0001164727FALSE00011647272024-10-232024-10-23

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 23, 2024
Newmont-Color-RGB (1).jpg
Newmont Corporation
(Exact name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)

001-31240
(Commission File Number)

84-1611629
(I.R.S. Employer Identification No.)

6900 E. Layton Avenue, Denver, Colorado 80237
(Address of principal executive offices) (zip code)

(303) 863-7414
(Registrant's telephone number, including area code)

Not applicable
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading
Symbol		Name of each exchange on which registered
Common stock, par value $1.60 per shareNEMNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On October 23, 2024, Newmont Corporation, a Delaware corporation, issued a news release announcing its results and related information for its third quarter ended September 30, 2024. A copy of the news release is attached hereto as Exhibit 99.1 and is incorporated by reference in its entirety into this Item 2.02.

The information furnished in this Item 2.02 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits

Exhibit Number    Description of Exhibit


104    Cover Page Interactive Data File (embedded within the Inline XBRL document)



SIGNATURE


Pursuant to the requirements of the Securities and Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

NEWMONT CORPORATION
Date: October 23, 2024By: /s/ Karyn F. Ovelmen
Karyn F. Ovelmen
Executive Vice President and
Chief Financial Officer


imagea.jpg
NYSE: NEM, ASX: NEM, TSX: NGT, PNGX: NEM
Exhibit 99.1
Newmont Reports Third Quarter 2024 Results
DENVER, October 23, 2024 – Newmont Corporation (NYSE: NEM, ASX: NEM, TSX: NGT, PNGX: NEM) (Newmont or the Company) today announced third quarter 2024 results and declared a third quarter dividend of $0.25 per share.
"In the third quarter, Newmont delivered 2.1 million gold equivalent ounces and generated $760 million in free cash flow from our world-class portfolio," said Tom Palmer, Newmont's President and Chief Executive Officer. “We continue to make meaningful progress on our non-core divestment program with the two transactions announced in the quarter, which are expected to deliver up to $1.5 billion in combined gross proceeds. Our divestiture progress and strong free cash flow generation have positioned us to continue reducing debt and repurchasing shares, creating significant and lasting value for our shareholders.”
Q3 2024 Results1
▪Announced an agreement to sell the Akyem mine in Ghana for up to $1 billion in cash, as well as an agreement to divest the Telfer mine and 70 percent interest in the Havieron project in Western Australia for up to $475 million of gross proceeds
▪Continue to expect to receive at least $2 billion in gross divestiture proceeds from high-quality, non-core asset sales, in addition to the $527 million dollars in cash already received from other investment sales since the beginning of 2024
▪Since the last earnings release, repurchased 9.4 million shares at an average price of $53.16 for a total cost of $500 million, of which $198 million was repurchased during the third quarter2; $750 million of share repurchases completed since program announced in February 2024
▪Newmont's Board authorized an additional $2 billion share repurchase program to be executed at the Company’s discretion, utilizing open market repurchases to occur from time to time throughout the next 24 months3
▪Delivered $786 million in total returns to shareholders through share repurchases and dividend payments2; declared a dividend of $0.25 per share of common stock for the third quarter of 20244
▪Since the last earnings release, reduced nominal debt by $233 million for a cash cost of $210 million, of which $150 million was purchased during the third quarter and $83 million was purchased in October 2024; $483 million of debt retired year-to-date in 2024
▪Produced 1.7 million attributable gold ounces, primarily driven by production of 1.4 million gold ounces from Newmont's Tier 1 Portfolio5, as well as 430 thousand gold equivalent ounces (GEOs)6 from copper, silver, zinc, and lead, including 37 thousand tonnes of copper
▪Generated $1.6 billion of cash from operating activities, net of working capital changes of $(209) million; reported $760 million in Free Cash Flow7
▪Reported Net Income of $924 million, Adjusted Net Income (ANI) of $0.81 per diluted share and Adjusted EBITDA of $2.0 billion7
▪Achieved $500 million annual synergy run-rate following the Newcrest acquisition, reaching Newmont's commitment more than a year ahead of schedule8
▪Positioned to meet Newmont's 2024 production guidance; expect to deliver attributable production of 1.8 million gold ounces at an All-In Sustaining Cost (AISC) of $1,475 per ounce in the fourth quarter9
▪Partnered with MKS PAMP to launch a traceable mine-to-market gold bar; for sale through the largest U.S. wholesaler, providing consumers direct access to Newmont's gold and demonstrating a commitment to transparent sourcing
1 Newmont’s actual condensed consolidated financial results remain subject to completion and final review by management and external auditors for the quarter ended September 30, 2024. Newmont intends to file its Q3 2024 Form 10-Q on or about the close of business on October 24, 2024. See notes at the end of this release and cautionary statement regarding forward-looking statements.
2 Total returns to shareholders includes $302 million of shares repurchased in October 2024.
3 The share repurchase program will be executed at the Company’s discretion, utilizing open market repurchases to occur from time to time throughout authorization period, See cautionary statement regarding forward looking statements at end of this release.
4 Newmont's Board of Directors declared a dividend of $0.25 per share of common stock for the third quarter of 2024, payable on December 23, 2024 to holders of record at the close of business on November 27, 2024.
5 See cautionary statement and notes at the end of this release for definition of Tier 1 Portfolio
6 Gold equivalent ounces (GEOs) calculated using Gold ($1,400/oz.), Copper ($3.50/lb.), Silver ($20.00/oz.), Lead ($1.00/lb.), and Zinc ($1.20/lb.) pricing for 2024.
7 Non-GAAP metrics; see reconciliations at the end of this release.
8Synergies are a management estimate provided for illustrative purposes and should not be considered a GAAP or non-GAAP financial measure. Synergies represent management’s combined estimate of pre-tax synergies, supply chain efficiencies and Full Potential improvements, as a result of the integration of Newmont’s and Newcrest’s businesses that have been monetized for the purposes of the estimation. Such estimates are necessarily imprecise and are based on numerous judgments and assumptions. See cautionary statement at the end of this release regarding forward-looking statements.
9 See discussion of outlook and cautionary statement at the end of this release regarding forward-looking statements.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         1    

imagea.jpg
Summary of Third Quarter Results
20232024
Q1Q2Q3Q4FYQ1Q2Q3YTD
Average realized gold price ($/oz)$1,906 $1,965 $1,920 $2,004 $1,954 $2,090 $2,347 $2,518 $2,316 
Attributable gold production (Moz)1
1.27 1.24 1.29 1.74 5.55 1.68 1.61 1.67 4.95 
Gold CAS ($/oz)2,3
$1,025 $1,054 $1,019 $1,086 $1,050 $1,057 $1,152 $1,207 $1,138 
Gold AISC ($ per ounce)3
$1,376 $1,472 $1,426 $1,485 $1,444 $1,439 $1,562 $1,611 $1,537 
Net income (loss) attributable to Newmont stockholders ($M)
$351 $155 $158 $(3,158)$(2,494)$170 $853 $922 $1,945 
Adjusted net income ($M)4
$320 $266 $286 $452 $1,324 $630 $834 $936 $2,400 
Adjusted net income per share ($/diluted share)4
$0.40 $0.33 $0.36 $0.46 $1.57 $0.55 $0.72 $0.81 $2.08 
Adjusted EBITDA ($M)4
$990 $910 $933 $1,382 $4,215 $1,694 $1,966 $1,967 $5,627 
Cash from operations before working capital ($M)5
$843 $763 $874 $787 $3,267 $1,442 $1,657 $1,846 $4,945 
Net cash from operating activities of continuing operations ($M)
$481 $656 $1,001 $616 $2,754 $776 $1,394 $1,637 $3,807 
Capital expenditures ($M)6
$526 $616 $604 $920 $2,666 $850 $800 $877 $2,527 
Free cash flow ($M)7
$(45)$40 $397 $(304)$88 $(74)$594 $760 $1,280 
Third Quarter 2024 Production and Financial Summary
Attributable gold production1 increased 4 percent to 1,668 thousand ounces from the prior quarter primarily due to higher production at Cerro Negro from a full quarter of resumed operations following the completion of the investigation into the tragic fatalities of two members of the Newmont workforce in the second quarter. Third quarter production also benefited from higher throughput at Brucejack, higher mill utilization at Ahafo following the girth gear replacement during the second quarter and improved production at Yanacocha primarily driven by the benefits of injection leaching.

Fourth quarter production is expected to be the highest of the year driven primarily by improved grades at Peñasquito and Tanami, improved throughput at Lihir after the expected completion of the planned autoclave maintenance and sequential improvements delivered from our non-managed joint venture operation at Nevada Gold Mines.
Average realized gold price was $2,518, an increase of $171 per ounce over the prior quarter. Average realized gold price includes $2,488 per ounce of gross price received, a favorable impact of $34 per ounce mark-to-market on provisionally-priced sales and reductions of $4 per ounce for treatment and refining charges.
Gold CAS2 totaled $1.9 billion for the quarter. Gold CAS per ounce3 increased 5 percent to $1,207 per ounce compared to the prior quarter primarily due to higher direct costs at Lihir, as a result of planned autoclave maintenance, as well as higher direct operating costs primarily due to increased contract services across the portfolio.
Gold AISC per ounce3 increased 3 percent to $1,611 per ounce compared to the prior quarter primarily due to higher CAS.
Attributable gold equivalent ounce (GEO) production from other metals decreased 10 percent to 430 thousand ounces from the prior quarter due to lower production at Peñasquito as a result of lower co-product grades.
CAS from other metals2 totaled $418 million for the quarter. CAS per GEO3 increased 21 percent from the prior quarter to $1,015 per ounce due to higher costs allocated to co-products at Peñasquito, Cadia, and Red Chris, as well as the impact of the shutdown at Telfer due to the tailings remediation work.
AISC per GEO3 increased 11 percent to $1,338 per ounce compared to the prior quarter primarily due to higher CAS from other metals, partially offset by lower treatment and refining costs.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         2    

imagea.jpg
Net income attributable to Newmont stockholders was $922 million or $0.80 per diluted share, an increase of $69 million from the prior quarter primarily due to higher average realized gold prices and higher sales volumes, partially offset by higher unit costs of production, as well as a loss on assets held for sale of $115 million recognized in the third quarter compared to $246 million recognized in the second quarter of 2024.
Adjusted net income4 was $936 million or $0.81 per diluted share, compared to $834 million or $0.72 per diluted share in the prior quarter. Primary adjustments to third quarter net income include a loss on assets held for sale of $115 million primarily related to Telfer and Havieron, reclamation and remediation charges of $33 million, a gain on asset and investment sales of $28 million, Newcrest transaction and integration costs of $17 million, a loss on the fair value of investments of $17 million and a gain of $15 million on the partial redemption of certain Senior Notes.
Adjusted EBITDA4 remained in line with the prior quarter at $2.0 billion.
Consolidated cash from operations before working capital5 increased 11 percent from the prior quarter to $1.8 billion primarily due to higher realized gold prices in the third quarter.
Consolidated net cash from operating activities increased 17 percent from the prior quarter to $1.6 billion primarily due to the improvement in cash from operations. Net cash from operating activities in the third quarter was impacted by a $209 million reduction in operating cash flow due to changes in working capital, including a build in inventory of $202 million mainly due to Lihir and Telfer, and reclamation spend of $107 million, primarily related to the construction of the Yanacocha water treatment facilities. These unfavorable working capital changes were partially offset by favorable timing of accrued liability payments.
Free Cash Flow7 increased 28 percent from the prior quarter to $760 million primarily due to improvements in consolidated net cash from operating activities including reduced working capital impacts, partially offset by higher capital expenditures.
Capital expenditures (net of capital accruals)6 increased 10 percent from the prior quarter to $877 million. Sustaining capital spend increased from the second quarter due to the timing of project spend at Ahafo, Tanami, Boddington, and Lihir. Development capital expenditures in 2024 primarily relate to Tanami Expansion 2, Ahafo North, Cadia Panel Caves, and Cerro Negro expansion projects.
Balance sheet and liquidity remained strong in the third quarter, ending with $3.0 billion of consolidated cash and cash of $86 million included in Assets held for sale, with approximately $7.1 billion of total liquidity; reported net debt to adjusted EBITDA of 0.9x8.
Non-Managed Joint Venture and Equity Method Investments9
Nevada Gold Mines (NGM) attributable gold production decreased 4 percent to 242 thousand ounces, with a 7 percent increase in CAS to $1,311 per ounce3. AISC was largely in line with the prior quarter at $1,675 per ounce3.
Pueblo Viejo (PV) attributable gold production increased 25 percent to 66 thousand ounces compared to the prior quarter. Cash distributions received for the Company's equity method investment in Pueblo Viejo totaled $37 million in the third quarter. Capital contributions of $12 million were made during the quarter related to the expansion project at Pueblo Viejo.
Fruta del Norte attributable gold production is reported on a quarter lag. Production reported in the third quarter of 2024 increased 23 percent to 43 thousand ounces compared to the prior quarter. Cash distributions received from the Company's equity method investment in Fruta del Norte were $15 million for the third quarter.

