for reconciliation. |
|
9 Newmont has a 38.5% curiosity in Nevada Gold Mines, which is accounted for utilizing the proportionate consolidation technique. As well as, Newmont has a 40% curiosity in Pueblo Viejo, which is accounted for as an fairness technique funding, in addition to a 32% curiosity in Lundin Gold, who wholly owns and operates the Fruta del Norte mine, which is accounted for as an fairness technique funding on 1 / 4 lag. |
Newmont’s 2025 Steering
Newmont stays on monitor to fulfill its beforehand revealed 2025 steerage. For extra particulars, consult with the Firm’s Fourth Quarter 2024 Earnings and 2025 Steering press launch, issued on February 20, 2025, and accessible on www.newmont.com . Please see the cautionary assertion and footnotes for added info.
|
Steering Metric (+/-5%) a |
2025E |
||
|
Attributable Gold Manufacturing (Moz) |
|||
|
Managed Tier 1 Portfolio |
4.2 |
||
|
Non-Managed Tier 1 Portfolio b |
1.4 |
||
|
Complete Tier 1 Portfolio |
5.6 |
||
|
Non-Core Belongings c |
0.3 |
||
|
Complete Newmont Attributable Gold Manufacturing (Moz) |
5.9 |
||
|
Gold CAS ($/oz) d |
|||
|
Managed Tier 1 Portfolio |
$ |
1,170 |
|
|
Non-Managed Tier 1 Portfolio b |
$ |
1,240 |
|
|
Complete Tier 1 Portfolio |
$ |
1,180 |
|
|
Non-Core Belongings |
$ |
1,450 |
|
|
Complete Newmont Gold CAS ($/oz) d |
$ |
1,200 |
|
|
Gold AISC ($/oz) d |
|||
|
Managed Tier 1 Portfolio |
$ |
1,630 |
|
|
Non-Managed Tier 1 Portfolio b |
$ |
1,555 |
|
|
Complete Tier 1 Portfolio |
$ |
1,620 |
|
|
Non-Core Belongings c |
$ |
1,830 |
|
|
Complete Newmont Gold AISC ($/oz) d |
$ |
1,630 |
|
|
Sustaining Capital ($M) |
|||
|
Managed Tier 1 Portfolio |
$ |
1,530 |
|
|
Non-Managed Tier 1 Portfolio b |
$ |
270 |
|
|
Complete Tier 1 Portfolio |
$ |
1,800 |
|
|
Non-Core Belongings c |
$ |
75 |
|
|
Complete Newmont Sustaining Capital c |
$ |
1,875 |
|
|
Improvement Capital ($M) |
|||
|
Managed Tier 1 Portfolio |
$ |
1,140 |
|
|
Non-Managed Tier 1 Portfolio b |
$ |
160 |
|
|
Complete Tier 1 Portfolio |
$ |
1,300 |
|
|
Non-Core Belongings c |
$ |
30 |
|
|
Complete Newmont Improvement Capital e |
$ |
1,330 |
|
|
Consolidated Bills |
|||
|
Exploration & Superior Tasks ($M) |
$ |
525 |
|
|
Normal & Administrative ($M) |
$ |
475 |
|
|
Curiosity Expense ($M) |
$ |
300 |
|
|
Depreciation & Amortization ($M) f |
$ |
2,600 |
|
|
Reclamation and Remediation Accretion ($M) g |
$ |
475 |
|
|
Adjusted Tax Price h,i |
34 |
% |
|
2025 GOLD PRODUCTION AND CAPITAL SEASONALITY GUIDANCE AND SECOND QUARTER COMMENTARY
|
Complete Tier 1 Portfolio j |
H1 2025E |
H2 2025E |
|
Attributable Manufacturing |
48% |
52% |
|
Sustaining Capital |
52% |
48% |
|
Improvement Capital |
57% |
43% |
H1/H2 Commentary: Attributable gold manufacturing for the Complete Tier 1 Portfolio in 2025 is anticipated to be roughly 48 % weighted to the primary half of the yr. The rise in manufacturing within the second half of the yr is anticipated to be pushed primarily by the non-managed Nevada Gold Mines and Pueblo Viejo operations and the addition of Ahafo North to industrial manufacturing. Gold manufacturing weighting excludes non-core property.
Sustaining capital for the Complete Tier 1 Portfolio stays weighted towards the primary half of 2025, with scheduled work on pit design and entry roads for Part 14a at Lihir ongoing and the second quarter begin of hotter climate floor work at Pink Chris and Brucejack in Canada. Improvement capital for the Complete Tier 1 Portfolio is closely weighted to the primary half of 2025 with spend at Ahafo North anticipated to peak within the second quarter earlier than declining every quarter for the rest of the yr because the challenge strikes towards industrial manufacturing.
Second Quarter Commentary: The second quarter of 2025 is anticipated to incorporate 24 % of Complete Tier 1 Portfolio manufacturing consistent with the primary quarter. Second quarter attributable manufacturing from the Complete Tier 1 portfolio is anticipated to be comparatively consistent with the earlier quarter as anticipated manufacturing development from the non-operated joint ventures, Cerro Negro, Brucejack and Boddington is offset by declines at Ahafo South and Cadia. Unit prices are anticipated to be much like barely increased than the primary quarter resulting from increased sustaining capital spend. The second quarter will embody restricted excessive value ounces from Porcupine and Akyem, reflecting manufacturing previous to the shut of these transactions on April 15. Sustaining capital is anticipated to peak within the second quarter as deliberate funding ramps up. In comparison with the earlier quarter, second quarter free money circulate is anticipated to be adversely impacted by the divestment of the non-core property, increased tax funds associated to elevated profitability in earlier durations and taxes from the divestments, increased deliberate improvement capital at Ahafo North and Cadia, and the continued ramp-up of spending on development of the Yanacocha water therapy services.
|
__________________________ |
|
a 2025 steerage projections are thought-about forward-looking statements and symbolize administration’s good religion estimates or expectations of future manufacturing outcomes as of February 20, 2025. Steering is predicated upon sure assumptions, together with, however not restricted to, steel costs, oil costs, sure trade charges and different assumptions. For instance, 2025 Steering assumes $2,500/ozAu, $9,370/tonne Cu, $30/ozAg, $2,756/tonne Zn, $2,094/tonne Pb, $0.70 AUD/USD trade fee, $0.75 CAD/USD trade fee and $90/barrel WTI. Manufacturing, CAS, AISC and capital estimates exclude tasks that haven’t but been authorised. The potential impression on stock valuation because of decrease costs, enter prices, and challenge choices usually are not included as a part of this Outlook. Assumptions used for functions of Steering might show to be incorrect and precise outcomes might differ from these anticipated, together with variation past a +/-5% vary. See cautionary assertion on the finish of this launch. |
|
b Steering for Non-managed operations supplied by three way partnership or working companions. |
|
c Steering for non-core property held on the market, Akyem, CC&V, Porcupine, Éléonore, and Musselwhite, displays attributable gold manufacturing, Gold CAS, Gold AISC, sustaining capital, and improvement capital for the primary quarter of 2025 solely. The sale of CC&V, Éléonore, and Musselwhite closed on February 28, 2025 and the sale of Akyem and Porcupine closed April 15, 2025. See cautionary assertion on the finish of this launch. |
|
d Introduced on a consolidated foundation and assuming a gold worth of $2,500/oz. |
|
e Sustaining capital is introduced on an attributable foundation; Capital steerage excludes quantities attributable to the Pueblo Viejo three way partnership. |
|
f Depreciation & Amortization contains Q1 2025 just for non-core property. |
|
g Reclamation and Remediation Accretion represents a subset of bills inside Reclamation and Remediation expense and is unique of Reclamation and Remediation changes and different inside that earnings assertion expense line merchandise. Reclamation and Remediation Accretion contains Q1 2025 just for non-core property. |
|
h The adjusted tax fee excludes sure objects reminiscent of tax valuation allowance changes. |
|
i Assuming common costs of $2,500 per ounce for gold, $9,370 per tonne for copper, $30 per ounce for silver, $2,094 per tonne for lead, and $2,756 per tonne for zinc and achievement of present manufacturing, gross sales and price estimates, Newmont estimates its consolidated adjusted efficient tax fee associated to persevering with operations for 2025 will likely be 34%. |
|
j Complete Tier 1 Portfolio contains the Managed Tier 1 Portfolio and the Non-Managed Tier 1 Portfolio and doesn’t embody non-core property held on the market. |
2025 Website Steering a as of February 20, 2025
|
2025 Steering |
Consolidated Manufacturing (Koz) |
Attributable Manufacturing (Koz) |
Consolidated CAS ($/oz) |
Consolidated All-In Sustaining Prices b ($/oz) |
Attributable Sustaining Capital Expenditures ($M) |
Attributable Improvement Capital Expenditures ($M) |
|
Managed Tier 1 Portfolio |
||||||
|
Boddington |
560 |
560 |
1,270 |
1,620 |
150 |
— |
|
Tanami |
380 |
380 |
1,100 |
1,630 |
160 |
360 |
|
Cadia |
280 |
280 |
1,000 |
1,950 |
490 |
330 |
|
Lihir |
600 |
600 |
1,330 |
1,760 |
180 |
— |
|
Ahafo |
670 |
670 |
1,120 |
1,400 |
130 |
— |
|
Ahafo North |
50 |
50 |
350 |
480 |
5 |
290 |
|
Peñasquito |
390 |
390 |
930 |
1,210 |
110 |
— |
|
Cerro Negro |
250 |
250 |
1,010 |
1,340 |
80 |
40 |
|
Yanacocha |
460 |
460 |
920 |
1,070 |
10 |
— |
|
Merian c |
295 |
210 |
1,490 |
1,770 |
50 |
— |
|
Brucejack |
255 |
255 |
1,400 |
1,920 |
80 |
— |
|
Pink Chris |
60 |
60 |
1,440 |
2,050 |
70 |
120 |
|
Non-Managed Tier 1 Portfolio |
||||||
|
Nevada Gold Mines d |
1,015 |
1,015 |
1,240 |
1,555 |
270 |
160 |
|
Pueblo Viejo e |
— |
260 |
— |
— |
— |
— |
|
Fruta Del Norte f |
— |
160 |
— |
— |
— |
— |
|
Non-Core Belongings |
250 |
250 |
1,450 |
1,830 |
75 |
30 |
|
Co-Product Manufacturing |
||||||
|
Boddington – Copper (ktonne) |
23 |
23 |
5,330 |
6,830 |
— |
— |
|
Cadia – Copper (ktonne) |
67 |
67 |
4,600 |
8,780 |
— |
— |
|
Peñasquito – Silver (Moz) |
28 |
28 |
11.50 |
15.00 |
— |
— |
|
Peñasquito – Lead (ktonne) |
90 |
90 |
1,080 |
1,290 |
— |
— |
|
Peñasquito – Zinc (ktonne) |
236 |
236 |
1,430 |
1,890 |
— |
— |
|
Pink Chris – Copper (ktonne) |
28 |
28 |
6,370 |
8,800 |
— |
— |
|
a 2025 steerage projections are thought-about forward-looking statements and symbolize administration’s good religion estimates or expectations of future manufacturing outcomes as of February 20, 2025. Steering is predicated upon sure assumptions, together with, however not restricted to, steel costs, oil costs, sure trade charges and different assumptions. For instance, 2025 Steering assumes $2,500/ozAu, $9,370/tonne Cu, $30/ozAg, $2,756/tonne Zn, $2,094/tonne Pb, $0.70 AUD/USD trade fee, $0.75 CAD/USD trade fee and $80/barrel WTI. Manufacturing, CAS, AISC and capital estimates exclude tasks that haven’t but been authorised. The potential impression on stock valuation because of decrease costs, enter prices, and challenge choices usually are not included as a part of this Outlook. Assumptions used for functions of Steering might show to be incorrect and precise outcomes might differ from these anticipated, together with variation past a +/-5% vary. Steering can’t be assured. As such, traders are cautioned to not place undue reliance upon Steering and forward-looking statements as there might be no assurance that the plans, assumptions or expectations upon which they’re positioned will happen. Quantities might not recalculate to totals resulting from rounding. See cautionary assertion on the finish of this launch. |
|
b All-in sustaining prices (AISC) as used within the Firm’s Steering is a non-GAAP metric; see under for additional info and reconciliation to consolidated 2025 CAS outlook. |
|
c Consolidated manufacturing for Merian is introduced on a complete manufacturing foundation for the mine website; attributable manufacturing represents a 75% curiosity for Merian. |
|
d Represents the possession curiosity within the Nevada Gold Mines (NGM) three way partnership. NGM is owned 38.5% by Newmont and owned 61.5% and operated by Barrick. The Firm accounts for its curiosity in NGM utilizing the proportionate consolidation technique, thereby recognizing its pro-rata share of the property, liabilities and operations of NGM. |
|
e Attributable manufacturing contains Newmont’s 40% curiosity in Pueblo Viejo, which is accounted for as an fairness technique funding. |
|
f Attributable manufacturing contains Newmont’s 32% curiosity in Lundin Gold, who wholly owns and operates the Fruta del Norte mine, which is accounted for as an fairness technique funding on 1 / 4 lag. |
Divestiture Program Replace
In February 2024, Newmont introduced the intent to divest its non-core property, together with six operations and two tasks from its Australian, Ghanaian and North American enterprise models. To this point, Newmont has accomplished the gross sales for all non-core operations and its 70 % curiosity within the Havieron challenge.
Complete gross proceeds from introduced transactions are anticipated to be as much as $4.3 billion together with contingent funds and shutting changes. This contains $3.8 billion from the divestment of six non-core operations, together with as much as $475 million from the sale of the Telfer mine, which closed in 2024, and $527 million from the sale of the Lundin Gold stream credit score facility and offtake settlement, in addition to the monetization of Newmont’s Batu Hijau contingent funds. Particulars for transactions closed in 2025 are as follows:
- As much as $850 million from the sale of the Musselwhite operation , closed on February 28, 2025;
- $784 million from the sale of the Éléonore operation , closed on February 28, 2025;
- As much as $275 million for the sale of the CC&V operation , closed on February 28, 2025;
- As much as $1.0 billion from the sale of the Akyem operation , closed on April 15, 2025; and
- As much as $425 million for the sale of the Porcupine operation , closed on April 15, 2025.
Tasks Replace
For particulars on Newmont’s key tasks at present in execution, consult with the Firm’s Fourth Quarter 2024 Earnings and 2025 Steering press launch, issued on February 20, 2025, and accessible on www.newmont.com . Further challenge updates will likely be supplied as they turn out to be accessible. Please consult with the cautionary assertion and footnotes for additional info.
