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 (NYSE: NEM) announces that Lori Douglas, Head of Productivity for North America, has been honored as one of Paradigm for Parity's Women on the Rise for 2024. This recognition highlights Douglas's exceptional leadership and commitment to advancing women in the workplace. As executive sponsor of the Cripple Creek & Victor mine's Women and Allies Business Resource Group, she has led efforts to break down barriers for women in the mining industry.
Jennifer Cmil, Newmont's Chief People Officer, praised Douglas's role in championing IDE practices and driving cultural shifts to improve employee experience. The award celebrates women who are catalysts for change, embodying qualities such as courage, innovation, and dedication to fostering diversity and inclusion. Newmont, a founding member of the Paradigm for Parity coalition since 2016, continues its commitment to closing the gender gap and creating an inclusive work environment.
Newmont (NYSE: NEM) announces the expansion of next-generation 5G wireless networks in underground mining following successful trials at its Cadia mine in New South Wales, Australia. The trial, conducted in partnership with Ericsson and Telstra Purple, demonstrated significant improvements in network performance and reliability compared to existing wi-fi systems.
Key results include:
- Upload speeds increased from 20-30 Mbps to 90 Mbps in access drives and declines
- 150 Mbps upload and 500 Mbps download achieved in extraction drives
- Persistent and dependable connections, resolving historic wi-fi limitations
Newmont plans to leverage 5G technology to deploy more autonomous fleet equipment and enhance safety systems across its global network of Tier 1 underground gold-copper mines.
Newmont (NYSE: NEM) reported its Q2 2024 results, announcing 2.1 million gold equivalent ounces produced and $594 million in free cash flow. The company declared a $0.25/share dividend, repurchased $250 million in shares, and reduced debt by $250 million. Key achievements include $1.4 billion in cash from operations, $857 million in net income, and $2.0 billion in adjusted EBITDA. Newmont achieved $100 million in synergies from the Newcrest acquisition and expects $500 million annually by 2025. Q2 returns to shareholders totaled $539 million.
Newmont (NYSE: NEM) will release its Q2 2024 financial and operational results after market close on July 24, 2024. The company has scheduled a conference call to discuss these results on July 25, 2024 at 11:00 a.m. EDT. Interested parties can join the call using the provided dial-in numbers and access code. A replay of the call will be available on Newmont's website for a time, along with the webcast materials. The conference call aims to provide insights into the company's financial performance and strategic developments, potentially impacting investor decisions.
Newmont (NYSE: NEM) has appointed Harry M. (Red) Conger to its Board of Directors. Conger, who brings over 46 years of mining and leadership experience, will also serve on the Safety and Sustainability Committee. He previously held prominent roles at Teck Resources, Freeport-McMoRan, and Phelps Dodge His vast experience includes improving operational efficiencies and maintaining stable production through challenging cycles. Conger has also been an active figure in the mining community, holding leadership positions in various industry organizations and receiving numerous accolades for his contributions to the sector.
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