Newmont Reports 2021 Mineral Reserves of 93 million Gold Ounces and 65 million Gold Equivalent Ounces

Rhea-AI Summary

Newmont Corporation (NYSE: NEM) reported a slight decrease in gold Mineral Reserves for 2021, totaling 92.8 million ounces, down from 94.2 million at the end of 2020. The company expanded its reserves with the acquisition of Buenaventura's interest in Minera Yanacocha, adding 2.7 million ounces of gold and other significant resources. Over 90% of reserves are in top-tier jurisdictions, and the company maintains a gold reserve life of over 10 years. Notably, copper reserves stand at 15.1 billion pounds.

Exploration expenditures are projected at $250 million for 2022, focusing on near-mine expansions.

Positive

• Gold mineral reserves slightly decreased but maintained strong figures at 92.8 million ounces.
• Acquisition of Buenaventura's interest strengthens overall reserves with an addition of 2.7 million ounces.
• Over 90% of gold reserves located in top-tier jurisdictions.
• Gold reserve life at operating sites exceeds 10 years.
• Significant copper reserves of 15.1 billion pounds reinforce diversification.

Negative

• Gold mineral reserves experienced a net decrease due to depletion of 7.1 million ounces.
• Unfavorable net revisions of 0.8 million ounces impacted overall reserve figures.

DENVER--(BUSINESS WIRE)-- Newmont Corporation (NYSE: NEM, TSX: NGT) reported gold Mineral Reserves (reserves) of 92.8 million attributable ounces for 2021 compared to the Company’s 94.2 million ounces at the end of 2020. Newmont has significant upside to other metals, including more than 15 billion pounds of copper reserves and nearly 600 million ounces of silver reserves. In addition, reserves and resources were further strengthened with the purchase of Buenaventura's 43.65% interest in Minera Yanacocha in February 2022, adding 2.7 million ounces of gold reserves, 11.0 million gold resources, 700 million pounds of copper reserves and 2.6 billion copper resources.¹

PERCENTAGE OF GOLD RESERVES BY JURISDICTION

"Newmont's world-class portfolio of operations and projects is underpinned by a robust foundation of reserves and resources, along with the most extensive exploration program in the industry," said Tom Palmer, President and CEO. "In 2021, more than 80 percent of depletion was replaced as we continue to progress our most profitable greenfield and near-mine projects. Exploration continues to be a core competency at Newmont with a focus on extending mine life, developing districts, and discovering new opportunities in the most favorable jurisdictions."

KEY HIGHLIGHTS AND DIFFERENTIATORS:

• Robust gold Mineral Reserves of 92.8 million ounces
• Over 90 percent of gold reserves in top-tier jurisdictions
• Addition of 6.5 million ounces in 2021 primarily through drilling
• Gold reserve life at operating sites of 10 years or more, underpinned by a strong base at Boddington, Tanami, Ahafo, Yanacocha, Peñasquito, and Nevada Gold Mines (NGM), and further enhanced from our seven other operating mines and equity ownership in Pueblo Viejo
• Significant gold reserves per share with 120 ounces per 1,000 shares, including the purchase of Buenaventura's interest in Minera Yanacocha
• Measured & Indicated gold Mineral Resources of 68.3 million ounces and Inferred of 33.2 million ounces
• Significant exposure to copper with 15.1 billion pounds in reserves, 17.8 billion pounds in Measured & Indicated resources and 8.6 billion pounds in Inferred resources
• Additional exposure to other metals such as silver, zinc, and lead mainly at Peñasquito
• Announced the acquisition of Buenaventura's 43.65% interest in Minera Yanacocha in February 2022; further enhancing world-class asset ownership with a consistent district consolidation strategy¹

PERCENTAGE OF GOLD RESERVES BY JURISDICTION²

Newmont’s reserve base is a key differentiator with over 90 percent of gold reserves located in top-tier jurisdictions, an operating reserve life of more than 10 years and average reserve grade of 1.06 grams per tonne. In addition, Newmont has substantial exposure to other metals, with 65 million gold equivalent ounces³ from copper, silver, zinc, lead and molybdenum.

PROVEN & PROBABLE GOLD RESERVES
In millions of ounces
2020 Gold Reserves	94.2
Additions	6.5
Net Revisions	(0.8	)
Depletion	(7.1	)
Reported 2021 Gold Reserves	92.8
Minera Yanacocha Transaction4	2.7
Adjusted 2021 Gold Reserves	95.5

For 2021, Newmont reported 92.8 million ounces of gold Mineral Reserves, slightly lower than the prior year total of 94.2 million ounces. Depletion of 7.1 million ounces and unfavorable net revisions of 0.8 million ounces were largely offset by additions of 6.5 million ounces.

Additions before revisions of 6.5 million ounces through exploration met the Company’s target despite higher costs and challenges created by the pandemic with travel restrictions and additional safety protocols. Notable reserve additions for the year from Newmont’s operating sites included:

• Cerro Negro added 1.1 million ounces primarily due to drilling in the Eastern Districts
• Tanami added 0.8 million ounces largely due to the first declaration of reserves at Liberator
• Éléonore added 0.4 million ounces primarily from drilling
• Merian added 0.4 million attributable ounces primarily from drilling at the Maraba open pit
• Ahafo added 0.4 million ounces primarily from drilling and updated technical assumptions at Subika Underground
• Newmont’s 38.5 percent interest in NGM added 3.0 million attributable ounces primarily from drilling at Goldrush

Net unfavorable revisions include 0.9 million ounces at Cerro Negro due to reserve downgrades related to drill spacing studies and updated technical assumptions. In addition gold Mineral Reserves reported negative revisions of 0.4 million ounces at Tanami, 0.2 million ounces at Boddington, 0.2 million ounces at Porcupine underground and 0.2 million ounces at Pueblo Viejo. Negative revisions were partially offset by favorable revisions of 0.6 million attributable ounces at NGM and 0.4 million ounces at Éléonore, in addition to acquisitions of 0.1 million attributable ounces related to South Arturo at NGM.

Newmont’s 38.5 percent interest in NGM represented 19.3 million attributable ounces of gold reserves at year end, as compared to 17.4 million ounces at the end of 2020. Pueblo Viejo represented 3.6 million attributable ounces of gold reserves at year end as compared to 4.1 million ounces at the end of 2020, representing Newmont’s 40 percent interest.

Gold reserve grade improved three percent to 1.06 grams per tonne compared to 1.03 grams per tonne in the prior year largely due to higher-grade reserves from the Company’s 38.5 percent equity ownership in Nevada Gold Mines and positive results from our underground managed operations, including Éléonore, Tanami and Porcupine.

MEASURED & INDICATED GOLD RESOURCES						INFERRED GOLD RESOURCES
In millions of ounces						In millions of ounces
2020 Gold Resources	69.6					2020 Gold Resources	31.6
Additions	1.6					Additions	3.3
Net Revisions	3.0					Net Revisions	0.6
Conversions	(5.9	)				Conversions	(2.3	)
Reported 2021 Gold Resources	68.3					Reported 2021 Gold Resources	33.2
Minera Yanacocha Transaction4	7.4					Minera Yanacocha Transaction4	3.6
Adjusted 2021 Gold Resources	75.7					Adjusted 2021 Gold Resources	36.8

In 2021, Newmont reported Measured and Indicated gold Mineral Resources of 68.3 million ounces as compared to 69.6 million ounces in the prior year. Inferred gold Mineral Resources totaled 33.2 million ounces as compared to 31.6 million ounces in 2020. In total, resource conversions to reserves were more than offset by additions and net positive revisions.

Measured and Indicated Gold Mineral Resources added through exploration programs were 1.6 million ounces and included notable additions before revisions of 0.3 million ounces at Tanami and 0.2 million ounces at Ahafo South underground.

Measured and Indicated gold Mineral Resources reported net revisions of 3.0 million ounces mainly driven by positive revisions of 1.3 million ounces at Boddington and 0.6 million ounces at Tanami. Additionally NGM added 2.1 million attributable ounces. Positive revisions were partially offset by negative revisions, including 1.1 million ounces at CC&V and 0.5 million ounces at Peñasquito.