Dedicated to Concurrent Reclamation
Since mines function for a finite interval, cautious closure planning is essential to deal with the various social, financial, environmental, and regulatory impacts related to the tip of mining operations. Newmont’s world Closure Technique integrates closure planning all through every operation’s lifespan, aiming to create enduring optimistic and sustainable legacies that final lengthy after mining ceases. Newmont continues to accrue to reclamation and remediation spend by the yr. Within the first quarter of 2025, Newmont spent $95 million on reclamation actions, together with $50 million on the development of water therapy vegetation at Yanacocha which is anticipated to proceed to extend every quarter by the yr with the fourth quarter deliberate to be the best of the yr. The Firm stays on monitor to spend $800 million on reclamation for the total yr, inclusive of $600 million allotted to the Yanacocha water therapy vegetation. Further updates on reclamation spend will likely be supplied as accessible.
|
2024 |
2025 |
|||||||||||||||||||||||||
|
Working Outcomes |
Q1 |
Q2 |
Q3 |
This fall |
FY |
Q1 |
Q2 |
Q3 |
This fall |
YTD |
||||||||||||||||
|
Attributable Gross sales (koz) |
||||||||||||||||||||||||||
|
Attributable gold ounces bought (1) |
1,581 |
1,528 |
1,551 |
1,811 |
6,471 |
1,430 |
1,430 |
|||||||||||||||||||
|
Common Realized Worth ($/oz, $/lb) |
||||||||||||||||||||||||||
|
Common realized gold worth |
$ |
2,090 |
$ |
2,347 |
$ |
2,518 |
$ |
2,643 |
$ |
2,408 |
$ |
2,944 |
$ |
2,944 |
||||||||||||
|
Common realized copper worth |
$ |
3.72 |
$ |
4.47 |
$ |
4.31 |
$ |
3.57 |
$ |
4.00 |
$ |
4.65 |
$ |
4.65 |
||||||||||||
|
Common realized silver worth |
$ |
20.41 |
$ |
26.20 |
$ |
25.98 |
$ |
25.15 |
$ |
24.13 |
$ |
30.12 |
$ |
30.12 |
||||||||||||
|
Common realized lead worth |
$ |
0.92 |
$ |
1.05 |
$ |
0.86 |
$ |
0.86 |
$ |
0.91 |
$ |
0.89 |
$ |
0.89 |
||||||||||||
|
Common realized zinc worth |
$ |
0.92 |
$ |
1.31 |
$ |
1.14 |
$ |
1.21 |
$ |
1.14 |
$ |
1.13 |
$ |
1.13 |
||||||||||||
|
Attributable Gold Manufacturing (koz) |
||||||||||||||||||||||||||
|
Boddington |
142 |
147 |
137 |
164 |
590 |
126 |
126 |
|||||||||||||||||||
|
Tanami |
90 |
99 |
102 |
117 |
408 |
78 |
78 |
|||||||||||||||||||
|
Cadia |
122 |
117 |
115 |
110 |
464 |
103 |
103 |
|||||||||||||||||||
|
Lihir |
181 |
141 |
129 |
163 |
614 |
164 |
164 |
|||||||||||||||||||
|
Ahafo |
190 |
184 |
213 |
211 |
798 |
205 |
205 |
|||||||||||||||||||
|
Peñasquito |
45 |
64 |
63 |
127 |
299 |
123 |
123 |
|||||||||||||||||||
|
Cerro Negro |
81 |
19 |
60 |
78 |
238 |
28 |
28 |
|||||||||||||||||||
|
Yanacocha |
91 |
78 |
93 |
92 |
354 |
105 |
105 |
|||||||||||||||||||
|
Merian (75%) |
57 |
46 |
43 |
59 |
205 |
47 |
47 |
|||||||||||||||||||
|
Brucejack |
37 |
60 |
89 |
72 |
258 |
41 |
41 |
|||||||||||||||||||
|
Pink Chris (70%) |
6 |
9 |
9 |
16 |
40 |
14 |
14 |
|||||||||||||||||||
|
Managed Tier 1 Portfolio |
1,042 |
964 |
1,053 |
1,209 |
4,268 |
1,034 |
1,034 |
|||||||||||||||||||
|
Nevada Gold Mines (38.5%) |
264 |
253 |
242 |
280 |
1,039 |
216 |
216 |
|||||||||||||||||||
|
Pueblo Viejo (40%) (2) |
54 |
53 |
66 |
62 |
235 |
49 |
49 |
|||||||||||||||||||
|
Fruta Del Norte (32%) (3) |
21 |
35 |
43 |
39 |
138 |
43 |
43 |
|||||||||||||||||||
|
Non-Managed Tier 1 Portfolio |
339 |
341 |
351 |
381 |
1,412 |
308 |
308 |
|||||||||||||||||||
|
Complete Tier 1 Portfolio |
1,381 |
1,305 |
1,404 |
1,590 |
5,680 |
1,342 |
1,342 |
|||||||||||||||||||
|
Non-Core Belongings (4) |
294 |
302 |
264 |
309 |
1,169 |
195 |
195 |
|||||||||||||||||||
|
Complete Attributable Gold Manufacturing |
1,675 |
1,607 |
1,668 |
1,899 |
6,849 |
1,537 |
1,537 |
|||||||||||||||||||
|
Co-Product Manufacturing |
||||||||||||||||||||||||||
|
Pink Chris copper tonnes (hundreds) |
5 |
6 |
6 |
9 |
26 |
7 |
7 |
|||||||||||||||||||
|
Boddington copper tonnes (hundreds) |
9 |
10 |
9 |
9 |
37 |
7 |
7 |
|||||||||||||||||||
|
Cadia copper tonnes (hundreds) |
21 |
22 |
21 |
23 |
87 |
21 |
21 |
|||||||||||||||||||
|
Telfer copper tonnes (hundreds) (4) |
1 |
— |
1 |
1 |
3 |
— |
— |
|||||||||||||||||||
|
Complete copper tonnes (hundreds) |
36 |
38 |
37 |
42 |
153 |
35 |
35 |
|||||||||||||||||||
|
Peñasquito silver ounces (hundreds of thousands) |
9 |
8 |
7 |
9 |
33 |
6 |
6 |
|||||||||||||||||||
|
Peñasquito lead tonnes (hundreds) |
28 |
20 |
19 |
29 |
96 |
22 |
22 |
|||||||||||||||||||
|
Peñasquito zinc tonnes (hundreds) |
58 |
65 |
58 |
77 |
258 |
59 |
59 |
|||||||||||||||||||
|
Gold Co-Product CAS Consolidated ($/oz) |
||||||||||||||||||||||||||
|
Boddington |
$ |
1,016 |
$ |
1,022 |
$ |
1,098 |
$ |
1,084 |
$ |
1,056 |
$ |
1,239 |
$ |
1,239 |
||||||||||||
|
Tanami |
$ |
902 |
$ |
1,018 |
$ |
979 |
$ |
898 |
$ |
947 |
$ |
1,087 |
$ |
1,087 |
||||||||||||
|
Cadia |
$ |
648 |
$ |
624 |
$ |
723 |
$ |
616 |
$ |
653 |
$ |
794 |
$ |
794 |
||||||||||||
|
Lihir |
$ |
936 |
$ |
1,101 |
$ |
1,619 |
$ |
1,523 |
$ |
1,270 |
$ |
1,009 |
$ |
1,009 |
||||||||||||
|
Ahafo |
$ |
865 |
$ |
976 |
$ |
867 |
$ |
916 |
$ |
904 |
$ |
1,238 |
$ |
1,238 |
||||||||||||
|
Peñasquito |
$ |
853 |
$ |
827 |
$ |
985 |
$ |
630 |
$ |
776 |
$ |
898 |
$ |
898 |
||||||||||||
|
Cerro Negro |
$ |
861 |
$ |
2,506 |
$ |
1,535 |
$ |
1,177 |
$ |
1,325 |
$ |
2,063 |
$ |
2,063 |
||||||||||||
|
Yanacocha |
$ |
972 |
$ |
1,000 |
$ |
1,072 |
$ |
970 |
$ |
1,003 |
$ |
961 |
$ |
961 |
||||||||||||
|
Merian (75%) |
$ |
1,221 |
$ |
1,546 |
$ |
1,795 |
$ |
1,334 |
$ |
1,457 |
$ |
1,497 |
$ |
1,497 |
||||||||||||
|
Brucejack |
$ |
2,175 |
$ |
1,390 |
$ |
970 |
$ |
1,126 |
$ |
1,254 |
$ |
1,800 |
$ |
1,800 |
||||||||||||
|
Pink Chris (70%) |
$ |
940 |
$ |
951 |
$ |
2,228 |
$ |
901 |
$ |
1,225 |
$ |
1,106 |
$ |
1,106 |
||||||||||||
|
Managed Tier 1 Portfolio |
$ |
955 |
$ |
1,053 |
$ |
1,117 |
$ |
1,021 |
$ |
1,036 |
$ |
1,150 |
$ |
1,150 |
||||||||||||
|
Nevada Gold Mines (38.5%) |
$ |
1,177 |
$ |
1,220 |
$ |
1,311 |
$ |
1,177 |
$ |
1,219 |
$ |
1,426 |
$ |
1,426 |
||||||||||||
|
Non-Managed Tier 1 Portfolio |
$ |
1,177 |
$ |
1,220 |
$ |
1,311 |
$ |
1,177 |
$ |
1,219 |
$ |
1,426 |
$ |
1,426 |
||||||||||||
|
Complete Tier 1 Portfolio |
$ |
1,000 |
$ |
1,087 |
$ |
1,153 |
$ |
1,050 |
$ |
1,071 |
$ |
1,198 |
$ |
1,198 |
||||||||||||
|
Non-Core Belongings (4) |
$ |
1,306 |
$ |
1,398 |
$ |
1,474 |
$ |
1,316 |
$ |
1,370 |
$ |
1,410 |
$ |
1,410 |
||||||||||||
|
Complete Gold co-product CAS (5) |
$ |
1,057 |
$ |
1,152 |
$ |
1,207 |
$ |
1,096 |
$ |
1,126 |
$ |
1,227 |
$ |
1,227 |
||||||||||||
|
Gold By-Product CAS ($/oz) |
||||||||||||||||||||||||||
|
Pink Chris |
$ |
(1,143 |
) |
$ |
(2,556 |
) |
$ |
5,125 |
$ |
(1,333 |
) |
$ |
(256 |
) |
$ |
(1,200 |
) |
$ |
(1,200 |
) |
||||||
|
Boddington |
$ |
810 |
$ |
750 |
$ |
863 |
$ |
916 |
$ |
840 |
$ |
970 |
$ |
970 |
||||||||||||
|
Cadia |
$ |
(228 |
) |
$ |
(626 |
) |
$ |
(398 |
) |
$ |
(173 |
) |
$ |
(366 |
) |
$ |
(643 |
) |
$ |
(643 |
) |
|||||
|
Peñasquito |
$ |
(2,091 |
) |
$ |
(2,047 |
) |
$ |
(1,036 |
) |
$ |
(1,587 |
) |
$ |
(1,659 |
) |
$ |
(949 |
) |
$ |
(949 |
) |
|||||
|
Complete Gold by-product CAS (5) |
$ |
891 |
$ |
892 |
$ |
1,052 |
$ |
862 |
$ |
922 |
$ |
930 |
$ |
930 |
||||||||||||
|
2024 |
2025 |
||||||||||||||||||||||||
|
Working Outcomes (continued) |
Q1 |
Q2 |
Q3 |
This fall |
FY |
Q1 |
Q2 |
Q3 |
This fall |
YTD |
|||||||||||||||
|
Co-Product CAS ($/unit) |
|||||||||||||||||||||||||
|
Pink Chris – copper ($/tonne) |
$ |
5,571 |
$ |
5,043 |
$ |
12,296 |
$ |
4,645 |
$ |
6,663 |
$ |
4,991 |
$ |
4,991 |
|||||||||||
|
Boddington – copper ($/tonne) |
$ |
5,192 |
$ |
5,680 |
$ |
5,605 |
$ |
5,477 |
$ |
5,480 |
$ |
5,423 |
$ |
5,423 |
|||||||||||
|
Cadia – copper ($/tonne) |
$ |
3,271 |
$ |
3,044 |
$ |
3,774 |
$ |
3,209 |
$ |
3,321 |
$ |
3,468 |
$ |
3,468 |
|||||||||||
|
Telfer – copper ($/tonne) (4) |
$ |
15,885 |
$ |
10,692 |
N.M. |
$ |
8,582 |
$ |
13,214 |
$ |
— |
$ |
— |
||||||||||||
|
Complete – copper ($/tonne) |
$ |
4,452 |
$ |
4,184 |
$ |
5,748 |
$ |
4,247 |
$ |
4,625 |
$ |
4,182 |
$ |
4,182 |
|||||||||||
|
Peñasquito- silver ($/ounce) |
$ |
11 |
$ |
12 |
$ |
13 |
$ |
8 |
$ |
11 |
$ |
10 |
$ |
10 |
|||||||||||
|
Peñasquito – lead ($/tonne) |
$ |
1,215 |
$ |
1,355 |
$ |
1,555 |
$ |
904 |
$ |
1,201 |
$ |
997 |
$ |
997 |
|||||||||||
|
Peñasquito – zinc ($/tonne) |
$ |
1,764 |
$ |
1,867 |
$ |
1,944 |
$ |
1,429 |
$ |
1,729 |
$ |
1,499 |
$ |
1,499 |
|||||||||||
|
Gold Co-Product AISC Consolidated ($/oz) |
|||||||||||||||||||||||||
|
Boddington |
$ |
1,242 |
$ |
1,237 |
$ |
1,398 |
$ |
1,286 |
$ |
1,288 |
$ |
1,544 |
$ |
1,544 |
|||||||||||
|
Tanami |
$ |
1,149 |
$ |
1,276 |
$ |
1,334 |
$ |
1,340 |
$ |
1,281 |
$ |
1,659 |
$ |
1,659 |
|||||||||||
|
Cadia |
$ |
989 |
$ |
1,064 |
$ |
1,078 |
$ |
1,061 |
$ |
1,048 |
$ |
1,184 |
$ |
1,184 |
|||||||||||
|
Lihir |
$ |
1,256 |
$ |
1,212 |
$ |
1,883 |
$ |
1,781 |
$ |
1,512 |
$ |
1,339 |
$ |
1,339 |
|||||||||||
|
Ahafo |
$ |
1,010 |
$ |
1,123 |
$ |
1,043 |
$ |
1,113 |
$ |
1,072 |
$ |
1,462 |
$ |
1,462 |
|||||||||||
|
Peñasquito |
$ |
1,079 |
$ |
1,038 |
$ |
1,224 |
$ |
818 |
$ |
984 |
$ |
1,091 |
$ |
1,091 |
|||||||||||
|
Cerro Negro |
$ |
1,120 |
$ |
3,010 |
$ |
1,878 |
$ |
1,430 |
$ |
1,631 |
$ |
2,857 |
$ |
2,857 |
|||||||||||
|
Yanacocha |
$ |
1,123 |
$ |
1,217 |
$ |
1,285 |
$ |
1,166 |
$ |
1,196 |
$ |
1,170 |
$ |
1,170 |
|||||||||||
|
Merian (75%) |
$ |
1,530 |
$ |
2,170 |
$ |
2,153 |
$ |
1,656 |
$ |
1,852 |
$ |
1,864 |
$ |
1,864 |
|||||||||||
|
Brucejack |
$ |
2,580 |
$ |
1,929 |
$ |
1,197 |
$ |
1,498 |
$ |
1,603 |
$ |
2,230 |
$ |
2,230 |
|||||||||||
|
Pink Chris (70%) |
$ |
1,277 |
$ |
1,613 |
$ |
2,633 |
$ |
1,131 |
$ |
1,607 |
$ |
1,322 |
$ |
1,322 |
|||||||||||
|
Managed Tier 1 Portfolio |
$ |
1,327 |
$ |
1,461 |
$ |
1,509 |
$ |
1,411 |
$ |
1,426 |
$ |
1,596 |
$ |
1,596 |
|||||||||||
|
Nevada Gold Mines (38.5%) |
$ |
1,576 |
$ |
1,689 |
$ |
1,675 |
$ |
1,492 |
$ |
1,605 |
$ |
1,789 |
$ |
1,789 |
|||||||||||
|
Non-Managed Tier 1 Portfolio |
$ |
1,576 |
$ |
1,689 |
$ |
1,675 |
$ |
1,492 |
$ |
1,605 |
$ |
1,789 |
$ |
1,789 |
|||||||||||
|
Tier 1 Portfolio |
$ |
1,378 |
$ |
1,508 |
$ |
1,540 |
$ |
1,425 |
$ |
1,461 |
$ |
1,630 |
$ |
1,630 |
|||||||||||
|
Non-Core Belongings (4) |
$ |
1,712 |
$ |
1,770 |
$ |
1,967 |
$ |
1,634 |
$ |
1,762 |
$ |
1,787 |
$ |
1,787 |
|||||||||||
|
Complete Gold co-product AISC (5) |
$ |
1,439 |
$ |
1,562 |
$ |
1,611 |
$ |
1,463 |
$ |
1,516 |
$ |
1,651 |
$ |
1,651 |
|||||||||||
|
Gold By-Product AISC ($/oz) |
|||||||||||||||||||||||||
|
Pink Chris |
$ |
857 |
$ |
778 |
$ |
7,250 |
$ |
(333 |
) |
$ |
1,692 |
$ |
(467 |
) |
$ |
(467 |
) |
||||||||
|
Boddington |
$ |
1,085 |
$ |
1,044 |
$ |
1,226 |
$ |
1,179 |
$ |
1,134 |
$ |
1,348 |
$ |
1,348 |
|||||||||||
|
Cadia |
$ |
535 |
$ |
293 |
$ |
159 |
$ |
750 |
$ |
425 |
$ |
133 |
$ |
133 |
|||||||||||
|
Peñasquito |
$ |
(91 |
) |
$ |
(859 |
) |
$ |
411 |
$ |
(810 |
) |
$ |
(476 |
) |
$ |
(254 |
) |
$ |
(254 |
) |
|||||
|
Complete Gold by-product AISC (5) |
$ |
1,373 |
$ |
1,412 |
$ |
1,542 |
$ |
1,319 |
$ |
