Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) reported higher gold Mineral Reserves ("reserves") of 135.9 million attributable ounces for 2023 compared to the Company's 96.1 million ounces at the end of 2022. Newmont has significant upside to other metals, including more than 30 billion pounds of copper reserves and nearly 600 million ounces of silver reserves.
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"Newmont has strengthened its position as the responsible gold leader with the industry's highest concentration of quality operations, reserves and resources," said Tom Palmer, Newmont's President and Chief Executive Officer. "In 2023, we added more than 47 million ounces of gold reserves and 14 billion pounds of copper reserves through the acquisition of Newcrest and the continuation of our industry-leading exploration program. With the largest gold and copper reserve base in the industry, Newmont is well-positioned to deliver stable production and meaningful value to stakeholders today and in the future."
2023 Reserves & Resources Highlights
Robust gold reserves of 135.9 million ounces
Newcrest acquisition accounted for net addition of 44 million ounces of gold reserves in 2023 (net of revisions)
Nearly all gold and copper reserves and resources are attributable to the Newmont Tier 1 Portfolio(1)
Underpinned by a strong base of operating sites with gold reserve life of 10 years or more, including Boddington, Lihir, Cadia, Tanami, Ahafo, Merian, Pueblo Viejo and Nevada Gold Mines (NGM), and further enhanced by Newmont's broader portfolio and organic project pipeline
Measured & Indicated Gold Mineral Resources of 104.8 million ounces and Inferred Resources of 69.1 million ounces
Significant exposure to copper with 30.1 billion pounds in reserves, 33.1 billion pounds in Measured & Indicated resources and 24.0 billion pounds in Inferred resources; nearly all copper reserves and resources are attributable to the Newmont Tier 1 Portfolio(1)
Additional exposure to other metals including silver, lead, zinc, and molybdenum
Percentage of Gold Reserves by Jurisdiction(2)
Newmont's reserve base is a key differentiator with an average reserve grade of 0.97 grams per tonne and an operating reserve life of more than ten years at six managed sites and two non-managed joint ventures, with significant upside potential from a robust organic project pipeline. In addition, Newmont has substantial exposure to other metals, with 112 million gold equivalent ounces(3) of reserves from copper, silver, lead, zinc, and molybdenum.
 | PROVEN AND PROBABLE GOLD RESERVES(1)
In thousands of ounces
2022 Gold Reserves 96.1 96.1
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Additions 2.8 2.8
Acquisitions(4) 55.9 55.9
Net Revisions (11.6 (11.6 )
Depletion (7.3 (7.3 )
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For 2023, Newmont reported 135.9 million ounces of gold Mineral Reserves, a 41 percent increase from the prior year total of 96.1 million ounces. The acquisition of Newcrest drove the increase by adding a net 44.3 million ounces after revisions, primarily due to changes in regulatory requirements and technical assumptions.
The gold reserve increases were primarily driven by Lihir and Cadia acquired in the Newcrest transaction; notably,
Lihir added 17.5 million ounces of reserves, with a projected mine life of 16 years
Cadia added 14.7 million ounces of reserves, with a projected mine life of 34 years
These increases were supported by over 3 million ounces at the Brucejack mine, over 5 million ounces at the Wafi-Golpu project and nearly 4 million ounces the Red Chris project.
Newmont's legacy sites had additions through drilling of 2.2 million ounces, which were offset by net negative revisions of 1.8 million ounces driven by Penasquito, Tanami, Musselwhite and Ahafo. Penasquito site had net negative revisions of 0.6 million ounces, before depletion, primarily due to an updated resource model that will further support future production planning. Sites including Eleonore, Porcupine, Cerro Negro and Merian substantially replaced depletion.
Newmont's 38.5 percent interest in NGM represented 18.3 million attributable ounces of gold reserves at year end, compared to 18.6 million ounces at the end of 2022. Newmont's 40 percent interest in Pueblo Viejo represented 8.0 million attributable ounces of gold reserves at year end, compared to 8.2 million ounces at the end of 2022.
Gold reserve grade decreased 10 percent to 0.97 grams per tonne compared to 1.09 grams per tonne in the prior year, primarily due to the lower grade of the acquired Newcrest assets.
| GOLD RESOURCES(5)
In thousands of ounces
2022 Gold Resources 111.5 111.5
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Additions 5.8 5.8
Acquisitions(4) 74.6 74.6
Net Revisions (11.9 (11.9 )
Conversions (6.1 (6.1 )
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In 2023, Newmont reported Measured and Indicated Gold Mineral Resources of 104.8 million ounces, a 39 percent increase from the prior year total of 75.3 million ounces. Inferred Gold Mineral Resources totaled 69.1 million ounces, a 91 percent increase from the prior year total of 36.1 million ounces. The Newcrest acquisition added a total of 66.1 million ounces of resource growth to the Newmont portfolio, with reported Measured and Indicated Gold Mineral Resources of 32.3 million ounces and Inferred Gold Mineral Resources of 33.8 million ounces.
Total Mineral Resources at Newmont's legacy sites were largely unchanged from 2022, with 90.4 million ounces in 2023 compared to 92.3 million ounces in 2022. Significant growth in resources was supported by the acquisition of the Tier 1 assets at Cadia and Lihir, with the addition of 20.6 and 20.2 million ounces, respectively. The newly acquired projects of Wafi-Golpu, Namosi and Red Chris contributed nearly 17 million ounces of total resources.
Total Mineral Resources at Tanami increased by approximately 1.0 million ounces due to the addition of the Oberon Underground project. Total Mineral Resources at Penasquito decreased by 2.2 million ounces due to the updated resource model and technical assumptions that resulted in the removal of a resource layback at the Penasco pit. The layback could come back into Mineral Resources pending additional optimization work, including cost reductions, metallurgical recovery enhancements and metal price increases.
Newmont's Measured and Indicated Gold Mineral Resource grade decreased to 0.57 grams per tonne compared to 0.67 grams per tonne in the prior year. Inferred Gold Mineral Resource grade of 0.6 grams per tonne decreased compared to 0.7 grams per tonne in the prior year.
OTHER METALS
In 2023, copper reserves and resources increased significantly, primarily due to the addition of the assets acquired in the Newcrest transaction, particularly Cadia, Wafi-Golpu and Red Chris. Copper reserves increased to 30.1 billion pounds from 15.7 billion pounds in the prior year, with a 20 percent increase in reserve grade from 0.29% in 2022 to 0.35% in 2023. Measured and Indicated copper resources increased to 33.1 billion pounds from 17.9 billion pounds. Inferred copper resources increased to 24.0 billion pounds from 8.6 billion pounds.
Silver reserves were largely stable at 596 million ounces compared to 593 million ounces in the prior year, primarily due to the addition of the assets acquired in the Newcrest transaction, specifically Brucejack and Cadia, which offset depletion and negative revisions at Penasquito as a result of the updated resource model. Silver resources decreased during the year due to the impact of the negative revisions at Penasquito, which were partially offset by the Newcrest asset additions. Measured and Indicated silver resources decreased to 457 million ounces from 500 million ounces in the prior year. Inferred silver resources decreased to 108 million ounces from 152 million ounces in the prior year.
Lead and zinc reserves and resources were impacted by the updated resource model at Penasquito. Lead reserves decreased to 2.1 billion pounds from 2.3 billion pounds, Measured and Indicated lead resources decreased to 1.4 billion pounds from 1.6 billion pounds, and Inferred lead resources decreased to 100 million pounds from 440 million pounds in the prior year. Zinc reserves decreased to 4.9 billion pounds from 5.5 billion pounds, Measured and Indicated zinc resources decreased to 3.3 billion pounds from 3.7 billion pounds, and Inferred zinc resources decreased to 0.3 billion pounds from 1.0 billion pounds in the prior year.
Molybdenum reserves of 500 million pounds were declared in the current year due to the addition of the operating site at Cadia. Measured and Indicated molybdenum resources increased to 200 million pounds, with Inferred molybdenum resources of 100 million pounds.
NOTES ON NEWMONT'S DECLARATION
Newmont has reported the assets acquired in the Newcrest transaction in accordance with the Securities and Exchange Commission's (SEC's) rule S-K 1300 which has different requirements than those in the Joint Ore Reserves Committee (JORC) 2012 guidance, which was the ruling the assets were previously declared under. These differences include a requirement to report only the attributable portion of the company's Mineral Reserves and Mineral Resources and to report Mineral Resources as Exclusive of Reserves, whereas the previous declaration of Mineral Resources were at 100% and included the metal also declared as Mineral Reserves.
EXPLORATION OUTLOOK
Newmont's attributable exploration expenditure for managed operations is expected to be approximately $270 million in 2024 with 70 percent of total exploration investment dedicated to near-mine expansion programs and brownfields and the remaining 30 percent allocated to the advancement of greenfield projects.
Additionally, Newmont's share of exploration investment for its non-managed operations is expected to be approximately $30 million, for a total consolidated exploration expense outlook of $300 million for 2024.
Geographically, the Company expects to invest approximately 27 percent in North America, 22 percent in Australia, 21 percent in South America and the remainder in Papua New Guinea, Africa and other locations.
GOLD RESERVE SENSITIVITY
A $100 increase in gold price would result in an approximate 5 percent increase in gold reserves while a $100 decrease in gold price would result in an approximate 6 percent decrease in gold reserves. These sensitivities assume an oil price of $75 per barrel (WTI), Australian dollar exchange rate of $0.70 and Canadian dollar exchange rate of $0.75. These sensitivities assume all other inputs remain equal, including all cost and capital assumptions, which may also have a material impact on these approximate estimates.
| KEY RESERVE AND RESOURCE ASSUMPTIONS(6)
At December 31,
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2023 2022
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Gold Reserves ($/oz) $1,400 $1,400
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Gold Resources ($/oz) $1,600 $1,600
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Copper Reserves ($/lb) $3.50 $3.50
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Copper Resources ($/lb) $4.00 $4.00
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Silver Reserves ($/oz) $20.00 $20.00
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Silver Resources ($/oz) $23.00 $23.00
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Lead Reserves ($/lb) $1.00 $1.00
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Lead Resources ($/lb) $1.20 $1.20
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Zinc Reserves ($/lb) $1.20 $1.20
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Zinc Resources ($/lb) $1.45 $1.45
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Molybdenum Reserves ($/lb) $8.00 --
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Molybdenum Resources ($/lb) $10.00 --
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Tungsten Resources ($/lb) $16.00 --
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Australian Dollar (A$:US$) $0.70 $0.75
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Canadian Dollar (C$:US$) $0.75 $0.80
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For additional details on Newmont's reported gold, copper, silver, lead, zinc, molybdenum and tungsten Mineral Reserves and Mineral Resources, please refer to the tables at the end of this release.
