filings.toolsItem 2. PROPERTIES (dollars in millions, except per share, per ounce and per pound amounts)
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Item 2. PROPERTIES (dollars in millions, except per share, per ounce and per pound amounts)
Newmont’s production, development, and exploration properties are described below. All key permits have either been obtained by Newmont or approval is expected to be received in the normal course of business. The Company maintains its corporate headquarters in Denver, Colorado, U.S. and has various regional offices. In addition, Newmont holds investment interests in Canada, Mexico, Chile, Argentina, and various other locations. Refer to Item 1A, Risk Factors, for risks related to our properties.
Operating Statistics, Proven and Probable Reserves, and Measured, Indicated and Inferred Resources contain tabular information that is presented in both metric and imperial as follows: (i) metric tonnage is utilized for all metals; (ii) gold and silver grades are presented in grams per tonne; (iii) copper, lead, zinc, molybdenum, and tungsten grades are presented in percentages; and (iv) metal content for gold and silver is presented in ounces while metal content for copper, lead, zinc, molybdenum, and tungsten is presented in pounds or tonnes. Refer to Operating Statistics, Proven and Probable Reserves, and Measured, Indicated and Inferred Resources below.
Production Properties
Newmont’s properties described below are in the production stage and are operated by Newmont, unless otherwise noted. Production and other operating statistics are presented below in the Operating Statistics section for each site. At December 31, 2024, the Peñasquito, Boddington, Cadia, Lihir, and NGM properties are classified as material individual properties under Regulation S-K 1300 and additional details are provided for these properties accordingly.
Brucejack, Canada. (100% owned) Brucejack, located in western British Columbia, approximately 40 miles (65 kilometers) north of Stewart and 28 miles (45 kilometers) southwest of the Stewart-Cassiar Highway 37, is an underground operation. The Brucejack operation comprises four mining leases and six core mineral claims which cover 8,169 acres (3,306 hectares) and 337 mineral claims covering 298,795 acres (120,918 hectares). The mining leases expire in 2045. Brucejack is a deformed, porphyry-related transitional to intermediate sulphidation epithermal high-grade gold-silver deposit. Gold is hosted in quartz-calcite vein stockworks, sheeted veins and veinlets and can also be associated with arsenian pyrite. Process facilities include a mill building containing process equipment, including a rock bin, SAG mill-ball mill circuit followed by conventional flotation, concentrate dewatering, concentrate load-out and tailings dewater operations, a water treatment plant, a paste backfill plant, and a metallurgical laboratory. The mining fleet includes a fleet of load-haul-dump vehicles, trucks for material loading and transport to surface, excavators, bolters, shotcrete sprayers, long-hole drills, and cable bolters. Brucejack’s gross property, plant and mine development at December 31, 2024 was $2,105. Brucejack reported 1.9 million ounces of gold reserves at December 31, 2024.
Red Chris, Canada. (70% owned) Red Chris is 70% owned by Newcrest Red Chris Mining Limited, a Newmont subsidiary, and 30% owned by Red Chris Development Company Ltd., an Imperial Metals subsidiary, and is accounted for under proportionate consolidation. Red Chris is located in northwest British Columbia, Canada, approximately 11 miles (18 kilometers) southeast of the Iskut village, 50 miles (80 kilometers) south of Dease Lake, and 7 miles (12 kilometers) east of the Stewart-Cassiar Highway 37. The Red Chris operation is comprised of five mining leases which cover 12,703 acres (5,141 hectares) and 199 mineral claims, encompassing an area of approximately 164,903 acres (66,734 hectares). The mining leases expire in 2042. Red Chris is a copper-gold open pit mining operation. Newmont is conducting a feasibility study on a potential underground block cave mine, and has commenced an exploration decline. Gold and copper porphyry-style mineralization consists of vein, disseminated and breccia sulfides. The main sulfide mineral
assemblage is pyrite-chalcopyrite-bornite. Ore from the mine is fed to a primary crusher with crushed ore conveyed to a coarse ore stockpile. From there ore is reclaimed and fed to a conventional SAG mill–ball mill–pebble crushing comminution circuit which in turn feeds a flotation circuit. Flotation concentrate is dewatered and loaded into trucks for transportation off-site. The processing facilities are housed in a single process building. Additional to crushing and processing are waste rock storage facilities, a tailings storage facility, water treatment facilities, and waste treatment facilities. The available fleet consists of three face shovels, five drills, 22 trucks (dump and water trucks), three graders, one PC2000 excavator, five-non-production excavators, two mini excavators, ten loaders, and nine dozers. Red Chris’s gross property, plant and mine development at December 31, 2024 was $1,967. Red Chris reported 3.7 million ounces of gold reserves and 1.0 million tonnes of copper reserves at December 31, 2024.
| Peñasquito, Mexico. (100% owned) Peñasquito is an open pit operation located in the northeast corner of Zacatecas State, approximately 125 miles (200 kilometers) northeast of the city of Zacatecas and is accessible by paved roads with a private airport close to the site. The property began production in 2009, with commercial production being achieved in 2010. Goldcorp, Inc. (“Goldcorp”) acquired its ownership in the mine in 2006 when it acquired Glamis. In 2019, Newmont acquired Goldcorp, obtaining full ownership interest in Peñasquito. Peñasquito consists of the Peñasco and Chile Colorado open pit mines. Peñasquito is comprised of 20 mining concessions for operations comprising 113,231 acres (45,823 hectares) and 60 mining concessions for exploration of 107,456 acres (43,486 hectares). Surface rights in the vicinity of the Peñasco and Chile Colorado open pits are held by three ejidos: Ejido Cedros, Ejido Mazapil and Ejido Cerro Gordo. Peñasquito has signed land use agreements with each ejidos, valid through 2035 and 2036, and the relevant private owners. |  |
In January 2011, Peñasquito entered into a 20-year power delivery agreement with a subsidiary of InterGen Servicios Mexico (now Saavi Energia) where Peñasquito agreed to purchase electrical power from a gas-fired electricity generating facility located near San Luis de la Paz, Guanajuato, Mexico. The agreement commenced in August 2015. Power is also supplied by the Mexican Electricity Federal Commission (Comision Federal de Electricidad) at its central power grid through the El Salero-Peñasquito powerline.
In August 2020, the Company and Cedros General Assembly ratified the definitive agreement that was reached on April 22, 2020 and resolved all outstanding disputes between Peñasquito and the San Juan de Cedros community (Cedros). In addition, easements have been granted in association with the La Pardita-Cedros Highway and the El Salero-Peñasquito powerline. All necessary permits have been granted.
In July 2007, Goldcorp and Wheaton Precious Metals Corp. (then Silver Wheaton Corp.) entered into a silver streaming agreement. The Company is obligated to sell 25% of silver production from the Peñasquito mine to Wheaton Precious Metals Corporation at the lesser of market price or a fixed contract price, subject to an annual inflation adjustment of up to 1.65%. Refer to Note 5 to the Consolidated Financial Statements for further information.
A 2% net smelter return royalty is owed to Royal Gold Inc. from both the Chile Colorado and Peñasco open pits of the Peñasquito mine. Since January 1, 2014, the Mexican Government levies a 7.5% mining royalty that is imposed on earnings before interest, taxes, depreciation, and amortization. There is also a 0.5% environmental erosion fee payable on precious metal production, based on revenues. In December 2016, the State of Zacatecas in Mexico approved new environmental taxes (“Ecological Taxes”) that became effective January 1, 2017. The Ecological Taxes are calculated based on a predetermined formula and the volume of carbon emissions, as well as other environmental variables, at Peñasquito. The Company's payment of the Ecological Taxes primarily relates to the volume of carbon emissions at Peñasquito from fixed and mobile sources.
The mineralization at Peñasquito contains gold, silver, lead and zinc. Deposits currently mined within the Peñasquito operations are considered to be examples of breccia pipes developed as a result of intrusion-related hydrothermal activity.
Process facilities include a sulfide processing plant, comprising two stages of flotation: lead and zinc. In the lead and zinc flotation, the slurry is conditioned with reagents to activate the desired minerals and produce lead and zinc concentrates. The flotation tailings go for final deposition in the tailings storage facility. The available mining fleet consists of five rope shovels, three hydraulic shovels, four loaders, and 81 haul trucks, each with a 312-tonne payload. The fleet is supported by blast hole production drills, as well as track dozers, rubber tire dozers, excavators, and graders. Peñasquito’s gross property, plant and mine development at December 31, 2024 was $5,625.
As of December 31, 2024 and 2023, Peñasquito reported 4.1 million and 4.6 million ounces of gold reserves, respectively, 253.3 million ounces and 312.6 million of silver reserves, respectively, 0.8 million and 0.9 million tonnes of lead reserves, respectively, and 1.7 million and 2.2 million tonnes of zinc reserves, respectively. These changes represent a decrease of approximately 11% in gold
reserves, a decrease of approximately 19% in silver reserves, a decrease of approximately 11% in lead reserves, and a decrease of approximately 23% in zinc reserves in 2024 compared to 2023. The overall reduction in reserves is primarily due to depletion.
As of December 31, 2024 and 2023, Peñasquito reported 1.7 million and 1.5 million ounces of gold resources, respectively, 189.6 million ounces and 175.2 million of silver resources, respectively, 0.5 million and 0.6 million tonnes of lead resources, respectively, and 1.3 million and 1.3 million tonnes of zinc resources, respectively. These changes represent an increase of approximately 13% in gold resources, an increase of approximately 8% in silver resources, and a decrease of approximately 17% in lead resources, while zinc resources remained consistent in 2024 compared to 2023. The increase in gold resources is primarily due to net positive revisions.
Brownfield exploration and development for new reserves is ongoing.
Merian, Suriname. (75% owned) Merian is owned 75% by Newmont Suriname, LLC (“Newmont Suriname”) (formerly known as Suriname Gold Company LLC and 100% indirectly owned by Newmont Corporation) and 25% by Staatsolie Maatschappij Suriname N.V. (“Staatsolie,” a company wholly owned by the Republic of Suriname). Merian is located in Suriname, approximately 40 miles (66 kilometers) south of the town of Moengo and 19 miles (30 kilometers) north of the Nassau Mountains, close to the French Guiana border. The Merian operation is comprised of one Right of Exploitation encompassing an area of 41,687 acres (16,870 hectares) and four Rights of Exploration encompassing an area of 132,532 acres (53,634 hectares). All of the gold mineralization at Merian is closely associated with quartz veining within siltstone and sandstone formations. The operation currently includes the Merian 2 open pit, the Merian 1 open pit, the Maraba open pit, and the Kupari open pit. The available mining fleet consists of three shovels, three mining excavators, and 41 haul trucks, each with 150-tonne payload. Merian includes processing facilities that utilize a conventional gold mill, primary crusher and processing plant, consisting of a comminution plant, including gravity and cyanide leach processes, with recovery by carbon-in-leach, elution, electrowinning and induction furnace smelting to produce a gold doré product. Merian’s gross property, plant and mine development at December 31, 2024 was $1,355. Merian reported 4.1 million attributable ounces of gold reserves at December 31, 2024.
Brownfield exploration and development for new reserves is ongoing.
Cerro Negro, Argentina. (100% owned) Cerro Negro is located in southern Argentina about 250 miles (400 kilometers) southwest of the coastal city of Comodoro Rivadavia. The mineral tenure consists of ten mining property titles encompassing 53,246 acres (21,548 hectares), and three exploration licenses, encompassing 13,193 acres (5,339 hectares). We also own lands in the Cerro Negro mine area, totaling approximately 27,429 acres (11,100 hectares), which overlie the Bajo Negro and Vein Zone deposits and adjacent prospects. Cerro Negro consists of the Eureka, Mariana Central, Mariana Norte, Emilia, and San Marcos operating underground mines and the Baja Negro and Silica Cap underground mines, which are currently in development. Deposits within the Cerro Negro mine operations are low sulfidation, epithermal gold/silver vein deposits. Cerro Negro’s available underground mining fleet consists of nine underground loaders, 12 underground haul trucks, and six surface haul trucks, each with 30 to 40-tonne payloads and additional auxiliary equipment as required. The processing plant facilities consist of a crushing plant, a grinding circuit, agitated leaching, counter-current decantation, solution clarification, Merril Crowe zinc precipitation and smelting to produce gold and silver doré bars that are shipped to a refinery for further processing. Cerro Negro’s gross property, plant and mine development at December 31, 2024 was $2,302. Cerro Negro reported 3.2 million ounces of gold reserves at December 31, 2024.
Brownfield exploration and development for new reserves is ongoing, including the development of the Eastern district.
Yanacocha, Peru. (100% owned) Yanacocha is located approximately 375 miles (604 kilometers) north of Lima and 30 miles (48 kilometers) north of the city of Cajamarca. Yanacocha is comprised of 12 mining concessions encompassing 237,740 acres (96,210 hectares). Yanacocha is an epithermal type deposit of high sulfidation hosted in volcanic rock formations. Gold is associated with iron-oxides and pyrite, which is placed on leach pads. Yanacocha consists of the following open pit mines: the La Quinua Complex, the Yanacocha Complex, the Carachugo Complex, and Maqui Maqui. Yanacocha has four leach pads (La Quinua, Yanacocha, Carachugo and Maqui Maqui), with leaching operations at La Quinua and Carachugo. Yanacocha also has three gold processing plants (Pampa Larga, Yanacocha Norte and La Quinua), one limestone processing facility (China Linda) and one mill (Yanacocha Gold Mill). The La Quinua Complex mined material from the La Quinua Sur and the Tapado Oeste Layback and finished mining operations in 2021. The Yanacocha Complex mined material from the Yanacocha Layback and Yanacocha Pinos has had limited mining operations in recent years. The Maqui Maqui operations mined material from multiple mines that are no longer in operation. The Yanacocha Gold Mill ceased current operations in February 2021 and has been placed into care and maintenance. It will be repurposed for use as part of the Yanacocha Sulfides project. The Carachugo leach pad processes oxide material from Quecher Main. Yanacocha’s available mining fleet consists of two shovels, four excavators, and 25 haul trucks, each with 233-tonne payload. Yanacocha’s gross property, plant and mine development at December 31, 2024 was $5,886. Yanacocha reported 5.3 million ounces of gold reserves at December 31, 2024.
Pueblo Viejo, Dominican Republic. (40% owned) Pueblo Viejo is a joint venture with Barrick Gold Corporation ("Barrick"), where Barrick is the operator who holds the remaining 60% interest. We report our interest in Pueblo Viejo on an equity method basis. The Pueblo Viejo mine is an open pit conventional truck and shovel mining operation located approximately 60 miles (100 kilometers) northwest of Santo Domingo, Dominican Republic. The Pueblo Viejo mine is situated on the Montenegro Fiscal Reserve, an area specially designated by Presidential Decree for the leasing of minerals and mine development, which covers an area of approximately 19,756 acres (7,995 hectares) in aggregate. The Pueblo Viejo deposits are located in two major areas, the Monte Negro pit and the
Moore pit, and consists of high sulfidation or acid sulfate epithermal gold, silver, copper and zinc mineralization. Process facilities include a conventional mill which consists of a crushing and grinding circuit, autoclaves, and a carbon-in-leach circuit. The plant expansion project is nearing completion and adds a new crusher, SAG mill, carbon-in-leach circuit and a flotation circuit. The tailings storage facility continues to advance. The plant expansion and tailings storage facility are designed to extend its life to 2040 and beyond. The available mining fleet consists of three shovels, five front loaders, 46 haul trucks, each with an average payload of 185 tonnes, and seven drills. The Company's attributable portion of Pueblo Viejo’s gross property, plant and mine development is $2,968 at December 31, 2024. We report our 40% interest in Pueblo Viejo on an equity method basis under U.S. GAAP and as a result our attributable portion of Pueblo Viejo's gross property, plant and mine development is included in the carrying value of our equity method investment at December 31, 2024. As of December 31, 2024, Pueblo Viejo reported 8.2 million ounces of attributable gold reserves and 48.9 million ounces of attributable silver reserves.
Boddington and Tanami, Australia. Newmont’s Boddington and Tanami operations in Australia take place on land that falls under the custodianship of Aboriginal people. Aboriginal land rights in Australia, which recognize the traditional rights and customs of Aboriginal people, are governed by the Commonwealth Native Title Act and certain other Acts specific to individual states and territories. The Commonwealth Native Title Act was enacted in 1993 following a decision in the High Court of Australia, which held that Aboriginal people, who have maintained a continuing connection with their land according to their traditional laws and customs, may hold certain rights which should be recognized under Australian common law. In the Northern Territory, where the Tanami operation is located, the Aboriginal Land Rights Act (“ALRA”) was introduced in 1976, which established an Aboriginal Land rights regime. Under the ALRA, approximately 50% of the land in the Northern Territory was granted as inalienable Aboriginal freehold titled land.
Newmont has existing agreements with the Traditional Owner groups of the land utilized by our Tanami and Boddington operations. Any future agreements would depend on a determination of native title, which is likely to take many years. If successful, a native title determination could give rights to compensation claims in the future. Throughout Australia, new exploratory and mining tenements may require native title agreements to be entered into and will be subject to a negotiation process, which often gives rise to compensation payments and heritage survey protocols. Newmont does not consider that native title claims or determined areas where rights have been established are an impediment to the operation of existing mines.
In Australia, various ad valorem royalties and taxes are paid to state and territorial governments, typically based on a percentage of gross revenues or earnings. Aboriginal groups have negotiated compensation/royalty payments as a condition to granting access to areas where native title rights are determined or where they own the land.
| Boddington, Australia. (100% owned) Boddington is located 81 miles (130 kilometers) southeast of Perth in Western Australia and is accessible primarily by paved road. Boddington has been wholly owned since June 2009 when Newmont acquired the final 33.33% interest from AngloGold Ashanti Australia Limited. The Boddington project area comprises 52,045 acres (21,062 hectares) of mining tenure leased from the State of Western Australia, of which 26,910 acres (10,890 hectares) is subleased from the South 32 Worsley Joint Venturers ("Worsley JV"). The total project area is comprised of multiple leases that expire between 2025 and 2043. Royalties are paid to the state government at 2.5% for gold and 5% for copper based on revenue. Shipping and treatment and refining costs are allowable deductions from revenue for royalty calculations for copper. Newmont owns 74,354 acres (30,090 hectares) of rural freehold property, some of which overlaps existing mining tenure. The majority of its current operational area is located on its freehold property. |  |
The subleases from the Worsley JV expire immediately prior to the expiry of the relevant mining leases. Newmont holds rights to renew the subleases. The mining leases are renewable upon application to the State of Western Australia by the Worsley JV. As these mining leases are in their third term, renewal of these mining leases is at the discretion of the State. The subleases do not confer an express right to require the Worsley JV to seek application to renew the mining leases. Newmont is entitled to all gold and other non-bauxite mineralization conferred by the mining leases. The Worsley JV retains the rights to bauxite mineralization. The relationship between the Worsley JV bauxite operations and the Boddington gold operations are regulated through a cross-operation agreement. This agreement confers priority on the bauxite operations such that the bauxite/alumina mining operations of the Worsley JV will take priority over the gold mining operations and Newmont is required to take reasonable measures to conserve bauxite including by mining and stockpiling bauxite on behalf of the Worsley JV.
Boddington consists of greenstone diorite hosted mineralization and exploration activities continue to develop the known reserve. The mine operates two pits (North and South Pits), utilizing two electric shovels, a diesel powered face shovel and two excavators as its prime ex-pit material movers with a fleet of 41 production autonomous haulage trucks. Boddington has a current capacity to mine approximately 175,000 to 225,000 tonnes of material per day. The milling plant includes a three-stage crushing facility
(two primary crushers, six secondary crushers and four high-pressure grinding rolls), four ball mills, a flotation circuit and a carbon-in-leach circuit. The flotation circuit process recovers gold-copper concentrate before the material is then processed by a traditional carbon-in-leach circuit where the remaining gold is recovered to produce doré. Mining operations consist of two open pit operations located adjacent to each other.
Power for the operation is sourced through the local power grid under a long-term power purchase agreement with Bluewaters Power. The power supply contract with Bluewaters expires in 2026 and includes an option to extend.
Boddington’s gross property, plant and mine development at December 31, 2024 was $4,879.
As of December 31, 2024 and 2023, Boddington reported 10.8 million and 9.6 million ounces of gold reserves, respectively, and 0.5 million and 0.5 million tonnes of copper reserves, respectively. These changes represent an increase of approximately 13% in gold reserves, while copper reserves remained consistent in 2024 compared to 2023. The increase in gold reserves is primarily due to net positive technical revisions.
As of December 31, 2024 and 2023, Boddington reported 4.3 million and 4.7 million ounces of gold resources, respectively, and 0.3 million and 0.3 million tonnes of copper resources, respectively. The gold resources decreased approximately 9% and the copper resources remained consistent in 2024 compared to 2023. The decrease in gold resources is primarily due to conversion to reserves, partially offset by positive technical revisions.
Brownfield exploration and development for new reserves is ongoing.
Tanami, Australia. (100% owned) Tanami is located in the Northern Territory approximately 342 miles (550 kilometers) northwest of Alice Springs. The underground mining infrastructure and operation is located at Dead Bullock Soak (“DBS”). The processing infrastructure is located 25 miles (40 kilometers) to the east of the mining operations at the Granites. Ore is transported by road train from DBS underground to the processing facility at the Granites.