1 Attributable gold production includes ounces from the Company's equity method investment in Pueblo Viejo (40%) and in Lundin Gold (31.9%).
2 Consolidated Costs applicable to sales (CAS) excludes Depreciation and amortization and Reclamation and remediation.
3 Non-GAAP measure. See end of this release for reconciliation to Costs applicable to sales.
4 Non-GAAP measure. See end of this release for reconciliation to Net income (loss) attributable to Newmont stockholders.
5 Cash from operations before working capital is a non-GAAP metric with the most directly comparable GAAP financial metric being to Net cash provided by (used in) operating activities, as shown reconciled in the Condensed Consolidated Statements of Cash Flows.
6 Capital expenditures refers to Additions to property plant and mine development from the Consolidated Statements of Cash Flows.
7 Non-GAAP measure. See end of this release for reconciliation to Net cash provided by operating activities.
8 Non-GAAP measure. See end of this release for reconciliation.
9 Newmont has a 38.5% interest in Nevada Gold Mines, which is accounted for using the proportionate consolidation method. In addition, Newmont has a 40% interest in Pueblo Viejo, which is accounted for as an equity method investment, as well as a 31.9% interest in Lundin Gold, who wholly owns and operates the Fruta del Norte mine, which is accounted for as an equity method investment on a quarter lag.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         3    

imagea.jpg
Projects Update: Cadia Panel Caves
Cadia Panel Caves (Australia) includes two panel caves expected to extract approximately 5.9 million ounces of gold reserves as well as 1.3 million tonnes of copper reserves1.
•Panel Cave 2-3 (PC2-3) is expected to produce 1.0 million ounces of gold and more than 400 thousand tonnes of copper over its ten-year cave life (2024 - 2034). During peak production (2027 - 2032), PC2-3 is expected to ramp up to deliver between 100 and 150 thousand ounces of gold per year, and between 40 and 60 thousand tonnes of copper per year. First ore was delivered during the fourth quarter of 2023 and cave establishment was achieved during the third quarter of 2024. Total capital cost for PC2-3 is estimated to be between $1.0 and $1.2 billion, which includes more than $900 million spent by Newcrest prior to the acquisition by Newmont in November 2023. Development capital spend by Newmont is estimated to be between $150 to $250 million and continue until the last drawbell is fired expected to be in the second half of 2026. Development capital invested (excluding capitalized interest) since acquisition is $49 million, of which $38 million related to 2024.
•Panel Cave 1-2 (PC1-2) is expected to produce 4.0 million ounces of gold and more than 700 thousand tonnes of copper over its fifteen year cave life (2027 - 2042). During peak production (2030 - 2040), PC1-2 is expected to ramp up to deliver between 275 and 325 thousand ounces of gold per year, and between 35 and 55 thousand tonnes of copper per year. The PC1-2 project is currently under review and a more fulsome update on the project's opportunities and metrics is expected to be provided in 2025. Development capital invested (excluding capitalized interest) since acquisition is $148 million, of which $123 million related to 2024.
•In line with the development of the Cadia Panel Caves, Newmont's current focus is on maximizing existing tailings capacity, repairing the south wall of the Northern Tailings Facility and delivering the Southern Tailings lift. Newmont is undertaking long-term planning and design of its facilities to ensure that the tailings storage facilities are able to support the long mine life of Cadia. This work is intended to create capacity for the development of PC2-3, PC1-2, and future caves, setting up the next several decades of ore feed at Cadia.

Committed to Concurrent Reclamation
Since mines operate for a finite period, careful closure planning is crucial to address the diverse social, economic, environmental, and regulatory impacts associated with the end of mining operations. Newmont’s global Closure Strategy integrates closure planning throughout each operation’s lifespan, aiming to create enduring positive and sustainable legacies that last long after mining ceases. Newmont continues to accrue to reclamation and remediation spend through the year. With $273 million in reclamation spent year to date, we anticipate an additional $225 million to be spent in the fourth quarter of 2024, primarily related to the construction of two new water treatment plants and post-closure management at Yanacocha. The operation’s ongoing closure planning study advanced to the feasibility state in December 2023 and continues to address several complex closure issues, including water management, social impacts and tailings. A long-term water management solution will replace five existing water treatment facilities with two, addressing the watersheds along the continental divide. Certain estimated costs remain subject to revision as ongoing study work and assessment of opportunities that incorporates the latest design considerations remain in progress.





1 PC2-3 and PC1-2 are subsets of Cadia’s total Mineral Reserves, please refer to Newmont’s 10-K for the total Mineral Reserves and Mineral Resources at Cadia for the year ended December 31, 2023, filed with the SEC on February 29, 2024. Project estimates remain subject to change based upon uncertainties, including future market conditions, macroeconomic and geopolitical conditions, changes in interest rates, inflation, commodities and raw materials prices, supply chain disruptions, labor markets, engineering and mine plan assumptions, future funding decisions, consideration of strategic capital allocation, and other factors, which may impact estimated capital expenditures, AISC, and timing of projects. Please see the cautionary statement at the end of this release for additional information regarding forward-looking statements.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         4    

imagea.jpg
Newmont's Fourth Quarter 2024 Outlook
Please see the cautionary statement and footnotes for additional information.
Guidance MetricQ4 2024
Gold ($2,500/oz price assumption)a
Attributable Gold Production (Koz)
1,800
Gold CAS ($/oz)
$1,050
Gold AISC ($/oz)
$1,475
Copper ($8,818/tonne price assumption)a
Copper Production (ktonne)a
35
Copper CAS ($/tonne)b
$4,900
Copper AISC ($/tonne)b
$7,500
Silver ($28.00/oz price assumption)a
Silver Production (Moz)11
Silver CAS ($/oz)b
$9.00
Silver AISC ($/oz)b
$15.00
Lead ($2,094/tonne price assumption)a
Lead Production (ktonne)28
Lead CAS ($/tonne)b
$970
Lead AISC ($/tonne)b
$1,500
Zinc ($2,646/tonne price assumption)a
Zinc Production (ktonne)70
Zinc CAS ($/tonne)b
$1,200
Zinc AISC ($/tonne)b
$2,100
Attributable Capital
Sustaining Capital ($M)a
$550
Development Capital ($M)a
$320
Consolidated Expenses
Exploration & Advanced Projects ($M)$115
General & Administrative ($M)$110
Interest Expense ($M)$80
Depreciation & Amortization ($M)$700
Adjusted Tax Ratec,d
34%
aCo-product metal pricing assumptions in imperial units equate to Copper ($4.00/lb.), Lead ($0.95/lb.), and Zinc ($1.20/lb.).
bConsolidated basis
c The adjusted tax rate excludes certain items such as tax valuation allowance adjustments.
d Assuming average prices of $2,500 per ounce for gold, $4.00 per pound for copper, $28.00 per ounce for silver, $0.95 per pound for lead, and $1.20 per pound for zinc and achievement of production, sales and cost estimates, Newmont estimates its consolidated adjusted effective tax rate related to continuing operations for the fourth quarter of 2024 will be 34%.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         5    


20232024
Operating ResultsQ1Q2Q3Q4FYQ1Q2Q3Q4YTD
Attributable Sales (koz)
Attributable gold ounces sold (1)
1,188 1,197 1,229 1,726 5,340 1,581 1,528 1,551 4,660 
Attributable gold equivalent ounces sold265 251 59 321 896 502 453 412 1,367 
Average Realized Price ($/oz, $/lb)
Average realized gold price$1,906 $1,965 $1,920 $2,004 $1,954 $2,090 $2,347 $2,518 $2,316 
Average realized copper price$4.18 $3.26 $3.68 $3.69 $3.71 $3.72 $4.47 $4.31 $4.17 
Average realized silver price (2)
$19.17 $20.56 N.M.$19.45 $19.97 $20.41 $26.20 $25.98 $23.72 
Average realized lead price (2)
$0.86 $0.92 N.M.$0.90 $0.90 $0.92 $1.05 $0.86 $0.94 
Average realized zinc price (2)
$1.18 $0.73 N.M.$3.71 $0.96 $0.92 $1.31 $1.14 $1.11 
Attributable Gold Production (koz)
Boddington199 209 181 156 745 142 147 137 426 
Tanami63 126 123 136 448 90 99 102 291 
Cadia— — — 97 97 122 117 115 354 
Lihir— — — 134 134 181 141 129 451 
Ahafo128 137 133 183 581 190 184 213 587 
Peñasquito (2)
85 38 — 20 143 45 64 63 172 
Cerro Negro67 48 71 83 269 81 19 60 160 
Yanacocha56 65 87 68 276 91 78 93 262 
Merian (75%)62 40 62 78 242 57 46 43 146 
Brucejack— — — 29 29 37 60 89 186 
Red Chris (70%)
— — — 5 5 6 9 9 24 
Managed Tier 1 Portfolio
660 663 657 989 2,969 1,042 964 1,053 3,059 
Nevada Gold Mines (38.5%)
261 287 300 322 1,170 264 253 242 759 
Pueblo Viejo (40%) (3)
60 51 52 61 224 54 53 66 173 
Fruta Del Norte (31.9%) (4)
— — — — — 21 35 43 99 
Non-Managed Tier 1 Portfolio
321 338 352 383 1,394 339 341 351 1,031 
Total Tier 1 Portfolio
981 1,001 1,009 1,372 4,363 1,381 1,305 1,404 4,090 
Telfer
— — — 43 43 31 14 6 51 
Akyem71 49 75 100 295 69 47 47 163 
CC&V48 41 45 38 172 28 35 38 101 
Porcupine66 60 64 70 260 61 91 67 219 
Éléonore66 48 50 68 232 56 61 54 171 
Musselwhite41 41 48 50 180 49 54 52 155 
Non-Core Assets (5)
292 239 282 369 1,182 294 302 264 860 
Total Attributable Gold Production
1,273 1,240 1,291 1,741 5,545 1,675 1,607 1,668 4,950 
Attributable Co-Product GEO Production (kGEO)
Boddington64 67 58 56 245 49 55 48 152 
Cadia — — — 90 90 118 117 120 355 
Peñasquito (2)
224 189 — 116 529 288 268 229 785 
Red Chris (70%)
— — — 20 20 28 35 32 95 
Tier 1 Portfolio
288 256 58 282 884 483 475 429 1,387 
Telfer— — — 7 7 6 2 1 9 
Non-Core Assets (5)
— — — 7 7 6 2 1 9 
Total Attributable Co-Product GEO Production
288 256 58 289 891 489 477 430 1,396 
Gold CAS Consolidated ($/oz)
Boddington$841 $777 $848 $941 $847 $1,016 $1,022 $1,098 $1,043 
Tanami$936 $829 $655 $702 $759 $902 $1,018 $979 $968 
Cadia$— $— $— $1,079 $1,079 $648 $624 $723 $664 
Lihir$— $— $— $1,117 $1,117 $936 $1,101 $1,619 $1,179 
Ahafo$992 $910 $969 $924 $947 $865 $976 $867 $900 
Peñasquito (2)
$1,199 $831 N.M.$1,306 $1,219 $853 $827 $985 $888 
Cerro Negro$1,146 $1,655 $1,216 $1,132 $1,257 $861 $2,506 $1,535 $1,393 
Yanacocha$1,067 $1,187 $1,057 $975 $1,069 $972 $1,000 $1,072 $1,015 
Merian (75%)$1,028 $1,501 $1,261 $1,155 $1,207 $1,221 $1,546 $1,795 $1,504 
Brucejack$— $— $— $1,898 $1,898 $2,175 $1,390 $970 $1,302 
Red Chris (70%)
$— $— $— $905 $905 $940 $951 $2,228 $1,411 
Managed Tier 1 Portfolio$984 $977 $975 $1,027 $995 $955 $1,048 $1,117 $1,042 
Nevada Gold Mines (38.5%)
$1,109 $1,055 $992 $1,125 $1,070 $1,177 $1,220 $1,311 $1,234 
Non-Managed Tier 1 Portfolio$1,109 $1,055 $992 $1,125 $1,070 $1,177 $1,220 $1,311 $1,234 
Total Tier 1 Portfolio$1,019 $1,001 $980 $1,050 $1,016 $1,000 $1,083 $1,153 $1,080 
Telfer(6)
$— $— $— $1,882 $1,882 $2,632 $2,548 N.M.$2,996 
Akyem$810 $1,087 $1,032 $877 $931 $1,006 $1,716 $2,051 $1,491 
CC&V$1,062 $1,186 $1,253 $1,122 $1,156 $1,394 $1,361 $1,416 $1,391 
Porcupine$1,071 $1,225 $1,189 $1,186 $1,167 $1,042 $1,068 $1,114 $1,076 
Éléonore$1,095 $1,477 $1,338 $1,224 $1,263 $1,441 $1,404 $1,344 $1,398 
Musselwhite$1,313 $1,356 $1,045 $1,068 $1,186 $1,175 $993 $993 $1,050 
Non-Core Assets (5)
$1,043 $1,264 $1,159 $1,214 $1,169 $1,306 $1,398 $1,474 $1,390 
Total Gold CAS (7)
$1,025 $1,054 $1,019 $1,086 $1,050 $1,057 $1,152 $1,207 $1,138 
Total Gold CAS (by-product) (7)
$916 $1,024 $1,022 $1,060 $1,011 $891 $892 $1,052 $945 
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         6    