Inferred Gold Mineral Resources added through exploration programs were 3.3 million ounces and included notable additions before revisions of 0.4 million ounces at Ahafo South, 0.4 million ounces at Éléonore, 0.4 million ounces at Cerro Negro and 0.4 million ounces at Tanami. Additionally, NGM added 0.8 million attributable ounces.

Inferred Gold Mineral Resources reported net revisions of 0.6 million ounces mainly driven by positive revisions of 0.6 million ounces at Cerro Negro and 0.3 million ounces at Ahafo South underground. Additionally, NGM added 1.1 million attributable ounces. Positive revisions were partially offset by negative revisions of 0.7 million ounces at Peñasquito and 0.5 million ounces at Tanami.

Newmont’s Measured and Indicated gold Mineral Resource grade increased slightly to 0.66 grams per tonne compared to 0.65 grams per tonne in the prior year. Inferred gold Mineral Resource grade of 0.69 grams per tonne increased compared with 0.65 grams per tonne from 2020.

OTHER METALS

In 2021, copper reserves decreased slightly to 15,090 million pounds from 15,220 pounds in the prior year primarily due to mining depletion. Copper resources increased to 17,820 million pounds of Measured & Indicated and 8,640 million pounds of Inferred from 17,620 million pounds of Measured and Indicated and 8,620 million pounds of Inferred due to the addition of a layback at Boddington. 2021 copper figures exclude 700 million pounds of reserves and 2,645 million pounds of resources acquired through the purchase of Buenaventura's 43.65% interest in Minera Yanacocha in February 2022.

Silver reserves decreased from 613 million ounces to 568 million ounces in the prior year, largely due to depletion at Peñasquito. Silver resources also decreased to 422 million ounces of Measured & Indicated and 163 million ounces of Inferred from 482 million ounces of Measured and Indicated and 204 million ounces of Inferred due to design updates at Peñasquito. 2021 silver figures exclude 49 million pounds of resources acquired through the purchase of Buenaventura's 43.65% interest in Minera Yanacocha in February 2022.

Lead reserves decreased to 2,580 million pounds from 2,940 million pounds in the prior year, and zinc reserves also decreased to 6,250 million pounds from 6,810 million pounds. These decreases are largely due to depletion at Peñasquito. Measured & Indicated lead resources decreased to 1,230 million pounds from 1,700 million pounds and Inferred lead resources decreased to 480 million pounds from 900 million pounds. Measured & Indicated zinc resources decreased to 2,690 million pounds from 3,700 million pounds and Inferred zinc resources decreased to 1,070 million pounds from 1,700 million pounds. These decreases are primarily due to design updates at Peñasquito.

1		The reserve and resource table contained herein reflect Newmont's ownership as of December 31, 2021. Investors are reminded that with the February 8, 2022 closing of Newmont's acquisition of Buenaventura's 43.65% interest in Minera Yanacocha, Newmont now holds a 95% interest.
2		North America includes 38.5 percent interest in Nevada Gold Mines; South America includes Newmont's 40 percent interest in Pueblo Viejo.
3		Gold Equivalent Ounces calculated using Mineral Reserve pricing as shown below and metallurgical recoveries for each metal on a site by site basis.
4		In February 2022, Newmont acquired Buenaventura's 43.65% interest in Minera Yanacocha.

EXPLORATION OUTLOOK

Newmont’s attributable exploration expenditure for managed operations is expected to be approximately $250 million in 2022 with 80 percent of total exploration investment dedicated to near-mine expansion programs and the remaining 20 percent allocated to the advancement of greenfield projects.

Additionally, Newmont’s share of exploration investment for its non-managed joint ventures will total approximately $45 million.

Geographically, the Company expects to invest approximately 38 percent in North America, 23 percent in South America, 17 percent in Australia and the remainder in Africa and other locations.

GOLD RESERVE SENSITIVITY

A $100 increase in gold price would result in an approximate six percent increase in gold reserves while a $100 decrease in gold price would result in an approximate eight percent decrease in gold reserves. These sensitivities assume an oil price of $60 per barrel (WTI), Australian dollar exchange rate of $0.75 and Canadian dollar exchange rate of $0.77.

For additional details on Newmont’s reported Gold, Copper, Silver, Zinc, Lead and Molybdenum Mineral Reserves and Mineral Resources, please refer to the tables at the end of this release.

KEY RESERVE AND RESOURCE ASSUMPTIONS:
	At December 31,
	2021	2020
Gold Reserves (US$/oz.)	$1,200	$1,200
Gold Resources (US$/oz.)	$1,400	$1,400
Copper Reserves (US$/lb.)	$2.75	$2.75
Copper Resources (US$/lb.)	$3.25	$3.25
Silver Reserves (US$/oz.)	$20.00	$17.00
Silver Resources (US$/oz.)	$23.00	$20.00
Zinc Reserves (US$/lb.)	$1.15	$1.15
Zinc Resources (US$/lb.)	$1.40	$1.40
Lead Reserves (US$/lb.)	$0.90	$0.90
Lead Resources (US$/lb.)	$1.10	$1.10
Australian Dollar (A$:US$)	$0.75	$0.75
Canadian Dollar (C$:US$)	$0.77	$0.77
Mexican Peso (M$:US$)	$19.50	$19.50
West Texas Intermediate (US$/bbl.)	$60	$50

RESERVE AND RESOURCE TABLES

Proven and Probable reserves are based on extensive drilling, sampling, mine modeling and metallurgical testing from which we determine economic feasibility. The price sensitivity of reserves depends upon several factors including grade, metallurgical recovery, operating cost, waste-to-ore ratio and ore type. Metallurgical recovery rates vary depending on the metallurgical properties of each deposit and the production process used. The reserve tables included in this release list the average metallurgical recovery rate for each deposit, which takes into account the assumed processing methods. The cut-off grade, or lowest grade of material considered economic to process, varies with material type, price, metallurgical recoveries, operating costs and co- or by-product credits. The Proven and Probable reserve figures presented herein are estimates based on information available at the time of calculation. No assurance can be given that the indicated levels of recovery of gold, silver, copper, lead, zinc and molybdenum will be realized. Ounces of gold and silver or tonnes of copper, zinc, lead, or molybdenum included in the Proven and Probable reserves are those contained prior to losses during metallurgical treatment. Reserve estimates may require revision based on actual production. Market fluctuations in the price of gold, silver, copper, zinc, lead, or molybdenum, as well as increased production costs or reduced metallurgical recovery rates, could render certain Proven and Probable reserves containing relatively lower grades of mineralization uneconomic to exploit and might result in a reduction of reserves.

The Measured, Indicated, and Inferred resource figures presented herein are estimates based on information available at the time of calculation and are exclusive of reserves. A “Mineral Resource” is a concentration or occurrence of solid material of economic interest in or on the Earth’s crust in such form, grade, or quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade or quality, continuity and other geological characteristics of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling. Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories. Ounces of gold and silver or tonnes of copper, zinc, lead, and molybdenum included in the Measured, Indicated and Inferred resources are those contained prior to losses during metallurgical treatment. Market fluctuations in the price of gold, silver, copper, zinc, lead and molybdenum, as well as increased production costs or reduced metallurgical recovery rates, could change future estimates of resources. Please refer to the reserves and resources cautionary statement at the end of the release.

Proven and Probable reserves disclosed at December 31, 2021 have been prepared in accordance with the new Regulation S-K 1300 requirements of the SEC; whereas Proven and Probable reserves disclosed at December 31, 2020 have been prepared in accordance with the SEC’s Industry Guide 7 ("IG7"). Our historical methodology applied to the prior year of estimating reserves was not significantly impacted as a result of the change from IG7 to S-K 1300, therefore we believe the amounts presented at December 31, 2021 and 2020, under the respective methodologies, are comparable.

