NEWMONT Corp /DE/ (NEM) Company Report

Declared 118.2 million ounces of attributable gold reserves at end-2025 vs 134.1 million ounces in 2024, mainly due to asset divestments.
Reported 12.5 million tonnes of attributable copper reserves and 442 million ounces of attributable silver reserves for 2025.
Gold reserves are based on a $2,000/oz assumption, up from $1,700/oz in 2024; resources use a $2,300/oz price.
Projected $205 million exploration spend for managed operations and $35 million for non-managed, totalling $240 million in 2026.

2 days ago

Press Release

Newmont announces 2025 mineral reserves

NEM

Newmont’s proven and probable gold reserves at year-end 2025 are 118.2 million ounces, down from 134.1 million ounces in 2024, primarily due to 2025 asset divestitures.
Copper reserves total 12.5 million tonnes and silver reserves total 442 million ounces as of December 31, 2025.
The reserve base spans Newmont’s premier operations (e.g., Lihir, Cadia, Tanami, Boddington, Pueblo Viejo), each with a ten-year or longer mine life, underpinning long-term production.

4 days ago

Press Release

Newmont announces 2025 mineral reserves

NEM

Newmont reports 118.2 million ounces of gold reserves at end-2025, down from 134.1 million ounces at end-2024 mainly due to asset divestitures.
The portfolio also includes 12.5 million tonnes of copper and 442 million ounces of silver attributable to Newmont.
CEO Natascha Viljoen highlights that this reserve base remains the world’s largest, underpinning decades of production and growth potential.

6 days ago

Press Release

Newmont reports 2025 mineral reserves

NEM

Newmont announced 2025 attributable gold reserves of 118.2 million ounces, down from 134.1 million ounces at year-end 2024, mainly due to asset divestitures.
Attributable copper reserves reached 12.50 million tonnes and silver reserves totalled 442 million ounces at year-end 2025.
Measured & Indicated gold resources stood at 88.10 million ounces, while Inferred resources were 60.60 million ounces, reflecting an 11% and 14% year-over-year decline, respectively.
Updated commodity price assumptions include $2,000/oz for gold and $2,300/oz for gold resources, reflecting market adjustments.

6 days ago

Press Release

Newmont reports 2025 mineral reserves

NEM

Newmont reported 118.2 million attributable gold ounces at end-2025, down from 134.1 million ounces at end-2024, primarily due to asset sales.
The portfolio also includes 12.5 million tonnes of copper and 442 million ounces of silver in attributable reserves.
CEO Natascha Viljoen noted Newmont retains the largest gold reserve position in the sector, equating to decades of production with significant growth potential.

6 days ago

Press Release

Newmont reports Q4 2025 results

NEM

Earnings

Guidance Update

Dividends

New CEO Natascha Viljoen reaffirms focus on safety, cost and capital discipline, project development, and introduces an enhanced capital allocation framework with a 4% dividend increase.
Achieved full-year 2025 guidance: produced 5.7 M oz gold, 28 M oz silver, 135 kt copper; generated $7.3 B free cash flow (Q4: $2.8 B); returned $3.4 B to shareholders and divested $4.5 B of non-core assets.
2026 outlook: total attributable production of 5.3 M oz (3.9 M oz managed, 1.4 M oz non-managed) with modest H2 weighting; first-quarter free cash flow expected to be lower due to normal seasonality.
Capital allocation priorities: sustain $1.1 B annual dividend (Q4 dividend of $0.26 per share), target net cash of $1 B ± $2 B (min. cash $5 B), then allocate excess cash to share repurchases after sustaining and development capital.

Feb 19, 2026, 10:30 PM

Transcript

Newmont reports Q4 2025 results and 2026 outlook

NEM

Earnings

Guidance Update

Dividends

Newmont achieved 5.7 million ounces of gold, 28 million ounces of silver and 135,000 tons of copper in 2025, meeting full-year guidance and closing Q4 with $2.8 billion in free cash flow.
For the full year, Newmont generated $7.3 billion in free cash flow, realized $4.5 billion from non-core divestitures and returned $3.4 billion to shareholders via dividends and share repurchases.
Gold reserves stand at 180 million ounces with an additional 149 million ounces of resource (~40 years of production), and the reserve price assumption was raised from $1,700 to $2,000 per ounce.
2026 guidance includes 5.3 million ounces of gold production and All-in-Sustaining Costs of ~$1,680/oz, underpinned by ongoing projects at Ahafo North, Tanami Expansion Two and Cadia panel caves.
Introduced an enhanced capital allocation framework featuring a 4% dividend increase to $0.26 per share, a $1.1 billion annual dividend commitment, sustaining and development capital priorities, and excess cash for share buybacks.

Feb 19, 2026, 10:30 PM

Transcript

Newmont reports Q4 2025 results

NEM

Earnings

Dividends

Share Buyback

Achieved full-year core portfolio gold production of 5.7 Moz, meeting guidance and improving cost performance.
Generated record free cash flow of $7.3 B, driven by margin expansion and a 21% reduction in G&A expenses.
Returned $3.4 B to shareholders through dividends and share repurchases, while reducing debt by $3.4 B to end 2025 with a net cash position.
Delivered an all-time record adjusted net income of $6.89 per share and fully implemented the Always Safe safety program across the organization.

Feb 19, 2026, 10:30 PM

Presentation

Newmont reports Q4 2025 results

NEM

Earnings

Dividends

Share Buyback

Newmont achieved full-year 2025 production and cost guidance, producing 5.7 M oz gold, 28 M oz silver, and 135 k t copper.
Strong financial performance: $2.8 B free cash flow in Q4 and $7.3 B for FY 2025; generated $4.5 B from non-core divestitures and returned $3.4 B to shareholders via dividends and buybacks.
Introduced an enhanced capital allocation framework with a $1.1 B/year sustainable dividend, a net cash target of $1 B ± $2 B (minimum cash $5 B), and excess cash deployed to ratable share repurchases.
Maintained industry-leading reserve base of 180 M oz gold and 149 M oz gold resources (~40 years of production); reserve price assumption raised to $2,000/oz.
Issued a notice of default to JV partner Barrick over operational performance at Nevada Gold Mines; no further details disclosed due to confidentiality provisions.

Feb 19, 2026, 10:30 PM

Transcript

Newmont reports 2025 mineral reserves update

NEM

Guidance Update

Gold Mineral Reserves totaled 118.2 million attributable ounces at year-end 2025, down from 134.1 million ounces in 2024, primarily due to asset divestments and mining depletion.
Copper Mineral Reserves were 12.5 million attributable tonnes, slightly below 13.5 million tonnes in 2024, driven by the reclassification of the Yanacocha Sulfides project to resources.
Silver reserves stood at 442 million ounces, down from 530 million ounces in the prior year, reflecting reclassification and depletion at Peñasquito.
Price assumptions for reserve calculations increased to $2,000/oz for gold, $3.75/lb for copper, and $25/oz for silver, with resource prices at $2,300/oz for gold.
2026 exploration outlook targets $240 million in consolidated spending, including $205 million for managed operations and $35 million for non-managed joint ventures.