NEWMONT Corp DE
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
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FY2024 · Filed Feb 21, 2025
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Proven and Probable Reserves
All of our reserves are located on land (i) we own or control, or (ii) that is owned or controlled by business entities established with our joint venture partners, in which the Company owns its pro-rata share of the capital stock, membership units, or interests. The risks that could affect title to our property are included above in Item 1A, Risk Factors.
A “mineral reserve” is an estimate of tonnage and grade or quality of indicated and measured mineral resources that, in the opinion of the qualified person, can be the basis of an economically viable project. More specifically, it is the economically mineable part of a measured or indicated mineral resource, which includes diluting materials and allowances for losses that may occur when the material is mined or extracted. The term “economically viable,” as used in the definition of reserve, means that the qualified person has analytically determined that extraction of the mineral reserve is economically viable under reasonable investment and market assumptions.
The term “proven reserves” means the economically mineable part of a measured mineral resource and can only result from conversion of a measured mineral resource. The term “probable reserves” means reserves for which quantity and grade are computed from information similar to that used for proven reserves, but the sites for sampling are farther apart or are otherwise less closely spaced. The degree of assurance, although lower than that for proven reserves, is high enough to assume continuity between points of observation. Proven and probable reserves include gold, copper, silver, lead, zinc or molybdenum attributable to Newmont’s ownership or economic interest.
Proven and probable reserves are based on extensive drilling, sampling, mine modeling and metallurgical testing from which we determined economic feasibility. The reference point for mineral reserves is the point of delivery to the process plant. Metal price assumptions, adjusted for our exchange rate assumption, are based on considering such factors as market forecasts, industry consensus and management estimates. 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 below list the average metallurgical recovery rate for each deposit, which takes into account the relevant processing methods. The cut-off grade, or lowest grade of mineralization considered economic to process, varies between deposits depending upon prevailing economic conditions, mineability of the deposit, by-products, amenability of the ore to gold, copper, silver, lead, zinc or molybdenum extraction and type of milling or leaching facilities available. Reserve estimates may have non-material differences in comparison to our joint venture partners due to differences in classification and rounding methodology.
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, copper, silver, lead, zinc and molybdenum will be realized. Ounces of gold or silver or pounds of copper, lead, zinc 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, copper, silver, lead, zinc and molybdenum, as well as increased production costs or reduced metallurgical recovery rates, could render certain proven and probable reserves containing higher cost reserves uneconomic to exploit and might result in a reduction of reserves.
We had attributable proven and probable gold reserves of 134.1 million ounces at December 31, 2024. For 2024 and 2023, reserves were estimated at a gold price assumption of $1,700 and $1,400 per ounce, respectively, except as noted below. The increase in the reserves gold price assumption is based on the Company's assessment of multiple factors, including historical gold pricing trends, consensus price forecasts, and impacts of inflation. We estimate that our 2024 reserves would increase by 6% (7.4 million ounces), or decline by 6% (7.6 million ounces), if the gold price assumption increased or decreased $100 per ounce, respectively, with all other assumptions remaining constant.
We publish reserves annually, and will recalculate reserves at December 31, 2025, 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 2025.
The Company has internal controls for reviewing and documenting the information supporting the mineral reserve and mineral resource estimates, describing the methods used, and ensuring the validity of the estimates. Information that is utilized to compile mineral reserves and resources is prepared and certified by appropriately qualified persons at the mine site level and is subject to our internal review process which includes review by the Newmont-designated site and the Qualified Person (“QP”) based in our corporate office in Denver, Colorado. Additionally, all material sites are audited every three years and the non-material sites on a four-year cycle by subject matter experts for compliance to internal standards and guidelines as well as regulatory requirements. The QP presents the mineral reserve and mineral resource information to the Audit Committee and the Disclosure Committee on an annual basis for further review.
