NEWMONT Corp /DE/

For the period ended Dec 31, 2025. Filed Feb 19, 2026.

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.

FY2025 · Filed Feb 19, 2026

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

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

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Contents

Operating Statistics

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, 2025 · 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 · Consolidated
Lihir	30,984	—	10,072	—	2.344	—	77.1%	585	—	585	582
Cadia	—	29,581	29,520	—	0.524	—	79.0%	385	—	385	384
Tanami	—	2,334	2,393	—	5.189	—	97.9%	391	—	391	385
Boddington	79,235	—	36,532	—	0.572	—	85.0%	565	—	565	550
Ahafo South	25,631	2,485	9,663	—	2.291	—	93.6%	664	—	664	672
Ahafo North (3)	4,595	—	621	—	2.602	—	93.0%	70	—	70	58
Merian (4)	45,920	—	12,815	—	0.644	—	92.0%	237	—	237	238
Cerro Negro	—	789	790	—	8.287	—	95.5%	202	—	202	196
Yanacocha	32,340	—	—	25,935	—	0.844	—%	—	515	515	517
Peñasquito	137,086	—	34,902	—	0.643	—	64.2%	415	—	415	422
Red Chris	19,097	—	6,076	—	0.534	—	62.0%	62	—	62	61
Brucejack	—	1,212	1,226	—	6.388	—	96.8%	231	—	231	235
NGM	85,185	2,731	10,751	5,441	3.431	0.158	82.7%	971	28	999	1,006
Divested (5)
CC&V	5,839	—	—	2,813	—	0.427	—%	—	28	28	27
Musselwhite	—	174	175	—	6.618	—	96.0%	33	—	33	32
Porcupine	296	250	519	—	3.516	—	92.5%	55	—	55	60
Éléonore	—	290	291	—	5.640	—	92.8%	50	—	50	49
Akyem	7,013	—	2,073	—	0.708	—	90.8%	43	—	43	45
Total Gold (6)	473,221	39,846	158,419	34,189	1.183	0.700	83.5%	4,959	571	5,530	5,519

(3)Ounces produced includes 21 development ounces.

(4)Merian produced 178 attributable ounces, which reflects our 75% ownership interest. Total attributable ounces were 5,471 ounces.

(6)Total gold consolidated ounces produced excludes 253 attributable ounces related to Pueblo Viejo, which is 40% owned by Newmont, managed by Barrick, and accounted for as an equity method investment.

	Production Costs per Ounce Sold (1)(2)
Year EndedDecember 31, 2025	Direct Mining and Production Costs	By-Product Credits	Royalties and Production Taxes	Write-Downs and Inventory Change	Costs Applicable to Sales (3)	Depreciation and Amortization	Reclamation and Remediation	Total Production Costs (4)	All-In Sustaining Costs per Ounce Sold (1)(2)
Lihir	$1,662	$(2)	$85	$(448)	$1,297	$322	$23	$1,642	$1,607
Cadia	$877	$(136)	$123	$(19)	$845	$324	$7	$1,176	$1,253
Tanami	$1,023	$(3)	$90	$4	$1,114	$323	$8	$1,445	$1,716
Boddington	$1,242	$(39)	$90	$(49)	$1,244	$233	$24	$1,501	$1,514
Ahafo South	$838	$(2)	$403	$(12)	$1,227	$276	$11	$1,514	$1,494
Ahafo North	$579	$(1)	$210	$(256)	$532	$168	$1	$701	$696
Merian	$1,369	$(1)	$209	$(15)	$1,562	$317	$20	$1,899	$1,921
Cerro Negro	$1,665	$(219)	$180	$(32)	$1,594	$633	$29	$2,256	$2,220
Yanacocha	$776	$(28)	$106	$(59)	$795	$218	$15	$1,028	$964
Peñasquito	$916	$(29)	$73	$(38)	$922	$382	$17	$1,321	$1,120
Red Chris	$1,366	$(36)	$53	$(25)	$1,358	$399	$40	$1,797	$1,750
Brucejack	$1,570	$(74)	$46	$(77)	$1,465	$775	$22	$2,262	$2,020
NGM	$1,328	$(76)	$106	$(24)	$1,334	$475	$11	$1,820	$1,629
Divested (5)
CC&V	$1,366	$(26)	$190	$(133)	$1,397	$62	$91	$1,550	$1,684
Musselwhite	$1,095	$(3)	$91	$(143)	$1,040	$—	$19	$1,059	$1,531
Porcupine	$1,358	$(5)	$52	$(105)	$1,300	$19	$48	$1,367	$1,810
Éléonore	$1,031	$(2)	$64	$11	$1,104	$—	$13	$1,117	$1,403
Akyem	$1,611	$(11)	$275	$483	$2,358	$62	$101	$2,521	$2,664
Total Gold	$1,175	$(44)	$142	$(74)	$1,199	$362	$17	$1,578	$1,609

