NEWMONT Corp DE

For the period ended Dec 31, 2023. Filed Feb 29, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 29, 2024

NEM$120.91+1.0%Stored close · as of Nov 6, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Operating Statistics

Operating Statistics, Proven and Probable Reserves and Measured, Indicated and Inferred Resources presented below contain tabular information that is presented in both metric and imperial as follows: (i) metric tonnage is utilized for all metals; (ii) gold and silver grades are presented in grams per tonne; (iii) copper, lead, zinc, molybdenum, and tungsten grades are presented in percentages; and (iv) metal content for gold and silver is presented in ounces while metal content for copper, lead, zinc, molybdenum, and tungsten is presented in pounds.

The following tables detail operating statistics related to gold production, ounces sold, and production costs per ounce of our continuing operations:

	Mining and Production Detail (1)
Year EndedDecember 31, 2023 · Tonnes Mined · Tonnes Processed · Average Ore Grade (2) · Average Mill Recovery Rate · Ounces Produced · Ounces Sold
Open Pit · Underground · Mill · Leach · Mill · Leach · Mill · Leach · Consolidated · Attributable (3) · Consolidated
CC&V	38,555	—	—	25,566	—	0.452	—%	—	172	172	172	171
Musselwhite	—	1,027	1,028	—	5.701	—	95.7%	180	—	180	180	181
Porcupine	6,972	859	2,911	—	3.015	—	91.4%	260	—	260	260	258
Éléonore	—	1,656	1,661	—	4.785	—	91.0%	232	—	232	232	233
Red Chris (4)	3,769	—	1,139	—	0.276	—	54.2%	5	—	5	5	4
Brucejack (4)	—	167	166	—	5.685	—	96.0%	29	—	29	29	36
Peñasquito	96,099	—	20,850	—	0.429	—	57.0%	143	—	143	143	130
Merian	41,031	—	14,403	—	0.758	—	91.3%	322	—	322	242	319
Cerro Negro	—	1,076	1,084	—	8.314	—	92.8%	269	—	269	269	261
Yanacocha	62,173	—	—	19,682	—	0.494	—%	—	276	276	276	275
Boddington	61,543	—	36,467	—	0.754	—	85.4%	745	—	745	745	749
Tanami	—	2,314	2,369	—	6.012	—	98.3%	448	—	448	448	444
Cadia (4)	—	4,366	5,229	—	0.722	—	81.5%	97	—	97	97	120
Telfer (4)	6,435	206	2,807	—	0.649	—	73.2%	43	—	43	43	67
Lihir (4)	6,395	—	2,061	—	2.567	—	76.5%	134	—	134	134	131
Ahafo	26,851	2,344	7,976	—	2.399	—	93.9%	581	—	581	581	578
Akyem	24,494	—	7,646	—	1.317	—	89.5%	295	—	295	295	296
NGM	100,728	2,490	11,426	10,853	3.487	0.398	82.5%	1,057	113	1,170	1,170	1,167
Total Gold	475,045	16,505	119,223	56,101	1.463	0.456	86.7%	4,840	561	5,401	5,321	5,420

(3)Attributable ounces produced for Merian reflects our 75% ownership interest.

	Production Costs per Ounce Sold (1)(5)
Year EndedDecember 31, 2023	Direct Mining and Production Costs	By-Product Credits	Royalties and Production Taxes	Write-Downs and Inventory Change	Costs Applicable to Sales (2)(3)	Depreciation and Amortization	Reclamation and Remediation	Total Production Costs (4)	All-In Sustaining Costs per Ounce Sold (3)
CC&V	$1,327	$(7)	$121	$(285)	$1,156	$136	$59	$1,351	$1,644
Musselwhite	$1,152	$(2)	$48	$(12)	$1,186	$444	$17	$1,647	$1,843
Porcupine	$1,214	$(4)	$25	$(68)	$1,167	$455	$33	$1,655	$1,577
Éléonore	$1,230	$(2)	$44	$(9)	$1,263	$433	$13	$1,709	$1,838
Red Chris (6)	$1,825	$(1)	$27	$(946)	$905	$298	$15	$1,218	$1,439
Brucejack (6)	$1,484	$(41)	$30	$425	$1,898	$617	$—	$2,515	$2,646
Peñasquito	$1,296	$(6)	$33	$(104)	$1,219	$516	$28	$1,763	$1,590
Merian	$1,080	$(1)	$117	$11	$1,207	$256	$9	$1,472	$1,541
Cerro Negro	$1,261	$(102)	$93	$5	$1,257	$524	$14	$1,795	$1,509
Yanacocha	$1,122	$(16)	$59	$(96)	$1,069	$310	$20	$1,399	$1,266
Boddington	$822	$(17)	$49	$(7)	$847	$144	$12	$1,003	$1,067
Tanami	$704	$(2)	$51	$6	$759	$249	$4	$1,012	$1,060
Cadia (6)	$477	$(59)	$51	$610	$1,079	$130	$1	$1,210	$1,271
Telfer (6)	$1,360	$(9)	$60	$471	$1,882	$87	$—	$1,969	$1,988
Lihir (6)	$1,235	$(2)	$50	$(166)	$1,117	$153	$—	$1,270	$1,517
Ahafo	$820	$(1)	$141	$(13)	$947	$312	$11	$1,270	$1,222
Akyem	$826	$(6)	$115	$(4)	$931	$413	$40	$1,384	$1,210
NGM	$1,037	$(55)	$68	$20	$1,070	$387	$9	$1,466	$1,397
Total Gold	$999	$(23)	$74	$—	$1,050	$327	$15	$1,392	$1,444

