NEWMONT Corp /DE/
For the period ended Sep 30, 2026. Filed Oct 22, 2026.
View on SEC.govAbout this filing
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, 2026 · Filed Oct 22, 2026
NEM$120.91+1.0%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-06-30; filed 2026-07-23.
0001164727-26-000036
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSOverviewConsolidated Financial ResultsResults of Consolidated OperationsLiquidity and Capital ResourcesEnvironmentalNon-GAAP Financial MeasuresAccounting DevelopmentsSafe Harbor StatementCurrent report: 10-Q
Period ended 2026-09-30; filed 2026-10-22.
0001164727-26-000043
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSOverviewConsolidated Financial ResultsResults of Consolidated OperationsLiquidity and Capital ResourcesEnvironmentalNon-GAAP Financial MeasuresAccounting DevelopmentsSafe Harbor StatementThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 309 previous paragraphs and 312 current paragraphs.
155 unchanged; 102 reworded; 45 added; 42 removed; 10 previous and 10 current paragraphs rearranged.
Tables are not compared: 27 previous and 27 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (45)
Current report
On August 10, 2026, the Company and Barrick Mining Corporation ("Barrick") amended the Nevada Gold Mines ("NGM") joint venture arrangement. Pursuant to the amended agreement, certain previously excluded properties, including Barrick's Fourmile development property and the Company's Fiberline and Mike development properties, are to be contributed to NGM. The Company also agreed to contribute $1.95 billion in cash within 30 days following the contribution of the Fourmile development property. The agreement also includes enhancements to the governance provisions of the NGM joint venture, resolves all outstanding disputes between the Company and Barrick relating to NGM, and provides for the Company's consent to Barrick's proposed initial public offering of certain assets.
Current report
The contribution of the three development properties to NGM is expected in the fourth quarter of 2026, at which time the Company will recognize its 38.5% interest in Fourmile based on the consideration transferred, which will include the cash payment to Barrick and 61.5% of the fair value of Fiberline and Mike. As Fiberline and Mike have no carrying value prior to their contribution, the Company expects to recognize a gain upon completion of the transaction.
Current report
(2)The Company sold 18 thousand tonnes of copper, 21 thousand tonnes of lead, and 67 thousand tonnes of zinc.
Current report
(2)The Company sold 31 thousand tonnes of copper, 27 thousand tonnes of lead, and 68 thousand tonnes of zinc.
Current report
(2)The Company sold 70 thousand tonnes of copper, 66 thousand tonnes of lead, and 165 thousand tonnes of zinc.
Current report
(2)The Company sold 103 thousand tonnes of copper, 71 thousand tonnes of lead, and 197 thousand tonnes of zinc.
Current report
The increase in Costs applicable to sales for the three months ended September 30, 2026, compared to the same period in 2025, is primarily due to (i) Ahafo North reaching commercial production in the fourth quarter of 2025 resulting in classification as a reportable segment; (ii) higher direct costs, largely at Boddington, Lihir, and NGM; and (iii) higher third-party royalties, primarily at NGM, driven by higher average realized gold prices, and Ahafo South, driven by higher average realized gold prices and higher royalty rates, refer to the "Ghanaian Stability Agreement and Royalty" discussion in Item 2, MD&A, above. These increases were partially offset by lower costs at Cadia as a result of the temporary suspension of operations following seismic activity recorded near the operation.
Current report
Tanami, Australia. Gold production decreased 19% primarily due to lower mill throughput and lower ore grade milled. Costs applicable to sales per gold ounce increased 22% primarily due to lower gold ounces sold, higher materials costs, and higher labor costs. Depreciation and amortization per gold ounce increased 30% primarily due to lower gold ounces sold. All-in sustaining costs per gold ounce increased 30% primarily due to higher costs applicable to sales per gold ounce.
Current report
Red Chris, Canada. Gold production decreased 40% primarily due to lower ore grade milled and lower mill recovery, partially offset by higher mill throughput. Gold equivalent ounces - other metals production decreased 59% primarily due to lower other metals produced of 30% as a result of lower ore grade milled, as well as the GEO price change that had an unfavorable impact to the calculated gold equivalent ounces - other metals produced of 29%. Costs applicable to sales per gold ounce increased 73% primarily due to lower gold ounces sold. Costs applicable to sales per gold equivalent ounce – other metals increased 66% primarily due to lower gold equivalent ounces - other metals sold, partially offset by lower allocation of direct costs to gold equivalent ounces - other metals as a result of the GEO price change. Depreciation and amortization per gold ounce and per gold equivalent ounce – other metals increased 111% and 103%, respectively, primarily due to lower gold and gold equivalent ounces - other metals sold, respectively. All-in sustaining costs per gold ounce and per gold equivalent ounce – other metals increased 56% and 61%, respectively, primarily due to lower gold and gold equivalent ounces - other metals sold, respectively.
Current report
Brucejack, Canada. Gold production decreased 9% primarily due to lower ore grade milled, partially offset by higher mill throughput. Costs applicable to sales per gold ounce increased 13% primarily due to lower gold ounces sold, partially offset by a buildup of finished goods inventory compared to a drawdown in the prior year. Depreciation and amortization per gold ounce decreased 14% primarily due to lower depreciation rates as a result of lower underground ounces mined, partially offset by lower gold ounces sold. All-in sustaining costs per gold ounce increased 28% primarily due to higher costs applicable to sales per gold ounce and higher sustaining capital spend.
Current report
Tanami, Australia. Gold production decreased 6% primarily due to lower mill throughput. Costs applicable to sales per gold ounce increased 9% primarily due to lower gold ounces sold and higher third-party royalties. Depreciation and amortization per gold ounce increased 16% primarily due to higher depreciation rates as a result of asset additions and lower gold ounces sold. All-in sustaining costs per gold ounce increased 18% primarily due to higher sustaining capital spend and higher costs applicable to sales per gold ounce.
Current report
14% primarily due to a lower depreciable base as a result of certain assets being fully depreciated in the prior year, partially offset by the impact of the leach pad inventory drawdown and lower gold ounces sold. All-in sustaining costs per gold ounce increased 8% primarily due to higher costs applicable to sales per gold ounce.
Current report
Brucejack, Canada. Gold production increased 8% primarily due to higher mill throughput and a drawdown of in-circuit inventory compared to a buildup in the prior year, partially offset by lower ore grade milled. Costs applicable to sales per gold ounce were generally in line with the prior year. Depreciation and amortization per gold ounce decreased 18% primarily due to higher gold ounces sold and lower mineral interest depreciation rates as a result of additional reserves declared as of December 31, 2025. All-in sustaining costs per gold ounce were generally in line with the prior year.
Current report
The Company is also advancing the Red Chris Block Cave project in British Columbia, Canada. The feasibility study is nearing completion, with a full funds investment decision, subject to Board approval, expected in early 2027.
Current report
As of September 30, 2026, there have been no material changes to the Company’s contractual obligations and other material cash requirements disclosed in its Annual Report on Form 10-K for the year ended December 31, 2025, outside of the ordinary course of business and the Company’s agreement to make a one-time cash payment of $1.95 billion to Barrick Mining Corporation within 30 days following the contribution of certain properties to Nevada Gold Mines. The Company expects to satisfy the payment using available sources of liquidity. Refer to Note 1 to the Condensed Consolidated Financial Statements for additional information.
Current report
(1)Represents revisions to reclamation and remediation plans at the Company's former operating properties and historic mining operations that have entered the closure phase and have no substantive future economic value; included in Reclamation and remediation. Refer to Note 6 to the Condensed Consolidated Financial Statements for further information.