1,408 |
$ |
1,447 |
$ |
1,447 |
|||||||||||
|
Co-Product AISC ($/unit) |
|||||||||||||||||||||||||
|
Pink Chris – copper ($/tonne) |
$ |
7,718 |
$ |
8,599 |
$ |
14,960 |
$ |
6,007 |
$ |
9,037 |
$ |
6,053 |
$ |
6,053 |
|||||||||||
|
Boddington – copper ($/tonne) |
$ |
5,959 |
$ |
6,914 |
$ |
6,436 |
$ |
6,545 |
$ |
6,462 |
$ |
6,760 |
$ |
6,760 |
|||||||||||
|
Cadia – copper ($/tonne) |
$ |
5,659 |
$ |
5,644 |
$ |
4,849 |
$ |
5,612 |
$ |
5,442 |
$ |
5,316 |
$ |
5,316 |
|||||||||||
|
Telfer – copper ($/tonne) (4) |
$ |
20,643 |
$ |
15,112 |
N.M. |
$ |
5,106 |
$ |
15,903 |
$ |
— |
$ |
— |
||||||||||||
|
Complete – copper ($/tonne) |
$ |
6,392 |
$ |
6,675 |
$ |
7,423 |
$ |
6,162 |
$ |
6,638 |
$ |
6,014 |
$ |
6,014 |
|||||||||||
|
Peñasquito – silver ($/ounce) |
$ |
15 |
$ |
15 |
$ |
17 |
$ |
11 |
$ |
14 |
$ |
13 |
$ |
13 |
|||||||||||
|
Peñasquito – lead ($/tonne) |
$ |
1,500 |
$ |
1,601 |
$ |
1,879 |
$ |
1,132 |
$ |
1,467 |
$ |
1,185 |
$ |
1,185 |
|||||||||||
|
Peñasquito – zinc ($/tonne) |
$ |
2,368 |
$ |
2,498 |
$ |
2,614 |
$ |
2,015 |
$ |
2,350 |
$ |
2,026 |
$ |
2,026 |
|||||||||||
|
(1) |
Attributable gold ounces bought excludes ounces associated to the Pueblo Viejo mine, which is 40% owned by Newmont and accounted for as an fairness technique funding, and the Fruta del Norte mine, which is wholly owned by Lundin Gold, wherein the Firm holds a 32% curiosity and is accounted for as an fairness technique funding. |
|
|
(2) |
Represents attributable gold from Newmont’s 40% curiosity in Pueblo Viejo, which is accounted for as an fairness technique funding. Attributable gold ounces produced at Pueblo Viejo usually are not included in attributable gold ounces bought, as famous in footnote (1). Revenue and bills of fairness technique investments are included in Fairness earnings (loss) of associates . |
|
|
(3) |
Represents attributable gold from Newmont’s 32% curiosity in Lundin Gold, which wholly owns and operates the Fruta del Norte mine and is accounted for on a quarterly lag as an fairness technique funding. Attributable gold ounces produced by Lundin Gold symbolize prior quarter manufacturing and usually are not included in attributable gold ounces bought, as famous in footnote (1). Revenue and bills of fairness technique investments are included in Fairness earnings (loss) of associates . |
|
|
(4) |
Non-core property embody the Akyem and Porcupine property held on the market at March 31, 2025 and asset divestitures which closed previous to March 31, 2025 together with: Telfer, CC&V, Musselwhite, and Éléonore. See Divestiture Program Replace on this launch for additional particulars. |
|
|
(5) |
Non-GAAP measure. See finish of this launch for reconciliation. |
|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited, in hundreds of thousands besides per share) |
|||||||||||||||||||||||||||||||||
|
2024 (1 ) |
2025 (1 ) |
||||||||||||||||||||||||||||||||
|
Q1 |
Q2 |
Q3 |
This fall |
FY |
Q1 |
Q2 |
Q3 |
This fall |
YTD |
||||||||||||||||||||||||
|
Gross sales |
$ |
4,023 |
$ |
4,402 |
$ |
4,605 |
$ |
5,652 |
$ |
18,682 |
$ |
5,010 |
$ |
5,010 |
|||||||||||||||||||
|
Prices and bills: |
|||||||||||||||||||||||||||||||||
|
Prices relevant to gross sales (2) |
2,106 |
2,156 |
2,310 |
2,391 |
8,963 |
2,106 |
2,106 |
||||||||||||||||||||||||||
|
Depreciation and amortization |
654 |
602 |
631 |
689 |
2,576 |
593 |
593 |
||||||||||||||||||||||||||
|
Reclamation and remediation |
98 |
94 |
132 |
4 |
328 |
93 |
93 |
||||||||||||||||||||||||||
|
Exploration |
53 |
57 |
74 |
82 |
266 |
49 |
49 |
||||||||||||||||||||||||||
|
Superior tasks, analysis and improvement |
53 |
49 |
47 |
48 |
197 |
43 |
43 |
||||||||||||||||||||||||||
|
Normal and administrative |
101 |
100 |
113 |
128 |
442 |
110 |
110 |
||||||||||||||||||||||||||
|
(Achieve) loss on sale of property held on the market |
485 |
246 |
115 |
268 |
1,114 |
(276 |
) |
(276 |
) |
||||||||||||||||||||||||
|
Impairment costs |
12 |
9 |
18 |
39 |
78 |
15 |
15 |
||||||||||||||||||||||||||
|
Different expense, web |
61 |
50 |
37 |
43 |
191 |
28 |
28 |
||||||||||||||||||||||||||
|
3,623 |
3,363 |
3,477 |
3,692 |
14,155 |
2,761 |
2,761 |
|||||||||||||||||||||||||||
|
Different earnings (expense): |
|||||||||||||||||||||||||||||||||
|
Change in honest worth of investments and choices |
31 |
(9 |
) |
17 |
23 |
62 |
291 |
291 |
|||||||||||||||||||||||||
|
Different earnings (loss), web |
90 |
109 |
— |
164 |
363 |
10 |
10 |
||||||||||||||||||||||||||
|
Curiosity expense, web of capitalized curiosity |
(93 |
) |
(103 |
) |
(86 |
) |
(93 |
) |
(375 |
) |
(79 |
) |
(79 |
) |
|||||||||||||||||||
|
28 |
(3 |
) |
(69 |
) |
94 |
50 |
222 |
222 |
|||||||||||||||||||||||||
|
Revenue (loss) earlier than earnings and mining tax and different objects |
428 |
1,036 |
1,059 |
2,054 |
4,577 |
2,471 |
2,471 |
||||||||||||||||||||||||||
|
Revenue and mining tax profit (expense) |
(260 |
) |
(191 |
) |
(244 |
) |
(702 |
) |
(1,397 |
) |
(647 |
) |
(647 |
) |
|||||||||||||||||||
|
Fairness earnings (loss) of associates |
7 |
(3 |
) |
60 |
69 |
133 |
78 |
78 |
|||||||||||||||||||||||||
|
Internet earnings (loss) from persevering with operations |
175 |
842 |
875 |
1,421 |
3,313 |
1,902 |
1,902 |
||||||||||||||||||||||||||
|
Internet earnings (loss) from discontinued operations |
4 |
15 |
49 |
— |
68 |
— |
— |
||||||||||||||||||||||||||
|
Internet earnings (loss) |
179 |
857 |
924 |
1,421 |
3,381 |
1,902 |
1,902 |
||||||||||||||||||||||||||
|
Internet loss (earnings) attributable to noncontrolling pursuits (3) |
(9 |
) |
(4 |
) |
(2 |
) |
(18 |
) |
(33 |
) |
(11 |
) |
(11 |
) |
|||||||||||||||||||
|
Internet earnings (loss) attributable to Newmont stockholders |
$ |
170 |
$ |
853 |
$ |
922 |
$ |
1,403 |
$ |
3,348 |
$ |
1,891 |
$ |
1,891 |
|||||||||||||||||||
|
Internet earnings (loss) attributable to Newmont stockholders: |
|||||||||||||||||||||||||||||||||
|
Persevering with operations |
$ |
166 |
$ |
838 |
$ |
873 |
$ |
1,403 |
$ |
3,280 |
$ |
1,891 |
$ |
1,891 |
|||||||||||||||||||
|
Discontinued operations |
4 |
15 |
49 |
— |
68 |
— |
— |
||||||||||||||||||||||||||
|
$ |
170 |
$ |
853 |
$ |
922 |
$ |
1,403 |
$ |
3,348 |
$ |
1,891 |
$ |
1,891 |
||||||||||||||||||||
|
Weighted common widespread shares (hundreds of thousands): |
|||||||||||||||||||||||||||||||||
|
Primary |
1,153 |
1,153 |
1,147 |
1,133 |
1,146 |
1,126 |
1,126 |
||||||||||||||||||||||||||
|
Impact of worker stock-based awards |
— |
2 |
2 |
2 |
2 |
1 |
1 |
||||||||||||||||||||||||||
|
Diluted |
1,153 |
1,155 |
1,149 |
1,135 |
1,148 |
1,127 |
1,127 |
||||||||||||||||||||||||||
|
Internet earnings (loss) attributable to Newmont stockholders per widespread share: |
|||||||||||||||||||||||||||||||||
|
Primary: |
|||||||||||||||||||||||||||||||||
|
Persevering with operations |
$ |
0.15 |
$ |
0.73 |
$ |
0.76 |
$ |
1.24 |
$ |
2.86 |
$ |
1.68 |
$ |
1.68 |
|||||||||||||||||||
|
Discontinued operations |
— |
0.01 |
0.04 |
— |
0.06 |
— |
— |
||||||||||||||||||||||||||
|
$ |
0.15 |
$ |
0.74 |
$ |
0.80 |
$ |
1.24 |
$ |
2.92 |
$ |
1.68 |
$ |
1.68 |
||||||||||||||||||||
|
Diluted: |
|||||||||||||||||||||||||||||||||
|
Persevering with operations |
$ |
0.15 |
$ |
0.73 |
$ |
0.76 |
$ |
1.24 |
$ |
2.86 |
$ |
1.68 |
$ |
1.68 |
|||||||||||||||||||
|
Discontinued operations |
— |
0.01 |
0.04 |
— |
0.06 |
— |
— |
||||||||||||||||||||||||||
|
$ |
0.15 |
$ |
0.74 |
$ |
0.80 |
$ |
1.24 |
$ |
2.92 |
$ |
1.68 |
$ |
1.68 |
||||||||||||||||||||
|
(1) |
Sure quantities have been reclassified to evolve to the present presentation. |
||||||||||||||||||||||||||||||||||
|
(2) |
Excludes Depreciation and amortization and Reclamation and remediation . |
||||||||||||||||||||||||||||||||||
|
(3) |
Pertains to the Suriname Gold challenge C.V. (“Merian”) reportable section. |
||||||||||||||||||||||||||||||||||
|
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited, in hundreds of thousands) |
||||||||||||||||||||||||||
|
2024 (1) |
2025 (1) |
|||||||||||||||||||||||||
|
MAR |
JUN |
SEP |
DEC |
MAR |
JUN |
SEP |
DEC |
|||||||||||||||||||
|
ASSETS |
||||||||||||||||||||||||||
|
Money and money equivalents |
$ |
2,336 |
$ |
2,602 |
$ |
3,016 |
$ |
3,619 |
$ |
4,698 |
||||||||||||||||
|
Commerce receivables |
782 |
955 |
974 |
1,056 |
887 |
|||||||||||||||||||||
|
Investments |
23 |
50 |
43 |
21 |
18 |
|||||||||||||||||||||
|
Inventories |
1,385 |
1,467 |
1,487 |
1,423 |
1,493 |
|||||||||||||||||||||
|
Stockpiles and ore on leach pads |
745 |
681 |
688 |
761 |
792 |
|||||||||||||||||||||
|
By-product property |
114 |
71 |
42 |
— |
20 |
|||||||||||||||||||||
|
Different present property |
765 |
874 |
753 |
786 |
633 |
|||||||||||||||||||||
|
Belongings held on the market |
5,656 |
5,370 |
5,574 |
4,609 |
2,199 |
|||||||||||||||||||||
|
Present property |
11,806 |
12,070 |
12,577 |
12,275 |
10,740 |
|||||||||||||||||||||
|
Property, plant and mine improvement, web |
33,564 |
33,655 |
33,697 |
33,547 |
33,568 |
|||||||||||||||||||||
|
Investments |
4,138 |
4,141 |
4,150 |
4,471 |
4,856 |
|||||||||||||||||||||
|
Stockpiles and ore on leach pads |
1,837 |
2,002 |
2,114 |
2,266 |
2,409 |
|||||||||||||||||||||
|
Deferred earnings tax property |
210 |
273 |
229 |
124 |
59 |
|||||||||||||||||||||
|
Goodwill |
2,792 |
2,792 |
2,721 |
2,658 |
2,658 |
|||||||||||||||||||||
|
By-product property |
412 |
181 |
161 |
142 |
344 |
|||||||||||||||||||||
|
Different non-current property |
576 |
564 |
526 |
866 |
885 |
|||||||||||||||||||||
|
Complete property |
$ |
55,335 |
$ |
55,678 |
$ |
56,175 |
$ |
56,349 |
$ |
55,519 |
||||||||||||||||
|
LIABILITIES |
||||||||||||||||||||||||||
|
Accounts payable |
$ |
698 |
$ |
683 |
$ |
772 |
$ |
843 |
$ |
771 |
||||||||||||||||
|
Worker-related advantages |
414 |
457 |
542 |
630 |
502 |
|||||||||||||||||||||
|
Revenue and mining taxes payable |
136 |
264 |
317 |
381 |
378 |
|||||||||||||||||||||
|
Lease and different financing obligations |
99 |
104 |
112 |
107 |
109 |
|||||||||||||||||||||
|
Debt |
— |
— |
— |
924 |
— |
|||||||||||||||||||||
|
Different present liabilities |
1,784 |
1,819 |
2,081 |
2,481 |
2,357 |
|||||||||||||||||||||
|
Liabilities held on the market |
2,351 |
2,405 |
2,584 |
2,177 |
1,309 |
|||||||||||||||||||||
|
Present liabilities |
5,482 |
5,732 |
6,408 |
7,543 |
5,426 |
|||||||||||||||||||||
|
Debt |
8,933 |
8,692 |
8,550 |
7,552 |
7,507 |
|||||||||||||||||||||
|
Lease and different financing obligations |
436 |
429 |
437 |
389 |
370 |
|||||||||||||||||||||
|
Reclamation and remediation liabilities |
6,652 |
6,620 |
6,410 |
6,394 |
6,376 |
|||||||||||||||||||||
|
Deferred earnings tax liabilities |
3,094 |
3,046 |
2,883 |
2,820 |
2,733 |
|||||||||||||||||||||
|
Worker-related advantages |
610 |
616 |
632 |
555 |
575 |
|||||||||||||||||||||
|
Silver streaming settlement |
753 |
733 |
721 |
699 |
671 |
|||||||||||||||||||||
|
Different non-current liabilities |
300 |
247 |
238 |
288 |
430 |
|||||||||||||||||||||
|
Complete liabilities |
26,260 |
26,115 |
26,279 |
26,240 |
24,088 |