The following tables detail gold proven and probable reserves reflecting only those reserves attributable to Newmont’s ownership or economic interest at December 31, 2024 and 2023.
| Gold Reserves at December 31, 2024 (1) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Proven Reserves · Probable Reserves · Proven and Probable Reserves · MetallurgicalRecovery (3) | |||||||||||
| Deposits/Districts · NewmontShare · Tonnage (2)(000 tonnes) · Grade(g/tonne) · Ounces (3)(000) · Tonnage (2)(000 tonnes) · Grade(g/tonne) · Ounces (3)(000) · Tonnage (2)(000 tonnes) · Grade(g/tonne) · Ounces (3)(000) | |||||||||||
| Brucejack, Canada | 100% | — | — | — | 8,600 | 6.95 | 1,900 | 8,600 | 6.95 | 1,900 | 96% |
| Red Chris Open Pit | 70% | — | — | — | 14,700 | 0.39 | 100 | 14,700 | 0.39 | 100 | 52% |
| Red Chris Underground (4) | 70% | — | — | — | 171,700 | 0.64 | 3,500 | 171,700 | 0.64 | 3,500 | 70% |
| Total Red Chris, Canada | 70% | — | — | — | 186,400 | 0.62 | 3,700 | 186,400 | 0.62 | 3,700 | 69% |
| Peñasquito Open Pits | 100% | 93,900 | 0.58 | 1,700 | 130,800 | 0.48 | 2,000 | 224,700 | 0.52 | 3,800 | 62% |
| Peñasquito Stockpiles (5) | 100% | 4,700 | 0.60 | 100 | 27,300 | 0.21 | 200 | 32,000 | 0.26 | 300 | 37% |
| Total Peñasquito, Mexico (6) | 100% | 98,600 | 0.58 | 1,800 | 158,100 | 0.44 | 2,200 | 256,600 | 0.49 | 4,100 | 60% |
| Merian, Suriname | 75% | 23,400 | 1.26 | 900 | 87,300 | 1.14 | 3,200 | 110,700 | 1.16 | 4,100 | 93% |
| Cerro Negro, Argentina | 100% | 2,200 | 11.84 | 800 | 7,100 | 10.50 | 2,400 | 9,300 | 10.82 | 3,200 | 94% |
| Yanacocha Open Pit | 100% | 17,700 | 0.90 | 500 | 96,300 | 0.78 | 2,500 | 114,100 | 0.80 | 2,900 | 55% |
| Yanacocha Underground | 100% | — | — | — | 12,300 | 6.06 | 2,400 | 12,300 | 6.06 | 2,400 | 97% |
| Total Yanacocha, Peru (7) | 100% | 17,800 | 0.90 | 500 | 108,600 | 1.38 | 4,800 | 126,400 | 1.31 | 5,300 | 74% |
| Pueblo Viejo Open Pit | 40% | 32,200 | 2.27 | 2,300 | 49,500 | 2.04 | 3,300 | 81,700 | 2.13 | 5,600 | 88% |
| Pueblo Viejo Stockpiles (5) | 40% | — | — | — | 38,800 | 2.07 | 2,600 | 38,800 | 2.07 | 2,600 | 83% |
| Total Pueblo Viejo, Dominican Republic (8)(19) | 40% | 32,200 | 2.27 | 2,300 | 88,300 | 2.06 | 5,800 | 120,500 | 2.11 | 8,200 | 86% |
| NuevaUnión, Chile (9)(19) | 50% | — | — | — | 341,100 | 0.47 | 5,100 | 341,100 | 0.47 | 5,100 | 66% |
| Norte Abierto, Chile (10)(19) | 50% | — | — | — | 598,800 | 0.60 | 11,600 | 598,800 | 0.60 | 11,600 | 74% |
| Boddington Open Pit | 100% | 276,500 | 0.64 | 5,600 | 219,200 | 0.61 | 4,300 | 495,700 | 0.62 | 9,900 | 84% |
| Boddington Stockpiles (5) | 100% | 2,100 | 0.67 | — | 61,900 | 0.42 | 800 | 64,100 | 0.43 | 900 | 83% |
| Total Boddington, Australia (11) | 100% | 278,600 | 0.64 | 5,700 | 281,200 | 0.57 | 5,100 | 559,800 | 0.60 | 10,800 | 84% |
| Tanami, Australia | 100% | 10,100 | 5.25 | 1,700 | 19,800 | 5.28 | 3,400 | 29,900 | 5.27 | 5,100 | 98% |
| Cadia, Australia (12) | 100% | — | — | — | 1,051,800 | 0.42 | 14,100 | 1,051,800 | 0.42 | 14,100 | 81% |
| Lihir Open Pits | 100% | — | — | — | 125,900 | 2.86 | 11,600 | 125,900 | 2.86 | 11,600 | 77% |
| Lihir Stockpiles (5) | 100% | — | — | — | 77,100 | 1.68 | 4,200 | 77,100 | 1.68 | 4,200 | 77% |
| Total Lihir, Papua NewGuinea (13) | 100% | — | — | — | 203,000 | 2.41 | 15,800 | 203,000 | 2.41 | 15,800 | 77% |
| Wafi-Golpu, Papua New Guinea (14)(19) | 50% | — | — | — | 194,500 | 0.82 | 5,100 | 194,500 | 0.82 | 5,100 | 68% |
| Ahafo South Open Pit | 100% | 2,400 | 2.64 | 200 | 39,700 | 1.57 | 2,000 | 42,000 | 1.63 | 2,200 | 89% |
| Ahafo South Underground | 100% | 6,100 | 2.97 | 600 | 15,200 | 2.36 | 1,200 | 21,300 | 2.54 | 1,700 | 94% |
| Ahafo South Stockpiles (5) | 100% | 21,700 | 0.97 | 700 | — | — | — | 21,700 | 0.97 | 700 | 91% |
| Total Ahafo South, Ghana | 100% | 30,200 | 1.51 | 1,500 | 54,800 | 1.79 | 3,200 | 85,000 | 1.69 | 4,600 | 91% |
| Ahafo North, Ghana | 100% | — | — | — | 62,000 | 2.32 | 4,600 | 62,000 | 2.32 | 4,600 | 91% |
| NGM Open Pit (15) | 38.5% | — | — | — | 124,200 | 1.16 | 4,600 | 124,200 | 1.16 | 4,600 | 77% |
| NGM Stockpiles (5)(16) | 38.5% | 16,400 | 1.86 | 1,000 | 12,900 | 2.35 | 1,000 | 29,200 | 2.08 | 2,000 | 69% |
| NGM Underground (17) | 38.5% | 4,000 | 11.28 | 1,400 | 39,700 | 7.73 | 9,900 | 43,700 | 8.06 | 11,300 | 89% |
| Total NGM, United States (18)(23) | 38.5% | 20,400 | 3.69 | 2,400 | 176,800 | 2.72 | 15,500 | 197,100 | 2.82 | 17,900 | 84% |
| Held for sale (20) | |||||||||||