The Newmont Tanami Operations are comprised of exploration licenses encompassing a total area of 1,540,301 acres (623,338 hectares) including 556,545 acres (225,226 hectares) relating to the Tobruk and Monza Joint Ventures entered into with Prodigy Gold, and 44,333 acres (17,941 hectares) relating to a Joint Venture entered into with Top End Exploration Pty Ltd, for which Newmont is the operator, and 11,025 acres (4,462 hectares) of mineral leases granted pursuant to the Northern Territory Mineral Titles Act. Additionally, Newmont operates through exploration and mining agreements with the Central Land Council who represent Traditional Owners, the Warlpiri people.
Tanami consists of sediment hosted sheeted quartz vein mineralization. Tanami, as an underground mining operation, has a fleet of ten underground loaders, 22 haul trucks, each with 60 to 65-tonne payloads, and one ejector truck with a 45 tonne capacity. Processing plant facilities currently consist of a crushing plant, a grinding circuit, a gravity circuit, carbon in pulp tanks and a conventional tailings disposal facility. Tanami’s gross property, plant and mine development at December 31, 2024 was $3,401. Tanami reported 5.1 million ounces of gold reserves at December 31, 2024.
Brownfield exploration and development for new reserves is ongoing with the main focus being underground ore definition drilling of the Auron, Federation and Liberator ore bodies as well as exploration of the Oberon deposit.
| Cadia, Australia. (100% owned) Cadia is located approximately 16 miles (25 kilometers) south-southwest of the town of Orange in New South Wales ("NSW") and is accessible primarily by paved roads and through the Orange airport located approximately 8 miles (13 kilometers) northeast of the Cadia Operations. The Cadia Operations consist of six granted mining leases and five granted exploration licenses through NSW encompassing a total area of 53,128 acres (21,500 hectares). Newmont predominantly owns all properties covered by the mining leases and a number of properties in the surrounding area. The main mining lease expires in October 2038 but can be renewed. Newcrest acquired the Cadia mine in 1991. Newmont obtained the 100% ownership of Cadia when Newmont acquired Newcrest in 2023. Cadia consists of the Cadia East, Cadia Hill, Cadia Extended, and Ridgeway deposits which consist of alkalic porphyry gold-copper style mineralization and the Big Cadia deposit which is a skarn-style occurrence. |  |
The NSW government levies a royalty rate of 4% for gold, silver, copper, and molybdenum based on revenue. Treatment costs, depreciation, realization, and administration costs are allowable deductions from revenue for royalty calculations.
Cadia operates two adjacent concentrators, Concentrator 1 and Concentrator 2, currently treating ore from Cadia East mine. Both concentrators have undergone throughput upgrades, including operational improvements, over the years. Water supply at Cadia is sourced from the Cadiangullong Dam, Upper Rodds Creek Dam, Flyers Creek Weir, Cadia Creek Weir, Orange Sewage Treatment Plant
treated effluent, on-site groundwater bores, Belubula River, and site runoff. Cadia sources all of its power from the National Electricity Market. Cadia is currently under an electricity supply agreement and holds a power purchase agreement.
Production mining is an underground panel cave mining from Cadia East with underground crushing and conveyor to surface. The processing plant infrastructure includes high pressure grinding rolls, SAG mills, ball mills, flotation, coarse ore flotation, gravity concentrator and a molybdenum plant to produce copper and gold concentrate, gold doré, and molybdenum concentrate. The available primary production fleet consists of 26 underground production loaders with an average 19 tonne payload. Cadia’s gross property, plant and mine development at December 31, 2024 was $5,735.
As of December 31, 2024 and 2023, Cadia reported 14.1 million and 14.7 million ounces of gold reserves, respectively, 3.1 million and 3.2 million tonnes of copper reserves, respectively, 22.8 million and 24.0 million ounces of silver reserves, respectively and 0.1 million and 0.1 million tonnes of molybdenum reserves, respectively. These changes represent a decrease of approximately 4% in gold reserves, a decrease of approximately 3% in copper reserves, a decrease of approximately 5% in silver reserves in 2024 compared to 2023. Molybdenum reserves remained consistent. The overall reduction in reserves is primarily due to depletion.
As of December 31, 2024 and 2023, Cadia reported 19.5 million and 20.6 million ounces of gold resources, 4.2 million and 4.7 million tonnes of copper resources, 34.0 million and 38.8 million ounces of silver resources, and 0.1 million and 0.1 million tonnes of molybdenum resources. These changes represent a decrease of approximately 5% in gold resources, a decrease of approximately 11% in copper resources, and a decrease of approximately 12% in silver resources in 2024 compared to 2023. Molybdenum resources remained consistent. The overall reduction in resources is primarily due to negative technical revisions.
| Lihir, Papua New Guinea. (100% owned) Lihir is an open pit mine located near the town of Londolovit on Aniolam Island, approximately 560 miles (900 kilometers) northeast of Port Moresby, the national capital. Access to Aniolam Island is through the Kunaye airport located approximately 4 miles (7 kilometers) north of the mine. Newcrest acquired the Lihir mine in 2010. Newmont obtained the 100% ownership of Lihir when Newmont acquired Newcrest in 2023. The Lihir deposit is considered to be an example of an epithermal gold deposit. Lihir Island is part of a 155 mile (250-kilometers) long, northwest-trending, alkalic volcanic island chain that sits within an area where several micro-plates (Solomon Sea Plate, South Bismarck Plate and North Bismarck Plate) developed between the converging Australian and South Pacific plates. Lihir Island comprises two Plio–Pleistocene volcanic blocks, Londolovit Block and Wurtol Wedge and three Pleistocene volcanic edifices, Huniho, Kinami, and Luise. |  |
Lihir consists of a granted Special Mining Lease, two granted Mining Leases, one granted Exploration License, five granted Leases for Mining Purposes, and three Mining Easements held in the name of Lihir Gold. The total area under license is approximately 63,506 acres (25,700 hectares). Lihir is situated on land held variously under customary, State of PNG, and private ownership, including under State of PNG lease. The bulk of the land that is or will be affected by development, operations and closure of the Lihir Operations is customary owned. Newmont has been granted rights to undertake mining and processing of gold and related activities, through negotiations with the state and local government, and landowners in the area. Environment Permits for water extraction and waste disposal are in place to support mining operations. The Londolovit River is the main source of water for the process plant and surrounding area.
A 2% royalty is payable to the State on the realized prices of all gold and silver bullion sold, less transport and refining costs. In addition, a production levy of 0.5% is also payable to the PNG Mineral Resource Authority on the gross income from the sale of the minerals (i.e., excluding the offsets of treatment and refining charges, payable terms and freight) and other income derived from or in connection with the mining operations.
Operations at Lihir are conducted using a fleet of nine hydraulic shovels and 49 haul trucks, with payload ranging from 90 to 131-tonnes. The process plant consists of crushing and grinding followed by bulk sulphide flotation, pressure oxidation, and recovery of gold from washed oxidized slurry using conventional cyanidation. For tailings management, Lihir utilizes deep-sea tailings placement in a suitable deep-ocean location. The plant has undergone a number of alterations and expansions since first commissioning in 1997. Lihir’s gross property, plant and mine development at December 31, 2024 was $3,874.
As of December 31, 2024 and 2023, Lihir reported 15.8 million and 17.5 million ounces of gold reserves, respectively. This change represents a decrease of approximately 10% in gold reserves in 2024 compared to 2023. The decrease in gold reserves is primarily due to depletion and negative technical revisions.
As of December 31, 2024 and 2023, Lihir reported 20.4 million and 20.2 million ounces of gold resources, respectively. The gold resources remained consistent in 2024 compared to 2023.
Ahafo, Ghana. (100% owned) Our current Ahafo operation ("Ahafo South") is located near Kenyasi in the Ahafo Region of Ghana, approximately 180 miles (290 kilometers) northwest of the national capital city of Accra. The Ahafo South operations are comprised of three mining leases issued under the Ghanaian Mining Act encompassing a total area of approximately 137,000 acres (55,000 hectares) with current mine take area of approximately 13,200 acres (5,300 hectares) that has been fully compensated and approximately 10,700 acres (4,300 hectares) of mining area that has not been fully compensated (e.g. payment would be necessary to move people from their land). The mining leases grant the exclusive rights to work, develop and produce gold in the lease area, including the processing, storing and transportation of mineral and materials. The mining leases require Ahafo South to respect or perform certain financial and statutory reporting obligations and expire in 2031 and are renewable subject to certain conditions.
The Ahafo South mine is composed of three orogenic gold deposits that have oxide and primary mineralization. Gold occurs primarily in pyrite and secondarily as native gold in quartz veins. Ahafo South has two active open pits, Subika and Awonsu. Subika added an underground operation, which reached commercial production in November 2018, and Awonsu completed a layback in November 2019. The available mining fleet for surface mining consists of three shovels and 36 haul trucks, each with 141-tonne payload. The available mining fleet for underground mining consists of eight underground loaders and 14 haul trucks, with payload ranging from 55 to 57-tonnes. The daily production rate is approximately 88,000 tonnes. The original processing plant was commissioned in 2006. The Ahafo Mill Expansion, which was completed in October 2019, expanded the plant capacity to process approximately 11 million tonnes per year. The current processing plant consists of two crushing plants, two grinding circuits, carbon-in-leach circuits, elution circuit, counter current decantation circuit, a tailings disposal facility, and a reverse osmosis water treatment plant. Ahafo South’s gross property, plant and mine development at December 31, 2024 was $2,938. As of December 31, 2024 Ahafo South reported 4.6 million ounces of gold reserves.
Brownfield exploration and development for new reserves is ongoing.
| NGM, Nevada, U.S. (38.5% owned) NGM is located in Elko, Nevada. On July 1, 2019, Newmont and Barrick consummated the Nevada JV Agreement, which combined the Company’s Nevada mining operations with Barrick’s Nevada mining operations resulting in the establishment of NGM, a joint venture with Barrick, who is the operator, and which is accounted for by the Company under proportionate consolidation. NGM operations are primarily accessible by paved road and are comprised of 180,921 acres (73,217 hectares) in aggregate including Cortez 53,999 acres (21,853 hectares), Carlin 58,255 acres (23,575 hectares), Turquoise Ridge 26,679 acres (10,797 hectares), Phoenix 17,900 acres (7,244 hectares), and Long Canyon 24,088 acres (9,748 hectares). |  |
All sites at NGM contain open pit operations while Cortez, Carlin, and Turquoise Ridge also include underground operations. At Cortez, mineralization is sedimentary rock-hosted and consists of submicron to micrometer-sized gold particles and gold in solid solution in pyrite. Refractory ore is transported to Carlin for processing. Phoenix is a skarn-hosted polymetallic massive sulfide replacement deposit. The Phoenix mill produces a gravity gold concentrate and a copper/gold flotation concentrate and recovers additional gold from cyanide leaching of the flotation tails. Carlin, Turquoise Ridge, and Long Canyon are a sediment-hosted disseminated gold deposit. Additionally, at Long Canyon, oxide ore with suitable cyanide solubility is treated on a heap leach pad. Gold recovered from the leach pad is transferred as gold-bearing carbon to Carlin for refining and shipment.
In Nevada, mining taxes are assessed on up to 5% of net proceeds of a mine. During 2021, the Nevada legislature enacted a new excise tax which is assessed up to 1.1% of gross revenues.
NGM owns, or controls through leases, fee ownership, and unpatented mining claims, all of the minerals and surface area within the boundaries of the present Nevada mining operations. The long-term leases extend for at least the anticipated mine life of those deposits. With respect to a significant portion of the Gold Quarry mine at Carlin, NGM pays a net smelter royalty equivalent to 16.2% of the mineral production. NGM wholly-owns or controls the remainder of the Gold Quarry mineral rights, in some cases subject to additional royalties. With respect to certain smaller deposits in Nevada, NGM is obligated to pay royalties on production to third parties that vary from 1% to 8% of production.
Each site has its own process facilities which include: an oxide mill, which consists of a crushing and grinding circuit and carbon-in-leach circuit, and two heap leach pads at Cortez; an autoclave, two roasters, an oxide mill/flotation circuit and three heap leach pads at Carlin; the Sage autoclave, an oxide mill, and three heap leach pads at Turquoise Ridge; a flotation mill, a carbon-in-leach plant, a copper leach pad and a solvent extraction electrowinning (“SX/EW”) plant at Phoenix; and a heap leach pad at Long Canyon. NGM has a current capacity across all sites to mine approximately 267,000 tonnes of material per day. The milling facilities were commissioned over a range of years beginning in the 1990’s. They undergo routine maintenance each year with process improvements implemented as the projects are identified and approved. Power is either purchased in the open market or supplied by the power plants owned and operated by NGM.
The NGM operations include, in aggregate, an open pit mining fleet consisting of 27 shovels and 142 haul trucks with an average payload of 272 tonnes, and an underground mining fleet consisting of 55 underground loaders and 87 haul trucks, with an average payload of 35 tonnes. Newmont’s share of NGM’s gross property, plant and mine development at December 31, 2024 was $8,894.
As of December 31, 2024 and 2023, NGM reported 17.9 million and 18.3 million attributable ounces of gold reserves, respectively, 0.1 million and 0.1 million tonnes of copper reserves, respectively, and 14.5 million and 14.2 million ounces of silver reserves, respectively. These changes represent a decrease of approximately 2% in gold reserves and an increase of approximately 2% in silver reserves, while copper reserves remained consistent in 2024 compared to 2023. The decrease in gold reserves is primarily due to mining depletion, partially offset by additions and positive net revisions.
As of December 31, 2024 and 2023, NGM reported 15.2 million and 17.3 million attributable ounces of gold resources, respectively, 0.2 million and 0.2 million attributable tonnes of copper resources, respectively, and 19.2 million and 19.9 million attributable ounces of silver resources, respectively. These changes represent a decrease of approximately 12% in gold resources and a decrease of approximately 4% in silver resources, while copper resources remained consistent in 2024 compared to 2023. The decrease in gold resources is primarily due to negative net revisions and conversion to reserves.
Brownfield exploration and development for new reserves is ongoing.
Held for Sale Properties
The following properties are classified as held for sale as of December 31, 2024. Refer to Note 3 to the Consolidated Financial Statements for further discussion.
Cripple Creek & Victor, U.S. (100% owned) CC&V, located next to the town of Victor and the city of Cripple Creek, Colorado, is an open pit operation. The CC&V operation comprises two state mineral leases, 108 subdivided city lots, 30 surface and mineral parcels, and 1,642 patented lode, millsite, and placer claims, and 13 unpatented federal load claims encompassing a total area of 13,757 acres (5,567 hectares). CC&V is an epithermal alkalic deposit with heap leaching facilities. The available mining fleet consists of two hydraulic shovels, two loaders, and 21 haul trucks, each with a 230-tonne payload. CC&V’s gross property, plant and mine development, included in Assets held for sale, at December 31, 2024 was $1,229. CC&V reported 2.4 million ounces of gold reserves at December 31, 2024.
Musselwhite, Canada. (100% owned) Musselwhite, located approximately 265 miles (430 kilometers) north of Thunder Bay, Ontario, is an underground operation. The Musselwhite operation comprises 940 mining claims and 338 mining leases, issued under the Ontario Mining Act, encompassing an area of 162,178 acres (65,631 hectares). The mining leases expire between 2025 and 2033. Musselwhite is an iron formation hosted gold deposit. Process facilities include a conventional mill, which consists of a crushing and grinding circuit, carbon-in-pulp and carbon-in-leach plants, elution circuits and an electrowinning plant where the gold is recovered and smelted to produce doré. The available mining fleet consists of 11 underground loaders and 14 haul trucks, each with a 45-tonne payload. Musselwhite’s gross property, plant and mine development, included in Assets held for sale, at December 31, 2024 was $1,374. Musselwhite reported 1.5 million ounces of gold reserves at December 31, 2024.
Porcupine, Canada. (100% owned) Porcupine consists of the Hollinger open pit, Pamour Open Pit, and Hoyle Pond underground operations, located in the city of Timmins, Ontario, as well as the Borden underground operation, located near the town of Chapleau, Ontario. The Porcupine operation is comprised of 705 mining claims, 528 mining patents, and 96 mining leases, issued under the Ontario Mining Act, encompassing an area of 99,015 acres (40,070 hectares). The Borden operations is comprised of 488 mining cell claims, 489 surface and mining patents, and 21 surface and mining leases encompassing an area of 255,615 acres (103,446 hectares). Mineralization at Hollinger and Hoyle, in Timmins, comprises multiple generations of quartz-carbonate-tourmaline albite veins, associated pyrite alteration envelopes, and disseminated pyrite mineralization. Mineralization at Pamour, in Timmins, is in three distinct types, TN veins (type I) occurs in the Timiskaming assemblage rocks, extension veins (type II) form in the Timiskaming sediments as sheeted quartz veins or stockwork stringers best developed in the conglomerates and forms the bulk type mineralization, narrow vein hosted by volcanic units (type III) that crosscut stratigraphy. Gold occurs one as free gold associated with narrow, quartz ankerite extension veins associated with traces of sphalerite, galena and locally arsenopyrite, and two as a disseminated pyrite-gold alteration halo around quartz veinlets and stockworks. Mineralization at Borden consists of a shear zone containing quartz-vein hosted sulfides within a high-grade metamorphic greenstone package. Process facilities, located in the city of Timmins, include a conventional mill, which consists of a crushing and grinding circuit, carbon-in-pulp and carbon-in-leach plants, Knelson concentrators, Acacia reactor, elution circuits and an electrowinning plant where the gold is recovered and smelted to produce doré. The available mining fleet consists of three hydraulic shovels, five surface loaders, 18 underground loaders, and 32 haul trucks, with payloads ranging from 30 to 137 tonnes. Porcupine’s gross property, plant and mine development, included in Assets held for sale, at December 31, 2024 was $2,045. Porcupine reported 2.3 million ounces of gold reserves at December 31, 2024.
Éléonore, Canada. (100% owned) Éléonore, located approximately 510 miles (825 kilometers) north of Montreal in Eeyou Istchee/James Bay in Northern Quebec, is an underground operation. The Éléonore operation is comprised of 368 mining claims and one mining lease, issued under the Quebec Mining Act, encompassing 48,210 acres (19,511 hectares). Éléonore is a clastic sediment-hosted stockwork-disseminated gold deposit. Process facilities include a conventional mill which consists of a crushing and grinding circuit, flotation circuit, carbon-in-pulp circuits and an electrowinning plant where the gold is recovered and smelted to produce doré.
The available fleet consists of 13 underground loaders, and 10 haul trucks, each with 45 to 60-tonne payloads. Éléonore’s gross property, plant and mine development, included in Assets held for sale, at December 31, 2024 was $1,300. Éléonore reported 1.6 million ounces of gold reserves at December 31, 2024.
Akyem, Ghana. (100% owned) Akyem, located in Birim North District of the Eastern Region of Ghana, approximately 80 miles (125 kilometers) northwest of the national capital city of Accra, is an open pit mining operation comprised of two mining leases issued under the Ghanaian Mining Act, encompassing an area of approximately 16,000 acres (6,000 hectares). The Akyem mine is an orogenic gold deposit that has oxide and primary mineralization. Process facilities include a crushing plant, a SAG and ball milling circuit, carbon-in-leach circuit, elution circuit and bullion smelting facilities. The available mining fleet consists of four excavators made up of two front end shovels and two backhoe excavators and twenty-one 145-tonne payload haul trucks. Akyem’s gross property, plant and mine development at December 31, 2024 was $1,785. Akyem reported 0.9 million ounces of gold reserves at December 31, 2024.