|||||||||||||||||||||
|
EQUITY |
||||||||||||||||||||||||||
|
Frequent inventory |
1,855 |
1,851 |
1,840 |
1,813 |
1,803 |
|||||||||||||||||||||
|
Treasury inventory |
(274 |
) |
(274 |
) |
(276 |
) |
(278 |
) |
(293 |
) |
||||||||||||||||
|
Further paid-in capital |
30,436 |
30,394 |
30,228 |
29,808 |
29,624 |
|||||||||||||||||||||
|
Gathered different complete earnings (loss) |
(16 |
) |
(7 |
) |
21 |
(95 |
) |
(39 |
) |
|||||||||||||||||
|
Retained earnings (Gathered deficit) |
(3,111 |
) |
(2,585 |
) |
(2,101 |
) |
(1,320 |
) |
153 |
|||||||||||||||||
|
Newmont stockholders’ fairness |
28,890 |
29,379 |
29,712 |
29,928 |
31,248 |
|||||||||||||||||||||
|
Noncontrolling pursuits |
185 |
184 |
184 |
181 |
183 |
|||||||||||||||||||||
|
Complete fairness |
29,075 |
29,563 |
29,896 |
30,109 |
31,431 |
|||||||||||||||||||||
|
Complete liabilities and fairness |
$ |
55,335 |
$ |
55,678 |
$ |
56,175 |
$ |
56,349 |
$ |
55,519 |
||||||||||||||||
| (1) |
Sure quantities have been reclassified to evolve to the present presentation. |
||||||||||||||||||||||||||
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited, in hundreds of thousands) |
|||||||||||||||||||||||||||||||||
|
2024 (1) |
2025 (1) |
||||||||||||||||||||||||||||||||
|
Q1 |
Q2 |
Q3 |
This fall |
FY |
Q1 |
Q2 |
Q3 |
This fall |
YTD |
||||||||||||||||||||||||
|
Working actions: |
|||||||||||||||||||||||||||||||||
|
Internet earnings (loss) |
$ |
179 |
$ |
857 |
$ |
924 |
$ |
1,421 |
$ |
3,381 |
$ |
1,902 |
$ |
1,902 |
|||||||||||||||||||
|
Non-cash changes: |
|||||||||||||||||||||||||||||||||
|
Depreciation and amortization |
654 |
602 |
631 |
689 |
2,576 |
593 |
593 |
||||||||||||||||||||||||||
|
(Achieve) loss on sale of property held on the market |
485 |
246 |
115 |
268 |
1,114 |
(276 |
) |
(276 |
) |
||||||||||||||||||||||||
|
Change in honest worth of investments and choices |
(31 |
) |
9 |
(17 |
) |
(23 |
) |
(62 |
) |
(291 |
) |
(291 |
) |
||||||||||||||||||||
|
Internet loss (earnings) from discontinued operations |
(4 |
) |
(15 |
) |
(49 |
) |
— |
(68 |
) |
— |
— |
||||||||||||||||||||||
|
Deferred earnings taxes |
53 |
(95 |
) |
7 |
115 |
80 |
125 |
125 |
|||||||||||||||||||||||||
|
Reclamation and remediation |
94 |
88 |
124 |
(4 |
) |
302 |
89 |
89 |
|||||||||||||||||||||||||
|
Inventory-based compensation |
21 |
23 |
22 |
23 |
89 |
21 |
21 |
||||||||||||||||||||||||||
|
(Achieve) loss on asset and funding gross sales |
(9 |
) |
(55 |
) |
28 |
1 |
(35 |
) |
5 |
5 |
|||||||||||||||||||||||
|
Impairment costs |
12 |
9 |
18 |
39 |
78 |
15 |
15 |
||||||||||||||||||||||||||
|
Different non-cash changes |
(12 |
) |
(12 |
) |
43 |
(131 |
) |
(112 |
) |
(11 |
) |
(11 |
) |
||||||||||||||||||||
|
Money from operations earlier than working capital (2) |
1,442 |
1,657 |
1,846 |
2,398 |
7,343 |
2,172 |
2,172 |
||||||||||||||||||||||||||
|
Change in working property and liabilities: |
|||||||||||||||||||||||||||||||||
|
Accounts receivable |
(84 |
) |
(140 |
) |
(83 |
) |
(134 |
) |
(441 |
) |
228 |
228 |
|||||||||||||||||||||
|
Inventories, stockpiles and ore on leach pads |
(193 |
) |
(185 |
) |
(202 |
) |
46 |
(534 |
) |
(175 |
) |
(175 |
) |
||||||||||||||||||||
|
Different property |
(7 |
) |
63 |
7 |
1 |
64 |
(9 |
) |
(9 |
) |
|||||||||||||||||||||||
|
Accounts payable |
(91 |
) |
(32 |
) |
69 |
52 |
(2 |
) |
(69 |
) |
(69 |
) |
|||||||||||||||||||||
|
Reclamation and remediation liabilities |
(59 |
) |
(107 |
) |
(107 |
) |
(160 |
) |
(433 |
) |
(95 |
) |
(95 |
) |
|||||||||||||||||||
|
Accrued tax liabilities (3) |
90 |
52 |
(60 |
) |
153 |
235 |
91 |
91 |
|||||||||||||||||||||||||
|
Different accrued liabilities |
(322 |
) |
86 |
167 |
155 |
86 |
(112 |
) |
(112 |
) |
|||||||||||||||||||||||
|
Internet change in working property and liabilities |
(666 |
) |
(263 |
) |
(209 |
) |
113 |
(1,025 |
) |
(141 |
) |
(141 |
) |
||||||||||||||||||||
|
Internet money supplied by (utilized in) working actions of continuous operations |
776 |
1,394 |
1,637 |
2,511 |
6,318 |
2,031 |
2,031 |
||||||||||||||||||||||||||
|
Internet money supplied by (utilized in) working actions of discontinued operations |
— |
34 |
11 |
— |
45 |
— |
— |
||||||||||||||||||||||||||
|
Internet money supplied by (utilized in) working actions |
776 |
1,428 |
1,648 |
2,511 |
6,363 |
2,031 |
2,031 |
||||||||||||||||||||||||||
|
Investing actions: |
|
|
|||||||||||||||||||||||||||||||
|
Proceeds from gross sales of mining operations and different property, web |
— |
180 |
150 |
230 |
560 |
1,684 |
1,684 |
||||||||||||||||||||||||||
|
Additions to property, plant and mine improvement |
(850 |
) |
(800 |
) |
(877 |
) |
(875 |
) |
(3,402 |
) |
(826 |
) |
(826 |
) |
|||||||||||||||||||
|
Contributions to fairness technique investees |
(15 |
) |
(5 |
) |
(15 |
) |
(61 |
) |
(96 |
) |
(31 |
) |
(31 |
) |
|||||||||||||||||||
|
Return of funding from fairness technique investees |
25 |
16 |
14 |
1 |
56 |
20 |
20 |
||||||||||||||||||||||||||
|
Proceeds from gross sales of funding |
3 |
9 |
3 |
6 |
21 |
7 |
7 |
||||||||||||||||||||||||||
|
Purchases of investments |
— |
(60 |
) |
(2 |
) |
(4 |
) |
(66 |
) |
(1 |
) |
(1 |
) |
||||||||||||||||||||
|
Maturities of investments |
— |
— |
28 |
— |
28 |
— |
— |
||||||||||||||||||||||||||
|
Different |
39 |
19 |
(16 |
) |
2 |
44 |
(115 |
) |
(115 |
) |
|||||||||||||||||||||||
|
Internet money supplied by (utilized in) investing actions of continuous operations |
(798 |
) |
(641 |
) |
(715 |
) |
(701 |
) |
(2,855 |
) |
738 |
738 |
|||||||||||||||||||||
|
Internet money supplied by (utilized in) investing actions of discontinued operations |
— |
— |
153 |
— |
153 |
— |
— |
||||||||||||||||||||||||||
|
Internet money supplied by (utilized in) investing actions |
(798 |
) |
(641 |
) |
(562 |
) |
(701 |
) |
(2,702 |
) |
738 |
738 |
|||||||||||||||||||||
|
Financing actions: |
|||||||||||||||||||||||||||||||||
|
Compensation of debt |
(3,423 |
) |
(227 |
) |
(133 |
) |
(77 |
) |
(3,860 |
) |
(985 |
) |
(985 |
) |
|||||||||||||||||||
|
Repurchases of widespread inventory |
— |
(104 |
) |
(344 |
) |
(798 |
) |
(1,246 |
) |
(348 |
) |
(348 |
) |
||||||||||||||||||||
|
Dividends paid to widespread stockholders |
(288 |
) |
(289 |
) |
(286 |
) |
(282 |
) |
(1,145 |
) |
(282 |
) |
(282 |
) |
|||||||||||||||||||
|
Distributions to noncontrolling pursuits |
(41 |
) |
(36 |
) |
(36 |
) |
(48 |
) |
(161 |
) |
(44 |
) |
(44 |
) |
|||||||||||||||||||
|
Funding from noncontrolling pursuits |
22 |
31 |
34 |
28 |
115 |
39 |
39 |
||||||||||||||||||||||||||
|
Funds on lease and different financing obligations |
(18 |
) |
(22 |
) |
(22 |
) |
(25 |
) |
(87 |
) |
(23 |
) |
(23 |
) |
|||||||||||||||||||
|
Funds for withholding of worker taxes associated to stock-based compensation |
(10 |
) |
— |
(2 |
) |
(2 |
) |
(14 |
) |
(15 |
) |
(15 |
) |
||||||||||||||||||||
|
Proceeds from issuance of debt, web |
3,476 |
— |
— |
— |
3,476 |
— |
— |
||||||||||||||||||||||||||
|
Different |
(17 |
) |
(11 |
) |
— |
(3 |
) |
(31 |
) |
(4 |
) |
(4 |
) |
||||||||||||||||||||
|
Internet money supplied by (utilized in) financing actions |
(299 |
) |
(658 |
) |
(789 |
) |
(1,207 |
) |
(2,953 |
) |
(1,662 |
) |
(1,662 |
) |
|||||||||||||||||||
|
Impact of trade fee adjustments on money, money equivalents and restricted money |
(3 |
) |
(11 |
) |
(1 |
) |
(5 |
) |
(20 |
) |
(5 |
) |
(5 |
) |
|||||||||||||||||||
|
Internet change in money, money equivalents and restricted money, together with money and restricted money reclassified to property held on the market |
(324 |
) |
118 |
296 |
598 |
688 |
1,102 |
1,102 |
|||||||||||||||||||||||||
|
Much less: change in money and restricted money reclassified to property held on the market (4) |
(395 |
) |
137 |
118 |
2 |
(138 |
) |
(22 |
) |
(22 |
) |
||||||||||||||||||||||
|
Internet change in money, money equivalents and restricted money |
(719 |
) |
255 |
414 |
600 |
550 |
1,080 |
1,080 |
|||||||||||||||||||||||||
|
Money, money equivalents and restricted money at starting of interval |
3,100 |
2,381 |
2,636 |
3,050 |
3,100 |
3,650 |
3,650 |
||||||||||||||||||||||||||
|
Money, money equivalents and restricted money at finish of interval |
$ |
2,381 |
$ |
2,636 |
$ |
3,050 |
$ |
3,650 |
$ |
3,650 |
$ |
4,730 |
$ |
4,730 |
|||||||||||||||||||
|
Reconciliation of money, money equivalents and restricted money: |
|
||||||||||||||||||||||||||||||||
|
Money and money equivalents |
$ |
2,336 |
$ |
2,602 |
$ |
3,016 |
$ |
3,619 |
$ |
3,619 |
$ |
4,698 |
$ |
4,698 |
|||||||||||||||||||
|
Restricted money included in Different present property |
6 |
6 |
3 |
1 |
1 |
1 |
1 |
||||||||||||||||||||||||||
|
Restricted money included in Different non-current property |
39 |
28 |
31 |
30 |
30 |
31 |
31 |
||||||||||||||||||||||||||
|
Complete money, money equivalents and restricted money |
$ |
2,381 |
$ |
2,636 |
$ |
3,050 |
$ |
3,650 |
$ |
3,650 |
$ |
4,730 |
$ |
4,730 |
|||||||||||||||||||
|
(1) |
Sure quantities and disclosures within the prior yr have been reclassified to evolve to the present yr presentation. |
||||||||||||||||||||||||||||||||||
|
(2) |
Money from operations earlier than working capital is a non-GAAP metric with probably the most straight comparable GAAP monetary metric being to Internet money supplied by (utilized in) working actions, as proven reconciled above. |
||||||||||||||||||||||||||||||||||
|
(3) |
Money funds for earnings and mining taxes, web of refunds, of $966 for the yr ended December 31, 2024 is comprised of $96, $208, $254, and $408 for the primary, second, third, and fourth quarter, respectively. Money funds for earnings and mining taxes, web of refunds, for the three months ended March 31, 2025 is $465. |
||||||||||||||||||||||||||||||||||
|
(4) |
Through the first quarter of 2024, sure non-core property had been decided to fulfill the factors for property held on the market. Consequently, the associated property, together with Money and money equivalents and restricted money, included in Different present property and Different non-current property , had been reclassified to Belongings held on the market . Discuss with Notice 3 to the Condensed Consolidated Monetary Statements for added info. |
||||||||||||||||||||||||||||||||||
Non-GAAP Monetary Measures ({dollars} in hundreds of thousands, besides per share, per ounce and per pound quantities, until in any other case famous)
Non-GAAP monetary measures are supposed to supply further info solely and should not have any commonplace that means prescribed by GAAP. These measures shouldn’t be thought-about in isolation or as an alternative choice to measures of efficiency ready in accordance with GAAP. Discuss with Non-GAAP Monetary Measures inside Half II, Merchandise 7 inside our Type 10-Okay for the yr ended December 31, 2024, filed with the SEC on February 21, 2025 for additional info on the non-GAAP monetary measures introduced under, together with why administration believes that its presentation of non-GAAP monetary measures gives helpful info to traders.