Current report
(10)Primarily consists of activity related to prior divestitures; included in Other income (loss), net. Refer to Note 3 to the Condensed Consolidated Financial Statements for further information on the Company's divestitures completed in 2025.
Current report
(2)Represents revisions to reclamation and remediation plans at the Company's former operating properties and historic mining operations that have entered the closure phase and have no substantive future economic value; included in Reclamation and remediation. Refer to Note 6 to the Condensed Consolidated Financial Statements for further information.
Current report
(10)Primarily consists of activity related to prior divestitures; included in Other income (loss), net. Refer to Note 3 to the Condensed Consolidated Financial Statements for further information on the Company's divestitures completed in 2025.
Current report
(7)Represents revisions to reclamation and remediation plans at the Company's former operating properties and historic mining operations that have entered the closure phase and have no substantive future economic value; included in Reclamation and remediation. Refer to Note 6 to the Condensed Consolidated Financial Statements for further information.
Current report
(11)Primarily consists of activity related to prior divestitures; included in Other income (loss), net. Refer to Note 3 to the Condensed Consolidated Financial Statements for further information on the Company's divestitures completed in 2025.
Current report
(3)Includes stockpile, leach pad, and product inventory adjustments of $(2) at NGM.
Current report
(4)Includes operating accretion of $33, included in Reclamation and remediation, and amortization of asset retirement costs of $25; excludes accretion and reclamation and remediation adjustments at former operating properties that have entered the closure phase and have no substantive future economic value of $42 and $124, respectively, included in Reclamation and remediation.
Current report
(8)Includes finance lease payments and other costs for sustaining projects of $25.
Current report
(14)All-in sustaining costs at Peñasquito is comprised of $236, $18, and $112 for silver, lead, and zinc, respectively.
Current report
(6)Excludes capitalized interest related to sustaining capital expenditures. Refer to Liquidity and Capital Resources within Part I, Item 2, MD&A for capital expenditures by segment.
Current report
(8)Per ounce measures may not recalculate due to rounding.
Current report
(9)Corporate and Other includes the Company's business activities relating to its corporate and regional offices and all equity method investments. Refer to Note 4 to the Condensed Consolidated Financial Statements for further information.
Current report
(12)All-in sustaining costs at Peñasquito is comprised of $116, $38, and $142 for silver, lead, and zinc, respectively.
Current report
(4)Includes operating accretion of $100, included in Reclamation and remediation, and amortization of asset retirement costs of $75; excludes accretion and reclamation and remediation adjustments at former operating properties that have entered the closure phase and have no substantive future economic value of $124 and $134, respectively, included in Reclamation and remediation.
Current report
(5)Excludes development expenditures of $7 at Cadia, $1 at Tanami, $5 at Boddington, $42 at Ahafo South, $1 at Ahafo North, $21 at Merian, $16 at Cerro Negro, $8 at Yanacocha, $12 at Peñasquito, $4 at Red Chris, $23 at NGM, $54 at Corporate and Other, totaling $194 related to developing new operations or major projects at existing operations where these projects will materially benefit the operation.
Current report
(6)Excludes restructuring and severance of $25, impairment charges of $13, and settlement costs of $1 included in Other expense, net.
Current report
(8)Includes finance lease payments and other costs for sustaining projects of $71.
Current report
(13)Cadia sold 40 thousand tonnes of copper, Boddington sold 13 thousand tonnes of copper, Peñasquito sold 27 million ounces of silver, 66 thousand tonnes of lead and 165 thousand tonnes of zinc, and Red Chris sold 17 thousand tonnes of copper.
Current report
(14)All-in sustaining costs at Peñasquito is comprised of $621, $59, and $282 for silver, lead, and zinc, respectively.
Showing the first 40 of 45 passages. Open the source sections for the rest.
Removed paragraphs (42)
Previous report
One of our reportable segments, Nevada Gold Mines ("NGM"), is a joint venture that combined our and Barrick Mining Corporation’s (“Barrick”) respective Nevada operations, pursuant to the operating agreement entered into on July 1, 2019 between Barrick, Newmont and their wholly-owned subsidiaries party thereto (the “Nevada JV Agreement”). Barrick operates NGM with overall management responsibility and is subject to the supervision and direction of NGM’s Board of Managers, which is comprised of three managers appointed by Barrick and two managers appointed by Newmont. On January 26, 2026, we informed Barrick and the NGM Board of Managers that we had identified evidence of mismanagement at NGM, including diversion of resources from NGM to the benefit of Barrick’s wholly-owned property Fourmile and Barrick, and that we were exercising our contractual inspection and audit rights. On February 3, 2026, we sent Barrick a notice of default under the Nevada JV Agreement related to this conduct. Although we continue to work with Barrick to improve the performance of NGM and will take appropriate steps to address this matter, any such disagreements could have a material adverse effect on NGM and the Company. Refer to Part I, Item 1A, Risk Factors, of our Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 19, 2026 for a discussion of risk factors related to our joint ventures.
Previous report
(2)The Company sold 22 thousand tonnes of copper, 17 thousand tonnes of lead, and 40 thousand tonnes of zinc.
Previous report
(2)The Company sold 37 thousand tonnes of copper, 23 thousand tonnes of lead, and 56 thousand tonnes of zinc.
Previous report
(2)The Company sold 52 thousand tonnes of copper, 45 thousand tonnes of lead, and 98 thousand tonnes of zinc.
Previous report
(2)The Company sold 72 thousand tonnes of copper, 44 thousand tonnes of lead, and 129 thousand tonnes of zinc.
Previous report
The decrease in Costs applicable to sales for the six months ended June 30, 2026, compared to the same period in 2025, is primarily due to the impact from the divested sites, which resulted in a decrease of $312.
Previous report
The decrease in Depreciation and amortization for the three months ended June 30, 2026, compared to the same period in 2025, is primarily due to lower production at Peñasquito; partially offset by higher depreciation rates at NGM as a result of a drawdown of inventory in the current year at Carlin compared to a buildup in the prior year and the commencement of depreciation at Ahafo North after reaching commercial production in the fourth quarter of 2025.
Previous report
The increase in Depreciation and amortization for the six months ended June 30, 2026, compared to the same period in 2025, is primarily due higher depreciation rates in the current year at NGM as a result of higher gold ounces mined at Carlin and the commencement of depreciation at Ahafo North after reaching commercial production in the fourth quarter of 2025; partially offset by lower production at Peñasquito.
Previous report
Tanami, Australia. Gold production was generally in line with the prior year. Costs applicable to sales per gold ounce were generally in line with the prior year. Depreciation and amortization per gold ounce increased 14% primarily due to higher depreciation rates as a result of asset additions. All-in sustaining costs per gold ounce increased 20% primarily due to higher sustaining capital spend.
Previous report
Brucejack, Canada. Gold production increased 6% primarily due higher mill throughput. Costs applicable to sales per gold ounce decreased 11% primarily due to higher gold ounces sold and higher by-product credits. Depreciation and amortization per gold ounce decreased 17% primarily due to higher gold ounces sold. All-in sustaining costs per gold ounce decreased 13% primarily due to lower costs applicable to sales per gold ounce and lower sustaining capital spend.
Previous report
Tanami, Australia. Gold production was generally in line with the prior year. Costs applicable to sales per gold ounce were generally in line with the prior year. Depreciation and amortization per gold ounce increased 9% primarily due to higher depreciation rates as a result of asset additions. All-in sustaining costs per gold ounce increased 14% primarily due to higher sustaining capital spend.