Development and Exploration Properties
Newmont’s development and exploration stage properties are set forth below for which we have declared reserves and/or resources. As these are in the development and exploration stages, the properties have not reached commercial production and do not have processing plants or other available facilities, except as noted below for Ahafo North.
| Property | Stage | Size and Location | Ownership Interest and Type | Operator | Mine Types and Mineralization Styles | Titles, Mineral Rights, Leases or Options | ||||||||||||||
| Galore Creek | Exploration | 455,502 acres (184,335 hectares) Located 230 miles northwest of Smithers in British Columbia, Canada. | 50% owned. Joint venture with Teck Resources Limited that is proportionately consolidated. | Jointly operated by Newmont and Teck Resources Limited. | Galore Creek is an open pit mine and is an alkali porphyry copper gold deposit. | Galore Creek consists of 390 mineral claims. | ||||||||||||||
| Noche Buena | Exploration | 3,946 acres (1,597 hectares) Located 35 miles northwest of Caborca, Sonora, Mexico, within the Peñasquito production property. | 50% owned. Joint venture with Minera Frisco. | Newmont | Noche Buena is an intermediate sulfidation/skarn deposit. | Noche Buena consists of 32 mining concessions included within the Peñasquito production property. | ||||||||||||||
| NuevaUnión | Development | 414,262 acres (167,646 hectares) Located in the Atacama Region of Chile. | 50% owned. Joint venture with Teck Resources Limited accounted for as an equity method investment. | Jointly operated by Newmont and Teck Resources Limited. | NuevaUnión is an open pit mine and is a porphyry copper gold deposit. | NuevaUnión consists of 546 exploitation licenses and 630 exploration licenses. |
| Property | Stage | Size and Location | Ownership Interest and Type | Operator | Mine Types and Mineralization Styles | Titles, Mineral Rights, Leases or Options | ||||||||||||||
| Norte Abierto | Development | 326,785 acres (132,245 hectares) Located in the Atacama Region of Chile. | 50% owned. Joint venture with Barrick Gold Corporation accounted for as an equity method investment. | Jointly operated by Newmont and Barrick Gold Corporation. | Norte Abierto is an open pit mine and is a porphyry copper gold deposit with minor epithermal gold deposits. | Norte Abierto consists of 504 exploitation licenses, 174 exploration licenses, and 26 water rights. | ||||||||||||||
| Conga Project | Exploration | 35,427 acres (14,337 hectares) Located within the Cajamarca Region of Northern Peru. | 100% owned | Newmont | Conga is made up of a cluster of porphyry gold-copper deposits, including the Chailhuagón and Perol open pits. | Conga consists of one mining concession, included within the Yanacocha production property, and 278 surface rights (5,900 hectares). | ||||||||||||||
| Namosi | Exploration | 115,897 acres (46,902 hectares) Located approximately 19 miles northwest of Suva on Viti Levu Island, Fiji. | 73.24% owned. Joint venture with Materials Investments (Fiji) Limited that is proportionately consolidated. | Newmont | Namosi is an open pit mine and is a porphyry copper gold deposit. | Namosi consists of one special prospecting license. | ||||||||||||||
| Wafi-Golpu | Development | 31,862 acres (12,894 hectares) Located approximately 40 miles from the city of Lae, Papua New Guinea. | 50% owned. Joint venture with Harmony Gold Mining Company Limited that is proportionately consolidated. | Jointly operated by Newmont and Harmony Gold Mining Company Limited | Wafi-Golpu contains three separate but genetically related deposits: (1) Nambonga, a mineralized copper-gold quartz vein array; (2) Wafi, a high sulphidation epithermal gold deposit; and (3) Golpu, a mineralized multiphase porphyry style copper-gold deposit. | Wafi-Golpu consists of two exploration licenses. The State of PNG retains the right to purchase, at a pro rata share of accumulated exploration expenditure, up to 30% equity interest in any mineral discovery at Wafi-Golpu, at any time before the commencement of mining. | ||||||||||||||
| Ahafo North (1) | Development | 93,354 acres (37,779 hectares) Located approximately 31 miles north of Ahafo South and approximately 236 miles northwest of the capital city of Accra, Ghana. | 100% owned | Newmont | Ahafo North is comprised of six open pits and is an orogenic gold deposit with both oxide and primary mineralization. | Ahafo North consists of three prospecting licenses and one mining lease. | ||||||||||||||
| Coffee (2) | Development | 176,979 acres (71,621 hectares) Located approximately 81 miles south of Dawson City in Yukon Territory, Canada. | 100% owned | Newmont | Coffee is an open pit mine and is a mid-cretaceous structurally hosted and controlled, gold-only deposit hosted in Paleozoic metamorphic rocks and mid-Cretaceous plutonic rocks. | Coffee consists of 150 placer claims and 3,543 quartz claims. |
____________________________
(1)At December 31, 2024, Ahafo North is classified as a development property. In July 2021, the Board of Directors approved full funding for the Ahafo North project, which is expected to commence commercial production in 2025. The available mining fleet at December 31, 2024 consists of three excavators, including two front-end shovels and one backhoe excavator, as well as sixteen 100-tonne payload haul trucks.
(2)Coffee is classified as held for sale as of December 31, 2024. Refer to Note 3 to the Consolidated Financial Statements for further discussion.
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 Ended December 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Brucejack | — | 1,083 | 1,073 | — | 7.811 | — | 96.8% | 258 | — | 258 | 249 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Red Chris | 19,591 | — | 6,293 | — | 0.367 | — | 56.3% | 40 | — | 40 | 39 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito | 138,280 | — | 32,896 | — | 0.539 | — | 59.9% | 299 | — | 299 | 290 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Boddington | 68,208 | — | 34,936 | — | 0.623 | — | 85.2% | 590 | — | 590 | 581 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tanami | — | 2,416 | 2,359 | — | 5.442 | — | 98.5% | 408 | — | 408 | 411 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia | — | 30,742 | 29,824 | — | 0.626 | — | 79.6% | 464 | — | 464 | 454 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lihir | 34,515 | — | 10,885 | — | 2.334 | — | 74.8% | 614 | — | 614 | 620 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ahafo | 26,252 | 2,524 | 9,470 | — | 2.807 | — | 94.1% | 798 | — | 798 | 798 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 (5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Telfer | 25,568 | 639 | 3,665 | — | 0.770 | — | 89.9% | 73 | 10 | 83 | 103 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Gold (6) | 561,856 | 44,626 | 171,579 | 48,153 | 1.292 | 0.401 | 84.7% | 5,970 | 575 | 6,545 | 6,539 |
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(1)All amounts are reported in thousands unless otherwise noted.
(2)Average ore grade reported in grams/tonne.
(3)For the year ended December 31, 2024, Merian produced 205 attributable ounces, which reflects our 75% ownership interest. Total attributable ounces were 6,476 ounces.
(4)Sites are classified as held for sale as of December 31, 2024. Refer to Note 3 to the Consolidated Financial Statements for further information.
(5)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.
(6)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 Ended December 31, 2024 | Direct Mining and Production Costs | By-Product Credits | Royalties and Production Taxes | Write-Downs and Inventory Change | Costs Applicable to Sales (3)(4) | Depreciation and Amortization | Reclamation and Remediation | Total Production Costs (5) | All-In Sustaining Costs per Ounce Sold (1)(2)(4) | ||||||||||||||||||||||||||||||||||||||||||||
| Brucejack | $ | 1,317 | $ | (36) | $ | 32 | $ | (59) | $ | 1,254 | $ | 691 | $ | 19 | $ | 1,964 | $ | 1,603 | |||||||||||||||||||||||||||||||||||
| Red Chris | $ | 1,257 | $ | (11) | $ | 35 | $ | (56) | $ | 1,225 | $ | 367 | $ | 43 | $ | 1,635 | $ | 1,607 | |||||||||||||||||||||||||||||||||||
| Peñasquito | $ | 755 | $ | (5) | $ | 40 | $ | (14) | $ | 776 | $ | 355 | $ | 14 | $ | 1,145 | $ | 984 | |||||||||||||||||||||||||||||||||||
| 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 | |||||||||||||||||||||||||||||||||||
| Boddington | $ | 1,057 | $ | (24) | $ | 62 | $ | (39) | $ | 1,056 | $ | 193 | $ | 16 | $ | 1,265 | $ | 1,288 | |||||||||||||||||||||||||||||||||||
| Tanami | $ | 900 | $ | (2) | $ | 60 | $ | (11) | $ | 947 | $ | 300 | $ | 5 | $ | 1,252 | $ | 1,281 | |||||||||||||||||||||||||||||||||||
| Cadia | $ | 681 | $ | (103) | $ | 82 | $ | (7) | $ | 653 | $ | 263 | $ | 5 | $ | 921 | $ | 1,048 | |||||||||||||||||||||||||||||||||||
| Lihir | $ | 1,575 | $ | (1) | $ | 59 | $ | (363) | $ | 1,270 | $ | 270 | $ | 19 | $ | 1,559 | $ | 1,512 | |||||||||||||||||||||||||||||||||||
| Ahafo | $ | 644 | $ | (2) | $ | 199 | $ | 63 | $ | 904 | $ | 270 | $ | 9 | $ | 1,183 | $ | 1,072 | |||||||||||||||||||||||||||||||||||
| NGM | $ | 1,208 | $ | (60) | $ | 74 | $ | (3) | $ | 1,219 | $ | 413 | $ | 12 | $ | 1,644 | $ | 1,605 | |||||||||||||||||||||||||||||||||||
| Held for sale (6) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 (7) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 |
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(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.
(2)Per ounce measures may not recalculate due to rounding.
(3)Costs applicable to sales per ounce is calculated as the sum of Direct mining and production costs, By-product credits, Royalties and production taxes, and Write-downs and inventory change.
(4)Costs applicable to sales per ounce and All-in sustaining costs per ounce are non-GAAP financial measures. Refer to Non-GAAP Financial Measures within Part II, Item 7, MD&A.
(5)Total production costs is calculated as the sum of Costs applicable to sales, Depreciation and amortization, and Reclamation and remediation.
(6)Sites are classified as held for sale as of December 31, 2024. Refer to Note 3 to the Consolidated Financial Statements for further information.
(7)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.
| Mining and Production Detail (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Year Ended December 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| CC&V | 38,555 | — | — | 25,566 | — | 0.452 | —% | — | 172 | 172 | 171 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Musselwhite | — | 1,027 | 1,028 | — | 5.701 | — | 95.7% | 180 | — | 180 | 181 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Brucejack (3) | — | 167 | 166 | — | 5.685 | — | 96.0% | 29 | — | 29 | 36 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Red Chris (3) | 3,769 | — | 1,139 | — | 0.276 | — | 54.2% | 5 | — | 5 | 4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito | 96,099 | — | 20,850 | — | 0.429 | — | 57.0% | 143 | — | 143 | 130 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha | 62,173 | — | — | 19,682 | — | 0.494 | —% | — | 276 | 276 | 275 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Boddington | 61,543 | — | 36,467 | — | 0.754 | — | 85.4% | 745 | — | 745 | 749 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tanami | — | 2,314 | 2,369 | — | 6.012 | — | 98.3% | 448 | — | 448 | 444 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia (3) | — | 4,366 | 5,229 | — | 0.722 | — | 81.5% | 97 | — | 97 | 120 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Telfer (3) | 6,435 | 206 | 2,807 | — | 0.649 | — | 73.2% | 43 | — | 43 | 67 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lihir (3) | 6,395 | — | 2,061 | — | 2.567 | — | 76.5% | 134 | — | 134 | 131 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ahafo | 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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 |
____________________________
(1)All amounts are reported in thousands unless otherwise noted.
(2)Average ore grade reported in grams/tonne.
(3)Sites acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information.
(4)For the year ended December 31, 2023, 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 Ended December 31, 2023 | Direct Mining and Production Costs | By-Product Credits | Royalties and Production Taxes | Write-Downs and Inventory Change | Costs Applicable to Sales (3)(4) | Depreciation and Amortization | Reclamation and Remediation | Total Production Costs (5) | All-In Sustaining Costs per Ounce Sold (1)(2)(4) | ||||||||||||||||||||||||||||||||||||||||||||
| CC&V | $ | 1,327 | $ | (7) | $ | 121 | $ | (285) | $ | 1,156 | $ | 136 | $ | 59 | $ | 1,351 | $ | 1,644 | |||||||||||||||||||||||||||||||||||
| Musselwhite | $ | 1,152 | $ | (2) | $ | 48 | $ | (12) | $ | 1,186 | $ | 444 | $ | 17 | $ | 1,647 | $ | 1,843 | |||||||||||||||||||||||||||||||||||
| 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 | |||||||||||||||||||||||||||||||||||
| Brucejack (6) | $ | 1,484 | $ | (41) | $ | 30 | $ | 425 | $ | 1,898 | $ | 617 | $ | — | $ | 2,515 | $ | 2,646 | |||||||||||||||||||||||||||||||||||
| Red Chris (6) | $ | 1,825 | $ | (1) | $ | 27 | $ | (946) | $ | 905 | $ | 298 | $ | 15 | $ | 1,218 | $ | 1,439 | |||||||||||||||||||||||||||||||||||
| Peñasquito | $ | 1,296 | $ | (6) | $ | 33 | $ | (104) | $ | 1,219 | $ | 516 | $ | 28 | $ | 1,763 | $ | 1,590 | |||||||||||||||||||||||||||||||||||
| 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 | |||||||||||||||||||||||||||||||||||
| Yanacocha | $ | 1,122 | $ | (16) | $ | 59 | $ | (96) | $ | 1,069 | $ | 310 | $ | 20 | $ | 1,399 | $ | 1,266 | |||||||||||||||||||||||||||||||||||
| Boddington | $ | 822 | $ | (17) | $ | 49 | $ | (7) | $ | 847 | $ | 144 | $ | 12 | $ | 1,003 | $ | 1,067 | |||||||||||||||||||||||||||||||||||
| Tanami | $ | 704 | $ | (2) | $ | 51 | $ | 6 | $ | 759 | $ | 249 | $ | 4 | $ | 1,012 | $ | 1,060 | |||||||||||||||||||||||||||||||||||
| Cadia (6) | $ | 477 | $ | (59) | $ | 51 | $ | 610 | $ | 1,079 | $ | 130 | $ | 1 | $ | 1,210 | $ | 1,271 | |||||||||||||||||||||||||||||||||||
| Telfer (6) | $ | 1,360 | $ | (9) | $ | 60 | $ | 471 | $ | 1,882 | $ | 87 | $ | — | $ | 1,969 | $ | 1,988 | |||||||||||||||||||||||||||||||||||
| Lihir (6) | $ | 1,235 | $ | (2) | $ | 50 | $ | (166) | $ | 1,117 | $ | 153 | $ | — | $ | 1,270 | $ | 1,517 | |||||||||||||||||||||||||||||||||||
| Ahafo | $ | 820 | $ | (1) | $ | 141 | $ | (13) | $ | 947 | $ | 312 | $ | 11 | $ | 1,270 | $ | 1,222 | |||||||||||||||||||||||||||||||||||
| Akyem | $ | 826 | $ | (6) | $ | 115 | $ | (4) | $ | 931 | $ | 413 | $ | 40 | $ | 1,384 | $ | 1,210 | |||||||||||||||||||||||||||||||||||
| 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 |
____________________________
(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.
(2)Per ounce measures may not recalculate due to rounding.
(3)Costs applicable to sales per ounce is calculated as the sum of Direct mining and production costs, By-product credits, Royalties and production taxes, and Write-downs and inventory change.
(4)Costs applicable to sales per ounce and All-in sustaining costs per ounce are non-GAAP financial measures. Refer to Non-GAAP Financial Measures within Part II, Item 7, MD&A.
(5)Total production costs is calculated as the sum of Costs applicable to sales, Depreciation and amortization, and Reclamation and remediation.
(6)Sites acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information.
| Mining and Production Detail (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Year Ended December 31, 2022 | 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 | Attributable (3) | Consolidated | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| CC&V | 32,632 | — | 64 | 18,814 | 1.568 | 0.428 | 38.2% | 4 | 178 | 182 | 182 | 185 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Musselwhite | — | 1,043 | 1,042 | — | 5.404 | — | 95.7% | 173 | — | 173 | 173 | 172 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Porcupine | 7,866 | 751 | 3,410 | — | 2.794 | — | 92.7% | 280 | — | 280 | 280 | 280 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Éléonore | — | 1,537 | 1,535 | — | 4.740 | — | 91.6% | 215 | — | 215 | 215 | 217 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito | 178,890 | — | 35,928 | — | 0.702 | — | 75.2% | 566 | — | 566 | 566 | 573 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Merian | 36,381 | — | 14,201 | — | 0.942 | — | 94.2% | 403 | — | 403 | 302 | 403 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cerro Negro | — | 946 | 930 | — | 9.840 | — | 93.6% | 278 | — | 278 | 278 | 281 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha | 60,939 | — | — | 20,600 | — | 0.453 | —% | — | 244 | 244 | 230 | 250 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Boddington | 59,270 | — | 37,240 | — | 0.801 | — | 84.7% | 798 | — | 798 | 798 | 813 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tanami | — | 2,643 | 2,590 | — | 5.941 | — | 98.0% | 484 | — | 484 | 484 | 486 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ahafo | 30,147 | 1,708 | 10,789 | — | 1.765 | — | 92.5% | 574 | — | 574 | 574 | 572 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Akyem | 29,077 | — | 8,195 | — | 1.750 | — | 89.5% | 420 | — | 420 | 420 | 415 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM | 103,158 | 2,521 | 13,655 | 8,178 | 3.205 | 0.467 | 74.9% | 1,051 | 118 | 1,169 | 1,169 | 1,165 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Gold (4) | 538,360 | 11,149 | 129,579 | 47,592 | 1.487 | 0.446 | 85.5% | 5,246 | 540 | 5,786 | 5,671 | 5,812 |
____________________________
(1)All amounts are reported in thousands unless otherwise noted.
(2)Average ore grade reported in grams/tonne.
(3)Attributable ounces produced for Merian reflects our 75% ownership interest. The Company recognized amounts attributable to noncontrolling interest for Yanacocha for attributable ounces produced during the periods prior to acquiring Buenaventura's 43.65% interest and Sumitomo Corporation's 5.0% interest in the first half of 2022. Refer to Note 1 to the Consolidated Financial Statement for further information.
(4)Total gold consolidated ounces produced excludes 285 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 Ended December 31, 2022 | Direct Mining and Production Costs | By-Product Credits | Royalties and Production Taxes | Write-Downs and Inventory Change | Costs Applicable to Sales (3)(4) | Depreciation and Amortization | Reclamation and Remediation | Total Production Costs (5) | All-In Sustaining Costs per Ounce Sold (1)(2)(4) | ||||||||||||||||||||||||||||||||||||||||||||
| CC&V | $ | 1,141 | $ | (9) | $ | 80 | $ | 90 | $ | 1,302 | $ | 386 | $ | 28 | $ | 1,716 | $ | 1,697 | |||||||||||||||||||||||||||||||||||
| Musselwhite | $ | 1,109 | $ | (3) | $ | 35 | $ | (6) | $ | 1,135 | $ | 464 | $ | 13 | $ | 1,612 | $ | 1,531 | |||||||||||||||||||||||||||||||||||
| Porcupine | $ | 1,012 | $ | (4) | $ | 31 | $ | (35) | $ | 1,004 | $ | 369 | $ | 8 | $ | 1,381 | $ | 1,248 | |||||||||||||||||||||||||||||||||||
| Éléonore | $ | 1,183 | $ | (1) | $ | 40 | $ | 6 | $ | 1,228 | $ | 531 | $ | 7 | $ | 1,766 | $ | 1,599 | |||||||||||||||||||||||||||||||||||
| Peñasquito | $ | 728 | $ | (5) | $ | 31 | $ | 17 | $ | 771 | $ | 258 | $ | 8 | $ | 1,037 | $ | 968 | |||||||||||||||||||||||||||||||||||
| Merian | $ | 815 | $ | (1) | $ | 108 | $ | (7) | $ | 915 | $ | 199 | $ | 5 | $ | 1,119 | $ | 1,105 | |||||||||||||||||||||||||||||||||||
| Cerro Negro | $ | 1,031 | $ | (106) | $ | 84 | $ | (2) | $ | 1,007 | $ | 525 | $ | 9 | $ | 1,541 | $ | 1,262 | |||||||||||||||||||||||||||||||||||
| Yanacocha | $ | 1,170 | $ | (12) | $ | 56 | $ | 40 | $ | 1,254 | $ | 380 | $ | 24 | $ | 1,658 | $ | 1,477 | |||||||||||||||||||||||||||||||||||
| Boddington | $ | 757 | $ | (12) | $ | 46 | $ | 11 | $ | 802 | $ | 145 | $ | 10 | $ | 957 | $ | 921 | |||||||||||||||||||||||||||||||||||
| Tanami | $ | 647 | $ | (2) | $ | 45 | $ | (15) | $ | 675 | $ | 207 | $ | 3 | $ | 885 | $ | 960 | |||||||||||||||||||||||||||||||||||
| Ahafo | $ | 809 | $ | (1) | $ | 114 | $ | 68 | $ | 990 | $ | 292 | $ | 7 | $ | 1,289 | $ | 1,178 | |||||||||||||||||||||||||||||||||||
| Akyem | $ | 621 | $ | (3) | $ | 136 | $ | 50 | $ | 804 | $ | 340 | $ | 14 | $ | 1,158 | $ | 972 | |||||||||||||||||||||||||||||||||||
| NGM | $ | 1,002 | $ | (49) | $ | 54 | $ | (18) | $ | 989 | $ | 404 | $ | 8 | $ | 1,401 | $ | 1,220 | |||||||||||||||||||||||||||||||||||
| Total Gold | $ | 875 | $ | (19) | $ | 66 | $ | 11 | $ | 933 | $ | 322 | $ | 10 | $ | 1,265 | $ | 1,211 |
____________________________
(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.
(2)Per ounce measures may not recalculate due to rounding.
(3)Costs applicable to sales per ounce is calculated as the sum of Direct mining and production costs, By-product credits, Royalties and production taxes, and Write-downs and inventory change.
(4)Costs applicable to sales per ounce and All-in sustaining costs per ounce are non-GAAP financial measures. Refer to Non-GAAP Financial Measures within Part II, Item 7, MD&A.
(5)Total production costs is calculated as the sum of Costs applicable to sales, Depreciation and amortization, and Reclamation and remediation.