(1)Production costs and All-in sustaining costs are not comparable due to differences in the items included in each of the measures. All-in sustaining costs is a non-GAAP financial measure. Refer to Non-GAAP Financial Measures within Part II, Item 7, MD&A.

(6)Sites acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information.

	Mining and Production Detail (1)
Year EndedDecember 31, 2022 · Tonnes Mined · Tonnes Processed · Average Ore Grade (2) · Average Mill Recovery Rate · Ounces Produced · Ounces Sold
Open Pit · Underground · Mill · Leach · Mill · Leach · Mill · Leach · Consolidated · Attributable (3) · Consolidated
CC&V	32,632	—	64	18,814	1.568	0.428	38.2%	4	178	182	182	185
Musselwhite	—	1,043	1,042	—	5.404	—	95.7%	173	—	173	173	172
Porcupine	7,866	751	3,410	—	2.794	—	92.7%	280	—	280	280	280
Éléonore	—	1,537	1,535	—	4.740	—	91.6%	215	—	215	215	217
Peñasquito	178,890	—	35,928	—	0.702	—	75.2%	566	—	566	566	573
Merian	36,381	—	14,201	—	0.942	—	94.2%	403	—	403	302	403
Cerro Negro	—	946	930	—	9.840	—	93.6%	278	—	278	278	281
Yanacocha	60,939	—	—	20,600	—	0.453	—%	—	244	244	230	250
Boddington	59,270	—	37,240	—	0.801	—	84.7%	798	—	798	798	813
Tanami	—	2,643	2,590	—	5.941	—	98.0%	484	—	484	484	486
Ahafo	30,147	1,708	10,789	—	1.765	—	92.5%	574	—	574	574	572
Akyem	29,077	—	8,195	—	1.750	—	89.5%	420	—	420	420	415
NGM	103,158	2,521	13,655	8,178	3.205	0.467	74.9%	1,051	118	1,169	1,169	1,165
Total Gold	538,360	11,149	129,579	47,592	1.487	0.446	85.5%	5,246	540	5,786	5,671	5,812

(3)Attributable ounces produced for Merian reflects our 75% ownership interest. The Company recognized amounts attributable to noncontrolling interest for Yanacocha for attributable ounces produced during the periods prior to acquiring Buenaventura's 43.65% interest and Sumitomo Corporation's 5% interest in the first half of 2022. Refer to Note 1 to the Consolidated Financial Statement for further information.

	Production Costs per Ounce Sold (1)(5)
Year EndedDecember 31, 2022	Direct Mining and Production Costs	By-Product Credits	Royalties and Production Taxes	Write-Downs and Inventory Change	Costs Applicable to Sales (2)(3)	Depreciation and Amortization	Reclamation and Remediation	Total Production Costs (4)	All-In Sustaining Costs per Ounce Sold (3)
CC&V	$1,141	$(9)	$80	$90	$1,302	$386	$28	$1,716	$1,697
Musselwhite	$1,109	$(3)	$35	$(6)	$1,135	$464	$13	$1,612	$1,531
Porcupine	$1,012	$(4)	$31	$(35)	$1,004	$369	$8	$1,381	$1,248
Éléonore	$1,183	$(1)	$40	$6	$1,228	$531	$7	$1,766	$1,599
Peñasquito	$728	$(5)	$31	$17	$771	$258	$8	$1,037	$968
Merian	$815	$(1)	$108	$(7)	$915	$199	$5	$1,119	$1,105
Cerro Negro	$1,031	$(106)	$84	$(2)	$1,007	$525	$9	$1,541	$1,262
Yanacocha	$1,170	$(12)	$56	$40	$1,254	$380	$24	$1,658	$1,477
Boddington	$757	$(12)	$46	$11	$802	$145	$10	$957	$921
Tanami	$647	$(2)	$45	$(15)	$675	$207	$3	$885	$960
Ahafo	$809	$(1)	$114	$68	$990	$292	$7	$1,289	$1,178
Akyem	$621	$(3)	$136	$50	$804	$340	$14	$1,158	$972
NGM	$1,002	$(49)	$54	$(18)	$989	$404	$8	$1,401	$1,220
Total Gold	$875	$(19)	$66	$11	$933	$322	$10	$1,265	$1,211