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(1) Newmont's go-forward portfolio is focused on Tier 1 assets, consisting of (1) six managed Tier 1 assets (Boddington, Tanami, Cadia, Lihir, Penasquito and Ahafo), (2) assets owned through two non-managed joint ventures at Nevada Gold Mines and Pueblo Viejo, including four Tier 1 assets (Carlin, Cortez, Turquoise Ridge and Pueblo Viejo), (3) three emerging Tier 1 assets (Merian, Cerro Negro and Yanacocha), which do not currently meet the criteria for Tier 1 Asset, and (4) an emerging Tier 1 district in the Golden Triangle in British Columbia (Red Chris and Brucejack), which does not currently meet the criteria for Tier 1 Asset. Newmont's Tier 1 portfolio also includes attributable production from the Company's equity interest in Lundin Gold (Fruta del Norte). Tier 1 Portfolio cost and capital metrics include the proportional share of the Company's interest in the Nevada Gold Mines Joint Venture.
(2) North America includes 38.5 percent interest in Nevada Gold Mines; South America includes Newmont's 40 percent interest in Pueblo Viejo.
(3) Gold Equivalent Ounces (GEOs) are calculated using 2023 Mineral Reserve pricing for Gold ($1,400/oz.), Copper ($3.50/lb.), Silver ($20.00/oz.), Lead ($1.00/lb.), Zinc ($1.20/lb.) and Molybdenum ($8.00/lb.) and Resource pricing for Gold ($1,600/oz.), Copper ($4.00/lb.), Silver ($23.00/oz.), Lead ($1.20/lb.), Zinc ($1.45/lb.), Molybdenum ($10.00/lb.), Tungsten ($16.00/lb.) and metallurgical recoveries for each metal on a site by site basis, as metal * [(metal price * metal recovery) / (gold price * gold recovery)].
(4) In 2023, Newmont completed the acquisition of Newcrest Mining Limited ("Newcrest").
(5)Includes Measured and Indicated Gold Mineral Resources and Inferred Gold Mineral Resources.
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RESERVE AND RESOURCE TABLES
Proven and probable reserves are based on extensive drilling, sampling, mine modeling and metallurgical testing from which Newmont determined economic feasibility. The reference point for mineral reserves is the point of delivery to the process plant. Metal price assumptions, adjusted for Newmont's 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.
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, molybdenum and tungsten as well as increased production costs or reduced metallurgical recovery rates, could change future estimates of resources.
Newmont publishes reserves annually, and will recalculate reserves at December 31, 2024, 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 2024.
Please refer to the reserves and resources cautionary statement at the end of the release.
| Gold Reserves (1)
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December 31, 2023 December 31, 2022
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Proven Reserves Probable Reserves Proven and Probable Reserves Proven and Probable Reserves
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Deposits/Districts Newmont Tonnage (2) Grade Ounces (3) Tonnage (2) Grade Ounces (3) Tonnage (2) Grade Ounces (3) Metallurgical Tonnage (2) Grade Ounces (3)
Share (000 tonnes) (g/tonne) (000) (000 tonnes) (g/tonne) (000) (000 tonnes) (g/tonne) (000) Recovery (3) (000 tonnes) (g/tonne) (000)
---------------------------------------------------- -------------------- -------------- -------------- -------------- -------------- -------------- -------------- ------------ --------- ---------- -------------------- -------------- -------------- --------------
100% 38,800 0.42 500 7,800 0.35 100 46,600 0.40 600 58% 61,400 0.37 740
CC&V Open Pit
100% -- -- -- 28,300 0.74 700 28,300 0.74 700 56% 32,600 0.78 820
CC&V Leach Pads (4)
-------------- -------------- -------------- -------------- ------------ ---------- -------------- --------------
38,800 0.42 500 36,100 0.66 800 75,000 0.53 1,300 57% 94,000 0.52 1,560
Total CC&V, United States (5)
100% 3,200 6.78 700 3,800 6.30 800 7,000 6.52 1,500 96% 10,400 5.76 1,920
Musselwhite, Canada (6)
100% 1,400 7.06 300 1,600 8.34 400 3,000 7.75 700 94% 2,500 8.49 690
Porcupine Underground (7)
100% 3,200 1.43 100 26,600 1.54 1,300 29,700 1.53 1,500 93% 34,500 1.46 1,610
Porcupine Open Pit (8)
-------------- -------------- -------------- -------------- ------------ ---------- -------------- --------------
4,500 3.14 500 28,200 1.93 1,700 32,700 2.10 2,200 93% 37,000 1.93 2,300
Total Porcupine, Canada
100% 2,100 5.08 300 6,800 5.47 1,200 8,900 5.38 1,500 92% 9,400 5.22 1,570
Eleonore, Canada (9)
70% -- -- -- 30,200 0.37 300 30,200 0.37 300 53% -- -- --
Red Chris Open Pit
70% -- -- -- 171,700 0.64 3,500 171,700 0.64 3,500 70% -- -- --
Red Chris Underground
-------------- -------------- -------------- -------------- ------------ ---------- -------------- --------------
-- -- -- 201,900 0.60 3,900 201,900 0.60 3,900 68% -- -- --
Total Red Chris, Canada (10)(33)
100% -- -- -- 11,500 8.44 3,100 11,500 8.44 3,100 96% -- -- --
Brucejack, Canada (11)(33)
100% 123,700 0.57 2,200 167,300 0.44 2,400 291,000 0.50 4,600 59% 316,500 0.53 5,410
Penasquito, Mexico (12)(31)
75% 29,600 1.19 1,100 74,400 1.15 2,800 104,000 1.16 3,900 93% 104,800 1.16 3,900
Merian, Suriname (13)
100% 1,900 11.81 700 7,300 10.75 2,500 9,200 10.97 3,200 94% 9,400 10.02 3,030
Cerro Negro, Argentina (14)
-------------- -------------- -------------------- -------------- -------------- -------------------- ------------ ---------- -------------- --------------
100% 21,700 0.80 600 107,000 0.75 2,600 128,600 0.76 3,200 56% 146,500 0.72 3,380
Yanacocha Open Pit (15)
100% -- -- -- 12,300 6.06 2,400 12,300 6.06 2,400 97% 12,300 6.06 2,400
Yanacocha Underground (16)
-------------- -------------- -------------- -------------- ------------ ---------- -------------- --------------
21,700 0.80 600 119,200 1.30 5,000 140,900 1.22 5,500 73% 158,800 1.13 5,780
Total Yanacocha, Peru (31)
40% 25,800 2.28 1,900 50,800 2.08 3,400 76,600 2.15 5,300 82% 78,500 2.19 5,530
Pueblo Viejo Open Pit
40% -- -- -- 39,700 2.12 2,700 39,700 2.12 2,700 83% 38,200 2.17 2,670
Pueblo Viejo Stockpiles (17)
-------------- -------------- -------------- -------------- ------------ ---------- -------------- --------------
25,800 2.28 1,900 90,500 2.10 6,100 116,300 2.14 8,000 82% 116,600 2.19 8,200
Total Pueblo Viejo, Dominican Republic (18)(31)
50% -- -- -- 341,100 0.47 5,100 341,100 0.47 5,100 66% 341,100 0.47 5,110
NuevaUnion, Chile (19)(30)
50% -- -- -- 598,800 0.60 11,600 598,800 0.60 11,600 74% 598,800 0.60 11,620
Norte Abierto, Chile (20)(30)
100% 215,300 0.67 4,600 192,600 0.64 3,900 407,900 0.66 8,600 85% 446,700 0.66 9,490
Boddington Open Pit
100% 2,000 0.72 -- 70,000 0.43 1,000 72,000 0.44 1,000 80% 78,300 0.43 1,090
Boddington Stockpiles (17)
-------------- -------------- -------------- -------------- ------------ ---------- -------------- --------------
217,300 0.67 4,700 262,600 0.58 4,900 479,900 0.62 9,600 84% 524,900 0.63 10,580
Total Boddington, Australia (10)
100% 9,900 5.58 1,800 16,600 5.71 3,100 26,600 5.66 4,800 98% 33,000 5.34 5,660
Tanami, Australia (21)
100% -- -- -- 1,102,300 0.42 14,700 1,102,300 0.42 14,700 81% -- -- --
Cadia, Australia (22)(31)(33)
100% -- -- -- 159,900 2.76 14,200 159,900 2.76 14,200 78% -- -- --
Lihir Open Pits
100% -- -- -- 57,200 1.83 3,400 57,200 1.83 3,400 78% -- -- --
Lihir Stockpiles (17)
-------------- -------------- -------------- -------------- ------------ ---------- -------------- --------------
-- -- -- 217,100 2.51 17,500 217,100 2.51 17,500 78% -- -- --
Total Lihir, Papua New Guinea (23)(31)(33)
50% -- -- -- 194,500 0.82 5,100 194,500 0.82 5,100 68% -- -- --
Wafi-Golpu, Papua New Guinea (10)(30)(33)
100% 5,200 2.76 500 35,500 1.68 1,900 40,700 1.82 2,400 90% 47,600 1.81 2,770
Ahafo South Open Pit (24)
100% 8,300 3.13 800 14,300 2.35 1,100 22,600 2.64 1,900 94% 22,600 3.06 2,230
Ahafo South Underground (25)
100% 23,400 1.01 800 -- -- -- 23,400 1.01 800 91% 22,100 0.91 640
Ahafo South Stockpiles (17)(26)
-------------- -------------- -------------- -------------- ------------ ---------- -------------- --------------
36,900 1.73 2,100 49,800 1.88 3,000 86,700 1.82 5,100 92% 92,300 1.90 5,650
Total Ahafo South, Ghana
100% 26,000 2.38 2,000 27,100 2.43 2,100 53,100 2.41 4,100 91% 50,100 2.37 3,820
Ahafo North, Ghana (27)
100% 13,000 1.52 600 5,900 1.61 300 19,000 1.55 900 90% 22,300 1.66 1,190
Akyem Open Pit
100% 6,700 0.78 200 -- -- -- 6,700 0.78 200 90% 11,900 0.71 270
Akyem Stockpiles (17)
-------------- -------------- -------------- -------------- ------------ ---------- -------------- --------------
19,700 1.27 800 5,900 1.61 300 25,600 1.35 1,100 90% 34,200 1.33 1,460
Total Akyem, Ghana (28)
38.5% -- -- -- 154,700 1.01 5,000 154,700 1.01 5,000 77% 159,400 1.00 5,110
NGM Open Pit
38.5% 15,100 2.01 1,000 14,000 2.44 1,100 29,100 2.22 2,100 69% 25,100 2.32 1,880
NGM Stockpiles (17)
38.5% 5,100 11.58 1,900 35,100 8.19 9,300 40,200 8.62 11,100 87% 41,300 8.75 11,610
NGM Underground
-------------- -------------- -------------- -------------- ------------ ---------- -------------- --------------
20,200 4.42 2,900 203,900 2.35 15,400 224,100 2.54 18,300 82% 225,800 2.56 18,590
Total NGM, United States (29)
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| (1) Gold reserves, at sites in which Newmont is the operator for 2023 and 2022, were estimated at a gold price of $1,400 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. Gold reserves, at sites in which Newmont is the operator for 2023 and 2022, were estimated at a gold price of $1,400 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 the nearest 100,000. 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 in 2023 and nearest 10,000 in 2022. 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 in 2023 and nearest 10,000 in 2022.