Previous report
Red Chris, Canada. Gold production decreased 21% primarily due to lower ore grade milled and lower mill throughput, partially offset by higher mill recovery. Gold equivalent ounces - other metals production decreased 52% primarily due to the GEO price change that had an unfavorable impact to the calculated gold equivalent ounces - other metals produced of 31%, as well as lower other metals produced of 21% as a result of lower ore grade milled and lower mill throughput. Costs applicable to sales per gold ounce increased 26% primarily due to lower gold ounces sold and higher allocation of direct costs to gold as a result of the GEO pricing change. Costs applicable to sales per gold equivalent ounce – other metals sold increased 34% primarily due to lower gold equivalent ounces - other metals sold, partially offset by lower allocation of direct costs to gold equivalent ounces - other metals as a result of the GEO price change. Depreciation and amortization per gold ounce increased 85% primarily due to higher depreciation as a result of lower gold ounces sold and higher allocation of costs to gold as a result of the GEO price change. Depreciation and amortization per gold equivalent ounce – other metals increased 93% primarily due to lower gold equivalent ounces - other metals sold. All-in sustaining costs per gold ounce increased 31% primarily due to higher costs applicable to sales per gold ounce. All-in sustaining costs per gold equivalent ounce – other metals increased 31% primarily due to higher costs applicable to sales per gold equivalent ounce - other metals, partially offset by lower sustaining capital spend and lower treatment and refining costs.
Previous report
Brucejack, Canada. Gold production increased 23% primarily due to a drawdown of in-circuit inventory compared to a buildup in the prior year, higher ore grade milled, and higher mill throughput. Costs applicable to sales per gold ounce decreased 7% primarily due to higher gold ounces sold and higher by-product credits. Depreciation and amortization per gold ounce decreased 23% primarily due to higher gold ounces sold. All-in sustaining costs per gold ounce decreased 10% primarily due to lower costs applicable to sales per gold ounce and lower sustaining capital spend.
Previous report
Pueblo Viejo, Dominican Republic. Attributable gold production increased 14% primarily due to higher mill throughput and higher drawdown of in-circuit inventory, partially offset by lower mill recovery. Refer to Note 12 to the Condensed Consolidated Financial Statements for further discussion of our equity method investments.
Previous report
Development capital costs (excluding capitalized interest and capitalized depreciation and amortization) on our near-term capital projects of Tanami Expansion 2, Cadia Panel Caves, Lihir Nearshore Barrier, and the Cerro Negro expansion projects since approval were $1,427, $625, $27, and $137, respectively, of which $123, $109, $27, and $28 related to the six months ended June 30, 2026, respectively.
Previous report
As of June 30, 2026, there have been no material changes, outside the ordinary course of business, in our contractual obligations since December 31, 2025. Refer to Part II, Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 19, 2026, for information regarding our contractual obligations.
Previous report
(1)Primarily consists of the unrealized gains and losses related to the Company's marketable equity and other securities; included in Other income (loss), net.
Previous report
(3)Consists of non-cash write-downs of various assets that are no longer in use and materials and supplies inventories; included in Other expense, net.
Previous report
(9)Primarily consists of post-divestiture activity and costs incurred related to transition service agreements for divested reportable segments; included in Other income (loss), net. Refer to Note 3 to the Condensed Consolidated Financial Statements for further information on the Company's divestitures.
Previous report
(4)Consists of non-cash write-downs of various assets that are no longer in use and materials and supplies inventories; included in Other expense, net.
Previous report
(9)Primarily consists of post-divestiture activity; included in Other income (loss), net. Refer to Note 3 to the Condensed Consolidated Financial Statements for further information on the Company's divestitures.
Previous report
(9)Primarily consists of amounts incurred related to non-recurring contractual obligations arising outside the ordinary course of business; included in Other expense, net.
Previous report
(4)Includes operating accretion of $34, included in Reclamation and remediation, and amortization of asset retirement costs of $23; excludes accretion and reclamation and remediation adjustments at former operating properties that have entered the closure phase and have no substantive future economic value of $41 and $6, respectively, included in Reclamation and remediation.
Previous report
(5)Excludes development expenditures of $2 at Cadia, $2 at Boddington, $14 at Ahafo South, $8 at Merian, $6 at Cerro Negro, $2 at Yanacocha, $4 at Peñasquito, $1 at Red Chris, $8 at NGM, $21 at Corporate and Other, totaling $68 related to developing new operations or major projects at existing operations where these projects will materially benefit the operation.
Previous report
(8)Includes finance lease payments and other costs for sustaining projects of $24.
Previous report
(14)All-in sustaining costs at Peñasquito is comprised of $197, $20, and $82 for silver, lead, and zinc, respectively.
Previous report
(3)Includes stockpile, leach pad, and product inventory adjustments of $10 at NGM.
Previous report
(10)Corporate and Other includes the Company's business activities relating to its corporate and regional offices and all equity method investments. Refer to Note 4 to the Condensed Consolidated Financial Statements for further information.
Previous report
(14)All-in sustaining costs at Peñasquito is comprised of $76, $26, and $94 for silver, lead, and zinc, respectively.
Previous report
(4)Includes operating accretion of $67, included in Reclamation and remediation, and amortization of asset retirement costs of $50; excludes accretion and reclamation and remediation adjustments at former operating properties that have entered the closure phase and have no substantive future economic value of $82 and $10, respectively, included in Reclamation and remediation.
Previous report
(5)Excludes development expenditures of $6 at Cadia, $3 at Boddington, $22 at Ahafo South, $1 at Ahafo North, $13 at Merian, $10 at Cerro Negro, $4 at Yanacocha, $7 at Peñasquito, $2 at Red Chris, $13 at NGM, $37 at Corporate and Other, totaling $118 related to developing new operations or major projects at existing operations where these projects will materially benefit the operation.
Previous report
(6)Excludes restructuring and severance of $18 and impairment charges of $11 included in Other expense, net.
Previous report
(8)Includes finance lease payments and other costs for sustaining projects of $46.
Previous report
(13)Cadia sold 32 thousand tonnes of copper, Boddington sold 8 thousand tonnes of copper, Peñasquito sold 16 million ounces of silver, 45 thousand tonnes of lead and 98 thousand tonnes of zinc, and Red Chris sold 12 thousand tonnes of copper.
Previous report
(14)All-in sustaining costs at Peñasquito is comprised of $385, $41, and $170 for silver, lead, and zinc, respectively.
Previous report
(4)Includes operating accretion of $66, included in Reclamation and remediation, and amortization of asset retirement costs of $47; excludes accretion and reclamation and remediation adjustments at former operating properties that have entered the closure phase and have no substantive future economic value of $101 and $9, respectively, included in Reclamation and remediation.
Showing the first 40 of 42 passages. Open the source sections for the rest.
Reworded paragraphs (102)
Previous wording
This item should be read in conjunction with our interim unaudited Condensed Consolidated Financial Statements and the notes thereto included in this quarterly report. Additionally, the following discussion and analysis should be read in conjunction with Management’s Discussion and Analysis of Consolidated Financial Condition and Results of Operations and the Consolidated Financial Statements included in Part II, Item 7, of our Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC on February 19, 2026.
Current wording
This item should be read in conjunction with our interim unaudited Condensed Consolidated Financial Statements and the notes thereto included in this quarterly report. Additionally, the following discussion and analysis should be read in conjunction with Management’s Discussion and Analysis of Consolidated Financial Condition and Results of Operations and the Consolidated Financial Statements included in Part II, Item 7, of our Annual Report on Form 10-K for the year ended December 31, 2025.
