NEM
Updated: 23/09/2026, 05:33:47
Newmont Corporation is primarily involved in the mining and exploration of gold resources. Additionally, the company undertakes prospecting for other base and precious metals, including copper, silver, zinc, and lead. Its operations and assets are geographically widespread, located across various countries such as the United States, Canada, Mexico, the Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, and Ghana. As of the close of 2021 (December 31st), Newmont reported substantial proven and probable gold reserves, totaling 92.8 million ounces, and managed a vast land portfolio covering 62,800 square kilometers. Founded in 1916, the company's corporate headquarters are situated in Denver, Colorado.
No summaries found.
Reported and calculated KPIs plus operational exposure disclosed in the FY 2025 filing.
Revenue
$22.7B
FY 2025 · Reported
Net income
$7.1B
FY 2025 · Reported
Gross margin
N/A
FY — · Reported
Free cash flow
N/A
FY — · Reported
R&D intensity
0.7%
FY 2025 · Calculated
Share repurchases
$2.3B
FY 2025 · Reported
Other offerings mentioned without separate sales
Area-level product sales are displayed only when the filing reports a product × geography breakdown. Regional totals are not allocated across products by estimation.
Map layer
Pins show disclosed operations. The heatmap colors the filing’s reported geographies; regional figures shade the region and are not estimates for each country.
Only locations and quantities explicitly supported by the filing are displayed. A country-level manufacturing percentage or product allocation is shown only when the source discloses it; materiality scores are never presented as production shares.
Core business
Primarily a gold producer; also copper, silver, lead, zinc producer across 12 countries; headquartered in Denver, Colorado
“Newmont Corporation was incorporated in 1921 and is primarily a gold producer with significant operations and/or assets in the United States, Papua New Guinea, Australia, Ghana, Suriname, Argentina, Dominican Republic, Chile, Peru, Ecuador, Mexico, and Canada.”
Reportable segments at December 31, 2025
13 reportable segments: 12 managed mining operations plus 38.5% interest in Nevada Gold Mines (unmanaged)
“The Company's 13 reportable segments consist of each of its 12 mining operations that it manages and its 38.5% proportionate interest in Nevada Gold Mines ("NGM"), which it does not directly manage.”
Customer concentration
Lack of dependence on a limited number of customers
“Refer to Note 5 to the Consolidated Financial Statements for information relating to domestic and export sales and lack of dependence on a limited number of customers.”
Gold sales channel
Doré refined for fee; refined gold credited or delivered to buyers; some gold sold in concentrate
“Under the terms of our refining agreements, the doré bars are refined for a fee, and our share of the refined gold and the separately-recovered silver is credited to our account or delivered to buyers.”
Gold reserves and resources
Attributable P&P gold reserves of 118.2 million ounces at December 31, 2025; land position ~19,200 sq mi
“At December 31, 2025, Newmont had attributable proven and probable gold reserves of 118.2 million ounces, attributable measured and indicated gold resources of 88.1 million ounces, attributable inferred gold resources of 60.6 million ounces”
Co-product metals production and % of Sales
2025 co-product production: copper 296 Mlbs (6% of Sales), silver 28 Moz (5%), lead 216 Mlbs (1%), zinc 509 Mlbs (3%)
“Copper (pounds/millions)2966 %3387 %1455 % Silver (ounces/millions)285 %334 %183 %”
Share of Sales by metal
Gold was 85% of Sales in 2025 and 2024, 89% in 2023
“For the years ended December 31, 2025, 2024 and 2023, 85%, 85% and 89%, respectively, of our Sales were attributable to gold.”