We publish reserves annually, and will recalculate reserves at December 31, 2022, taking into account metal prices, changes, if any, to future production and capital costs, divestments and depletion as well as any acquisitions and additions during 2022.

Attributable Proven, Probable and Combined Gold Reserves (1)
December 31, 2021																			December 31, 2020
					Proven Reserves				Probable Reserves				Proven and Probable Reserves						Proven and Probable Reserves
					Tonnage (2)	Grade	Gold (3)		Tonnage (2)	Grade	Gold (3)		Tonnage (2)	Grade	Gold (3)				Tonnage (2)	Grade	Gold (3)
Deposits/Districts		Newmont Share			(000 tonnes)	(g/tonne)	Ounces (000)		(000 tonnes)	(g/tonne)	Ounces (000)		(000 tonnes)	(g/tonne)	Ounces (000)		Metallurgical Recovery		(000 tonnes)	(g/tonne)	Ounces (000)
North America
CC&V Open Pits (4)		100	%		70,700	0.44	1,000		15,400	0.37	180		86,100	0.43	1,180		60	%	105,200	0.48	1,610
CC&V Leach Pads (4)(5)		100	%		—		—		31,200	0.81	810		31,200	0.81	810		57	%	33,000	0.82	880
Total CC&V, Colorado					70,700	0.44	1,000		46,600	0.66	990		117,300	0.53	1,990		59	%	138,200	0.56	2,490
Musselwhite, Canada (6)		100	%		2,800	5.07	460		6,700	6.07	1,310		9,500	5.77	1,770		96	%	8,900	6.25	1,790
Porcupine Underground (7)		100	%		2,300	7.24	530		900	7.97	240		3,200	7.46	770		92	%	5,000	6.90	1,100
Porcupine Open Pit (8)		100	%		5,900	1.60	310		33,700	1.41	1,520		39,600	1.44	1,830		94	%	42,300	1.43	1,950
Total Porcupine, Canada					8,200	3.19	840		34,600	1.58	1,760		42,800	1.89	2,600		93	%	47,300	2.01	3,050
Éléonore, Canada (9)		100	%		2,200	5.03	350		9,000	5.06	1,470		11,200	5.05	1,820		91	%	7,800	5.00	1,260
Peñasquito Open Pits		100	%		107,200	0.62	2,140		219,100	0.56	3,910		326,300	0.58	6,050		69	%	348,200	0.60	6,680
Peñasquito Stockpiles (10)		100	%		7,800	0.43	110		27,900	0.19	170		35,700	0.24	280		69	%	39,600	0.33	420
Total Peñasquito, Mexico (11)					115,000	0.61	2,250		247,000	0.51	4,080		362,000	0.54	6,330		69	%	387,800	0.57	7,100
TOTAL NORTH AMERICA					198,900	0.77	4,900		343,900	0.87	9,610		542,800	0.83	14,510		78	%	590,000	0.83	15,690
South America
Yanacocha Open Pits (12)		51.35	%		16,500	0.66	350		68,200	0.68	1,490		84,700	0.68	1,840		57	%	95,100	0.66	2,020
Yanacocha Underground (13)		51.35	%		—		—		7,000	6.20	1,390		7,000	6.20	1,390		97	%	7,000	6.20	1,390
Total Yanacocha, Peru (26)					16,500	0.66	350		75,200	1.19	2,880		91,700	1.10	3,230		74	%	102,100	1.04	3,410
Merian, Suriname (14)		75	%		47,100	1.36	2,050		54,500	1.11	1,950		101,600	1.22	4,000		93	%	107,500	1.15	3,970
Cerro Negro, Argentina (15)		100	%		1,800	8.93	500		7,200	8.88	2,060		9,000	8.89	2,560		94	%	9,000	8.90	2,570
Pueblo Viejo Open Pits		40	%		5,000	2.20	350		8,200	2.33	620		13,200	2.28	970		89	%	19,600	2.34	1,470
Pueblo Viejo Stockpiles (10)		40	%		—		—		37,400	2.20	2,640		37,400	2.20	2,640		89	%	35,800	2.30	2,640
Total Pueblo Viejo, Dominican Republic (16)					5,000	2.20	350		45,600	2.22	3,260		50,600	2.22	3,610		89	%	55,400	2.31	4,110
NuevaUnión, Chile (17)		50	%		—		—		341,100	0.47	5,110		341,100	0.47	5,110		66	%	341,100	0.47	5,110
Norte Abierto, Chile (18)		50	%		—		—		598,800	0.60	11,620		598,800	0.60	11,620		74	%	598,800	0.60	11,620
TOTAL SOUTH AMERICA					70,400	1.44	3,250		1,122,400	0.75	26,880		1,192,800	0.79	30,130		78	%	1,213,900	0.79	30,790
Australia
Boddington Open Pit		100	%		237,400	0.70	5,360		239,100	0.66	5,080		476,500	0.68	10,440		86	%	534,700	0.67	11,490
Boddington Stockpiles (16)		100	%		2,700	0.68	60		79,100	0.43	1,090		81,800	0.44	1,150		79	%	86,400	0.43	1,200
Total Boddington, Western Australia (19)					240,100	0.70	5,420		318,200	0.60	6,170		558,300	0.65	11,590		85	%	621,100	0.64	12,690
Tanami, Northern Territory (20)		100	%		12,700	4.97	2,040		22,100	5.25	3,740		34,800	5.15	5,780		98	%	36,200	5.05	5,870
TOTAL AUSTRALIA					252,800	0.92	7,460		340,300	0.91	9,910		593,100	0.91	17,370		89	%	657,300	0.88	18,560
Africa
Ahafo South Open Pits (21)		100	%		11,800	2.35	890		39,700	1.67	2,140		51,500	1.83	3,030		95	%	50,000	1.90	3,050
Ahafo South Underground (22)		100	%		9,400	3.76	1,140		12,700	2.68	1,100		22,100	3.14	2,240		94	%	17,100	3.53	1,940
Ahafo South Stockpiles (10)		100	%		28,300	0.92	830		—		—		28,300	0.92	830		89	%	36,200	0.92	1,070
Total Ahafo South, Ghana					49,500	1.80	2,860		52,400	1.92	3,240		101,900	1.86	6,100		94	%	103,300	1.82	6,060
Ahafo North, Ghana (23)		100	%		—		—		46,300	2.40	3,570		46,300	2.40	3,570		91	%	45,100	2.40	3,480
Akyem Open Pit (24)		100	%		15,800	1.61	810		10,900	1.89	660		26,700	1.72	1,470		92	%	34,200	1.70	1,870
Akyem Stockpiles (10)		100	%		13,900	0.78	350		—		—		13,900	0.78	350		91	%	15,100	0.82	400
Total Akyem, Ghana					29,700	1.22	1,160		10,900	1.89	660		40,600	1.40	1,820		91	%	49,300	1.43	2,270
TOTAL AFRICA					79,200	1.58	4,020		109,600	2.12	7,470		188,800	1.89	11,490		92	%	197,700	1.86	11,810
Nevada
NGM Open Pits		38.5	%		10,000	1.86	600		119,500	1.21	4,650		129,500	1.26	5,250		70	%	134,300	1.26	5,440
NGM Stockpiles (10)		38.5	%		14,300	2.03	940		14,900		1,250		29,200	2.33	2,190		68	%	33,300	2.36	2,530
NGM Underground		38.5	%		13,600	9.95	4,340		28,000	8.39	7,560		41,600	8.90	11,900		88	%	29,700	9.85	9,420
TOTAL NEVADA (25)					37,900	4.82	5,880		162,400	2.58	13,460		200,300	3.00	19,340		81	%	197,300	2.74	17,390
TOTAL NEWMONT					639,200	1.24	25,510		2,078,600	1.01	67,330		2,717,800	1.06	92,840		81	%	2,856,200	1.03	94,240