Previous wording
The Company completed the sale of certain non-core assets which included the Telfer reportable segment in the fourth quarter of 2024, the sale of the CC&V, Musselwhite, and Éléonore reportable segments in the first quarter of 2025, the sale of the Porcupine and Akyem reportable segments in the second quarter of 2025, and the sale of the Coffee development project in the fourth quarter of 2025. Prior to completion of the sale, the non-core assets were presented as held for sale and recorded at the lower of their carrying value or fair value, less costs to sell. These assets were periodically revalued until sale occurred 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 were recognized in(Gain) loss on sale of assets held for sale. At December 31, 2025, no assets remained held for sale. Refer to Note 3 to the Condensed Consolidated Financial Statements for further information on divestitures.
Current wording
The Company completed the sale of certain non-core assets which included the Telfer reportable segment in the fourth quarter of 2024, the sale of the CC&V, Musselwhite, and Éléonore reportable segments in the first quarter of 2025, the sale of the Porcupine and Akyem reportable segments in the second quarter of 2025, and the sale of the Coffee development project in the fourth quarter of 2025. Prior to completion of the sale, the non-core assets were presented as held for sale and recorded at the lower of their carrying value or fair value, less costs to sell. At December 31, 2025, no assets remained held for sale. Refer to Note 3 to the Condensed Consolidated Financial Statements for further information on divestitures.
Previous wording
The Government of Ghana is also entitled to a 10% free carried interest in the rights and obligations of the mineral operations by receiving 1/9th of the total amount paid as dividends to Newmont parent. When the average quoted gold price exceeds $1,300 per ounce within a calendar year, an advance payment on these amounts of 0.6% of total revenues is required. Upon the expiration of the tax stability regime on December 31, 2025, dividends paid became subject to an 8% withholding tax.
Current wording
The Government of Ghana is also entitled to a 10% free carried interest in the rights and obligations of the mineral operations by receiving 1/9th of the total amount paid as dividends to the Newmont parent. When the average quoted gold price exceeds $1,300 per ounce within a calendar year, an advance payment on these amounts of 0.6% of total revenues is required. Upon the expiration of the tax stability regime on December 31, 2025, dividends paid became subject to an 8% withholding tax.
Previous wording
Comparability of Net income (loss) attributable to Newmont stockholders for the three and six months ended June 30, 2026, to the same periods in 2025, was affected by the following notable events: (i) Ahafo North achieved commercial production in the fourth quarter of 2025 and was designated as a reportable segment; (ii) our divestment program was completed in 2025; (iii) operations at Cadia were temporarily suspended following seismic activity recorded near the operation on April 14, 2026, refer to Note 7 to the Condensed Consolidated Financial Statements for further information.
Current wording
Comparability of Net income (loss) attributable to Newmont stockholders for the three and nine months ended September 30, 2026, to the same periods in 2025, was affected by the following notable events: (i) Ahafo North achieved commercial production in the fourth quarter of 2025 and was designated as a reportable segment; (ii) our divestment program was completed in 2025; and (iii) operations at Cadia were temporarily suspended following seismic activity recorded near the operation on April 14, 2026, refer to Note 7 to the Condensed Consolidated Financial Statements for further information.
Previous wording
Excluding the impacts of the events noted above, Net income (loss) attributable to Newmont stockholders increased for the three months ended June 30, 2026, compared to the same period in 2025, primarily due to a net increase in Sales, largely reflecting higher average realized gold prices partially offset by lower sales volumes. This increase was partially offset by unrealized losses on marketable equity securities recognized in 2026, compared to unrealized gains in 2025, recognized within Other income (loss), net.
Current wording
Excluding the impacts of the events noted above, Net income (loss) attributable to Newmont stockholders increased for the three months ended September 30, 2026, compared to the same period in 2025, primarily due to a net increase in Sales, largely reflecting higher average realized gold and silver prices partially offset by lower sales volumes for gold. This increase was partially offset by an increase in Costs applicable to sales.
Previous wording
Excluding the impacts of events noted above, Net income (loss) attributable to Newmont stockholders increased for the six months ended June 30, 2026, compared to the same period in 2025, primarily due to a net increase in Sales, largely reflecting higher average realized gold and silver prices partially offset lower sales volumes for gold. This increase was partially offset by higher Income and mining tax benefit (expense)and by unrealized losses on marketable equity securities recognized in 2026, compared to unrealized gains in 2025, recognized within Other income (loss), net.
Current wording
Excluding the impacts of events noted above, Net income (loss) attributable to Newmont stockholders increased for the nine months ended September 30, 2026, compared to the same period in 2025, primarily due to a net increase in Sales, largely reflecting higher average realized gold and silver prices partially offset by lower sales volumes for gold, and increased Equity income (loss) of affiliates. These increases were partially offset by higher Income and mining tax benefit (expense)and unrealized losses on marketable equity securities in 2026, compared to unrealized gains in 2025, recognized within Other income (loss), net.
Previous wording
(1)Included in the change in consolidated Sales is the impact relating to the divested sites which resulted in a decrease for the three and six months ended June 30, 2026 compared to the same periods in 2025, of $50 and $628, respectively.
Current wording
(1)Included in the change in consolidated Sales is the impact relating to the divested sites which resulted in a decrease for the nine months ended September 30, 2026, compared to the same period in 2025, of $628.
Previous wording
Excluding the impact of divestitures, Costs applicable to sales increased for the six months ended June 30, 2026, compared to the same period in 2025, primarily due to (i) Ahafo North reaching commercial production in the fourth quarter of 2025 resulting in classification as a reportable segment, (ii) higher direct costs largely at Boddington, and (iii) higher third-party royalties at most sites and higher worker's participation costs, both resulting from higher average realized gold prices. These increases were partially offset by an increase in by-product credits, primarily related to the increase in silver sales.
Current wording
The increase in Costs applicable to sales for the nine months ended September 30, 2026, compared to the same period in 2025, is primarily due to (i) Ahafo North reaching commercial production in the fourth quarter of 2025 resulting in classification as a reportable segment; (ii) higher direct costs, largely at Boddington and NGM; and (iii) higher third-party royalties at most sites and higher workers' participation costs, both driven by higher average realized gold prices. These increases were partially offset by (i) the impact of the divested sites, which reduced costs by $312; (ii) higher by-product credits, primarily due to increased silver sales; and (iii) lower costs at Cadia as a result of the temporary suspension of operations following seismic activity recorded near the operation.
Previous wording
Costs applicable to sales for the three months ended June 30, 2026 was generally in line with the same period in 2025.
Current wording
Depreciation and amortization for the three and nine months ended September 30, 2026, was generally in line with the same periods in 2025.
Previous wording
General and administrative was $74 and $95 during the three months ended June 30, 2026 and 2025, respectively, and $153 and $205 during the six months ended June 30, 2026 and 2025, respectively. The decrease during the three and six months ended June 30, 2026, compared to the same periods in 2025, is primarily due to lower consulting and labor costs.
Current wording
General and administrative was $82 and $86 during the three months ended September 30, 2026 and 2025, respectively, and $235 and $291 during the nine months ended September 30, 2026 and 2025, respectively. The decrease during the three and nine months ended September 30, 2026, compared to the same periods in 2025, is primarily due to lower consulting and labor costs.