The following tables detail operating statistics related to co-product metal production and sales:
| Year Ended December 31, 2024 | Tonnes Milled (000 tonnes) | Average Milled Grade | Average Mill Recovery Rate | Consolidated Pounds/Ounces Produced (millions) | Consolidated Pounds/Ounces Sold (millions) | ||||||||||||||||||||||||
| Copper (pounds) | |||||||||||||||||||||||||||||
| Red Chris | 6,293 | 0.52% | 83.4% | 58 | 57 | ||||||||||||||||||||||||
| Boddington | 34,936 | 0.14% | 83.1% | 83 | 83 | ||||||||||||||||||||||||
| Cadia | 29,824 | 0.36% | 84.5% | 191 | 186 | ||||||||||||||||||||||||
| Telfer (4) | 3,665 | 0.11% | 73.8% | 6 | 6 | ||||||||||||||||||||||||
| Total Copper | 74,718 | 0.26% | 83.7% | 338 | 332 | ||||||||||||||||||||||||
| Silver (ounces) (1) | 32,896 | 42.61 | 81.3% | 33 | 33 | ||||||||||||||||||||||||
| Lead (pounds) (1) | 32,896 | 0.41% | 75.9% | 212 | 213 | ||||||||||||||||||||||||
| Zinc (pounds) (1) | 32,896 | 1.13% | 83.0% | 569 | 545 |
| Year Ended December 31, 2023 | Tonnes Milled (000 tonnes) | Average Milled Grade | Average Mill Recovery Rate | Consolidated Pounds/Ounces Produced (millions) | Consolidated Pounds/Ounces Sold (millions) | ||||||||||||||||||||||||
| Copper (pounds) | |||||||||||||||||||||||||||||
| Red Chris (2) | 1,139 | 0.40% | 81.2% | 8 | 7 | ||||||||||||||||||||||||
| Boddington | 36,467 | 0.16% | 84.2% | 98 | 98 | ||||||||||||||||||||||||
| Cadia (2) | 5,229 | 0.38% | 85.3% | 36 | 45 | ||||||||||||||||||||||||
| Telfer (2) | 2,807 | 0.08% | 59.3% | 3 | 5 | ||||||||||||||||||||||||
| Total Copper | 45,642 | 0.18% | 83.6% | 145 | 155 | ||||||||||||||||||||||||
| Silver (ounces) (1) | 20,850 | 36.65 | 79.1% | 18 | 17 | ||||||||||||||||||||||||
| Lead (pounds) (1) | 20,850 | 0.37% | 69.3% | 113 | 107 | ||||||||||||||||||||||||
| Zinc (pounds) (1) | 20,850 | 0.78% | 78.5% | 230 | 222 |
| Year Ended December 31, 2022 | Tonnes Milled (000 tonnes) | Average Milled Grade | Average Mill Recovery Rate | Consolidated Pounds/Ounces Produced (millions) | Consolidated Pounds/Ounces Sold (millions) | ||||||||||||||||||||||||
| Copper (pounds) (3) | 37,240 | 0.14% | 81.5% | 84 | 85 | ||||||||||||||||||||||||
| Silver (ounces) (1) | 35,928 | 32.27 | 86.8% | 30 | 30 | ||||||||||||||||||||||||
| Lead (pounds) (1) | 35,928 | 0.27% | 74.7% | 149 | 147 | ||||||||||||||||||||||||
| Zinc (pounds) (1) | 35,928 | 0.70% | 81.3% | 377 | 373 |
____________________________
(1)For the years ended December 31, 2024, 2023 and 2022, all of our silver, lead, and zinc co-product production came from Peñasquito.
(2)Sites acquired through the Newcrest transaction in 2023. Refer to Note 3 to the Consolidated Financial Statements for further information.
(3)For the year ended December 31, 2022, all of our copper co-product production came from Boddington.
(4)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.
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 in the table below:
| Gold | Copper | Silver | Lead | Zinc | |||||||||||||||||||||||||
| (ounce) | (pound) | (ounce) | (pound) | (pound) | |||||||||||||||||||||||||
| 2024 GEO Price | $ | 1,400 | $ | 3.50 | $ | 20.00 | $ | 1.00 | $ | 1.20 | |||||||||||||||||||
| 2023 GEO Price | $ | 1,400 | $ | 3.50 | $ | 20.00 | $ | 1.00 | $ | 1.20 | |||||||||||||||||||
| 2022 GEO Price | $ | 1,200 | $ | 3.25 | $ | 23.00 | $ | 0.95 | $ | 1.15 |
| Year Ended December 31, 2024 | Red Chris | Peñasquito | Boddington | Cadia | Telfer (4) | Total / Weighted-Average | |||||||||||||||||||||||||||||
| Consolidated GEO sold (thousands) | 142 | 1,088 | 205 | 465 | 16 | 1,916 | |||||||||||||||||||||||||||||
| Production costs per GEO sold: (1)(3) | |||||||||||||||||||||||||||||||||||
| Costs applicable to sales (2) | $ | 1,209 | $ | 831 | $ | 994 | $ | 603 | $ | 2,398 | $ | 834 | |||||||||||||||||||||||
| Depreciation and amortization | 366 | 343 | 189 | 263 | 161 | 307 | |||||||||||||||||||||||||||||
| Reclamation and remediation | 37 | 15 | 16 | 5 | 106 | 15 | |||||||||||||||||||||||||||||
| Total production costs per GEO sold | $ | 1,612 | $ | 1,189 | $ | 1,199 | $ | 871 | $ | 2,665 | $ | 1,156 | |||||||||||||||||||||||
| All-in sustaining costs per GEO sold (1)(2)(3) | $ | 1,640 | $ | 1,090 | $ | 1,172 | $ | 987 | $ | 2,885 | $ | 1,161 |
| Year Ended December 31, 2023 | Red Chris (5) | Peñasquito | Boddington | Cadia (5) | Telfer (5) | Total / Weighted-Average | |||||||||||||||||||||||||||||
| Consolidated GEO sold (thousands) | 16 | 507 | 246 | 114 | 13 | 896 | |||||||||||||||||||||||||||||
| Production costs per GEO sold: (1)(3) | |||||||||||||||||||||||||||||||||||
| Costs applicable to sales (2) | $ | 1,020 | $ | 1,283 | $ | 830 | $ | 1,017 | $ | 1,703 | $ | 1,127 | |||||||||||||||||||||||
| Depreciation and amortization | 181 | 561 | 144 | 127 | 109 | 378 | |||||||||||||||||||||||||||||
| Reclamation and remediation | — | 28 | 12 | — | 6 | 19 | |||||||||||||||||||||||||||||
| Total production costs per GEO sold | $ | 1,201 | $ | 1,872 | $ | 986 | $ | 1,144 | $ | 1,818 | $ | 1,524 | |||||||||||||||||||||||
| All-in sustaining costs per GEO sold (1)(2)(3) | $ | 1,660 | $ | 1,756 | $ | 1,067 | $ | 1,342 | $ | 2,580 | $ | 1,579 |
| Year Ended Year ended December 31, 2022 | Peñasquito | Boddington | Total / Weighted-Average | ||||||||||||||
| Consolidated GEO sold (thousands) | 1,044 | 231 | 1,275 | ||||||||||||||
| Production costs per GEO sold: (1)(3) | |||||||||||||||||
| Costs applicable to sales (2) | $ | 828 | $ | 782 | $ | 819 | |||||||||||
| Depreciation and amortization | 267 | 145 | 245 | ||||||||||||||
| Reclamation and remediation | 8 | 9 | 9 | ||||||||||||||
| Total production costs per GEO sold | $ | 1,103 | $ | 936 | $ | 1,073 | |||||||||||
| All-in sustaining costs per GEO sold (1)(2)(3) | $ | 1,112 | $ | 894 | $ | 1,114 |
____________________________
(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.
(2)Costs applicable to sales per GEO and All-in sustaining costs per GEO are non-GAAP financial measures. Refer to Non-GAAP Financial Measures within Part II, Item 7, MD&A.
(3)Per GEO measures may not recalculate due to rounding.
(4)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.
(5)Sites acquired through the Newcrest transaction in 2023. Refer to Note 3 to the Consolidated Financial Statements for further information.
Proven and Probable Reserves
All of our reserves are located on land (i) we own or control, or (ii) that is owned or controlled by business entities established with our joint venture partners, in which the Company owns its pro-rata share of the capital stock, membership units, or interests. The risks that could affect title to our property are included above in Item 1A, Risk Factors.
A “mineral reserve” is an estimate of tonnage and grade or quality of indicated and measured mineral resources that, in the opinion of the qualified person, can be the basis of an economically viable project. More specifically, it is the economically mineable part of a measured or indicated mineral resource, which includes diluting materials and allowances for losses that may occur when the material is mined or extracted. The term “economically viable,” as used in the definition of reserve, means that the qualified person has analytically determined that extraction of the mineral reserve is economically viable under reasonable investment and market assumptions.
The term “proven reserves” means the economically mineable part of a measured mineral resource and can only result from conversion of a measured mineral resource. The term “probable reserves” means reserves for which quantity and grade are computed from information similar to that used for proven reserves, but the sites for sampling are farther apart or are otherwise less closely spaced. The degree of assurance, although lower than that for proven reserves, is high enough to assume continuity between points of observation. Proven and probable reserves include gold, copper, silver, lead, zinc or molybdenum attributable to Newmont’s ownership or economic interest.
Proven and probable reserves are based on extensive drilling, sampling, mine modeling and metallurgical testing from which we determined economic feasibility. The reference point for mineral reserves is the point of delivery to the process plant. Metal price assumptions, adjusted for our exchange rate assumption, are based on considering such factors as market forecasts, industry consensus and management estimates. The price sensitivity of reserves depends upon several factors including grade, metallurgical recovery, operating cost, waste-to-ore ratio and ore type. Metallurgical recovery rates vary depending on the metallurgical properties of each deposit and the production process used. The reserve tables below list the average metallurgical recovery rate for each deposit, which takes into account the relevant processing methods. The cut-off grade, or lowest grade of mineralization considered economic to process, varies between deposits depending upon prevailing economic conditions, mineability of the deposit, by-products, amenability of the ore to gold, copper, silver, lead, zinc or molybdenum extraction and type of milling or leaching facilities available. Reserve estimates may have non-material differences in comparison to our joint venture partners due to differences in classification and rounding methodology.
The proven and probable reserve figures presented herein are estimates based on information available at the time of calculation. No assurance can be given that the indicated levels of recovery of gold, copper, silver, lead, zinc and molybdenum will be realized. Ounces of gold or silver or pounds of copper, lead, zinc or molybdenum included in the proven and probable reserves are those contained prior to losses during metallurgical treatment. Reserve estimates may require revision based on actual production. Market fluctuations in the price of gold, copper, silver, lead, zinc and molybdenum, as well as increased production costs or reduced metallurgical recovery rates, could render certain proven and probable reserves containing higher cost reserves uneconomic to exploit and might result in a reduction of reserves.
We had attributable proven and probable gold reserves of 134.1 million ounces at December 31, 2024. For 2024 and 2023, reserves were estimated at a gold price assumption of $1,700 and $1,400 per ounce, respectively, except as noted below. The increase in the reserves gold price assumption is based on the Company's assessment of multiple factors, including historical gold pricing trends, consensus price forecasts, and impacts of inflation. We estimate that our 2024 reserves would increase by 6% (7.4 million ounces), or decline by 6% (7.6 million ounces), if the gold price assumption increased or decreased $100 per ounce, respectively, with all other assumptions remaining constant.
We publish reserves annually, and will recalculate reserves at December 31, 2025, taking into account metal prices, changes, if any, to future production and capital costs, divestments and depletion as well as any acquisitions and additions during 2025.
The Company has internal controls for reviewing and documenting the information supporting the mineral reserve and mineral resource estimates, describing the methods used, and ensuring the validity of the estimates. Information that is utilized to compile mineral reserves and resources is prepared and certified by appropriately qualified persons at the mine site level and is subject to our internal review process which includes review by the Newmont-designated site and the Qualified Person (“QP”) based in our corporate office in Denver, Colorado. Additionally, all material sites are audited every three years and the non-material sites on a four-year cycle by subject matter experts for compliance to internal standards and guidelines as well as regulatory requirements. The QP presents the mineral reserve and mineral resource information to the Audit Committee and the Disclosure Committee on an annual basis for further review.
The following tables detail gold proven and probable reserves reflecting only those reserves attributable to Newmont’s ownership or economic interest at December 31, 2024 and 2023.
| Gold Reserves at December 31, 2024 (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Proven Reserves | Probable Reserves | Proven and Probable Reserves | Metallurgical Recovery (3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (2) (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (2) (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (2) (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Brucejack, Canada | 100% | — | — | — | 8,600 | 6.95 | 1,900 | 8,600 | 6.95 | 1,900 | 96% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Red Chris Open Pit | 70% | — | — | — | 14,700 | 0.39 | 100 | 14,700 | 0.39 | 100 | 52% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Red Chris Underground (4) | 70% | — | — | — | 171,700 | 0.64 | 3,500 | 171,700 | 0.64 | 3,500 | 70% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Red Chris, Canada | 70% | — | — | — | 186,400 | 0.62 | 3,700 | 186,400 | 0.62 | 3,700 | 69% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito Open Pits | 100% | 93,900 | 0.58 | 1,700 | 130,800 | 0.48 | 2,000 | 224,700 | 0.52 | 3,800 | 62% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito Stockpiles (5) | 100% | 4,700 | 0.60 | 100 | 27,300 | 0.21 | 200 | 32,000 | 0.26 | 300 | 37% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Peñasquito, Mexico (6) | 100% | 98,600 | 0.58 | 1,800 | 158,100 | 0.44 | 2,200 | 256,600 | 0.49 | 4,100 | 60% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Merian, Suriname | 75% | 23,400 | 1.26 | 900 | 87,300 | 1.14 | 3,200 | 110,700 | 1.16 | 4,100 | 93% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cerro Negro, Argentina | 100% | 2,200 | 11.84 | 800 | 7,100 | 10.50 | 2,400 | 9,300 | 10.82 | 3,200 | 94% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha Open Pit | 100% | 17,700 | 0.90 | 500 | 96,300 | 0.78 | 2,500 | 114,100 | 0.80 | 2,900 | 55% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha Underground | 100% | — | — | — | 12,300 | 6.06 | 2,400 | 12,300 | 6.06 | 2,400 | 97% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Yanacocha, Peru (7) | 100% | 17,800 | 0.90 | 500 | 108,600 | 1.38 | 4,800 | 126,400 | 1.31 | 5,300 | 74% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pueblo Viejo Open Pit | 40% | 32,200 | 2.27 | 2,300 | 49,500 | 2.04 | 3,300 | 81,700 | 2.13 | 5,600 | 88% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pueblo Viejo Stockpiles (5) | 40% | — | — | — | 38,800 | 2.07 | 2,600 | 38,800 | 2.07 | 2,600 | 83% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Pueblo Viejo, Dominican Republic (8)(19) | 40% | 32,200 | 2.27 | 2,300 | 88,300 | 2.06 | 5,800 | 120,500 | 2.11 | 8,200 | 86% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NuevaUnión, Chile (9)(19) | 50% | — | — | — | 341,100 | 0.47 | 5,100 | 341,100 | 0.47 | 5,100 | 66% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Norte Abierto, Chile (10)(19) | 50% | — | — | — | 598,800 | 0.60 | 11,600 | 598,800 | 0.60 | 11,600 | 74% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Boddington Open Pit | 100% | 276,500 | 0.64 | 5,600 | 219,200 | 0.61 | 4,300 | 495,700 | 0.62 | 9,900 | 84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Boddington Stockpiles (5) | 100% | 2,100 | 0.67 | — | 61,900 | 0.42 | 800 | 64,100 | 0.43 | 900 | 83% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Boddington, Australia (11) | 100% | 278,600 | 0.64 | 5,700 | 281,200 | 0.57 | 5,100 | 559,800 | 0.60 | 10,800 | 84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tanami, Australia | 100% | 10,100 | 5.25 | 1,700 | 19,800 | 5.28 | 3,400 | 29,900 | 5.27 | 5,100 | 98% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia, Australia (12) | 100% | — | — | — | 1,051,800 | 0.42 | 14,100 | 1,051,800 | 0.42 | 14,100 | 81% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lihir Open Pits | 100% | — | — | — | 125,900 | 2.86 | 11,600 | 125,900 | 2.86 | 11,600 | 77% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lihir Stockpiles (5) | 100% | — | — | — | 77,100 | 1.68 | 4,200 | 77,100 | 1.68 | 4,200 | 77% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Lihir, Papua New Guinea (13) | 100% | — | — | — | 203,000 | 2.41 | 15,800 | 203,000 | 2.41 | 15,800 | 77% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wafi-Golpu, Papua New Guinea (14)(19) | 50% | — | — | — | 194,500 | 0.82 | 5,100 | 194,500 | 0.82 | 5,100 | 68% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ahafo South Open Pit | 100% | 2,400 | 2.64 | 200 | 39,700 | 1.57 | 2,000 | 42,000 | 1.63 | 2,200 | 89% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ahafo South Underground | 100% | 6,100 | 2.97 | 600 | 15,200 | 2.36 | 1,200 | 21,300 | 2.54 | 1,700 | 94% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ahafo South Stockpiles (5) | 100% | 21,700 | 0.97 | 700 | — | — | — | 21,700 | 0.97 | 700 | 91% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Ahafo South, Ghana | 100% | 30,200 | 1.51 | 1,500 | 54,800 | 1.79 | 3,200 | 85,000 | 1.69 | 4,600 | 91% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ahafo North, Ghana | 100% | — | — | — | 62,000 | 2.32 | 4,600 | 62,000 | 2.32 | 4,600 | 91% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM Open Pit (15) | 38.5% | — | — | — | 124,200 | 1.16 | 4,600 | 124,200 | 1.16 | 4,600 | 77% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM Stockpiles (5)(16) | 38.5% | 16,400 | 1.86 | 1,000 | 12,900 | 2.35 | 1,000 | 29,200 | 2.08 | 2,000 | 69% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM Underground (17) | 38.5% | 4,000 | 11.28 | 1,400 | 39,700 | 7.73 | 9,900 | 43,700 | 8.06 | 11,300 | 89% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total NGM, United States (18)(23) | 38.5% | 20,400 | 3.69 | 2,400 | 176,800 | 2.72 | 15,500 | 197,100 | 2.82 | 17,900 | 84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Held for sale (20) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| CC&V Open Pit | 100% | 87,000 | 0.43 | 1,200 | 28,600 | 0.43 | 400 | 115,600 | 0.43 | 1,600 | 58% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| CC&V Leach Pads (21) | 100% | — | — | — | 34,600 | 0.73 | 800 | 34,600 | 0.73 | 800 | 55% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total CC&V, United States | 100% | 87,000 | 0.43 | 1,200 | 63,200 | 0.60 | 1,200 | 150,200 | 0.50 | 2,400 | 57% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Musselwhite, Canada | 100% | 4,100 | 6.69 | 900 | 3,200 | 6.10 | 600 | 7,400 | 6.43 | 1,500 | 96% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Porcupine Underground | 100% | 1,600 | 5.09 | 300 | 2,700 | 7.27 | 600 | 4,400 | 6.45 | 900 | 89% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Porcupine Open Pit | 100% | 300 | 2.09 | — | 30,200 | 1.46 | 1,500 | 30,600 | 1.46 | 1,500 | 93% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Porcupine, Canada | 100% | 2,000 | 4.57 | 300 | 33,000 | 1.94 | 2,100 | 34,900 | 2.09 | 2,300 | 92% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Éléonore, Canada | 100% | 2,200 | 4.86 | 300 | 7,900 | 5.10 | 1,300 | 10,100 | 5.05 | 1,600 | 92% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Akyem Open Pit | 100% | 12,700 | 1.52 | 600 | 5,500 | 1.58 | 300 | 18,200 | 1.54 | 900 | 90% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Akyem Stockpiles (5) | 100% | 700 | 0.72 | — | — | — | — | 700 | 0.72 | — | 90% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Akyem, Ghana (22) | 100% | 13,500 | 1.48 | 600 | 5,500 | 1.58 | 300 | 19,000 | 1.50 | 900 | 90% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Gold | 622,100 | 1.06 | 21,100 | 3,741,000 | 0.94 | 113,000 | 4,363,000 | 0.96 | 134,100 | 81% |
| Gold Reserves at December 31, 2023 (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Proven Reserves | Probable Reserves | Proven and Probable Reserves | Metallurgical Recovery (3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (2) (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (2) (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (2) (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| CC&V Open Pit | 100% | 38,800 | 0.42 | 500 | 7,800 | 0.35 | 100 | 46,600 | 0.40 | 600 | 58% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| CC&V Leach Pads (21) | 100% | — | — | — | 28,300 | 0.74 | 700 | 28,300 | 0.74 | 700 | 56% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total CC&V, United States | 100% | 38,800 | 0.42 | 500 | 36,100 | 0.66 | 800 | 75,000 | 0.53 | 1,300 | 57% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Musselwhite, Canada | 100% | 3,200 | 6.78 | 700 | 3,800 | 6.30 | 800 | 7,000 | 6.52 | 1,500 | 96% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Porcupine Underground | 100% | 1,400 | 7.06 | 300 | 1,600 | 8.34 | 400 | 3,000 | 7.75 | 700 | 94% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Porcupine Open Pit | 100% | 3,200 | 1.43 | 100 | 26,600 | 1.54 | 1,300 | 29,700 | 1.53 | 1,500 | 93% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Porcupine, Canada | 100% | 4,500 | 3.14 | 500 | 28,200 | 1.93 | 1,700 | 32,700 | 2.10 | 2,200 | 93% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Éléonore, Canada | 100% | 2,100 | 5.08 | 300 | 6,800 | 5.47 | 1,200 | 8,900 | 5.38 | 1,500 | 92% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Brucejack, Canada (24) | 100% | — | — | — | 11,500 | 8.44 | 3,100 | 11,500 | 8.44 | 3,100 | 96% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Red Chris Open Pit | 70% | — | — | — | 30,200 | 0.37 | 300 | 30,200 | 0.37 | 300 | 53% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Red Chris Underground | 70% | — | — | — | 171,700 | 0.64 | 3,500 | 171,700 | 0.64 | 3,500 | 70% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Red Chris, Canada (24) | 70% | — | — | — | 201,900 | 0.60 | 3,900 | 201,900 | 0.60 | 3,900 | 68% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito Open Pits | 100% | 121,700 | 0.57 | 2,200 | 142,800 | 0.49 | 2,200 | 264,500 | 0.53 | 4,500 | 59% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito Stockpiles (5) | 100% | 2,000 | 0.36 | — | 24,500 | 0.19 | 200 | 26,500 | 0.20 | 200 | 59% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Peñasquito, Mexico (23) | 100% | 123,700 | 0.57 | 2,200 | 167,300 | 0.44 | 2,400 | 291,000 | 0.50 | 4,600 | 59% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Merian, Suriname | 75% | 29,600 | 1.19 | 1,100 | 74,400 | 1.15 | 2,800 | 104,000 | 1.16 | 3,900 | 93% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cerro Negro, Argentina | 100% | 1,900 | 11.81 | 700 | 7,300 | 10.75 | 2,500 | 9,200 | 10.97 | 3,200 | 94% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha Open Pits | 100% | 21,700 | 0.80 | 600 | 107,000 | 0.75 | 2,600 | 128,600 | 0.76 | 3,200 | 56% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha Underground | 100% | — | — | — | 12,300 | 6.06 | 2,400 | 12,300 | 6.06 | 2,400 | 97% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Yanacocha, Peru | 100% | 21,700 | 0.80 | 600 | 119,200 | 1.30 | 5,000 | 140,900 | 1.22 | 5,500 | 73% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pueblo Viejo Open Pit | 40% | 25,800 | 2.28 | 1,900 | 50,800 | 2.08 | 3,400 | 76,600 | 2.15 | 5,300 | 82% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pueblo Viejo Stockpiles (5) | 40% | — | — | — | 39,700 | 2.12 | 2,700 | 39,700 | 2.12 | 2,700 | 83% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Pueblo Viejo, Dominican Republic (8)(19) | 40% | 25,800 | 2.28 | 1,900 | 90,500 | 2.10 | 6,100 | 116,300 | 2.14 | 8,000 | 82% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NuevaUnión, Chile (9)(19) | 50% | — | — | — | 341,100 | 0.47 | 5,100 | 341,100 | 0.47 | 5,100 | 66% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Norte Abierto, Chile (10)(19) | 50% | — | — | — | 598,800 | 0.60 | 11,600 | 598,800 | 0.60 | 11,600 | 74% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Boddington Open Pit | 100% | 215,300 | 0.67 | 4,600 | 192,600 | 0.64 | 3,900 | 407,900 | 0.66 | 8,600 | 85% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Boddington Stockpiles (5) | 100% | 2,000 | 0.72 | — | 70,000 | 0.43 | 1,000 | 72,000 | 0.44 | 1,000 | 80% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Boddington, Australia | 100% | 217,300 | 0.67 | 4,700 | 262,600 | 0.58 | 4,900 | 479,900 | 0.62 | 9,600 | 84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tanami, Australia | 100% | 9,900 | 5.58 | 1,800 | 16,600 | 5.71 | 3,100 | 26,600 | 5.66 | 4,800 | 98% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia, Australia (23)(24) | 100% | — | — | — | 1,102,300 | 0.42 | 14,700 | 1,102,300 | 0.42 | 14,700 | 81% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lihir Open Pits | 100% | — | — | — | 159,900 | 2.76 | 14,200 | 159,900 | 2.76 | 14,200 | 78% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lihir Stockpiles (5) | 100% | — | — | — | 57,200 | 1.83 | 3,400 | 57,200 | 1.83 | 3,400 | 78% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Lihir, Papua New Guinea (23)(24) | 100% | — | — | — | 217,100 | 2.51 | 17,500 | 217,100 | 2.51 | 17,500 | 78% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wafi-Golpu, Papua New Guinea (19)(24) | 50% | — | — | — | 194,500 | 0.82 | 5,100 | 194,500 | 0.82 | 5,100 | 68% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ahafo South Open Pit | 100% | 5,200 | 2.76 | 500 | 35,500 | 1.68 | 1,900 | 40,700 | 1.82 | 2,400 | 90% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ahafo South Underground | 100% | 8,300 | 3.13 | 800 | 14,300 | 2.35 | 1,100 | 22,600 | 2.64 | 1,900 | 94% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ahafo South Stockpiles (5) | 100% | 23,400 | 1.01 | 800 | — | — | — | 23,400 | 1.01 | 800 | 91% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Ahafo South, Ghana | 100% | 36,900 | 1.73 | 2,100 | 49,800 | 1.88 | 3,000 | 86,700 | 1.82 | 5,100 | 92% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ahafo North, Ghana | 100% | 26,000 | 2.38 | 2,000 | 27,100 | 2.43 | 2,100 | 53,100 | 2.41 | 4,100 | 91% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Akyem Open Pit | 100% | 13,000 | 1.52 | 600 | 5,900 | 1.61 | 300 | 19,000 | 1.55 | 900 | 90% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Akyem Stockpiles (5) | 100% | 6,700 | 0.78 | 200 | — | — | — | 6,700 | 0.78 | 200 | 90% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Akyem, Ghana | 100% | 19,700 | 1.27 | 800 | 5,900 | 1.61 | 300 | 25,600 | 1.35 | 1,100 | 90% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM Open Pit | 38.5% | — | — | — | 154,700 | 1.01 | 5,000 | 154,700 | 1.01 | 5,000 | 77% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM Stockpiles (5) | 38.5% | 15,100 | 2.01 | 1,000 | 14,000 | 2.44 | 1,100 | 29,100 | 2.22 | 2,100 | 69% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM Underground | 38.5% | 5,100 | 11.58 | 1,900 | 35,100 | 8.19 | 9,300 | 40,200 | 8.62 | 11,100 | 87% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total NGM, United States (18) | 38.5% | 20,200 | 4.42 | 2,900 | 203,900 | 2.35 | 15,400 | 224,100 | 2.54 | 18,300 | 82% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Gold | 581,400 | 1.22 | 22,800 | 3,766,800 | 0.94 | 113,200 | 4,348,100 | 0.97 | 135,900 | 80% |
____________________________
(1)At December 31, 2024 and 2023, gold reserves at sites for which Newmont is the operator were estimated at a gold price of $1,700 and $1,400 per ounce, respectively, unless otherwise noted. Reserves provided by other operators may use pricing that differs. Amounts presented may not recalculate in total due to rounding.