	Mining and Production Detail (1)
Year EndedDecember 31, 2024 · 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 · Consolidated
Lihir	34,515	—	10,885	—	2.334	—	74.8%	614	—	614	620
Cadia	—	30,742	29,824	—	0.626	—	79.6%	464	—	464	454
Tanami	—	2,416	2,359	—	5.442	—	98.5%	408	—	408	411
Boddington	68,208	—	34,936	—	0.623	—	85.2%	590	—	590	581
Ahafo South	26,252	2,524	9,470	—	2.807	—	94.1%	798	—	798	798
Merian (3)	50,433	—	14,141	—	0.646	—	92.9%	274	—	274	274
Cerro Negro	—	837	836	—	9.379	—	94.2%	238	—	238	236
Yanacocha	54,836	—	—	23,265	—	0.396	—%	—	354	354	352
Peñasquito	138,280	—	32,896	—	0.539	—	59.9%	299	—	299	290
Red Chris	19,591	—	6,293	—	0.367	—	56.3%	40	—	40	39
Brucejack	—	1,083	1,073	—	7.811	—	96.8%	258	—	258	249
NGM	82,300	2,642	11,140	3,859	3.296	0.205	82.3%	974	65	1,039	1,036
Held for sale (4)
CC&V	36,240	—	—	21,029	—	0.443	—%	—	146	146	144
Musselwhite	—	1,033	1,029	—	6.630	—	96.4%	212	—	212	215
Porcupine	1,423	902	2,938	—	3.224	—	92.9%	284	—	284	282
Éléonore	—	1,808	1,807	—	4.521	—	91.4%	240	—	240	243
Akyem	24,210	—	8,287	—	0.857	—	89.0%	204	—	204	212
Divested (4)
Telfer	25,568	639	3,665	—	0.770	—	89.9%	73	10	83	103
Total Gold (5)	561,856	44,626	171,579	48,153	1.292	0.401	84.7%	5,970	575	6,545	6,539

(3)Merian produced 205 attributable ounces, which reflects our 75% ownership interest. Total attributable ounces were 6,476 ounces.

(4)Refer to Note 3 to the Consolidated Financial Statements for information on the Company's divestitures.

(5)Total gold consolidated ounces produced excludes 235 attributable ounces related to Pueblo Viejo, which is 40% owned by Newmont, managed by Barrick, and accounted for as an equity method investment.