| CC&V Open Pit | 100% | 87,000 | 0.43 | 1,200 | 28,600 | 0.43 | 400 | 115,600 | 0.43 | 1,600 | 58% |
| CC&V Leach Pads (21) | 100% | — | — | — | 34,600 | 0.73 | 800 | 34,600 | 0.73 | 800 | 55% |
| Total CC&V, United States | 100% | 87,000 | 0.43 | 1,200 | 63,200 | 0.60 | 1,200 | 150,200 | 0.50 | 2,400 | 57% |
| Musselwhite, Canada | 100% | 4,100 | 6.69 | 900 | 3,200 | 6.10 | 600 | 7,400 | 6.43 | 1,500 | 96% |
| Porcupine Underground | 100% | 1,600 | 5.09 | 300 | 2,700 | 7.27 | 600 | 4,400 | 6.45 | 900 | 89% |
| Porcupine Open Pit | 100% | 300 | 2.09 | — | 30,200 | 1.46 | 1,500 | 30,600 | 1.46 | 1,500 | 93% |
| Total Porcupine, Canada | 100% | 2,000 | 4.57 | 300 | 33,000 | 1.94 | 2,100 | 34,900 | 2.09 | 2,300 | 92% |
| Éléonore, Canada | 100% | 2,200 | 4.86 | 300 | 7,900 | 5.10 | 1,300 | 10,100 | 5.05 | 1,600 | 92% |
| Akyem Open Pit | 100% | 12,700 | 1.52 | 600 | 5,500 | 1.58 | 300 | 18,200 | 1.54 | 900 | 90% |
| Akyem Stockpiles (5) | 100% | 700 | 0.72 | — | — | — | — | 700 | 0.72 | — | 90% |
| Total Akyem, Ghana (22) | 100% | 13,500 | 1.48 | 600 | 5,500 | 1.58 | 300 | 19,000 | 1.50 | 900 | 90% |
| Total Gold | 622,100 | 1.06 | 21,100 | 3,741,000 | 0.94 | 113,000 | 4,363,000 | 0.96 | 134,100 | 81% | |
| Gold Reserves at December 31, 2023 (1) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Proven Reserves · Probable Reserves · Proven and Probable Reserves · MetallurgicalRecovery (3) | |||||||||||
| Deposits/Districts · NewmontShare · Tonnage (2)(000 tonnes) · Grade(g/tonne) · Ounces (3)(000) · Tonnage (2)(000 tonnes) · Grade(g/tonne) · Ounces (3)(000) · Tonnage (2)(000 tonnes) · Grade(g/tonne) · Ounces (3)(000) | |||||||||||
| CC&V Open Pit | 100% | 38,800 | 0.42 | 500 | 7,800 | 0.35 | 100 | 46,600 | 0.40 | 600 | 58% |
| CC&V Leach Pads (21) | 100% | — | — | — | 28,300 | 0.74 | 700 | 28,300 | 0.74 | 700 | 56% |
| Total CC&V, United States | 100% | 38,800 | 0.42 | 500 | 36,100 | 0.66 | 800 | 75,000 | 0.53 | 1,300 | 57% |
| Musselwhite, Canada | 100% | 3,200 | 6.78 | 700 | 3,800 | 6.30 | 800 | 7,000 | 6.52 | 1,500 | 96% |
| Porcupine Underground | 100% | 1,400 | 7.06 | 300 | 1,600 | 8.34 | 400 | 3,000 | 7.75 | 700 | 94% |
| Porcupine Open Pit | 100% | 3,200 | 1.43 | 100 | 26,600 | 1.54 | 1,300 | 29,700 | 1.53 | 1,500 | 93% |
| Total Porcupine, Canada | 100% | 4,500 | 3.14 | 500 | 28,200 | 1.93 | 1,700 | 32,700 | 2.10 | 2,200 | 93% |
| Éléonore, Canada | 100% | 2,100 | 5.08 | 300 | 6,800 | 5.47 | 1,200 | 8,900 | 5.38 | 1,500 | 92% |
| Brucejack, Canada (24) | 100% | — | — | — | 11,500 | 8.44 | 3,100 | 11,500 | 8.44 | 3,100 | 96% |
| Red Chris Open Pit | 70% | — | — | — | 30,200 | 0.37 | 300 | 30,200 | 0.37 | 300 | 53% |
| Red Chris Underground | 70% | — | — | — | 171,700 | 0.64 | 3,500 | 171,700 | 0.64 | 3,500 | 70% |
| Total Red Chris, Canada (24) | 70% | — | — | — | 201,900 | 0.60 | 3,900 | 201,900 | 0.60 | 3,900 | 68% |
| Peñasquito Open Pits | 100% | 121,700 | 0.57 | 2,200 | 142,800 | 0.49 | 2,200 | 264,500 | 0.53 | 4,500 | 59% |
| Peñasquito Stockpiles (5) | 100% | 2,000 | 0.36 | — | 24,500 | 0.19 | 200 | 26,500 | 0.20 | 200 | 59% |
| Total Peñasquito, Mexico (23) | 100% | 123,700 | 0.57 | 2,200 | 167,300 | 0.44 | 2,400 | 291,000 | 0.50 | 4,600 | 59% |
| Merian, Suriname | 75% | 29,600 | 1.19 | 1,100 | 74,400 | 1.15 | 2,800 | 104,000 | 1.16 | 3,900 | 93% |
| Cerro Negro, Argentina | 100% | 1,900 | 11.81 | 700 | 7,300 | 10.75 | 2,500 | 9,200 | 10.97 | 3,200 | 94% |
| Yanacocha Open Pits | 100% | 21,700 | 0.80 | 600 | 107,000 | 0.75 | 2,600 | 128,600 | 0.76 | 3,200 | 56% |
| Yanacocha Underground | 100% | — | — | — | 12,300 | 6.06 | 2,400 | 12,300 | 6.06 | 2,400 | 97% |
| Total Yanacocha, Peru | 100% | 21,700 | 0.80 | 600 | 119,200 | 1.30 | 5,000 | 140,900 | 1.22 | 5,500 | 73% |
| Pueblo Viejo Open Pit | 40% | 25,800 | 2.28 | 1,900 | 50,800 | 2.08 | 3,400 | 76,600 | 2.15 | 5,300 | 82% |
| Pueblo Viejo Stockpiles (5) | 40% | — | — | — | 39,700 | 2.12 | 2,700 | 39,700 | 2.12 | 2,700 | 83% |
| Total Pueblo Viejo, Dominican Republic (8)(19) | 40% | 25,800 | 2.28 | 1,900 | 90,500 | 2.10 | 6,100 | 116,300 | 2.14 | 8,000 | 82% |
| NuevaUnión, Chile (9)(19) | 50% | — | — | — | 341,100 | 0.47 | 5,100 | 341,100 | 0.47 | 5,100 | 66% |
| Norte Abierto, Chile (10)(19) | 50% | — | — | — | 598,800 | 0.60 | 11,600 | 598,800 | 0.60 | 11,600 | 74% |
| Boddington Open Pit | 100% | 215,300 | 0.67 | 4,600 | 192,600 | 0.64 | 3,900 | 407,900 | 0.66 | 8,600 | 85% |
| Boddington Stockpiles (5) | 100% | 2,000 | 0.72 | — | 70,000 | 0.43 | 1,000 | 72,000 | 0.44 | 1,000 | 80% |
| Total Boddington, Australia | 100% | 217,300 | 0.67 | 4,700 | 262,600 | 0.58 | 4,900 | 479,900 | 0.62 | 9,600 | 84% |
| Tanami, Australia | 100% | 9,900 | 5.58 | 1,800 | 16,600 | 5.71 | 3,100 | 26,600 | 5.66 | 4,800 | 98% |
| Cadia, Australia (23)(24) | 100% | — | — | — | 1,102,300 | 0.42 | 14,700 | 1,102,300 | 0.42 | 14,700 | 81% |
| Lihir Open Pits | 100% | — | — | — | 159,900 | 2.76 | 14,200 | 159,900 | 2.76 | 14,200 | 78% |
