Welcome to our dedicated page for Newmont Corporation news (Ticker: NEM), a resource for investors and traders seeking the latest updates and insights on Newmont Corporation stock.
Newmont Corporation (symbol: NEM) is the world's leading gold company and a major producer of copper, silver, zinc, and lead. Newmont's impressive portfolio of assets is anchored across favorable mining jurisdictions in North America, South America, Australia, and Africa. As the only gold producer listed in the S&P 500 index, Newmont is widely recognized for its principled environmental, social, and governance practices. Founded in 1921 and publicly traded since 1925, Newmont has cemented its industry leadership through robust safety standards, superior execution, and technical proficiency.
Newmont's strategic acquisitions have significantly bolstered its position as the top gold miner globally. In 2019, Newmont purchased Goldcorp, and later that year, formed a joint venture with Barrick Gold to combine their Nevada mines. Most recently, in November 2023, Newmont acquired Newcrest Mining. These strategic moves have expanded Newmont's portfolio to include 17 wholly or majority-owned mines and interests in two joint ventures across the Americas, Africa, Australia, and Papua New Guinea.
Newmont is expected to produce approximately 6.9 million ounces of gold in 2024. Following the acquisition of Newcrest, Newmont plans to streamline its portfolio by selling higher-cost, smaller mines, which are forecasted to account for 20% of its sales in 2024. Alongside gold, Newmont also produces significant quantities of copper, silver, zinc, and lead as byproducts.
Newmont's commitment to value creation is evident in its long-term gold reserves, which are projected to last for about two decades as of December 2023. The company continually invests in innovative practices and sustainable developments, ensuring its operations support both economic growth and environmental care.
Newmont has launched the first autonomous haulage system fleet in the gold industry at its Boddington mine in Western Australia. The transition involves 36 autonomous trucks, backed by a $150 million investment. This innovation aims to enhance safety and operational efficiency.
However, the project has impacted short-term gold production, with an expected output of 140,000 ounces below previous estimates for 2021 due to operational challenges faced during commissioning.
Newmont Corporation (NYSE: NEM) will announce its third quarter 2021 financial results before the market opens on October 28, 2021. A conference call is scheduled for 10 a.m. Eastern Time the same day, accessible via the company's website. Newmont is recognized as the world's leading gold company, with operations across favorable mining jurisdictions in North America, South America, Australia, and Africa. Additionally, they are the only gold producer in the S&P 500 Index.
Newmont Corporation (NYSE: NEM) reported solid second quarter 2021 results, producing 1.4 million attributable ounces of gold and generating $993 million in cash from continuing operations. The Company declared a dividend of $0.55 per share and completed $149 million in share repurchases. Newmont reduced its debt by $550 million and ended the quarter with $4.6 billion in consolidated cash. The acquisition of GT Gold and funding for Ahafo North are expected to enhance growth and returns. The adjusted EBITDA for the quarter stood at $1.6 billion, underscoring a disciplined capital allocation strategy.
Newmont Corporation (NYSE: NEM) has declared a quarterly dividend of $0.55 per share, set to be paid on September 23, 2021 to shareholders on record by September 9, 2021. Future dividend payments will depend on the Company's financial performance, cash flow, and other key factors as determined by the Board of Directors. Newmont is a leading global gold producer, recognized for its strong environmental, social, and governance practices. However, future dividends are not guaranteed and can be revised or suspended at any time.
Newmont Corporation (NYSE: NEM) has approved the advancement of the Ahafo North Project into the execution phase. This development aims to enhance gold production from a top unmined deposit in West Africa, adding over three million ounces over a 13-year period. Project costs are estimated between $750-$850 million, with production costs at $600-$700 per ounce. The project is projected to create around 1,800 construction jobs and 550 permanent positions, focusing on local hiring and gender parity. Stakeholder support and necessary permits are secured for the project.
Newmont Corporation (NYSE: NEM) will report its second quarter 2021 financial results on July 22, 2021, before the market opens. A conference call will take place at 10 a.m. ET to discuss these results. Investors can access the earnings call via the webcast and find the report on the Company’s website under the “Investor Relations” section. Newmont is recognized as the leading gold producer globally and emphasizes strong ESG practices.
Newmont Corporation (NYSE: NEM) has launched its inaugural Climate Strategy Report in alignment with the Task Force on Climate-related Financial Disclosures. The report outlines the company's climate-related risks, strategic planning, and pathways toward achieving its 2030 greenhouse gas emission targets, including 32% reduction in Scope 1 and 2 emissions. Newmont is one of the few gold mining companies with climate targets approved by the Science Based Target initiative (SBTi). The company has also committed $500 million to its Carbon Reduction Fund to support these initiatives.
Newmont Corporation (NYSE:NEM) has completed its acquisition of GT Gold Corp. (TSX-V:GTT), securing the remaining 85.1% of common shares. This acquisition includes the Tatogga project, primarily the Saddle North deposit, which holds significant potential for future gold and copper production. Newmont's CEO, Tom Palmer, emphasized the importance of collaborating with the Tahltan Nation and the Government of British Columbia for project advancement. The deal enhances Newmont's portfolio in the Golden Triangle of British Columbia, which also includes its 50% stake in the Galore Creek project.
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