(4) 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. 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.
(5) Cut-off grade utilized in 2023 reserves not less than 0.10 gram per tonne. Cut-off grade utilized in 2023 reserves not less than 0.10 gram per tonne.
(6) Cut-off grade utilized in 2023 reserves not less than 3.80 gram per tonne. Cut-off grade utilized in 2023 reserves not less than 3.80 gram per tonne.
(7) Cut-off grade utilized in 2023 reserves not less than 4.89 gram per tonne. Cut-off grade utilized in 2023 reserves not less than 4.89 gram per tonne.
(8) Cut-off grade utilized in 2023 reserves not less than 0.64 gram per tonne. Cut-off grade utilized in 2023 reserves not less than 0.64 gram per tonne.
(9) Cut-off grade utilized in 2023 reserves not less than 4.11 gram per tonne. Cut-off grade utilized in 2023 reserves not less than 4.11 gram per tonne.
(10) Gold cut-off grade varies with level of copper credits. Gold cut-off grade varies with level of copper credits.
(11) Gold cut-off grade varies with level of silver credits. Gold cut-off grade varies with level of silver credits.
(12) Gold cut-off grade varies with level of silver, lead, and zinc credits. Gold cut-off grade varies with level of silver, lead, and zinc credits.
(13) Cut-off grade utilized in 2023 reserves not less than 0.29 gram per tonne. Cut-off grade utilized in 2023 reserves not less than 0.29 gram per tonne.
(14) Cut-off grade utilized in 2023 reserves not less than 4.30 gram per tonne. Cut-off grade utilized in 2023 reserves not less than 4.30 gram per tonne.
(15) Gold cut-off grades utilized in 2023 reserves were as follows: oxide leach material not less than 0.14 gram per tonne and refractory mill material not less than 1.23 gram per tonne. Gold cut-off grades utilized in 2023 reserves were as follows: oxide leach material not less than 0.14 gram per tonne and refractory mill material not less than 1.23 gram per tonne.
(16) Gold cut-off grades utilized in 2023 were as follows: oxide mill material not less than 3.37 gram per tonne and refractory mill material varies with level of copper and silver credits. Gold cut-off grades utilized in 2023 were as follows: oxide mill material not less than 3.37 gram per tonne and refractory mill material varies with level of copper and silver credits.
(17) 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. 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.
(18) The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Reserve estimates provided by Barrick, the operator of Pueblo Viejo. The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Reserve estimates provided by Barrick, the operator of Pueblo Viejo.
(19) Project is currently undeveloped. Reserve estimates provided by the NuevaUnion joint venture. Project is currently undeveloped. Reserve estimates provided by the NuevaUnion joint venture.
(20) Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture. Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture.
(21) Cut-off grade utilized in 2023 reserves not less than 2.40 gram per tonne. Cut-off grade utilized in 2023 reserves not less than 2.40 gram per tonne.
(22) Gold cut-off grade varies with level of copper, silver, and molybdenum credits. Gold cut-off grade varies with level of copper, silver, and molybdenum credits.
(23) Cut-off grade utilized in 2023 reserves not less than 1.20 gram per tonne. Cut-off grade utilized in 2023 reserves not less than 1.20 gram per tonne.
(24) Cut-off grade utilized in 2023 reserves not less than 0.63 gram per tonne. Cut-off grade utilized in 2023 reserves not less than 0.63 gram per tonne.
(25) Cut-off grade utilized in 2023 reserves not less than 2.20 gram per tonne. Cut-off grade utilized in 2023 reserves not less than 2.20 gram per tonne.
(26) Cut-off grade utilized in 2023 reserves not less than 0.56 gram per tonne. Cut-off grade utilized in 2023 reserves not less than 0.56 gram per tonne.
(27) Cut-off grade utilized in 2023 reserves not less than 0.58 gram per tonne. Cut-off grade utilized in 2023 reserves not less than 0.58 gram per tonne.
(28) Cut-off grade utilized in 2023 reserves not less than 0.52 gram per tonne. Cut-off grade utilized in 2023 reserves not less than 0.52 gram per tonne.
(29) Reserve estimates provided by Barrick, the operator of the NGM joint venture. Reserve estimates provided by Barrick, the operator of the NGM joint venture.
(30) Currently included in Corporate and Other which includes the Company's business activities relating to its corporate and regional offices and all equity method investments. Currently included in Corporate and Other which includes the Company's business activities relating to its corporate and regional offices and all equity method investments.
(31) Amounts presented herein have been rounded to the nearest 100,000 in 2023 and nearest 10,000 in 2022 for ounces and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties. Amounts presented herein have been rounded to the nearest 100,000 in 2023 and nearest 10,000 in 2022 for ounces and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties.
(32) In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura's 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest. In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura's 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest.
| |
| Gold Resources (1)(2) - December 31, 2023
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Measured Resource Indicated Resource Measured and Indicated Resource Inferred Resource
------------------------------------------ ------------------------------------------ -------------------------------- ------------------------------------------ --------------------
Deposits/Districts Newmont Tonnage Grade Ounces(3) Tonnage Grade Ounces(3) Tonnage Grade Ounces(3) Tonnage Grade Ounces(3) Metallurgical
Share (000 tonnes) (g/tonne) (000) (000 tonnes) (g/tonne) (000) (000 tonnes) (g/tonne) (000) (000 tonnes) (g/tonne) (000) Recovery (3)
--------------------------------------------- -------------------- -------------- -------------- -------------- -------------- -------------- -------------- ------------ ---------- ---------- -------------- -------------- -------------- --------------------
100% 77,400 0.43 1,100 43,700 0.36 500 121,100 0.40 1,600 22,400 0.43 300 56%
CC&V, United States
100% 900 4.36 100 1,300 4.17 200 2,200 4.25 300 1,200 4.96 200 96%
Musselwhite, Canada
100% 200 4.55 -- 1,100 6.89 200 1,300 6.49 300 2,400 8.04 600 94%
Porcupine Underground
100% 100 0.60 -- 66,300 1.65 3,500 66,300 1.65 3,500 59,800 1.46 2,800 92%
Porcupine Open Pit
-------------- -------------- -------------- -------------- ------------ ---------- -------------- --------------
300 3.67 -- 67,400 1.73 3,800 67,700 1.74 3,800 62,200 1.71 3,400 92%
Total Porcupine, Canada
100% 700 4.59 100 2,100 4.70 300 2,800 4.68 400 1,800 5.70 300 92%
Eleonore, Canada
70% -- -- -- 334,700 0.34 3,600 334,700 0.34 3,600 62,100 0.35 700 55%
Red Chris, Canada (11)
100% -- -- -- 1,800 7.64 500 1,800 7.64 500 12,100 10.35 4,000 96%
Brucejack, Canada (11)
100% 900 2.14 100 49,300 1.27 2,000 50,200 1.28 2,100 6,700 1.04 200 81%
Coffee, Canada
50% 212,800 0.29 2,000 385,600 0.22 2,700 598,400 0.25 4,700 118,900 0.19 700 75%
Galore Creek, Canada (4)
100% 37,400 0.26 300 157,300 0.22 1,100 194,700 0.23 1,400 22,800 0.19 100 57%
Penasquito, Mexico (9)
50% -- -- -- 19,900 0.37 200 19,900 0.37 200 1,600 0.21 -- 50%
Noche Buena, Mexico
75% 6,000 1.01 200 38,000 1.10 1,300 44,000 1.09 1,500 30,800 1.00 1,000 88%
Merian, Suriname
100% 1,300 3.71 200 2,100 6.17 400 3,400 5.22 600 6,200 4.73 900 94%
Cerro Negro, Argentina
100% -- -- -- 693,800 0.65 14,600 693,800 0.65 14,600 230,500 0.39 2,900 75%
Conga, Peru
100% 16,800 0.41 200 111,300 0.43 1,500 128,000 0.42 1,700 186,500 0.80 4,800 67%
Yanacocha Open Pit
100% 500 4.07 100 6,200 4.70 900 6,700 4.65 1,000 3,400 4.99 500 97%
Yanacocha Underground
-------------- -------------- -------------- -------------- ------------ ---------- -------------- --------------
17,300 0.52 300 117,500 0.65 2,500 134,800 0.64 2,800 189,900 0.88 5,400 73%
Total Yanacocha, Peru
40% 7,300 1.47 300 37,300 1.49 1,800 44,600 1.49 2,100 3,200 1.58 200 82%
Pueblo Viejo, Dominican Republic (5)
50% 4,800 0.47 100 118,300 0.59 2,300 123,100 0.59 2,300 239,800 0.40 3,100 68%
NuevaUnion, Chile (6)
50% 77,200 0.61 1,500 596,900 0.49 9,300 674,200 0.50 10,800 369,600 0.37 4,400 76%
Norte Abierto, Chile (7)
100% 98,200 0.55 1,700 169,700 0.54 2,900 267,900 0.54 4,700 2,400 0.51 -- 83%
Boddington, Australia
100% 9,400 1.67 500 23,800 1.47 1,100 33,200 1.53 1,600 4,200 1.13 200 90%
Tanami Open Pit
100% 2,500 3.82 300 5,600 4.43 800 8,000 4.24 1,100 15,900 4.48 2,300 96%
Tanami Underground
-------------- -------------- -------------- -------------- ------------ ---------- -------------- --------------
11,900 2.12 800 29,400 2.03 1,900 41,200 2.06 2,700 20,100 3.78 2,400 94%
Total Tanami, Australia
100% -- -- -- 1,596,600 0.32 16,200 1,596,600 0.32 16,200 497,000 0.24 3,800 80%
Cadia Underground