| Lihir Stockpiles (5) | 100% | — | — | — | 57,200 | 1.83 | 3,400 | 57,200 | 1.83 | 3,400 | 78% |
| Total Lihir, Papua NewGuinea (23)(24) | 100% | — | — | — | 217,100 | 2.51 | 17,500 | 217,100 | 2.51 | 17,500 | 78% |
| Wafi-Golpu, Papua New Guinea (19)(24) | 50% | — | — | — | 194,500 | 0.82 | 5,100 | 194,500 | 0.82 | 5,100 | 68% |
| Ahafo South Open Pit | 100% | 5,200 | 2.76 | 500 | 35,500 | 1.68 | 1,900 | 40,700 | 1.82 | 2,400 | 90% |
| Ahafo South Underground | 100% | 8,300 | 3.13 | 800 | 14,300 | 2.35 | 1,100 | 22,600 | 2.64 | 1,900 | 94% |
| Ahafo South Stockpiles (5) | 100% | 23,400 | 1.01 | 800 | — | — | — | 23,400 | 1.01 | 800 | 91% |
| Total Ahafo South, Ghana | 100% | 36,900 | 1.73 | 2,100 | 49,800 | 1.88 | 3,000 | 86,700 | 1.82 | 5,100 | 92% |
| Ahafo North, Ghana | 100% | 26,000 | 2.38 | 2,000 | 27,100 | 2.43 | 2,100 | 53,100 | 2.41 | 4,100 | 91% |
| Akyem Open Pit | 100% | 13,000 | 1.52 | 600 | 5,900 | 1.61 | 300 | 19,000 | 1.55 | 900 | 90% |
| Akyem Stockpiles (5) | 100% | 6,700 | 0.78 | 200 | — | — | — | 6,700 | 0.78 | 200 | 90% |
| Total Akyem, Ghana | 100% | 19,700 | 1.27 | 800 | 5,900 | 1.61 | 300 | 25,600 | 1.35 | 1,100 | 90% |
| NGM Open Pit | 38.5% | — | — | — | 154,700 | 1.01 | 5,000 | 154,700 | 1.01 | 5,000 | 77% |
| NGM Stockpiles (5) | 38.5% | 15,100 | 2.01 | 1,000 | 14,000 | 2.44 | 1,100 | 29,100 | 2.22 | 2,100 | 69% |
| NGM Underground | 38.5% | 5,100 | 11.58 | 1,900 | 35,100 | 8.19 | 9,300 | 40,200 | 8.62 | 11,100 | 87% |
| Total NGM, United States (18) | 38.5% | 20,200 | 4.42 | 2,900 | 203,900 | 2.35 | 15,400 | 224,100 | 2.54 | 18,300 | 82% |
| Total Gold | 581,400 | 1.22 | 22,800 | 3,766,800 | 0.94 | 113,200 | 4,348,100 | 0.97 | 135,900 | 80% | |
(1)At December 31, 2024 and 2023, gold reserves at sites for which Newmont is the operator were estimated at a gold price of $1,700 and $1,400 per ounce, respectively, unless otherwise noted. Reserves provided by other operators may use pricing that differs. Amounts presented may not recalculate in total due to rounding.
(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 100,000.
(4)Gold reserves at December 31, 2024 were estimated at a gold price of $1,300 per ounce.
(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)The net smelter return value utilized in 2024 reserves not less than $14.10 per tonne.
(7)Gold reserves related to the undeveloped Yanacocha Sulfides project at December 31, 2024 were estimated at a gold price of $1,200 per ounce.
(8)The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Gold reserves at December 31, 2024 were estimated at a gold price of $1,400 per ounce. Gold reserves at December 31, 2024 and 2023 were provided by Barrick, the operator of Pueblo Viejo.
(9)Project is currently undeveloped. Gold reserves at December 31, 2024 and 2023 were estimated at a gold price of $1,300 per ounce and were provided by the NuevaUnión joint venture.
(10)Project is currently undeveloped. Gold reserves at December 31, 2024 and 2023 were estimated at a gold price of $1,200 per ounce and were provided by the Norte Abierto joint venture.
(11)The net smelter return value utilized in 2024 reserves not less than $16.20 per tonne.
(12)The net smelter return value utilized in 2024 reserves not less than $21.70 per tonne.
(13)Cut-off grade utilized in 2024 reserves not less than 1.20 gram per tonne.
(14)Gold reserves at December 31, 2024 were estimated at a gold price of $1,200 per ounce.
(15)Cut-off grade utilized in 2024 reserves not less than 0.17 gram per tonne.
(16)Cut-off grade utilized in 2024 reserves not less than 0.42 gram per tonne.
(17)Cut-off grade utilized in 2024 reserves not less than 3.73 gram per tonne.
(18)Gold reserves at December 31, 2024 were estimated at a gold price of $1,400 per ounce. Gold reserves at December 31, 2024 and 2023 were provided by Barrick, the operator of the NGM joint venture.
(19)Currently included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.
(20)Sites are classified as held for sale as of December 31, 2024. Refer to Note 3 to the Consolidated Financial Statements for further discussion of our assets and liabilities held for sale.
(21)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.
(22)Gold reserves at December 31, 2024 were estimated at a gold price of $1,400 per ounce.
(23)Amounts presented herein have been rounded to the nearest 100,000 for ounces and tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.
(24)Sites acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information. Gold reserves at sites acquired through the Newcrest transaction were estimated at a gold price of $1,300 per ounce at December 31, 2023, with the exception of Lihir, for which gold reserves were estimated using Newmont's price assumptions, and certain legacy estimates, which have applied older, more conservative price assumptions.