	Production Costs per Ounce Sold (1)(2)
Year EndedDecember 31, 2024	Direct Mining and Production Costs	By-Product Credits	Royalties and Production Taxes	Write-Downs and Inventory Change	Costs Applicable to Sales (3)	Depreciation and Amortization	Reclamation and Remediation	Total Production Costs (4)	All-In Sustaining Costs per Ounce Sold (1)(2)
Lihir	$1,575	$(1)	$59	$(363)	$1,270	$270	$19	$1,559	$1,512
Cadia	$681	$(103)	$82	$(7)	$653	$263	$5	$921	$1,048
Tanami	$900	$(2)	$60	$(11)	$947	$300	$5	$1,252	$1,281
Boddington	$1,057	$(24)	$62	$(39)	$1,056	$193	$16	$1,265	$1,288
Ahafo South	$644	$(2)	$199	$63	$904	$270	$9	$1,183	$1,072
Merian	$1,300	$(1)	$144	$14	$1,457	$305	$16	$1,778	$1,852
Cerro Negro	$1,359	$(120)	$121	$(35)	$1,325	$521	$19	$1,865	$1,631
Yanacocha	$968	$(19)	$72	$(18)	$1,003	$279	$21	$1,303	$1,196
Peñasquito	$755	$(5)	$40	$(14)	$776	$355	$14	$1,145	$984
Red Chris	$1,257	$(11)	$35	$(56)	$1,225	$367	$43	$1,635	$1,607
Brucejack	$1,317	$(36)	$32	$(59)	$1,254	$691	$19	$1,964	$1,603
NGM	$1,208	$(60)	$74	$(3)	$1,219	$413	$12	$1,644	$1,605
Held for sale (5)
CC&V	$1,568	$(13)	$135	$(300)	$1,390	$90	$76	$1,556	$1,691
Musselwhite	$953	$(3)	$75	$20	$1,045	$86	$16	$1,147	$1,541
Porcupine	$998	$(6)	$43	$62	$1,097	$127	$33	$1,257	$1,437
Éléonore	$1,271	$(2)	$54	$16	$1,339	$88	$15	$1,442	$1,811
Akyem	$1,105	$(7)	$297	$201	$1,596	$271	$65	$1,932	$1,816
Divested (5)
Telfer	$3,443	$(9)	$63	$(1,120)	$2,377	$142	$110	$2,629	$2,993
Total Gold	$1,110	$(27)	$94	$(51)	$1,126	$304	$19	$1,449	$1,516

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

(3)Sites acquired through the Newcrest transaction in 2023. Refer to Note 3 to the Consolidated Financial Statements for further information.

(4)Merian produced 242 attributable ounces, which reflects our 75% ownership interest. Total attributable ounces were 5,321 ounces.

(5)Total gold consolidated ounces produced excludes 224 attributable ounces related to Pueblo Viejo, which is 40% owned by Newmont, managed by Barrick, and accounted for as an equity method investment.

	Production Costs per Ounce Sold (1)(2)
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 (3)	Depreciation and Amortization	Reclamation and Remediation	Total Production Costs (4)	All-In Sustaining Costs per Ounce Sold (1)(2)
Lihir (5)	$1,235	$(2)	$50	$(166)	$1,117	$153	$—	$1,270	$1,517
Cadia (5)	$477	$(59)	$51	$610	$1,079	$130	$1	$1,210	$1,271
Tanami	$704	$(2)	$51	$6	$759	$249	$4	$1,012	$1,060
Boddington	$822	$(17)	$49	$(7)	$847	$144	$12	$1,003	$1,067
Telfer (5)	$1,360	$(9)	$60	$471	$1,882	$87	$—	$1,969	$1,988
Ahafo South	$820	$(1)	$141	$(13)	$947	$312	$11	$1,270	$1,222
Akyem	$826	$(6)	$115	$(4)	$931	$413	$40	$1,384	$1,210
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
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
Yanacocha	$1,122	$(16)	$59	$(96)	$1,069	$310	$20	$1,399	$1,266
Musselwhite	$1,152	$(2)	$48	$(12)	$1,186	$444	$17	$1,647	$1,843
Peñasquito	$1,296	$(6)	$33	$(104)	$1,219	$516	$28	$1,763	$1,590
CC&V	$1,327	$(7)	$121	$(285)	$1,156	$136	$59	$1,351	$1,644
Red Chris (5)	$1,825	$(1)	$27	$(946)	$905	$298	$15	$1,218	$1,439
Brucejack (5)	$1,484	$(41)	$30	$425	$1,898	$617	$—	$2,515	$2,646
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

(5)Sites acquired through the Newcrest transaction in 2023. Refer to Note 3 to the Consolidated Financial Statements for further information.

