Company Summary
Colorado-based Newmont Corporation is one of the world's largest producers of gold with several active mines in Nevada, Peru, Australia and Ghana. As of Dec 31, 2023, Newmont had gold mineral reserves of more than 135.9 million ounces. Its attributable gold production for 2023 was 5.5 million ounces.
Newmont’s operating segments are North America, South America, Australia and Africa.
The North America segment has operations in Mexico, Canada and in the United States in both Colorado and Nevada. The South America segment is represented by operations in Suriname, Peru, Argentina and Dominican Republic. The Australia segment consists of Boddington and Tanami. Newmont fully owns and operates the Tanami mine. It also owns 100% of the Boddington mine. The Africa segment operations are represented by the fully-owned Ahafo and Akyem mines in Ghana.
The company closed the sale of its 48.5% ownership interest in PT Newmont Nusa Tenggara (PTNNT), which operates the Batu Hijau copper and gold mine in Indonesia, to PT Amman Mineral Internasional (PTAMI) on Nov 2, 2016. The asset’s name is now changed to PT Amman Mineral Nusa Tenggara (PTAMNT).
The company, in February 2014, completed the sale of its Midas underground operation and mill complex to Klondex Mines Ltd. The company, in March 2014, also sold its 5.4% equity interest in Paladin Energy Ltd. through a block sale deal with UBS Australia. Moreover, the company, in July 2014, completed the sale of its Jundee underground gold mine in Australia to Northern Star Resources for roughly $91 million. The company also completed the sale of its 44% stake in the Penmont joint venture in Mexico in October 2014 to Fresnillo plc for $477 million.
On Apr 18, 2019, Newmont completed the acquisition of all of the outstanding common shares of Goldcorp in a stock-for-stock transaction. The deal provides the company an investment-grade balance sheet and financial flexibility to pursue promising projects. Newmont also completed the purchase of Newcrest Mining Limited on Nov 6, 2023, creating an industry-leading portfolio of assets.