Cover and table of contents

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Cover and table of contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended June 30, 2026

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from__________to__________

Commission File Number: 001-31240

NEWMONT CORPORATION

(Exact name of registrant as specified in its charter)



Delaware						84-1611629
(State or Other Jurisdiction of Incorporation or Organization)						(I.R.S. Employer Identification No.)

6900 E Layton Ave
Denver, Colorado						80237
(Address of Principal Executive Offices)						(Zip Code)
Registrant’s telephone number, including area code (303) 863-7414

Securities registered or to be registered pursuant to Section 12(b) of the Act.


Title of each class						Trading Symbol						Name of each exchange on which registered
Common stock, par value $1.60 per share						NEM						New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒ Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12-b2 of the Exchange Act.


Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12-b2 of the Exchange Act). ☐ Yes ☒ No

There were 1,053,692,271 shares of common stock outstanding on July 16, 2026.

TABLE OF CONTENTS


	PART I – FINANCIAL INFORMATION	Page
GLOSSARY OF ABBREVIATIONS		1
RESULTS AND HIGHLIGHTS		2
ITEM 1.	FINANCIAL STATEMENTS	6
	Condensed Consolidated Statements of Operations	6
	Condensed Consolidated Statements of Comprehensive Income (Loss)	7
	Condensed Consolidated Balance Sheets	8
	Condensed Consolidated Statements of Cash Flows	9
	Condensed Consolidated Statement s of Changes in Equity	10
	Notes to the Condensed Consolidated Financial Statements	12
	Note 1 Basis of Presentation	12
	Note 2 Summary of Significant Accounting Policies	12
	Note 3 Divestitures	13
	Note 4 Segment Information	14
	Note 5 Sales	19
	Note 6 Reclamation and Remediation	21
	Note 7 Other Expense, Net	22
	Note 8 Other Income (Loss), Net	22
	Note 9 Income and Mining Taxes	23
	Note 10 Fair Value Accounting	23
	Note 11 Derivative Instruments	25
	Note 12 Investments	27
	Note 13 Inventories	28
	Note 14 Stockpiles and Ore on Leach Pads	28
	Note 15 Debt	28
	Note 16 Other Liabilities	29
	Note 17 Commitments and Contingencies	29
ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	35
	Overview	35
	Consolidated Financial Results	36
	Results of Consolidated Operations	41
	Liquidity and Capital Resources	48
	Environmental	53
	Non-GAAP Financial Measures	53
	Accounting Developments	62
	Safe Harbor Statement	62
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK	64
ITEM 4.	CONTROLS AND PROCEDURES	66
	PART II – OTHER INFORMATION
ITEM 1.	LEGAL PROCEEDINGS	67
ITEM 1A.	RISK FACTORS	67
ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	68
ITEM 3.	DEFAULTS UPON SENIOR SECURITIES	68
ITEM 4.	MINE SAFETY DISCLOSURES	68
ITEM 5.	OTHER INFORMATION	68
ITEM 6.	EXHIBITS	69
SIGNATURES		70

GLOSSARY: UNITS OF MEASURE AND ABBREVIATIONS


Unit						Unit of Measure
$						United States Dollar
%						Percent
A$						Australian Dollar
C$						Canadian Dollar
gram						Metric Gram
ounce						Troy Ounce

tonne						Metric Ton


Abbreviation						Description
AISC (1)						All-In Sustaining Costs
ARC						Asset Retirement Cost

ASC						FASB Accounting Standard Codification
ASU						FASB Accounting Standard Update
AUD						Australian Dollar
CAD						Canadian Dollar
CAS						Costs Applicable to Sales


EBITDA (1)						Earnings Before Interest, Taxes, Depreciation and Amortization

EPA						U.S. Environmental Protection Agency
Exchange Act						U.S. Securities Exchange Act of 1934
FASB						Financial Accounting Standards Board
GAAP						U.S. Generally Accepted Accounting Principles
GEO (2)						Gold Equivalent Ounces


IMF						International Monetary Fund
INDEC						Instituto Nacional de Estadistica y Censos




LBMA						London Bullion Market Association

MD&A						Management’s Discussion and Analysis of Consolidated Financial Condition and Results of Operations
MINAM						Ministry of the Environment of Peru
Mine Act						U.S. Federal Mine Safety and Health Act of 1977
MINEM						Ministry of Energy and Mines of Peru

MXN						Mexican Peso
NPDES						National Pollutant Discharge Elimination System
NSR						Net Smelter Return
PNG						Papua New Guinea



SEC						U.S. Securities and Exchange Commission
Securities Act						U.S. Securities Act of 1933, as amended
TARP						Taxable Australian Real Property
TSF						Tailings Storage Facility

UOP						Units of Production
U.S.						The United States of America
USD						United States Dollar
WTP						Water Treatment Plant

____________________________

(1)Refer to Non-GAAP Financial Measures within Part I, Item 2, MD&A.