100% 30,900 0.30 300 -- -- -- 30,900 0.30 300 11,000 0.71 200 65%
Cadia Stockpiles and Open Pit
-------------- -------------- -------------- -------------- ------------ ---------- -------------- --------------
30,900 0.30 300 1,596,600 0.32 16,200 1,627,500 0.32 16,500 508,000 0.25 4,100 80%
Total Cadia, Australia (9)(11)
100% -- -- -- 25,900 0.56 500 25,900 0.56 500 -- -- -- 78%
Telfer Open Pit
100% -- -- -- 1,700 2.31 100 1,700 2.31 100 -- -- -- 90%
Telfer Underground
-------------- -------------- -------------- -------------- ------------ ---------- -------------- --------------
-- -- -- 27,600 0.67 600 27,600 0.67 600 -- -- -- 81%
Total Telfer, Australia (11)
70% -- -- -- 33,200 2.65 2,800 33,200 2.65 2,800 11,400 1.71 600 87%
Havieron, Australia (11)
73% -- -- -- 105,500 0.22 700 105,500 0.22 700 1,346,900 0.10 4,300 72%
Namosi, Fiji (11)
100% -- -- -- 25,000 2.03 1,600 25,000 2.03 1,600 227,400 2.40 17,500 80%
Lihir Open Pit
100% -- -- -- 22,200 1.47 1,000 22,200 1.47 1,000 -- -- -- 78%
Lihir Stockpiles
-------------- -------------- -------------- -------------- ------------ ---------- -------------- --------------
-- -- -- 47,100 1.77 2,700 47,100 1.77 2,700 227,400 2.40 17,500 79%
Lihir, Papua New Guinea (9)(11)
50% -- -- -- 53,600 1.66 2,900 53,600 1.66 2,900 15,500 1.30 600 65%
Wafi-Golpu Open Pit
50% -- -- -- 140,800 0.45 2,000 140,800 0.45 2,000 91,900 0.65 1,900 68%
Wafi-Golpu Underground
-------------- -------------- -------------- -------------- ------------ ---------- -------------- --------------
-- -- -- 194,500 0.78 4,900 194,500 0.78 4,900 107,300 0.74 2,600 67%
Total Wafi-Golpu, Papua New Guinea (11)
100% 3,200 1.21 100 5,600 0.92 200 8,800 1.03 300 6,100 1.40 300 88%
Ahafo South Open Pit
100% -- -- -- 27,200 3.71 3,200 27,200 3.71 3,200 13,800 3.00 1,300 91%
Ahafo South Underground
-------------- -------------- -------------- -------------- ------------ ---------- -------------- --------------
3,200 1.21 100 32,800 3.24 3,400 36,000 3.05 3,500 19,900 2.51 1,600 91%
Total Ahafo South, Ghana
100% 5,000 1.46 200 12,700 1.88 800 17,700 1.76 1,000 6,600 1.57 300 91%
Ahafo North, Ghana
100% 900 0.72 -- 9,800 3.83 1,200 10,600 3.57 1,200 5,600 2.95 500 92%
Akyem, Ghana
38.5% 4,000 0.99 100 175,200 0.99 5,500 179,200 0.99 5,700 101,000 0.76 2,500 75%
NGM Open Pit and Stockpiles
38.5% 1,400 7.51 300 20,900 5.95 4,000 22,200 6.04 4,300 23,100 6.52 4,800 84%
NGM Underground
-------------- -------------- -------------- -------------- ------------ ---------- -------------- --------------
5,300 2.66 500 196,000 1.52 9,600 201,400 1.55 10,000 124,100 1.83 7,300 80%
Total NGM, United States (8)
-------------- -------------- -------------- -------------- ------------ ---------- -------------- --------------
| |
| Gold Resources (1)(2) - December 31, 2022
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Measured Resource Indicated Resource Measured and Indicated Resource Inferred Resource
------------------------------------------ ------------------------------ -------------------------------- ------------------------------ --------------------
Deposits/Districts Newmont Tonnage Grade Ounces(3) Tonnage Grade Ounces(3) Tonnage Grade Ounces(3) Tonnage Grade Ounces(3) Metallurgical
Share (000 tonnes) (g/tonne) (000) (000 tonnes) (g/tonne) (000) (000 tonnes) (g/tonne) (000) (000 tonnes) (g/tonne) (000) Recovery (3)
--------------------------------------------- -------------------- -------------- -------------- -------------- ------------ --------- --------- ------------ ---------- ---------- ------------ --------- --------- --------------------
100% 79,700 0.38 980 42,300 0.32 440 122,000 0.36 1,420 32,200 0.34 350 59%
CC&V, United States
100% 1,300 3.92 170 2,600 3.93 330 3,900 3.93 490 3,000 4.15 410 95%
Musselwhite, Canada
100% 300 6.69 70 1,000 8.64 270 1,300 8.15 340 1,800 8.08 480 92%
Porcupine Underground
100% 200 0.51 -- 73,000 1.53 3,600 73,200 1.53 3,600 66,000 1.36 2,890 91%
Porcupine Open Pit
-------------- -------------- ------------ --------- ------------ ---------- ------------ ---------
500 4.36 70 73,900 1.63 3,860 74,500 1.64 3,940 67,900 1.54 3,370 91%
Total Porcupine, Canada
100% 400 5.05 70 2,100 5.10 350 2,500 5.09 420 2,600 5.45 460 92%
Eleonore, Canada
100% -- -- -- 53,900 1.23 2,140 53,900 1.23 2,140 7,200 1.01 230 80%
Coffee, Canada
50% 212,800 0.29 2,010 385,600 0.22 2,710 598,400 0.25 4,720 118,900 0.19 720 75%
Galore Creek, Canada (4)
100% 47,400 0.25 390 263,500 0.26 2,190 311,000 0.26 2,570 84,700 0.41 1,110 69%
Penasquito, Mexico
50% -- -- -- 19,900 0.37 240 19,900 0.37 240 1,600 0.21 10 50%
Noche Buena, Mexico
75% 5,600 0.99 180 35,300 1.26 1,430 40,900 1.22 1,610 37,000 0.86 1,020 89%
Merian, Suriname
100% 200 6.11 30 1,500 7.33 360 1,700 7.22 390 5,700 6.19 1,140 95%
Cerro Negro Underground
100% 1,200 3.28 130 1,200 3.15 120 2,400 3.22 250 300 2.46 20 90%
Cerro Negro Open Pit
-------------- -------------- ------------ --------- ------------ ---------- ------------ ---------
100% 1,400 3.60 160 2,700 5.49 480 4,100 4.86 630 6,000 6.00 1,160 94%
Total Cerro Negro, Argentina
100% -- -- -- 693,800 0.65 14,590 693,800 0.65 14,590 230,500 0.39 2,880 75%
Conga, Peru (10)
100% 13,500 0.38 170 114,900 0.42 1,570 128,400 0.42 1,730 189,700 0.79 4,830 66%
Yanacocha Open Pit
100% 500 4.07 70 6,200 4.70 940 6,700 4.65 1,010 3,400 4.99 550 97%
Yanacocha Underground
-------------- -------------- ------------ --------- ------------ ---------- ------------ ---------
14,100 0.52 240 121,100 0.64 2,510 135,100 0.63 2,740 193,100 0.87 5,380 72%
Total Yanacocha, Peru (10)
40% 7,300 1.43 340 33,200 1.51 1,610 40,600 1.49 1,950 3,000 1.77 170 88%
Pueblo Viejo, Dominican Republic (5)(9)
50% 4,800 0.47 70 118,300 0.59 2,260 123,100 0.59 2,330 239,800 0.40 3,050 68%
NuevaUnion, Chile (6)
50% 77,200 0.61 1,510 596,900 0.49 9,320 674,200 0.50 10,820 369,600 0.37 4,360 76%
Norte Abierto, Chile (7)
100% 92,800 0.55 1,630 167,400 0.54 2,900 260,200 0.54 4,530 2,800 0.51 50 83%
Boddington, Australia
100% 9,400 1.67 500 23,800 1.47 1,120 33,200 1.53 1,630 4,200 1.13 150 90%
Tanami Open Pit
100% 1,700 3.26 180 5,400 4.29 750 7,100 4.04 920 8,800 5.19 1,460 97%
Tanami Underground
-------------- -------------- ------------ --------- ------------ ---------- ------------ ---------
100% 11,000 1.91 680 29,200 1.99 1,870 40,200 1.97 2,550 13,000 3.88 1,620 94%
Total Tanami, Australia
100% 200 0.56 -- 20,000 1.09 700 20,200 1.09 710 10,200 1.29 420 86%
Ahafo South Open Pit
100% -- -- -- 24,700 3.53 2,810 24,700 3.53 2,810 11,000 3.44 1,220 92%
Ahafo South Underground
-------------- -------------- ------------ --------- ------------ ---------- ------------ ---------
200 0.56 -- 44,700 2.44 3,510 44,900 2.43 3,510 21,200 2.41 1,640 91%
Total Ahafo South, Ghana
100% 2,900 1.28 120 12,700 1.94 790 15,700 1.81 910 10,000 1.50 490 92%
Ahafo North, Ghana
100% 1,000 0.70 20 9,000 3.68 1,060 10,000 3.38 1,090 7,100 2.74 620 92%
Akyem, Ghana
38.5% 23,200 1.89 1,410 175,200 0.99 5,600 198,400 1.10 7,000 129,900 0.69 2,880 73%
NGM Open Pit and Stockpiles
38.5% 9,800 6.48 2,040 16,600 5.84 3,110 26,400 6.08 5,150 19,500 6.63 4,150 86%
NGM Underground
-------------- -------------- ------------ --------- ------------ ---------- ------------ ---------
33,000 3.25 3,450 191,700 1.41 8,700 224,800 1.68 12,160 149,300 1.47 7,040 79%
Total NGM, United States (8)
-------------- -------------- ------------ --------- ------------ ---------- ------------ ---------
| |
| (1) Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding. Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding.
(2) Resources, at sites in which Newmont is the operator, are estimated at a gold price of $1,600 per ounce for 2023 and 2022, unless otherwise noted. Resources provided by other operators may use pricing that differs. Tonnage amounts have been rounded to the nearest 100,000. Resources, at sites in which Newmont is the operator, are estimated at a gold price of $1,600 per ounce for 2023 and 2022, 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 in 2023 and nearest 10,000 in 2022. 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 in 2023 and nearest 10,000 in 2022.
(4) Project is currently undeveloped. Resource estimates provided by Teck Resources, the Galore Creek joint venture partner. Project is currently undeveloped. Resource estimates provided by Teck Resources, the Galore Creek joint venture partner.
(5) Resource estimates provided by Barrick, the operator of Pueblo Viejo. Resource estimates provided by Barrick, the operator of Pueblo Viejo.
(6) Project is currently undeveloped. Resource estimates provided by the NuevaUnion joint venture. Project is currently undeveloped. Resource estimates provided by the NuevaUnion joint venture.
(7) Project is currently undeveloped. Resource estimates provided by the Norte Abierto joint venture. Project is currently undeveloped. Resource estimates provided by the Norte Abierto joint venture.
(8) Resource estimates provided by Barrick, the operator of the NGM joint venture. Resource estimates provided by Barrick, the operator of the NGM joint venture.
