NEWMONT Corp DE
For the period ended Sep 30, 2024. Filed Oct 24, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 24, 2024
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Safe Harbor Statement
Certain statements contained in this report (including information incorporated by reference herein) are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and are intended to be covered by the safe harbor provided for under these sections. Words such as “expect(s),” “feel(s),” “believe(s),” “will,” “may,” “anticipate(s),” “estimate(s),” “should,” “intend(s),” "target(s)," "plan(s)," "potential," and similar expressions are intended to identify forward-looking statements. Our forward-looking statements may include, without limitation:
estimates regarding future earnings and the sensitivity of earnings to gold, copper, silver, lead, zinc, and other metal prices;
estimates of future mineral production and sales;
estimates of future production costs, other expenses and taxes for specific operations and on a consolidated basis, including estimates of future costs applicable to sales and all-in sustaining costs;
estimates of future cash flows and the sensitivity of cash flows to gold, copper, silver, lead, zinc, and other metal prices;
estimates of future capital expenditures, including development and sustaining capital, as well as construction or closure activities and other cash needs, for specific operations and on a consolidated basis, and expectations as to the funding or timing thereof;
estimates as to the projected development of certain ore deposits or projects, such as the Tanami Expansion 2, Ahafo North, Yanacocha Sulfides, Pamour, Cerro Negro District Expansion 1, Cadia Block Cave, Red Chris Block Cave and Wafi-Golpu, including without limitation expectations for the production, milling, costs applicable to sales, all-in sustaining costs, mine-life extension, the costs of such development and other capital costs, financing plans for these deposits and expected production commencement dates, construction completion dates and other timelines;
estimates of reserves and resources statements regarding future exploration results and reserve and resource replacement and the sensitivity of reserves to metal price changes;
statements regarding the availability of, and terms and costs related to, future borrowing or financing and expectations regarding future share repurchase transactions, and debt repurchases, repayments or tender transactions;
statements regarding future cash flows and returns to shareholders, including with respect to future dividends, the dividend framework and expected payout levels;
estimates regarding future exploration expenditures and discoveries;
statements regarding fluctuations in financial and currency markets;
estimates regarding potential cost savings, productivity, operating performance and ownership and cost structures;
expectations regarding statements regarding future or recently completed transactions, including, without limitation, statements related to future acquisitions and projected benefits, synergies and costs associated with acquisitions and related matters, and expectations from the integration of Newcrest;
expectations regarding potential divestments, including, without limitation, assets held for sale;
expectations and statements regarding the pending divestments of Telfer and Havieron and Akyem, including, without limitation, expectations regarding closing, related approvals, satisfaction of conditions precedent, receipt of consideration and contingent consideration;
estimates of future cost reductions, synergies, including pre-tax synergies, savings and efficiencies, and future cash flow enhancements through portfolio optimization;
expectations of future equity and enterprise value;
expectations regarding the start-up time, design, mine life, production and costs applicable to sales and exploration potential of our projects;
statements regarding future hedge and derivative positions or modifications thereto;
statements regarding local, community, political, economic or governmental conditions and environments;
statements and expectations regarding the impacts of health and safety conditions;
statements regarding the impacts of changes in the legal and regulatory environment in which we operate, including, without limitation, relating to regional, national, domestic and foreign laws;
statements regarding expected changes in the tax regimes in which we operate, including, without limitation, estimates of future tax rates and estimates of the impacts to income tax expense, valuation of deferred tax assets and liabilities, and other financial impacts;
estimates of income taxes and expectations relating to tax contingencies or tax audits;
estimates of future costs, accruals for reclamation costs and other liabilities for certain environmental matters, including without limitation, in connection with water treatment, such as the Yanacocha water treatment plants, and tailings management;
statements relating to potential impairments, revisions or write-offs, including without limitation, the result of fluctuation in metal prices, unexpected production or capital costs, or unrealized reserve potential;
estimates of pension and other post-retirement costs;
statements regarding estimates of timing of adoption of recent accounting pronouncements and expectations regarding future impacts to the financial statements resulting from accounting pronouncements; and
estimates of future cost reductions, synergies, savings and efficiencies in connection with Full Potential programs and initiatives.
Where we express 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, our forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by those forward-looking statements. Such risks include, but are not limited to:
there being no significant change to current geotechnical, metallurgical, hydrological and other physical conditions;
the price of gold, copper, silver, lead, zinc and other metal prices and commodities;
the cost of operations and prices for key supplies;
currency fluctuations, including exchange rate assumptions;
other macroeconomic events impacting inflation, interest rates, supply chain, and capital markets;
operating performance of equipment, processes and facilities;
environmental impacts and geotechnical challenges including in connection with climate-related and other catastrophic events;
labor relations;
healthy and safety impacts including in connection with global events, pandemics, and epidemics;
timing of receipt of necessary governmental permits or approvals;
domestic and foreign laws or regulations, particularly relating to the environment, mining and processing;
changes in tax laws;
political developments in any jurisdiction in which Newmont operates being consistent with its current expectations;
our ability to obtain or maintain necessary financing; and
other risks and hazards associated with mining operations.
More detailed information regarding these factors is included in the section titled Item 1, Business; Item 1A, Risk Factors in the Annual Report on Form 10-K for the year ended December 31, 2023, as well as elsewhere throughout this report. Many of these factors are beyond our ability to control or predict. Given these uncertainties, readers are cautioned not to place undue reliance on our forward-looking statements.
All subsequent written and oral forward-looking statements attributable to Newmont or to persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. We disclaim any intention or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.