Previous wording
Interest expense, net of capitalized interestwas $35 and $65 during the three months ended June 30, 2026 and 2025, respectively, and $74 and $144 during the six months ended June 30, 2026 and 2025, respectively. The decrease during the three and six months ended June 30, 2026, compared to the same periods in 2025, is primarily due to the reduction in Debt and an increase in capitalized interest. Refer to Note 15 to the Condensed Consolidated Financial Statements for further information.
Current wording
Interest expense, net of capitalized interestwas $31 and $52 during the three months ended September 30, 2026 and 2025, respectively, and $105 and $196 during the nine months ended September 30, 2026 and 2025, respectively. The decrease during the three and nine months ended September 30, 2026, compared to the same periods in 2025, is primarily due to the reduction in Debt and an increase in capitalized interest. Refer to Note 15 to the Condensed Consolidated Financial Statements for further information.
Previous wording
Income and mining tax expense (benefit) was $952 and $1,092 during the three months ended June 30, 2026 and 2025, respectively, and $2,356 and $1,739 during the six months ended June 30, 2026 and 2025, respectively. The effective tax rate is driven by a number of factors and the comparability of our income tax expense for the reported periods will be primarily affected by (i) variations in our income before income taxes; (ii) geographic distribution of that income; (iii) impacts of the changes in tax law; (iv) valuation allowances on tax assets; (v) percentage depletion; (vi) fluctuation in the value of the USD and foreign currencies; and (vii) the impact of specific transactions and assessments. As a result, the effective tax rate will fluctuate, sometimes significantly, year to year. This trend is expected to continue in future periods. Refer to Note 9 to the Condensed Consolidated Financial Statements for further discussion of income taxes.
Current wording
Income and mining tax expense (benefit) was $839 and $787 during the three months ended September 30, 2026 and 2025, respectively, and $3,195 and $2,526 during the nine months ended September 30, 2026 and 2025, respectively. The effective tax rate is driven by a number of factors and the comparability of our income tax expense for the reported periods will be primarily affected by (i) variations in our income before income taxes; (ii) geographic distribution of that income; (iii) impacts of the changes in tax law; (iv) valuation allowances on tax assets; (v) percentage depletion; (vi) fluctuation in the value of the USD and foreign currencies; and (vii) the impact of specific transactions and assessments. As a result, the effective tax rate will fluctuate, sometimes significantly, year to year. This trend is expected to continue in future periods. Refer to Note 9 to the Condensed Consolidated Financial Statements for further discussion of income taxes.
Previous wording
(3)Includes impact of increase in corporate tax rate from 32.5% to 35% effective January 1, 2026. For more details, refer to the "Ghanaian Stability Agreement and Royalty" discussion in Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations above.
Current wording
(2)Includes impact of increase in corporate tax rate from 32.5% to 35% effective January 1, 2026. For more details, refer to the "Ghanaian Stability Agreement and Royalty" discussion in Item 2 above.
Previous wording
(4)In accordance with applicable accounting rules, the interim provision for income taxes is adjusted to equal the consolidated tax rate.
Current wording
(3)In accordance with applicable accounting rules, the interim provision for income taxes is adjusted to equal the consolidated tax rate.
Previous wording
(5)The consolidated effective income tax rate is a function of the combined effective tax rates for the jurisdictions in which we operate. Variations in the relative proportions of jurisdictional income could result in fluctuations to our combined effective income tax rate.
Current wording
(4)The consolidated effective income tax rate is a function of the combined effective tax rates for the jurisdictions in which we operate. Variations in the relative proportions of jurisdictional income could result in fluctuations to our combined effective income tax rate.
Previous wording
(3)Includes impact of increase in corporate tax rate from 32.5% to 35% effective January 1, 2026. For more details, refer to the "Ghanaian Stability Agreement and Royalty" discussion in Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations above.
Current wording
(3)Includes impact of increase in corporate tax rate from 32.5% to 35% effective January 1, 2026. For more details, refer to the "Ghanaian Stability Agreement and Royalty" discussion in Item 2 above.
Previous wording
(1)Effective January 1, 2026, the Company updated the metal prices utilized for the GEO calculation ("GEO price change"). The update to GEO pricing will have an impact on the calculated gold equivalent ounces and will result in an impact to costs allocated to the respective GEOs, particularly resulting in higher costs allocated to gold. Utilizing the updated 2026 pricing resulted in 72 thousand and 190 thousand fewer calculated "gold equivalent ounces - other metals" produced for the three and six months ended June 30, 2026, respectively and 78 thousand and 192 thousand fewer calculated "gold equivalent ounces - other metals" sold, respectively, than would have been calculated using the 2025 pricing.
Current wording
(1)Effective January 1, 2026, the Company updated the metal prices utilized for the GEO calculation ("GEO price change"). The update to GEO pricing will have an impact on the calculated gold equivalent ounces and will result in an impact to costs allocated to the respective GEOs, particularly resulting in higher costs allocated to gold. Utilizing the updated 2026 pricing resulted in 102 thousand and 292 thousand fewer calculated "gold equivalent ounces - other metals" produced for the three and nine months ended September 30, 2026, respectively and 96 thousand and 288 thousand fewer calculated "gold equivalent ounces - other metals" sold, respectively, than would have been calculated using the 2025 pricing.
Previous wording
(3)On April 14, 2026, seismic activity was recorded near the Cadia operation in New South Wales, Australia, resulting in the temporary suspension of underground mining activities (the "Cadia seismic event"). Surface operations and processing of existing stockpiles continued following the event until May 11, 2026 when stockpile inventories were substantially depleted. Underground mining and processing resumed in mid-June on a progressive ramp-up, with production expected to return to pre-event levels in the third quarter of 2026. Production and cost metrics were impacted by the operational stoppage. Incremental and non-productive direct operating costs incurred during the temporary suspension of underground mining activities have been recorded in Other expense, net. For additional information on seismic activity risk, refer to the Company's Form 10-K for the fiscal year ended December 31, 2025, as filed with the SEC on February 19, 2026, under Part I, Business; Item 1A, Risk Factors, including "Our Company and the mining industry are facing continued geotechnical, geothermal, and hydrogeological challenges, which could adversely impact our production and profitability."
Current wording
(3)In April 2026, seismic activity was recorded near the Cadia operation in New South Wales, Australia, resulting in the temporary suspension of underground mining activities (the "Cadia seismic event"). Surface operations and processing of existing stockpiles continued following the event until mid-May 2026 when stockpile inventories were substantially depleted. Underground mining and processing resumed in mid-June on a progressive ramp-up, with production returning to pre-event levels in the third quarter of 2026. Production and cost metrics were impacted by the operational stoppage. Incremental and non-productive direct operating costs incurred during the temporary suspension of underground mining activities have been recorded in Other expense, net. For additional information on seismic activity risk, refer to the Company's Form 10-K for the fiscal year ended December 31, 2025 under Part I, Business; Item 1A, Risk Factors, including "Our Company and the mining industry are facing continued geotechnical, geothermal, and hydrogeological challenges, which could adversely impact our production and profitability."
Previous wording
(6)All-in sustaining costs and Depreciation and amortization include expenses for Corporate and Other.
Current wording
(5)All-in sustaining costs and Depreciation and amortization include expenses for Corporate and Other.
Previous wording
(7)For the three months ended June 30, 2026 and 2025, Cadia produced 16 million and 50 million pounds of copper, respectively.
Current wording
(6)For the three months ended September 30, 2026 and 2025, Cadia produced 28 million and 46 million pounds of copper, respectively.