2025 average metal prices
2025 averages: gold $3,432/oz, copper $4.51/lb, silver $40.03/oz, lead $0.89/lb, zinc $1.30/lb
“Average gold prices for 2025 were $3,432 per ounce (2024: $2,386; 2023: $1,941), average copper prices for 2025 were $4.51 per pound”
Gold production by year
Consolidated gold production (koz): 5,530 (2025), 6,545 (2024), 5,401 (2023); attributable: 5,889 / 6,849 / 5,545
“Consolidated gold ounces produced (thousands)5,530 6,545 5,401 Attributable gold ounces produced (thousands)5,889 6,849 5,545”
Gold price history (LBMA annual high/low/average, $/oz)
LBMA gold average $3,432/oz (2025) vs $2,386 (2024); Feb 12, 2026 price $5,043/oz
“2025$4,449 $2,633 $3,432 2024$2,778 $1,985 $2,386”
Foreign currency cost exposure 2025
59% of 2025 Costs applicable to sales paid in non-USD: AUD 27%, CAD 9%, MXN 8%, PGK 6%, ARS 4%, SRD 3%, PEN 2%
“In 2025, approximately 59% of Costs applicable to sales were paid in currencies other than the U.S. dollar as follows: Year Ended December 31, 2025 Australian Dollar27 %”
Co-product producing sites
Copper co-products at Cadia, Boddington, Red Chris; silver, lead, zinc co-products at Peñasquito
“Copper production at Cadia, Boddington, and Red Chris and silver, lead, and zinc production at Peñasquito are considered co-products.”
Newcrest acquisition
Completed acquisition of Newcrest Mining Limited on November 6, 2023
“On November 6, 2023, we completed the acquisition of Newcrest (“the Newcrest transaction”).”
Portfolio optimization program — divestiture of non-core assets
Divested six non-core assets (Telfer, CC&V, Musselwhite, Éléonore, Porcupine, Akyem) and Coffee development project between Q4 2024 and Q4 2025
“The Company completed the sale of the assets of the Telfer reportable segment in the fourth quarter of 2024, the sale of the CC&V, Musselwhite, and Éléonore reportable segments in the first quarter of 2025, the sale of the Porcupine and Akyem reportable segments in the second quarter of 2025, and the sale of the Coffee development project in the fourth quarter of 2025.”
Hedging of AUD/CAD operating expenditures
AUD and CAD fixed forward contracts cover operating expenditures Oct 2024–Dec 2026
“At December 31, 2025, the Company held AUD- and CAD-denominated fixed forward contracts to mitigate variability in the USD functional cash flows related to the AUD- and CAD-denominated operating expenditures to be incurred between October 2024 and December 2026 at certain sites”
Forward-looking development projects
Development projects: Tanami Expansion 2, Cerro Negro District Expansion 1, Cadia Panel Caves, Red Chris Block Cave, Wafi-Golpu
“estimates as to the projected development of certain ore deposits or projects, such as the Tanami Expansion 2, Cerro Negro District Expansion 1, Cadia Panel Caves, Red Chris Block Cave and Wafi-Golpu”
Listing venues
Listed on NYSE, ASX (CDIs), PNGX (PDIs); delisted from TSX September 2025
“Newmont ceased trading on the Toronto Stock Exchange (“TSX”) following voluntary delisting that became effective at the close of trading in September 2025.”
Ghana royalty regime proposal
Proposed Ghana sliding-scale royalty (5%-12% of gold price) could raise operating costs; local content rules prohibit owner mining
“The Government of Ghana has announced plans to amend the country’s mineral royalty regime by replacing the current maximum 5% royalty rate with a sliding scale ranging from 5% to 12%, linked to prevailing gold prices.”
Argentina Santa Cruz 90/10 employment law
Santa Cruz 90/10 employment law (Jan 2026) could require 90% local workforce at Cerro Negro
“In January 2026 the Argentinian province of Santa Cruz enacted the 90/10 employment law with the goal to ensure that local residents receive the majority of jobs in key industries, including mining.”
Commodity price risk — no hedging
Decline in metal prices is a material risk; no hedging of gold, copper, silver, lead, zinc sales
“A substantial or extended decline in gold, copper, silver, lead or zinc prices would have a material adverse effect on us.”