(2)Refer to Results of Consolidated Operations within Part I, Item 2, MD&A.

NEWMONT CORPORATION

RESULTS AND HIGHLIGHTS

(unaudited, in millions, except per share, per ounce, per pound, and per tonne)


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Financial Results:
Sales	$	6,118	$	5,317	$	13,425	$	10,327
Gold	$	5,276	$	4,582	$	11,312	$	8,827
Copper	$	319	$	360	$	697	$	714
Silver	$	344	$	191	$	1,002	$	379
Lead	$	32	$	43	$	84	$	85
Zinc	$	147	$	141	$	330	$	322
Costs applicable to sales (1)	$	2,088	$	2,001	$	4,025	$	4,107
Gold	$	1,749	$	1,677	$	3,359	$	3,446
Copper	$	96	$	166	$	194	$	310
Silver	$	162	$	60	$	307	$	122
Lead	$	16	$	21	$	33	$	42
Zinc	$	65	$	77	$	132	$	187

Net income (loss)	$	2,251	$	2,075	$	5,579	$	3,977

Net income (loss) attributable to Newmont stockholders	$	2,202	$	2,061	$	5,464	$	3,952
Net income (loss) attributable to Newmont stockholders per common share, diluted:	$	2.06	$	1.85	$	5.07	$	3.53



Adjusted net income (loss) (2)	$	2,246	$	1,594	$	5,402	$	2,998
Adjusted net income (loss) per share, diluted (2)	$	2.10	$	1.43	$	5.01	$	2.68
Earnings before interest, taxes and depreciation and amortization (2)	$	3,638	$	3,803	$	8,892	$	6,946
Adjusted earnings before interest, taxes and depreciation and amortization (2)	$	3,757	$	2,997	$	8,911	$	5,626
Net cash provided by (used in) operating activities					$	6,709	$	4,415
Free cash flow (2)					$	5,349	$	2,915
Cash dividends paid per common share in the period ended June 30,	$	0.26	$	0.25	$	0.52	$	0.50
Cash dividends declared per common share for the period ended June 30,	$	0.26	$	0.25	$	0.52	$	0.50

____________________________

(1)Excludes Depreciation and amortization and Reclamation and remediation.

(2)Refer to Non-GAAP Financial Measures within Part I, Item 2, MD&A.

NEWMONT CORPORATION

RESULTS AND HIGHLIGHTS

(unaudited, in millions, except per share, per ounce, per pound, and per tonne)


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Operating Results:
Consolidated gold ounces (thousands):
Produced	1,199		1,390		2,430		2,850
Sold	1,195		1,380		2,427		2,822

Attributable gold ounces (thousands):
Attributable to Newmont	1,181		1,377		2,390		2,822
Pueblo Viejo (40%)	74		63		128		112
Fruta del Norte (1)	38		38		76		81
Produced	1,293		1,478		2,594		3,015
Sold (2)	1,177		1,363		2,388		2,793

Consolidated and attributable gold equivalent ounces - other metals (thousands):
Produced	169		392		427		740
Sold	176		361		437		729

Consolidated and attributable - other metals:
Produced copper:
Pounds (millions)	39		83		106		159
Tonnes (thousands)	17		36		47		71
Sold copper:
Pounds (millions)	46		83		113		159
Tonnes (thousands)	22		37		52		72
Produced silver (million ounces)	7		8		16		14
Sold silver (million ounces)	6		7		16		13
Produced lead:
Pounds (millions)	39		59		99		108
Tonnes (thousands)	18		27		45		49
Sold lead:
Pounds (millions)	36		50		98		97
Tonnes (thousands)	17		23		45		44
Produced zinc:
Pounds (millions)	88		147		226		278
Tonnes (thousands)	40		67		102		126
Sold zinc:
Pounds (millions)	89		124		216		285
Tonnes (thousands)	40		56		98		129

Average realized price:
Gold (per ounce)	$	4,414	$	3,320	$	4,661	$	3,128
Copper (per pound)	$	6.82	$	4.37	$	6.15	$	4.51
Copper (per tonne)	$	15,035	$	9,628	$	13,562	$	9,928
Silver (per ounce)	$	53.49	$	29.50	$	61.51	$	29.80
Lead (per pound)	$	0.88	$	0.88	$	0.85	$	0.88
Lead (per tonne)	$	1,931	$	1,927	$	1,884	$	1,942
Zinc (per pound)	$	1.64	$	1.13	$	1.52	$	1.13
Zinc (per tonne)	$	3,607	$	2,497	$	3,359	$	2,489