Adjusted web earnings (loss)
Internet earnings (loss) attributable to Newmont stockholders is reconciled to Adjusted web earnings (loss) as follows:
|
Three Months Ended March 31, 2025 |
|||||||||||
|
per share information (1) |
|||||||||||
|
fundamental |
diluted |
||||||||||
|
Internet earnings (loss) attributable to Newmont stockholders |
$ |
1,891 |
$ |
1.68 |
$ |
1.68 |
|||||
|
Changes: |
|||||||||||
|
Change in honest worth of investments and choices (2) |
(291 |
) |
(0.25 |
) |
(0.25 |
) |
|||||
|
(Achieve) loss on sale of property held on the market (3) |
(276 |
) |
(0.25 |
) |
(0.25 |
) |
|||||
|
Impairment costs (4) |
15 |
0.01 |
0.01 |
||||||||
|
(Achieve) loss on debt extinguishment (5) |
10 |
0.01 |
0.01 |
||||||||
|
Restructuring and severance (6) |
9 |
0.01 |
0.01 |
||||||||
|
(Achieve) loss on asset and funding gross sales (7) |
5 |
— |
— |
||||||||
|
Newcrest transaction and integration prices (8) |
4 |
— |
— |
||||||||
|
Settlement prices (9) |
3 |
— |
— |
||||||||
|
Different (10) |
7 |
— |
— |
||||||||
|
Tax impact of changes (11) |
197 |
0.19 |
0.19 |
||||||||
|
Valuation allowance and different tax changes (12) |
(170 |
) |
(0.15 |
) |
(0.15 |
) |
|||||
|
Adjusted web earnings (loss) |
$ |
1,404 |
$ |
1.25 |
$ |
1.25 |
|||||
|
|
|||||||||||
|
Weighted common widespread shares (hundreds of thousands): (13) |
1,126 |
1,127 |
|||||||||
|
(1) |
Per share measures might not recalculate resulting from rounding. |
||||||||||||
|
(2) |
Primarily represents unrealized positive aspects and losses associated to the Firm’s investments in present and non-current marketable and different fairness securities; included in Different earnings (loss), web. |
||||||||||||
|
(3) |
Primarily consists of the acquire on the gross sales of the CC&V, Musselwhite, and Éléonore reportable segments; included in (Achieve) loss on sale of property held on the market . Discuss with Notice 3 to the Condensed Consolidated Monetary Statements for additional info. |
||||||||||||
|
(4) |
Represents non-cash write-downs of assorted property which might be not in use and supplies and provides inventories; included in Different expense, web. |
||||||||||||
|
(5) |
Represents the loss on the redemption of the 2026 Senior Notes partially offset by the acquire on the partial redemption of sure senior notes; included in Different earnings (loss), web . Discuss with Notice 15 to the Condensed Consolidated Monetary Statements for additional info. |
||||||||||||
|
(6) |
Primarily represents severance and associated prices related to important organizational or working mannequin adjustments applied by the Firm for all durations introduced; included in Different expense, web . |
||||||||||||
|
(7) |
Primarily represents positive aspects and losses associated to the sale of sure property and investments; included in Different earnings (loss), web . |
||||||||||||
|
(8) |
Represents prices incurred associated to the Newcrest transaction; included in Different expense, web . |
||||||||||||
|
(9) |
Primarily consists of litigation bills and different settlements; included in Different expense, web . |
||||||||||||
|
(10) |
Represents prices incurred associated to transition service agreements for divested reportable segments; included in Different earnings (loss), web. |
||||||||||||
|
(11) |
The tax impact of changes, included in Revenue and mining tax profit (expense) , represents the tax impact of changes in footnotes (2) by (10), as described above, and are calculated utilizing the relevant regional tax fee. |
||||||||||||
|
(12) |
Valuation allowance and different tax changes, included in Revenue and mining tax profit (expense) , is recorded for objects reminiscent of international tax credit, capital losses, disallowed international losses, and the results of adjustments in international foreign money trade charges on deferred tax property and deferred tax liabilities. The adjustment for the three months ended March 31, 2025 displays the web improve or (lower) to web working losses, capital losses, tax credit score carryovers, and different deferred tax property topic to valuation allowance of $(197), the results of adjustments in international trade charges on deferred tax property and liabilities of $(8), web reductions to the reserve for unsure tax positions of $(14), recording of a deferred tax legal responsibility for the skin foundation distinction at Akyem of $2 as a result of standing change to held on the market, and different tax changes of $47. For additional info on reductions to the reserve for unsure tax positions, consult with Notice 9 to the Condensed Consolidated Monetary Statements. |
||||||||||||
|
(13) |
Adjusted web earnings (loss) per diluted share is calculated utilizing diluted widespread shares in accordance with GAAP. |
||||||||||||
|
Three Months Ended March 31, 2024 |
|||||||||||
|
per share information (1) |
|||||||||||
|
fundamental |
diluted |
||||||||||
|
Internet earnings (loss) attributable to Newmont stockholders |
$ |
170 |
$ |
0.15 |
$ |
0.15 |
|||||
|
Internet loss (earnings) attributable to Newmont stockholders from discontinued operations |
(4 |
) |
— |
— |
|||||||
|
Internet earnings (loss) attributable to Newmont stockholders from persevering with operations |
166 |
0.15 |
0.15 |
||||||||
|
Changes: |
|||||||||||
|
(Achieve) loss on sale of property held on the market (2) |
485 |
0.43 |
0.43 |
||||||||
|
Change in honest worth of investments and choices (3) |
(31 |
) |
(0.03 |
) |
(0.03 |
) |
|||||
|
Newcrest transaction-related prices (4) |
29 |
0.03 |
0.03 |
||||||||
|
Settlement prices (5) |
21 |
0.02 |
0.02 |
||||||||
|
Impairment costs (6) |
12 |
0.01 |
0.01 |
||||||||
|
(Achieve) loss on asset and funding gross sales (7) |
(9 |
) |
(0.01 |
) |
(0.01 |
) |
|||||
|
Restructuring and severance (8) |
6 |
— |
— |
||||||||
|
Reclamation and remediation costs (9) |
6 |
— |
— |
||||||||
|
Tax impact of changes (10) |
(147 |
) |
(0.13 |
) |
(0.13 |
) |
|||||
|
Valuation allowance and different tax changes (11) |
92 |
0.08 |
0.08 |
||||||||
|
Adjusted web earnings (loss) |
$ |
630 |
$ |
0.55 |
$ |
0.55 |
|||||
|
|
|||||||||||
|
Weighted common widespread shares (hundreds of thousands): (12) |
1,153 |
1,153 |
|||||||||
|
(1) |
Per share measures might not recalculate resulting from rounding. |
||||||||||||
|
(2) |
Consists of the write-downs on property held on the market; included in (Achieve) loss on sale of property held on the market . Discuss with Notice 3 to the Condensed Consolidated Monetary Statements for additional info. |
||||||||||||
|
(3) |
Primarily represents unrealized positive aspects and losses associated to the Firm’s investments in present and non-current marketable and different fairness securities; included in Different earnings (loss), web. |
||||||||||||
|
(4) |
Represents prices incurred associated to the Newcrest transaction; included in Different expense, web . |
||||||||||||
|
(5) |
Primarily comprised of wind down and demobilization prices associated to the French Guiana challenge; included in Different expense, web . |
||||||||||||
|
(6) |
Represents non-cash write-downs of assorted property which might be not in use and supplies and provides inventories; included in Different expense, web. |
||||||||||||
|
(7) |
Primarily represents the acquire acknowledged on the acquisition and sale of international foreign money bonds; included in Different earnings (loss), web . |
||||||||||||
|
(8) |
Primarily represents severance and associated prices related to important organizational or working mannequin adjustments applied by the Firm for all durations introduced; included in Different expense, web . |
||||||||||||
|
(9) |
Characterize revisions to reclamation and remediation plans on the Firm’s former working properties and historic mining operations which have entered the closure part and don’t have any substantive future financial worth; included in Reclamation and remediation. Discuss with Notice 6 to the Condensed Consolidated Monetary Statements for additional info. |
||||||||||||
|
(10) |
The tax impact of changes, included in Revenue and mining tax profit (expense) , represents the tax impact of changes in footnotes (2) by (9), as described above, and are calculated utilizing the relevant regional tax fee. |
||||||||||||
|
(11) |
Valuation allowance and different tax changes, included in Revenue and mining tax profit (expense) , is recorded for objects reminiscent of international tax credit, capital losses, disallowed international losses, and the results of adjustments in international foreign money trade charges on deferred tax property and deferred tax liabilities. The adjustment for the three months ended March 31, 2024 displays the web improve or (lower) to web working losses, capital losses, tax credit score carryovers, and different deferred tax property topic to valuation allowance of $(65), the results of adjustments in international trade charges on deferred tax property and liabilities of $35, web reductions to the reserve for unsure tax positions of $(2), recording of a deferred tax legal responsibility for the skin foundation distinction at Akyem of $117 as a result of standing change to held on the market, and different tax changes of $7. For additional info on reductions to the reserve for unsure tax positions, consult with Notice 9 to the Condensed Consolidated Monetary Statements. |
||||||||||||
|
(12) |
Adjusted web earnings (loss) per diluted share is calculated utilizing diluted widespread shares in accordance with GAAP. |
||||||||||||
Earnings earlier than curiosity, taxes, depreciation and amortization and Adjusted earnings earlier than curiosity, taxes, depreciation and amortization
Internet earnings (loss) attributable to Newmont stockholders is reconciled to EBITDA and Adjusted EBITDA as follows:
|
|
Three Months Ended |
||||||
|
|
2025 |
2024 |
|||||
|
Internet earnings (loss) attributable to Newmont stockholders |
$ |
1,891 |
$ |
170 |
|||
|
Internet earnings (loss) attributable to noncontrolling pursuits |
11 |
9 |
|||||
|
Internet (earnings) loss from discontinued operations |
— |
(4 |
) |
||||
|
Fairness loss (earnings) of associates |
(78 |
) |
(7 |
) |
|||
|
Revenue and mining tax expense (profit) |
647 |
260 |
|||||
|
Depreciation and amortization |
593 |
654 |
|||||
|
Curiosity expense, web of capitalized curiosity |
79 |
93 |
|||||
|
EBITDA |
3,143 |
1,175 |
|||||
|
Changes: |
|||||||
|
Change in honest worth of investments and choices (1) |
(291 |
) |
(31 |
) |
|||
|
(Achieve) loss on property held on the market (2) |
(276 |
) |
485 |
||||
|
Impairment costs (3) |
15 |
12 |
|||||
|
(Achieve) loss on debt extinguishment (4) |
10 |
— |
|||||
|
Restructuring and severance (5) |
9 |
6 |
|||||
|
(Achieve) loss on asset and funding gross sales (6) |
5 |
(9 |
) |
||||
|
Newcrest transaction and integration prices (7) |
4 |
29 |
|||||
|
Settlement prices (8) |
3 |
21 |
|||||
|
Reclamation and remediation costs (9) |
— |
6 |
|||||
|
Different (10) |
7 |
— |
|||||
|
Adjusted EBITDA |
$ |
2,629 |
$ |
1,694 |
|||
|
(1) |
Primarily represents unrealized positive aspects and losses associated to the Firm’s investments in present and non-current marketable and different fairness securities; included in Different earnings (loss), web. |
||||||||
|
(2) |
Primarily consists of the acquire on the gross sales of the CC&V, Musselwhite, and Éléonore reportable segments in 2025 and the write-downs on property held on the market in 2024; included in (Achieve) loss on sale of property held on the market . Discuss with Notice 3 to the Condensed Consolidated Monetary Statements for additional info. |
||||||||
|
(3) |
Represents non-cash write-downs of assorted property which might be not in use and supplies and provides inventories; included in Different expense, web. |
||||||||
|
(4) |
Represents the loss on the redemption of the 2026 Senior Notes partially offset by the acquire on the partial redemption of sure senior notes in 2025; included in Different earnings (loss), web . Discuss with Notice 15 to the Condensed Consolidated Monetary Statements for additional info. |
||||||||
|
(5) |
Primarily represents severance and associated prices related to important organizational or working mannequin adjustments applied by the Firm for all durations introduced; included in Different expense, web . |
||||||||
|
(6) |
Primarily represents positive aspects and losses associated to the sale of sure property and investments in 2025 and the acquire acknowledged on the acquisition and sale of international foreign money bonds in 2024; included in Different earnings (loss), web . |
||||||||
|
(7) |
Represents prices incurred associated to the Newcrest transaction; included in Different expense, web . |
||||||||
|
(8) |
Primarily consists of litigation bills and different settlements in 2025 and wind-down and demobilization prices associated to the French Guiana challenge in 2024; included in Different expense, web . |
||||||||
|
(9) |
Characterize revisions to reclamation and remediation plans on the Firm’s former working properties and historic mining operations which have entered the closure part and don’t have any substantive future financial worth; included in Reclamation and remediation. Discuss with Notice 6 to the Condensed Consolidated Monetary Statements for additional info. |
||||||||
|
(10) |
Represents prices incurred associated to transition service agreements for divested reportable segments in 2025; included in Different earnings (loss), web. |
||||||||
Free Money Circulation
The next desk units forth a reconciliation of Free money circulate, a non-GAAP monetary measure, to Internet money supplied by (utilized in) working actions , which the Firm believes to be the GAAP monetary measure most straight corresponding to Free money circulate, in addition to info relating to Internet money supplied by (utilized in) investing actions and Internet money supplied by (utilized in) financing actions.
|
Three Months Ended March 31, |
|||||||
|
2025 |
2024 |
||||||
|
Internet money supplied by (utilized in) working actions |
$ |
2,031 |
$ |
776 |
|||
|
Much less: Additions to property, plant and mine improvement |
(826 |
) |
(850 |
) |
|||
|
Free money circulate |
$ |
1,205 |
$ |
(74 |
) |
||
|
Internet money supplied by (utilized in) investing actions (1) |
$ |
738 |
$ |
(798 |
) |
||
|
Internet money supplied by (utilized in) financing actions |
$ |
(1,662 |
) |
$ |
(299 |
) |
|
| (1) |
Internet money supplied by (utilized in) investing actions contains Additions to property, plant and mine improvement, which is included within the Firm’s computation of Free money circulate. |
||||||||
Internet Debt
Internet debt is calculated as Debt and Lease and different financing obligations much less Money and money equivalents , as introduced on the Condensed Consolidated Stability Sheets. Money and money equivalents are subtracted from Debt and Lease and different financing obligations as these may very well be used to cut back the Firm’s debt obligations.
The next desk units forth a reconciliation of Internet debt, a non-GAAP monetary measure, to Debt and Lease and different financing obligations , which the Firm believes to be the GAAP monetary measures most straight corresponding to Internet debt.
|
|
At March 31, |
At December 31, |
|||||
|
Debt |
$ |
7,507 |
$ |
8,476 |
|||
|
Lease and different financing obligations |
479 |
496 |
|||||
|
Much less: Money and money equivalents |
(4,698 |
) |
(3,619 |
) |
|||
|
Much less: Money and money equivalents included in property held on the market (1) |
(67 |
) |
(45 |
) |
|||
|
Internet debt |
$ |
3,221 |
$ |
5,308 |
|||
| (1) |
Through the first quarter of 2024, sure non-core property had been decided to fulfill the factors for property held on the market. Consequently, the associated Money and money equivalents was reclassified to Belongings held on the market . Discuss with Notice 3 to the Condensed Consolidated Monetary Statements for added info. |
||||||||
Prices relevant to gross sales per ounce/gold equal ounce
Prices relevant to gross sales per ounce/gold equal ounce are calculated by dividing the prices relevant to gross sales of gold and different metals by gold ounces or gold equal ounces bought, respectively. These measures are calculated for the durations introduced on a consolidated foundation.
The next tables reconcile these non-GAAP measures to probably the most straight comparable GAAP measures.