20232024
Operating Results (continued) Q1Q2Q3Q4FYQ1Q2Q3Q4YTD
Co-Product CAS Consolidated ($/GEO)
Boddington$809 $766 $816 $944 $830 $942 $1,031 $1,017 $994 
Cadia$— $— $— $1,017 $1,017 $594 $552 $685 $609 
Peñasquito (2)
$954 $1,162 N.M.$1,602 $1,283 $843 $904 $990 $905 
Red Chris (70%)
$— $— $— $1,020 $1,020 $1,011 $915 $2,231 $1,372 
Tier 1 Portfolio$918 $1,062 $1,636 $1,235 $1,118 $807 $822 $1,004 $872 
Telfer(6)
$— $— $— $1,703 $1,703 $2,882 $1,940 N.M.$2,795 
Non-Core Assets (5)(6)
$— $— $— $1,703 $1,703 $2,882 $1,940 N.M.$2,795 
Total Co-Product GEO CAS (7)
$918 $1,062 $1,636 $1,254 $1,127 $829 $836 $1,015 $887 
Gold AISC Consolidated ($/oz)
Boddington$1,035 $966 $1,123 $1,172 $1,067 $1,242 $1,237 $1,398 $1,289 
Tanami$1,219 $1,162 $890 $1,046 $1,060 $1,149 $1,276 $1,334 $1,256 
Cadia$— $— $— $1,271 $1,271 $989 $1,064 $1,078 $1,044 
Lihir$— $— $— $1,517 $1,517 $1,256 $1,212 $1,883 $1,416 
Ahafo$1,366 $1,237 $1,208 $1,114 $1,222 $1,010 $1,123 $1,043 $1,057 
Peñasquito (2)
$1,539 $1,078 N.M.$1,670 $1,590 $1,079 $1,038 $1,224 $1,112 
Cerro Negro$1,379 $1,924 $1,438 $1,412 $1,509 $1,120 $3,010 $1,878 $1,725 
Yanacocha$1,332 $1,386 $1,187 $1,198 $1,266 $1,123 $1,217 $1,285 $1,207 
Merian (75%)$1,235 $2,010 $1,652 $1,454 $1,541 $1,530 $2,170 $2,153 $1,926 
Brucejack$— $— $— $2,646 $2,646 $2,580 $1,929 $1,197 $1,642 
Red Chris (70%)
$— $— $— $1,439 $1,439 $1,277 $1,613 $2,633 $1,882 
Managed Tier 1 Portfolio$1,372 $1,386 $1,376 $1,433 $1,397 $1,327 $1,455 $1,509 $1,432 
Nevada Gold Mines (38.5%)
$1,405 $1,388 $1,307 $1,482 $1,397 $1,576 $1,689 $1,675 $1,645 
Non-Managed Tier 1 Portfolio$1,405 $1,388 $1,307 $1,482 $1,397 $1,576 $1,689 $1,675 $1,645 
Tier 1 Portfolio$1,381 $1,387 $1,355 $1,444 $1,397 $1,378 $1,503 $1,540 $1,474 
Telfer(6)
$— $— $— $1,988 $1,988 $3,017 $3,053 N.M.$3,823 
Akyem$1,067 $1,461 $1,332 $1,110 $1,210 $1,254 $1,952 $2,230 $1,716 
CC&V$1,375 $1,631 $1,819 $1,793 $1,644 $1,735 $1,700 $1,712 $1,715 
Porcupine$1,412 $1,587 $1,644 $1,665 $1,577 $1,470 $1,366 $1,451 $1,422 
Éléonore$1,420 $2,213 $2,107 $1,796 $1,838 $1,920 $1,900 $1,924 $1,914 
Musselwhite$1,681 $2,254 $1,715 $1,771 $1,843 $1,766 $1,397 $1,574 $1,570 
Non-Core Assets (5)
$1,359 $1,808 $1,685 $1,629 $1,610 $1,712 $1,770 $1,967 $1,809 
Total Gold AISC (7)
$1,376 $1,472 $1,426 $1,485 $1,444 $1,439 $1,562 $1,611 $1,537 
Total Gold AISC (by-product) (7)
$1,354 $1,531 $1,467 $1,540 $1,480 $1,373 $1,412 $1,542 $1,442 
Co-Product AISC Consolidated ($/GEO)
Boddington$1,019 $977 $1,108 $1,181 $1,067 $1,081 $1,254 $1,168 $1,166 
Cadia$— $— $— $1,342 $1,342 $1,027 $1,024 $880 $977 
Peñasquito (2)
$1,351 $1,581 N.M.$2,098 $1,756 $1,102 $1,164 $1,286 $1,175 
Red Chris (70%)
$— $— $— $1,660 $1,660 $1,400 $1,560 $2,714 $1,885 
Tier 1 Portfolio$1,322 $1,492 $2,422 $1,666 $1,565 $1,120 $1,189 $1,322 $1,203 
Telfer(6)
$— $— $— $2,580 $2,580 $3,745 $2,742 N.M.$3,811 
Non-Core Assets (5)(6)
$— $— $— $2,580 $2,580 $3,745 $2,742 N.M.$3,811 
Total Co-Product GEO AISC (7)
$1,322 $1,492 $2,422 $1,703 $1,579 $1,148 $1,207 $1,338 $1,225 
(1)Attributable gold ounces sold excludes ounces related to the Pueblo Viejo mine, which is 40% owned by Newmont and accounted for as an equity method investment, and the Fruta del Norte mine, which is wholly owned by Lundin Gold whom the Company holds a 31.9% interest and is accounted for as an equity method investment.
(2)For the three months ended September 30, 2023, Peñasquito had no production due to the Peñasquito labor strike. Sales activity recognized in the third quarter of 2023 at Peñasquito is related to adjustments on provisionally priced concentrate sales subject to final settlement. As such, the per ounce metrics are not meaningful ("N.M.") for the current quarter.
(3)Represents attributable gold from Newmont's 40% interest in Pueblo Viejo, which is accounted for as an equity method investment. Attributable gold ounces produced at Pueblo Viejo are not included in attributable gold ounces sold, as noted in footnote (1). Income and expenses of equity method investments are included in Equity income (loss) of affiliates.
(4)Represents attributable gold from Newmont's 31.9% interest in Lundin Gold, who wholly owns and operates the Fruta del Norte mine, which is accounted for on a quarterly-lag as an equity method investment. Attributable gold ounces produced by Lundin Gold represent prior quarter production and are not included in attributable gold ounces sold, as noted in footnote (1). Income and expenses of equity method investments are included in Equity income (loss) of affiliates.
(5)Sites are classified as held for sale as of September 30, 2024.
(6)For the three months ended September 30, 2024, Telfer production was impacted due to the suspension of operations as a result of remediation work on the tailings storage facility. Production resumed at the end of the third quarter. Consequently, unit cost metrics for gold and copper are not meaningful ("N.M").
(7)Non-GAAP measure. See end of this release for reconciliation.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         7    


NEWMONT CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited, in millions except per share)
2023 (1)
2024
Q1Q2Q3Q4FYQ1Q2Q3Q4YTD
Sales$2,679 $2,683 $2,493 $3,957 $11,812 $4,023 $4,402 $4,605 $13,030 
Costs and expenses:
Costs applicable to sales (2)
1,482 1,543 1,371 2,303 6,699 2,106 2,156 2,310 6,572 
Depreciation and amortization461 486 480 681 2,108 654 602 631 1,887 
Reclamation and remediation66 66 166 1,235 1,533 98 94 132 324 
Exploration48 66 78 73 265 53 57 74 184 
Advanced projects, research and development35 44 53 68 200 53 49 47 149 
General and administrative74 71 70 84 299 101 100 113 314 
Loss on assets held for sale— — — — — 485 246 115 846 
Impairment charges
4 4 2 1,881 1,891 12 9 18 39 
Other expense, net4 37 35 441 517 61 50 37 148 
2,174 2,317 2,255 6,766 13,512 3,623 3,363 3,477 10,463 
Other income (expense):
Other income (loss), net99 (17)42 (212)(88)121 100 17 238 
Interest expense, net of capitalized interest(65)(49)(48)(81)(243)(93)(103)(86)(282)
34 (66)(6)(293)(331)28 (3)(69)(44)
Income (loss) before income and mining tax and other items539 300 232 (3,102)(2,031)428 1,036 1,059 2,523 
Income and mining tax benefit (expense)(213)(163)(73)(77)(526)(260)(191)(244)(695)
Equity income (loss) of affiliates25 16 3 19 63 7 (3)60 64 
Net income (loss) from continuing operations351 153 162 (3,160)(2,494)175 842 875 1,892 
Net income (loss) from discontinued operations12 2 1 12 27 4 15 49 68 
Net income (loss)363 155 163 (3,148)(2,467)179 857 924 1,960 
Net loss (income) attributable to noncontrolling interests(12)— (5)(10)(27)(9)(4)(2)(15)
Net income (loss) attributable to Newmont stockholders$351 $155 $158 $(3,158)$(2,494)$170 $853 $922 $1,945 
Net income (loss) attributable to Newmont stockholders:
Continuing operations$339 $153 $157 $(3,170)$(2,521)$166 $838 $873 $1,877 
Discontinued operations12 2 1 12 27 4 15 49 68 
$351 $155 $158 $(3,158)$(2,494)$170 $853 $922 $1,945 
Weighted average common shares (millions):
Basic7947957959788411,153 1,153 1,147 1,151 
Effect of employee stock-based awards1 — 1 1 — — 2 2 1 
Diluted7957957969798411,153 1,155 1,149 1,152 
Net income (loss) attributable to Newmont stockholders per common share: (3)
Basic:
Continuing operations$0.42 $0.19 $0.20 $(3.24)$(3.00)$0.15 $0.73 $0.76 $1.63 
Discontinued operations0.02 — — 0.01 0.03 — 0.01 0.04 0.06 
$0.44 $0.19 $0.20 $(3.23)$(2.97)$0.15 $0.74 $0.80 $1.69 
Diluted:
Continuing operations$0.42 $0.19 $0.20 $(3.24)$(3.00)$0.15 $0.73 $0.76 $1.63 
Discontinued operations0.02 — — 0.01 0.03 — 0.01 0.04 0.06 
$0.44 $0.19 $0.20 $(3.23)$(2.97)$0.15 $0.74 $0.80 $1.69 
(1)Certain amounts and disclosures in the prior year have been reclassified to conform to the current year presentation.
(2)Excludes Depreciation and amortization and Reclamation and remediation.
(3)For the three months and year ended December 31, 2023, potentially dilutive shares were excluded in the computation of diluted loss per common share attributable to Newmont stockholders as they were antidilutive.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         8    


NEWMONT CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited, in millions)
2023 (1)
2024
MARJUNSEPDECMARJUNSEPDEC
ASSETS
Cash and cash equivalents$2,657 $2,829 $3,190 $3,002 $2,336 $2,602 $3,016 
Trade receivables
348 185 78 734 782 955 974 
Investments
847 409 24 23 23 50 43 
Inventories1,067 1,111 1,127 1,663 1,385 1,467 1,487 
Stockpiles and ore on leach pads905 858 829 979 745 681 688 
Derivative assets— — — 198 114 71 42 
Other current assets735 742 707 913 765 874 753 
Assets held for sale
— — — — 5,656 5,370 5,574 
Current assets6,559 6,134 5,955 7,512 11,806 12,070 12,577 
Property, plant and mine development, net24,097 24,284 24,474 37,563 33,564 33,655 33,697 
Investments3,216 3,172 3,133 4,143 4,138 4,141 4,150 
Stockpiles and ore on leach pads1,691 1,737 1,740 1,935 1,837 2,002 2,114 
Deferred income tax assets170 166 138 268 210 273 229 
Goodwill1,971 1,971 1,971 3,001 2,792 2,792 2,721 
Derivative assets— — — 444 412 181 161 
Other non-current assets670 669 673 640 576 564 526 
Total assets$38,374 $38,133 $38,084 $55,506 $55,335 $55,678 $56,175 
LIABILITIES
Accounts payable$648 $565 $651 $960 $698 $683 $772 
Employee-related benefits302 313 345 551 414 457 542 
Income and mining taxes payable213 155 143 88 136 264 317 
Lease and other financing obligations96 96 94 114 99 104 112 
Debt— — — 1,923 — — — 
Other current liabilities1,493 1,564 1,575 2,362 1,784 1,819 2,081 
Liabilities held for sale
— — — — 2,351 2,405 2,584 
Current liabilities2,752 2,693 2,808 5,998 5,482 5,732 6,408 
Debt5,572 5,574 5,575 6,951 8,933 8,692 8,550 
Lease and other financing obligations451 441 418 448 436 429 437 
Reclamation and remediation liabilities6,603 6,604 6,714 8,167 6,652 6,620 6,410 
Deferred income tax liabilities1,800 1,795 1,696 2,987 3,094 3,046 2,883 
Employee-related benefits395 399 397 655 610 616 632 
Silver streaming agreement805 786 787 779 753 733 721 
Other non-current liabilities437 426 429 316 300 247 238 
Total liabilities18,815 18,718 18,824 26,301 26,260 26,115 26,279 
EQUITY
Common stock1,281 1,281 1,281 1,854 1,855 1,851 1,840 
Treasury stock(261)(261)(263)(264)(274)(274)(276)
Additional paid-in capital17,386 17,407 17,425 30,419 30,436 30,394 30,228 
Accumulated other comprehensive income (loss)23 13 8 14 (16)(7)21 
(Accumulated deficit) Retained earnings948 785 623 (2,996)(3,111)(2,585)(2,101)
Newmont stockholders' equity19,377 19,225 19,074 29,027 28,890 29,379 29,712 
Noncontrolling interests182 190 186 178 185 184 184 
Total equity19,559 19,415 19,260 29,205 29,075 29,563 29,896 
Total liabilities and equity$38,374 $38,133 $38,084 $55,506 $55,335 $55,678 $56,175 
(1)Certain amounts and disclosures in the prior year have been reclassified to conform to the current year presentation.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         9    