(1)		See cautionary statement regarding reserves and resources. 2021 and 2020 reserves were estimated at a gold price of $1,200 per ounce unless otherwise noted.
(2)		Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to the nearest 100,000.
(3)		Ounces are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Ounces may not recalculate as they are rounded to the nearest 10,000.
(4)		Cut-off grades utilized in 2021 reserves were as follows: oxide mill material not less than 1.32 gram per tonne and leach material not less than 0.10 gram per tonne.
(5)		Leach pad material is the material on leach pads at the end of the year from which gold remains to be recovered. In-process reserves are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.
(6)		Cut-off grade utilized in 2021 reserves not less than 3.10 gram per tonne.
(7)		Cut-off grade utilized in 2021 reserves not less than 4.00 gram per tonne.
(8)		Cut-off grade utilized in 2021 reserves not less than 0.44 gram per tonne.
(9)		Cut-off grade utilized in 2021 reserves not less than 4.30 gram per tonne.
(10)		Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.
(11)		Gold cut-off grade varies with level of silver, lead and zinc credits.
(12)		Gold cut-off grades utilized in 2021 reserves were as follows: oxide leach material not less than 0.07 gram per tonne and refractory mill material not less than 1.45 gram per tonne.
(13)		Gold cut-off grades utilized in 2021 reserves were as follows: oxide mill material not less than 2.10 gram per tonne and refractory mill material varies with level of copper and silver credits.
(14)		Cut-off grade utilized in 2021 reserves not less than 0.33 gram per tonne.
(15)		Cut-off grade utilized in 2021 reserves not less than 5.00 gram per tonne.
(16)		The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Reserve estimates provided by Barrick, the operator of Pueblo Viejo.
(17)		Project is currently undeveloped. Reserve estimates provided by the NuevaUnión joint venture.
(18)		Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture
(19)		Gold cut-off grade varies with level of copper credits.
(20)		Cut-off grade utilized in 2021 reserves not less than 2.20 gram per tonne.
(21)		Cut-off grade utilized in 2021 reserves not less than 0.46 gram per tonne.
(22)		Cut-off grade utilized in 2021 reserves not less than 2.40 gram per tonne.
(23)		Cut-off grade utilized in 2021 reserves not less than 0.57 gram per tonne.
(24)		Cut-off grade utilized in 2021 reserves not less than 0.56 gram per tonne.
(25)		Reserve estimates provided by Barrick, the operator of the NGM joint venture.
(26)		In February 2022, the Company increased its ownership interest in Yanacocha to 95% by acquiring Buenaventura’s 43.65% noncontrolling interest. See Note 1 of the Consolidated Financial Statements for further information.

Attributable Gold Mineral Resources (1)(2) - December 31, 2021
					Measured Resource				Indicated Resource				Measured and Indicated Resource (3)				Inferred Resource
		Newmont			Tonnage	Grade	Gold		Tonnage	Grade	Gold		Tonnage	Grade	Gold		Tonnage	Grade	Gold
Deposits/Districts		Share			(000 tonnes)	(g/tonne)	Ounces (000)		(000 tonnes)	(g/tonne)	Ounces (000)		(000 tonnes)	(g/tonne)	Ounces (000)		(000 tonnes)	(g/tonne)	Ounces (000)		Metallurgical Recovery
North America
CC&V,Colorado		100	%		54,000	0.41	700		24,100	0.38	300		78,100	0.40	1,000		12,700	0.39	160		62	%
Musselwhite, Canada		100	%		1,400	3.58	160		2,300	3.55	270		3,700	3.56	430		3,200	4.22	440		96	%
Porcupine Underground		100	%		300	5.25	50		900	6.12	180		1,200	5.92	230		1,100	6.43	220		92	%
Porcupine Open Pit		100	%		500	0.49	10		83,200	1.40	3,750		83,700	1.40	3,760		77,000	1.24	3,070		92	%
Total Porcupine, Canada					800	2.33	60		84,100	1.45	3,930		84,900	1.46	3,990		78,100	1.31	3,290		92	%
Éléonore, Canada		100	%		300	5.72	50		1,700	4.73	260		2,000	4.86	310		3,800	5.28	650		91	%
Peñasquito, Mexico		100	%		31,400	0.27	280		176,600	0.27	1,500		208,000	0.27	1,780		89,800	0.40	1,160		69	%
Noche Buena, Mexico		50	%		—	—	—		21,000	0.37	250		21,000	0.37	250		1,600	0.21	10		50	%
Coffee, Canada		100	%		1,000	2.01	60		54,500	1.19	2,080		55,500	1.20	2,140		6,800	1.07	230		80	%
Galore Creek, Canada (3)		50	%		128,400	0.36	1,500		423,400	0.23	3,130		551,800	0.26	4,630		99,100	0.21	670		73	%
TOTAL NORTH AMERICA					217,300	0.40	2,810		787,700	0.46	11,720		1,005,000	0.45	14,530		295,100	0.70	6,610		79	%
South America
Conga, Peru		51.35	%		—	—	—		356,300	0.65	7,490		356,300	0.65	7,490		118,400	0.39	1,480		75	%
Yanacocha Open Pit		51.35	%		5,500	0.42	70		52,400	0.46	770		57,900	0.46	840		96,700	0.80	2,470		66	%
Yanacocha Underground		51.35	%		—	6.29	10		1,800	6.28	370		1,800	6.28	380		1,900	4.93	300		97	%
Total Yanacocha, Peru (9)					5,500	0.45	80		54,200	0.65	1,140		59,700	0.64	1,220		98,600	0.87	2,770		70	%
Merian, Suriname		75	%		4,500	0.94	140		32,600	1.14	1,200		37,100	1.12	1,340		28,500	1.01	920		88	%
Cerro Negro Underground		100	%		100	5.48	20		1,300	7.38	300		1,400	7.25	320		7,500	6.85	1,650		93	%
Cerro Negro Open Pit		100	%		900	4.40	120		1,000	4.09	130		1,900	4.24	250		100	3.49	10		90	%
Total Cerro Negro, Argentina		100	%		1,000	4.51	140		2,300	5.96	430		3,300	5.52	570		7,600	6.82	1,660		93	%
Pueblo Viejo, Dominican Republic (4)		40	%		37,300	2.01	2,410		57,100	1.89	3,470		94,400	1.94	5,880		25,400	1.72	1,410		89	%
NuevaUnión, Chile (5)		50	%		4,800	0.47	70		118,300	0.59	2,260		123,100	0.59	2,330		239,800	0.40	3,050		68	%
Norte Abierto, Chile (6)		50	%		77,200	0.61	1,510		596,900	0.49	9,320		674,100	0.50	10,830		369,600	0.37	4,360		76	%
Agua Rica, Argentina (7)		18.75	%		141,900	0.25	1,150		137,400	0.15	650		279,300	0.20	1,800		139,900	0.09	410		35	%
TOTAL SOUTH AMERICA					272,200	0.63	5,500		1,355,100	0.60	25,960		1,627,300	0.60	31,460		1,027,800	0.49	16,060		73	%
Australia
Boddington, Western Australia		100	%		96,200	0.53	1,640		180,500	0.54	3,110		276,700	0.53	4,750		3,300	0.50	50		84	%
Tanami Open Pit		100	%		10,200	1.88	620		16,600	1.69	900		26,800	1.76	1,520		2,900	1.62	150		90	%
Tanami Underground		100	%		1,400	3.11	140		4,900	4.25	660		6,300	4.00	800		9,600	5.39	1,670		97	%
Total Tanami, Northern Territory		100	%		11,600	2.03	760		21,500	2.27	1,560		33,100	2.18	2,320		12,500	4.53	1,820		97	%
TOTAL AUSTRALIA					107,800	0.69	2,400		202,000	0.72	4,670		309,800	0.71	7,070		15,800	3.68	1,870		89	%
Africa
Ahafo South		100	%		500	0.56	10		30,000	1.16	1,120		30,500	1.15	1,130		13,500	1.33	570		93	%
Ahafo Underground		100	%		—		—		16,600	3.99	2,120		16,600	3.99	2,120		10,800	3.34	1,160		90	%
Total Ahafo South, Ghana					500	0.56	10		46,600	2.16	3,240		47,100	2.15	3,250		24,300	2.21	1,730		91	%
Ahafo North Open Pits, Ghana		100	%		2,800	1.21	100		10,400	1.90	630		13,200	1.76	730		9,800	1.60	500		92	%
Akyem Open Pits		100	%		900	0.57	20		1,100	0.67	20		2,000	0.62	40		1,300	1.43	60		91	%
Akyem Underground		100	%		—		—		6,800	3.69	810		6,800	3.69	810		5,400	2.97	520		93	%
Total Akyem, Ghana					900	0.57	20		7,900	3.27	830		8,800	3.00	850		6,700	2.69	580		92	%
TOTAL AFRICA					4,200	1.01	130		64,900	2.26	4,700		69,100	2.18	4,830		40,800	2.15	2,810		91	%
Nevada
NGM Open Pits and Stockpiles		38.5	%		18,300	1.89	1,110		181,100	0.90	5,230		199,400	0.99	6,340		101,100	0.82	2,670		67	%
NGM Underground		38.5	%		8,500	5.89	1,610		11,900	6.35	2,430		20,400	6.16	4,040		15,300	6.48	3,180		86	%
Total NGM (8)					26,800	3.17	2,720		193,000	1.23	7,660		219,800	1.47	10,380		116,400	1.56	5,850		76	%
TOTAL NEVADA					26,800	3.17	2,720		193,000	1.23	7,660		219,800	1.47	10,380		116,400	1.56	5,850		76	%
TOTAL NEWMONT					628,300	0.67	13,560		2,602,700	0.65	54,710		3,231,000	0.66	68,270		1,495,900	0.69	33,200		76	%