Reserve replacement risk
May be unable to replace gold, copper, silver, lead or zinc reserves as they become depleted
“We may be unable to replace gold, copper, silver, lead or zinc reserves as they become depleted.”
Pandemic/health emergency risk
Operations previously affected by COVID-19; future pandemics may materially and adversely impact the business
“Our operations and business have in the past been affected by the COVID-19 pandemic, and may be materially and adversely impacted in the future by pandemics, epidemics and other health emergencies.”
Supply chain — critical parts and equipment shortage
Shortage of critical parts, services and equipment could adversely affect operations
“Competition with other natural resource companies, and shortage of critical parts, services and equipment may adversely affect our operations and development projects.”
85% of 2025 Sales attributable to gold; unhedged exposure to gold price; decline would materially adversely affect revenues, net income, cash flows and reserves.
“For the years ended December 31, 2025, 2024 and 2023, 85%, 85% and 89%, respectively, of our Sales were attributable to gold.”
27% of 2025 Costs applicable to sales paid in AUD, the largest non-USD cost currency; appreciation against USD increases USD-denominated production costs.
“Australian Dollar27 %”
Doré bars are sent to refiners under fee-based refining agreements to produce 99.95% gold bullion credited or delivered to buyers.
“Doré is sent to refiners to produce bullion that meets the required market standard of 99.95% gold.”
Copper is a co-product at Cadia, Boddington, and Red Chris; 2025 production 296 million pounds, 6% of Sales; sold in concentrate to smelters.
“Copper production at Cadia, Boddington, and Red Chris and silver, lead, and zinc production at Peñasquito are considered co-products.”
Gold used for fabrication (jewelry, electronics, dentistry, industrial/decorative uses, coins) or investment; investors buy bullion, official coins, jewelry; decreased jewelry or investment demand is a price risk factor.
“Fabricated gold has a variety of end uses, including jewelry, electronics, dentistry, industrial and decorative uses, medals, medallions, and official coins.”
Relies on contractors for significant portion of operations and construction; depends on recruiting/retaining key personnel and qualified workforce; Peñasquito costs include higher workers participation costs.
“We rely on contractors to conduct a significant portion of our operations and construction projects.”
Relative strength of the U.S. dollar is among factors influencing metal prices that drive revenues.
“The relative strength of the U.S. dollar;”
Operations may be adversely affected by rising energy prices or energy shortages; business faces risks transitioning to a low-carbon economy.
“Our operations and projects may be adversely affected by rising energy prices or energy shortages.”
Silver co-product at Peñasquito; 2025 production 28 million ounces, 5% of Sales; separately-recovered silver also recovered from doré refining.
“Silver (ounces/millions)285 %334 %183 %”
Monetary policies of major central banks, fiscal policies, inflation expectations and interest rates are listed as factors influencing gold and metal prices.
“The monetary policies employed by the world’s major Central Banks;”
Operations and projects are dependent on availability of sufficient water supplies and subject to water-related risks.
“Our operations and projects are dependent on the availability of sufficient water supplies and subject to water-related risks.”
32% equity method interest in Lundin Gold (acquired via Newcrest), wholly owning and operating Fruta del Norte; 165koz attributable production in 2025.
“The Fruta del Norte mine is wholly owned and operated by Lundin Gold Inc. ("Lundin Gold"). The Company acquired a 32% interest in Lundin Gold through the Newcrest transaction”
Business subject to FCPA and anti-bribery laws; breach could lead to sanctions, fines, litigation, loss of licenses and reputational harm.
“Our business is subject to the U.S. Foreign Corrupt Practices Act, and other related anti-bribery laws and regulations.”
Recession or reduced economic activity in the United States, Australia, China, India and other countries is a factor influencing metal prices.
“Recession or reduced economic activity in the United States, Australia, China, India and other industrialized or developing countries;”
Copper, silver, lead, and zinc sales generally in concentrate form sold to smelters for further treatment and refining.
“Copper, silver, lead, and zinc sales are generally in the form of concentrate that is sold to smelters for further treatment and refining.”
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