NEWMONT CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited, in millions)
2023 (1)
2024
Q1Q2Q3Q4FYQ1Q2Q3Q4YTD
Operating activities:
Net income (loss)$363 $155 $163 $(3,148)$(2,467)$179 $857 $924 $1,960 
Non-cash adjustments:
Depreciation and amortization461 486 480 681 2,108 654 602 631 1,887 
Loss on assets held for sale— — — — — 485 246 115 846 
Net loss (income) from discontinued operations(12)(2)(1)(12)(27)(4)(15)(49)(68)
Reclamation and remediation61 59 167 1,219 1,506 94 88 124 306 
(Gain) loss on asset and investment sales, net(36)— 2 231 197 (9)(55)28 (36)
Stock-based compensation19 23 16 22 80 21 23 22 66 
Deferred income taxes15 6 (24)(101)(104)53 (95)7 (35)
Change in fair value of investments(41)42 41 5 47 (31)9 (17)(39)
Impairment charges (1)
4 4 2 1,881 1,891 12 9 18 39 
Other non-cash adjustments (1)
9 (10)28 9 36 (12)(12)43 19 
Cash from operations before working capital (2)
843 763 874 787 3,267 1,442 1,657 1,846 4,945 
Net change in operating assets and liabilities(362)(107)127 (171)(513)(666)(263)(209)(1,138)
Net cash provided by (used in) operating activities of continuing operations481 656 1,001 616 2,754 776 1,394 1,637 3,807 
Net cash provided by (used in) operating activities of discontinued operations— 7 2 — 9 — 34 11 45 
Net cash provided by (used in) operating activities481 663 1,003 616 2,763 776 1,428 1,648 3,852 
Investing activities:
Additions to property, plant and mine development(526)(616)(604)(920)(2,666)(850)(800)(877)(2,527)
Proceeds from asset and investment sales181 33 5 15 234 3 189 153 345 
Purchases of investments(525)(17)(3)(6)(551)— (60)(2)(62)
Return of investment from equity method investees— 30 — 6 36 25 16 14 55 
Contributions to equity method investees(41)(23)(26)(18)(108)(15)(5)(15)(35)
Proceeds from maturities of investments557 424 374 8 1,363 — — 28 28 
Acquisitions, net — — — 668 668 — — — — 
Other12 11 1 (2)22 39 19 (16)42 
Net cash provided by (used in) investing activities of continuing operations(342)(158)(253)(249)(1,002)(798)(641)(715)(2,154)
Net cash provided by (used in) investing activities of discontinued operations— — — — — — — 153 153 
Net cash provided by (used in) investing activities(342)(158)(253)(249)(1,002)(798)(641)(562)(2,001)
Financing activities:
Repayment of debt— — — — — (3,423)(227)(133)(3,783)
Proceeds from issuance of debt, net— — — — — 3,476 — — 3,476 
Dividends paid to common stockholders(318)(318)(318)(461)(1,415)(288)(289)(286)(863)
Repurchases of common stock— — — — — — (104)(344)(448)
Distributions to noncontrolling interests(34)(32)(41)(43)(150)(41)(36)(36)(113)
Funding from noncontrolling interests41 34 32 31 138 22 31 34 87 
Payments on lease and other financing obligations(16)(16)(16)(19)(67)(18)(22)(22)(62)
Payments for withholding of employee taxes related to stock-based compensation(22)— (2)(1)(25)(10)— (2)(12)
Other(1)(2)(36)(45)(84)(17)(11)— (28)
Net cash provided by (used in) financing activities(350)(334)(381)(538)(1,603)(299)(658)(789)(1,746)
Effect of exchange rate changes on cash, cash equivalents and restricted cash(8)4 (5)7 (2)(3)(11)(1)(15)
Net change in cash, cash equivalents and restricted cash, including cash and restricted cash reclassified to assets held for sale
(219)175 364 (164)156 (324)118 296 90 
Less: cash and restricted cash reclassified to assets held for sale (3)
— — — — — (395)137 118 (140)
Net change in cash, cash equivalents and restricted cash(219)175 364 (164)156 (719)255 414 (50)
Cash, cash equivalents and restricted cash at beginning of period2,944 2,725 2,900 3,264 2,944 3,100 2,381 2,636 3,100 
Cash, cash equivalents and restricted cash at end of period$2,725 $2,900 $3,264 $3,100 $3,100 $2,381 $2,636 $3,050 $3,050 
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents$2,657 $2,829 $3,190 $3,002 $3,002 $2,336 $2,602 $3,016 $3,016 
Restricted cash included in Other current assets1 1 1 11 11 6 6 3 3 
Restricted cash included in Other non-current assets67 70 73 87 87 39 28 31 31 
Total cash, cash equivalents and restricted cash$2,725 $2,900 $3,264 $3,100 $3,100 $2,381 $2,636 $3,050 $3,050 
(1)Certain amounts and disclosures in the prior year have been reclassified to conform to the current year presentation.
(2)Cash from operations before working capital is a non-GAAP metric with the most directly comparable GAAP financial metric being to Net cash provided by (used in) operating activities, as shown reconciled above.
(3)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for assets held for sale. As a result, the related assets and liabilities as of September 30, 2024, including $86 of Cash and cash equivalents and $54 of restricted cash, previously included in Other current assets and Other non-current assets, were reclassified to Assets held for sale and Liabilities held for sale, respectively.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         10    


Non-GAAP Financial Measures
Non-GAAP financial measures are intended to provide additional information only and do not have any standard meaning prescribed by GAAP. These measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Refer to Non-GAAP Financial Measures within Part II, Item 7 within our Form 10-K for the year ended December 31, 2023, filed with the SEC on February 29, 2024 for further information on the non-GAAP financial measures presented below, including why management believes that its presentation of non-GAAP financial measures provides useful information to investors.
Adjusted net income (loss)
Net income (loss) attributable to Newmont stockholders is reconciled to Adjusted net income (loss) as follows:
Three Months Ended
September 30, 2024		Nine Months Ended
September 30, 2024
per share data (1)
per share data (1)
basicdilutedbasicdiluted
Net income (loss) attributable to Newmont stockholders$922 $0.80 $0.80 $1,945 $1.69 $1.69 
Net loss (income) attributable to Newmont stockholders from discontinued operations (49)(0.04)(0.04)(68)(0.06)(0.06)
Net income (loss) attributable to Newmont stockholders from continuing operations
873 0.76 0.76 1,877 1.63 1.63 
Loss on assets held for sale (2)
115 0.10 0.10 846 0.73 0.73 
Newcrest transaction and integration costs (3)
17 0.01 0.01 62 0.06 0.06 
Reclamation and remediation charges (4)
33 0.03 0.03 39 0.03 0.03 
Impairment charges (5)
18 0.02 0.02 39 0.03 0.03 
Change in fair value of investments (6)
(17)(0.01)(0.01)(39)(0.04)(0.04)
(Gain) loss on asset and investment sales, net (7)
28 0.03 0.03 (36)(0.04)(0.04)
Settlement costs (8)
7 — — 33 0.03 0.03 
Gain on debt extinguishment, net (9)
(15)(0.01)(0.01)(29)(0.03)(0.03)
Restructuring and severance (10)
5 — — 20 0.02 0.02 
Tax effect of adjustments (11)
(62)(0.06)(0.06)(296)(0.25)(0.25)
Valuation allowance and other tax adjustments (12)
(66)(0.05)(0.06)(116)(0.08)(0.09)
Adjusted net income (loss)$936 $0.82 $0.81 $2,400 $2.09 $2.08 
Weighted average common shares (millions): (13)
1,147 1,149 1,151 1,152 
(1)Per share measures may not recalculate due to rounding.
(2)Loss on assets held for sale, included in Loss on assets held for sale, represents the loss recorded for the six non-core assets and the development project that met the requirements to be presented as held for sale in 2024.
(3)Newcrest transaction and integration costs, included in Other expense, net, represents costs incurred related to Newmont's acquisition of Newcrest completed in 2023 as well as subsequent integration costs.
(4)Reclamation and remediation charges, included in Reclamation and remediation, represent revisions to reclamation and remediation plans at the Company's former operating properties and historic mining operations that have entered the closure phase and have no substantive future economic value.
(5)Impairment charges, included in Other expense, net, represents non-cash write-downs of various assets that are no longer in use and materials and supplies inventories.
(6)Change in fair value of investments, included in Other income (loss), net, primarily represents unrealized gains and losses related to the Company's investment in current and non-current marketable and other equity securities.
(7)(Gain) loss on asset and investment sales, net, included in Other income (loss), net, primarily represents the gain recognized on the sale of the Streaming Credit Facility Agreement ("SCFA") in the second quarter and the purchase and sale of foreign currency bonds during the nine months ended September 30, 2024, partially offset by the loss on the abandonment of the near-pit sizing and conveying system at Peñasquito in the third quarter.
(8)Settlement costs, included in Other expense, net, are primarily comprised of wind down and demobilization costs related to the French Guiana project.
(9)Gain on debt extinguishment, net, included in Other income (loss), net, primarily represents the net gain on the partial redemption of certain Senior Notes.
(10)Restructuring and severance, included in Other expense, net, primarily represents severance and related costs associated with significant organizational or operating model changes implemented by the Company.
(11)The tax effect of adjustments, included in Income and mining tax benefit (expense), represents the tax effect of adjustments in footnotes (2) through (10), as described above, and are calculated using the applicable regional tax rate.
(12)Valuation allowance and other tax adjustments, included in Income and mining tax benefit (expense), is recorded for items such as foreign tax credits, capital losses, disallowed foreign losses, and the effects of changes in foreign currency exchange rates on deferred tax assets and deferred tax liabilities. The adjustment for the three and nine months ended September 30, 2024 reflects the net increase or (decrease) to net operating losses, capital losses, tax credit carryovers, and other deferred tax assets subject to valuation allowance of $(36) and $(81), the effects of changes in foreign exchange rates on deferred tax assets and liabilities of $25 and $(33), net reductions to the reserve for uncertain tax positions of $(6) and $(58), recording of a deferred tax liability for the outside basis difference at Akyem of $(36) and $44 due to the status change to held-for-sale, and other tax adjustments of $(13) and $12.
(13)Adjusted net income (loss) per diluted share is calculated using diluted common shares in accordance with GAAP.

NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         11    


Three Months Ended
September 30, 2023		Nine Months Ended
September 30, 2023
per share data (1)
per share data (1)
basicdilutedbasicdiluted
Net income (loss) attributable to Newmont stockholders$158 $0.20 $0.20 $664 $0.84 $0.84 
Net loss (income) attributable to Newmont stockholders from discontinued operations(1)— — (15)(0.02)(0.02)
Net income (loss) attributable to Newmont stockholders from continuing operations157 0.20 0.20 649 0.82 0.82 
Reclamation and remediation charges (2)
104 0.14 0.14 102 0.13 0.13 
Change in fair value of investments (3)
41 0.05 0.05 42 0.05 0.05 
Newcrest transaction-related costs (4)
16 0.02 0.02 37 0.05 0.05 
(Gain) loss on asset and investment sales, net (5)
2 — — (34)(0.04)(0.04)
Restructuring and severance (6)
7 0.01 0.01 19 0.03 0.03 
Impairment charges (7)
2 — — 10 0.01 0.01 
Settlement costs (8)
2 — — 2 — — 
Other (9)
(1)— — (5)— — 
Tax effect of adjustments (10)
(47)(0.06)(0.06)(48)(0.07)(0.07)
Valuation allowance and other tax adjustments (11)
3 — — 98 0.12 0.12 
Adjusted net income (loss)$286 $0.36 $0.36 $872 $1.10 $1.10 
Weighted average common shares (millions): (12)
795 796 795 795 
(1)Per share measures may not recalculate due to rounding.
(2)Reclamation and remediation charges, included in Reclamation and remediation, represent revisions to reclamation and remediation plans at the Company's former operating properties and historic mining operations that have entered the closure phase and have no substantive future economic value.
(3)Change in fair value of investments, included in Other income (loss), net, primarily represents unrealized gains and losses related to the Company's investment in current and non-current marketable and other equity securities.
(4)Newcrest transaction-related costs, included in Other expense, net, primarily represents costs incurred related to the Newcrest Transaction.
(5)(Gain) loss on asset and investment sales, net, included in Other income (loss), net, primarily represents the net gain recognized on the exchange of the previously held Maverix investment for Triple Flag and the subsequent sale of the Triple Flag investment.
(6)Restructuring and severance, included in Other expense, net, primarily represents severance and related costs associated with significant organizational or operating model changes implemented by the Company.
(7)Impairment charges, included in Other expense, net, represents non-cash write-downs of various assets that are no longer in use and materials and supplies inventories.
(8)Settlement costs, included in Other expense, net, are primarily comprised of litigation expenses.
(9)Other, included in Other income (loss), net, represents income received on the favorable settlement of certain matters that were outstanding at the time of sale of the related investment in 2022.
(10)The tax effect of adjustments, included in Income and mining tax benefit (expense), represents the tax effect of adjustments in footnotes (2) through (9), as described above, and are calculated using the applicable regional tax rate.
(11)Valuation allowance and other tax adjustments, included in Income and mining tax benefit (expense), is recorded for items such as foreign tax credits, capital losses, disallowed foreign losses, and the effects of changes in foreign currency exchange rates on deferred tax assets and deferred tax liabilities. The adjustment for the three and nine months ended September 30, 2023 reflects the net increase or (decrease) to net operating losses, capital losses, tax credit carryovers, and other deferred tax assets subject to valuation allowance of $69 and $126, the effects of changes in foreign exchange rates on deferred tax assets and liabilities of $(73) and $(52), net reductions to the reserve for uncertain tax positions of $4 and $18, other tax adjustments of $3 and $6.
(12)Adjusted net income (loss) per diluted share is calculated using diluted common shares in accordance with GAAP.

NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         12    


Earnings before interest, taxes, depreciation and amortization and Adjusted earnings before interest, taxes, depreciation and amortization
Net income (loss) attributable to Newmont stockholders is reconciled to EBITDA and Adjusted EBITDA as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Net income (loss) attributable to Newmont stockholders$922 $158 $1,945 $664 
Net income (loss) attributable to noncontrolling interests2 5 15 17 
Net (income) loss from discontinued operations
(49)(1)(68)(15)
Equity loss (income) of affiliates(60)(3)(64)(44)
Income and mining tax expense (benefit)244 73 695 449 
Depreciation and amortization631 480 1,887 1,427 
Interest expense, net of capitalized interest
86 48 282 162 
EBITDA$1,776 $760 $4,692 $2,660 
Adjustments:
Loss on assets held for sale (1)
$115 $— $846 $— 
Newcrest transaction and integration costs (2)
17 16 62 37 
Reclamation and remediation charges (3)
33 104 39 102 
Impairment charges (4)
18 2 39 10 
Change in fair value of investments (5)
(17)41 (39)42 
(Gain) loss on asset and investment sales, net (6)
28 2 (36)(34)
Settlement costs (7)
7 2 33 2 
Gain on debt extinguishment, net (8)
(15)— (29)— 
Restructuring and severance (9)
5 7 20 19 
Other (10)
— (1)— (5)
Adjusted EBITDA$1,967 $933 $5,627 $2,833 
(1)Loss on assets held for sale, included in Loss on assets held for sale, represents the loss recorded for the six non-core assets and the development project that met the requirements to be presented as held for sale in 2024.
(2)Newcrest transaction and integration costs, included in Other expense, net, represents costs incurred related to Newmont's acquisition of Newcrest completed in 2023 as well as subsequent integration costs.
(3)Reclamation and remediation charges, included in Reclamation and remediation, represent revisions to reclamation and remediation plans at the Company's former operating properties and historic mining operations that have entered the closure phase and have no substantive future economic value.
(4)Impairment charges, included in Other expense, net, represents non-cash write-downs of various assets that are no longer in use and materials and supplies inventories.
(5)Change in fair value of investments, included in Other income (loss), net, primarily represents unrealized gains and losses related to the Company's investments in current and non-current marketable and other equity securities.
(6)(Gain) loss on asset and investment sales, net, included in Other income (loss), net, in 2024 primarily represents the gain recognized on the sale of the Streaming Credit Facility Agreement ("SCFA") in the second quarter and the purchase and sale of foreign currency bonds during the nine months ended September 30, 2024, partially offset by the loss on the abandonment of the near-pit sizing and conveying system at Peñasquito in the third quarter. For 2023, primarily comprised of the net gain recognized on the exchange of the previously held Maverix investment for Triple Flag and the subsequent sale of the Triple Flag investment.
(7)Settlement costs, included in Other expense, net, are primarily comprised of wind-down and demobilization costs related to the French Guiana project in 2024 and litigation expenses in 2023.
(8)Gain on debt extinguishment, net, included in Other income (loss), net, primarily represents the net gain on the partial redemption of certain Senior Notes in 2024.
(9)Restructuring and severance, included in Other expense, net, primarily represents severance and related costs associated with significant organizational or operating model changes implemented by the Company for all periods presented.
(10)Other, included in Other income (loss), net, in 2023, represents income received during the first quarter of 2023, on the favorable settlement of certain matters that were outstanding at the time of sale of the related investment in 2022.

NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         13    


Free Cash Flow
The following table sets forth a reconciliation of Free Cash Flow, a non-GAAP financial measure, to Net cash provided by (used in) operating activities, which the Company believes to be the GAAP financial measure most directly comparable to Free Cash Flow, as well as information regarding Net cash provided by (used in) investing activities and Net cash provided by (used in) financing activities.
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Net cash provided by (used in) operating activities (1)
$1,648 $1,003 $3,852 $2,147 
Less: Net cash used in (provided by) operating activities of discontinued operations(11)(2)(45)(9)
Net cash provided by (used in) operating activities of continuing operations1,637 1,001 3,807 2,138 
Less: Additions to property, plant and mine development(877)(604)(2,527)(1,746)
Free Cash Flow$760 $397 $1,280 $392 
Net cash provided by (used in) investing activities (2)
$(562)$(253)$(2,001)$(753)
Net cash provided by (used in) financing activities$(789)$(381)$(1,746)$(1,065)
(1)Includes payment of $291 for stamp duty tax, related to the Newcrest transaction, in the first quarter of 2024.
(2)Net cash provided by (used in) investing activities includes Additions to property, plant and mine development, which is included in the Company’s computation of Free Cash Flow.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         14    


Attributable Free Cash Flow
Management uses Attributable Free Cash Flow as a non-GAAP measure to analyze cash flows generated from operations that are attributable to the Company. Attributable Free Cash Flow is Net cash provided by (used in) operating activities after deducting net cash flows from operations attributable to noncontrolling interests less Net cash provided by (used in) operating activities of discontinued operations after deducting net cash flows from discontinued operations attributable to noncontrolling interests less Additions to property, plant and mine development after deducting property, plant and mine development attributable to noncontrolling interests. The Company believes that Attributable Free Cash Flow is useful as one of the bases for comparing the Company’s performance with its competitors. Although Attributable Free Cash Flow and similar measures are frequently used as measures of cash flows generated from operations by other companies, the Company’s calculation of Attributable Free Cash Flow is not necessarily comparable to such other similarly titled captions of other companies.
The presentation of non-GAAP Attributable Free Cash Flow is not meant to be considered in isolation or as an alternative to Net income attributable to Newmont stockholders as an indicator of the Company’s performance, or as an alternative to Net cash provided by (used in) operating activities as a measure of liquidity as those terms are defined by GAAP, and does not necessarily indicate whether cash flows will be sufficient to fund cash needs. The Company’s definition of Attributable Free Cash Flow is limited in that it does not represent residual cash flows available for discretionary expenditures due to the fact that the measure does not deduct the payments required for debt service and other contractual obligations or payments made for business acquisitions. Therefore, the Company believes it is important to view Attributable Free Cash Flow as a measure that provides supplemental information to the Company’s Condensed Consolidated Statements of Cash Flows.
The following tables set forth a reconciliation of Attributable Free Cash Flow, a non-GAAP financial measure, to Net cash provided by (used in) operating activities, which the Company believes to be the GAAP financial measure most directly comparable to Attributable Free Cash Flow, as well as information regarding Net cash provided by (used in) investing activities and Net cash provided by (used in) financing activities.
Three Months Ended September 30, 2024Nine Months Ended September 30, 2024
Consolidated
Attributable to noncontrolling interests (1)
Attributable to Newmont StockholdersConsolidated
Attributable to noncontrolling interests (1)
Attributable to Newmont Stockholders
Net cash provided by (used in) operating activities$1,648 $(8)$1,640 $3,852 $(25)$3,827 
Less: Net cash used in (provided by) operating activities of discontinued operations(11)— (11)(45)— (45)
Net cash provided by (used in) operating activities of continuing operations1,637 (8)1,629 3,807 (25)3,782 
Less: Additions to property, plant and mine development (2)
(877)3 (874)(2,527)15 (2,512)
Free Cash Flow$760 $(5)$755 $1,280 $(10)$1,270 
Net cash provided by (used in) investing activities (3)
$(562)$(2,001)
Net cash provided by (used in) financing activities$(789)$(1,746)
(1)Adjustment to eliminate a portion of Net cash provided by (used in) operating activities and Additions to property, plant and mine development attributable to noncontrolling interests, which relates to Merian (25%) for the three and nine months ended September 30, 2024.
(2)Merian had total consolidated Additions to property, plant and mine development of $13 and $62, on a cash basis for the three and nine months ended September 30, 2024, respectively.
(3)Net cash provided by (used in) investing activities includes Additions to property, plant and mine development, which is included in the Company’s computation of Free Cash Flow.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         15    


Three Months Ended September 30, 2023Nine Months Ended September 30, 2023
Consolidated
Attributable to noncontrolling interests (1)
Attributable to Newmont StockholdersConsolidated
Attributable to noncontrolling interests (1)
Attributable to Newmont Stockholders
Net cash provided by (used in) operating activities$1,003 $(17)$986 $2,147 $(29)$2,118 
Less: Net cash used in (provided by) operating activities of discontinued operations(2)— (2)(9)— (9)
Net cash provided by (used in) operating activities of continuing operations1,001 (17)984 2,138 (29)2,109 
Less: Additions to property, plant and mine development (2)
(604)6 (598)(1,746)15 (1,731)
Free Cash Flow$397 $(11)$386 $392 $(14)$378 
Net cash provided by (used in) investing activities (3)
$(253)$(753)
Net cash provided by (used in) financing activities$(381)$(1,065)
(1)Adjustment to eliminate a portion of Net cash provided by (used in) operating activities and Additions to property, plant and mine development attributable to noncontrolling interests, which relates to Merian (25%) for the three and nine months ended September 30, 2023.
(2)Merian had total consolidated Additions to property, plant and mine development of $26 and $60 on a cash basis for the three and nine months ended September 30, 2023, respectively.
(3)Net cash provided by (used in) investing activities includes Additions to property, plant and mine development, which is included in the Company’s computation of Free Cash Flow.
Net Debt
Net Debt is calculated as Debt and Lease and other financing obligations less Cash and cash equivalents, as presented on the Condensed Consolidated Balance Sheets. Cash and cash equivalents are subtracted from Debt and Lease and other financing obligations as these could be used to reduce the Company's debt obligations.
The following table sets forth a reconciliation of Net Debt, a non-GAAP financial measure, to Debt and Lease and other financing obligations, which the Company believes to be the GAAP financial measures most directly comparable to Net Debt.
At September 30,
2024		At December 31,
2023
Debt$8,550 $8,874 
Lease and other financing obligations549 562 
Less: Cash and cash equivalents(3,016)(3,002)
Less: Cash and cash equivalents included in assets held for sale (1)
(86)— 
Net debt$5,997 $6,434 

(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for assets held for sale. As a result, the related Cash and cash equivalents was reclassified to Assets held for sale.

NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         16    


Costs applicable to sales per ounce/gold equivalent ounce
Costs applicable to sales per ounce/gold equivalent ounce are calculated by dividing the costs applicable to sales of gold and other metals by gold ounces or gold equivalent ounces sold, respectively. These measures are calculated for the periods presented on a consolidated basis.
The following tables reconcile these non-GAAP measures to the most directly comparable GAAP measures.
Costs applicable to sales per ounce
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Costs applicable to sales (1)(2)
$1,892 $1,273 $5,359 $3,789 
Gold sold (thousand ounces)1,568 1,250 4,710 3,669 
Costs applicable to sales per ounce (3)
$1,207 $1,019 $1,138 $1,033 
(1)Includes by-product credits of $43 and $28 during the three months ended September 30, 2024 and 2023, respectively, and $127 and $86 during the nine months ended September 30, 2024 and 2023, respectively.
(2)Excludes Depreciation and amortization and Reclamation and remediation.
(3)Per ounce measures may not recalculate due to rounding.
Costs applicable to sales per gold equivalent ounce
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Costs applicable to sales (1)(2)
$418 $98 $1,213 $607 
Gold equivalent ounces sold - other metals (thousand ounces) (3)
412 59 1,367 575 
Costs applicable to sales per gold equivalent ounce (4)
$1,015 $1,636 $887 $1,056 
(1)Includes by-product credits of $12 and $1 during the three months ended September 30, 2024 and 2023, respectively, and $42 and $5 during the nine months ended September 30, 2024 and 2023, respectively.
(2)Excludes Depreciation and amortization and Reclamation and remediation.
(3)Gold equivalent ounces is calculated as pounds or ounces produced multiplied by the ratio of the other metals price to the gold price, using Gold ($1,400/oz.), Copper ($3.50/lb.), Silver ($20.00/oz.), Lead ($1.00/lb.) and Zinc ($1.20/lb.) for each of 2024 and 2023.
(4)Per ounce measures may not recalculate due to rounding.
Costs applicable to sales per gold ounce for Nevada Gold Mines (NGM)
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Cost applicable to sales, NGM (1)
$320 $298 $941 $888 
Gold sold (thousand ounces), NGM244 301 763 847 
Costs applicable to sales per ounce, NGM (2)
$1,311 $992 $1,234 $1,049 
(1)Excludes Depreciation and amortization and Reclamation and remediation.
(2)Per ounce measures may not recalculate due to rounding.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         17    


All-In Sustaining Costs
All-in sustaining costs represent the sum of certain costs, recognized as GAAP financial measures, that management considers to be associated with production. All-in sustaining costs per ounce amounts are calculated by dividing all-in sustaining costs by gold ounces or gold equivalent ounces sold.
Three Months Ended
September 30, 2024
Costs Applicable to Sales(1)(2)(3)
Reclamation Costs(4)
Advanced Projects, Research and Development and Exploration(5)
General and Administrative
Other Expense, Net(6)
Treatment and Refining Costs
Sustaining Capital and Lease Related Costs(7)(8)
All-In Sustaining CostsOunces (000) Sold
All-In Sustaining Costs Per oz.(9)
Gold
Brucejack (10)
$98 $1 $7 $— $— $— $16 $122 101 $1,197 
Red Chris (10)
21 — — — — (2)4 23 8 $2,633 
Peñasquito54 2 — — — 3 9 68 56 $1,224 
Merian
113 2 6 — — 1 14 136 64 $2,153 
Cerro Negro91 2 — — 1 — 18 112 60 $1,878 
Yanacocha96 11 2 — — — 5 114 89 $1,285 
Boddington136 4 — — — 3 32 175 124 $1,398 
Tanami98 1 3 — — — 31 133 100 $1,334 
Cadia (10)
80 — 2 — — — 39 121 113 $1,078 
Lihir (10)
206 1 2 — (1)— 31 239 127 $1,883 
Ahafo192 5 — — — — 34 231 221 $1,043 
Nevada Gold Mines320 4 3 4 1 2 75 409 244 $1,675 
Corporate and Other (11)
1 — 23 95 6 — 4 129 — $— 
Held for sale (12)
CC&V54 2 — — — — 8 64 38 $1,712 
Musselwhite50 1 1 — — — 27 79 50 $1,574 
Porcupine78 3 2 — — — 19 102 70 $1,451 
Éléonore70 1 3 — — — 27 101 52 $1,924 
Telfer (10) (15)
39 4 4 — — 1 17 65 5 N.M.
Akyem (16)
95 4 1 (1)1 — 3 103 46 $2,230 
Total Gold1,892 48 59 98 8 8 413 2,526 1,568 $1,611 
Gold equivalent ounces - other metals (13)(14)
Red Chris (10)
71 1 1 — — (4)17 86 31 $2,714 
Peñasquito219 8 — 1 (1)26 33 286 222 $1,286 
Boddington44 1 — — — 1 4 50 43 $1,168 
Cadia (10)
80 — 1 — — (17)38 102 116 $880 
Corporate and Other (11)
— — 6 14 1 — 1 22 — $— 
Held for sale (12)
Telfer (10 )(15)
4 — — — — — 2 6 — N.M.
Total Gold Equivalent Ounces418 10 8 15 — 6 95 552 412 $1,338 
Consolidated$2,310 $58 $67 $113 $8 $14 $508 $3,078 
(1)Excludes Depreciation and amortization and Reclamation and remediation.
(2)Includes by-product credits of $55.
(3)Includes stockpile, leach pad, and product inventory adjustments of $4 at NGM and $17 at Telfer.
(4)Includes operating accretion of $36, included in Reclamation and remediation, and amortization of asset retirement costs $22; excludes accretion and reclamation and remediation adjustments at former operating properties that have entered the closure phase and have no substantive future economic value of $57 and $39, respectively, included in Reclamation and remediation.
(5)Excludes development expenditures of $4 at Red Chris, $2 at Peñasquito, $4 at Cerro Negro, $1 at Boddington, $5 at Tanami, $14 at Ahafo, $2 at NGM, $19 at Corporate and Other, $1 at CC&V, and $2 at Telfer, totaling $54 related to developing new operations or major projects at existing operations where these projects will materially benefit the operation.
(6)Other expense, net is adjusted for impairment charges of $18, Newcrest transaction and integration costs of $17, settlements costs of $7, and restructuring and severance of $5, included in Other expense, net.
(7)Excludes capitalized interest related to sustaining capital expenditures.
(8)Includes finance lease payments and other costs for sustaining projects of $34.
(9)Per ounce measures may not recalculate due to rounding.
(10)Sites acquired through the Newcrest transaction.
(11)Corporate and Other includes the Company's business activities relating to its corporate and regional offices and all equity method investments.
(12)Sites are classified as held for sale as of September 30, 2024.
(13)Gold equivalent ounces is calculated as pounds or ounces produced multiplied by the ratio of the other metals price to the gold price, using 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 September 30, 2024, Red Chris sold 6 thousand tonnes of copper, Peñasquito sold 6 million ounces of silver, 17 thousand tonnes of lead and 61 thousand tonnes of zinc, Boddington sold 8 thousand tonnes of copper, Cadia sold 21 thousand tonnes of copper, and Telfer sold — thousand tonnes of copper.
(15)During the second quarter, seepage points were detected on the outer wall and around the tailings storage facility at Telfer and we temporarily ceased placing new tailings on the facility. Production resumed during the third quarter of 2024, but as a result of the temporary suspension of production, per ounce metrics are not meaningful ("N.M."). In September 2024, the Company entered into a binding agreement to sell the assets of the Telfer reportable segment. The sale is expected to close in the fourth quarter of 2024.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         18    