The following tables detail copper proven and probable reserves reflecting only those reserves attributable to Newmont’s ownership or economic interest at December 31, 2024 and 2023:
| Copper Reserves at December 31, 2024 (1) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Proven Reserves · Probable Reserves · Proven and Probable Reserves · MetallurgicalRecovery (3) | |||||||||||
| Deposits/Districts · NewmontShare · Tonnage (2)(000 tonnes) · Grade(Cu %) · Tonnes (3)(000) · Tonnage (2)(000 tonnes) · Grade(Cu %) · Tonnes (3)(000) · Tonnage (2)(000 tonnes) · Grade(Cu %) · Tonnes (3)(000) | |||||||||||
| Red Chris Open Pit | 70% | — | —% | — | 14,700 | 0.45% | — | 14,700 | 0.45% | — | 80% |
| Red Chris Underground (4) | 70% | — | —% | — | 171,700 | 0.52% | 900 | 171,700 | 0.52% | 900 | 84% |
| Total Red Chris, Canada | 70% | — | —% | — | 186,400 | 0.52% | 1,000 | 186,400 | 0.52% | 1,000 | 84% |
| Yanacocha, Peru (5) | 100% | — | —% | — | 111,100 | 0.63% | 700 | 111,100 | 0.63% | 700 | 83% |
| NuevaUnión, Chile (6)(13) | 50% | — | —% | — | 1,118,000 | 0.40% | 4,400 | 1,118,000 | 0.40% | 4,400 | 88% |
| Norte Abierto, Chile (7)(13) | 50% | — | —% | — | 598,800 | 0.22% | 1,300 | 598,800 | 0.22% | 1,300 | 87% |
| Boddington Open Pit | 100% | 276,500 | 0.09% | 200 | 219,200 | 0.10% | 200 | 495,700 | 0.09% | 500 | 81% |
| Boddington Stockpiles (8) | 100% | 2,100 | 0.13% | — | 61,900 | 0.09% | 100 | 64,100 | 0.09% | 100 | 79% |
| Total Boddington, Australia (9) | 100% | 278,600 | 0.09% | 200 | 281,200 | 0.10% | 300 | 559,800 | 0.09% | 500 | 81% |
| Cadia, Australia (10) | 100% | — | —% | — | 1,051,800 | 0.29% | 3,100 | 1,051,800 | 0.29% | 3,100 | 87% |
| Wafi-Golpu, Papua New Guinea (11)(13) | 50% | — | —% | — | 194,500 | 1.20% | 2,300 | 194,500 | 1.20% | 2,300 | 95% |
| NGM, United States (12)(14) | 38.5% | 4,300 | 0.16% | — | 71,000 | 0.18% | 100 | 75,400 | 0.18% | 100 | 66% |
| Total Copper | 282,900 | 0.09% | 200 | 3,612,900 | 0.37% | 13,200 | 3,895,800 | 0.35% | 13,500 | 88% | |
| Copper Reserves at December 31, 2023 (1) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Proven Reserves · Probable Reserves · Proven and Probable Reserves · MetallurgicalRecovery (3) | |||||||||||
| Deposits/Districts · NewmontShare · Tonnage (2)(000 tonnes) · Grade(Cu %) · Tonnes (3)(000) · Tonnage (2)(000 tonnes) · Grade(Cu %) · Tonnes (3)(000) · Tonnage (2)(000 tonnes) · Grade(Cu %) · Tonnes (3)(000) | |||||||||||
| Red Chris Open Pit | 70% | — | —% | — | 30,200 | 0.43% | 100 | 30,200 | 0.43% | 100 | 80% |
| Red Chris Underground | 70% | — | —% | — | 171,700 | 0.52% | 900 | 171,700 | 0.52% | 900 | 84% |
| Total Red Chris, Canada (15) | 70% | — | —% | — | 201,900 | 0.51% | 1,000 | 201,900 | 0.51% | 1,000 | 84% |
| Yanacocha, Peru | 100% | — | —% | — | 111,100 | 0.63% | 700 | 111,100 | 0.63% | 700 | 83% |
| NuevaUnión, Chile (6)(13) | 50% | — | —% | — | 1,118,000 | 0.40% | 4,400 | 1,118,000 | 0.40% | 4,400 | 88% |
| Norte Abierto, Chile (7)(13) | 50% | — | —% | — | 598,800 | 0.22% | 1,300 | 598,800 | 0.22% | 1,300 | 87% |
| Boddington Open Pit | 100% | 215,300 | 0.09% | 200 | 192,600 | 0.11% | 200 | 407,900 | 0.10% | 400 | 82% |
| Boddington Stockpiles (8) | 100% | 2,000 | 0.15% | — | 70,000 | 0.09% | 100 | 72,000 | 0.09% | 100 | 73% |
| Total Boddington, Australia | 100% | 217,300 | 0.09% | 200 | 262,600 | 0.10% | 300 | 479,900 | 0.10% | 500 | 80% |
| Cadia, Australia (14)(15) | 100% | — | —% | — | 1,102,300 | 0.29% | 3,200 | 1,102,300 | 0.29% | 3,200 | 86% |
| Wafi-Golpu, Papua New Guinea (13)(15) | 50% | — | —% | — | 194,500 | 1.20% | 2,300 | 194,500 | 1.20% | 2,300 | 95% |
| NGM, United States (12) | 38.5% | 3,700 | 0.16% | — | 82,400 | 0.17% | 100 | 86,100 | 0.17% | 100 | 65% |
| Total Copper | 221,000 | 0.09% | 200 | 3,671,500 | 0.37% | 13,500 | 3,892,500 | 0.35% | 13,700 | 88% | |
(1)At December 31, 2024 and 2023, copper reserves at sites for which Newmont is the operator were estimated at a copper price of $3.50 per pound, unless otherwise noted. Reserves provided by other operators may use pricing that differs. Amounts presented may not recalculate in total due to rounding.
(3)Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.
(4)Copper reserves at December 31, 2024 were estimated at a copper price of $3.00 per pound.
(5)Copper reserve estimates relate to the undeveloped Yanacocha Sulfides project and at December 31, 2024 were estimated at a copper price of $2.75 per pound.
(6)Project is currently undeveloped. Copper reserves at December 31, 2024 and 2023 were estimated at a copper price of $3.00 per pound and were provided by the NuevaUnión joint venture.
(7)Project is currently undeveloped. Copper reserves at December 31, 2024 and 2023 were estimated at a copper price of $2.75 per pound and were provided by the Norte Abierto joint venture.
(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)The net smelter return value utilized in 2024 reserves not less than $16.20 per tonne.
