Gold and base-metal price volatility
Revenue and cash flow are directly tied to market prices for gold, copper, silver, lead and zinc.
- Scope
- All operating mines
- Materiality
- high
NEWMONT Corp /DE/
Newmont Corporation is a U.S.-based mining company focused on extracting and processing gold, with additional output of copper, silver, lead and zinc from a global portfolio of mines. The company operates through a network of owned and partially owned mining assets across the Americas, Australia, Africa and Papua New Guinea, and has been reshaping its portfolio through major acquisitions and divestitures after the Newcrest transaction.
31,3 %
+21,3 %
2.29
2.29
| % | |
|---|---|
| Gold production | 80% Primary production of doré and concentrate from operating mines and joint ventures. |
| Copper production | 10% Copper output from gold-copper mines such as Cadia, Boddington, Red Chris and Telfer. |
| Other metals | 5% Silver, lead and zinc co-product sales, mainly from polymetallic assets like Peñasquito. |
| Development and expansion projects | 5% Capital-intensive projects that expand mine life or add new production, such as Tanami Expansion 2 and Ahafo North. |
Newmont sells into the global precious metals and industrial metals markets rather than to a concentrated customer base...
- Gold bullion and refining marketprimary
Buys doré and refined gold output from Newmont's mines for investment, jewelry and reserve purposes.
- Copper and concentrate buyerssecondary
Purchases copper-bearing concentrate from mines such as Cadia, Boddington and Red Chris for smelting and industrial use.
- Polymetallic metal buyerssecondary
Buys silver, lead and zinc co-products, especially from Peñasquito and similar assets.
- Host governments and regulatorsprimary
Receive royalties, taxes and permit-related payments that determine operating economics and access to reserves.
Newmont's operating footprint spans the United States, Australia, Ghana, Papua New Guinea, Suriname, Argentina, the...
- •Operations span the U.S., Australia, Ghana, PNG, Latin America and Canada
- •Mine economics depend on local royalties, taxes, customs duties and permits
- •Australia and North America provide core operating scale and infrastructure
- •Ghana exposure is important due to fiscal and royalty regime changes
- •Latin America adds reserve depth but increases political and community risk
Newmont's strategy is centered on portfolio optimization, focusing capital on long-life core mines and divesting...
01
Portfolio optimization and divestituresshort-term
Reduces complexity and concentrates capital on higher-quality, core assets.
02
Develop major growth projectsmedium-term
Adds production, extends mine life and supports reserve replacement.
03
Capital return and balance sheet flexibilityshort-term
Supports shareholder returns while preserving funding capacity for long-cycle mining projects.
Newmont is highly exposed to gold and base-metal price cycles, so changes in commodity prices can quickly affect...
Jurisdictional fiscal and regulatory changes
Royalties, taxes, customs duties and permit terms vary by country and can change economics quickly.
- Scope
- Ghana, Australia, Latin America, North America
- Materiality
- high
Operational and project execution risk
Large mine expansions and development projects can face delays, cost inflation and technical setbacks.
- Scope
- Tanami Expansion 2, Ahafo North, Cadia Panel Caves
- Materiality
- high
Cybersecurity and technology risk
Remote operations, cloud systems and AI-enabled tools expand the attack surface and data integrity risk.
- Scope
- Global operations and third-party vendors
- Materiality
- medium
Anti-bribery and trade compliance risk
Cross-border mining operations increase exposure to sanctions, export controls and corruption investigations.
- Scope
- International operations and supply chain
- Materiality
- medium
Reserve and mine-life estimates
Changes can affect depreciation, impairment and reserve disclosures
Reclamation and remediation provisions
Revisions can materially change operating expense and liabilities
Impairment of development and held-for-sale assets
Can create large non-cash charges and reduce comparability
Business combination and divestiture accounting
Impacts goodwill, purchase accounting adjustments and gain/loss on disposal
Income taxes by jurisdiction
Can cause volatility in reported tax expense and net income
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: 11/08/2026