(16)In October 2024, the Company entered into a definitive agreement to sell the Akyem reportable segment. The sale is expected to close in the fourth quarter of 2024.
Three Months Ended
September 30, 2023
Costs Applicable to Sales(1)(2)(3)(4)
Reclamation Costs(5)
Advanced Projects, Research and Development and Exploration(6)
General and Administrative
Other Expense, Net(7)
Treatment and Refining Costs
Sustaining Capital and Lease Related Costs(8)(9)
All-In Sustaining CostsOunces (000) Sold
All-In Sustaining Costs Per oz.(10)
Gold
CC&V$57 $3 $3 $— $— $— $20 $83 46 $1,819 
Musselwhite50 1 2 — — — 28 81 47 $1,715 
Porcupine73 5 3 — — — 19 100 61 $1,644 
Éléonore63 2 3 — 1 — 29 98 46 $2,107 
Peñasquito (11)
16 2 — — — — 5 23 (1)N.M.
Merian
104 2 4 — — — 27 137 83 $1,652 
Cerro Negro79 1 1 — 1 — 11 93 65 $1,438 
Yanacocha90 6 — — — — 4 100 85 $1,187 
Boddington157 5 1 — — 4 42 209 186 $1,123 
Tanami81 1 — — — — 28 110 123 $890 
Ahafo133 5 — — 1 — 27 166 137 $1,208 
Akyem72 13 — 1 — — 8 94 71 $1,332 
Nevada Gold Mines298 4 4 2 2 2 82 394 301 $1,307 
Corporate and Other (12)
— — 23 62 3 — 6 94 — $— 
Total Gold1,273 50 44 65 8 6 336 1,782 1,250 $1,426 
Gold equivalent ounces - other metals (13)(14)
Peñasquito (11)
48 7 1 — 1 1 11 69 (2)N.M.
Boddington50 — — — — 3 14 67 61 $1,108 
Corporate and Other (12)
— — 1 5 1 — 2 9 — $— 
Total Gold Equivalent Ounces98 7 2 5 2 4 27 145 59 $2,422 
Consolidated$1,371 $57 $46 $70 $10 $10 $363 $1,927 
(1)Excludes Depreciation and amortization and Reclamation and remediation.
(2)Includes by-product credits of $29.
(3)Includes stockpile, leach pad, and product inventory adjustments of $1 at Porcupine, $2 at Peñasquito, and $2 at NGM.
(4)Beginning January 1, 2023, COVID-19 specific costs incurred in the ordinary course of business are recognized in Costs applicable to sales.
(5)Includes operating accretion of $25, included in Reclamation and remediation, and amortization of asset retirement costs of $32; excludes accretion and reclamation and remediation adjustments at former operating properties that have entered the closure phase and have no substantive future economic value of $37 and $104, respectively, included in Reclamation and remediation.
(6)Excludes development expenditures of $1 at CC&V, $2 at Porcupine $2 at Peñasquito, $5 at Merian, $2 at Cerro Negro, $7 at Tanami, $12 at Ahafo, $6 at Akyem, $4 at NGM, and $44 at Corporate and Other, totaling $85 related to developing new operations or major projects at existing operations where these projects will materially benefit the operation.
(7)Other expense, net is adjusted for Newcrest transaction-related costs of $16, restructuring and severance of $7, impairment charges of $2, settlement costs of $2, included in Other expense, net.
(8)Excludes capitalized interest related to sustaining capital expenditures.
(9)Includes finance lease payments and other costs for sustaining projects of $17.
(10)Per ounce measures may not recalculate due to rounding.
(11)For the three months ended September 30, 2023, Peñasquito had no production due to the Peñasquito labor strike. Sales activity recognized in the third quarter of 2023 at Peñasquito is related to adjustments on provisionally priced concentrate sales subject to final settlement. As such, the per ounce metrics are not meaningful ("N.M.") for the current quarter.
(12)Corporate and Other includes the Company's business activities relating to its corporate and regional offices and all equity method investments.
(13)Gold equivalent ounces is calculated as pounds or ounces produced multiplied by the ratio of the other metals price to the gold price, using Gold ($1,400/oz.), Copper ($3.50/lb.), Silver ($20.00/oz.), Lead ($1.00/lb.), and Zinc ($1.20/lb.) pricing for 2023.
(14)For the three months ended September 30, 2023, Peñasquito sold — million ounces of silver, — thousand tonnes of lead, and (1) thousand tonnes of zinc, and Boddington sold 11 thousand tonnes of copper.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         19    


Nine Months Ended
September 30, 2024
Costs Applicable to Sales(1)(2)(3)
Reclamation Costs(4)
Advanced Projects, Research and Development and Exploration(5)
General and Administrative
Other Expense, Net(6)
Treatment and Refining Costs
Sustaining Capital and Lease Related Costs(7)(8)
All-In Sustaining CostsOunces (000) Sold
All-In Sustaining Costs Per oz.(9)
Gold
Brucejack (10)
$236 $2 $8 $— $— $3 $49 $298 181 $1,642 
Red Chris (10)
35 — 1 — — — 10 46 24 $1,882 
Peñasquito145 5 — — — 10 22 182 164 $1,112 
Merian
299 6 11 — — 1 66 383 199 $1,926 
Cerro Negro224 5 2 — 2 — 45 278 161 $1,725 
Yanacocha261 25 8 — 1 — 15 310 257 $1,207 
Boddington419 12 1 — — 10 77 519 402 $1,289 
Tanami281 2 5 — — — 76 364 290 $1,256 
Cadia (10)
231 1 7 — 1 12 113 365 350 $1,044 
Lihir (10)
539 3 12 — 4 — 89 647 457 $1,416 
Ahafo527 14 3 — 1 1 73 619 585 $1,057 
Nevada Gold Mines941 13 9 8 3 5 276 1,255 763 $1,645 
Corporate and Other (11)
1 — 82 277 12 — 12 384 — $— 
Held for sale (12)
CC&V139 8 2 — 1 — 21 171 100 $1,715 
Musselwhite163 3 4 — — — 73 243 155 $1,570 
Porcupine235 10 4 — — — 62 311 218 $1,422 
Éléonore239 4 8 — — — 77 328 171 $1,914 
Telfer (10) (15)
192 9 9 — 4 4 27 245 64 $3,823 
Akyem (16)
252 18 1 — 1 — 18 290 169 $1,716 
Total Gold5,359 140 177 285 30 46 1,201 7,238 4,710 $1,537 
Gold equivalent ounces - other metals (13)(14)
Red Chris (10)
135 1 4 — — 5 40 185 98 $1,885 
Peñasquito692 24 1 1 1 85 96 900 766 $1,175 
Boddington141 3 — — — 8 13 165 141 $1,166 
Cadia (10)
214 1 5 — 1 24 98 343 351 $977 
Corporate and Other (11)
— — 10 28 1 — 1 40 — $— 
Held for sale (12)
Telfer (10)(15)
31 1 1 — — 5 4 42 11 $3,811 
Total Gold Equivalent Ounces1,213 30 21 29 3 127 252 1,675 1,367 $1,225 
Consolidated$6,572 $170 $198 $314 $33 $173 $1,453 $8,913 
(1)Excludes Depreciation and amortization and Reclamation and remediation.
(2)Includes by-product credits of $169.
(3)Includes stockpile, leach pad, and product inventory adjustments of $2 at Brucejack, $1 at Peñasquito, $9 at Cerro Negro, $21 at NGM, and $32 at Telfer.
(4)Includes operating accretion of $103, included in Reclamation and remediation, and amortization of asset retirement costs of $67; excludes accretion and reclamation and remediation adjustments at former operating properties that have entered the closure phase and have no substantive future economic value of $165 and $56, respectively, included in Reclamation and remediation.
(5)Excludes development expenditures of $4 at Red Chris, $6 at Peñasquito, $4 at Merian, $10 at Cerro Negro, $2 at Boddington, $18 at Tanami, $28 at Ahafo, $8 at NGM, $46 at Corporate and Other, $2 at CC&V, $1 at Porcupine, $2 at Telfer, and $4 at Akyem, totaling $135 related to developing new operations or major projects at existing operations where these projects will materially benefit the operation.
(6)Other expense, net is adjusted for Newcrest transaction and integration costs of $62, impairment charges of $39, settlement costs of $33, and restructuring and severance of $20, included in Other expense, net.
(7)Excludes capitalized interest related to sustaining capital expenditures.
(8)Includes finance lease payments and other costs for sustaining projects of $64.
(9)Per ounce measures may not recalculate due to rounding.
(10)Sites acquired through the Newcrest transaction.
(11)Corporate and Other includes the Company's business activities relating to its corporate and regional offices and all equity method investments.
(12)Sites are classified as held for sale as of September 30, 2024.
(13)Gold equivalent ounces is calculated as pounds or ounces produced multiplied by the ratio of the other metals price to the gold price, using 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 nine months ended September 30, 2024, Red Chris sold 18 thousand tonnes of copper, Peñasquito sold 24 million ounces of silver, 66 thousand tonnes of lead and 174 thousand tonnes of zinc, Boddington sold 26 thousand tonnes of copper, Cadia sold 64 thousand tonnes of copper, and Telfer sold 2 thousand tonnes of copper.
(15)During the second quarter, seepage points were detected on the outer wall and around the tailings storage facility at Telfer and we temporarily ceased placing new tailings on the facility. Production resumed during the third quarter of 2024. In September 2024, the Company entered into a binding agreement to sell the assets of the Telfer reportable segment. The sale is expected to close in the fourth quarter of 2024.
(16)In October 2024, the Company entered into a definitive agreement to sell the Akyem reportable segment. The sale is expected to close in the fourth quarter of 2024.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         20    