(2)Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to the nearest 100,000.
(3)Ounces are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Ounces may not recalculate as they are rounded to the nearest 100,000.
(4)Gold reserves at December 31, 2024 were estimated at a gold price of $1,300 per ounce.
(5)Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.
(6)The net smelter return value utilized in 2024 reserves not less than $14.10 per tonne.
(7)Gold reserves related to the undeveloped Yanacocha Sulfides project at December 31, 2024 were estimated at a gold price of $1,200 per ounce.
(8)The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Gold reserves at December 31, 2024 were estimated at a gold price of $1,400 per ounce. Gold reserves at December 31, 2024 and 2023 were provided by Barrick, the operator of Pueblo Viejo.
(9)Project is currently undeveloped. Gold reserves at December 31, 2024 and 2023 were estimated at a gold price of $1,300 per ounce and were provided by the NuevaUnión joint venture.
(10)Project is currently undeveloped. Gold reserves at December 31, 2024 and 2023 were estimated at a gold price of $1,200 per ounce and were provided by the Norte Abierto joint venture.
(11)The net smelter return value utilized in 2024 reserves not less than $16.20 per tonne.
(12)The net smelter return value utilized in 2024 reserves not less than $21.70 per tonne.
(13)Cut-off grade utilized in 2024 reserves not less than 1.20 gram per tonne.
(14)Gold reserves at December 31, 2024 were estimated at a gold price of $1,200 per ounce.
(15)Cut-off grade utilized in 2024 reserves not less than 0.17 gram per tonne.
(16)Cut-off grade utilized in 2024 reserves not less than 0.42 gram per tonne.
(17)Cut-off grade utilized in 2024 reserves not less than 3.73 gram per tonne.
(18)Gold reserves at December 31, 2024 were estimated at a gold price of $1,400 per ounce. Gold reserves at December 31, 2024 and 2023 were provided by Barrick, the operator of the NGM joint venture.
(19)Currently included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.
(20)Sites are classified as held for sale as of December 31, 2024. Refer to Note 3 to the Consolidated Financial Statements for further discussion of our assets and liabilities held for sale.
(21)Leach pad material is the material on leach pads at the end of the year from which gold remains to be recovered. In-process reserves are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.
(22)Gold reserves at December 31, 2024 were estimated at a gold price of $1,400 per ounce.
(23)Amounts presented herein have been rounded to the nearest 100,000 for ounces and tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.
(24)Sites acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information. Gold reserves at sites acquired through the Newcrest transaction were estimated at a gold price of $1,300 per ounce at December 31, 2023, with the exception of Lihir, for which gold reserves were estimated using Newmont's price assumptions, and certain legacy estimates, which have applied older, more conservative price assumptions.
The following tables detail copper proven and probable reserves reflecting only those reserves attributable to Newmont’s ownership or economic interest at December 31, 2024 and 2023:
| Copper Reserves at December 31, 2024 (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Proven Reserves | Probable Reserves | Proven and Probable Reserves | Metallurgical Recovery (3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (2) (000 tonnes) | Grade (Cu %) | Tonnes (3) (000) | Tonnage (2) (000 tonnes) | Grade (Cu %) | Tonnes (3) (000) | Tonnage (2) (000 tonnes) | Grade (Cu %) | Tonnes (3) (000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Red Chris Open Pit | 70% | — | —% | — | 14,700 | 0.45% | — | 14,700 | 0.45% | — | 80% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Red Chris Underground (4) | 70% | — | —% | — | 171,700 | 0.52% | 900 | 171,700 | 0.52% | 900 | 84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Red Chris, Canada | 70% | — | —% | — | 186,400 | 0.52% | 1,000 | 186,400 | 0.52% | 1,000 | 84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha, Peru (5) | 100% | — | —% | — | 111,100 | 0.63% | 700 | 111,100 | 0.63% | 700 | 83% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NuevaUnión, Chile (6)(13) | 50% | — | —% | — | 1,118,000 | 0.40% | 4,400 | 1,118,000 | 0.40% | 4,400 | 88% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Norte Abierto, Chile (7)(13) | 50% | — | —% | — | 598,800 | 0.22% | 1,300 | 598,800 | 0.22% | 1,300 | 87% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Boddington Open Pit | 100% | 276,500 | 0.09% | 200 | 219,200 | 0.10% | 200 | 495,700 | 0.09% | 500 | 81% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Boddington Stockpiles (8) | 100% | 2,100 | 0.13% | — | 61,900 | 0.09% | 100 | 64,100 | 0.09% | 100 | 79% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Boddington, Australia (9) | 100% | 278,600 | 0.09% | 200 | 281,200 | 0.10% | 300 | 559,800 | 0.09% | 500 | 81% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia, Australia (10) | 100% | — | —% | — | 1,051,800 | 0.29% | 3,100 | 1,051,800 | 0.29% | 3,100 | 87% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wafi-Golpu, Papua New Guinea (11)(13) | 50% | — | —% | — | 194,500 | 1.20% | 2,300 | 194,500 | 1.20% | 2,300 | 95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM, United States (12)(14) | 38.5% | 4,300 | 0.16% | — | 71,000 | 0.18% | 100 | 75,400 | 0.18% | 100 | 66% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Copper | 282,900 | 0.09% | 200 | 3,612,900 | 0.37% | 13,200 | 3,895,800 | 0.35% | 13,500 | 88% |
| Copper Reserves at December 31, 2023 (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Proven Reserves | Probable Reserves | Proven and Probable Reserves | Metallurgical Recovery (3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (2) (000 tonnes) | Grade (Cu %) | Tonnes (3) (000) | Tonnage (2) (000 tonnes) | Grade (Cu %) | Tonnes (3) (000) | Tonnage (2) (000 tonnes) | Grade (Cu %) | Tonnes (3) (000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Red Chris Open Pit | 70% | — | —% | — | 30,200 | 0.43% | 100 | 30,200 | 0.43% | 100 | 80% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Red Chris Underground | 70% | — | —% | — | 171,700 | 0.52% | 900 | 171,700 | 0.52% | 900 | 84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Red Chris, Canada (15) | 70% | — | —% | — | 201,900 | 0.51% | 1,000 | 201,900 | 0.51% | 1,000 | 84% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha, Peru | 100% | — | —% | — | 111,100 | 0.63% | 700 | 111,100 | 0.63% | 700 | 83% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NuevaUnión, Chile (6)(13) | 50% | — | —% | — | 1,118,000 | 0.40% | 4,400 | 1,118,000 | 0.40% | 4,400 | 88% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Norte Abierto, Chile (7)(13) | 50% | — | —% | — | 598,800 | 0.22% | 1,300 | 598,800 | 0.22% | 1,300 | 87% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Boddington Open Pit | 100% | 215,300 | 0.09% | 200 | 192,600 | 0.11% | 200 | 407,900 | 0.10% | 400 | 82% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Boddington Stockpiles (8) | 100% | 2,000 | 0.15% | — | 70,000 | 0.09% | 100 | 72,000 | 0.09% | 100 | 73% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Boddington, Australia | 100% | 217,300 | 0.09% | 200 | 262,600 | 0.10% | 300 | 479,900 | 0.10% | 500 | 80% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia, Australia (14)(15) | 100% | — | —% | — | 1,102,300 | 0.29% | 3,200 | 1,102,300 | 0.29% | 3,200 | 86% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wafi-Golpu, Papua New Guinea (13)(15) | 50% | — | —% | — | 194,500 | 1.20% | 2,300 | 194,500 | 1.20% | 2,300 | 95% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM, United States (12) | 38.5% | 3,700 | 0.16% | — | 82,400 | 0.17% | 100 | 86,100 | 0.17% | 100 | 65% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Copper | 221,000 | 0.09% | 200 | 3,671,500 | 0.37% | 13,500 | 3,892,500 | 0.35% | 13,700 | 88% |
____________________________
(1)At December 31, 2024 and 2023, copper reserves at sites for which Newmont is the operator were estimated at a copper price of $3.50 per pound, unless otherwise noted. Reserves provided by other operators may use pricing that differs. Amounts presented may not recalculate in total due to rounding.
(2)Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.
(3)Tonnes are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Tonnes may not recalculate as they are rounded to the nearest 100,000.
(4)Copper reserves at December 31, 2024 were estimated at a copper price of $3.00 per pound.
(5)Copper reserve estimates relate to the undeveloped Yanacocha Sulfides project and at December 31, 2024 were estimated at a copper price of $2.75 per pound.
(6)Project is currently undeveloped. Copper reserves at December 31, 2024 and 2023 were estimated at a copper price of $3.00 per pound and were provided by the NuevaUnión joint venture.
(7)Project is currently undeveloped. Copper reserves at December 31, 2024 and 2023 were estimated at a copper price of $2.75 per pound and were provided by the Norte Abierto joint venture.
(8)Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpiles are reported separately where pounds exceed 100 million and are greater than 5% of the total site reported reserves.
(9)The net smelter return value utilized in 2024 reserves not less than $16.20 per tonne.
(10)The net smelter return value utilized in 2024 reserves not less than $21.70 per tonne.
(11)Copper reserves at December 31, 2024 were estimated at a copper price of $3.00 per pound.
(12)Copper cut-off grade varies with gold and silver credits. Copper reserves at December 31, 2024 were estimated at a copper price of $3.00 per ounce. Copper reserves at December 31, 2024 and 2023 were provided by Barrick, the operator of the NGM joint venture.
(13)Currently included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.
(14)Amounts presented herein have been rounded to the nearest 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.
(15)Sites acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information. Copper reserves at sites acquired through the Newcrest transaction were estimated at a copper price of $3.00 per pound at December 31, 2023, with the exception of certain legacy estimates, which have applied older, more conservative price assumptions.
The following tables detail silver proven and probable reserves reflecting only those reserves attributable to Newmont’s ownership or economic interest at December 31, 2024 and 2023:
| Silver Reserves at December 31, 2024 (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Proven Reserves | Probable Reserves | Proven and Probable Reserves | Metallurgical Recovery (3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (2) (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (2) (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (2) (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Brucejack, Canada | 100% | — | — | — | 8,600 | 34.36 | 9,500 | 8,600 | 34.36 | 9,500 | 83% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito Open Pits | 100% | 93,900 | 34.68 | 104,700 | 130,800 | 28.52 | 119,900 | 224,700 | 31.09 | 224,600 | 83% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito Stockpiles (4) | 100% | 4,700 | 25.38 | 3,800 | 27,300 | 28.32 | 24,800 | 32,000 | 27.89 | 28,700 | 73% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Peñasquito, Mexico (5) | 100% | 98,600 | 34.24 | 108,500 | 158,100 | 28.49 | 144,800 | 256,600 | 30.70 | 253,300 | 82% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cerro Negro, Argentina | 100% | 2,200 | 89.85 | 6,400 | 7,100 | 65.87 | 15,000 | 9,300 | 71.58 | 21,400 | 75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha Open Pits and Underground | 100% | — | — | — | 93,400 | 19.89 | 59,800 | 93,400 | 19.89 | 59,800 | 54% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha Stockpiles and Leach Pads (4)(6) | 100% | — | — | — | 78,900 | 9.33 | 23,600 | 78,900 | 9.33 | 23,600 | 13% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Yanacocha, Peru (7) | 100% | — | — | — | 172,300 | 15.05 | 83,400 | 172,300 | 15.05 | 83,400 | 43% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pueblo Viejo Open Pits | 40% | 32,200 | 12.44 | 12,900 | 49,500 | 11.49 | 18,300 | 81,700 | 11.86 | 31,200 | 71% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pueblo Viejo Stockpiles (4) | 40% | — | — | — | 38,800 | 14.22 | 17,700 | 38,800 | 14.22 | 17,700 | 71% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Pueblo Viejo, Dominican Republic (8)(13) | 40% | 32,200 | 12.44 | 12,900 | 88,300 | 12.69 | 36,000 | 120,500 | 12.62 | 48,900 | 71% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NuevaUnión, Chile (9)(13) | 50% | — | — | — | 1,118,000 | 1.31 | 47,200 | 1,118,000 | 1.31 | 47,200 | 66% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Norte Abierto, Chile (10)(13) | 50% | — | — | — | 598,800 | 1.52 | 29,300 | 598,800 | 1.52 | 29,300 | 74% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia, Australia (11) | 100% | — | — | — | 1,051,800 | 0.67 | 22,800 | 1,051,800 | 0.67 | 22,800 | 68% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM Open Pit | 38.5% | — | — | — | 54,600 | 7.78 | 13,700 | 54,600 | 7.78 | 13,700 | 38% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM Stockpiles (4) | 38.5% | 3,200 | 7.87 | 800 | — | — | — | 3,200 | 7.87 | 800 | 38% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total NGM, United States (12)(14) | 38.5% | 3,200 | 7.87 | 800 | 54,600 | 7.78 | 13,700 | 57,900 | 7.78 | 14,500 | 38% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Silver | 136,200 | 29.37 | 128,600 | 3,257,700 | 3.83 | 401,600 | 3,393,800 | 4.86 | 530,200 | 71% |
| Silver Reserves at December 31, 2023 (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Proven Reserves | Probable Reserves | Proven and Probable Reserves | Metallurgical Recovery (3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (2) (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (2) (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (2) (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Brucejack, Canada (15) | 100% | — | — | — | 11,500 | 34.71 | 12,800 | 11,500 | 34.71 | 12,800 | 85% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito Open Pits | 100% | 121,700 | 37.98 | 148,600 | 142,800 | 30.31 | 139,200 | 264,500 | 33.84 | 287,800 | 80% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito Stockpiles (4) | 100% | 2,000 | 33.97 | 2,200 | 24,500 | 28.79 | 22,700 | 26,500 | 29.18 | 24,900 | 80% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Peñasquito, Mexico (14) | 100% | 123,700 | 37.91 | 150,800 | 167,300 | 30.09 | 161,800 | 291,000 | 33.42 | 312,600 | 80% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cerro Negro, Argentina | 100% | 1,900 | 85.48 | 5,200 | 7,300 | 69.23 | 16,300 | 9,200 | 72.58 | 21,500 | 75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha Open Pits and Underground | 100% | — | — | — | 93,400 | 19.89 | 59,800 | 93,400 | 19.89 | 59,800 | 54% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha Stockpiles and Leach Pads (4)(6) | 100% | — | — | — | 86,000 | 9.07 | 25,100 | 86,000 | 9.07 | 25,100 | 13% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Yanacocha, Peru | 100% | — | — | — | 179,500 | 14.70 | 84,800 | 179,500 | 14.70 | 84,800 | 42% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pueblo Viejo Open Pits | 40% | 25,800 | 13.15 | 10,900 | 50,800 | 12.31 | 20,100 | 76,600 | 12.59 | 31,000 | 74% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pueblo Viejo Stockpiles (4) | 40% | — | — | — | 39,700 | 14.48 | 18,500 | 39,700 | 14.48 | 18,500 | 70% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Pueblo Viejo, Dominican Republic (8) | 40% | 25,800 | 13.15 | 10,900 | 90,500 | 13.26 | 38,600 | 116,300 | 13.24 | 49,500 | 73% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NuevaUnión, Chile (9)(13) | 50% | — | — | — | 1,118,000 | 1.31 | 47,200 | 1,118,000 | 1.31 | 47,200 | 66% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Norte Abierto, Chile (10)(13) | 50% | — | — | — | 598,800 | 1.52 | 29,300 | 598,800 | 1.52 | 29,300 | 74% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia, Australia (14)(15) | 100% | — | — | — | 1,102,300 | 0.68 | 24,000 | 1,102,300 | 0.68 | 24,000 | 67% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM Open Pit | 38.5% | — | — | — | 60,800 | 6.93 | 13,600 | 60,800 | 6.93 | 13,600 | 38% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM Stockpiles (4) | 38.5% | 2,400 | 7.97 | 600 | — | — | — | 2,400 | 7.97 | 600 | 38% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total NGM, United States (12) | 38.5% | 2,400 | 7.97 | 600 | 60,800 | 6.93 | 13,600 | 63,200 | 6.97 | 14,200 | 38% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Silver | 153,900 | 33.87 | 167,600 | 3,335,900 | 4.00 | 428,400 | 3,489,800 | 5.31 | 596,000 | 70% |
____________________________
(1)At December 31, 2024 and 2023, silver reserves at sites for which Newmont is the operator were estimated at a silver price of $20.00 per ounce, unless otherwise noted. Reserves provided by other operators may use pricing that differs. Amounts presented may not recalculate in total due to rounding.
