Welcome to our dedicated page for Newmont news (Ticker: NEM), a resource for investors and traders seeking the latest updates and insights on Newmont stock.
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 (NYSE: NEM) announced that its wholly-owned subsidiary, Newcrest Canada Holdings Inc., has sold all 14,674,056 common shares of Azucar Minerals to Almadex Minerals and certain directors and officers of Azucar. The transaction, completed on October 21, 2024, was valued at $220,110.84 ($0.015 per share). This sale represents Newmont's complete divestment of its approximately 19.9% stake in Azucar, reducing its ownership from 19.9% to 0%. The transaction was executed under the private agreement exemption of National Instrument 62-104.
Newmont (NYSE: NEM) has commissioned its first battery-electric large mining truck at the Cripple Creek and Victor mine in Colorado. The Early Learner Cat® 793 XE represents a significant step in Newmont's commitment to reducing greenhouse gas emissions. The initiative is part of Newmont's strategic alliance with Caterpillar Inc. and aims to address emissions from diesel combustion machines in surface and underground mining operations. Both companies will focus on validating and testing the vehicle to understand its implementation and impact, potentially setting new industry standards for sustainable mining practices.
Newmont (NYSE: NEM) has been awarded the U.S. Secretary of State's Award for Corporate Excellence in the Climate Resilience category for its operations in Suriname. The award recognizes Newmont's contributions to Suriname's economic development and sustainability efforts. The company has implemented programs supporting local businesses, worked with Artisanal Small-Scale Miners on land reclamation, and provided capacity-building initiatives and financial assistance to develop small business opportunities. CEO Tom Palmer emphasized Newmont's commitment to creating value through responsible mining and supporting Suriname's green development goals.
Newmont's Cadia operation in Orange, NSW has achieved The Copper Mark and The Molybdenum Mark following an independent assessment of responsible production practices. Cadia, Australia's largest underground mine, is Newmont's first site globally to receive these awards after meeting over 30 criteria in areas including environment, community, human rights, and governance. The mine is Australia's second-largest copper producer and the only operating molybdenum producer in the country. The operation has a 15-year renewable Power Purchase Agreement with Tilt Renewables for 55% of wind farm output and invested nearly $6 million AUD in community projects during the 18 months to December 2023.
Newmont (NYSE: NEM) reported third quarter 2024 results, delivering 2.1 million gold equivalent ounces and generating $760 million in free cash flow. The company produced 1.7 million attributable gold ounces and 430 thousand gold equivalent ounces from other metals. Key financial highlights include $1.6 billion in operating cash flow and net income of $924 million. Newmont announced agreements to sell Akyem mine for up to $1 billion and Telfer mine with 70% of Havieron project for up to $475 million. The company declared a Q3 dividend of $0.25 per share and completed $750 million in share repurchases since February 2024, with an additional $2 billion share repurchase program authorized.
Newmont and MKS PAMP have partnered to launch a traceable gold bar made exclusively with Newmont-mined gold, refined and minted by MKS PAMP in Switzerland. The PAMP 1oz Lady of Liberty gold bar is now available at the largest U.S. wholesaler, making gold ownership more accessible for wealth building.
The traceable gold bar utilizes the Provenance™ solution, which ensures complete segregation of the gold throughout the refining and minting process, guaranteeing transparency and full traceability. The bar is sealed within a secured CertiPAMP™ packaging, serving as a certificate of authenticity and quality excellence.
This collaboration marks the launch of their first co-branded traceable gold bar, reflecting their shared values and sustainability commitments. Notably, Newmont is the only gold producer listed in the S&P 500 Index and is recognized for its environmental, social, and governance practices.
Newmont (NYSE: NEM) has announced a definitive agreement to sell its Akyem operation in Ghana to Zijin Mining Group for up to $1 billion. This divestiture aligns with Newmont's strategy to focus on Tier 1 assets. The deal includes $900 million in cash upon closing and a potential additional $100 million subject to certain conditions.
The transaction, expected to close in Q4 2024, supports Newmont's capital allocation priorities, including strengthening its balance sheet and returning capital to shareholders. Newmont remains committed to Ghana, with plans to invest $950 million to $1,050 million in the Ahafo North gold mining project. The company ensured a fair divestment process, including opportunities for Ghanaian buyers and involvement of the Minerals Income Investment Fund (MIIF).
Newmont (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) has announced its upcoming Third Quarter 2024 Earnings Conference Call. The company will release its Q3 2024 operations and financial results after market close on Wednesday, October 23, 2024. A conference call to discuss these results is scheduled for Thursday, October 24, 2024, at 11:00 a.m. Eastern Daylight Time (9:00 a.m. Mountain Daylight Time).
Interested parties can join the call using the provided dial-in numbers and access code. A replay of the call will be available, and webcast materials will be accessible on the company's website under the Investor Relations section after market close on October 23. The conference call will also be archived on Newmont's website for a time.
Newmont (NYSE: NEM) has agreed to sell its Telfer operation, 70% interest in the Havieron gold-copper project, and other assets in Australia's Paterson region to Greatland Gold plc for up to $475 million. The transaction, expected to close in Q4 2024, includes:
- $207.5 million in cash
- $167.5 million in Greatland shares
- Up to $100 million in deferred contingent cash
This divestiture is part of Newmont's program to sell non-core assets, aiming for at least $2 billion in total proceeds. The company maintains its 2024 Tier 1 portfolio guidance, with minor adjustments to non-core production. Newmont's total attributable gold production for 2024 is projected at 6,750 Koz, with 5,630 Koz from Tier 1 assets.
Newmont (NYSE: NEM) announces that Lori Douglas, Head of Productivity for North America, has been honored as one of Paradigm for Parity's Women on the Rise for 2024. This recognition highlights Douglas's exceptional leadership and commitment to advancing women in the workplace. As executive sponsor of the Cripple Creek & Victor mine's Women and Allies Business Resource Group, she has led efforts to break down barriers for women in the mining industry.
Jennifer Cmil, Newmont's Chief People Officer, praised Douglas's role in championing IDE practices and driving cultural shifts to improve employee experience. The award celebrates women who are catalysts for change, embodying qualities such as courage, innovation, and dedication to fostering diversity and inclusion. Newmont, a founding member of the Paradigm for Parity coalition since 2016, continues its commitment to closing the gender gap and creating an inclusive work environment.