Nine Months Ended
September 30, 2023
Costs
Applicable
to
Sales (1)(2)(3)(4)
Reclamation
Costs (5)
Advanced
Projects,
Research and
Development
and
Exploration(6)
General
and
Administrative
Other Expense, Net(7)
Treatment and Refining Costs
Sustaining Capital and Lease Related Costs(8)(9)
All-In Sustaining CostsOunces (000) Sold
All-In Sustaining Costs Per oz.(10)
Gold
CC&V$157 $8 $8 $— $1 $— $42 $216 135 $1,603 
Musselwhite163 4 7 — — — 73 247 132 $1,869 
Porcupine220 17 10 — — — 45 292 189 $1,545 
Éléonore212 7 6 — 1 — 81 307 165 $1,855 
Peñasquito123 6 1 — — 7 24 161 103 $1,569 
Merian269 5 9 — — — 63 346 219 $1,580 
Cerro Negro232 4 3 — 2 — 33 274 176 $1,556 
Yanacocha225 17 6 — 4 — 11 263 204 $1,290 
Boddington483 14 3 — — 14 97 611 588 $1,039 
Tanami244 2 1 — — — 86 333 312 $1,066 
Ahafo384 14 1 — 2 — 108 509 401 $1,269 
Akyem189 29 1 1 — — 29 249 198 $1,260 
Nevada Gold Mines888 11 12 7 2 5 230 1,155 847 $1,364 
Corporate and Other (11)
— — 55 181 4 — 24 264 — $— 
Total Gold3,789 138 123 189 16 26 946 5,227 3,669 $1,425 
Gold equivalent ounces - other metals (12)(13)
Peñasquito456 21 3 1 1 66 87 635 385 $1,648 
Boddington151 2 1 — — 11 31 196 190 $1,033 
Corporate and Other (11)
— — 7 25 1 — 5 38 — $— 
Total Gold Equivalent Ounces607 23 11 26 2 77 123 869 575 $1,511 
Consolidated$4,396 $161 $134 $215 $18 $103 $1,069 $6,096 
(1)Excludes Depreciation and amortization and Reclamation and remediation.
(2)Includes by-product credits of $91.
(3)Includes stockpile, leach pad, and product inventory adjustments of $3 at Porcupine, $5 at Éléonore, $19 at Peñasquito, $2 at Cerro Negro, $4 at Yanacocha, $1 at Akyem, and $4 at NGM.
(4)Beginning January 1, 2023, COVID-19 specific costs incurred in the ordinary course of business are recognized in Costs applicable to sales.
(5)Include operating accretion of $74, included in Reclamation and remediation, and amortization of asset retirement costs of $87; excludes accretion and reclamation and remediation adjustments at former operating properties that have entered the closure phase and have no substantive future economic value of $111 and $113, respectively, included in Reclamation and remediation.
(6)Excludes development expenditures of $2 at CC&V, $5 at Porcupine, $5 at Peñasquito, $8 at Merian, $3 at Cerro Negro, $3 at Yanacocha, $19 at Tanami, $27 at Ahafo, $13 at Akyem, $13 at NGM, and $92 at Corporate and Other, totaling $190 related to developing new operations or major projects at existing operations where these projects will materially benefit the operation.
(7)Other expense, net is adjusted for Newcrest transaction-related costs of $37, restructuring and severance of $19, impairment charges of $10, and settlement costs of $2, included Other expense, net.
(8)Excludes capitalized interest related to sustaining capital expenditures.
(9)Includes finance lease payments and other costs for sustaining projects of $55.
(10)Per ounce measures may not recalculate due to rounding.
(11)Corporate and Other includes the Company's business activities relating to its corporate and regional offices and all equity method investments.
(12)Gold equivalent ounces is calculated as pounds or ounces produced multiplied by the ratio of the other metals price to the gold price, using Gold ($1,400/oz.), Copper ($3.50/lb.), Silver ($20.00/oz.), Lead ($1.00/lb.), and Zinc ($1.20/lb.) pricing for 2023.
(13)For the nine months ended September 30, 2023, Peñasquito sold 12 million ounces of silver, 33 thousand tonnes of lead and 85 thousand tonnes of zinc, and Boddington sold 34 thousand tonnes of copper.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         21    


A reconciliation of the Fourth Quarter 2024 Gold AISC outlook to the Fourth Quarter 2024 Gold CAS outlook is provided below. The estimates in the table below are considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws.

Q4 2024 Outlook - Gold (1)(2)
(in millions, except ounces and per ounce)Outlook Estimate
Cost Applicable to Sales (3)(4)
$1,850 
Reclamation Costs (5)
40 
Advanced Projects & Exploration (6)
90 
General and Administrative (7)
85 
Other Expense5 
Treatment and Refining Costs30 
Sustaining Capital (8)
425 
Sustaining Finance Lease Payments 5 
All-in Sustaining Costs$2,530 
Ounces (000) Sold (9)
1,715 
All-in Sustaining Costs per Ounce$1,475 
(1)The reconciliation is provided for illustrative purposes in order to better describe management’s estimates of the components of the calculation. Estimates for each component of the forward-looking All-in sustaining costs per ounce are independently calculated and, as a result, the total All-in sustaining costs and the All-in sustaining costs per ounce may not sum to the component ranges. While a reconciliation to the most directly comparable GAAP measure has been provided for the 2024 AISC Gold Outlook on a consolidated basis, a reconciliation has not been provided on an individual site or project basis in reliance on Item 10(e)(1)(i)(B) of Regulation S-K because such reconciliation is not available without unreasonable efforts.
(2)All values are presented on a consolidated basis for Newmont.
(3)Excludes Depreciation and amortization and Reclamation and remediation.
(4)Includes stockpile and leach pad inventory adjustments.
(5)Reclamation costs include operating accretion and amortization of asset retirement costs.
(6)Advanced Project and Exploration excludes non-sustaining advanced projects and exploration.
(7)Includes stock-based compensation.
(8)Excludes development capital expenditures, capitalized interest and change in accrued capital.
(9)Consolidated production for Merian is presented on a total production basis for the mine site and excludes production from Pueblo Viejo and Fruta del Norte.



NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         22    


Net debt to Adjusted EBITDA ratio
Management uses net debt to Adjusted EBITDA as non-GAAP measures to evaluate the Company’s operating performance, including our ability to generate earnings sufficient to service our debt. Net debt to Adjusted EBITDA represents the ratio of the Company’s debt, net of cash and cash equivalents, to Adjusted EBITDA. Net debt to Adjusted EBITDA does not represent, and should not be considered an alternative to, net income (loss), operating income (loss), or cash flow from operations as those terms are defined by GAAP, and does not necessarily indicate whether cash flows will be sufficient to fund cash needs. Although Net Debt to Adjusted EBITDA and similar measures are frequently used as measures of operations and the ability to meet debt service requirements by other companies, our calculation of net debt to Adjusted EBITDA measure is not necessarily comparable to such other similarly titled captions of other companies. The Company believes that net debt to Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and Board of Directors. Management’s determination of the components of net debt to Adjusted EBITDA is evaluated periodically and based, in part, on a review of non-GAAP financial measures used by mining industry analysts. Net income (loss) attributable to Newmont stockholders is reconciled to Adjusted EBITDA as follows:
Three Months Ended
September 30, 2024June 30, 2024March 31, 2024December 31, 2023
Net income (loss) attributable to Newmont stockholders $922 $853 $170 $(3,158)
Net income (loss) attributable to noncontrolling interests2 4 9 10 
Net loss (income) from discontinued operations(49)(15)(4)(12)
Equity loss (income) of affiliates(60)3 (7)(19)
Income and mining tax expense (benefit)244 191 260 77 
Depreciation and amortization631 602 654 681 
Interest expense, net of capitalized interest
86 103 93 81 
EBITDA$1,776 $1,741 $1,175 $(2,340)
Adjustments:
Loss on assets held for sale
$115 $246 $485 $— 
Reclamation and remediation charges 33 — 6 1,158 
(Gain) loss on asset and investment sales, net28 (55)(9)231 
Impairment charges18 9 12 1,881 
Newcrest transaction and integration costs17 16 29 427 
Change in fair value of investments(17)9 (31)5 
Gain on debt extinguishment, net(15)(14)— — 
Settlement costs7 5 21 5 
Restructuring and severance5 9 6 5 
Pension settlements— — — 9 
COVID-19 specific costs— — — 1 
Adjusted EBITDA$1,967 $1,966 $1,694 $1,382 
12 month trailing Adjusted EBITDA$7,009 
Total Debt$8,550 
Lease and other financing obligations549 
Less: Cash and cash equivalents(3,016)
Less: Cash and cash equivalents included in assets held for sale (1)
(86)
Total net debt$5,997 
Net debt to Adjusted EBITDA0.9 
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for assets held for sale. As a result, the related Cash and cash equivalents was reclassified to Assets held for sale.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         23    


Net average realized price per ounce/ pound
Average realized price per ounce/ pound are non-GAAP financial measures. The measures are calculated by dividing the net consolidated gold, copper, silver, lead, and zinc sales by the consolidated gold ounces, copper pounds, silver ounces, lead pounds and zinc pounds sold, respectively. These measures are calculated on a consistent basis for the periods presented on a consolidated basis. Average realized price per ounce/ pound statistics are intended to provide additional information only, do not have any standardized meaning prescribed by GAAP and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. The measures are not necessarily indicative of operating profit or cash flow from operations as determined under GAAP. Other companies may calculate these measures differently.
The following tables reconcile these non-GAAP measures to the most directly comparable GAAP measure:
Three Months Ended
September 30,		Increase
(Decrease)		Percent
Change
20242023
Gold$3,945 $2,400 $1,545 64 %
Copper329 90 239 266 
Silver (1)
147 5 142 N.M.
Lead (1)
32 — 32 N.M.
Zinc (1)
152 (2)154 N.M.
$4,605 $2,493 $2,112 85 %
(1)Due to the Peñasquito labor strike, Peñasquito had no production during the third quarter of 2023. Sales activity recognized in the third quarter of 2023 is related to adjustments on provisionally priced concentrate sales subject to final settlement. As such, the percent change is not meaningful ("N.M.").
Nine Months Ended
September 30,		Increase
(Decrease)		Percent
Change
20242023
Gold$10,909 $7,083 $3,826 54 %
Copper1,003 282 721 256 
Silver557 246 311 126 
Lead136 64 72 113 
Zinc425 180 245 136 
$13,030 $7,855 $5,175 66 %
Three Months Ended September 30, 2024
GoldCopperSilverLeadZinc
(ounces)(pounds)(ounces)(pounds)(pounds)
Consolidated sales:
Gross before provisional pricing and streaming impact$3,900 $297 $135 $35 $171 
Provisional pricing mark-to-market53 12 3 (2)— 
Silver streaming amortization— — 15 — — 
Gross after provisional pricing and streaming impact3,953 309 153 33 171 
Treatment and refining charges(8)20 (6)(1)(19)
Net$3,945 $329 $147 $32 $152 
Consolidated ounces / pounds sold (1)(2)
1,568 77 6 36 134 
Average realized price (per ounce/pound): (3)
Gross before provisional pricing and streaming impact$2,488 $3.90 $23.76 $0.93 $1.28 
Provisional pricing mark-to-market34 0.16 0.52 (0.04)— 
Silver streaming amortization— — 2.79 — — 
Gross after provisional pricing and streaming impact2,522 4.06 27.07 0.89 1.28 
Treatment and refining charges(4)0.25 (1.09)(0.03)(0.14)
Net$2,518 $4.31 $25.98 $0.86 $1.14 
(1)Amounts reported in millions except gold ounces, which are reported in thousands.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         24    


(2)For the three months ended September 30, 2024 the Company sold 35 thousand tonnes of copper, 17 thousand tonnes of lead, and 61 thousand tonnes of zinc.
(3)Per ounce/pound measures may not recalculate due to rounding.

Three Months Ended September 30, 2023
GoldCopperSilverLeadZinc
(ounces)(pounds)(ounces)(pounds)(pounds)
Consolidated sales:
Gross before provisional pricing and streaming impact$2,411 $93 $2 $— $(3)
Provisional pricing mark-to-market(5)— 3 — 2 
Silver streaming amortization— — — — — 
Gross after provisional pricing and streaming impact2,406 93 5 — (1)
Treatment and refining charges(6)(3)— — (1)
Net$2,400 $90 $5 $— $(2)
Consolidated ounces / pounds sold (1)(2)
1,250 25 — — (2)
Average realized price (per ounce/pound): (3)(4)
Gross before provisional pricing and streaming impact$1,929 $3.83 N.M.N.M.N.M.
Provisional pricing mark-to-market(4)— N.M.N.M.N.M.
Silver streaming amortization— — N.M.N.M.N.M.
Gross after provisional pricing and streaming impact1,925 3.83 N.M.N.M.N.M.
Treatment and refining charges(5)(0.15)N.M.N.M.N.M.
Net$1,920 $3.68 N.M.N.M.N.M.
(1)Amounts reported in millions except gold ounces, which are reported in thousands.
(2)For the three months ended September 30, 2023 the Company sold 11 thousand tonnes of copper, — thousand tonnes of lead, and (1) thousand tonnes of zinc.
(3)Due to the Peñasquito labor strike, Peñasquito had no production during the third quarter of 2023. Sales activity recognized in the third quarter of 2023 is related to adjustments on provisionally priced concentrate sales subject to final settlement. As such, the average realized price per ounce/pound metrics are not meaningful ("N.M.").
(4)Per ounce/pound measures may not recalculate due to rounding.

Nine Months Ended September 30, 2024
GoldCopperSilverLeadZinc
(ounces)(pounds)(ounces)(pounds)(pounds)
Consolidated sales:
Gross before provisional pricing and streaming impact$10,846 $999 $493 $137 $466 
Provisional pricing mark-to-market109 46 26 1 15 
Silver streaming amortization— — 65 — — 
Gross after provisional pricing and streaming impact10,955 1,045 584 138 481 
Treatment and refining charges(46)(42)(27)(2)(56)
Net$10,909 $1003 $557 $136 $425 
Consolidated ounces/pounds sold (1)(2)
4,710 241 24 144 382 
Average realized price (per ounce/pound): (3)
Gross before provisional pricing and streaming impact$2,303 $4.16 $21.01 $0.95 $1.22 
Provisional pricing mark-to-market23 0.19 1.09 0.01 0.04 
Silver streaming amortization— — 2.79 — — 
Gross after provisional pricing and streaming impact2,326 4.35 24.89 0.96 1.26 
Treatment and refining charges(10)(0.18)(1.17)(0.02)(0.15)
Net$2,316 $4.17 $23.72 $0.94 $1.11 
(1)Amounts reported in millions except gold ounces, which are reported in thousands.
(2)For the nine months ended September 30, 2024 the Company sold 110 thousand tonnes of copper, 66 thousand tonnes of lead, and 174 thousand tonnes of zinc.
(3)Per ounce/pound measures may not recalculate due to rounding.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         25    


Nine Months Ended September 30, 2023
GoldCopperSilverLeadZinc
(ounces)(pounds)(ounces)(pounds)(pounds)
Consolidated sales:
Gross before provisional pricing and streaming impact$7,098 $293 $227 $69 $240 
Provisional pricing mark-to-market11 — 7 (2)(16)
Silver streaming amortization— — 31 — — 
Gross after provisional pricing and streaming impact7,109 293 265 67 224 
Treatment and refining charges(26)(11)(19)(3)(44)
Net$7,083 $282 $246 $64 $180 
Consolidated ounces/pounds sold (1)(2)
3,669 76 12 72 187 
Average realized price (per ounce/pound): (3)
Gross before provisional pricing and streaming impact$1,934 $3.86 $18.65 $0.96 $1.28 
Provisional pricing mark-to-market3 — 0.54 (0.03)(0.08)
Silver streaming amortization— — 2.56 — — 
Gross after provisional pricing and streaming impact1,937 3.86 21.75 0.93 1.20 
Treatment and refining charges(7)(0.15)(1.57)(0.03)(0.23)
Net$1,930 $3.71 $20.18 $0.90 $0.97 
(1)Amounts reported in millions except gold ounces, which are reported in thousands.
(2)For the nine months ended September 30, 2023 the Company sold 34 thousand tonnes of copper, 33 thousand tonnes of lead, and 85 thousand tonnes of zinc.
(3)Per ounce/pound measures may not recalculate due to rounding.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         26    