Previous wording
(8)For the three months ended June 30, 2026 and 2025, Boddington produced 11 million and 17 million pounds of copper, respectively.
Current wording
(7)For the three months ended September 30, 2026 and 2025, Boddington produced 10 million and 12 million pounds of copper, respectively.
Previous wording
(9)For the three months ended June 30, 2026, Peñasquito produced 7 million ounces of silver, 39 million pounds of lead and 88 million pounds of zinc. For the three months ended June 30, 2025, Peñasquito produced 8 million ounces of silver, 59 million pounds of lead and 147 million pounds of zinc.
Current wording
(8)For the three months ended September 30, 2026, Peñasquito produced 11 million ounces of silver, 49 million pounds of lead and 147 million pounds of zinc. For the three months ended September 30, 2025, Peñasquito produced 7 million ounces of silver, 57 million pounds of lead and 129 million pounds of zinc.
Previous wording
(10)For the three months ended June 30, 2026 and 2025, Red Chris produced 12 million and 16 million pounds of copper, respectively.
Current wording
(9)For the three months ended September 30, 2026 and 2025, Red Chris produced 10 million and 14 million pounds of copper, respectively.
Previous wording
(11)Income and expenses of equity method investments are included in Equity income (loss) of affiliates. Refer to Note 12 to the Condensed Consolidated Financial Statements for further discussion of our equity method investments.
Current wording
(10)Income and expenses of equity method investments are included in Equity income (loss) of affiliates. Refer to Note 12 to the Condensed Consolidated Financial Statements for further discussion of our equity method investments.
Previous wording
(12)The Fruta del Norte mine is wholly owned and operated by Lundin Gold Inc. ("Lundin Gold"), in which Newmont holds a 32% interest, and is accounted for as an equity method investment on a quarter lag.
Current wording
(11)The Fruta del Norte mine is wholly owned and operated by Lundin Gold Inc. ("Lundin Gold"), in which Newmont holds a 32% interest, and is accounted for as an equity method investment on a quarter lag.
Previous wording
(8)For the six months ended June 30, 2026 and 2025, Cadia produced 63 million and 96 million pounds of copper, respectively.
Current wording
(8)For the nine months ended September 30, 2026 and 2025, Cadia produced 91 million and 142 million pounds of copper, respectively.
Previous wording
(9)For the six months ended June 30, 2026 and 2025, Boddington produced 18 million and 31 million pounds of copper, respectively.
Current wording
(9)For the nine months ended September 30, 2026 and 2025, Boddington produced 28 million and 43 million pounds of copper, respectively.
Previous wording
(10)For the six months ended June 30, 2026, Peñasquito produced 16 million ounces of silver, 99 million pounds of lead and 226 million pounds of zinc. For the six months ended June 30, 2025, Peñasquito produced 14 million ounces of silver, 108 million pounds of lead and 278 million pounds of zinc.
Current wording
(10)For the nine months ended September 30, 2026, Peñasquito produced 27 million ounces of silver, 148 million pounds of lead and 373 million pounds of zinc. For the nine months ended September 30, 2025, Peñasquito produced 21 million ounces of silver, 165 million pounds of lead and 407 million pounds of zinc.
Previous wording
(11)For the six months ended June 30, 2026 and 2025, Red Chris produced 25 million and 32 million pounds of copper, respectively.
Current wording
(11)For the nine months ended September 30, 2026 and 2025, Red Chris produced 35 million and 46 million pounds of copper, respectively.
Previous wording
Lihir, Papua New Guinea. Gold production was generally in line with the prior year. Costs applicable to sales per gold ounce increased 14% primarily due to lower gold ounces sold and higher inventory costs per unit from ore processed from stockpiles. Depreciation and amortization per gold ounce were generally in line with the prior year. All-in sustaining costs per gold ounce increased 9% primarily due to higher costs applicable to sales per gold ounce, partially offset by lower sustaining capital spend.
Current wording
Lihir, Papua New Guinea. Gold production was generally in line with the prior year. Costs applicable to sales per gold ounce increased 13% primarily due to higher inventory costs per unit from ore processed from stockpiles, higher contracted services costs, higher energy costs, and higher government royalties, partially offset by higher gold ounces sold. Depreciation and amortization per gold ounce decreased 11% primarily due to higher gold ounces sold. All-in sustaining costs per gold ounce increased 6% primarily due to higher costs applicable to sales per gold ounce, partially offset by lower sustaining capital spend.
Previous wording
Cadia, Australia. Gold and gold equivalent ounces - other metals production decreased 38% and 60%, respectively, primarily as a result of the Cadia seismic event. Gold equivalent ounces - other metals production was further impacted by the change in GEO pricing, noted above, that had an unfavorable impact to the calculated gold equivalent ounces - other metals produced of 26%. Costs applicable to sales per gold ounce and per gold equivalent ounce - other metals increased 52% and 61%, respectively, primarily due to lower gold and gold equivalent ounces - other metals sold and inventory write-downs in the current year, both as a result of the Cadia seismic event, partially offset by higher by-product credits. Depreciation and amortization per gold ounce and per gold equivalent ounce - other metals increased 60% and 59%, respectively, primarily due to lower gold and gold equivalent ounces - other metals sold as a result of the Cadia seismic event. All-in sustaining costs per gold ounce and per gold equivalent ounce - other metals increased 87% and 97%, respectively, primarily due to higher costs applicable to sales per gold and gold equivalent ounce - other metals and higher sustaining capital spend.
Current wording
Cadia, Australia. Gold and gold equivalent ounces - other metals production decreased 37% and 64%, respectively, primarily as a result of continuing impacts in the third quarter from the Cadia seismic event earlier in the year. Gold equivalent ounces - other metals production was further impacted by the GEO price change that had an unfavorable impact to the calculated gold equivalent ounces - other metals produced of 25%. Costs applicable to sales per gold ounce and per gold equivalent ounce – other metals increased 86% and 99%, respectively, primarily due to lower gold and gold equivalent ounces - other metals sold, as a result of continuing impacts in the third quarter from the Cadia seismic event. Depreciation and amortization per gold ounce and per gold equivalent ounce - other metals increased 115% and 116%, respectively, primarily due to lower gold and gold equivalent ounces - other metals sold as a result of continuing impacts in the third quarter from the Cadia seismic event. All-in sustaining costs per gold ounce and per gold equivalent ounce - other metals increased 185% and 201%, respectively, primarily due to higher costs applicable to sales per gold and gold equivalent ounce - other metals and higher sustaining capital spend.
Previous wording
Boddington, Australia. Gold production increased 9% primarily due to higher ore grade milled, partially offset by lower mill throughput. Gold equivalent ounces – other metals production decreased 59% primarily due to lower other metals produced of 34% as a result of lower ore grade milled and lower mill throughput, as well as the GEO price change that had an unfavorable impact to the calculated gold equivalent ounces - other metals produced of 25%. Costs applicable to sales per gold ounce increased 6% primarily due to higher contracted services costs, higher energy costs, and higher government royalties, partially offset by higher gold ounces sold. Costs applicable to salesper gold equivalent ounce – other metals increased 21% primarily due to lower gold equivalent ounces - other metals sold, higher contracted services costs, higher energy costs, and higher government royalties. Depreciation and amortization per gold ounce increased 10% primarily due to higher depreciation rates as a result of asset additions, partially offset by higher gold ounces sold. Depreciation and amortization per gold equivalent ounce – other metals increased 12% primarily due to higher depreciation rates as a result of asset additions and lower gold equivalent ounces - other metals sold. All-in sustaining costs per gold ounce increased 14% primarily due to higher sustaining capital spend and higher costs applicable to sales per gold ounce. All-in sustaining costs per gold equivalent ounce – other metals increased 22% primarily due to higher costs applicable to sales per gold equivalent ounce - other metals and higher sustaining capital spend.