(1)		Resources are reported exclusive of reserves.
(2)		Resources are estimated at a gold price of $1,400 per ounce for 2021 and 2020. Tonnage amounts have been rounded to the nearest 100,000. Ounces may not recalculate as they have been rounded to the nearest 10,000.
(3)		Project is currently undeveloped. Resource estimates provided by Teck Resources.
(4)		Resource estimates provided by Barrick, the operator of Pueblo Viejo.
(5)		Project is currently undeveloped. Resource estimates provided by the NuevaUnión joint venture.
(6)		Project is currently undeveloped. Resource estimates provided by the Norte Abierto joint venture.
(7)		Project is currently undeveloped. Resource estimates provided by Yamana, the operator of the Agua Rica joint venture.
(8)		Resource estimates provided by Barrick, the operator of the NGM joint venture.
(9)		In February 2022, the Company increased its ownership interest in Yanacocha to 95% by acquiring Buenaventura’s 43.65% noncontrolling interest. See Note 1 of the Consolidated Financial Statements for further information.

Attributable Copper Reserves (1)
December 31, 2021																							December 31, 2020
					Proven Reserves					Probable Reserves					Proven and Probable Reserves								Proven and Probable Reserves
		Newmont			Tonnage (2)	Grade		Copper (3)		Tonnage (2)	Grade		Copper (3)		Tonnage (2)	Grade		Copper (3)		Metallurgical			Tonnage (2)	Grade		Copper (3)
Deposits/Districts		Share			(000 tonnes)	(Cu %)		Pounds (millions)		(000 tonnes)	(Cu %)		Pounds (millions)		(000 tonnes)	(Cu %)		Pounds (millions)		Recovery			(000 tonnes)	(Cu %)		Pounds (millions)
South America
Yanacocha Open Pits and Underground, Peru (4)(10)		51.35	%		—			—		57,700	0.61	%	780		57,700	0.61	%	780		84	%		57,700	0.62	%	790
NuevaUnión, Chile (5)		50	%		—			—		1,118,000	0.40	%	9,800		1,118,000	0.40	%	9,800		88	%		1,118,000	0.40	%	9,800
Norte Abierto, Chile (6)		50	%		—			—		598,800	0.22	%	2,890		598,800	0.22	%	2,890		87	%		598,800	0.22	%	2,890
TOTAL SOUTH AMERICA					—			—		1,774,500	0.34	%	13,470		1,774,500	0.34	%	13,470		87	%		1,774,500	0.34	%	13,480
Australia
Boddington Open Pit, Western Australia (7)		100	%		237,400	0.10	%	540		239,100	0.11	%	590		476,500	0.11	%	1,130		82	%		534,700	0.11	%	1,260
Boddington Stockpiles, Western Australia (8)		100	%		2,600	0.09	%	10		79,100	0.09	%	150		81,700	0.09	%	160		77	%		86,400	0.09	%	160
TOTAL AUSTRALIA					240,000	0.10	%	550		318,200	0.11	%	740		558,200	0.11	%	1,290		82	%		621,100	0.10	%	1,420
Nevada
NGM, Nevada (9)		38.5	%		6,900	0.17	%	30		80,200	0.17	%	300		87,100	0.17	%	330		65	%		82,600	0.18	%	320
TOTAL NEVADA					6,900	0.17	%	30		80,200	0.17	%	300		87,100	0.17	%	330		65	%		82,600	0.18	%	320
TOTAL NEWMONT					246,900	0.11	%	580		2,172,900	0.30	%	14,510		2,419,800	0.28	%	15,090		87	%		2,478,200	0.28	%	15,220

(1)		See footnote (1) to the Gold Reserves table above. Copper reserves for 2021 and 2020 were estimated at a copper price of $2.75 per pound.
(2)		See footnote (2) to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.
(3)		Pounds are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Pounds may not recalculate as they are rounded to the nearest 10 million.
(4)		Reserve estimates relate to the undeveloped Yanacocha Sulfide project. Copper cut-off grade varies with level of gold and silver credits.
(5)		Project is currently undeveloped. Reserve estimates provided by the NuevaUnión joint venture.
(6)		Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture.
(7)		Copper cut-off grade varies with level of gold credits.
(8)		Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpiles are reported separately where pounds exceed 100 million and are greater than 5% of the total site reported reserves.
(9)		Reserve estimates provided by Barrick, the operator of the NGM joint venture.
(10)		In February 2022, the Company increased its ownership interest in Yanacocha to 95% by acquiring Buenaventura’s 43.65% noncontrolling interest. See Note 1 of the Consolidated Financial Statements for further information.

Attributable Copper Mineral Resources (1)(2) - December 31, 2021
					Measured Resource				Indicated Resource				Measured and Indicated Resource				Inferred Resource
		Newmont			Tonnage	Grade		Copper	Tonnage	Grade		Copper	Tonnage	Grade		Copper	Tonnage	Grade		Copper
Deposits/Districts		Share			(000 tonnes)	(Cu %)		Pounds (millions)	(000 tonnes)	(Cu %)		Pounds (millions)	(000 tonnes)	(Cu %)		Pounds (millions)	(000 tonnes)	(Cu %)		Pounds (millions)		Metallurgical Recovery
North America
Galore Creek, Canada (3)		50	%		128,400	0.72	%	2,030	423,400	0.39	%	3,630	551,800	0.47	%	5,660	99,100	0.27	%	600		91	%
TOTAL NORTH AMERICA					128,400	0.72	%	2,030	423,400	0.39	%	3,630	551,800	0.47	%	5,660	99,100	0.27	%	600		91	%
South America
Conga, Peru		51.35	%		—	—	%	—	356,300	0.26	%	2,040	356,300	0.26	%	2,040	118,400	0.19	%	490		84	%
Yanacocha Open Pits and Stockpiles		51.35	%		—	—	%	—	48,600	0.39	%	420	48,600	0.39	%	420	18,700	0.39	%	160		80	%
Yanacocha Underground		51.35	%		—	—	%	—	1,800	0.09	%	—	1,800	0.09	%	—	1,900	0.13	%	10		96	%
Total Yanacocha, Peru (8)					—	—	%	—	50,400	0.38	%	420	50,400	0.38	%	420	20,600	0.37	%	170		81	%
NuevaUnión, Chile (4)		50	%		164,300	0.19	%	700	349,900	0.34	%	2,650	514,200	0.30	%	3,350	602,100	0.39	%	5,150		89	%
Norte Abierto, Chile (5)		50	%		57,600	0.24	%	310	551,200	0.19	%	2,340	608,800	0.20	%	2,650	361,700	0.18	%	1,450		90	%
Agua Rica, Argentina (6)		18.75	%		141,900	0.51	%	1,580	137,400	0.36	%	1,100	279,300	0.43	%	2,680	139,900	0.23	%	710		86	%
TOTAL SOUTH AMERICA					363,800	0.32	%	2,590	1,445,200	0.27	%	8,550	1,809,000	0.28	%	11,140	1,242,700	0.29	%	7,970		87	%
Australia
Boddington, Western Australia		100	%		96,200	0.11	%	220	180,500	0.11	%	450	276,700	0.11	%	670	3,300	0.09	%	10		82	%
TOTAL AUSTRALIA					96,200	0.11	%	220	180,500	0.11	%	450	276,700	0.11	%	670	3,300	0.09	%	10		82	%
Nevada
NGM, Nevada (7)		38.5	%		3,100	0.14	%	10	111,500	0.14	%	340	114,600	0.14	%	350	19,900	0.13	%	60		66	%
TOTAL NEVADA					3,100	0.14	%	10	111,500	0.14	%	340	114,600	0.14	%	350	19,900	0.13	%	60		66	%
TOTAL NEWMONT					591,500	0.37	%	4,850	2,160,600	0.27	%	12,970	2,752,100	0.29	%	17,820	1,365,000	0.29	%	8,640		88	%