Prices relevant to gross sales per ounce
|
Three Months Ended March 31, |
|||||
|
2025 |
2024 |
||||
|
Prices relevant to gross sales (1)(2) |
$ |
1,769 |
$ |
1,690 |
|
|
Gold bought (thousand ounces) |
1,442 |
1,599 |
|||
|
Prices relevant to gross sales per ounce (3) |
$ |
1,227 |
$ |
1,057 |
|
|
(1) |
Consists of by-product credit of $47 and $39 in the course of the three months ended March 31, 2025 and 2024, respectively. |
||||||
|
(2) |
Excludes Depreciation and amortization and Reclamation and remediation . |
||||||
|
(3) |
Per ounce measures might not recalculate resulting from rounding. |
||||||
Prices relevant to gross sales per gold equal ounce
|
Three Months Ended March 31, |
|||||
|
2025 |
2024 |
||||
|
Prices relevant to gross sales (1)(2) |
$ |
337 |
$ |
416 |
|
|
Gold equal ounces bought – different metals (thousand ounces) (3) |
368 |
502 |
|||
|
Prices relevant to gross sales per gold equal ounce (4) |
$ |
915 |
$ |
829 |
|
|
(1) |
Consists of by-product credit of $17 and $15 in the course of the three months ended March 31, 2025 and 2024, respectively. |
||||||
|
(2) |
Excludes Depreciation and amortization and Reclamation and remediation . |
||||||
|
(3) |
Gold equal ounces is calculated as kilos or ounces produced multiplied by the ratio of the opposite metals worth to the gold worth, utilizing Gold ($1,700/oz.), Copper ($3.50/lb.), Silver ($20.00/oz.), Lead ($0.90/lb.) and Zinc ($1.20/lb.) pricing for 2025 and Gold ($1,400/oz.), Copper ($3.50/lb.), Silver ($20.00/oz.), Lead ($1.00/lb.) and Zinc ($1.20/lb.) pricing for 2024. |
||||||
|
(4) |
Per ounce measures might not recalculate resulting from rounding. |
||||||
All-In Sustaining Prices
All-in sustaining prices symbolize the sum of sure prices, acknowledged as GAAP monetary measures, that administration considers to be related to manufacturing. All-in sustaining prices per ounce quantities are calculated by dividing all-in sustaining prices by gold ounces or gold equal ounces bought.
|
Three Months Ended March 31, 2025 |
Prices Relevant to Gross sales (1)(2)(3) |
Reclamation Prices (4) |
Superior Tasks, Analysis and Improvement and Exploration (5) |
Normal and Administrative |
Different Expense, Internet (6) |
Therapy and Refining Prices |
Sustaining Capital and Lease Associated Prices (7)(8) |
All-In Sustaining Prices |
Ounces (000) Offered |
All-In Sustaining Prices Per oz. (9) |
||||||||||||||||||
|
Gold |
||||||||||||||||||||||||||||
|
Ahafo |
$ |
247 |
$ |
4 |
$ |
2 |
$ |
— |
$ |
— |
$ |
— |
$ |
38 |
$ |
291 |
199 |
$ |
1,462 |
|||||||||
|
Brucejack |
83 |
1 |
2 |
— |
— |
1 |
16 |
103 |
46 |
$ |
2,230 |
|||||||||||||||||
|
Pink Chris |
16 |
1 |
— |
— |
— |
— |
2 |
19 |
15 |
$ |
1,322 |
|||||||||||||||||
|
Peñasquito |
106 |
4 |
— |
— |
— |
8 |
11 |
129 |
118 |
$ |
1,091 |
|||||||||||||||||
|
Merian |
72 |
2 |
— |
— |
— |
— |
15 |
89 |
48 |
$ |
1,864 |
|||||||||||||||||
|
Cerro Negro (10) |
78 |
2 |
1 |
— |
1 |
— |
26 |
108 |
38 |
$ |
2,857 |
|||||||||||||||||
|
Yanacocha |
93 |
11 |
— |
— |
8 |
— |
1 |
113 |
96 |
$ |
1,170 |
|||||||||||||||||
|
Boddington |
167 |
5 |
1 |
— |
— |
1 |
34 |
208 |
135 |
$ |
1,544 |
|||||||||||||||||
|
Tanami |
82 |
1 |
2 |
— |
— |
— |
40 |
125 |
75 |
$ |
1,659 |
|||||||||||||||||
|
Cadia |
77 |
1 |
— |
— |
— |
2 |
36 |
116 |
98 |
$ |
1,184 |
|||||||||||||||||
|
Lihir |
161 |
4 |
1 |
— |
— |
— |
48 |
214 |
160 |
$ |
1,339 |
|||||||||||||||||
|
NGM |
308 |
4 |
1 |
3 |
— |
2 |
70 |
388 |
216 |
$ |
1,789 |
|||||||||||||||||
|
Company and Different (11) |
— |
— |
29 |
92 |
3 |
— |
2 |
126 |
— |
$ |
— |
|||||||||||||||||
|
Held on the market (12) |
||||||||||||||||||||||||||||
|
Porcupine |
63 |
2 |
1 |
— |
— |
— |
21 |
87 |
51 |
$ |
1,728 |
|||||||||||||||||
|
Akyem |
90 |
4 |
— |
— |
— |
— |
8 |
102 |
39 |
$ |
2,594 |
|||||||||||||||||
|
Divested (13) |
||||||||||||||||||||||||||||
|
CC&V |
39 |
2 |
— |
— |
— |
— |
5 |
46 |
27 |
$ |
1,708 |
|||||||||||||||||
|
Musselwhite |
33 |
1 |
— |
— |
— |
— |
14 |
48 |
32 |
$ |
1,530 |
|||||||||||||||||
|
Éléonore |
54 |
1 |
2 |
— |
— |
— |
12 |
69 |
49 |
$ |
1,403 |
|||||||||||||||||
|
Complete Gold |
1,769 |
50 |
42 |
95 |
12 |
14 |
399 |
2,381 |
1,442 |
$ |
1,651 |
|||||||||||||||||
|
Gold equal ounces – different metals (14)(15) |
||||||||||||||||||||||||||||
|
Pink Chris |
35 |
1 |
— |
— |
— |
1 |
6 |
43 |
32 |
$ |
1,334 |
|||||||||||||||||
|
Peñasquito (16) |
193 |
6 |
— |
1 |
— |
28 |
24 |
252 |
212 |
$ |
1,189 |
|||||||||||||||||
|
Boddington |
38 |
1 |
— |
— |
— |
1 |
8 |
48 |
32 |
$ |
1,489 |
|||||||||||||||||
|
Cadia |
71 |
1 |
— |
— |
— |
2 |
34 |
108 |
92 |
$ |
1,171 |
|||||||||||||||||
|
Company and Different (11) |
— |
— |
5 |
14 |
— |
— |
— |
19 |
— |
$ |
— |
|||||||||||||||||
|
Complete Gold Equal Ounces |
337 |
9 |
5 |
15 |
— |
32 |
72 |
470 |
368 |
$ |
1,275 |
|||||||||||||||||
|
Consolidated |
$ |
2,106 |
$ |
59 |
$ |
47 |
$ |
110 |
$ |
12 |
$ |
46 |
$ |
471 |
$ |
2,851 |
||||||||||||
|
(1) |
Excludes Depreciation and amortization and Reclamation and remediation . |
|||||||||||||||||||||||||||||
|
(2) |
Consists of by-product credit of $64. |
|||||||||||||||||||||||||||||
|
(3) |
Consists of stockpile, leach pad, and product stock changes of $3 at Cerro Negro and $15 at NGM. |
|||||||||||||||||||||||||||||
|
(4) |
Consists of working accretion of $38, included in Reclamation and remediation , and amortization of asset retirement prices of $21; excludes accretion and reclamation and remediation changes at former working properties which have entered the closure part and don’t have any substantive future financial worth of $51 and $4, respectively; included in Reclamation and remediation . |
|||||||||||||||||||||||||||||
|
(5) |
Excludes improvement expenditures of $8 at Ahafo, $2 at Pink Chris, $4 at Peñasquito, $7 at Merian, $4 at Cerro Negro, $1 at Yanacocha, $2 at Boddington, $1 at NGM, $16 at Company and Different, totaling $45 associated to growing new operations or main tasks at present operations the place these tasks will materially profit the operation. |
|||||||||||||||||||||||||||||
|
(6) |
Adjusted for restructuring and severance of $9, Newcrest transaction and integration prices of $4, impairment costs of $15, settlement prices of $3; included in Different expense, web . |
|||||||||||||||||||||||||||||
|
(7) |
Excludes capitalized curiosity associated to sustaining capital expenditures. See Liquidity and Capital Sources inside Half I, Merchandise 2, MD&A for capital expenditures by section. |
|||||||||||||||||||||||||||||
|
(8) |
Consists of finance lease funds and different prices for sustaining tasks of $20. |
|||||||||||||||||||||||||||||
|
(9) |
Per ounce measures might not recalculate resulting from rounding. |
|||||||||||||||||||||||||||||
|
(10) |
Through the first quarter of 2025, mining and processing operations on the website had been quickly suspended resulting from security occasions. Full operations resumed in April 2025. |
|||||||||||||||||||||||||||||
|
(11) |
Company and Different contains the Firm’s enterprise actions regarding its company and regional workplaces and all fairness technique investments. Discuss with Notice 4 to the Condensed Consolidated Monetary Statements for additional info. |
|||||||||||||||||||||||||||||
|
(12) |
Websites are categorized as held on the market as of March 31, 2025. Discuss with Notice 3 to the Condensed Consolidated Monetary Statements for additional info. |
|||||||||||||||||||||||||||||
|
(13) |
Within the first quarter of 2025, the Firm accomplished the gross sales of the CC&V, Musselwhite, and Éléonore reportable segments. Discuss with Notice 3 to the Condensed Consolidated Monetary Statements for additional info. |
|||||||||||||||||||||||||||||
|
(14) |
Gold equal ounces is calculated as kilos or ounces produced multiplied by the ratio of the opposite metals worth to the gold worth, utilizing Gold ($1,700/oz.), Copper ($3.50/lb.), Silver ($20.00/oz.), Lead ($0.90/lb.) and Zinc ($1.20/lb.) pricing for 2025. |
|||||||||||||||||||||||||||||
|
(15) |
For the three months ended March 31, 2025, Pink Chris bought 7 thousand tonnes of copper, Peñasquito bought 6 million ounces of silver, 21 thousand tonnes of lead and 73 thousand tonnes of zinc, Boddington bought 7 thousand tonnes of copper, and Cadia bought 21 thousand tonnes of copper. |
|||||||||||||||||||||||||||||
|
(16) |
All-in sustaining prices at Peñasquito is comprised of $79, $25, and $148 for silver, lead, and zinc, respectively. |
|||||||||||||||||||||||||||||
|
Three Months Ended March 31, 2024 |
Prices Relevant to Gross sales (1)(2)(3) |
Reclamation Prices (4) |
Superior Tasks, Analysis and Improvement and Exploration (5) |
Normal and Administrative |
Different Expense, Internet (6) |
Therapy and Refining Prices |
Sustaining Capital and Lease Associated Prices (7)(8) |
All-In Sustaining Prices |
Ounces (000) Offered |
All-In Sustaining Prices Per oz. (9) |
||||||||||||||||||
|
Gold |
||||||||||||||||||||||||||||
|
Ahafo |
$ |
159 |
$ |
4 |
$ |
— |
$ |
— |
$ |
— |
$ |
1 |
$ |
22 |
$ |
186 |
184 |
$ |
1,010 |
|||||||||
|
Brucejack |
74 |
1 |
— |
— |
— |
1 |
12 |
88 |
34 |
$ |
2,580 |
|||||||||||||||||
|
Pink Chris |
7 |
— |
— |
— |
— |
1 |
1 |
9 |
7 |
$ |
1,277 |
|||||||||||||||||
|
Peñasquito |
38 |
1 |
— |
— |
— |
3 |
5 |
47 |
44 |
$ |
1,079 |
|||||||||||||||||
|
Merian |
90 |
2 |
2 |
— |
— |
— |
19 |
113 |
74 |
$ |
1,530 |
|||||||||||||||||
|
Cerro Negro |
63 |
2 |
1 |
— |
1 |
— |
15 |
82 |
74 |
$ |
1,120 |
|||||||||||||||||
|
Yanacocha |
88 |
7 |
2 |
— |
— |
— |
5 |
102 |
90 |
$ |
1,123 |
|||||||||||||||||
|
Boddington |
144 |
5 |
— |
— |
— |
3 |
24 |
176 |
142 |
$ |
1,242 |
|||||||||||||||||
|
Tanami |
82 |
1 |
— |
— |
— |
— |
22 |
105 |
91 |
$ |
1,149 |
|||||||||||||||||
|
Cadia |
74 |
— |
3 |
— |
— |
6 |
30 |
113 |
114 |
$ |
989 |
|||||||||||||||||
|
Lihir |
171 |
1 |
6 |
— |
— |
— |
51 |
229 |
182 |
$ |
1,256 |
|||||||||||||||||
|
NGM |
314 |
4 |
2 |
2 |
1 |
2 |
95 |
420 |
267 |
$ |
1,576 |
|||||||||||||||||
|
Company and Different (10) |
— |
— |
30 |
90 |
1 |
— |
4 |
125 |
— |
$ |
— |
|||||||||||||||||
|
Held on the market (11) |
||||||||||||||||||||||||||||
|
CC&V |
40 |
3 |
1 |
— |
1 |
— |
5 |
50 |
29 |
$ |
1,735 |
|||||||||||||||||
|
Musselwhite |
57 |
1 |
2 |
— |
1 |
— |
25 |
86 |
49 |
$ |
1,766 |
|||||||||||||||||
|
Porcupine |
63 |
5 |
2 |
— |
— |
— |
19 |
89 |
61 |
$ |
1,470 |
|||||||||||||||||
|
Éléonore |
80 |
2 |
4 |
— |
— |
— |
21 |
107 |
56 |
$ |
1,920 |
|||||||||||||||||
|
Telfer (12) |
70 |
2 |
3 |
— |
— |
1 |
3 |
79 |
26 |
$ |
3,017 |
|||||||||||||||||
|
Akyem |
76 |
11 |
— |
1 |
— |
— |
8 |
96 |
75 |
$ |
1,254 |
|||||||||||||||||
|
Complete Gold |
1,690 |
52 |
58 |
93 |
5 |
18 |
386 |
2,302 |
1,599 |
$ |
1,439 |
|||||||||||||||||
|
|
||||||||||||||||||||||||||||
|
Gold equal ounces – different metals (13)(14) |
||||||||||||||||||||||||||||
|
Pink Chris |
31 |
— |
2 |
— |
— |
4 |
6 |
43 |
31 |
$ |
1,400 |
|||||||||||||||||
|
Peñasquito (15) |
255 |
9 |
1 |
— |
— |
35 |
34 |
334 |
303 |
$ |
1,102 |
|||||||||||||||||
|
Boddington |
48 |
1 |
— |
— |
— |
3 |
3 |
55 |
51 |
$ |
1,081 |
|||||||||||||||||
|
Cadia |
67 |
— |
2 |
— |
— |
19 |
27 |
115 |
112 |
$ |
1,027 |
|||||||||||||||||
|
Company and Different (10) |
— |
— |
1 |
8 |
— |
— |
— |
9 |
— |
$ |
— |
|||||||||||||||||
|
Held on the market (11) |
||||||||||||||||||||||||||||
|
Telfer (12) |
15 |
1 |
1 |
— |
— |
2 |
1 |
20 |
5 |
$ |
3,745 |
|||||||||||||||||
|
Complete Gold Equal Ounces |
416 |
11 |
7 |
8 |
— |
63 |
71 |
576 |
502 |
$ |
1,148 |
|||||||||||||||||
|
|
||||||||||||||||||||||||||||
|
Consolidated |
$ |
2,106 |
$ |
63 |
$ |
65 |
$ |
101 |
$ |
5 |
$ |
81 |
$ |
457 |
$ |
2,878 |
||||||||||||
|
(1) |
Excludes Depreciation and amortization and Reclamation and remediation . |
|||||||||||||||||||||||||||||
|
(2) |
Consists of by-product credit of $54. |
|||||||||||||||||||||||||||||
|
(3) |
Consists of stockpile, leach pad, and product stock changes of $2 at Brucejack, $1 at Peñasquito, $6 at NGM, and $15 at Telfer. |
|||||||||||||||||||||||||||||
|
(4) |
Embody working accretion of $33, included in Reclamation and remediation , and amortization of asset retirement prices of $30; excludes accretion and reclamation and remediation changes at former working properties which have entered the closure part and don’t have any substantive future financial worth of $54 and $11, respectively; included in Reclamation and remediation . |
|||||||||||||||||||||||||||||
|
(5) |
Excludes improvement expenditures of $5 at Ahafo, $1 at Peñasquito, $2 at Merian, $4 at Cerro Negro, $1 at Boddington, $8 at Tanami, $4 at Akyem, $3 at NGM, and $13 at Company and Different, totaling $41 associated to growing new operations or main tasks at present operations the place these tasks will materially profit the operation. |
|||||||||||||||||||||||||||||
|
(6) |
Adjusted for Newcrest transaction-related prices of $29, settlement prices of $21, impairment costs of $12, and restructuring and severance of $6; included Different expense, web . |
|||||||||||||||||||||||||||||
|
(7) |
Excludes capitalized curiosity associated to sustaining capital expenditures. See Liquidity and Capital Sources inside Half I, Merchandise 2, MD&A for capital expenditures by section. |
|||||||||||||||||||||||||||||
|
(8) |
Consists of finance lease funds and different prices for sustaining tasks of $15. |
|||||||||||||||||||||||||||||
|
(9) |
Per ounce measures might not recalculate resulting from rounding. |
|||||||||||||||||||||||||||||
|
(10) |
Company and Different contains the Firm’s enterprise actions regarding its company and regional workplaces and all fairness technique investments. Discuss with Notice 4 to the Condensed Consolidated Monetary Statements for additional info. |
|||||||||||||||||||||||||||||
|
(11) |
Websites had been categorized as held on the market as of March 31, 2024. Discuss with Notice 3 to the Condensed Consolidated Monetary Statements for additional info. |
|||||||||||||||||||||||||||||
|
(12) |
Within the fourth quarter of 2024, the Firm accomplished the sale of the property of the Telfer reportable section. Discuss with Notice 3 to the Condensed Consolidated Monetary Statements for additional info. |
|||||||||||||||||||||||||||||
|
(13) |
Gold equal ounces is calculated as kilos or ounces produced multiplied by the ratio of the opposite metals worth to the gold worth, utilizing Gold ($1,400/oz.), Copper ($3.50/lb.), Silver ($20.00/oz.), Lead ($1.00/lb.) and Zinc ($1.20/lb.) pricing for 2024. |
|||||||||||||||||||||||||||||
|
(14) |
For the three months ended March 31, 2024, Pink Chris bought 6 thousand tonnes of copper, Peñasquito bought 10 million ounces of silver, 29 thousand tonnes of lead and 61 thousand tonnes of zinc, Boddington bought 9 thousand tonnes of copper, Cadia bought 20 thousand tonnes of copper, and Telfer bought 1 thousand tonnes of copper. |
|||||||||||||||||||||||||||||
|
(15) |
All-in sustaining prices at Peñasquito is comprised of $145, $44, and $145 for silver, lead, and zinc, respectively. |
|||||||||||||||||||||||||||||
A reconciliation of the 2025 Gold AISC outlook to the 2025 Gold CAS outlook is supplied under. For extra particulars, consult with the Firm’s Fourth Quarter 2024 Earnings and 2025 Steering press launch, issued on February 20, 2025, and accessible on www.newmont.com . The estimates within the desk under are thought-about “forward-looking statements” inside the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended, that are supposed to be lined by the secure harbor created by such sections and different relevant legal guidelines.