NEWMONT CORPORATION

RESULTS AND HIGHLIGHTS

(unaudited, in millions, except per share, per ounce, per pound, and per tonne)


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Operating Results (continued):
Consolidated costs applicable to sales: (3)(4)
Gold (per ounce)	$	1,463	$	1,215	$	1,384	$	1,221
Gold equivalent ounces - other metals (per ounce)	$	1,925	$	899	$	1,522	$	907
Copper (per tonne)	$	4,503	$	4,422	$	3,780	$	4,307
Silver (per ounce)	$	25	$	9	$	19	$	10
Lead (per tonne)	$	1,022	$	933	$	749	$	965
Zinc (per tonne)	$	1,603	$	1,376	$	1,341	$	1,445

All-in sustaining costs: (5)
Gold (per ounce)	$	1,938	$	1,593	$	1,822	$	1,623
Gold equivalent ounces - other metals (per ounce)	$	2,660	$	1,203	$	2,107	$	1,239
Copper (per tonne)	$	7,584	$	6,068	$	5,958	$	6,042
Silver (per ounce)	$	31	$	12	$	24	$	12
Lead (per tonne)	$	1,269	$	1,146	$	950	$	1,165
Zinc (per tonne)	$	2,088	$	1,659	$	1,791	$	1,866

____________________________

(1)The Fruta del Norte mine is wholly owned and operated by Lundin Gold Inc. ("Lundin Gold"), in which Newmont holds a 32% interest, and is accounted for as an equity method investment on a quarter lag.

(2)Attributable gold ounces sold excludes ounces related to the Pueblo Viejo mine and the Fruta del Norte mine.

(3)Excludes Depreciation and amortization and Reclamation and remediation.

(4)Calculated by dividing the costs applicable to sales of gold and other metals by gold ounces or gold equivalent ounces sold, respectively.

(5)All AISC figures are presented on a co-product basis; costs are allocated to co-product metals based upon the relative sales value, determined using GEO pricing, of gold and other metals produced during the period. Refer to Non-GAAP Financial Measures within Part I, Item 2, MD&A.

Second Quarter 2026 Highlights (dollars in millions, except per share, per ounce, per pound, and per tonne amounts, unless otherwise noted)

Net income:** Reported Net income (loss) attributable to Newmont stockholders of $2,202 or $2.06 per diluted share, an increase of $141 from the prior-year quarter primarily due to a net increase in Sales, largely reflecting higher average realized gold prices partially offset by lower sales volumes; partially offset by unrealized losses on marketable equity securities recognized in 2026, compared to unrealized gains in 2025, recognized within Other income (loss), net. Results for the current quarter were also affected by certain notable items impacting comparability to the prior-year quarter, including the contribution from Ahafo North following its achievement of commercial production in the fourth quarter of 2025 and designation as a reportable segment, completion of our divestment program in 2025, and the temporary suspension of operations at Cadia following seismic activity recorded near the operation on April 14, 2026.
Adjusted net income:** Reported Adjusted net income (loss) of $2,246 or $2.10 per diluted share, an increase of $0.67 per diluted share from the prior-year quarter (refer to Non-GAAP Financial Measures within Part I, Item 2, MD&A).
Adjusted EBITDA:** Reported $3,757 in Adjusted EBITDA, an increase of 25% from the prior-year quarter (refer to Non-GAAP Financial Measures within Part I, Item 2, MD&A).
Cash flow:** Reported Net cash provided by (used in) operating activities of $6,709 for the six months ended June 30, 2026, an increase of 52% from the prior year, and Free cash flow of $5,349 for the six months ended June 30, 2026 (refer to Non-GAAP Financial Measures within Part I, Item 2, MD&A).
Sustainability:** Published the Annual Sustainability Report, providing a transparent view of its safety and sustainability performance, and the Taxes and Royalties Contribution Report, providing an overview of the Company's tax strategy and economic contributions as part of its commitment to shared value creation.
Portfolio updates:** Received a 13% ownership interest in LunR Royalties Corp. with an initial fair value of $268 through a dividend-in-kind distribution from Lundin Gold.
Attributable production:** Produced 1.3 million attributable ounces of gold and 169 thousand attributable gold equivalent ounces from co-products (17 thousand tonnes of copper, 7 million ounces of silver, 18 thousand tonnes of lead, and 40 thousand tonnes of zinc).
Financial strength:** Ended the quarter with $9,009 of consolidated cash and $13,009 of total liquidity; repurchased $3,462 of common stock for the six months ended June 30, 2026. In July, settled an additional $606 of share repurchases and declared a dividend of $0.26 per share.

PART I—FINANCIAL INFORMATION

Next: Item 1. FINANCIAL STATEMENTS.