NEWMONT Corp DE

Newmont is the world’s leading gold company and is the only gold company included in the S&P 500 Index and the Fortune 500 list of companies. We have been included in the Dow Jones Sustainability Index-World since 2007 and have adopted the World Gold Council’s Conflict-Free Gold Policy. In June 2024, Newmont was named as the only miner in TIME’s top 100 green firms ranking. Since 2015, Newmont has been ranked as the mining and metal sector's top gold miner by the S&P Global Corporate Sustainability Assessment. Newmont was ranked the top miner in 3BL Media’s 100 Best Corporate Citizens list which ranks the 1,000 largest publicly traded U.S. companies on ESG transparency and performance since 2020. We are primarily engaged in the exploration for and acquisition of gold properties, some of which may contain copper, silver, lead, zinc or other metals. We have significant operations and/or assets in the U.S., Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana. Our goal is to create value and improve lives through sustainable and responsible mining.

Refer to the Consolidated Financial Results, Results of Consolidated Operations, Liquidity and Capital Resources and non-GAAP Financial Measures for information about the continued impacts from inflationary pressures, effects of certain countermeasures taken by central banks, and supply chain disruptions, with particular consideration on the outlook for increased costs specific to labor, materials, consumables and fuel and energy on operations, as well as impacts on the timing and cost of capital expenditures and the risk of potential impairment to certain assets. Refer to discussion of Risk and Uncertainties within Note 2 to the Condensed Consolidated Financial Statements for further information.

Divestiture of Non-Core Assets

Based on a comprehensive review of the Company’s portfolio of assets following the Newcrest acquisition, the Company’s Board of Directors approved a portfolio optimization program to divest six non-core assets and a development project in February 2024. The non-core assets to be divested included CC&V, Musselwhite, Porcupine, Éléonore, Telfer, Akyem, and the Coffee development project in Canada. In February 2024, the Company concluded that these non-core assets and the development project met the accounting requirements to be presented as held for sale in the first quarter of 2024, based on progress made through our active sales program and management’s expectation that the sale is probable and will be completed within 12 months. While the Company remains committed to a plan to sell these assets for a fair price, there is a possibility that the assets held for sale may exceed one year due to events or circumstances beyond the Company's control.

The Company completed the sale of the assets of the Telfer reportable segment in the fourth quarter of 2024 and completed the sale of the CC&V, Musselwhite, and Éléonore reportable segments in the first quarter of 2025. On April 15, 2025, the Company completed the sale of the Akyem and Porcupine reportable segments to Zijin Mining Group Co., Ltd. and Discovery Silver Corp., respectively, for total pre-tax cash proceeds of $1,088, net of working capital adjustments. The Company is currently evaluating the impact of the Akyem and Porcupine completed sales on its consolidated financial statements.

Assets classified as held for sale are recorded at the lower of the carrying value or fair value, less costs to sell and are periodically valued until sale occurs with any resulting gain or loss recognized in(Gain) loss on sale of assets held for sale. Additionally, gains or losses recognized on the completion of the sale are recognized in(Gain) loss on sale of assets held for sale.

As a result, for the three months ended March 31, 2025 a gain of $276 was recognized within(Gain) loss on sale of assets held for sale primarily resulting from the completion of the sales of the CC&V, Musselwhite, and Éléonore reportable segments. For the three months ended March 31, 2024, a loss of $485 was recognized within(Gain) loss on sale of assets held for sale consisting of write-downs on assets held for sale of $352 and a resulting tax impact of $133.

Refer to Note 3 to the Condensed Consolidated Financial Statements for further information on divestitures.