(10)The net smelter return value utilized in 2024 reserves not less than $21.70 per tonne.
(11)Copper reserves at December 31, 2024 were estimated at a copper price of $3.00 per pound.
(12)Copper cut-off grade varies with gold and silver credits. Copper reserves at December 31, 2024 were estimated at a copper price of $3.00 per ounce. Copper reserves at December 31, 2024 and 2023 were provided by Barrick, the operator of the NGM joint venture.
(13)Currently included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.
(14)Amounts presented herein have been rounded to the nearest 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.
(15)Sites acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information. Copper reserves at sites acquired through the Newcrest transaction were estimated at a copper price of $3.00 per pound at December 31, 2023, with the exception of certain legacy estimates, which have applied older, more conservative price assumptions.
The following tables detail silver proven and probable reserves reflecting only those reserves attributable to Newmont’s ownership or economic interest at December 31, 2024 and 2023:
| Silver Reserves at December 31, 2024 (1) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Proven Reserves · Probable Reserves · Proven and Probable Reserves · MetallurgicalRecovery (3) | |||||||||||
| Deposits/Districts · NewmontShare · Tonnage (2)(000 tonnes) · Grade(g/tonne) · Ounces (3)(000) · Tonnage (2)(000 tonnes) · Grade(g/tonne) · Ounces (3)(000) · Tonnage (2)(000 tonnes) · Grade(g/tonne) · Ounces (3)(000) | |||||||||||
| Brucejack, Canada | 100% | — | — | — | 8,600 | 34.36 | 9,500 | 8,600 | 34.36 | 9,500 | 83% |
| Peñasquito Open Pits | 100% | 93,900 | 34.68 | 104,700 | 130,800 | 28.52 | 119,900 | 224,700 | 31.09 | 224,600 | 83% |
| Peñasquito Stockpiles (4) | 100% | 4,700 | 25.38 | 3,800 | 27,300 | 28.32 | 24,800 | 32,000 | 27.89 | 28,700 | 73% |
| Total Peñasquito, Mexico (5) | 100% | 98,600 | 34.24 | 108,500 | 158,100 | 28.49 | 144,800 | 256,600 | 30.70 | 253,300 | 82% |
| Cerro Negro, Argentina | 100% | 2,200 | 89.85 | 6,400 | 7,100 | 65.87 | 15,000 | 9,300 | 71.58 | 21,400 | 75% |
| Yanacocha Open Pits and Underground | 100% | — | — | — | 93,400 | 19.89 | 59,800 | 93,400 | 19.89 | 59,800 | 54% |
| Yanacocha Stockpiles and Leach Pads (4)(6) | 100% | — | — | — | 78,900 | 9.33 | 23,600 | 78,900 | 9.33 | 23,600 | 13% |
| Total Yanacocha, Peru (7) | 100% | — | — | — | 172,300 | 15.05 | 83,400 | 172,300 | 15.05 | 83,400 | 43% |
| Pueblo Viejo Open Pits | 40% | 32,200 | 12.44 | 12,900 | 49,500 | 11.49 | 18,300 | 81,700 | 11.86 | 31,200 | 71% |
| Pueblo Viejo Stockpiles (4) | 40% | — | — | — | 38,800 | 14.22 | 17,700 | 38,800 | 14.22 | 17,700 | 71% |
| Total Pueblo Viejo, Dominican Republic (8)(13) | 40% | 32,200 | 12.44 | 12,900 | 88,300 | 12.69 | 36,000 | 120,500 | 12.62 | 48,900 | 71% |
| NuevaUnión, Chile (9)(13) | 50% | — | — | — | 1,118,000 | 1.31 | 47,200 | 1,118,000 | 1.31 | 47,200 | 66% |
| Norte Abierto, Chile (10)(13) | 50% | — | — | — | 598,800 | 1.52 | 29,300 | 598,800 | 1.52 | 29,300 | 74% |
| Cadia, Australia (11) | 100% | — | — | — | 1,051,800 | 0.67 | 22,800 | 1,051,800 | 0.67 | 22,800 | 68% |
| NGM Open Pit | 38.5% | — | — | — | 54,600 | 7.78 | 13,700 | 54,600 | 7.78 | 13,700 | 38% |
| NGM Stockpiles (4) | 38.5% | 3,200 | 7.87 | 800 | — | — | — | 3,200 | 7.87 | 800 | 38% |
| Total NGM, UnitedStates (12)(14) | 38.5% | 3,200 | 7.87 | 800 | 54,600 | 7.78 | 13,700 | 57,900 | 7.78 | 14,500 | 38% |
| Total Silver | 136,200 | 29.37 | 128,600 | 3,257,700 | 3.83 | 401,600 | 3,393,800 | 4.86 | 530,200 | 71% | |
| Silver Reserves at December 31, 2023 (1) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Proven Reserves · Probable Reserves · Proven and Probable Reserves · MetallurgicalRecovery (3) | |||||||||||
| Deposits/Districts · NewmontShare · Tonnage (2)(000 tonnes) · Grade(g/tonne) · Ounces (3)(000) · Tonnage (2)(000 tonnes) · Grade(g/tonne) · Ounces (3)(000) · Tonnage (2)(000 tonnes) · Grade(g/tonne) · Ounces (3)(000) | |||||||||||
| Brucejack, Canada (15) | 100% | — | — | — | 11,500 | 34.71 | 12,800 | 11,500 | 34.71 | 12,800 | 85% |
| Peñasquito Open Pits | 100% | 121,700 | 37.98 | 148,600 | 142,800 | 30.31 | 139,200 | 264,500 | 33.84 | 287,800 | 80% |
| Peñasquito Stockpiles (4) | 100% | 2,000 | 33.97 | 2,200 | 24,500 | 28.79 | 22,700 | 26,500 | 29.18 | 24,900 | 80% |
| Total Peñasquito, Mexico (14) | 100% | 123,700 | 37.91 | 150,800 | 167,300 | 30.09 | 161,800 | 291,000 | 33.42 | 312,600 | 80% |
| Cerro Negro, Argentina | 100% | 1,900 | 85.48 | 5,200 | 7,300 | 69.23 | 16,300 | 9,200 | 72.58 | 21,500 | 75% |
| Yanacocha Open Pits and Underground | 100% | — | — | — | 93,400 | 19.89 | 59,800 | 93,400 | 19.89 | 59,800 | 54% |
| Yanacocha Stockpiles and Leach Pads (4)(6) | 100% | — | — | — | 86,000 | 9.07 | 25,100 | 86,000 | 9.07 | 25,100 | 13% |
| Total Yanacocha, Peru | 100% | — | — | — | 179,500 | 14.70 | 84,800 | 179,500 | 14.70 | 84,800 | 42% |
| Pueblo Viejo Open Pits | 40% | 25,800 | 13.15 | 10,900 | 50,800 | 12.31 | 20,100 | 76,600 | 12.59 | 31,000 | 74% |