(2)Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.
(3)Ounces are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Ounces may not recalculate as they are rounded to the nearest 100,000.
(4)Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.
(5)The net smelter return value utilized in 2024 reserves not less than $14.10 per tonne.
(6)Leach pad material is the material on leach pads at the end of the year from which silver remains to be recovered. In-process reserves are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.
(7)Silver reserves related to the undeveloped Yanacocha Sulfides project at December 31, 2024 were estimated at a silver price of $20.00 per ounce.
(8)The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Silver reserves at December 31, 2024 were estimated at a gold price of $20.00 per ounce. Silver reserves at December 31, 2024 and 2023 were provided by Barrick, the operator of Pueblo Viejo.
(9)Project is currently undeveloped. Silver reserves at December 31, 2024 and 2023 were estimated at a silver price of $18.00 per ounce and were provided by the NuevaUnión joint venture.
(10)Project is currently undeveloped. Silver reserves at December 31, 2024 and 2023 were estimated at a silver price of $22.00 per ounce and were provided by the Norte Abierto joint venture.
(11)The net smelter return value utilized in 2024 reserves not less than $21.70 per tonne.
(12)Silver cut-off grade varies with gold and copper credits. Silver reserves at December 31, 2024 were estimated at a silver price of $24.00 per ounce. Silver reserves at December 31, 2024 and 2023 were provided by Barrick, the operator of the NGM joint venture.
(13)Currently included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.
(14)Amounts presented herein have been rounded to the nearest 100,000 for ounces and tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.
(15)Sites acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information. Silver reserves at sites acquired through the Newcrest transaction were estimated at a silver price of $18.00 per ounce at December 31, 2023.
The following tables detail lead proven and probable reserves reflecting only those reserves attributable to Newmont’s ownership or economic interest at December 31, 2024 and 2023:
| Lead Reserves at December 31, 2024 (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Proven Reserves | Probable Reserves | Proven and Probable Reserves | Metallurgical Recovery (3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (2) (000 tonnes) | Grade (Pb %) | Tonnes (3) (000) | Tonnage (2) (000 tonnes) | Grade (Pb %) | Tonnes (3) (000) | Tonnage (2) (000 tonnes) | Grade (Pb %) | Tonnes (3) (000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito Open Pits, Mexico (4) | 100% | 93,900 | 0.35% | 300 | 130,800 | 0.27% | 400 | 224,700 | 0.30% | 700 | 75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito Stockpiles, Mexico (4)(5) | 100% | 4,700 | 0.28% | — | 27,300 | 0.37% | 100 | 32,000 | 0.36% | 100 | 68% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Lead | 98,600 | 0.35% | 300 | 158,100 | 0.29% | 500 | 256,600 | 0.31% | 800 | 74% |
| Lead Reserves at December 31, 2023 (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Proven Reserves | Probable Reserves | Proven and Probable Reserves | Metallurgical Recovery (3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (2) (000 tonnes) | Grade (Pb %) | Tonnes (3) (000) | Tonnage (2) (000 tonnes) | Grade (Pb %) | Tonnes (3) (000) | Tonnage (2) (000 tonnes) | Grade (Pb %) | Tonnes (3) (000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito Open Pits, Mexico (6) | 100% | 121,700 | 0.37% | 400 | 142,800 | 0.28% | 400 | 264,500 | 0.32% | 900 | 73% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito Stockpiles, Mexico (5)(6) | 100% | 2,000 | 0.32% | — | 24,500 | 0.38% | 100 | 26,500 | 0.37% | 100 | 73% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Lead | 123,700 | 0.37% | 500 | 167,300 | 0.30% | 500 | 291,000 | 0.33% | 900 | 73% |
____________________________
(1)At December 31, 2024 and 2023, lead reserves were estimated at a lead price of $0.90 and $1.00 per pound, respectively. Amounts presented may not recalculate in total due to rounding.
(2)Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.
(3)Tonnes are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Tonnes may not recalculate as they are rounded to the nearest 100,000.
(4)The net smelter return value utilized in 2024 reserves not less than $14.10 per tonne.
(5)Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where pounds exceed 100 million and are greater than 5% of the total site-reported reserves.
(6)Amounts presented herein have been rounded to the nearest 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.
The following tables detail zinc proven and probable reserves reflecting only those reserves attributable to Newmont’s ownership or economic interest at December 31, 2024 and 2023:
| Zinc Reserves at December 31, 2024 (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Proven Reserves | Probable Reserves | Proven and Probable Reserves | Metallurgical Recovery (3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (2) (000 tonnes) | Grade (Zn %) | Tonnes (3) (000) | Tonnage (2) (000 tonnes) | Grade (Zn %) | Tonnes (3) (000) | Tonnage (2) (000 tonnes) | Grade (Zn %) | Tonnes (3) (000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito Open Pits, Mexico (4) | 100% | 93,900 | 0.81% | 800 | 130,800 | 0.60% | 800 | 224,700 | 0.69% | 1,500 | 83% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito Stockpiles, Mexico (4)(5) | 100% | 4,700 | 0.80% | — | 27,300 | 0.54% | 100 | 32,000 | 0.58% | 200 | 75% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Zinc | 98,600 | 0.81% | 800 | 158,100 | 0.59% | 900 | 256,600 | 0.68% | 1,700 | 82% |
| Zinc Reserves at December 31, 2023 (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Proven Reserves | Probable Reserves | Proven and Probable Reserves | Metallurgical Recovery (3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (2) (000 tonnes) | Grade (Zn %) | Tonnes (3) (000) | Tonnage (2) (000 tonnes) | Grade (Zn %) | Tonnes (3) (000) | Tonnage (2) (000 tonnes) | Grade (Zn %) | Tonnes (3) (000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito Open Pits, Mexico (6) | 100% | 121,700 | 0.95% | 1,200 | 142,800 | 0.66% | 900 | 264,500 | 0.79% | 2,100 | 82% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito Stockpiles, Mexico (5)(6) | 100% | 2,000 | 0.66% | — | 24,500 | 0.52% | 100 | 26,500 | 0.53% | 100 | 82% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Zinc | 123,700 | 0.94% | 1,200 | 167,300 | 0.63% | 1,100 | 291,000 | 0.77% | 2,200 | 82% |
____________________________
(1)At December 31, 2024 and 2023, zinc reserves were estimated at a zinc price of $1.20 per pound. Amounts presented may not recalculate in total due to rounding.
(2)Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.
(3)Tonnes are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Tonnes may not recalculate as they are rounded to the nearest 100,000.
(4)The net smelter return value utilized in 2024 reserves not less than $14.10 per tonne.
(5)Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where pounds exceed 100 million and are greater than 5% of the total site-reported reserves.
(6)Amounts presented herein have been rounded to the nearest 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.
The following tables detail molybdenum proven and probable reserves reflecting only those reserves attributable to Newmont’s ownership or economic interest at December 31, 2024 and 2023:
| Molybdenum Reserves at December 31, 2024 (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Proven Reserves | Probable Reserves | Proven and Probable Reserves | Metallurgical Recovery (3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (2) (000 tonnes) | Grade (Mo %) | Tonnes (3) (000) | Tonnage (2) (000 tonnes) | Grade (Mo %) | Tonnes (3) (000) | Tonnage (2) (000 tonnes) | Grade (Mo %) | Tonnes (3) (000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NuevaUnión, Chile (4)(5) | 50% | — | —% | — | 776,900 | 0.02% | 100 | 776,900 | 0.02% | 100 | 48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia, Australia (6) | 100% | — | —% | — | 1,040,600 | 0.01% | 100 | 1,040,600 | 0.01% | 100 | 67% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Molybdenum | — | —% | — | 1,817,500 | 0.01% | 200 | 1,817,500 | 0.01% | 200 | 56% |
| Molybdenum Reserves at December 31, 2023 (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Proven Reserves | Probable Reserves | Proven and Probable Reserves | Metallurgical Recovery (3) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (2) (000 tonnes) | Grade (Mo %) | Tonnes (3) (000) | Tonnage (2) (000 tonnes) | Grade (Mo %) | Tonnes (3) (000) | Tonnage (2) (000 tonnes) | Grade (Mo %) | Tonnes (3) (000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NuevaUnión, Chile (4)(5) | 50% | — | —% | — | 776,900 | 0.02% | 100 | 776,900 | 0.02% | 100 | 48% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia, Australia (7)(8) | 100% | — | —% | — | 1,085,100 | 0.01% | 100 | 1,085,100 | 0.01% | 100 | 72% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Molybdenum | — | —% | — | 1,862,000 | 0.01% | 200 | 1,862,000 | 0.01% | 200 | 55% |
____________________________
(1)At December 31, 2024 and 2023, molybdenum reserves at sites for which Newmont is the operator were estimated at a molybdenum price of $13.00 and $8.00 per pound, respectively, unless otherwise noted. Amounts presented may not recalculate in total due to rounding.
(2)Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.
(3)Tonnes are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Tonnes may not recalculate as they are rounded to the nearest 100,000.
(4)Project is currently undeveloped. Molybdenum reserves at December 31, 2024 and 2023 were estimated at a molybdenum price of $10.00 per pound and were provided by the NuevaUnión joint venture.
(5)Currently included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.
(6)The net smelter return value utilized in 2024 reserves not less than $21.70 per tonne.
(7)Amounts presented herein have been rounded to the nearest 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.
(8)Site acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information.
Measured, Indicated, and Inferred Resources
All of our resources are located on land (i) we own or control, or (ii) that is owned or controlled by business entities established with our joint venture partners, in which the Company owns its pro-rata share of the capital stock, membership units, or interests. The risks that could affect title to our property are included above in Item 1A, Risk Factors.
The measured, indicated, and inferred resource figures presented herein are estimates based on information available at the time of calculation and are exclusive of reserves. A “mineral resource” is a concentration or occurrence of solid material of economic interest in or on the Earth’s crust in such form, grade, or quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade or quality, continuity and other geological characteristics of a mineral resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling. The reference point for mineral resources is in situ. Mineral resources are sub-divided, in order of increasing geological confidence, into inferred, indicated and measured categories. Ounces of gold and silver or pounds of copper, zinc, lead, molybdenum, and tungsten included in the measured, indicated and inferred resources are those contained prior to losses during metallurgical treatment. The terms "measured resource," "indicated resource," and "inferred resource" mean that part of a mineral resource for which quantity and grade or quality are estimated on the basis of geological evidence and sampling that is considered to be comprehensive, adequate, or limited, respectively.
Market fluctuations in the price of gold, silver, copper, zinc, lead, and molybdenum, as well as increased production costs or reduced metallurgical recovery rates, could change future estimates of resources. Metal price assumptions are based on approximately a ten to twenty-five percent premium over reserve prices.
Our exploration efforts are directed to the discovery of new resources and converting it into proven and probable reserves. We conduct brownfield exploration around our existing mines and greenfield exploration in other locations globally. Brownfield exploration can result in the discovery of additional deposits, which may receive the economic benefit of existing operating, processing and administrative infrastructures. In contrast, the discovery of mineralization through greenfield exploration efforts will require capital investment to build a stand-alone operation. Our Exploration expense was $266, $265, and $231 in 2024, 2023, and 2022, respectively.
We had attributable measured and indicated gold resources of 99.4 million ounces and attributable inferred gold resources of 70.6 million ounces at December 31, 2024. For 2024 and 2023, attributable measured, indicated, and inferred gold resources were estimated at a gold price assumption of $2,000 and $1,600 per ounce, respectively, except as noted below. The increase in the resources gold price assumption is based on the Company's assessment of multiple factors, including historical gold pricing trends, consensus price forecasts, and impacts of inflation. For 2023, gold resources for Telfer were estimated at a gold price assumption of $1,800 per ounce due to the short-term remaining mine life; in the fourth quarter of 2024, the Company sold the assets of the Telfer reportable segment.
The resource figures presented herein do not include that part of our resources that have been converted to Proven and Probable Reserves as shown above, as they are reported exclusive of reserves, and have been estimated based on information available at the time of calculation.
The Company has internal controls for reviewing and documenting the information supporting the mineral reserve and mineral resource estimates, describing the methods used, and ensuring the validity of the estimates. Refer to Proven and Probable Reserves above for further information on these internal controls.
We publish measured, indicated, and inferred resources annually, and will recalculate them at December 31, 2025, taking into account metal prices, changes, if any, in future production and capital costs, divestments and conversion to reserves, as well as any acquisitions and additions during 2025.
The following tables detail measured, indicated, and inferred resources reflecting only those that are attributable to Newmont’s ownership or economic interest at December 31, 2024 and 2023.
| Gold Resources at December 31, 2024 (1)(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Measured Resources | Indicated Resources | Measured and Indicated Resources | Inferred Resources | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Metallurgical Recovery (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Brucejack, Canada | 100% | — | — | — | 4,300 | 4.68 | 600 | 4,300 | 4.68 | 600 | 16,600 | 5.8 | 3,100 | 96% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Red Chris, Canada (4) | 70% | — | — | — | 335,100 | 0.34 | 3,700 | 335,100 | 0.34 | 3,700 | 62,100 | 0.3 | 700 | 55% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Galore Creek, Canada (5)(15) | 50% | 212,800 | 0.29 | 2,000 | 385,600 | 0.22 | 2,700 | 598,400 | 0.25 | 4,700 | 118,900 | 0.2 | 700 | 75% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito, Mexico | 100% | 48,200 | 0.30 | 500 | 163,100 | 0.22 | 1,100 | 211,300 | 0.24 | 1,600 | 21,100 | 0.2 | 100 | 57% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Noche Buena, Mexico (15) | 50% | — | — | — | 19,900 | 0.37 | 200 | 19,900 | 0.37 | 200 | 1,600 | 0.2 | — | 50% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Merian, Suriname | 75% | 5,800 | 1.03 | 200 | 58,600 | 1.08 | 2,000 | 64,500 | 1.08 | 2,200 | 70,000 | 0.9 | 2,000 | 90% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cerro Negro, Argentina | 100% | 1,300 | 3.77 | 200 | 1,900 | 5.65 | 300 | 3,200 | 4.88 | 500 | 7,600 | 4.8 | 1,200 | 94% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Conga, Peru (6)(15) | 100% | — | — | — | 693,800 | 0.65 | 14,600 | 693,800 | 0.65 | 14,600 | 230,500 | 0.4 | 2,900 | 75% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha Open Pit | 100% | 16,600 | 0.41 | 200 | 109,200 | 0.40 | 1,400 | 125,700 | 0.40 | 1,600 | 287,200 | 0.6 | 5,100 | 66% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha Underground | 100% | 500 | 4.07 | 100 | 6,200 | 4.70 | 900 | 6,700 | 4.65 | 1,000 | 3,400 | 5.0 | 500 | 97% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Yanacocha, Peru (7) | 100% | 17,100 | 0.52 | 300 | 115,400 | 0.63 | 2,300 | 132,500 | 0.62 | 2,600 | 290,700 | 0.6 | 5,600 | 72% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pueblo Viejo, Dominican Republic (8)(15) | 40% | 8,200 | 1.39 | 400 | 38,200 | 1.44 | 1,800 | 46,400 | 1.43 | 2,100 | 5,000 | 1.6 | 300 | 88% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NuevaUnión, Chile (9)(15) | 50% | 4,800 | 0.47 | 100 | 118,300 | 0.59 | 2,300 | 123,100 | 0.59 | 2,300 | 239,800 | 0.4 | 3,100 | 68% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Norte Abierto, Chile (10)(15) | 50% | 77,200 | 0.61 | 1,500 | 596,900 | 0.49 | 9,300 | 674,200 | 0.50 | 10,800 | 369,600 | 0.4 | 4,400 | 76% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Boddington, Australia | 100% | 90,600 | 0.55 | 1,600 | 154,100 | 0.53 | 2,600 | 244,700 | 0.54 | 4,200 | 3,500 | 0.6 | 100 | 84% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tanami Open Pit | 100% | 9,700 | 1.65 | 500 | 26,500 | 1.45 | 1,200 | 36,200 | 1.50 | 1,700 | 5,300 | 1.1 | 200 | 90% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tanami Underground | 100% | 2,800 | 3.22 | 300 | 6,600 | 3.80 | 800 | 9,300 | 3.63 | 1,100 | 17,200 | 4.4 | 2,400 | 97% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Tanami, Australia | 100% | 12,500 | 1.99 | 800 | 33,000 | 1.92 | 2,000 | 45,500 | 1.94 | 2,800 | 22,500 | 3.6 | 2,600 | 94% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia Underground | 100% | — | — | — | 1,245,100 | 0.36 | 14,200 | 1,245,100 | 0.36 | 14,200 | 549,400 | 0.3 | 4,800 | 81% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia Stockpiles and Open Pit | 100% | 30,800 | 0.30 | 300 | — | — | — | 30,800 | 0.30 | 300 | 11,000 | 0.7 | 200 | 65% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Cadia, Australia | 100% | 30,800 | 0.30 | 300 | 1,245,100 | 0.36 | 14,200 | 1,275,900 | 0.35 | 14,500 | 560,400 | 0.3 | 5,000 | 81% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Namosi, Fiji (11)(15) | 73.24% | — | — | — | 105,500 | 0.22 | 700 | 105,500 | 0.22 | 700 | 1,346,900 | 0.1 | 4,300 | 72% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lihir Open Pit | 100% | — | — | — | 43,600 | 1.97 | 2,800 | 43,600 | 1.97 | 2,800 | 227,400 | 2.4 | 17,600 | 75% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lihir Stockpiles | 100% | — | — | — | 1,000 | 2.11 | 100 | 1,000 | 2.11 | 100 | — | — | — | 75% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Lihir, Papua New Guinea | 100% | — | — | — | 44,600 | 1.97 | 2,800 | 44,600 | 1.97 | 2,800 | 227,400 | 2.4 | 17,600 | 75% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wafi-Golpu Open Pit (12) | 50% | — | — | — | 53,600 | 1.66 | 2,900 | 53,600 | 1.66 | 2,900 | 15,500 | 1.3 | 600 | 65% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wafi-Golpu Underground (13) | 50% | — | — | — | 140,800 | 0.45 | 2,000 | 140,800 | 0.45 | 2,000 | 91,900 | 0.6 | 1,900 | 68% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Wafi-Golpu, Papua New Guinea (15) | 50% | — | — | — | 194,500 | 0.78 | 4,900 | 194,500 | 0.78 | 4,900 | 107,300 | 0.7 | 2,600 | 67% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ahafo South Open Pit | 100% | 3,900 | 1.13 | 100 | 6,500 | 0.83 | 200 | 10,400 | 0.95 | 300 | 3,500 | 1.2 | 100 | 85% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ahafo South Underground | 100% | 700 | 3.85 | 100 | 27,100 | 3.96 | 3,400 | 27,800 | 3.95 | 3,500 | 11,500 | 3.1 | 1,200 | 91% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Ahafo South, Ghana | 100% | 4,700 | 1.56 | 200 | 33,500 | 3.35 | 3,600 | 38,200 | 3.13 | 3,800 | 15,000 | 2.7 | 1,300 | 91% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ahafo North Open Pit, Ghana | 100% | 6,900 | 1.41 | 300 | 28,300 | 1.78 | 1,600 | 35,200 | 1.71 | 1,900 | 13,700 | 1.6 | 700 | 90% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM Open Pits and Stockpiles | 38.5% | 3,700 | 1.23 | 100 | 158,500 | 0.74 | 3,800 | 162,200 | 0.76 | 4,000 | 56,700 | 0.9 | 1,600 | 72% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM Underground | 38.5% | 200 | 23.55 | 200 | 21,500 | 6.34 | 4,400 | 21,800 | 6.52 | 4,600 | 25,100 | 6.4 | 5,200 | 87% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total NGM, Nevada (14)(16) | 38.5% | 3,900 | 2.51 | 300 | 180,000 | 1.41 | 8,200 | 183,900 | 1.44 | 8,500 | 81,800 | 2.6 | 6,700 | 82% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Resources at December 31, 2024 (1)(2) (continued) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Measured Resources | Indicated Resources | Measured and Indicated Resources | Inferred Resources | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Metallurgical Recovery (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Held for sale (17) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| CC&V, United States | 100% | 20,300 | 0.53 | 300 | 26,500 | 0.48 | 400 | 46,700 | 0.50 | 800 | 71,400 | 0.4 | 900 | 51% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Musselwhite, Canada | 100% | 1,500 | 4.21 | 200 | 2,300 | 4.10 | 300 | 3,800 | 4.15 | 500 | 1,900 | 5.0 | 300 | 96% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Porcupine Underground | 100% | — | — | — | 1,000 | 7.70 | 300 | 1,100 | 7.59 | 300 | 1,900 | 7.8 | 500 | 92% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Porcupine Open Pit | 100% | — | — | — | 75,600 | 1.51 | 3,700 | 75,600 | 1.51 | 3,700 | 65,900 | 1.4 | 2,900 | 92% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Porcupine, Canada | 100% | — | — | — | 76,600 | 1.59 | 3,900 | 76,600 | 1.59 | 3,900 | 67,900 | 1.5 | 3,400 | 92% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Éléonore, Canada | 100% | 400 | 4.94 | 100 | 2,900 | 4.11 | 400 | 3,300 | 4.21 | 400 | 2,400 | 4.6 | 400 | 92% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Coffee, Canada (15) | 100% | 900 | 2.14 | 100 | 49,300 | 1.26 | 2,000 | 50,200 | 1.28 | 2,100 | 6,700 | 1.0 | 200 | 81% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Akyem, Ghana (18) | 100% | 800 | 0.73 | — | 9,700 | 3.83 | 1,200 | 10,600 | 3.58 | 1,200 | 5,500 | 3.0 | 500 | 92% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Gold | 548,800 | 0.53 | 9,300 | 4,717,000 | 0.59 | 90,100 | 5,265,900 | 0.59 | 99,400 | 3,967,800 | 0.6 | 70,600 | 78% |