(9) Amounts presented herein have been rounded to the nearest 100,000 in 2023 and nearest 10,000 in 2022 for ounces and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties. Amounts presented herein have been rounded to the nearest 100,000 in 2023 and nearest 10,000 in 2022 for ounces and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties.
(10) In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura's 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest. In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura's 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest.
| |
| Copper Reserves (1)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
December 31, 2023 December 31, 2022
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ -------------------------------------------
Proven Reserves Probable Reserves Proven and Probable Reserves Proven and Probable Reserves
------------------------------------------- ---------------------------- ------------------------------- -------------------- -------------------------------------------
Deposits/Districts Newmont Tonnage (2) Grade Pounds (3) Tonnage (2) Grade Pounds (3) Tonnage (2) Grade Pounds (3) Metallurgical Tonnage (2) Grade Pounds (3)
Share (000 tonnes) (Cu %) (millions) (000 tonnes) (Cu %) (millions) (000 tonnes) (Cu %) (millions) Recovery (3) (000 tonnes) (Cu %) (millions)
------------------------------------------- -------------------- -------------- --------------- -------------- ------------ ------ ---------- ------------ --------- ---------- -------------------- -------------- --------------- --------------
70% -- --%-- 30,200 0.43% 300 30,200 0.43% 300 80% -- --%--
Red Chris Open Pit
70% -- --%-- 171,700 0.52% 2,000 171,700 0.52% 2,000 84% -- --%--
Red Chris Underground
-------------- -------------- ------------ ---------- ------------ ----------
-- --%-- 201,900 0.51% 2,300 201,900 0.51% 2,300 84% -- --%--
Total Red Chris, Canada (4)(14)
100% -- --%-- 111,100 0.63% 1,500 111,100 0.63% 1,500 83% 111,100 0.63% 1,530
Yanacocha, Peru (5)(13)
50% -- --%-- 1,118,000 0.40% 9,800 1,118,000 0.40% 9,800 88% 1,118,000 0.40% 9,800
NuevaUnion, Chile (6)(11)
50% -- --%-- 598,800 0.22% 2,900 598,800 0.22% 2,900 87% 598,800 0.22% 2,890
Norte Abierto, Chile (7)(11)
100% 215,300 0.09% 400 192,600 0.11% 400 407,900 0.10% 900 82% 446,700 0.10% 1,010
Boddington Open Pit
100% 2,000 0.15% -- 70,000 0.09% 100 72,000 0.09% 100 73% 78,300 0.09% 150
Boddington Stockpiles (8)
-------------- -------------- ------------ ---------- ------------ ---------- -------------- --------------
217,300 0.09% 400 262,600 0.10% 600 479,900 0.10% 1,000 80% 524,900 0.10% 1,160
Total Boddington, Australia (4)
100% -- --%-- 1,102,300 0.29% 7,100 1,102,300 0.29% 7,100 86% -- --%--
Cadia, Australia (9)(12)(14)
50% -- --%-- 194,500 1.20% 5,100 194,500 1.20% 5,100 95% -- --%--
Wafi-Golpu, Papua New Guinea (4)(11)(14)
38.5% 3,700 0.16% -- 82,400 0.17% 300 86,100 0.17% 300 65% 88,700 0.16% 320
NGM, United States (10)
-------------- -------------- ------------ ---------- ------------ ---------- -------------- --------------
| |
| (1) Copper reserves, at sites in which Newmont is the operator, for 2023 and 2022 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. Copper reserves, at sites in which Newmont is the operator, for 2023 and 2022 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. Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.
(3) Pounds 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. Pounds may not recalculate as they are rounded to the nearest 100 million for 2023 and nearest 10 million for 2022. Pounds 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. Pounds may not recalculate as they are rounded to the nearest 100 million for 2023 and nearest 10 million for 2022.
(4) Copper cut-off grade varies with level of gold credits. Copper cut-off grade varies with level of gold credits.
(5) Reserve estimates relate to the undeveloped Yanacocha Sulfides project. Copper cut-off grade varies with level of gold and silver credits. Reserve estimates relate to the undeveloped Yanacocha Sulfides project. Copper cut-off grade varies with level of gold and silver credits.
(6) Project is currently undeveloped. Reserve estimates provided by the NuevaUnion joint venture. Project is currently undeveloped. Reserve estimates provided by the NuevaUnion joint venture.
(7) Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture. Project is currently undeveloped. Reserve estimates 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. 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) Copper cut-off grade varies with level of gold, silver, and molybdenum credits. Copper cut-off grade varies with level of gold, silver, and molybdenum credits.
(10) Reserve estimates provided by Barrick, the operator of the NGM joint venture. Reserve estimates provided by Barrick, the operator of the NGM joint venture.
(11) Currently included in Corporate and Other which includes the Company's business activities relating to its corporate and regional offices and all equity method investments. Currently included in Corporate and Other which includes the Company's business activities relating to its corporate and regional offices and all equity method investments.
(12) Amounts presented herein have been rounded to the nearest 100 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties. Amounts presented herein have been rounded to the nearest 100 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties.
(13) In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura's 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest. In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura's 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest.
| |
| Copper Resources (1)(2) - December 31, 2023
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Measured Resource Indicated Resource Measured and Indicated Resource Inferred Resource
------------------------------------------- ------------------------------------------- ------------------------------------------- ------------------------------------------- --------------------
Deposits/Districts Newmont Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Metallurgical
Share (000 tonnes) (Cu%) (millions) (000 tonnes) (Cu%) (millions) (000 tonnes) (Cu%) (millions) (000 tonnes) (Cu%) (millions) Recovery (3)
------------------------------------- -------------------- -------------- --------------- -------------- -------------- --------------- -------------- -------------- --------------- -------------- -------------- --------------- -------------- --------------------
70% -- --%-- 334,700 0.34% 2,500 334,700 0.34% 2,500 62,100 0.36% 500 81%
Red Chris, Canada (10)
50% 212,800 0.44% 2,100 385,600 0.47% 4,000 598,400 0.46% 6,100 118,900 0.26% 700 93%
Galore Creek, Canada (4)
100% -- --%-- 693,800 0.26% 4,000 693,800 0.26% 4,000 230,500 0.19% 900 84%
Conga, Peru
100% 1,500 1.02% -- 99,800 0.36% 800 101,300 0.37% 800 39,700 0.37% 300 81%
Yanacocha, Peru
50% 164,300 0.19% 700 349,900 0.34% 2,700 514,100 0.30% 3,400 602,200 0.39% 5,200 89%
NuevaUnion, Chile (5)
50% 57,600 0.24% 300 551,300 0.19% 2,300 608,900 0.20% 2,600 361,800 0.18% 1,400 90%
Norte Abierto, Chile (6)
100% 98,200 0.11% 200 169,700 0.11% 400 267,900 0.11% 700 2,400 0.07% -- 82%
Boddington, Australia
100% -- --%-- 1,596,600 0.23% 8,200 1,596,600 0.23% 8,200 497,000 0.17% 1,900 85%
Cadia Underground
100% 30,900 0.13% 100 -- --%-- 30,900 0.13% 100 11,000 0.52% 100 80%
Cadia Open Pit
-------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------
30,900 0.13% 100 1,596,600 0.23% 8,200 1,627,500 0.23% 8,300 508,000 0.18% 2,000 85%
Total Cadia, Australia (8)(10)
100% -- --%-- 20,300 0.06% -- 20,300 0.06% -- -- --%-- 49%
Telfer Open Pit
100% -- --%-- 5,600 0.07% -- 5,600 0.07% -- -- --%-- 46%
Telfer Stockpiles
100% -- --%-- 1,700 0.56% -- 1,700 0.56% -- -- --%-- 94%
Telfer Underground
-------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------
-- --%-- 27,600 0.09% 100 27,600 0.09% 100 -- --%-- 65%
Total Telfer, Australia (10)
70% -- --%-- 33,200 0.34% 300 33,200 0.34% 300 11,400 0.16% -- 86%
Havieron, Australia (10)
100% -- --%-- 51,700 0.29% 300 51,700 0.29% 300 1,900 0.28% -- 78%
Telfer Projects, Australia (10)
73% -- --%-- 105,500 0.61% 1,400 105,500 0.61% 1,400 1,346,900 0.32% 9,500 84%
Namosi Open Pit
73% -- --%-- -- --%-- -- --%-- 209,900 0.43% 2,000 92%
Namosi Underground
-------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------
-- --%-- 105,500 0.61% 1,400 105,500 0.61% 1,400 1,556,800 0.33% 11,500 85%
Total Namosi, Fiji (10)
50% -- --%-- 140,800 0.73% 2,300 140,800 0.73% 2,300 91,900 0.68% 1,400 95%
Wafi-Golpu, Papua New Guinea (10)
38.5% -- --%-- 136,000 0.15% 500 136,000 0.15% 500 19,300 0.16% 100 65%
NGM, United States (7)
-------------- -------------- -------------- -------------- -------------- -------------- -------------- --------------
| |
| Copper Resources at December 31, 2022 (1)(2)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Measured Resources Indicated Resources Measured and Indicated Resources Inferred Resources
------------------------------------------- ---------------------------- -------------------------------- ---------------------------- --------------------
Deposits/Districts Newmont Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Metallurgical
Share (000 tonnes) (Cu%) (millions) (000 tonnes) (Cu%) (millions) (000 tonnes) (Cu%) (millions) (000 tonnes) (Cu%) (millions) Recovery (3)
------------------------------------- -------------------- -------------- --------------- -------------- ------------ ------ ---------- ------------ ---------- ---------- ------------ ------ ----------
50% 212,800 0.44% 2,060 385,600 0.47% 4,020 598,400 0.46% 6,080 118,900 0.26% 690 93%
Galore Creek, Canada (4)
100% -- --%-- 693,800 0.26% 3,970 693,800 0.26% 3,970 230,500 0.19% 950 84%
Conga, Peru (9)
100% 500 0.18% -- 100,800 0.37% 830 101,300 0.37% 830 39,700 0.37% 320 81%
Yanacocha, Peru (9)
50% 164,300 0.19% 700 349,900 0.34% 2,650 514,100 0.30% 3,360 602,200 0.39% 5,170 89%
NuevaUnion, Chile (5)
50% 57,600 0.24% 310 551,300 0.19% 2,340 608,900 0.20% 2,640 361,800 0.18% 1,450 90%
Norte Abierto, Chile (6)
100% 92,800 0.11% 230 167,400 0.11% 420 260,200 0.11% 650 2,800 0.08% 10 82%
Boddington, Australia
38.5% 2,600 0.14% 10 116,900 0.14% 350 119,500 0.14% 360 19,900 0.13% 60 65%
NGM, United States (7)
-------------- -------------- ------------ ---------- ------------ ---------- ------------ ----------
| |
| (1) Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding. Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding.