(1)Production Costs and All-in sustaining costs are not comparable due to differences in the items included in each of the measures. All-in sustaining costs is a non-GAAP financial measure. Refer to Non-GAAP Financial Measures within Part II, Item 7, MD&A.

	Mining and Production Detail (1)
Year EndedDecember 31, 2021 · Tonnes Mined · Tonnes Processed · Average Ore Grade (2) · Average Mill Recovery Rate · Ounces Produced · Ounces Sold
Open Pit · Underground · Mill · Leach · Mill · Leach · Mill · Leach · Consolidated · Attributable (3) · Consolidated
CC&V	33,889	—	1,436	17,607	1.638	0.455	40.1%		30		190		220		220		220
Musselwhite	—	934	923	—	5.337	—		96.1%		152		—		152		152		154
Porcupine	7,882	883	3,356	—	2.856	—		92.7%		287		—		287		287		287
Éléonore	—	1,581	1,588	—	5.306	—		91.3%		253		—		253		253		247
Peñasquito	176,622	—	35,730	—	0.798	—		81.4%		686		—		686		686		720
Merian	44,250	—	15,256	—	0.936	—		94.0%		437		—		437		328		434
Cerro Negro	—	885	890	—	10.152	—		93.2%		270		—		270		270		267
Yanacocha	57,432	—	291	17,318	1.246	0.603	57.9%		8		256		264		135		263
Boddington	66,308	—	40,058	—	0.651	—		84.5%		696		—		696		696		685
Tanami	—	2,615	2,650	—	5.827	—		97.8%		485		—		485		485		488
Ahafo	33,732	1,533	10,119	—	1.601	—		90.9%		481		—		481		481		480
Akyem	26,197	—	7,959	—	1.687	—		89.4%		381		—		381		381		378
NGM	121,067	2,448	13,690	17,121	3.272	0.578		75.0%		1,083		189		1,272		1,272		1,274
Total Gold	567,379	10,879	133,946	52,046	1.444	0.545	85.3%		5,249		635		5,884		5,646		5,897

(3)Attributable ounces produced for Merian and Yanacocha reflects our 75% and 51.35% ownership interest, respectively.

	Production Costs per Ounce Sold (1)(5)
Year EndedDecember 31, 2021	Direct Mining and Production Costs	By-Product Credits	Royalties and Production Taxes	Write-Downs and Inventory Change	Costs Applicable to Sales (2)(3)	Depreciation and Amortization	Reclamation and Remediation	Total Production Costs (4)	All-In Sustaining Costs per Ounce Sold (3)
CC&V	$1,029	$(11)	$62	$—	$1,080	$298	$18	$1,396	$1,338
Musselwhite	$976	$(3)	$33	$12	$1,018	$520	$9	$1,547	$1,335
Porcupine	$983	$(5)	$26	$(64)	$940	$319	$9	$1,268	$1,152
Éléonore	$929	$(1)	$41	$(9)	$960	$562	$4	$1,526	$1,256
Peñasquito	$507	$(4)	$34	$12	$549	$279	$5	$833	$702
Merian	$645	$(1)	$108	$(1)	$751	$225	$4	$980	$895
Cerro Negro	$949	$(103)	$82	$(16)	$912	$513	$10	$1,435	$1,247
Yanacocha	$1,054	$(222)	$61	$(8)	$885	$421	$107	$1,413	$1,355
Boddington	$866	$(16)	$46	$(9)	$887	$145	$11	$1,043	$1,083
Tanami	$516	$(2)	$46	$10	$570	$205	$3	$778	$855
Ahafo	$766	$(1)	$107	$12	$884	$298	$8	$1,190	$1,084
Akyem	$575	$(5)	$133	$(12)	$691	$318	$14	$1,023	$913
NGM	$819	$(62)	$47	$(49)	$755	$432	$6	$1,193	$918
Total Gold	$769	$(32)	$61	$(13)	$785	$336	$12	$1,133	$1,062

The following tables detail operating statistics related to co-product metal production and sales:

