Newmont Corporation reports news on gold mining operations, mineral reserves, project development and capital allocation across its global portfolio. The company is a gold producer that also produces copper, zinc, lead and silver, with assets and prospects in Africa, Australia, Latin America & Caribbean, North America and Papua New Guinea.
Recurring updates include quarterly and annual results, gold and by-product production, cost and capital guidance, mineral reserve statements, dividends, share repurchase authorizations, debt reduction and portfolio optimization. Company news also covers operational milestones such as commercial production at Ahafo North in Ghana, exploration and organic project pipeline activity, and governance or leadership matters tied to its mining organization.
Newmont Corporation (NYSE: NEM, TSX: NGT) reported record performance in 2020, producing 5.9 million attributable ounces of gold and generating $4.9 billion in cash from continuing operations. The company declared an annual total dividend of $1.45 per share, up 38% from the previous quarter. With $5.5 billion in consolidated cash and a net debt to adjusted EBITDA ratio of 0.2x, Newmont remains financially robust. In 2021, it projects gold production of 6.5 million ounces. Newmont also achieved its best safety performance and was recognized as a top-ranked gold miner for the sixth consecutive year.
Newmont Corporation (NYSE: NEM, TSX: NGT) announced a quarterly dividend increase to $0.55 per share, payable on March 18, 2021, to shareholders of record as of March 4, 2021. This represents a 38% increase from the previous $0.40 dividend. The increase is based on a $1,800 per ounce gold price assumption and a 40% payout ratio from a projected $1.2 billion incremental free cash flow. Newmont's annualized dividend remains at $1.00 per share, sustainable at a $1,200 gold price, reflecting robust financial health and commitment to returning cash to shareholders.
Newmont Corporation (NYSE: NEM, TSX: NGT) reported gold Mineral Reserves of 94.2 million ounces for 2020, a decrease from 95.7 million ounces in 2019. The company replaced 80% of its depletion and added 6 million ounces through exploration, despite operational challenges due to the pandemic. Over 90% of its reserves are in top-tier jurisdictions, ensuring stable production for over 10 years. Newmont's strategic operations and disciplined model continue to solidify its position as the world's leading gold producer.
Newmont Corporation (NYSE: NEM, TSX: NGT) has launched the Newmont Global Center for Indigenous Community Relations to enhance engagement with Indigenous Peoples. This initiative aims to foster awareness, education, and collaboration within the mining sector. The center will focus on three key areas: Partnership and Learning Network, Respect for Customs and Culture, and Opportunities for Indigenous People. Based in Vancouver, Canada, it will collaborate with an Advisory Council and an internal team to improve practices across all operational jurisdictions globally.
Newmont Corporation (NYSE: NEM, TSX: NGT) has authorized a share repurchase program for up to $1.0 billion of common equity, with execution planned over the next 18 months. This initiative complements Newmont’s strong dividend framework, aiming to balance reinvestment and returns to shareholders. The program builds on a previous $1.0 billion buyback executed in 2020, which effectively retired 22 million shares at an average price of $45. Newmont's commitment has returned over $2.7 billion to shareholders since 2019 through dividends and buybacks.
Newmont Corporation (NYSE: NEM, TSX: NGT) will report its full year and Q4 2020 financial results on February 18, 2021, before market opens. A conference call is scheduled for 10 a.m. ET on the same day, also available via their website. Investors can access the results from the Investor Relations section of Newmont's website. With its global presence in mining, Newmont emphasizes its commitment to environmental, social, and governance practices.
Newmont Corporation (NYSE: NEM, TSX: NGT) will release its 2020 Reserves and Resources before market opens on February 10, 2021. An exploration update conference call is scheduled for 9 a.m. Eastern Time on the same day. Participants can join via specific dial-in numbers provided, and the event will also be available as a webcast on Newmont's website, where archive materials will be accessible post-conference. Newmont is recognized as the world's leading gold producer with a global portfolio of mining assets.
Newmont Corporation (NYSE: NEM, TSX: NGT) has successfully integrated the Alumbrera mine and infrastructure with Yamana Gold's Agua Rica project, creating the MARA project. This integration finalizes a joint venture where Newmont holds 18.75%, Glencore 25%, and Yamana 56.25%. President and CEO Tom Palmer highlighted that this partnership enhances the sustainability of both sites. The Agua Rica project will leverage Alumbrera's existing infrastructure to process ore, unlocking significant value and contributing to Newmont's world-class portfolio.
Newmont Corporation (NYSE: NEM) announced a robust outlook for gold production, projecting 6.5 million ounces for 2021 and between 6.2 to 6.7 million ounces for 2022-2023. The All-in Sustaining Costs (AISC) are forecasted to improve from $970 per ounce in 2021 to $800-$900 by 2024-2025. Capital expenditures are estimated at $950 million for 2021, with a sustainable dividend of $1.00 per share. Additionally, Newmont is investing $500 million in climate initiatives to cut emissions by 30% by 2030. The company aims for a stable, growth-focused trajectory while returning over $2.7 billion to shareholders since 2019.
Newmont Corporation (NYSE: NEM) announced the successful completion of two critical projects at its Musselwhite mine in Ontario, Canada. The full commissioning of the conveyor system and the material handling project will enhance efficiency by reducing haul distances, allowing ore to be moved from underground crushers to the surface effectively. CEO Tom Palmer highlighted the team's efforts in overcoming challenges posed by COVID-19, emphasizing Musselwhite's long-term significance in Newmont's North America portfolio.