(2) Resources, at sites in which Newmont is the operator, are estimated at a copper price of $4.00 per pound for 2023 and 2022, unless otherwise noted. Resources provided by other operators may use pricing that differs. Tonnage amounts have been rounded to the nearest 100,000. Resources, at sites in which Newmont is the operator, are estimated at a copper price of $4.00 per pound for 2023 and 2022, unless otherwise noted. Resources provided by other operators may use pricing that differs. Tonnage amounts have been rounded to the nearest 100,000.
(3) Pounds 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. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 and nearest 10 million in 2022. Pounds 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. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 and nearest 10 million in 2022.
(4) Project is currently undeveloped. Resource estimates provided by Teck Resources. Project is currently undeveloped. Resource estimates provided by Teck Resources.
(5) Project is currently undeveloped. Resource estimates provided by the NuevaUnion joint venture. Project is currently undeveloped. Resource estimates provided by the NuevaUnion joint venture.
(6) Project is currently undeveloped. Resource estimates provided by the Norte Abierto joint venture. Project is currently undeveloped. Resource estimates provided by the Norte Abierto joint venture.
(7) Resource estimates provided by Barrick, the operator of the NGM joint venture. Resource estimates provided by Barrick, the operator of the NGM joint venture.
(8) Amounts presented herein have been rounded to the nearest 100 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties. Amounts presented herein have been rounded to the nearest 100 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties.
(9) In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura's 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest. In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura's 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest.
| |
| Silver Reserves (1)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
December 31, 2023 December 31, 2022
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------
Proven Reserves Probable Reserves Proven and Probable Reserves Proven and Probable Reserves
------------------------------------------ ------------------------------- ------------------------------- -------------------- ------------------------------------------
Deposits/Districts Newmont Tonnage (2) Grade Ounces (3) Tonnage (2) Grade Ounces (3) Tonnage (2) Grade Ounces (3) Metallurgical Tonnage (2) Grade Ounces (3)
Share (000 tonnes) (g/tonne) (000) (000 tonnes) (g/tonne) (000) (000 tonnes) (g/tonne) (000) Recovery (3) (000 tonnes) (g/tonne) (000)
------------------------------------------------ -------------------- -------------- -------------- -------------- ------------ --------- ---------- ------------ --------- ---------- -------------------- -------------- -------------- --------------
100% -- -- -- 11,500 34.71 12,800 11,500 34.71 12,800 85% -- -- --
Brucejack, Canada (4)(17)
100% 121,700 37.98 148,600 142,800 30.31 139,200 264,500 33.84 287,800 80% 288,500 34.82 323,000
Penasquito Open Pits
100% 2,000 33.97 2,200 24,500 28.79 22,700 26,500 29.18 24,900 80% 28,000 25.57 23,050
Penasquito Stockpiles (5)
-------------- -------------- ------------ ---------- ------------ ---------- -------------- --------------
123,700 37.91 150,800 167,300 30.09 161,800 291,000 33.42 312,600 80% 316,500 34.00 346,050
Total Penasquito, Mexico (6)(15)
100% 1,900 85.48 5,200 7,300 69.23 16,300 9,200 72.58 21,500 75% 9,400 64.47 19,490
Cerro Negro, Argentina (4)
100% -- -- -- 93,400 19.89 59,800 93,400 19.89 59,800 54% 93,400 19.90 59,760
Yanacocha Open Pits and Underground (7)
100% -- -- -- 86,000 9.07 25,100 86,000 9.07 25,100 13% 96,400 8.71 27,010
Yanacocha Stockpiles and Leach Pads (5)(8)
-------------- -------------- ------------ ---------- ------------ ---------- -------------- --------------
-- -- -- 179,500 14.70 84,800 179,500 14.70 84,800 42% 189,800 14.22 86,770
Total Yanacocha, Peru (16)
40% 25,800 13.15 10,900 50,800 12.31 20,100 76,600 12.59 31,000 74% 78,500 12.87 32,460
Pueblo Viejo Open Pits
40% -- -- -- 39,700 14.48 18,500 39,700 14.48 18,500 70% 38,200 15.10 18,520
Pueblo Viejo Stockpiles (5)
-------------- -------------- ------------ ---------- ------------ ---------- -------------- --------------
25,800 13.15 10,900 90,500 13.26 38,600 116,300 13.24 49,500 73% 116,600 13.60 50,980
Total Pueblo Viejo, Dominican
Republic (9)(15)
50% -- -- -- 1,118,000 1.31 47,200 1,118,000 1.31 47,200 66% 1,118,000 1.31 47,170
NuevaUnion, Chile (10)(14)
50% -- -- -- 598,800 1.52 29,300 598,800 1.52 29,300 74% 598,800 1.52 29,340
Norte Abierto, Chile (11)(14)
100% -- -- -- 1,102,300 0.68 24,000 1,102,300 0.68 24,000 67% -- -- --
Cadia, Australia (12)(15)(17)
38.5% 2,400 7.97 600 60,800 6.93 13,600 63,200 6.97 14,200 38% 65,500 6.34 13,340
NGM, United States (13)
-------------- -------------- ------------ ---------- ------------ ---------- -------------- --------------
| |
| (1) Silver reserves, at sites in which Newmont is the operator, for 2023 and 2022 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. Silver reserves, at sites in which Newmont is the operator, for 2023 and 2022 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. 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 for 2023 and nearest 10,000 for 2022. 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 for 2023 and nearest 10,000 for 2022.
(4) Silver cut-off grade varies with gold credits. Silver cut-off grade varies with gold credits.
(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. 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) Silver cut-off grade varies with gold, lead, and zinc credits. Silver cut-off grade varies with gold, lead, and zinc credits.
(7) Silver cut-off grade varies with gold and copper credits. Silver cut-off grade varies with gold and copper credits.
(8) 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. 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.
(9) The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Reserve estimates provided by Barrick, the operator of Pueblo Viejo. The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Reserve estimates provided by Barrick, the operator of Pueblo Viejo.
(10) Project is currently undeveloped. Reserve estimates provided by the NuevaUnion joint venture. Project is currently undeveloped. Reserve estimates provided by the NuevaUnion joint venture.
(11) Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture. Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture.
(12) Silver cut-off grade varies with gold, copper, and molybdenum credits. Silver cut-off grade varies with gold, copper, and molybdenum credits.
(13) Reserve estimates provided by Barrick, the operator of the NGM joint venture. Reserve estimates provided by Barrick, the operator of the NGM joint venture.
(14) Currently included in Corporate and Other which includes the Company's business activities relating to its corporate and regional offices and all equity method investments. Currently included in Corporate and Other which includes the Company's business activities relating to its corporate and regional offices and all equity method investments.
(15) Amounts presented herein have been rounded to the nearest 100,000 in 2023 and nearest 10,000 in 2022 for ounces and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties. Amounts presented herein have been rounded to the nearest 100,000 in 2023 and nearest 10,000 in 2022 for ounces and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties.
(16) In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura's 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest. In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura's 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest.
| |
| Silver Resources (1)(2) - December 31, 2023
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Measured Resource Indicated Resource Measured and Indicated Resource Inferred Resource
------------------------------------------ ------------------------------------------ ------------------------------------------ ------------------------------- --------------------
Deposits/Districts Newmont Tonnage Grade Ounces (3) Tonnage Grade Ounces (3) Tonnage Grade Ounces (3) Tonnage Grade Ounces (3) Metallurgical
Share (000 tonnes) (g/tonne) (000) (000 tonnes) (g/tonne) (000) (000 tonnes) (g/tonne) (000) (000 tonnes) (g/tonne) (000) Recovery (3)
--------------------------------------- -------------------- -------------- -------------- -------------- -------------- -------------- -------------- -------------- -------------- -------------- ------------ --------- ---------- --------------------
100% -- -- -- 1,800 8.09 500 1,800 8.09 500 12,100 10.02 3,900 85%
Brucejack, Canada (11)
50% 212,800 4.08 27,900 385,600 4.77 59,100 598,400 4.52 87,000 118,900 2.60 9,900 73%
Galore Creek, Canada (4)
100% 37,400 24.48 29,400 157,300 25.12 127,100 194,700 25.00 156,500 22,800 25.41 18,700 79%
Penasquito, Mexico
50% -- -- -- 19,900 13.99 9,000 19,900 13.99 9,000 1,600 10.98 500 25%
Noche Buena, Mexico
100% 100 61.50 200 900 60.12 1,800 1,000 60.28 2,000 5,900 27.47 5,200 75%
Cerro Negro Underground
100% 1,200 6.77 300 1,200 6.63 300 2,400 6.70 500 300 6.68 100 71%
Cerro Negro Open Pit
-------------- -------------- -------------- -------------- -------------- -------------- ------------ ----------
1,300 11.71 500 2,100 30.02 2,000 3,400 22.95 2,500 6,200 26.45 5,300 75%
Total Cerro Negro, Argentina
100% -- -- -- 693,800 2.06 45,900 693,800 2.06 45,900 175,000 1.13 6,300 70%
Conga, Peru
100% 16,100 6.76 3,500 105,200 10.43 35,300 121,300 9.94 38,800 26,400 13.51 11,500 44%
Yanacocha Open Pit
100% 500 0.37 -- 6,200 37.02 7,300 6,700 34.23 7,400 3,400 40.45 4,400 83%
Yanacocha Underground
-------------- -------------- -------------- -------------- -------------- -------------- ------------ ----------
16,600 6.57 3,500 111,300 11.91 42,600 128,000 11.21 46,100 29,800 16.56 15,900 51%
Total Yanacocha, Peru
40% 7,300 7.96 1,900 37,300 8.04 9,600 44,600 8.02 11,500 3,200 8.14 800 74%
Pueblo Viejo, Dominican Republic (5)
50% 164,300 0.96 5,100 349,900 1.19 13,400 514,100 1.12 18,400 602,200 1.16 22,500 66%
NuevaUnion, Chile (6)
50% 77,200 1.20 3,000 596,900 1.07 20,600 674,200 1.09 23,500 369,600 0.95 11,300 78%
Norte Abierto, Chile (7)
100% -- -- -- 1,596,600 0.61 31,300 1,596,600 0.61 31,300 497,000 0.47 7,500 65%
Cadia, Australia (9)(11)
50% -- -- -- 53,600 4.42 7,600 53,600 4.42 7,600 15,500 4.46 2,200 45%
Wafi-Golpu, Papua New Guinea (11)
38.5% -- -- -- 93,000 5.59 16,700 93,000 5.59 16,700 16,700 5.38 2,900 38%
NGM Open Pit
38.5% -- -- -- -- -- -- -- -- -- 1,800 5.63 300 38%
NGM Stockpiles
-------------- -------------- -------------- -------------- -------------- -------------- ------------ ----------
-- -- -- 93,000 5.59 16,700 93,000 5.59 16,700 18,400 5.41 3,200 38%
NGM, United States (8)
-------------- -------------- -------------- -------------- -------------- -------------- ------------ ----------
| |
| Silver Resources (1)(2) - December 31, 2022
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Measured Resource Indicated Resource Measured and Indicated Resource Inferred Resource