| Pueblo Viejo Stockpiles (4) | 40% | — | — | — | 39,700 | 14.48 | 18,500 | 39,700 | 14.48 | 18,500 | 70% |
| Total Pueblo Viejo, Dominican Republic (8) | 40% | 25,800 | 13.15 | 10,900 | 90,500 | 13.26 | 38,600 | 116,300 | 13.24 | 49,500 | 73% |
| NuevaUnión, Chile (9)(13) | 50% | — | — | — | 1,118,000 | 1.31 | 47,200 | 1,118,000 | 1.31 | 47,200 | 66% |
| Norte Abierto, Chile (10)(13) | 50% | — | — | — | 598,800 | 1.52 | 29,300 | 598,800 | 1.52 | 29,300 | 74% |
| Cadia, Australia (14)(15) | 100% | — | — | — | 1,102,300 | 0.68 | 24,000 | 1,102,300 | 0.68 | 24,000 | 67% |
| NGM Open Pit | 38.5% | — | — | — | 60,800 | 6.93 | 13,600 | 60,800 | 6.93 | 13,600 | 38% |
| NGM Stockpiles (4) | 38.5% | 2,400 | 7.97 | 600 | — | — | — | 2,400 | 7.97 | 600 | 38% |
| Total NGM, United States (12) | 38.5% | 2,400 | 7.97 | 600 | 60,800 | 6.93 | 13,600 | 63,200 | 6.97 | 14,200 | 38% |
| Total Silver | 153,900 | 33.87 | 167,600 | 3,335,900 | 4.00 | 428,400 | 3,489,800 | 5.31 | 596,000 | 70% | |
(1)At December 31, 2024 and 2023, silver reserves at sites for which Newmont is the operator were estimated at a silver price of $20.00 per ounce, unless otherwise noted. Reserves provided by other operators may use pricing that differs. Amounts presented may not recalculate in total due to rounding.
(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 100,000.
(4)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.
(5)The net smelter return value utilized in 2024 reserves not less than $14.10 per tonne.
(6)Leach pad material is the material on leach pads at the end of the year from which silver 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.
(7)Silver reserves related to the undeveloped Yanacocha Sulfides project at December 31, 2024 were estimated at a silver price of $20.00 per ounce.
(8)The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Silver reserves at December 31, 2024 were estimated at a gold price of $20.00 per ounce. Silver reserves at December 31, 2024 and 2023 were provided by Barrick, the operator of Pueblo Viejo.
(9)Project is currently undeveloped. Silver reserves at December 31, 2024 and 2023 were estimated at a silver price of $18.00 per ounce and were provided by the NuevaUnión joint venture.
(10)Project is currently undeveloped. Silver reserves at December 31, 2024 and 2023 were estimated at a silver price of $22.00 per ounce and were provided by the Norte Abierto joint venture.
(11)The net smelter return value utilized in 2024 reserves not less than $21.70 per tonne.
(12)Silver cut-off grade varies with gold and copper credits. Silver reserves at December 31, 2024 were estimated at a silver price of $24.00 per ounce. Silver reserves at December 31, 2024 and 2023 were provided by Barrick, the operator of the NGM joint venture.
(13)Currently included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.
(14)Amounts presented herein have been rounded to the nearest 100,000 for ounces and tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.
(15)Sites acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information. Silver reserves at sites acquired through the Newcrest transaction were estimated at a silver price of $18.00 per ounce at December 31, 2023.
The following tables detail lead proven and probable reserves reflecting only those reserves attributable to Newmont’s ownership or economic interest at December 31, 2024 and 2023:
| Lead Reserves at December 31, 2024 (1) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Proven Reserves · Probable Reserves · Proven and Probable Reserves · MetallurgicalRecovery (3) | |||||||||||
| Deposits/Districts · NewmontShare · Tonnage (2)(000 tonnes) · Grade(Pb %) · Tonnes (3)(000) · Tonnage (2)(000 tonnes) · Grade(Pb %) · Tonnes (3)(000) · Tonnage (2)(000 tonnes) · Grade(Pb %) · Tonnes (3)(000) | |||||||||||
| Peñasquito Open Pits, Mexico (4) | 100% | 93,900 | 0.35% | 300 | 130,800 | 0.27% | 400 | 224,700 | 0.30% | 700 | 75% |
| Peñasquito Stockpiles, Mexico (4)(5) | 100% | 4,700 | 0.28% | — | 27,300 | 0.37% | 100 | 32,000 | 0.36% | 100 | 68% |
| Total Lead | 98,600 | 0.35% | 300 | 158,100 | 0.29% | 500 | 256,600 | 0.31% | 800 | 74% | |
| Lead Reserves at December 31, 2023 (1) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Proven Reserves · Probable Reserves · Proven and Probable Reserves · MetallurgicalRecovery (3) | |||||||||||
| Deposits/Districts · NewmontShare · Tonnage (2)(000 tonnes) · Grade(Pb %) · Tonnes (3)(000) · Tonnage (2)(000 tonnes) · Grade(Pb %) · Tonnes (3)(000) · Tonnage (2)(000 tonnes) · Grade(Pb %) · Tonnes (3)(000) | |||||||||||
| Peñasquito Open Pits, Mexico (6) | 100% | 121,700 | 0.37% | 400 | 142,800 | 0.28% | 400 | 264,500 | 0.32% | 900 | 73% |
| Peñasquito Stockpiles, Mexico (5)(6) | 100% | 2,000 | 0.32% | — | 24,500 | 0.38% | 100 | 26,500 | 0.37% | 100 | 73% |
| Total Lead | 123,700 | 0.37% | 500 | 167,300 | 0.30% | 500 | 291,000 | 0.33% | 900 | 73% | |
(1)At December 31, 2024 and 2023, lead reserves were estimated at a lead price of $0.90 and $1.00 per pound, respectively. Amounts presented may not recalculate in total due to rounding.