|
2025 Steering Complete Tier 1 Portfolio – Gold (1)(2) |
||
|
(in hundreds of thousands, besides ounces and per ounce) |
Steering Estimate |
|
|
Price Relevant to Gross sales (3)(4) |
$ |
6,100 |
|
Reclamation Prices (5) |
160 |
|
|
Superior Tasks & Exploration (6) |
200 |
|
|
Normal and Administrative (7) |
340 |
|
|
Different Expense |
20 |
|
|
Therapy and Refining Prices |
80 |
|
|
Sustaining Capital (8) |
1,440 |
|
|
Sustaining Finance Lease Funds |
60 |
|
|
All-in Sustaining Prices |
$ |
8,390 |
|
Ounces (000) Offered (9) |
5,175 |
|
|
All-in Sustaining Prices per Ounce |
$ |
1,620 |
|
(1) |
The reconciliation is supplied for illustrative functions with a purpose to higher describe administration’s estimates of the elements of the calculation. Estimates for every element of the forward-looking All-in sustaining prices per ounce are independently calculated and, because of this, the full All-in sustaining prices and the All-in sustaining prices per ounce might not sum to the element ranges. Whereas a reconciliation to probably the most straight comparable GAAP measure has been supplied for the 2025 AISC Gold Outlook on a consolidated foundation, a reconciliation has not been supplied on a person website or challenge foundation in reliance on Merchandise 10(e)(1)(i)(B) of Regulation S-Okay as a result of such reconciliation is just not accessible with out unreasonable efforts. 2025 steerage projections are thought-about forward-looking statements and symbolize administration’s good religion estimates or expectations of future manufacturing outcomes as of February 20, 2025. Steering can’t be assured. As such, traders are cautioned to not place undue reliance upon Steering and forward-looking statements as there might be no assurance that the plans, assumptions or expectations upon which they’re positioned will happen. See cautionary assertion on the finish of this launch. |
|||
|
(2) |
All values are introduced on a consolidated foundation for Newmont. |
|||
|
(3) |
Excludes Depreciation and amortization and Reclamation and remediation . |
|||
|
(4) |
Consists of stockpile and leach pad stock changes. |
|||
|
(5) |
Reclamation prices embody working accretion and amortization of asset retirement prices. |
|||
|
(6) |
Superior Mission and Exploration excludes non-sustaining superior tasks and exploration. |
|||
|
(7) |
Consists of stock-based compensation. |
|||
|
(8) |
Excludes improvement capital expenditures, capitalized curiosity and alter in accrued capital. |
|||
|
(9) |
Consolidated manufacturing for Merian is introduced on a complete manufacturing foundation for the mine website and excludes manufacturing from Pueblo Viejo and Fruta del Norte. |
|||
Internet debt to Adjusted EBITDA ratio
Administration makes use of web debt to Adjusted EBITDA as non-GAAP measures to guage the Firm’s working efficiency, together with our capacity to generate earnings ample to service our debt. Internet debt to Adjusted EBITDA represents the ratio of the Firm’s debt, web of money and money equivalents, to Adjusted EBITDA. Internet debt to Adjusted EBITDA doesn’t symbolize, and shouldn’t be thought-about an alternative choice to, web earnings (loss), working earnings (loss), or money circulate from operations as these phrases are outlined by GAAP, and doesn’t essentially point out whether or not money flows will likely be ample to fund money wants. Though Internet debt to Adjusted EBITDA and comparable measures are continuously used as measures of operations and the power to fulfill debt service necessities by different firms, our calculation of web debt to Adjusted EBITDA measure is just not essentially corresponding to such different equally titled captions of different firms. The Firm believes that web debt to Adjusted EBITDA gives helpful info to traders and others in understanding and evaluating our working leads to the identical method as our administration and Board of Administrators. Administration’s dedication of the elements of web debt to Adjusted EBITDA is evaluated periodically and based mostly, partially, on a assessment of non-GAAP monetary measures utilized by mining trade analysts. Internet earnings (loss) attributable to Newmont stockholders is reconciled to Adjusted EBITDA as follows:
|
Three Months Ended |
|||||||||||||||
|
March 31, 2025 |
December 31, 2024 |
September 30, 2024 |
June 30, 2024 |
||||||||||||
|
Internet earnings (loss) attributable to Newmont stockholders |
$ |
1,891 |
$ |
1,403 |
$ |
922 |
$ |
853 |
|||||||
|
Internet earnings (loss) attributable to noncontrolling pursuits |
11 |
18 |
2 |
4 |
|||||||||||
|
Internet loss (earnings) from discontinued operations |
— |
— |
(49 |
) |
(15 |
) |
|||||||||
|
Fairness loss (earnings) of associates |
(78 |
) |
(69 |
) |
(60 |
) |
3 |
||||||||
|
Revenue and mining tax expense (profit) |
647 |
702 |
244 |
191 |
|||||||||||
|
Depreciation and amortization |
593 |
689 |
631 |
602 |
|||||||||||
|
Curiosity expense, web of capitalized curiosity |
79 |
93 |
86 |
103 |
|||||||||||
|
EBITDA (1) |
$ |
3,143 |
$ |
2,836 |
$ |
1,776 |
$ |
1,741 |
|||||||
|
Changes: |
|||||||||||||||
|
Change in honest worth of investments |
$ |
(291 |
) |
$ |
(23 |
) |
$ |
(17 |
) |
$ |
9 |
||||
|
(Achieve) loss on sale of property held on the market |
(276 |
) |
268 |
115 |
246 |
||||||||||
|
Impairment costs |
15 |
39 |
18 |
9 |
|||||||||||
|
(Achieve) loss on debt extinguishment |
10 |
(3 |
) |
(15 |
) |
(14 |
) |
||||||||
|
Restructuring and severance |
9 |
18 |
5 |
9 |
|||||||||||
|
(Achieve) loss on asset and funding gross sales |
5 |
1 |
28 |
(55 |
) |
||||||||||
|
Newcrest transaction and integration prices |
4 |
10 |
17 |
16 |
|||||||||||
|
Settlement prices |
3 |
11 |
7 |
5 |
|||||||||||
|
Reclamation and remediation costs |
— |
(110 |
) |
33 |
— |
||||||||||
|
Pension settlements |
— |
1 |
— |
— |
|||||||||||
|
Different |
7 |
— |
— |
— |
|||||||||||
|
Adjusted EBITDA (1) |
$ |
2,629 |
$ |
3,048 |
$ |
1,967 |
$ |
1,966 |
|||||||
|
12 month trailing Adjusted EBITDA |
$ |
9,610 |
|||||||||||||
|
Complete Debt |
$ |
7,507 |
|||||||||||||
|
Lease and different financing obligations |
479 |
||||||||||||||
|
Much less: Money and money equivalents |
(4,698 |
) |
|||||||||||||
|
Much less: Money and money equivalents included in property held on the market (2) |
(67 |
) |
|||||||||||||
|
Complete Internet debt |
$ |
3,221 |
|||||||||||||
|
Internet debt to Adjusted EBITDA |
0.3 |
||||||||||||||
|
(1) |
See EBITDA and Adjusted EBITDA reconciliation for extra particulars on changes. |
||||||||||||||||
|
(2) |
Through the first quarter of 2024, sure non-core property had been decided to fulfill the factors for property held on the market. Consequently, the associated Money and money equivalents was reclassified to Belongings held on the market . Discuss with Notice 3 to the Condensed Consolidated Monetary Statements for added info. |
||||||||||||||||
Internet common realized worth per ounce/ pound
Common realized worth per ounce/ pound are non-GAAP monetary measures. The measures are calculated by dividing the web consolidated gold, copper, silver, lead, and zinc gross sales by the consolidated gold ounces, copper kilos, silver ounces, lead kilos and zinc kilos bought, respectively. These measures are calculated on a constant foundation for the durations introduced on a consolidated foundation. Common realized worth per ounce/ pound statistics are supposed to supply further info solely, should not have any standardized that means prescribed by GAAP and shouldn’t be thought-about in isolation or as an alternative choice to measures of efficiency ready in accordance with GAAP. The measures usually are not essentially indicative of working revenue or money circulate from operations as decided beneath GAAP. Different firms might calculate these measures otherwise.
The next tables reconcile these non-GAAP measures to probably the most straight comparable GAAP measure:
|
Three Months Ended |
Enhance |
P.c |
||||||||||
|
2025 |
2024 |
|||||||||||
|
Consolidated gold gross sales, web |
$ |
4,245 |
$ |
3,341 |
$ |
904 |
27 |
% |
||||
|
Consolidated copper gross sales, web |
354 |
297 |
57 |
19 |
||||||||
|
Consolidated silver gross sales, web |
188 |
201 |
(13 |
) |
(6 |
) |
||||||
|
Consolidated lead gross sales, web |
42 |
60 |
(18 |
) |
(30 |
) |
||||||
|
Consolidated zinc gross sales, web |
181 |
124 |
57 |
46 |
||||||||
|
Complete gross sales |
$ |
5,010 |
$ |
4,023 |
$ |
987 |
25 |
% |
||||
|
Three Months Ended March 31, 2025 |
|||||||||||||||||||
|
Gold |
Copper |
Silver |
Lead |
Zinc |
|||||||||||||||
|
(ounces) |
(kilos) |
(ounces) |
(kilos) |
(kilos) |
|||||||||||||||
|
Consolidated gross sales: |
|||||||||||||||||||
|
Gross earlier than provisional pricing and streaming impression |
$ |
4,167 |
$ |
324 |
$ |
157 |
$ |
43 |
$ |
207 |
|||||||||
|
Provisional pricing mark-to-market |
92 |
34 |
19 |
— |
(6 |
) |
|||||||||||||
|
Silver streaming amortization |
— |
— |
19 |
— |
— |
||||||||||||||
|
Gross after provisional pricing and streaming impression |
4,259 |
358 |
195 |
43 |
201 |
||||||||||||||
|
Therapy and refining costs |
(14 |
) |
(4 |
) |
(7 |
) |
(1 |
) |
(20 |
) |
|||||||||
|
Internet |
$ |
4,245 |
$ |
354 |
$ |
188 |
$ |
42 |
$ |
181 |
|||||||||
|
Consolidated ounces/kilos bought (1)(2) |
1,442 |
76 |
6 |
47 |
161 |
||||||||||||||
|
Common realized worth (per ounce/pound): (3) |
|||||||||||||||||||
|
Gross earlier than provisional pricing and streaming impression |
$ |
2,890 |
$ |
4.25 |
$ |
25.23 |
$ |
0.91 |
$ |
1.28 |
|||||||||
|
Provisional pricing mark-to-market |
64 |
0.45 |
3.03 |
— |
(0.03 |
) |
|||||||||||||
|
Silver streaming amortization |
— |
— |
3.04 |
— |
— |
||||||||||||||
|
Gross after provisional pricing and streaming impression |
2,954 |
4.70 |
31.30 |
0.91 |
1.25 |
||||||||||||||
|
Therapy and refining costs |
(10 |
) |
(0.05 |
) |
(1.18 |
) |
(0.02 |
) |
(0.12 |
) |
|||||||||
|
Internet |
$ |
2,944 |
$ |
4.65 |
$ |
30.12 |
$ |
0.89 |
$ |
1.13 |
|||||||||
|
(1) |
Quantities reported in hundreds of thousands besides gold ounces, that are reported in hundreds. |
||||||||||||||||||||
|
(2) |
For the three months ended March 31, 2025 the Firm bought 35 thousand tonnes of copper, 21 thousand tonnes of lead, and 73 thousand tonnes of zinc. |
||||||||||||||||||||
|
(3) |
Per ounce/pound measures might not recalculate resulting from rounding. |
||||||||||||||||||||
|
Three Months Ended March 31, 2024 |
|||||||||||||||||||
|
Gold |
Copper |
Silver |
Lead |
Zinc |
|||||||||||||||
|
(ounces) |
(kilos) |
(ounces) |
(kilos) |
(kilos) |
|||||||||||||||
|
Consolidated gross sales: |
|||||||||||||||||||
|
Gross earlier than provisional pricing and streaming impression |
$ |
3,329 |
$ |
316 |
$ |
182 |
$ |
61 |
$ |
149 |
|||||||||
|
Provisional pricing mark-to-market |
30 |
9 |
4 |
— |
(3 |
) |
|||||||||||||
|
Silver streaming amortization |
— |
— |
27 |
— |
— |
||||||||||||||
|
Gross after provisional pricing and streaming impression |
3,359 |
325 |
213 |
61 |
146 |
||||||||||||||
|
Therapy and refining costs |
(18 |
) |
(28 |
) |
(12 |
) |
(1 |
) |
(22 |
) |
|||||||||
|
Internet |
$ |
3,341 |
$ |
297 |
$ |
201 |
$ |
60 |
$ |
124 |
|||||||||
|
Consolidated ounces/kilos bought (1)(2) |
1,599 |
80 |
10 |
65 |
135 |
||||||||||||||
|
Common realized worth (per ounce/pound): (3) |
|||||||||||||||||||
|
Gross earlier than provisional pricing and streaming impression |
$ |
2,082 |
$ |
3.95 |
$ |
18.50 |
$ |
0.95 |
$ |
1.10 |
|||||||||
|
Provisional pricing mark-to-market |
19 |
0.12 |
0.39 |
(0.01 |
) |
(0.02 |
) |
||||||||||||
|
Silver streaming amortization |
— |
— |
2.78 |
— |
— |
||||||||||||||
|
Gross after provisional pricing and streaming impression |
2,101 |
4.07 |
21.67 |
0.94 |
1.08 |
||||||||||||||
|
Therapy and refining costs |
(11 |
) |
(0.35 |
) |
(1.26 |
) |
(0.02 |
) |
(0.16 |
) |
|||||||||
|
Internet |
$ |
2,090 |
$ |
3.72 |
$ |
20.41 |
$ |
0.92 |
$ |
0.92 |
|||||||||
|
(1) |
Quantities reported in hundreds of thousands besides gold ounces, that are reported in hundreds. |
|
|
(2) |
For the three months ended March 31, 2024 the Firm bought 36 thousand tonnes of copper, 29 thousand tonnes of lead, and 61 thousand tonnes of zinc. |
|
|
(3) |
Per ounce/pound measures might not recalculate resulting from rounding. |
Gold by-product metrics
Copper, silver, lead, zinc, and molybdenum are by-products usually obtained in the course of the means of extracting and processing the first ore-body. In our GAAP Consolidated Monetary Statements, the worth of those by-products is recorded as a credit score to our CAS and the worth of the first ore is recorded as Gross sales . In sure situations, copper, silver, lead, and zinc are co-products, or a big useful resource within the major ore-body, and the income is recorded as Gross sales in our GAAP Consolidated Monetary Statements.