------------------------------------------ ------------------------------- -------------------------------- ------------------------------- --------------------
Deposits/Districts Newmont Tonnage Grade Ounces (3) Tonnage Grade Ounces (3) Tonnage Grade Ounces (3) Tonnage Grade Ounces (3) Metallurgical
Share (000 tonnes) (g/tonne) (000) (000 tonnes) (g/tonne) (000) (000 tonnes) (g/tonne) (000) (000 tonnes) (g/tonne) (000) Recovery (3)
------------------------------------------ -------------------- -------------- -------------- -------------- ------------ --------- ---------- ------------ ---------- ---------- ------------ --------- ---------- --------------------
50% 212,800 4.08 27,950 385,600 4.77 59,100 598,400 4.52 87,040 118,900 2.60 9,940 73%
Galore Creek, Canada (4)
100% 47,400 23.94 36,510 263,500 23.99 203,240 311,000 23.98 239,740 84,700 27.24 74,220 86%
Penasquito, Mexico
50% -- -- -- 19,900 13.99 8,970 19,900 13.99 8,970 1,600 10.98 550 25%
Noche Buena, Mexico
100% 200 42.43 210 1,500 51.31 2,490 1,700 50.51 2,690 5,700 35.10 6,450 76%
Cerro Negro Underground
100% 1,200 6.77 260 1,200 6.63 250 2,400 6.70 520 300 6.68 70 60%
Cerro Negro Open Pit
-------------- -------------- ------------ ---------- ------------ ---------- ------------ ----------
1,400 10.72 470 2,700 31.64 2,740 4,100 24.64 3,210 6,000 33.66 6,520 75%
Total Cerro Negro, Argentina
100% -- -- -- 693,800 2.06 45,910 693,800 2.06 45,910 175,000 1.13 6,330 70%
Conga, Peru (10)
100% 12,500 3.30 1,330 108,100 11.11 38,610 120,600 10.30 39,930 29,600 12.52 11,920 41%
Yanacocha Open Pit
100% 500 0.37 10 6,200 37.02 7,350 6,700 34.23 7,350 3,400 40.45 4,390 83%
Yanacocha Underground
-------------- -------------- ------------ ---------- ------------ ---------- ------------ ----------
13,000 3.19 1,330 114,200 12.51 45,950 127,200 11.56 47,290 33,000 15.38 16,310 49%
Total Yanacocha, Peru (10)
40% 7,300 7.68 1,810 33,200 8.28 8,840 40,600 8.17 10,650 3,000 10.49 1,030 74%
Pueblo Viejo, Dominican Republic (5)(9)
50% 164,300 0.96 5,080 349,900 1.19 13,370 514,100 1.12 18,440 602,200 1.16 22,530 66%
NuevaUnion, Chile (6)
50% 77,200 1.20 2,990 596,900 1.07 20,550 674,200 1.09 23,540 369,600 0.95 11,340 78%
Norte Abierto, Chile (7)
38.5% 2,400 5.33 410 81,700 5.46 14,340 84,100 5.46 14,760 18,700 5.57 3,350 38%
NGM, United States (8)
-------------- -------------- ------------ ---------- ------------ ---------- ------------ ----------
| |
| (1) Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding. Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding.
(2) Resources, at sites in which Newmont is the operator, are estimated at a silver price of $23.00 per ounce for 2023 and 2022, unless otherwise noted. Resources provided by other operators may use pricing that differs. Tonnage amounts have been rounded to the nearest 100,000. Resources, at sites in which Newmont is the operator, are estimated at a silver price of $23.00 per ounce for 2023 and 2022, 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 in 2023 and nearest 10,000 in 2022. 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 in 2023 and nearest 10,000 in 2022.
(4) Project is currently undeveloped. Resource estimates provided by Teck Resources. Project is currently undeveloped. Resource estimates provided by Teck Resources.
(5) Resource estimates provided by Barrick, the operator of the Pueblo Viejo. Resource estimates provided by Barrick, the operator of the Pueblo Viejo.
(6) Project is currently undeveloped. Resource estimates provided by the NuevaUnion joint venture. Project is currently undeveloped. Resource estimates provided by the NuevaUnion joint venture.
(7) Project is currently undeveloped. Resource estimates provided by the Norte Abierto joint venture. Project is currently undeveloped. Resource estimates provided by the Norte Abierto joint venture.
(8) Resource estimates provided by Barrick, the operator of the NGM joint venture. Resource estimates provided by Barrick, the operator of the NGM joint venture.
(9) Amounts presented herein have been rounded to the nearest 100,000 in 2023 and nearest 10,000 in 2022 for ounces and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties. Amounts presented herein have been rounded to the nearest 100,000 in 2023 and nearest 10,000 in 2022 for ounces and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties.
(10) In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura's 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest. In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura's 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest.
| |
| Lead Reserves (1)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
December 31, 2023 December 31, 2022
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ -------------------------------
Proven Reserves Probable Reserves Proven and Probable Reserves Proven and Probable Reserves
-------------------------------- ---------------------------- ------------------------------- -------------------- -------------------------------
Deposits/Districts Newmont Tonnage (2) Grade Pounds (3) Tonnage (2) Grade Pounds (3) Tonnage (2) Grade Pounds (3) Metallurgical Tonnage (2) Grade Pounds (3)
Share (000 tonnes) (Pb %) (millions) (000 tonnes) (Pb %) (millions) (000 tonnes) (Pb %) (millions) Recovery (3) (000 tonnes) (Pb %) (millions)
------------------------------------------------------- -------------------- ------------ ------ -------------- ------------ ------ ---------- ------------ --------- ---------- -------------------- ------------ --------- ----------
100% 121,700 0.37% 1,000 142,800 0.28% 900 264,500 0.32% 1,900 73% 288,500 0.33% 2,090
Penasquito Open Pits, Mexico (4)(6)
100% 2,000 0.32% -- 24,500 0.38% 200 26,500 0.37% 200 73% 28,000 0.33% 200
Penasquito Stockpiles, Mexico (4)(5)(6)
------------ -------------- ------------ ---------- ------------ ---------- ------------ ----------
| |
| (1) Lead reserves for 2023 and 2022 were estimated at a lead price of $1.00 per pound. Amounts presented may not recalculate in total due to rounding. Lead reserves for 2023 and 2022 were estimated at a lead price of $1.00 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. Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.
(3) Pounds 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. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 and nearest 10 million in 2022. Pounds 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. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 and nearest 10 million in 2022.
(4) Lead cut-off grade varies with level of gold, silver, and zinc credits. Lead cut-off grade varies with level of gold, silver, and zinc credits.
(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. 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.
| |
| Lead Resources (1)(2) - December 31, 2023
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Measured Resource Indicated Resource Measured and Indicated Resource Inferred Resource
------------------------------------------- ---------------------------- -------------------------------- -------------------------------- --------------------
Deposits/Districts Newmont Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Metallurgical
Share (000 tonnes) (Pb %) (millions) (000 tonnes) (Pb %) (millions) (000 tonnes) (Pb %) (millions) (000 tonnes) (Pb %) (millions) Recovery (3)
-------------------------------------- -------------------- -------------- --------------- -------------- ------------ ------ ---------- ------------ ---------- ---------- ------------ ------ -------------- --------------------
100% 37,400 0.28% 200 157,300 0.24% 800 194,700 0.24% 1,000 22,800 0.23% 100 72%
Penasquito, Mexico (4)
100% -- --%-- 51,700 0.30% 300 51,700 0.30% 300 1,900 0.24% -- 89%
Telfer Projects, Australia (5)
-------------- -------------- ------------ ---------- ------------ ---------- ------------ --------------
| |
| Lead Resources (1)(2) - December 31, 2022
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Measured Resource Indicated Resource Measured and Indicated Resource Inferred Resource
---------------------------- ---------------------------- -------------------------------- ---------------------------- --------------------
Deposits/Districts Newmont Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Metallurgical
Share (000 tonnes) (Pb %) (millions) (000 tonnes) (Pb %) (millions) (000 tonnes) (Pb %) (millions) (000 tonnes) (Pb %) (millions) Recovery (3)
---------------------------------- -------------------- ------------ ------ ---------- ------------ ------ ---------- ------------ ---------- ---------- ------------ ------ ---------- --------------------
100% 47,400 0.26% 270 263,500 0.23% 1,360 311,000 0.24% 1,630 84,700 0.23% 440 72%
Penasquito, Mexico
------------ ---------- -------------------- ------------ ---------- -------------------- ------------ ---------- ------------ ----------
| |
| (1) Resources are reported exclusive of reserves. Resources are reported exclusive of reserves.
(2) Resources are estimated at a lead price of $1.20 per pound for 2023 and 2022. Tonnage amounts have been rounded to the nearest 100,000. Resources are estimated at a lead price of $1.20 per pound for 2023 and 2022. Tonnage amounts have been rounded to the nearest 100,000.
(3) Pounds 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. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 and nearest 10 million in 2022. Pounds 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. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 and nearest 10 million in 2022.
(4) Amounts presented herein have been rounded to the nearest 100 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties. Amounts presented herein have been rounded to the nearest 100 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties.
| |
| Zinc Reserves (1)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
December 31, 2023 December 31, 2022
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ -------------------------------
Proven Reserves Probable Reserves Proven and Probable Reserves Proven and Probable Reserves
-------------------------------- ---------------------------- ------------------------------- -------------------- -------------------------------
Deposits/Districts Newmont Tonnage (2) Grade Pounds (3) Tonnage (2) Grade Pounds (3) Tonnage (2) Grade Pounds (3) Metallurgical Tonnage (2) Grade Pounds (3)
Share (000 tonnes) (Zn %) (millions) (000 tonnes) (Zn %) (millions) (000 tonnes) (Zn %) (millions) Recovery (3) (000 tonnes) (Zn %) (millions)
------------------------------------------------------- -------------------- ------------ ------ -------------- ------------ ------ ---------- ------------ --------- ---------- -------------------- ------------ --------- ----------
100% 121,700 0.95% 2,500 142,800 0.66% 2,100 264,500 0.79% 4,600 82% 288,500 0.82% 5,240
Penasquito Open Pits, Mexico (4)(6)
100% 2,000 0.66% -- 24,500 0.52% 300 26,500 0.53% 300 82% 28,000 0.47% 290
Penasquito Stockpiles, Mexico (4)(5)(6)
------------ -------------- -------------------- ------------ ---------- ------------ ---------- ------------ ----------
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| (1) Zinc reserves for 2023 and 2022 were estimated at a zinc price of $1.20 per pound. Amounts presented may not recalculate in total due to rounding. Zinc reserves for 2023 and 2022 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. Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.