Current wording
Boddington, Australia. Gold production was generally in line with the prior year. Gold equivalent ounces – other metals production decreased 48% primarily due to the GEO price change that had an unfavorable impact to the calculated gold equivalent ounces - other metals produced of 32%, as well as lower other metals produced of 16% as a result of lower ore grade milled and lower mill throughput. Costs applicable to sales per gold ounce were generally in line with the prior year. Costs applicable to salesper gold equivalent ounce – other metals increased 21% primarily due to lower gold equivalent ounces - other metals sold. Depreciation and amortization per gold ounce was generally in line with the prior year. Depreciation and amortization per gold equivalent ounce – other metals increased 14% primarily due to lower gold equivalent ounces - other metals sold. All-in sustaining costs per gold ounce were generally in line with the prior year. All-in sustaining costs per gold equivalent ounce – other metals increased 20% primarily due to higher costs applicable to sales per gold equivalent ounce - other metals.
Previous wording
Ahafo South, Ghana. Gold production decreased 49% primarily due to lower ore grade milled and lower mill throughput. Costs applicable to sales per gold ounce increased 114% primarily due to lower gold ounces sold, higher government royalties, and higher energy costs, partially offset by a buildup of stockpile inventory compared to a draw down in the prior year. Depreciation and amortization per gold ounce increased 58% primarily due to lower gold ounces sold, partially offset by a buildup of inventory in the current year compared to a drawdown in the prior year and lower depreciation rates as a result of lower gold ounces mined. All-in sustaining costs per gold ounce increased 113% primarily due to higher costs applicable to sales per gold ounce. On December 31, 2025, the Revised Investment Agreement, under which Newmont previously operated in Ghana, expired. Additionally, during the first quarter of 2026, the Parliament of Ghana made certain changes to its' royalty regime. For more details, refer to the "Ghanaian Stability Agreement and Royalty" discussion in Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations above. The revised framework could result in higher operating costs at our Ghanaian operations, particularly in periods of higher gold prices.
Current wording
Ahafo South, Ghana. Gold production decreased 28% primarily due to lower ore grade milled, partially offset by higher mill throughput. Costs applicable to sales per gold ounce increased 45% primarily due to lower gold ounces sold, a drawdown of stockpile inventory compared to a buildup in the prior year, higher government royalties, and higher energy costs. Depreciation and amortization per gold ounce increased 26% primarily due to lower gold ounces sold. All-in sustaining costs per gold ounce increased 47% primarily due to higher costs applicable to sales per gold ounce and higher sustaining capital spend. On December 31, 2025, the Revised Investment Agreement, under which Newmont previously operated in Ghana, expired. Additionally, during the first quarter of 2026, the
Previous wording
Merian, Suriname. Gold production increased 40% primarily due to higher ore grade milled. Costs applicable to sales per gold ounce decreased 22% primarily due to higher gold ounces sold and a buildup of stockpile inventory compared to a drawdown in the prior year, partially offset by higher government royalties, higher energy costs and higher materials costs. Depreciation and amortization per gold ounce decreased 25% primarily due to higher gold ounces sold. All-in sustaining costs per gold ounce decreased 14% primarily due to lower costs applicable to sales per gold ounce, partially offset by higher sustaining capital spend.
Current wording
Merian, Suriname. Gold production increased 40% primarily due to higher ore grade milled and a drawdown of in-circuit inventory compared to a buildup in the prior year, partially offset by lower mill throughput. Costs applicable to sales per gold ounce decreased 9% primarily due to higher gold ounces sold, partially offset by higher government royalties, lower buildup of stockpile inventory compared to the prior year, and higher energy costs. Depreciation and amortization per gold ounce decreased 29% primarily due to higher gold ounces sold. All-in sustaining costs per gold ounce decreased 12% primarily due to lower costs applicable to sales per gold ounce, partially offset by higher sustaining capital spend.
Previous wording
Cerro Negro, Argentina. Gold production increased 17% primarily due to higher mill throughput, partially offset by lower ore grade milled. Costs applicable to sales per gold ounce decreased 26% primarily due to higher by-product credits and higher gold ounces sold, partially offset by a drawdown of stockpile inventory compared to a buildup in the prior year, higher government royalties, higher labor costs, and higher contracted services costs. Depreciation and amortization per gold ounce decreased 19% primarily due to higher gold ounces sold. All-in sustaining costs per gold ounce decreased 23% primarily due to lower costs applicable to sales per gold ounce.
Current wording
Cerro Negro, Argentina. Gold production decreased 19% primarily due to lower mill throughput and higher buildup of in-circuit inventory. Costs applicable to sales per gold ounce increased 13% primarily due to lower gold ounces sold. Depreciation and amortization per gold ounce was generally in line with the prior year. All-in sustaining costs per gold ounce increased 18% primarily due to higher costs applicable to sales per gold ounce.
Previous wording
Yanacocha, Peru. Gold production increased 15% primarily due to higher leach pad production as a result of injection leaching. Costs applicable to sales per gold ounce increased 11% primarily due to higher workers participation costs and higher third-party royalties, partially offset by higher gold ounces sold. Depreciation and amortization per gold ounce decreased 19% primarily due to higher gold ounces sold. All-in sustaining costs per gold ounce were generally in line with the prior year.
Current wording
Yanacocha, Peru. Gold production decreased 23% primarily due to lower leach pad production as a result of lower tonnes placed on the leach pads and lower leach grade. Costs applicable to sales per gold ounce increased 42% primarily due to lower gold ounces sold and lower buildup of leach pad inventory compared to the prior year. Depreciation and amortization per gold ounce was generally in line with the prior year. All-in sustaining costs per gold ounce increased 38% primarily due to higher costs applicable to sales per gold ounce.
Previous wording
Peñasquito, Mexico. Gold production decreased 75% primarily due to lower ore grade milled and lower mill recovery, both as a result of mine sequencing combined with higher organic carbon feed. Gold equivalent ounces - other metals production decreased 46% primarily due to lower other metals produced of 28% as a result of the lower ore grade milled and lower mill recovery, as well as the GEO price change that had an unfavorable impact to the calculated gold equivalent ounces - other metals produced of 18%. Costs applicable to salesper gold ounce increased 181% primarily due to lower gold ounces sold, higher materials and mill maintenance costs driven by timing of the plant shutdown, and higher workers participation costs, partially offset by lower allocation of costs to gold as a result of lower gold ounces produced compared to the other gold equivalent ounces - other metals produced due to mine sequencing. Costs applicable to sales per gold equivalent ounce – other metals increased 149% primarily due to lower gold equivalent ounces - other metals sold, higher mill maintenance costs driven by timing of the plant shutdown, higher allocation of costs to other metals as a result of the mine sequencing impacts, and higher workers participation costs. Depreciation and amortization per gold ounce increased 74% primarily due to lower gold ounces sold. Depreciation and amortization per gold equivalent ounces – other metals increased 60% primarily due to lower gold equivalent ounces - other metals sold. All-in sustaining costs per gold ounce increased 174% primarily due to higher costs applicable to sales per gold ounce. All-in sustaining costs per gold equivalent ounce – other metals increased 146% primarily due to higher costs applicable to sales per gold equivalent ounce - other metals, higher reclamation costs, and higher allocation of sustaining capital spend to the other metals as a result of the mine sequencing impacts.