Gold by-product metrics
Copper, silver, lead, zinc, and molybdenum are by-products often obtained during the process of extracting and processing the primary ore-body. In our GAAP Consolidated Financial Statements, the value of these by-products is recorded as a credit to our CAS and the value of the primary ore is recorded as Sales. In certain instances, copper, silver, lead, and zinc are co-products, or a significant resource in the primary ore-body, and the revenue is recorded as Sales in our GAAP Consolidated Financial Statements.
Gold by-product metrics are non-GAAP financial measures that serve as a basis for comparing the Company’s performance with certain competitors. As Newmont’s operations are primarily focused on gold production, “Gold by-product metrics” were developed to allow investors to view Sales, CAS per ounce and AISC per ounce calculations that classify all copper, silver, lead, zinc, and molybdenum production as a by-product, even when copper, silver, lead or zinc is a significant resource in the primary ore-body. These metrics are calculated by subtracting copper, silver, lead, and zinc sales recognized from Sales and including these amounts as offsets to CAS.
Gold by-product metrics are calculated on a consistent basis for the periods presented on a consolidated basis. These metrics are intended to provide supplemental information only, do not have any standardized meaning prescribed by GAAP and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Other companies may calculate these measures differently as a result of differences in the underlying accounting principles, policies applied and in accounting frameworks, such as in IFRS.
The following tables reconcile these non-GAAP measures to the most directly comparable GAAP measures:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Consolidated gold sales, net$3,945 $2,400 $10,909 $7,083 
Consolidated other metal sales, net660 93 2,121 772 
Sales$4,605 $2,493 $13,030 $7,855 
Costs applicable to sales$2,310 $1,371 $6,572 $4,396 
Less: Consolidated other metal sales, net(660)(93)(2,121)(772)
By-product costs applicable to sales$1,650 $1,278 $4,451 $3,624 
Gold sold (thousand ounces)1,568 1,250 4,710 3,669 
Total Gold CAS per ounce (by-product) (1)
$1,052 $1,022 $945 $988 
Total AISC$3,078 $1,927 $8,913 $6,096 
Less: Consolidated other metal sales, net(660)(93)(2,121)(772)
By-product AISC$2,418 $1,834 $6,792 $5,324 
Gold sold (thousand ounces)1,568 1,250 4,710 3,669 
Total Gold AISC per ounce (by-product) (1)
$1,542 $1,467 $1,442 $1,451 
(1)Per ounce measures may not recalculate due to rounding.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         27    


Conference Call Information
A conference call will be held on Thursday, October 24, 2024 at 11:00 a.m. Eastern Time (9:00 a.m. Mountain Time); it will also be available on the Company’s website.
Conference Call Details
Dial-In Number
833.470.1428
Intl Dial-In Number
404.975.48391
Dial-In Access Code037611
Conference NameNewmont
Replay Number866.813.9403
Intl Replay Number929.458.6194
Replay Access Code197186

1For toll-free phone numbers, refer to the following link: https://www.netroadshow.com/events/global-numbers?confId=49005
Webcast Details
Title: Newmont Third Quarter 2024 Earnings Conference Call
URL: https://events.q4inc.com/attendee/284798799

The webcast materials will be available Wednesday, October 23, after market close, under the “Investor Relations” section of the Company’s website. Additionally, the conference call will be archived for a limited time on the Company’s website.
About Newmont
Newmont is the world’s leading gold company and a producer of copper, zinc, lead, and silver. The company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the company has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont’s sustainability strategy and initiatives, go to www.newmont.com.
Investor Contact - Global
Neil Backhouseinvestor.relations@newmont.com
Investor Contact - Asia Pacific
Natalie Worley
apac.investor.relations@newmont.com
Media Contact - Global
Jennifer Pakradooniglobalcommunications@newmont.com
Media Contact - Asia Pacific
Rosalie Cobai
australiacommunications@newmont.com

NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         28    


Cautionary Statement Regarding Forward Looking Statements, Including Outlook Assumptions, and Notes:
This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. Forward-looking statements often address our expected future business and financial performance and financial condition; and often contain words such as “anticipate,” “intend,” “plan,” “will,” “would,” “estimate,” “expect,” “believe,” "pending" or “potential.” Forward-looking statements in this news release may include, without limitation, (i) estimates of future production and sales, including production outlook, average future production; (ii) estimates of future costs applicable to sales and all-in sustaining costs; (iii) estimates of future capital expenditures, including development and sustaining capital; (iv) expectations regarding the development of the Cadia Panel Caves including with respect to production and capital cost estimates; (v) expectations regarding share and debt repurchases; (vi) estimates of future cost reductions, synergies, including pre-tax synergies, savings and efficiencies, Full Potential and productivity improvements, and future cash flow enhancements through portfolio optimization, (vii) expectations regarding Newmont’s go-forward portfolio is focused on Tier 1 assets; (viii) expectations regarding future investments or divestitures, including of non-core assets and assets designated as held for sale; (ix) expectations regarding free cash flow and returns to stockholders, including with respect to future dividends and future share repurchases; and (x) other outlook, including, without limitation, Q4 2024 Outlook, 2024 Outlook and other future operating, reclamation, remediation, and financial metrics. Estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect. Such assumptions, include, but are not limited to: (i) there being no significant change to current geotechnical, metallurgical, hydrological and other physical conditions; (ii) permitting, development, operations and expansion of operations and projects being consistent with current expectations and mine plans, including, without limitation, receipt of export approvals; (iii) political developments in any jurisdiction in which the Company operates being consistent with its current expectations; (iv) certain exchange rate assumptions for the Australian dollar to U.S. dollar and Canadian dollar to U.S. dollar, as well as other exchange rates being approximately consistent with current levels; (v) certain price assumptions for gold, copper, silver, zinc, lead and oil; (vi) prices for key supplies; (vii) the accuracy of current mineral reserve, mineral resource and mineralized material estimates; and (viii) other planning assumptions. Uncertainties include those relating to general macroeconomic uncertainty and changing market conditions, changing restrictions on the mining industry in the jurisdictions in which we operate, impacts to supply chain, including price, availability of goods, ability to receive supplies and fuel, and impacts of changes in interest rates. Such uncertainties could result in operating sites being placed into care and maintenance and impact estimates, costs and timing of projects. Uncertainties in geopolitical conditions could impact certain planning assumptions, including, but not limited to commodity and currency prices, costs and supply chain availabilities.

Future dividends beyond the dividend payable on December 23, 2024 to holders of record at the close of business on November 27, 2024 have not yet been approved or declared by the Board of Directors, and an annualized dividend payout or dividend yield has not been declared by the Board. Management’s expectations with respect to future dividends are “forward-looking statements” and are non-binding. The declaration and payment of future dividends remain at the discretion of the Board of Directors and will be determined based on Newmont’s financial results, balance sheet strength, cash and liquidity requirements, future prospects, gold and commodity prices, and other factors deemed relevant by the Board.

Investors are also cautioned that the extent to which the Company repurchases its shares, and the timing of such repurchases, will depend upon a variety of factors, including trading volume, market conditions, legal requirements, business conditions and other factors. The repurchase program may be discontinued at any time, and the program does not obligate the Company to acquire any specific number of shares of its common stock or to repurchase the full $2.0 billion amount during the 24 month authorization period.

Expectations regarding the closing of the sale the Akyem mine in Ghana and the Telfer mine and interest in the Havieron project in Western Australia and related receipt of proceeds and deferred consideration are forward-looking statements. Investors are cautioned that the closing of the Telfer/Havieron sale remains conditional on satisfaction of certain conditions including: (i) Newmont and Greatland receiving approval for the transaction from the Foreign Investment Review Board (FIRB); (ii) transfer of key approvals and tenements; (iii) assignment of key contracts and leases; (iv) obtaining specific environmental licenses; (iv) restart of operations at Telfer following remediation of TSF8; and (v) other customary closing conditions. Under the terms of the agreement, expected gross proceeds of up to $475 million, which include cash consideration of $207.5 million, due upon on closing, equity consideration of $167.5 million in the form of Greatland shares, to be issued upon closing and deferred contingent cash consideration of up to $100 million. No assurance can be provided with respect to deferred consideration which may be payable to Newmont in cash through a gold price linked payment structure with a 50% price upside participation by Newmont in respect of gold produced from Havieron for 5 calendar years following the declaration of commercial production, subject to a hurdle price of $1,850/oz. Deferred consideration for the relevant year will be equal to 50% x (market price – hurdle price) x sum of total gold sold for the relevant year (inc. doré and concentrate), subject to the annual cap and the total cap. The closing of the Akyem transaction remains subject to the satisfaction of certain customary conditions precedent, including but not limited to, Zijin obtaining the necessary filings, approvals, or registrations from the National Development and Reform Commission, the Ministry of Commerce and the State Administration of Foreign Exchange of the People’s Republic of China, and the parties receipt of a no objections letter from the Minister of Lands and Natural Resources of the Republic of Ghana. A failure to satisfy these conditions precedent would delay and/or prevent closing of the transaction. Similarly, receipt of $900 million in cash consideration is subject to closing of the transaction, and an additional $100 million in cash consideration is expected to be paid after the earliest to occur of the ratification of the extended eastern mining lease by the Parliament of Ghana, the ratification of a replacement mining lease to the extended eastern mining lease by the Parliament of Ghana and the five year anniversary of the closing date. The purchase price payable at the closing is subject to adjustments for closing cash, working capital, inventory, finished goods inventory, and other customary purchase price adjustment items.

For a more detailed discussion of such risks and other factors that might impact future looking statements, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 29, 2024, under the heading “Risk Factors", and other factors identified in the Company's reports filed with the SEC, available on the SEC website or at www.newmont.com. The Company does not undertake any obligation to release publicly revisions to any “forward-looking statement,” including, without limitation, outlook, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued “forward-looking statement” constitutes a reaffirmation of that statement. Continued reliance on “forward-looking statements” is at investors’ own risk. Investors are also encouraged to review our Form 10-Q for the quarter ended September 30, 2024, expected to be filed on, or about October 24, 2024.



NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         29    


Notice Regarding Reserve and Resource:
Unless otherwise stated herein, the reserves stated in this release represent estimates at December 31, 2023, which could be economically and legally extracted or produced at the time of the reserve determination. Estimates of proven and probable reserves are subject to considerable uncertainty. Such estimates are, or will be, to a large extent, based on metal prices and interpretations of geologic data obtained from drill holes and other exploration techniques, which data may not necessarily be indicative of future results. Additionally, resource does not indicate proven and probable reserves as defined by the SEC or the Company’s standards. Estimates of measured, indicated and inferred resource are subject to further exploration and development, and are, therefore, subject to considerable uncertainty. Inferred resources, in particular, have a great amount of uncertainty as to their existence and their economic and legal feasibility. The Company cannot be certain that any part or parts of the resource will ever be converted into reserves. For additional information on our reserves and resources, please see Item 2 of the Company’s Form 10-K, filed on February 29, 2024 with the SEC.

Note Regarding Tier 1 Portfolio:
Newmont’s Tier 1 portfolio is focused on Tier 1 assets, consisting of (1) six managed Tier 1 assets (Boddington, Tanami, Cadia, Lihir, Peñasquito, and Ahafo), (2) assets owned through two non-managed joint ventures at Nevada Gold Mines and Pueblo Viejo, including four Tier 1 assets (Carlin, Cortez, Turquoise Ridge, and Pueblo Viejo), (3) three emerging Tier 1 assets (Merian, Cerro Negro, and Yanacocha), which do not currently meet the criteria for Tier 1 Asset, and (4) an emerging Tier 1 district in the Golden Triangle in British Columbia (Red Chris and Brucejack), which does not currently meet the criteria for Tier 1 Asset. Newmont’s Tier 1 portfolio also includes attributable production from the Company’s equity interest in Lundin Gold (Fruta del Norte). Tier 1 Portfolio cost and capital metrics include the proportional share of the Company’s interest in the Nevada Gold Mines joint venture.

Tier 1 Assets are defined as having, on average over such asset’s mine life: (1) production of over 500,000 GEO’s/year on a consolidated basis, (2) average AISC/oz in the lower half of the industry cost curve, (3) an expected mine life of over 10 years, and (4) operations in countries that are classified in the A and B rating ranges for Moody’s, S&P and Fitch.
NEWMONT THIRD QUARTER 2024 RESULTS | NEWS RELEASE         30    

v3.24.3
Document and Entity Information
Oct. 23, 2024
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Oct. 23, 2024
Entity File Number 001-31240
Entity Registrant Name Newmont Corporation
Entity Central Index Key 0001164727
Entity Incorporation, State or Country Code DE
Entity Tax Identification Number 84-1611629
Entity Address, Address Line One 6900 E. Layton Avenue
Entity Address, City or Town Denver
Entity Address, State or Province CO
Entity Address, Postal Zip Code 80237
City Area Code 303
Local Phone Number 863-7414
Title of 12(b) Security Common stock, par value $1.60 per share
Trading Symbol NEM
Security Exchange Name NYSE
Entity Emerging Growth Company false
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Newmont (PK) (USOTC:NEMCL)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024 Newmont (PK) 차트를 더 보려면 여기를 클릭.
Newmont (PK) (USOTC:NEMCL)
과거 데이터 주식 차트
부터 12월(12) 2023 으로 12월(12) 2024 Newmont (PK) 차트를 더 보려면 여기를 클릭.