(1)		Resources are reported exclusive of reserves.
(2)		Resources for 2021 and 2020 were estimated at a copper price of $3.25 per pound. Tonnage amounts have been rounded to the nearest 100,000.
(3)		Project is currently undeveloped. Resource estimates provided by Teck Resources.
(4)		Project is currently undeveloped. Resource estimates provided by the NuevaUnión joint venture.
(5)		Project is currently undeveloped. Resource estimates provided by the Norte Abierto joint venture.
(6)		Project is currently undeveloped. Resource estimates provided by Yamana, the operator of the Agua Rica joint venture.
(7)		Resource estimates provided by Barrick, the operator of the NGM joint venture.
(8)		In February 2022, the Company increased its ownership interest in Yanacocha to 95% by acquiring Buenaventura’s 43.65% noncontrolling interest. See Note 1 of the Consolidated Financial Statements for further information.

Attributable Proven, Probable and Combined Silver Reserves (1)
December 31, 2021																				December 31, 2020
					Proven Reserves				Probable Reserves				Proven and Probable Reserves							Proven and Probable Reserves
					Tonnage (2)	Grade	Silver (3)		Tonnage (2)	Grade	Silver (3)		Tonnage (2)	Grade	Silver (3)					Tonnage (2)	Grade	Silver (3)
Deposits/Districts		Newmont Share			(000 tonnes)	(g/tonne)	Ounces (000)		(000 tonnes)	(g/tonne)	Ounces (000)		(000 tonnes)	(g/tonne)	Ounces (000)		Metallurgical Recovery (3)			(000 tonnes)	(g/tonne)	Ounces (000)
North America
Peñasquito Open Pits, Mexico (4)		100	%		107,200	38.79	133,650		219,100	32.75	230,760		326,300	34.73	364,410		87	%		348,200	35.10	392,890
Peñasquito Stockpiles, Mexico (5)		100	%		7,800	31.10	7,810		27,900	24.15	21,670		35,700	25.67	29,480		87	%		39,600	25.81	32,860
TOTAL NORTH AMERICA					115,000	38.26	141,460		247,000	31.78	252,430		362,000	33.84	393,890		87	%		387,800	34.15	425,750
South America
Yanacocha Open Pits and Underground (6)		51.35	%		1,200	7.57	280		48,900	19.08	30,000		50,100	18.80	30,280		55	%		55,700	17.82	31,910
Yanacocha Stockpiles (5)		51.35	%		1,400	31.48	1,450		—	—	—		1,400	31.48	1,450		75	%		2,700	36.02	3,120
Yanacocha Leach Pads (7)		51.35	%		—	—	—		47,300	8.16	12,400		47,300	8.16	12,400		5	%		55,400	8.18	14,560
Total Yanacocha, Peru (13)					2,600	20.81	1,730		96,200	13.85	42,400		98,800	13.85	44,130		42	%		113,800	13.85	49,590
Cerro Negro, Argentina (8)		100	%		1,700	71.26	4,010		7,200	54.16	12,540		8,900	57.51	16,550		76	%		9,000	70.75	20,420
Pueblo Viejo, Dominican Republic (9)		40	%		5,000	11.18	1,790		45,600	14.85	21,790		50,600	14.49	23,580		77	%		55,400	15.16	26,990
NuevaUnión, Chile (10)		50	%		—	—	—		1,118,000	1.31	47,170		1,118,000	1.31	47,170		66	%		1,118,000	1.31	47,170
Norte Abierto, Chile (11)		50	%		—	—	—		598,800	1.52	29,340		598,800	1.52	29,340		74	%		598,800	1.52	29,340
TOTAL SOUTH AMERICA					9,300	25.14	7,530		1,865,800	2.56	153,240		1,875,100	2.67	160,770		63	%		1,895,000	2.85	173,510
Nevada
NGM, Nevada (12)		38.5	%		5,200	7.40	1,230		60,000	6.35	12,250		65,200	6.43	13,480		38	%		59,800	6.99	13,430
TOTAL NEVADA					5,200	7.40	1,230		60,000	6.35	12,250		65,200	6.43	13,480		38	%		59,800	6.99	13,430
TOTAL NEWMONT					129,500	36.08	150,220		2,172,800	5.98	417,920		2,302,300	7.68	568,140		74	%		2,342,600	8.14	612,690

(1)		See footnote (1) to the Gold Reserves table above. Silver reserves for 2021 and 2020 were estimated at a silver price of $20 and $17 per ounce, respectively.
(2)		See footnote (2) to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.
(3)		See footnote (3) to the Gold Reserves table above. Ounces may not recalculate as they are rounded to the nearest 10,000.
(4)		Silver cut-off grade varies with gold, lead and zinc credits.
(5)		Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.
(6)		Silver cut-off grade varies with gold and copper credits.
(7)		Leach Pad material is the material on leach pads at the end of the year from which silver remains to be recovered. In-process material reserves are reported separately where tonnage or ounces are greater than 5% of the total site-reported reserves and ounces are greater than 100,000.
(8)		Silver cut-off grade varies with gold credits.
(9)		The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Reserve estimates provided by Barrick, the operator of Pueblo Viejo.
(10)		Project is currently undeveloped. Reserve estimates provided by the NuevaUnión joint venture.
(11)		Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture.
(12)		Reserve estimates provided by Barrick, the operator of the NGM joint venture.
(13)		In February 2022, the Company increased its ownership interest in Yanacocha to 95% by acquiring Buenaventura’s 43.65% noncontrolling interest. See Note 1 of the Consolidated Financial Statements for further information.