| Gold Resources at December 31, 2023 (1)(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Measured Resources | Indicated Resources | Measured and Indicated Resources | Inferred Resources | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Metallurgical Recovery (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| CC&V, United States | 100% | 77,400 | 0.43 | 1,100 | 43,700 | 0.36 | 500 | 121,100 | 0.40 | 1,600 | 22,400 | 0.4 | 300 | 56% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Musselwhite, Canada | 100% | 900 | 4.36 | 100 | 1,300 | 4.17 | 200 | 2,200 | 4.25 | 300 | 1,200 | 5.0 | 200 | 96% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Porcupine Underground | 100% | 200 | 4.55 | — | 1,100 | 6.89 | 200 | 1,300 | 6.49 | 300 | 2,400 | 8.0 | 600 | 94% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Porcupine Open Pit | 100% | 100 | 0.60 | — | 66,300 | 1.65 | 3,500 | 66,300 | 1.65 | 3,500 | 59,800 | 1.5 | 2,800 | 92% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Porcupine, Canada | 100% | 300 | 3.67 | — | 67,400 | 1.73 | 3,800 | 67,700 | 1.74 | 3,800 | 62,200 | 1.7 | 3,400 | 92% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Éléonore, Canada | 100% | 700 | 4.59 | 100 | 2,100 | 4.70 | 300 | 2,800 | 4.68 | 400 | 1,800 | 5.7 | 300 | 92% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Brucejack, Canada (19) | 100% | — | — | — | 1,800 | 7.64 | 500 | 1,800 | 7.64 | 500 | 12,100 | 10.3 | 4,000 | 96% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Red Chris, Canada (19) | 70% | — | — | — | 334,700 | 0.34 | 3,600 | 334,700 | 0.34 | 3,600 | 62,100 | 0.3 | 700 | 55% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Coffee, Canada (15) | 100% | 900 | 2.14 | 100 | 49,300 | 1.27 | 2,000 | 50,200 | 1.28 | 2,100 | 6,700 | 1.0 | 200 | 81% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Galore Creek, Canada (5)(15) | 50% | 212,800 | 0.29 | 2,000 | 385,600 | 0.22 | 2,700 | 598,400 | 0.25 | 4,700 | 118,900 | 0.2 | 700 | 75% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito, Mexico (16) | 100% | 37,400 | 0.26 | 300 | 157,300 | 0.22 | 1,100 | 194,700 | 0.23 | 1,400 | 22,800 | 0.2 | 100 | 57% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Noche Buena, Mexico (15) | 50% | — | — | — | 19,900 | 0.37 | 200 | 19,900 | 0.37 | 200 | 1,600 | 0.2 | — | 50% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Merian, Suriname | 75% | 6,000 | 1.01 | 200 | 38,000 | 1.10 | 1,300 | 44,000 | 1.09 | 1,500 | 30,800 | 1.0 | 1,000 | 88% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cerro Negro, Argentina | 100% | 1,300 | 3.71 | 200 | 2,100 | 6.17 | 400 | 3,400 | 5.22 | 600 | 6,200 | 4.7 | 900 | 94% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Conga, Peru (15) | 100% | — | — | — | 693,800 | 0.65 | 14,600 | 693,800 | 0.65 | 14,600 | 230,500 | 0.4 | 2,900 | 75% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha Open Pit | 100% | 16,800 | 0.41 | 200 | 111,300 | 0.43 | 1,500 | 128,000 | 0.42 | 1,700 | 186,500 | 0.8 | 4,800 | 67% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha Underground | 100% | 500 | 4.07 | 100 | 6,200 | 4.70 | 900 | 6,700 | 4.65 | 1,000 | 3,400 | 5.0 | 500 | 97% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Yanacocha, Peru | 100% | 17,300 | 0.52 | 300 | 117,500 | 0.65 | 2,500 | 134,800 | 0.64 | 2,800 | 189,900 | 0.9 | 5,400 | 73% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pueblo Viejo, Dominican Republic (8)(15) | 40% | 7,300 | 1.47 | 300 | 37,300 | 1.49 | 1,800 | 44,600 | 1.49 | 2,100 | 3,200 | 1.6 | 200 | 82% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NuevaUnión, Chile (9)(15) | 50% | 4,800 | 0.47 | 100 | 118,300 | 0.59 | 2,300 | 123,100 | 0.59 | 2,300 | 239,800 | 0.4 | 3,100 | 68% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Norte Abierto, Chile (10)(15) | 50% | 77,200 | 0.61 | 1,500 | 596,900 | 0.49 | 9,300 | 674,200 | 0.50 | 10,800 | 369,600 | 0.4 | 4,400 | 76% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Boddington, Australia | 100% | 98,200 | 0.55 | 1,700 | 169,700 | 0.54 | 2,900 | 267,900 | 0.54 | 4,700 | 2,400 | 0.5 | — | 83% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tanami Open Pit | 100% | 9,400 | 1.67 | 500 | 23,800 | 1.47 | 1,100 | 33,200 | 1.53 | 1,600 | 4,200 | 1.1 | 200 | 90% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tanami Underground | 100% | 2,500 | 3.82 | 300 | 5,600 | 4.43 | 800 | 8,000 | 4.24 | 1,100 | 15,900 | 4.5 | 2,300 | 96% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Tanami, Australia | 100% | 11,900 | 2.12 | 800 | 29,400 | 2.03 | 1,900 | 41,200 | 2.06 | 2,700 | 20,100 | 3.8 | 2,400 | 94% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia Underground | 100% | — | — | — | 1,596,600 | 0.32 | 16,200 | 1,596,600 | 0.32 | 16,200 | 497,000 | 0.2 | 3,800 | 80% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia Stockpiles and Open Pit | 100% | 30,900 | 0.30 | 300 | — | — | — | 30,900 | 0.30 | 300 | 11,000 | 0.7 | 200 | 65% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Cadia, Australia (16)(19) | 100% | 30,900 | 0.30 | 300 | 1,596,600 | 0.32 | 16,200 | 1,627,500 | 0.32 | 16,500 | 508,000 | 0.2 | 4,100 | 80% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Telfer Open Pit | 100% | — | — | — | 25,900 | 0.56 | 500 | 25,900 | 0.56 | 500 | — | — | — | 78% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Telfer Underground | 100% | — | — | — | 1,700 | 2.31 | 100 | 1,700 | 2.31 | 100 | — | — | — | 90% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Telfer, Australia (19)(20) | 100% | — | — | — | 27,600 | 0.67 | 600 | 27,600 | 0.67 | 600 | — | — | — | 81% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Havieron, Australia (19)(20) | 70% | — | — | — | 33,200 | 2.65 | 2,800 | 33,200 | 2.65 | 2,800 | 11,400 | 1.7 | 600 | 87% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Namosi, Fiji (15)(19) | 73.24% | — | — | — | 105,500 | 0.22 | 700 | 105,500 | 0.22 | 700 | 1,346,900 | 0.1 | 4,300 | 72% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lihir Open Pit | 100% | — | — | — | 25,000 | 2.03 | 1,600 | 25,000 | 2.03 | 1,600 | 227,400 | 2.4 | 17,500 | 80% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lihir Stockpiles | 100% | — | — | — | 22,200 | 1.47 | 1,000 | 22,200 | 1.47 | 1,000 | — | — | — | 78% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Lihir, Papua New Guinea (16)(19) | 100% | — | — | — | 47,100 | 1.77 | 2,700 | 47,100 | 1.77 | 2,700 | 227,400 | 2.4 | 17,500 | 79% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Resources at December 31, 2023 (1)(2) (continued) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Measured Resources | Indicated Resources | Measured and Indicated Resources | Inferred Resources | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Metallurgical Recovery (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wafi-Golpu Open Pit | 50% | — | — | — | 53,600 | 1.66 | 2,900 | 53,600 | 1.66 | 2,900 | 15,500 | 1.3 | 600 | 65% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wafi-Golpu Underground | 50% | — | — | — | 140,800 | 0.45 | 2,000 | 140,800 | 0.45 | 2,000 | 91,900 | 0.6 | 1,900 | 68% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Wafi-Golpu, Papua New Guinea (15)(19) | 50% | — | — | — | 194,500 | 0.78 | 4,900 | 194,500 | 0.78 | 4,900 | 107,300 | 0.7 | 2,600 | 67% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ahafo South Open Pit | 100% | 3,200 | 1.21 | 100 | 5,600 | 0.92 | 200 | 8,800 | 1.03 | 300 | 6,100 | 1.4 | 300 | 88% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ahafo South Underground | 100% | — | 1.59 | — | 27,200 | 3.71 | 3,200 | 27,200 | 3.71 | 3,200 | 13,800 | 3.0 | 1,300 | 91% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Ahafo South, Ghana | 100% | 3,200 | 1.21 | 100 | 32,800 | 3.24 | 3,400 | 36,000 | 3.05 | 3,500 | 19,900 | 2.5 | 1,600 | 91% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ahafo North, Ghana | 100% | 5,000 | 1.46 | 200 | 12,700 | 1.88 | 800 | 17,700 | 1.76 | 1,000 | 6,600 | 1.6 | 300 | 91% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Akyem, Ghana | 100% | 900 | 0.72 | — | 9,800 | 3.83 | 1,200 | 10,600 | 3.57 | 1,200 | 5,600 | 2.9 | 500 | 92% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM Open Pit and Stockpiles | 38.5% | 4,000 | 0.99 | 100 | 175,200 | 0.99 | 5,500 | 179,200 | 0.99 | 5,700 | 101,000 | 0.8 | 2,500 | 75% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM Underground | 38.5% | 1,400 | 7.51 | 300 | 20,900 | 5.95 | 4,000 | 22,200 | 6.04 | 4,300 | 23,100 | 6.5 | 4,800 | 84% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total NGM, United States (14) | 38.5% | 5,300 | 2.66 | 500 | 196,000 | 1.52 | 9,600 | 201,400 | 1.55 | 10,000 | 124,100 | 1.8 | 7,300 | 80% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Gold | 599,700 | 0.52 | 9,900 | 5,121,900 | 0.58 | 94,900 | 5,721,600 | 0.57 | 104,800 | 3,761,500 | 0.6 | 69,100 | 78% |
____________________________
(1)Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding.
(2)At December 31, 2024 and 2023, gold resources at sites for which Newmont is the operator were estimated at a gold price of $2,000 and $1,600 per ounce, unless otherwise noted. Resources provided by other operators may use pricing that differs. Tonnage amounts have been rounded to the nearest 100,000.
(3)Ounces are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Ounces may not recalculate as they are rounded to the nearest 100,000.
(4)Gold resources related to the underground mine at December 31, 2024 were estimated at a gold price of $1,400 per ounce.
(5)Project is currently undeveloped. Resource estimates provided by Teck Resources, the Galore Creek joint venture partner.
(6)Gold resources at December 31, 2024 were estimated at a gold price of $1,400 per ounce.
(7)Gold resources related to the undeveloped Yanacocha Sulfides project at December 31, 2024 were estimated at a gold price of $1,400 per ounce.
(8)The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Gold resources at December 31, 2024 were estimated at a gold price of $1,900 per ounce. Gold resources at December 31, 2024 and 2023 were provided by Barrick, the operator of Pueblo Viejo.
(9)Project is currently undeveloped. Gold resources at December 31, 2024 and 2023 were estimated at a gold price of $1,300 per ounce and were provided by the NuevaUnión joint venture.
(10)Project is currently undeveloped. Gold resources at December 31, 2024 and 2023 were estimated at a gold price of $1,400 per ounce and were provided by the Norte Abierto joint venture.
(11)Gold resources at December 31, 2024 were estimated at a gold price of $1,400 per ounce.
(12)Gold resources at December 31, 2024 were estimated at a gold price of $1,300 per ounce.
(13)Gold resources at December 31, 2024 were estimated at a gold price of $1,400 per ounce.
(14)Gold resources at December 31, 2024 were estimated at a gold price of $1,900 per ounce. Gold resources at December 31, 2024 and 2023 were provided by Barrick, the operator of the NGM joint venture.
(15)Currently included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.
(16)Amounts presented herein have been rounded to the nearest 100,000 for ounces and tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.
(17)Sites are classified as held for sale as of December 31, 2024. Refer to Note 3 to the Consolidated Financial Statements for further discussion of our assets and liabilities held for sale.
(18)Gold resources at December 31, 2024 were estimated at a gold price of $1,600 per ounce.
(19)Sites acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information. At December 31, 2023, gold resources at sites acquired through the Newcrest transaction were estimated at a gold price of $1,400 per ounce, with the exception of Havieron and Lihir, for which gold resources were estimated using Newmont's price assumptions, and certain legacy estimates, which have applied older, more conservative price assumptions.
(20)In the fourth quarter of 2024, the Company completed the sale of the assets of the Telfer reportable segment, which includes the Havieron development project. Refer to Note 3 to the Consolidated Financial Statements for further information.
| Copper Resources at December 31, 2024 (1)(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Measured Resources | Indicated Resources | Measured and Indicated Resources | Inferred Resources | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (000 tonnes) | Grade (Cu%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Cu%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Cu%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Cu%) | Tonnes (3) (000) | Metallurgical Recovery (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Red Chris, Canada (4) | 70% | — | —% | — | 335,100 | 0.34% | 1,100 | 335,100 | 0.34% | 1,100 | 62,100 | 0.4% | 200 | 81% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Galore Creek, Canada (5)(12) | 50% | 212,800 | 0.44% | 900 | 385,600 | 0.47% | 1,800 | 598,400 | 0.46% | 2,800 | 118,900 | 0.3% | 300 | 93% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Conga, Peru (6)(12) | 100% | — | —% | — | 693,800 | 0.26% | 1,800 | 693,800 | 0.26% | 1,800 | 230,500 | 0.2% | 400 | 84% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha, Peru (7) | 100% | 1,500 | 1.02% | — | 99,800 | 0.36% | 400 | 101,300 | 0.37% | 400 | 39,700 | 0.4% | 100 | 81% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NuevaUnión, Chile (8)(12) | 50% | 164,300 | 0.19% | 300 | 349,900 | 0.34% | 1,200 | 514,100 | 0.30% | 1,500 | 602,200 | 0.4% | 2,300 | 89% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Norte Abierto, Chile (9)(12) | 50% | 57,600 | 0.24% | 100 | 551,300 | 0.19% | 1,100 | 608,900 | 0.20% | 1,200 | 361,800 | 0.2% | 700 | 90% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Boddington, Australia | 100% | 90,600 | 0.12% | 100 | 154,100 | 0.11% | 200 | 244,700 | 0.12% | 300 | 3,500 | 0.1% | — | 83% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia Open Pit | 100% | 30,800 | 0.13% | — | — | —% | — | 30,800 | 0.13% | — | 11,000 | 0.5% | 100 | 85% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia Underground | 100% | — | —% | — | 1,245,100 | 0.25% | 3,200 | 1,245,100 | 0.25% | 3,200 | 549,400 | 0.2% | 900 | 86% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Cadia, Australia | 100% | 30,800 | 0.13% | — | 1,245,100 | 0.25% | 3,200 | 1,275,900 | 0.25% | 3,200 | 560,400 | 0.2% | 1,000 | 86% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Namosi Open Pit | 73.24% | — | —% | — | 105,500 | 0.61% | 600 | 105,500 | 0.61% | 600 | 1,346,900 | 0.3% | 4,300 | 84% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Namosi Underground | 73.24% | — | —% | — | — | —% | — | — | —% | — | 209,900 | 0.4% | 900 | 92% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Namosi, Fiji (12) | 73.24% | — | —% | — | 105,500 | 0.61% | 600 | 105,500 | 0.61% | 600 | 1,556,800 | 0.3% | 5,200 | 85% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wafi-Golpu, Papua New Guinea (10)(12) | 50% | — | —% | — | 140,800 | 0.73% | 1,000 | 140,800 | 0.73% | 1,000 | 91,900 | 0.7% | 600 | 95% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM, United States (11)(13) | 38.5% | — | —% | — | 113,700 | 0.17% | 200 | 113,700 | 0.17% | 200 | 11,100 | 0.2% | — | 67% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Copper | 557,600 | 0.28% | 1,600 | 4,174,600 | 0.30% | 12,600 | 4,732,200 | 0.30% | 14,100 | 3,638,800 | 0.3% | 11,000 | 87% |
| Copper Resources at December 31, 2023 (1)(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Measured Resources | Indicated Resources | Measured and Indicated Resources | Inferred Resources | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (000 tonnes) | Grade (Cu%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Cu%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Cu%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Cu%) | Tonnes (3) (000) | Metallurgical Recovery (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Red Chris, Canada (14) | 70% | — | —% | — | 334,700 | 0.34% | 1,100 | 334,700 | 0.34% | 1,100 | 62,100 | 0.4% | 200 | 81% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Galore Creek, Canada (5)(12) | 50% | 212,800 | 0.44% | 900 | 385,600 | 0.47% | 1,800 | 598,400 | 0.46% | 2,800 | 118,900 | 0.3% | 300 | 93% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Conga, Peru (12) | 100% | — | —% | — | 693,800 | 0.26% | 1,800 | 693,800 | 0.26% | 1,800 | 230,500 | 0.2% | 400 | 84% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha, Peru | 100% | 1,500 | 1.02% | — | 99,800 | 0.36% | 400 | 101,300 | 0.37% | 400 | 39,700 | 0.4% | 100 | 81% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NuevaUnión, Chile (8)(12) | 50% | 164,300 | 0.19% | 300 | 349,900 | 0.34% | 1,200 | 514,100 | 0.30% | 1,500 | 602,200 | 0.4% | 2,300 | 89% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Norte Abierto, Chile (9)(12) | 50% | 57,600 | 0.24% | 100 | 551,300 | 0.19% | 1,100 | 608,900 | 0.20% | 1,200 | 361,800 | 0.2% | 700 | 90% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Boddington, Australia | 100% | 98,200 | 0.11% | 100 | 169,700 | 0.11% | 200 | 267,900 | 0.11% | 300 | 2,400 | 0.1% | — | 82% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia Underground | 100% | — | —% | — | 1,596,600 | 0.23% | 3,700 | 1,596,600 | 0.23% | 3,700 | 497,000 | 0.2% | 900 | 85% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia Open Pit | 100% | 30,900 | 0.13% | — | — | —% | — | 30,900 | 0.13% | — | 11,000 | 0.5% | 100 | 80% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Cadia, Australia (13)(14) | 100% | 30,900 | 0.13% | — | 1,596,600 | 0.23% | 3,700 | 1,627,500 | 0.23% | 3,800 | 508,000 | 0.2% | 900 | 85% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Telfer Open Pit | 100% | — | —% | — | 20,300 | 0.06% | — | 20,300 | 0.06% | — | — | —% | — | 49% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Telfer Stockpiles | 100% | — | —% | — | 5,600 | 0.07% | — | 5,600 | 0.07% | — | — | —% | — | 46% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Telfer Underground | 100% | — | —% | — | 1,700 | 0.56% | — | 1,700 | 0.56% | — | — | —% | — | 94% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Telfer, Australia (14)(15) | 100% | — | —% | — | 27,600 | 0.09% | — | 27,600 | 0.09% | — | — | —% | — | 65% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Havieron, Australia (14)(15) | 70% | — | —% | — | 33,200 | 0.34% | 100 | 33,200 | 0.34% | 100 | 11,400 | 0.2% | — | 86% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Telfer Projects, Australia (14)(15) | 100% | — | —% | — | 51,700 | 0.29% | 100 | 51,700 | 0.29% | 100 | 1,900 | 0.3% | — | 78% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Namosi Open Pit | 73.24% | — | —% | — | 105,500 | 0.61% | 600 | 105,500 | 0.61% | 600 | 1,346,900 | 0.3% | 4,300 | 84% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Namosi Underground | 73.24% | — | —% | — | — | —% | — | — | —% | — | 209,900 | 0.4% | 900 | 92% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Namosi, Fiji (12)(14) | 73.24% | — | —% | — | 105,500 | 0.61% | 600 | 105,500 | 0.61% | 600 | 1,556,800 | 0.3% | 5,200 | 85% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wafi-Golpu, Papua New Guinea (12)(14) | 50% | — | —% | — | 140,800 | 0.73% | 1,000 | 140,800 | 0.73% | 1,000 | 91,900 | 0.7% | 600 | 95% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM, United States (11) | 38.5% | — | —% | — | 136,000 | 0.15% | 200 | 136,000 | 0.15% | 200 | 19,300 | 0.2% | — | 65% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Copper | 565,300 | 0.28% | 1,600 | 4,676,100 | 0.29% | 13,500 | 5,241,400 | 0.29% | 15,000 | 3,606,800 | 0.3% | 10,900 | 88% |
____________________________
(1)Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding.