(3)Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.
(4)The net smelter return value utilized in 2024 reserves not less than $14.10 per tonne.
(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 pounds exceed 100 million and are greater than 5% of the total site-reported reserves.
(6)Amounts presented herein have been rounded to the nearest 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.
The following tables detail zinc proven and probable reserves reflecting only those reserves attributable to Newmont’s ownership or economic interest at December 31, 2024 and 2023:
| Zinc Reserves at December 31, 2024 (1) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Proven Reserves · Probable Reserves · Proven and Probable Reserves · MetallurgicalRecovery (3) | |||||||||||
| Deposits/Districts · NewmontShare · Tonnage (2)(000 tonnes) · Grade(Zn %) · Tonnes (3)(000) · Tonnage (2)(000 tonnes) · Grade(Zn %) · Tonnes (3)(000) · Tonnage (2)(000 tonnes) · Grade(Zn %) · Tonnes (3)(000) | |||||||||||
| Peñasquito Open Pits, Mexico (4) | 100% | 93,900 | 0.81% | 800 | 130,800 | 0.60% | 800 | 224,700 | 0.69% | 1,500 | 83% |
| Peñasquito Stockpiles, Mexico (4)(5) | 100% | 4,700 | 0.80% | — | 27,300 | 0.54% | 100 | 32,000 | 0.58% | 200 | 75% |
| Total Zinc | 98,600 | 0.81% | 800 | 158,100 | 0.59% | 900 | 256,600 | 0.68% | 1,700 | 82% | |
| Zinc Reserves at December 31, 2023 (1) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Proven Reserves · Probable Reserves · Proven and Probable Reserves · MetallurgicalRecovery (3) | |||||||||||
| Deposits/Districts · NewmontShare · Tonnage (2)(000 tonnes) · Grade(Zn %) · Tonnes (3)(000) · Tonnage (2)(000 tonnes) · Grade(Zn %) · Tonnes (3)(000) · Tonnage (2)(000 tonnes) · Grade(Zn %) · Tonnes (3)(000) | |||||||||||
| Peñasquito Open Pits, Mexico (6) | 100% | 121,700 | 0.95% | 1,200 | 142,800 | 0.66% | 900 | 264,500 | 0.79% | 2,100 | 82% |
| Peñasquito Stockpiles, Mexico (5)(6) | 100% | 2,000 | 0.66% | — | 24,500 | 0.52% | 100 | 26,500 | 0.53% | 100 | 82% |
| Total Zinc | 123,700 | 0.94% | 1,200 | 167,300 | 0.63% | 1,100 | 291,000 | 0.77% | 2,200 | 82% | |
(1)At December 31, 2024 and 2023, zinc reserves were estimated at a zinc price of $1.20 per pound. Amounts presented may not recalculate in total due to rounding.
(3)Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.
(4)The net smelter return value utilized in 2024 reserves not less than $14.10 per tonne.
(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 pounds exceed 100 million and are greater than 5% of the total site-reported reserves.
(6)Amounts presented herein have been rounded to the nearest 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.
The following tables detail molybdenum proven and probable reserves reflecting only those reserves attributable to Newmont’s ownership or economic interest at December 31, 2024 and 2023:
| Molybdenum Reserves at December 31, 2024 (1) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Proven Reserves · Probable Reserves · Proven and Probable Reserves · MetallurgicalRecovery (3) | |||||||||||
| Deposits/Districts · NewmontShare · Tonnage (2)(000 tonnes) · Grade(Mo %) · Tonnes (3)(000) · Tonnage (2)(000 tonnes) · Grade(Mo %) · Tonnes (3)(000) · Tonnage (2)(000 tonnes) · Grade(Mo %) · Tonnes (3)(000) | |||||||||||
| NuevaUnión, Chile (4)(5) | 50% | — | —% | — | 776,900 | 0.02% | 100 | 776,900 | 0.02% | 100 | 48% |
| Cadia, Australia (6) | 100% | — | —% | — | 1,040,600 | 0.01% | 100 | 1,040,600 | 0.01% | 100 | 67% |
| Total Molybdenum | — | —% | — | 1,817,500 | 0.01% | 200 | 1,817,500 | 0.01% | 200 | 56% | |
| Molybdenum Reserves at December 31, 2023 (1) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Proven Reserves · Probable Reserves · Proven and Probable Reserves · MetallurgicalRecovery (3) | |||||||||||
| Deposits/Districts · NewmontShare · Tonnage (2)(000 tonnes) · Grade(Mo %) · Tonnes (3)(000) · Tonnage (2)(000 tonnes) · Grade(Mo %) · Tonnes (3)(000) · Tonnage (2)(000 tonnes) · Grade(Mo %) · Tonnes (3)(000) | |||||||||||
| NuevaUnión, Chile (4)(5) | 50% | — | —% | — | 776,900 | 0.02% | 100 | 776,900 | 0.02% | 100 | 48% |
| Cadia, Australia (7)(8) | 100% | — | —% | — | 1,085,100 | 0.01% | 100 | 1,085,100 | 0.01% | 100 | 72% |
| Total Molybdenum | — | —% | — | 1,862,000 | 0.01% | 200 | 1,862,000 | 0.01% | 200 | 55% | |
(1)At December 31, 2024 and 2023, molybdenum reserves at sites for which Newmont is the operator were estimated at a molybdenum price of $13.00 and $8.00 per pound, respectively, unless otherwise noted. Amounts presented may not recalculate in total due to rounding.
(3)Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.
(4)Project is currently undeveloped. Molybdenum reserves at December 31, 2024 and 2023 were estimated at a molybdenum price of $10.00 per pound and were provided by the NuevaUnión joint venture.
(5)Currently included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.
(6)The net smelter return value utilized in 2024 reserves not less than $21.70 per tonne.
(7)Amounts presented herein have been rounded to the nearest 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.
(8)Site acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.