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

Year Ended December 31, 2025	Tonnes Milled(thousands)	Average Milled Grade (1)	Average Mill Recovery Rate	Consolidated Pounds/Ounces Produced (millions)	Consolidated Pounds/Ounces Sold (millions)
Copper (pounds)
Cadia	29,520	0.34%	84.3%	180	180
Boddington	36,532	0.09%	81.0%	53	53
Red Chris	6,076	0.58%	83.3%	63	61
Total Copper	72,128	0.23%	83.5%	296	294
Silver (ounces) (2)	34,901	34.10	81.2%	28	28
Lead (pounds) (2)	34,901	0.38%	77.5%	216	209
Zinc (pounds) (2)	34,901	0.96%	82.7%	509	542

Year Ended December 31, 2024	Tonnes Milled(thousands)	Average Milled Grade (1)	Average Mill Recovery Rate	Consolidated Pounds/Ounces Produced (millions)	Consolidated Pounds/Ounces Sold (millions)
Copper (pounds)
Cadia	29,824	0.36%	84.5%	191	186
Boddington	34,936	0.14%	83.1%	83	83
Telfer (3)	3,665	0.11%	73.8%	6	6
Red Chris	6,293	0.52%	83.4%	58	57
Total Copper	74,718	0.26%	83.7%	338	332
Silver (ounces) (2)	32,896	42.61	81.3%	33	33
Lead (pounds) (2)	32,896	0.41%	75.9%	212	213
Zinc (pounds) (2)	32,896	1.13%	83.0%	569	545

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

(1)Average milled grade is calculated as the percentage of the respective metal contained in the total tonnes that were milled, with the exception of silver, which is reported in grams/tonne.

(2)All of our silver, lead, and zinc co-product production came from Peñasquito.

(3)In the fourth quarter of 2024, the Company completed the sale of the assets of the Telfer reportable segment. Refer to Note 3 to the Consolidated Financial Statements for further information.

(4)Sites acquired through the Newcrest transaction in 2023. Refer to Note 3 to the Consolidated Financial Statements for further information.

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 as provided in Results of Consolidated Operations within Part II, Item 7 below.

Year Ended December 31, 2025	Cadia	Boddington	Peñasquito	Red Chris	Total / Weighted-Average
Consolidated GEO sold (thousands)	370	109	820	126	1,425
Production costs per GEO sold: (1)(2)
Costs applicable to sales	$812	$1,165	$1,066	$1,341	$1,032
Depreciation and amortization	326	223	402	399	368
Reclamation and remediation	7	23	18	40	17
Total production costs per GEO sold	$1,145	$1,411	$1,486	$1,780	$1,417
All-in sustaining costs per GEO sold (1)(2)	$1,230	$1,397	$1,318	$1,692	$1,392

Year Ended December 31, 2024	Cadia	Boddington	Peñasquito	Red Chris	Telfer (3)	Total / Weighted-Average
Consolidated GEO sold (thousands)	465	205	1,088	142	16	1,916
Production costs per GEO sold: (1)(2)
Costs applicable to sales	$603	$994	$831	$1,209	$2,398	$834
Depreciation and amortization	263	189	343	366	161	307
Reclamation and remediation	5	16	15	37	106	15
Total production costs per GEO sold	$871	$1,199	$1,189	$1,612	$2,665	$1,156
All-in sustaining costs per GEO sold (1)(2)	$987	$1,172	$1,090	$1,640	$2,885	$1,161

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

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

(2)Per GEO measures may not recalculate due to rounding.

(3)Sites acquired through the Newcrest transaction in 2023. In the fourth quarter of 2024, the Company completed the sale of the assets of the Telfer reportable segment. Refer to Note 3 to the Consolidated Financial Statements for further information.

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