Year Ended December 31, 2023	Tonnes Milled(000 tonnes)	Average Milled Grade (1)	Average Mill Recovery Rate	Consolidated Ounces/Pounds Produced (millions)	Consolidated Ounces/Pounds Sold (millions)
Copper (pounds)
Red Chris (4)	1,139	0.40%	81.2%	8	7
Boddington	36,467	0.16%	84.2%	98	98
Cadia (4)	5,229	0.38%	85.3%	36	45
Telfer (4)	2,807	0.08%	59.3%	3	5
Total Copper	45,642	0.18%	83.6%	145	155
Silver (ounces) (3)	20,850	36.65	79.1%	18	17
Lead (pounds) (3)	20,850	0.37%	69.3%	113	107
Zinc (pounds) (3)	20,850	0.78%	78.5%	230	222

Year Ended December 31, 2022	Tonnes Milled(000 tonnes)	Average Milled Grade (1)	Average Mill Recovery Rate	Consolidated Ounces/Pounds Produced (millions)	Consolidated Ounces/Pounds Sold (millions)
Copper (pounds) (2)	37,240	0.14%	81.5%	84	85
Silver (ounces) (3)	35,928	32.27	86.8%	30	30
Lead (pounds) (3)	35,928	0.27%	74.7%	149	147
Zinc (pounds) (3)	35,928	0.70%	81.3%	377	373

Year Ended December 31, 2021	Tonnes Milled(000 tonnes)	Average Milled Grade (1)	Average Mill Recovery Rate	Consolidated Ounces/Pounds Produced (millions)	Consolidated Ounces/Pounds Sold (millions)
Copper (pounds) (2)	40,058	0.11%	80.7%	71	69
Silver (ounces) (3)	35,730	32.42	91.9%	31	32
Lead (pounds) (3)	35,730	0.29%	82.3%	177	173
Zinc (pounds) (3)	35,730	0.77%	84.0%	435	433

(1)Average milled grade reported in tonnes/tonne for copper, lead, and zinc, and grams/tonne for silver.

(2)For the years ended December 31, 2022 and 2021, all of our copper co-product production came from Boddington.

(3)For the years ended December 31, 2023, 2022 and 2021, all of our silver, lead and zinc co-product production came from Peñasquito.

The following tables detail operating statistics related to co-product metal production costs per gold equivalent ounce (“GEO”) sold. Gold equivalent ounces are calculated as pounds or ounces produced multiplied by the ratio of the other metals’ price to the gold price, using the metal prices in the table below:

	Gold	Copper	Silver	Lead	Zinc
	(ounce)	(pound)	(ounce)	(pound)	(pound)
2023 GEO Price	$1,400	$3.50	$20.00	$1.00	$1.20
2022 GEO Price	$1,200	$3.25	$23.00	$0.95	$1.15
2021 GEO Price	$1,200	$2.75	$22.00	$0.90	$1.05

Year Ended December 31, 2023	Red Chris (4)	Peñasquito	Boddington	Cadia (4)	Telfer (4)	Total / Weighted-Average
Consolidated GEO sold (thousands)	16	507	246	114	13	896
Production costs per GEO sold: (1)
Costs applicable to sales (2)	$1,020	$1,283	$830	$1,017	$1,703	$1,127
Depreciation and amortization	181	561	144	127	109	378
Reclamation and remediation	—	28	12	—	6	19
Total production costs per GEO sold (3)	$1,201	$1,872	$986	$1,144	$1,818	$1,524
All-in sustaining costs per GEO sold (2)	$1,660	$1,756	$1,067	$1,342	$2,580	$1,579

Year Ended December 31, 2022	Peñasquito	Boddington	Total / Weighted-Average
Consolidated GEO sold (thousands)	1,044	231	1,275
Production costs per GEO sold: (1)
Costs applicable to sales (2)	$828	$782	$819
Depreciation and amortization	267	145	245
Reclamation and remediation	8	9	9
Total production costs per GEO sold (3)	$1,103	$936	$1,073
All-in sustaining costs per GEO sold (2)	$1,112	$894	$1,114

Year Ended Year ended December 31, 2021	Peñasquito	Boddington	Total / Weighted-Average
Consolidated GEO sold (thousands)	1,100	158	1,258
Production costs per GEO sold: (1)
Costs applicable to sales (2)	$603	$902	$640
Depreciation and amortization	291	147	273
Reclamation and remediation	5	11	6
Total production costs per GEO sold (3)	$899	$1,060	$919
All-in sustaining costs per GEO sold (2)	$824	$1,098	$900

(2)Costs applicable to sales per GEO and All-in sustaining costs per GEO are non-GAAP financial measures. Refer to Non-GAAP Financial Measures within Part II, Item 7, MD&A.

(3)May not recalculate due to rounding.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.