Current wording
Peñasquito, Mexico. Gold production decreased 48% primarily due to lower ore grade milled and lower mill recovery, both as a result of mine sequencing combined with higher organic carbon feed, partially offset by higher mill throughput. Gold equivalent ounces - other metals production was generally in line with the prior year. Costs applicable to salesper gold ounce increased 50% primarily due to lower gold ounces sold, partially offset by lower allocation of costs to gold as a result of lower gold ounces produced compared to the other gold equivalent ounces - other metals produced due to mine sequencing. Costs applicable to sales per gold equivalent ounce – other metals increased 42% primarily due to lower gold equivalent ounces - other metals sold, higher workers participation costs, and higher allocation of costs to other metals as a result of the mine sequencing impacts, partially offset by higher by-product credits. Depreciation and amortization per gold ounce increased 45% primarily due to lower gold ounces sold. Depreciation and amortization per gold equivalent ounce – other metals increased 36% primarily due to lower gold equivalent ounces - other metals sold. All-in sustaining costs per gold ounce increased 53% primarily due to higher costs applicable to sales per gold ounce. All-in sustaining costs per gold equivalent ounce – other metals increased 46% primarily due to higher costs applicable to sales per gold equivalent ounce - other metals, higher allocation of sustaining capital spend to the other metals as a result of the mine sequencing impacts, and higher reclamation costs.
Previous wording
NGM, U.S. Attributable gold production was generally in line with the prior year. Costs applicable to sales per gold ounce were generally in line with the prior year. Depreciation and amortization per gold ounce increased 17% primarily due to a drawdown of inventory in the current year at Carlin compared to a buildup in the prior year. All-in sustaining costs per gold ounce were generally in line with the prior year.
Current wording
NGM, U.S. Attributable gold production was generally in line with the prior year. Costs applicable to sales per gold ounce increased 12% primarily due to higher third-party royalties at Carlin and Cortez and lower gold ounces sold at all NGM sites. Depreciation and amortization per gold ounce increased 15% primarily due to a drawdown of inventory in the current year at Carlin compared to a buildup in the prior year and lower gold ounces sold at all NGM sites. All-in sustaining costs per gold ounce increased 17% primarily due to higher costs applicable to sales per gold ounce and higher sustaining capital spend at all NGM sites.
Previous wording
Pueblo Viejo, Dominican Republic. Attributable gold production increased 17% primarily due to higher mill throughput and higher drawdown of in-circuit inventory, partially offset by lower mill recovery and lower ore grade milled. Refer to Note 12 to the Condensed Consolidated Financial Statements for further discussion of our equity method investments.
Current wording
Pueblo Viejo, Dominican Republic. Attributable gold production decreased 10% primarily due to lower ore grade milled, lower mill throughput, and lower mill recovery, partially offset by a drawdown of in-circuit inventory compared to a buildup in the prior year. Refer to Note 12 to the Condensed Consolidated Financial Statements for further discussion of our equity method investments.
Previous wording
Fruta del Norte, Ecuador. Attributable gold production decreased 6% primarily due to lower ore grade milled, partially offset by higher mill throughput. Refer to Note 12 to the Condensed Consolidated Financial Statements for further discussion of our equity method investments.
Current wording
Fruta del Norte, Ecuador. Attributable gold production decreased 14% primarily due to lower ore grade milled, partially offset by higher mill throughput. Refer to Note 12 to the Condensed Consolidated Financial Statements for further discussion of our equity method investments.
Showing the first 40 of 102 pairs. Open the source sections for the rest.
Rearranged current paragraphs (10)
Current report — wording carried from elsewhere
Parliament of Ghana made certain changes to its royalty regime. For more details, refer to the "Ghanaian Stability Agreement and Royalty" discussion in Item 2 Management's Discussion and Analysis of Financial Condition and Results of Operations above. The revised framework could result in higher operating costs at our Ghanaian operations, particularly in periods of higher gold prices.
Current report — wording carried from elsewhere
Nine Months Ended September 30, 2026 Compared to 2025
Current report — wording carried from elsewhere
Fruta del Norte, Ecuador. Attributable gold production decreased 9% primarily due to lower ore grade milled, partially offset by higher mill throughput. Refer to Note 12 to the Condensed Consolidated Financial Statements for further discussion of our equity method investments.
Current report — wording carried from elsewhere
(4)Primarily consists of the unrealized gains and losses related to the Company's marketable equity and other securities; included in Other income (loss), net.
Current report — wording carried from elsewhere
(5)Consists of non-cash write-downs of various assets that are no longer in use and materials and supplies inventories; included in Other expense, net.
Current report — wording carried from elsewhere
(3)Primarily consists of gains and losses related to the sale of certain assets and investments; included in Other income (loss), net.
Current report — wording carried from elsewhere
(4)Primarily consists of restructuring and severance related costs associated with significant organizational or operating model changes implemented by the Company for all periods presented; included in Other expense, net.
Current report — wording carried from elsewhere
(6)Consists of non-cash write-downs of various assets that are no longer in use and materials and supplies inventories; included in Other expense, net.
Current report — wording carried from elsewhere
(4)Primarily consists of restructuring and severance related costs associated with significant organizational or operating model changes implemented by the Company for all periods presented; included in Other expense, net. Amounts are presented net of Net loss (income) attributable to noncontrolling interests of $(2) and $(2), respectively.
Current report — wording carried from elsewhere
(8)Primarily consists of gains and losses related to the sale of certain assets and investments; included in Other income (loss), net.
Rearranged previous paragraphs (10)
Previous report — wording carried elsewhere
(2)The Company completed the divestment of CC&V in the first quarter of 2025; refer to Note 3 to the Condensed Consolidated Financial Statements for further information on the Company's divestitures.
Previous report — wording carried elsewhere
(5)These sites were classified as held for sale beginning in the first quarter of 2024, and as such, the Company ceased recording depreciation and amortization in March 2024. At June 30, 2026, all operating sites previously classified as held for sale had been divested and as a result, the comparative results of these operations are not meaningful. Refer to Note 3 to the Condensed Consolidated Financial Statements for further information on the Company's divestitures.
Previous report — wording carried elsewhere
Six Months Ended June 30, 2026 Compared to 2025
Previous report — wording carried elsewhere
As of June 30, 2026, we believe our available liquidity allows us to manage the short- and, possibly, long-term material adverse impacts of these events on our business. Refer to Note 2 to the Condensed Consolidated Financial Statements for further discussion on risks and uncertainties.
Previous report — wording carried elsewhere
(2)Primarily consists of the unrealized gains and losses related to the Company's marketable equity and other securities; included in Other income (loss), net.
Previous report — wording carried elsewhere
(6)Primarily consists of gains and losses related to the sale of certain assets and investments; included in Other income (loss), net.
Previous report — wording carried elsewhere
(5)Primarily consists of restructuring and severance related costs associated with significant organizational or operating model changes implemented by the Company for all periods presented; included in Other expense, net.
Previous report — wording carried elsewhere
(7)Primarily consists of gains and losses related to the sale of certain assets and investments; included in Other income (loss), net.
Previous report — wording carried elsewhere
(11)Refer to Note 3 to the Condensed Consolidated Financial Statements for information on the Company's divestitures.
Previous report — wording carried elsewhere
(3)Includes stockpile, leach pad, and product inventory adjustments of $14 at Cadia and $3 at NGM.