Attributable Silver Mineral Resources (1)(2) - December 31, 2021
					Measured Resource				Indicated Resource				Measured and Indicated Resource				Inferred Resource
		Newmont			Tonnage	Grade	Silver		Tonnage	Grade	Silver		Tonnage	Grade	Silver		Tonnage	Grade	Silver
Deposits/Districts		Share			(000 tonnes)	(g/tonne)	Ounces (000)		(000 tonnes)	(g/tonne)	Ounces (000)		(000 tonnes)	(g/tonne)	Ounces (000)		(000 tonnes)	(g/tonne)	Ounces (000)		Metallurgical Recovery
North America
Peñasquito, Mexico		100	%		31,400	25.71	25,990		176,600	26.36	149,620		208,000	26.26	175,610		89,800	28.00	80,840		87	%
Noche Buena, Mexico		50	%		—	0.00	—		21,000	13.94	9,400		21,000	13.94	9,400		1,600	11.08	570		25	%
Galore Creek, Canada (3)		50	%		128,400	5.79	23,900		423,400	3.75	51,030		551,800	4.22	74,930		99,100	2.65	8,440		64	%
TOTAL NORTH AMERICA					159,800	9.71	49,890		621,000	10.52	210,050		780,800	10.35	259,940		190,500	14.67	89,850		75	%
South America
Conga, Peru		51.35	%		—	0.00	—		356,300	2.06	23,580		356,300	2.06	23,580		89,900	1.13	3,250		70	%
Yanacocha Open Pits and Stockpiles		51.35	%		4,600	3.31	490		44,600	13.09	18,750		49,200	12.17	19,240		14,400	13.09	6,070		43	%
Yanacocha Underground		51.35	%		—	1.13	—		1,800	64.29	3,760		1,800	62.68	3,760		1,900	37.56	2,260		87	%
Total Yanacocha, Peru (9)					4,600	3.31	490		46,400	15.09	22,510		51,000	14.03	23,000		16,300	15.90	8,330		55	%
Cerro Negro Underground		100	%		100	46.22	140		1,300	57.30	2,360		1,400	56.55	2,500		7,500	39.04	9,400		75	%
Cerro Negro Open Pit		100	%		900	8.53	240		1,000	7.87	250		1,900	8.18	490		100	11.07	20		60	%
Total Cerro Negro, Argentina					1,000	12.15	380		2,300	35.92	2,610		3,300	28.76	2,990		7,600	38.80	9,420		74	%
Pueblo Viejo, Dominican Republic (4)		40	%		37,300	11.51	13,800		57,100	10.85	19,940		94,400	11.11	33,740		25,400	9.00	7,360
NuevaUnión, Chile (5)		50	%		164,300	0.96	5,080		349,800	1.19	13,360		514,100	1.12	18,440		602,100	1.16	22,520		66	%
Norte Abierto, Chile (6)		50	%		77,200	1.20	2,990		596,900	1.07	20,550		674,100	1.09	23,540		369,600	0.95	11,340		78	%
Agua Rica, Argentina (7)		18.75	%		120,200	2.90	11,190		135,700	2.41	10,520		255,900	2.64	21,710		139,300	1.62	7,260		43	%
TOTAL SOUTH AMERICA					404,600	2.61	33,930		1,544,500	2.28	113,070		1,949,100	2.35	147,000		1,250,200	1.73	69,480		61	%
Nevada
NGM, Nevada (8)		38.5	%		2,900	5.57	520		84,000	5.54	14,960		86,900	5.54	15,480		18,900	5.60	3,410		38	%
TOTAL NEVADA					2,900	5.57	520		84,000	5.54	14,960		86,900	5.54	15,480		18,900	5.60	3,410		38	%
TOTAL NEWMONT					567,300	4.62	84,340		2,249,500	4.68	338,080		2,816,800	4.66	422,420		1,459,600	3.47	162,740		66	%

(1)		Resources are reported exclusive of reserves.
(2)		Resource for 2021 and 2020 were estimated at a silver price of $23 and $20 per ounce, respectively. Tonnage amounts have been rounded to the nearest 100,000.
(3)		Project is currently undeveloped. Resource estimates provided by Teck Resources.
(4)		Resource estimates provided by Barrick, the operator of Pueblo Viejo.
(5)		Project is currently undeveloped. Resource estimates provided by the NuevaUnión joint venture.
(6)		Project is currently undeveloped. Resource estimates provided by the Norte Abierto joint venture.
(7)		Project is currently undeveloped. Resource estimates provided by Yamana, the operator of the Agua Rica joint venture.
(8)		Resource estimates provided by Barrick, the operator of the NGM joint venture.
(9)		In February 2022, the Company increased its ownership interest in Yanacocha to 95% by acquiring Buenaventura’s 43.65% noncontrolling interest. See Note 1 of the Consolidated Financial Statements for further information.

Attributable Zinc Reserves (1)
December 31, 2021																							December 31, 2020
					Proven Reserves					Probable Reserves					Proven and Probable Reserves								Proven and Probable Reserves
		Newmont			Tonnage (2)	Grade		Zinc (3)		Tonnage (2)	Grade		Zinc (3)		Tonnage (2)	Grade		Zinc (3)		Metallurgical			Tonnage (2)	Grade		Zinc (3)
Deposits/Districts		Share			(000 tonnes)	(Zn %)		Pounds (millions)		(000 tonnes)	(Zn %)		Pounds (millions)		(000 tonnes)	(Zn %)		Pounds (millions)		Recovery			(000 tonnes)	(Zn %)		Pounds (millions)
North America
Peñasquito Open Pits, Mexico (4)		100	%		107,200	0.96	%	2,260		219,100	0.74	%	3,590		326,300	0.81	%	5,850		81	%		348,200	0.83	%	6,380
Peñasquito Stockpiles, Mexico (5)		100	%		7,800	0.67	%	120		27,900	0.45	%	280		35,700	0.50	%	400		81	%		39,600	0.49	%	430
TOTAL NEWMONT					115,000	0.94	%	2,380		247,000	0.71	%	3,870		362,000	0.78	%	6,250		81	%		387,800	0.80	%	6,810

(1)		See footnote (1) to the Gold Reserves table above. Zinc reserves for 2021 and 2020 were estimated at a zinc price of $1.15 per pound.
(2)		See footnote (2) to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.
(3)		See footnote (3) to the Copper Reserves table above. Pounds may not recalculate as they are rounded to the nearest 10 million.
(4)		Zinc cut-off grade varies with level of gold, silver and zinc credits.
(5)		Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where tonnes exceed 10,000 and are greater than 5% of the total site-reported reserves.

Attributable Zinc Resources (1)(2) - December 31, 2021
					Measured Resource					Indicated Resource				Measured and Indicated Resource				Inferred Resource
		Newmont			Tonnage	Grade		Zinc		Tonnage	Grade		Zinc	Tonnage	Grade		Zinc	Tonnage	Grade		Zinc
Deposits/Districts		Share			(000 tonnes)	(Zn %)		Pounds (millions)		(000 tonnes)	(Zn %)		Pounds (millions)	(000 tonnes)	(Zn %)		Pounds (millions)	(000 tonnes)	(Zn %)		Pounds (millions)		Metallurgical Recovery
North America
Peñasquito, Mexico		100	%		31,400	0.66	%	460		176,600	0.57	%	2,230	208,000	0.59	%	2,690	89,800	0.54	%	1,070		81	%
TOTAL NEWMONT					31,400	0.66	%	460		176,600	0.57	%	2,230	208,000	0.59	%	2,690	89,800	0.54	%	1,070		81	%

(1)		Resources are reported exclusive of reserves.
(2)		Resources for 2021 and 2020 were estimated at a zinc price of $1.40 per pound. Tonnage amounts have been rounded to the nearest 100,000.

Attributable Lead Reserves (1)
December 31, 2021																							December 31, 2020
					Proven Reserves					Probable Reserves					Proven and Probable Reserves								Proven and Probable Reserves
		Newmont			Tonnage (2)	Grade		Lead (3)		Tonnage (2)	Grade		Lead (3)		Tonnage (2)	Grade		Lead (3)		Metallurgical			Tonnage (2)	Grade		Lead (3)
Deposits/Districts		Share			(000 tonnes)	(Pb %)		Pounds (millions)		(000 tonnes)	(Pb %)		Pounds (millions)		(000 tonnes)	(Pb %)		Pounds (millions)		Recovery			(000 tonnes)	(Pb %)		Pounds (millions)
North America
Peñasquito Open Pits, Mexico (4)		100	%		107,200	0.37	%	880		219,100	0.30	%	1,440		326,300	0.32	%	2,320		73	%		348,200	0.34	%	2,650
Peñasquito Stockpiles, Mexico (5)		100	%		7,800	0.34	%	60		27,900	0.32	%	200		35,700	0.33	%	260		73	%		39,600	0.33	%	290
TOTAL NEWMONT					115,000	0.37	%	940		247,000	0.30	%	1,640		362,000	0.32	%	2,580		73	%		387,800	0.34	%	2,940

(1)	See footnote (1) to the Gold Reserves table above. Lead reserves for 2021 and 2020 were estimated at a lead price of $0.90 per pound.
(2)	See footnote (2) to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.
(3)	See footnote (3) to the Copper Reserves table above. Pounds may not recalculate as they are rounded to the nearest 10 million.
(4)	Lead cut-off grade varies with level of gold, silver and zinc credits.
(5)	Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where tonnes exceed 10,000 and are greater than 5% of the total site-reported reserves.