Gold by-product metrics are non-GAAP monetary measures that function a foundation for evaluating the Firm’s efficiency with sure rivals. As Newmont’s operations are primarily centered on gold manufacturing, “Gold by-product metrics” had been developed to permit traders to view Gross sales , CAS per ounce and AISC per ounce calculations that classify all copper, silver, lead, zinc, and molybdenum manufacturing as a by-product, even when copper, silver, lead or zinc is a big useful resource within the major ore-body. These metrics are calculated by subtracting copper, silver, lead, and zinc gross sales acknowledged from Gross sales and together with these quantities as offsets to CAS.
Gold by-product metrics are calculated on a constant foundation for the durations introduced on a consolidated foundation. These metrics are supposed to supply supplemental info solely, should not have any standardized that means prescribed by GAAP and shouldn’t be thought-about in isolation or as an alternative choice to measures of efficiency ready in accordance with GAAP. Different firms might calculate these measures otherwise because of variations within the underlying accounting rules, insurance policies utilized and in accounting frameworks.
The next tables reconcile these non-GAAP measures to probably the most straight comparable GAAP measures:
|
Complete Newmont Gold By-product Unit Prices |
Three Months Ended March 31, |
|||||||
|
2025 |
2024 |
|||||||
|
Consolidated gold gross sales, web |
$ |
4,245 |
$ |
3,341 |
||||
|
Consolidated different steel gross sales, web |
765 |
682 |
||||||
|
Gross sales |
$ |
5,010 |
$ |
4,023 |
||||
|
Prices relevant to gross sales |
$ |
2,106 |
$ |
2,106 |
||||
|
Much less: Consolidated different steel gross sales, web |
(765 |
) |
(682 |
) |
||||
|
By-product prices relevant to gross sales |
$ |
1,341 |
$ |
1,424 |
||||
|
Gold bought (thousand ounces) |
1,442 |
1,599 |
||||||
|
Complete Gold CAS per ounce (by-product) (1) |
$ |
930 |
$ |
891 |
||||
|
Complete AISC |
$ |
2,851 |
$ |
2,878 |
||||
|
Much less: Consolidated different steel gross sales, web |
(765 |
) |
(682 |
) |
||||
|
By-product AISC |
$ |
2,086 |
$ |
2,196 |
||||
|
Gold bought (thousand ounces) |
1,442 |
1,599 |
||||||
|
Complete Gold AISC per ounce (by-product) (1) |
$ |
1,447 |
$ |
1,373 |
||||
| (1) |
Per ounce measures might not recalculate resulting from rounding. |
Convention Name Info
A convention name will likely be held on Wednesday, April 23, 2025 at 5:30 p.m. Japanese Commonplace Time (3:30 p.m. Mountain Commonplace Time), which is 7:30 a.m. Australian Japanese Commonplace Time on Thursday, April 24, 2025; it’ll even be accessible on the Firm’s web site.
Convention Name Particulars
|
Dial-In Quantity |
833.470.1428 |
|
|
Intl Dial-In Quantity |
404.975.4839 1 |
|
|
Dial-In Entry Code |
628388 |
|
|
Convention Title |
Newmont |
|
|
Replay Quantity |
866.813.9403 |
|
|
Intl Replay Quantity |
929.458.6194 |
|
|
Replay Entry Code |
307601 |
1 For toll-free cellphone numbers, consult with the next hyperlink: https://www.netroadshow.com/occasions/global-numbers?confId=49005
Webcast Particulars
Title: Newmont First Quarter 2025 Earnings Convention Name
URL: https://occasions.q4inc.com/attendee/ 482927766
The webcast supplies will likely be accessible Wednesday, April 23, after North American markets shut, beneath the “Investor Relations” part of the Firm’s web site. Moreover, the convention name will likely be archived for a restricted time on the Firm’s web site.
About Newmont
Newmont is the world’s main gold Firm and producer of copper, zinc, lead, and silver. The Firm’s world-class portfolio of property, prospects and expertise is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the one gold producer listed within the S&P 500 Index and is well known for its principled environmental, social, and governance practices. Newmont is an trade chief in worth creation, supported by strong security requirements, superior execution, and technical experience. Based in 1921, the Firm has been publicly traded since 1925.
At Newmont, our function is to create worth and enhance lives by sustainable and accountable mining. To study extra about Newmont’s sustainability technique and initiatives, go to www.newmont.com .
Cautionary Assertion Relating to Ahead Trying Statements, Together with Outlook Assumptions, and Notes:
This information launch incorporates “forward-looking statements” inside the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended, that are supposed to be lined by the secure harbor created by such sections and different relevant legal guidelines. The place a forward-looking assertion expresses or implies an expectation or perception as to future occasions or outcomes, such expectation or perception is expressed in good religion and believed to have an inexpensive foundation. Nonetheless, such statements are topic to dangers, uncertainties and different elements, which may trigger precise outcomes to vary materially from future outcomes expressed, projected or implied by the forward-looking statements. Ahead-looking statements usually tackle our anticipated future enterprise and monetary efficiency and monetary situation; and infrequently include phrases reminiscent of “anticipate,” “intend,” “plan,” “will,” “would,” “estimate,” “count on,” “consider,” “pending” or “potential.” Ahead-looking statements on this information launch might embody, with out limitation, (i) estimates of future manufacturing and gross sales, together with manufacturing outlook, common future manufacturing; (ii) estimates of future prices relevant to gross sales and all-in sustaining prices; (iii) estimates of future capital expenditures, together with improvement and sustaining capital; (iv) expectations relating to the event of key tasks, together with with respect to manufacturing and capital value estimates; (v) expectations relating to share and debt repurchases; (vi) estimates of future value reductions, synergies, together with pre-tax synergies, financial savings and efficiencies, Full Potential and productiveness enhancements, and future money circulate enhancements by portfolio optimization, (vii) expectations relating to Newmont’s go-forward portfolio is targeted on Tier 1 property; (viii) expectations relating to future investments or divestitures, together with of non-core property and property designated as held on the market; (ix) expectations relating to free money circulate and returns to stockholders, together with with respect to future dividends and future share repurchases; (x) estimates of anticipated reclamation and remediation prices, water therapy prices and different bills, and (xi) different outlook, together with, with out limitation, outlook and different future working, reclamation, remediation, and monetary metrics. Estimates or expectations of future occasions or outcomes are based mostly upon sure assumptions, which can show to be incorrect. Such assumptions, embody, however usually are not restricted to: (i) there being no important change to present geotechnical, metallurgical, hydrological and different bodily circumstances; (ii) allowing, improvement, operations and growth of operations and tasks being in keeping with present expectations and mine plans, together with, with out limitation, receipt of export approvals; (iii) political developments in any jurisdiction wherein the Firm operates being in keeping with its present expectations; (iv) sure trade fee assumptions for the Australian greenback to U.S. greenback and Canadian greenback to U.S. greenback, in addition to different trade charges being roughly in keeping with present ranges; (v) sure worth assumptions for gold, copper, silver, zinc, lead and oil; (vi) costs for key provides; (vii) the accuracy of present mineral reserve, mineral useful resource and mineralized materials estimates; and (viii) different planning assumptions. Uncertainties embody these regarding common macroeconomic uncertainty and altering market circumstances, altering restrictions on the mining trade within the jurisdictions wherein we function, impacts to produce chain, together with worth, availability of products, capacity to obtain provides and gasoline, and impacts of adjustments in rates of interest. Such uncertainties may lead to working websites being positioned into care and upkeep and impression estimates, prices and timing of tasks. Uncertainties in geopolitical circumstances may impression sure planning assumptions, together with, however not restricted to commodity and foreign money costs, prices and provide chain availabilities.
Buyers are additionally reminded that expectations relating to receipt of deferred or contingent consideration in reference to latest asset gross sales are forward-looking statements. No assurance might be supplied that circumstances needed for receipt of deferred consideration will likely be met sooner or later. For added info relating to the phrases and circumstances for receipt of deferred consideration funds and whole consideration estimates, consult with the press releases accessible on the Firm’s web site at www.newmont.com (see the September 10, 2024 press launch for additional particulars relating to the settlement to divest Telfer and Havieron, the October 8, 2024 press launch for additional particulars relating to the settlement to divest Akyem, the November 18, 2024 press launch for additional particulars relating to the settlement to divest Musselwhite, the November 25, 2024 press launch for additional particulars relating to the settlement to divest Éléonore, the December 6, 2024 press launch for additional particulars relating to the settlement to divest CC&V, and the January 27, 2025 press launch for additional particulars relating to the settlement to divest Porcupine). No assurances might be supplied with respect to the receipt of deferred consideration.
Future dividends past the dividend payable on June 20, 2025 to holders of document on the shut of enterprise on Might 27, 2025 haven’t but been authorised or declared by the Board of Administrators, and an annualized dividend payout or dividend yield has not been declared by the Board. Administration’s expectations with respect to future dividends are “forward-looking statements” and are non-binding. The declaration and fee of future dividends stay on the discretion of the Board of Administrators and will likely be decided based mostly on Newmont’s monetary outcomes, stability sheet energy, money and liquidity necessities, future prospects, gold and commodity costs, and different elements deemed related by the Board.
Buyers are additionally cautioned that the extent to which the Firm repurchases its shares, and the timing of such repurchases, will depend on a wide range of elements, together with buying and selling quantity, market circumstances, authorized necessities, enterprise circumstances and different elements. The repurchase program could also be discontinued at any time, and this system doesn’t obligate the Firm to amass any particular variety of shares of its widespread inventory or to repurchase the total $2.0 billion quantity in the course of the 24 month authorization interval.
For a extra detailed dialogue of such dangers and different elements which may impression future trying statements, see the Firm’s Annual Report on Type 10-Okay for the yr ended December 31, 2024 filed with the U.S. Securities and Alternate Fee (the “SEC”) on February 21, 2025, beneath the heading “Danger Elements”, and different elements recognized within the Firm’s experiences filed with the SEC, accessible on the SEC web site or at www.newmont.com . The Firm doesn’t undertake any obligation to launch publicly revisions to any “forward-looking assertion,” together with, with out limitation, outlook, to mirror occasions or circumstances after the date of this information launch, or to mirror the prevalence of unanticipated occasions, besides as could also be required beneath relevant securities legal guidelines. Buyers mustn’t assume that any lack of replace to a beforehand issued “forward-looking assertion” constitutes a reaffirmation of that assertion. Continued reliance on “forward-looking statements” is at traders’ personal danger. Buyers are additionally inspired to assessment our Type 10-Q for the quarter ended March 31, 2025, anticipated to be filed on, or about April 23, 2025.
Discover Relating to Reserve and Useful resource:
Except in any other case acknowledged herein, the reserves acknowledged on this launch symbolize estimates at December 31, 2024, which may very well be economically and legally extracted or produced on the time of the reserve dedication. Estimates of confirmed and possible reserves are topic to appreciable uncertainty. Such estimates are, or will likely be, to a big extent, based mostly on steel costs and interpretations of geologic information obtained from drill holes and different exploration strategies, which information might not essentially be indicative of future outcomes. Moreover, useful resource doesn’t point out confirmed and possible reserves as outlined by the SEC or the Firm’s requirements. Estimates of measured, indicated and inferred useful resource are topic to additional exploration and improvement, and are, subsequently, topic to appreciable uncertainty. Inferred sources, particularly, have a large amount of uncertainty as to their existence and their financial and authorized feasibility. The Firm can’t be sure that any half or components of the useful resource will ever be transformed into reserves. For added info on our reserves and sources, please see Merchandise 2 of the Firm’s Type 10-Okay, filed on or about February 21, 2025, with the SEC.
Notice Relating to Tier 1 Portfolio:
Newmont’s Tier 1 portfolio is targeted on Tier 1 property, consisting of (1) six managed Tier 1 property (Boddington, Tanami, Cadia, Lihir, Peñasquito, and Ahafo), (2) property owned by two non-managed joint ventures at Nevada Gold Mines and Pueblo Viejo, together with 4 Tier 1 property (Carlin, Cortez, Turquoise Ridge, and Pueblo Viejo), (3) three rising Tier 1 property (Merian, Cerro Negro, and Yanacocha), which don’t at present meet the factors for Tier 1 Asset, and (4) an rising Tier 1 district within the Golden Triangle in British Columbia (Pink Chris and Brucejack), which doesn’t at present meet the factors for Tier 1 Asset. Newmont’s Tier 1 portfolio additionally contains attributable manufacturing from the Firm’s fairness curiosity in Lundin Gold (Fruta del Norte). Tier 1 Portfolio value and capital metrics embody the proportional share of the Firm’s curiosity within the Nevada Gold Mines three way partnership.
Tier 1 Asset is outlined as having, on common over such asset’s mine life: (1) manufacturing of over 500,000 GEOs/yr on a consolidated foundation, (2) common all-in-sustaining value (“AISC”)/ozwithin the decrease half of the trade value curve, (3) an anticipated mine lifetime of over 10 years, and (4) operations in nations which might be categorized within the A and B ranking ranges for Moody’s, S&P and Fitch. See under for a definition of GEO and See Merchandise 7, MD&A, beneath the heading “Non-GAAP Monetary Measures” of the newest Type 10-Okay for the definition of AISC.
With respect to different property within the trade, such phrases and metrics are as revealed in public filings of the third-party entities reporting with respect to these property. Newmont’s strategies of calculating working metrics, reminiscent of AISC, and people of third events might differ for equally titled metrics revealed by different events resulting from variations in methodology.
Notice that this classification is predicated on the cheap good religion expectations of administration as of the date hereof based mostly on an evaluation that considers previous efficiency, in addition to expectations over the rest of the lifetime of mine. As such, Tier 1 Asset classifications are forward-looking statements with respect to the common over the lifetime of mine. For instance, an asset might not match one component of such definition resulting from a change over a choose interval, however proceed to be designated as a Tier 1 Asset based mostly on an aggregated evaluation of the asset over the lifetime of mine. Estimates or expectations of future manufacturing, AISC, mine life and nation rankings are based mostly upon sure assumptions, which can show to be incorrect. Such assumptions, embody, however usually are not restricted to: (i) there being no important change to present geotechnical, metallurgical, hydrological and different bodily circumstances; (ii) allowing, improvement, operations and growth of Newmont’s operations and tasks being in keeping with present expectations and mine plans; (iii) political developments being in keeping with present expectations; (iv) sure worth assumptions for gold, copper, silver, zinc, lead and oil; (v) costs for key provides; (vi) the accuracy of present mineral reserve, mineral useful resource and mineralized materials estimates; and (vii) different planning assumptions.
View supply model on businesswire.com: https://www.businesswire.com/information/house/20250423592153/en/
Investor Contact – International
Neil Backhouse, investor.relations@newmont.com
Investor Contact – Asia Pacific
Natalie Worley, apac.investor.relations@newmont.com
Media Contact – International
Shannon Lijek, globalcommunications@newmont.com
Media Contact – Asia Pacific
Rosalie Cobai, australiacommunications@newmont.com