(2)At December 31, 2024 and 2023, copper resources at sites in which Newmont is the operator were estimated at a copper price of $4.00 per pound, unless otherwise noted. Resources provided by other operators may use pricing that differs. Tonnage amounts have been rounded to the nearest 100,000.
(3)Tonnes are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Tonnes may not recalculate as they are rounded to the nearest 100,000.
(4)Copper resources related to the underground mine at December 31, 2024 were estimated at a copper price of $3.40 per pound.
(5)Project is currently undeveloped. Resource estimates provided by Teck Resources.
(6)Copper resources at December 31, 2024 were estimated at a copper price of $3.50 per pound.
(7)Copper resources related to the undeveloped Yanacocha Sulfides project at December 31, 2024 were estimated at a copper price of $3.25 per pound.
(8)Project is currently undeveloped. Copper resources at December 31, 2024 and 2023 were estimated at a copper price of $3.00 per pound and were provided by the NuevaUnión joint venture.
(9)Project is currently undeveloped. Copper resources at December 31, 2024 and 2023 were estimated at a copper price of $3.25 per pound and were provided by the Norte Abierto joint venture.
(10)Copper resources related to the open pit mine at December 31, 2024 were estimated at a copper price of $3.40 per pound.
(11)Copper resources at December 31, 2024 and 2023 were provided by Barrick, the operator of the NGM joint venture.
(12)Currently included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.
(13)Amounts presented herein have been rounded to the nearest 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.
(14)Sites acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information. Copper resources at sites acquired through the Newcrest transaction were estimated at a copper price of $3.40 per pound at December 31, 2023, with the exception of Havieron, for which copper resources were estimated using Newmont's price assumptions, and certain legacy estimates, which have applied older, more conservative price assumptions.
(15)In the fourth quarter of 2024, the Company completed the sale of the assets of the Telfer reportable segment, which includes the Havieron development project. Refer to Note 3 to the Consolidated Financial Statements for further information.
| Silver Resources at December 31, 2024 (1)(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Measured Resources | Indicated Resources | Measured and Indicated Resources | Inferred Resources | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Metallurgical Recovery (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Brucejack, Canada | 100% | — | — | — | 4,300 | 19.68 | 2,700 | 4,300 | 19.68 | 2,700 | 16,600 | 11.6 | 6,200 | 82% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Galore Creek, Canada (4)(12) | 50% | 212,800 | 4.08 | 27,900 | 385,600 | 4.77 | 59,100 | 598,400 | 4.52 | 87,000 | 118,900 | 2.6 | 9,900 | 73% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito, Mexico | 100% | 48,200 | 27.22 | 42,200 | 163,100 | 24.84 | 130,300 | 211,300 | 25.39 | 172,400 | 21,100 | 25.4 | 17,200 | 80% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Noche Buena, Mexico (12) | 50% | — | — | — | 19,900 | 13.99 | 9,000 | 19,900 | 13.99 | 9,000 | 1,600 | 11.0 | 500 | 25% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cerro Negro Underground | 100% | 100 | 70.12 | 300 | 700 | 61.42 | 1,400 | 900 | 62.67 | 1,700 | 7,300 | 26.5 | 6,200 | 76% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cerro Negro Open Pit | 100% | 1,200 | 6.76 | 300 | 1,200 | 6.62 | 300 | 2,400 | 6.70 | 500 | 300 | 6.7 | 100 | 71% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Cerro Negro, Argentina | 100% | 1,300 | 12.61 | 500 | 1,900 | 27.54 | 1,700 | 3,200 | 21.43 | 2,200 | 7,600 | 25.7 | 6,300 | 75% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Conga, Peru (5)(12) | 100% | — | — | — | 693,800 | 2.06 | 45,900 | 693,800 | 2.06 | 45,900 | 175,000 | 1.1 | 6,300 | 70% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha Open Pit | 100% | 16,300 | 6.71 | 3,500 | 103,900 | 10.16 | 33,900 | 120,200 | 9.69 | 37,400 | 26,300 | 13.4 | 11,400 | 43% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha Leach Pad (6) | 100% | — | — | — | — | — | — | — | — | — | 62,700 | 2.2 | 4,500 | 4% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha Underground | 100% | 500 | 0.37 | — | 6,200 | 37.02 | 7,300 | 6,700 | 34.23 | 7,400 | 3,400 | 40.4 | 4,400 | 83% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Yanacocha, Peru (7) | 100% | 16,800 | 6.52 | 3,500 | 110,100 | 11.66 | 41,300 | 126,900 | 10.98 | 44,800 | 92,400 | 6.8 | 20,300 | 47% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pueblo Viejo, Dominican Republic (8)(12) | 40% | 8,200 | 7.69 | 2,000 | 38,200 | 7.82 | 9,600 | 46,400 | 7.80 | 11,600 | 5,000 | 6.8 | 1,100 | 71% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NuevaUnión, Chile (9)(12) | 50% | 164,300 | 0.96 | 5,100 | 349,900 | 1.19 | 13,400 | 514,100 | 1.12 | 18,400 | 602,200 | 1.2 | 22,500 | 66% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Norte Abierto, Chile (10)(12) | 50% | 77,200 | 1.20 | 3,000 | 596,900 | 1.07 | 20,600 | 674,200 | 1.09 | 23,500 | 369,600 | 1.0 | 11,300 | 78% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia, Australia | 100% | — | — | — | 1,245,100 | 0.65 | 26,100 | 1,245,100 | 0.65 | 26,100 | 549,400 | 0.4 | 7,900 | 67% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wafi-Golpu, Papua New Guinea (12) | 50% | — | — | — | 53,600 | 4.42 | 7,600 | 53,600 | 4.42 | 7,600 | 15,500 | 4.5 | 2,200 | 45% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM Open Pit | 38.5% | — | — | — | 98,300 | 5.64 | 17,800 | 98,300 | 5.64 | 17,800 | 9,400 | 4.2 | 1,300 | 38% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM Stockpiles | 38.5% | — | — | — | — | — | — | — | — | — | 900 | 4.6 | 100 | 38% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM, United States (11)(13) | 38.5% | — | — | — | 98,300 | 5.64 | 17,800 | 98,300 | 5.64 | 17,800 | 10,300 | 4.2 | 1,400 | 38% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Silver | 528,900 | 4.96 | 84,300 | 3,760,700 | 3.18 | 385,000 | 4,289,600 | 3.40 | 469,200 | 1,985,100 | 1.8 | 113,200 | 69% |
| Silver Resources at December 31, 2023 (1)(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Measured Resources | Indicated Resources | Measured and Indicated Resources | Inferred Resources | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Tonnage (000 tonnes) | Grade (g/tonne) | Ounces (3) (000) | Metallurgical Recovery (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Brucejack, Canada (14) | 100% | — | — | — | 1,800 | 8.09 | 500 | 1,800 | 8.09 | 500 | 12,100 | 10.0 | 3,900 | 85% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Galore Creek, Canada (4)(12) | 50% | 212,800 | 4.08 | 27,900 | 385,600 | 4.77 | 59,100 | 598,400 | 4.52 | 87,000 | 118,900 | 2.6 | 9,900 | 73% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito, Mexico (13) | 100% | 37,400 | 24.48 | 29,400 | 157,300 | 25.12 | 127,100 | 194,700 | 25.00 | 156,500 | 22,800 | 25.4 | 18,700 | 79% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Noche Buena, Mexico (12) | 50% | — | — | — | 19,900 | 13.99 | 9,000 | 19,900 | 13.99 | 9,000 | 1,600 | 11.0 | 500 | 25% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cerro Negro Underground | 100% | 100 | 61.50 | 200 | 900 | 60.12 | 1,800 | 1,000 | 60.28 | 2,000 | 5,900 | 27.5 | 5,200 | 75% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cerro Negro Open Pit | 100% | 1,200 | 6.77 | 300 | 1,200 | 6.63 | 300 | 2,400 | 6.70 | 500 | 300 | 6.7 | 100 | 71% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Cerro Negro, Argentina | 100% | 1,300 | 11.71 | 500 | 2,100 | 30.02 | 2,000 | 3,400 | 22.95 | 2,500 | 6,200 | 26.4 | 5,300 | 75% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Conga, Peru (12) | 100% | — | — | — | 693,800 | 2.06 | 45,900 | 693,800 | 2.06 | 45,900 | 175,000 | 1.1 | 6,300 | 70% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha Open Pit | 100% | 16,100 | 6.76 | 3,500 | 105,200 | 10.43 | 35,300 | 121,300 | 9.94 | 38,800 | 26,400 | 13.5 | 11,500 | 44% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha Underground | 100% | 500 | 0.37 | — | 6,200 | 37.02 | 7,300 | 6,700 | 34.23 | 7,400 | 3,400 | 40.4 | 4,400 | 83% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Yanacocha, Peru | 100% | 16,600 | 6.57 | 3,500 | 111,300 | 11.91 | 42,600 | 128,000 | 11.21 | 46,100 | 29,800 | 16.6 | 15,900 | 51% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pueblo Viejo, Dominican Republic (8)(12) | 40% | 7,300 | 7.96 | 1,900 | 37,300 | 8.04 | 9,600 | 44,600 | 8.02 | 11,500 | 3,200 | 8.1 | 800 | 74% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NuevaUnión, Chile (9)(12) | 50% | 164,300 | 0.96 | 5,100 | 349,900 | 1.19 | 13,400 | 514,100 | 1.12 | 18,400 | 602,200 | 1.2 | 22,500 | 66% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Norte Abierto, Chile (10)(12) | 50% | 77,200 | 1.20 | 3,000 | 596,900 | 1.07 | 20,600 | 674,200 | 1.09 | 23,500 | 369,600 | 1.0 | 11,300 | 78% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia, Australia (13)(14) | 100% | — | — | — | 1,596,600 | 0.61 | 31,300 | 1,596,600 | 0.61 | 31,300 | 497,000 | 0.5 | 7,500 | 65% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wafi-Golpu, Papua New Guinea (12)(14) | 50% | — | — | — | 53,600 | 4.42 | 7,600 | 53,600 | 4.42 | 7,600 | 15,500 | 4.5 | 2,200 | 45% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM Open Pit | 38.5% | — | — | — | 93,000 | 5.59 | 16,700 | 93,000 | 5.59 | 16,700 | 16,700 | 5.4 | 2,900 | 38% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM Stockpiles | 38.5% | — | — | — | — | — | — | — | — | — | 1,800 | 5.6 | 300 | 38% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NGM, United States (11) | 38.5% | — | — | — | 93,000 | 5.59 | 16,700 | 93,000 | 5.59 | 16,700 | 18,400 | 5.4 | 3,200 | 38% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Silver | 516,900 | 4.29 | 71,300 | 4,099,200 | 2.92 | 385,400 | 4,616,200 | 3.08 | 456,700 | 1,872,300 | 1.8 | 108,100 | 68% |
____________________________
(1)Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding.
(2)At December 31, 2024 and 2023, silver resources at sites in which Newmont is the operator were estimated at a silver price of $23.00 per ounce, unless otherwise noted. Resources provided by other operators may use pricing that differs. Tonnage amounts have been rounded to the nearest 100,000.
(3)Ounces are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Ounces may not recalculate as they are rounded to the nearest 100,000.
(4)Project is currently undeveloped. Resource estimates provided by Teck Resources.
(5)Silver resources at December 31, 2024 were estimated at a silver price of $26.00 per ounce.
(6)Leach pad material is the material on leach pads at the end of the year from which silver remains to be recovered. In-process resources are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported resources.
(7)Silver resources related to the undeveloped Yanacocha Sulfides project at December 31, 2024 were estimated at a silver price of $23.00 per ounce.
(8)Silver resources at December 31, 2024 were estimated at a silver price of $24.00 per ounce. Silver resources at December 31, 2024 and 2023 were provided by Barrick, the operator of the Pueblo Viejo.
(9)Project is currently undeveloped. Silver resources at December 31, 2024 and 2023 were estimated at a silver price of $18.00 per ounce and were provided by the NuevaUnión joint venture.
(10)Project is currently undeveloped. Silver resources at December 31, 2024 and 2023 were estimated at a silver price of $20.00 per ounce and were provided by the Norte Abierto joint venture.
(11)Silver resources at December 31, 2024 were estimated at a silver price of $24.00 per ounce. Silver resources at December 31, 2024 and 2023 were provided by Barrick, the operator of the NGM joint venture.
(12)Currently included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.
(13)Amounts presented herein have been rounded to the nearest 100,000 for ounces and tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.
(14)Sites acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information. Silver resources at sites acquired through the Newcrest transaction were estimated at a silver price of $21.00 per ounce at December 31, 2023, with the exception of certain legacy estimates, which have applied older, more conservative price assumptions.
| Lead Resources at December 31, 2024 (1)(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Measured Resource | Indicated Resource | Measured and Indicated Resource | Inferred Resource | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (000 tonnes) | Grade (Pb%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Pb%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Pb%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Pb%) | Tonnes (3) (000) | Metallurgical Recovery (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito, Mexico | 100% | 48,200 | 0.25% | 100 | 163,100 | 0.23% | 400 | 211,300 | 0.23% | 500 | 21,100 | 0.2% | — | 73% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Lead | 48,200 | 0.25% | 100 | 163,100 | 0.23% | 400 | 211,300 | 0.23% | 500 | 21,100 | 0.2% | — | 73% |
| Lead Resources at December 31, 2023 (1)(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Measured Resource | Indicated Resource | Measured and Indicated Resource | Inferred Resource | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (000 tonnes) | Grade (Pb%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Pb%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Pb%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Pb%) | Tonnes (3) (000) | Metallurgical Recovery (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito, Mexico (4) | 100% | 37,400 | 0.28% | 100 | 157,300 | 0.24% | 400 | 194,700 | 0.24% | 500 | 22,800 | 0.2% | 100 | 72% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Telfer Projects, Australia (5)(6) | 100% | — | —% | — | 51,700 | 0.30% | 200 | 51,700 | 0.30% | 200 | 1,900 | 0.2% | — | 89% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Lead | 37,400 | 0.28% | 100 | 209,100 | 0.25% | 500 | 246,500 | 0.26% | 600 | 24,700 | 0.2% | 100 | 76% |
____________________________
(1)Resources are reported exclusive of reserves.
(2)At December 31, 2024 and 2023, lead resources were estimated at a lead price of $1.00 and $1.20 per pound, respectively. Tonnage amounts have been rounded to the nearest 100,000.
(3)Tonnes are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Tonnes may not recalculate as they are rounded to the nearest 100,000.
(4)Amounts presented herein have been rounded to the nearest 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.
(5)Site acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information. Lead resources at sites acquired through the Newcrest transaction were estimated at a lead price of $1.07 per pound at December 31, 2023.
(6)In the fourth quarter of 2024, the Company completed the sale of the assets of the Telfer reportable segment, which includes the Havieron development project. Refer to Note 3 to the Consolidated Financial Statements for further information.
| Zinc Resources at December 31, 2024 (1)(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Measured Resource | Indicated Resource | Measured and Indicated Resource | Inferred Resource | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (000 tonnes) | Grade (Zn%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Zn%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Zn%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Zn%) | Tonnes (3) (000) | Metallurgical Recovery (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito, Mexico | 100% | 48,200 | 0.69% | 300 | 163,100 | 0.55% | 900 | 211,300 | 0.59% | 1,200 | 21,100 | 0.6% | 100 | 81% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Zinc | 48,200 | 0.69% | 300 | 163,100 | 0.55% | 900 | 211,300 | 0.59% | 1,200 | 21,100 | 0.6% | 100 | 81% |
| Zinc Resources at December 31, 2023 (1)(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Measured Resource | Indicated Resource | Measured and Indicated Resource | Inferred Resource | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (000 tonnes) | Grade (Zn%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Zn%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Zn%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Zn%) | Tonnes (3) (000) | Metallurgical Recovery (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito, Mexico (4) | 100% | 37,400 | 0.69% | 300 | 157,300 | 0.59% | 900 | 194,700 | 0.61% | 1,200 | 22,800 | 0.6% | 100 | 81% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Telfer Projects, Australia (5)(6) | 100% | — | —% | — | 51,700 | 0.63% | 300 | 51,700 | 0.63% | 300 | 1,900 | 0.5% | — | 78% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Zinc | 37,400 | 0.69% | 300 | 209,100 | 0.60% | 1,300 | 246,500 | 0.61% | 1,500 | 24,700 | 0.6% | 100 | 80% |
____________________________
(1)Resources are reported exclusive of reserves.
(2)At December 31, 2024 and 2023, zinc resources were estimated at a zinc price of $1.30 and $1.45 per pound, respectively. Tonnage amounts have been rounded to the nearest 100,000.
(3)Tonnes are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Tonnes may not recalculate as they are rounded to the nearest 100,000.
(4)Amounts presented herein have been rounded to the nearest 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.
(5)Site acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information. Zinc resources at sites acquired through the Newcrest transaction were estimated at a zinc price of $1.15 per pound at December 31, 2023.
(6)In the fourth quarter of 2024, the Company completed the sale of the assets of the Telfer reportable segment, which includes the Havieron development project. Refer to Note 3 to the Consolidated Financial Statements for further information.
| Molybdenum Resources at December 31, 2024 (1)(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Measured Resource | Indicated Resource | Measured and Indicated Resource | Inferred Resource | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (000 tonnes) | Grade (Mo%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Mo%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Mo%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Mo%) | Tonnes (3) (000) | Metallurgical Recovery (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NuevaUnión, Chile (4) | 50% | 159,500 | 0.01% | — | 231,500 | 0.01% | — | 391,000 | 0.01% | — | 362,300 | —% | — | 52% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia, Australia | 100% | — | —% | — | 1,173,900 | 0.01% | 100 | 1,173,900 | 0.01% | 100 | 509,600 | —% | — | 72% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Molybdenum | 159,500 | 0.01% | — | 1,405,400 | 0.01% | 100 | 1,564,900 | 0.01% | 100 | 872,000 | —% | 100 | 62% |
| Molybdenum Resources at December 31, 2023 (1)(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Measured Resource | Indicated Resource | Measured and Indicated Resource | Inferred Resource | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (000 tonnes) | Grade (Mo%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Mo%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Mo%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (Mo%) | Tonnes (3) (000) | Metallurgical Recovery (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NuevaUnión, Chile (4) | 50% | 159,500 | 0.01% | — | 231,500 | 0.01% | — | 391,000 | 0.01% | — | 362,300 | —% | — | 52% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cadia, Australia (5)(6) | 100% | — | —% | — | 1,515,400 | 0.01% | 100 | 1,515,400 | 0.01% | 100 | 497,000 | —% | — | 72% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Molybdenum | 159,500 | 0.01% | — | 1,746,900 | 0.01% | 100 | 1,906,400 | 0.01% | 100 | 859,400 | —% | 100 | 60% |
____________________________
(1)Resources are reported exclusive of reserves.
(2)At December 31, 2024 and 2023, molybdenum resources at sites in which Newmont is the operator were estimated at a molybdenum price of $16.00 and $10.00 per pound, respectively, unless otherwise noted. Tonnage amounts have been rounded to the nearest 100,000.
(3)Tonnes are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Tonnes may not recalculate as they are rounded to the nearest 100,000.
(4)Project is currently undeveloped and is included in Corporate and Other in Note 4 to the Consolidated Financial Statements. Molybdenum resources at December 31, 2024 and 2023 were estimated at a molybdenum price of $10.00 per pound and were provided by the NuevaUnión joint venture.
(5)Amounts presented herein have been rounded to the nearest 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.
(6)Site acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information.
| Tungsten Resources at December 31, 2023 (1)(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Measured Resource | Indicated Resource | Measured and Indicated Resource | Inferred Resource | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits/Districts | Newmont Share | Tonnage (000 tonnes) | Grade (W%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (W%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (W%) | Tonnes (3) (000) | Tonnage (000 tonnes) | Grade (W%) | Tonnes (3) (000) | Metallurgical Recovery (3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Telfer Projects, Australia | 100% | — | —% | — | 51,700 | 0.35% | 200 | 51,700 | 0.35% | 200 | 1,900 | 0.4% | — | 74% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total Tungsten | — | —% | — | 51,700 | 0.35% | 200 | 51,700 | 0.35% | 200 | 1,900 | 0.4% | — | 74% |
____________________________
(1)Resources are reported exclusive of reserves.
(2)At December 31, 2023, tungsten resources were estimated at a tungsten price of $16.00 per pound. Tonnage amounts have been rounded to the nearest 100,000. The Telfer reportable segment was acquired in 2023 through the Newmont transaction and subsequently sold in the fourth quarter of 2024. Refer to Note 3 to the Consolidated Financial Statements for further information. Due to the sale, the Company had no tungsten reserves at December 31, 2024.
(3)Tonnes are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Tonnes may not recalculate as they are rounded to the nearest 100,000.
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