Attributable Lead Resources (1)(2) - December 31, 2021
					Measured Resource					Indicated Resource					Measured and Indicated Resource				Inferred Resource
		Newmont			Tonnage	Grade		Lead		Tonnage	Grade		Lead		Tonnage	Grade		Lead	Tonnage	Grade		Lead
Deposits/Districts		Share			(000 tonnes)	(Pb %)		Pounds (millions)		(000 tonnes)	(Pb %)		Pounds (millions)		(000 tonnes)	(Pb %)		Pounds (millions)	(000 tonnes)	(Pb %)		Pounds (millions)		Metallurgical Recovery
North America
Peñasquito, Mexico		100	%		31,400	0.29	%	200		176,600	0.26	%	1,020		208,000	0.27	%	1,230	89,800	0.24	%	480		73	%
TOTAL NEWMONT					31,400	0.29	%	200		176,600	0.26	%	1,020		208,000	0.27	%	1,230	89,800	0.24	%	480		73	%

(1)	Resources are reported exclusive of reserves.
(2)	Resources for 2021 and 2020 were estimated at a lead price of $1.10 per pound. Tonnage amounts have been rounded to the nearest 100,000.

Attributable Molybdenum Reserves (1)
December 31, 2021																							December 31, 2020
					Proven Reserves					Probable Reserves					Proven and Probable Reserves								Proven and Probable Reserves
		Newmont			Tonnage (2)	Grade		Molybdenum (3)		Tonnage (2)	Grade		Molybdenum (3)		Tonnage (2)	Grade		Molybdenum (3)		Metallurgical			Tonnage (2)	Grade		Molybdenum (3)
Deposits/Districts		Share			(000 tonnes)	(Mo %)		Pounds (millions)		(000 tonnes)	(Mo %)		Pounds (millions)		(000 tonnes)	(Mo %)		Pounds (millions)		Recovery			(000 tonnes)	(Mo %)		Pounds (millions)
South America
NuevaUnión, Chile (4)		50.00	%		—	—	%	—		776,900	0.02	%	270		776,900	0.02	%	270		48	%		776,900	0.02	%	270
TOTAL NEWMONT					—	—	%	—		776,900	0.02	%	270		776,900	0.02	%	270		48	%		776,900	0.02	%	270

(1)		See footnote (1) to the Gold Reserves table above. Molybdenum reserves were estimated based on a molybdenum price set by NuevaUnión joint venture.
(2)		See footnote (2) to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.
(3)		See footnote (3) to the Copper Reserves table above. Pounds may not recalculate as they are rounded to the nearest 10 million.
(4)		Project is currently undeveloped. Resource estimates provided by NuevaUnión joint venture.

Attributable Molybdenum Resources (1)(2) - December 31, 2021
					Measured Resource					Indicated Resource				Measured and Indicated Resource				Inferred Resource
		Newmont			Tonnage	Grade		Molybdenum		Tonnage	Grade		Molybdenum	Tonnage	Grade		Molybdenum	Tonnage	Grade		Molybdenum
Deposits/Districts		Share			(000 tonnes)	(Mo %)		Pounds (millions)		(000 tonnes)	(Mo %)		Pounds (millions)	(000 tonnes)	(Mo %)		Pounds (millions)	(000 tonnes)	(Mo %)		Pounds (millions)		Metallurgical Recovery
South America
NuevaUnión, Chile (3)		50	%		159,500	0.01	%	20		231,500	0.01	%	40	391,000	0.01	%	60	362,300	0.01	%	100		52	%
Agua Rica, Argentina (4)		18.75	%		141,900	0.03	%	80		137,400	0.03	%	90	279,300	0.03	%	170	139,900	0.03	%	90		44	%
TOTAL NEWMONT					301,400	0.02	%	100		368,900	0.02	%	130	670,300	0.02	%	230	502,200	0.02	%	190		46	%

(1)		Resources are reported exclusive of reserves.
(2)		Resources for NuevaUnión and Agua Rica are estimated based on a molybdenum price set by NuevaUnión joint venture and Yamana, respectively. Tonnage amounts have been rounded to the nearest 100,000.
(3)		Project is currently undeveloped. Resource estimates provided by NuevaUnión joint venture.
(4)		Resource estimates provided by Yamana, the operator of the Agua Rica joint venture.

Cautionary Statement Regarding Reserve and Resource Estimates:

The reserves stated in this report represent estimates at December 31, 2021, 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 the prices of gold, silver, copper, zinc and lead and interpretations of geologic data obtained from drill holes and other exploration techniques, which data may not necessarily be indicative of future results. If our reserve estimations are required to be revised due to significantly lower gold, silver, zinc, copper and lead prices, increases in operating costs, reductions in metallurgical recovery or other modifying factors, this could result in material write-downs of our investment in mining properties, goodwill and increased amortization, reclamation and closure charges. Producers use feasibility studies for undeveloped ore bodies to derive estimates of capital and operating costs based upon anticipated tonnage and grades of ore to be mined and processed, the predicted configuration of the ore body, expected recovery rates of metals from the ore, the costs of comparable facilities, the costs of operating and processing equipment and other factors. Actual operating and capital cost and economic returns on projects may differ significantly from original estimates. Further, it may take many years from the initial phases of exploration until commencement of production, during which time, the economic feasibility of production may change. 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. In addition, if the price of gold, silver, copper, zinc or lead declines from recent levels, if production costs increase, grades decline, recovery rates decrease or if applicable laws and regulations are adversely changed, the indicated level of recovery may not be realized or mineral reserves or resources might not be mined or processed profitably. If we determine that certain of our mineral reserves have become uneconomic, this may ultimately lead to a reduction in our aggregate reported reserves and resources. Consequently, if our actual mineral reserves and resources are less than current estimates, our business, prospects, results of operations and financial position may be materially impaired. For additional information see the “Reserve and Resource Tables” section of this release and Item 2 of the Company’s Form 10-K, filed on February 24, 2022, with the SEC.

Cautionary Statement Regarding Forward Looking Statements:

This release may contain “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. Such forward-looking statements may include, without limitation, estimates and expectations of future production, reserve estimates, exploration outlook and expected expenditure, and operational and financial performance. Where the Company 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, assumptions and other factors, which could cause actual results to differ materially from future results expressed or implied by the “forward-looking statements”. Such assumptions, include, but are not limited to the key assumptions set forth above. Investors are also encouraged to refer to the Company’s 2021 Form 10-K, filed on February 24, 2022, with the SEC under the headings “Risk Factors” and “Forward-Looking Statements” for additional information, 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.

About Newmont

Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. 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. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220223006208/en/

Media Contact

Courtney Boone

303.837.5159

courtney.boone@newmont.com

Investor Contact

Daniel Horton

303.837.5468

daniel.horton@newmont.com

Source: Newmont Corporation

FAQ

What are Newmont's gold mineral reserves for 2021?

Newmont's gold mineral reserves for 2021 are 92.8 million ounces.

How much copper does Newmont have in reserves?

Newmont has 15.1 billion pounds of copper reserves.

What was the impact of Buenaventura's acquisition on Newmont's reserves?

The acquisition added 2.7 million ounces of gold reserves to Newmont.

What percentage of Newmont's gold reserves are in top-tier jurisdictions?

Over 90% of Newmont's gold reserves are in top-tier jurisdictions.

What is Newmont's projected exploration expenditure for 2022?

Newmont's projected exploration expenditure for 2022 is approximately $250 million.