(3) Pounds 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. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 and nearest 10 million in 2022. Pounds 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. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 and nearest 10 million in 2022.
(4) Zinc cut-off grade varies with level of gold, silver, and lead credits. Zinc cut-off grade varies with level of gold, silver, and lead credits.
(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. 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.
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| Zinc Resources (1)(2) - December 31, 2023
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Measured Resource Indicated Resource Measured and Indicated Resource Inferred Resource
------------------------------------------- ---------------------------- -------------------------------- -------------------------------- --------------------
Deposits/Districts Newmont Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Metallurgical
Share (000 tonnes) (Zn %) (millions) (000 tonnes) (Zn %) (millions) (000 tonnes) (Zn %) (millions) (000 tonnes) (Zn %) (millions) Recovery (3)
-------------------------------------- -------------------- -------------- --------------- -------------- ------------ ------ ---------- ------------ ---------- ---------- ------------ ------ -------------- --------------------
100% 37,400 0.69% 600 157,300 0.59% 2,000 194,700 0.61% 2,600 22,800 0.57% 300 81%
Penasquito, Mexico (4)
100% -- --%-- 51,700 0.63% 700 51,700 0.63% 700 1,900 0.47% -- 78%
Telfer Projects, Australia (5)
-------------- -------------- ------------ ---------- ------------ ---------- ------------ --------------
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| Zinc Resources (1)(2) - December 31, 2022
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Measured Resource Indicated Resource Measured and Indicated Resource Inferred Resource
---------------------------- ---------------------------- -------------------------------- ---------------------------- --------------------
Deposits/Districts Newmont Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Metallurgical
Share (000 tonnes) (Zn %) (millions) (000 tonnes) (Zn %) (millions) (000 tonnes) (Zn %) (millions) (000 tonnes) (Zn %) (millions) Recovery (3)
---------------------------------- -------------------- ------------ ------ ---------- ------------ ------ ---------- ------------ ---------- ---------- ------------ ------ ---------- --------------------
100% 47,400 0.62% 650 263,500 0.53% 3,080 311,000 0.54% 3,740 84,700 0.53% 1,000 81%
Penasquito, Mexico
------------ ---------- ------------ ---------- ------------ ---------- ------------ ----------
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| (1) Resources are reported exclusive of reserves. Resources are reported exclusive of reserves.
(2) Resources are estimated at a zinc price of $1.45 per pound for 2023 and 2022. Tonnage amounts have been rounded to the nearest 100,000. Resources are estimated at a zinc price of $1.45 per pound for 2023 and 2022. Tonnage amounts have been rounded to the nearest 100,000.
(3) Pounds 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. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 and nearest 10 million in 2022. Pounds 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. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 and nearest 10 million in 2022.
(4) Amounts presented herein have been rounded to the nearest 10 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties. Amounts presented herein have been rounded to the nearest 10 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties.
| |
| Molybdenum Reserves (1)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
December 31, 2023 December 31, 2022
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ -------------------------------------------
Proven Reserves Probable Reserves Proven and Probable Reserves Proven and Probable Reserves
------------------------------------------- ---------------------------- ------------------------------- -------------------- -------------------------------------------
Deposits/Districts Newmont Tonnage (2) Grade Pounds (3) Tonnage (2) Grade Pounds (3) Tonnage (2) Grade Pounds (3) Metallurgical Tonnage (2) Grade Pounds (3)
Share (000 tonnes) (Mo %) (millions) (000 tonnes) (Mo %) (millions) (000 tonnes) (Mo %) (millions) Recovery (3) (000 tonnes) (Mo %) (millions)
---------------------------------------- -------------------- -------------- --------------- -------------- ------------ ------ ---------- ------------ --------- ---------- -------------------- -------------- --------------- --------------
50% -- --%-- 776,900 0.02% 300 776,900 0.02% 300 48% 776,900 0.02% 270
NuevaUnion, Chile (4)(5)
100% -- --%-- 1,085,100 0.01% 200 1,085,100 0.01% 200 72% -- --%--
Total Cadia, Australia (6)(7)(8)
-------------- -------------- ------------ ---------- ------------ ---------- -------------- --------------
| |
| (1) Molybdenum reserves, at sites in which Newmont is the operator, for 2023 were estimated at a molybdenum price of $8.00 per pound. Reserves for NuevaUnion are estimated based on a molybdenum price set by NuevaUnion joint venture. Amounts presented may not recalculate in total due to rounding. Molybdenum reserves, at sites in which Newmont is the operator, for 2023 were estimated at a molybdenum price of $8.00 per pound. Reserves for NuevaUnion are estimated based on a molybdenum price set by NuevaUnion joint venture. 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. Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.
(3) Pounds 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. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 and nearest 10 million in 2022. Pounds 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. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 and nearest 10 million in 2022.
(4) Project is currently undeveloped. Reserve estimates provided by the NuevaUnion joint venture. Project is currently undeveloped. Reserve estimates provided by the NuevaUnion joint venture.
(5) Currently included in Corporate and Other which includes the Company's business activities relating to its corporate and regional offices and all equity method investments. Currently included in Corporate and Other which includes the Company's business activities relating to its corporate and regional offices and all equity method investments.
(6) Molybdenum cut-off grade varies with level of gold, silver, and copper credits. Molybdenum cut-off grade varies with level of gold, silver, and copper credits.
(7) Amounts presented herein have been rounded to the nearest 100 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties. Amounts presented herein have been rounded to the nearest 100 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties.
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| Molybdenum Resources (1)(2) - December 31, 2023
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Measured Resource Indicated Resource Measured and Indicated Resource Inferred Resource
------------------------------------------- -------------------------------- -------------------------------- ----------------------------------------- --------------------
Deposits/Districts Newmont Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Metallurgical
Share (000 tonnes) (Mo %) (millions) (000 tonnes) (Mo %) (millions) (000 tonnes) (Mo %) (millions) (000 tonnes) (Mo %) (millions) Recovery (3)
------------------------------------- -------------------- -------------- --------------- -------------- ------------ ------ -------------- ------------ ---------- ---------- ------------ --------------- -------------- --------------------
50% 159,500 0.01% -- 231,500 0.01% -- 391,000 0.01% 100 362,300 0.01% 100 52%
NuevaUnion, Chile (4)
100% -- --%-- 1,515,400 0.01% 200 1,515,400 0.01% 200 497,000 --%-- 72%
Cadia, Australia (5)(6)
-------------- -------------- ------------ -------------- ------------ ---------- ------------ --------------
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| Molybdenum Resources (1)(2) - December 31, 2022
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Measured Resource Indicated Resource Measured and Indicated Resource Inferred Resource
---------------------------- ---------------------------- -------------------------------- ---------------------------- --------------------
Deposits/Districts Newmont Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Metallurgical
Share (000 tonnes) (Mo %) (millions) (000 tonnes) (Mo %) (millions) (000 tonnes) (Mo %) (millions) (000 tonnes) (Mo %) (millions) Recovery (3)
------------------------------------- -------------------- ------------ ------ ---------- ------------ ------ ---------- ------------ ---------- ---------- ------------ ------ ---------- --------------------
50% 159,500 0.01% 20 231,500 0.01% 40 391,000 0.01% 70 362,300 0.01% 100 52%
NuevaUnion, Chile (4)
------------ ---------- ------------ ---------- ------------ ---------- ------------ ----------
| |
| (1) Resources are reported exclusive of reserves. Resources are reported exclusive of reserves.
(2) Resources, at sites in which Newmont is the operator, are estimated at a molybdenum price of $10.00 per pound for 2023. Resources for NuevaUnion are estimated based on a molybdenum price set by NuevaUnion joint venture. Tonnage amounts have been rounded to the nearest 100,000. Resources, at sites in which Newmont is the operator, are estimated at a molybdenum price of $10.00 per pound for 2023. Resources for NuevaUnion are estimated based on a molybdenum price set by NuevaUnion joint venture. Tonnage amounts have been rounded to the nearest 100,000.
(3) Pounds 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. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 nearest 10 million in 2022. Pounds 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. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 nearest 10 million in 2022.
(4) Project is currently undeveloped. Resource estimates provided by NuevaUnion joint venture. Project is currently undeveloped. Resource estimates provided by NuevaUnion joint venture.
(5) Amounts presented herein have been rounded to the nearest 100 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties. Amounts presented herein have been rounded to the nearest 100 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties.
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| Tungsten Resources (1)(2) - December 31, 2023
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Measured Resource Indicated Resource Measured and Indicated Resource Inferred Resource
------------------------------------------- ---------------------------- -------------------------------- ------------------------------- --------------------
Deposits/Districts Newmont Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Tonnage Grade Pounds (3) Metallurgical
Share (000 tonnes) (W %) (millions) (000 tonnes) (W %) (millions) (000 tonnes) (W %) (millions) (000 tonnes) (W %) (millions) Recovery (3)
--------------------------------- --------------------
100% -- --%-- 51,700 0.35% 400 51,700 0.35% 400 1,900 0.4% -- 74%
Telfer Projects, Australia (4)
-------------- -------------- ------------ ---------- ------------ ---------- ------------ --------------
| |
| (1) Resources are reported exclusive of reserves. Resources are reported exclusive of reserves.
(2) Resources are estimated at a tungsten price of $16.00 per pound for 2023. Tonnage amounts have been rounded to the nearest 100,000. Resources are estimated at a tungsten price of $16.00 per pound for 2023. Tonnage amounts have been rounded to the nearest 100,000.
(3) Pounds 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. Pounds may not recalculate as they are rounded to the nearest 100 million. Pounds 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. Pounds may not recalculate as they are rounded to the nearest 100 million.
| |
Cautionary Statement Regarding Reserve and Resource Estimates:
The reserves stated herein were prepared in compliance with Subpart 1300 of Regulation S-K adopted by the United States Securities and Exchanges Commission ("the SEC") and represent the amount of gold, copper, silver, lead, zinc, molybdenum and tungsten estimated, at December 31, 2023, could be economically and legally extracted or produced at the time of the reserve determination. The term "economically," as used in this definition, means that profitable extraction or production has been established or analytically demonstrated in at a minimum, a pre-feasibility study to be viable and justifiable under reasonable investment and market assumptions. The term "legally," as used in this definition, does not imply that all permits needed for mining and processing have been obtained or that other legal issues have been completely resolved. However, for a reserve to exist, Newmont (or our joint venture partners) must have a justifiable expectation, based on applicable laws and regulations, that issuance of permits or resolution of legal issues necessary for mining and processing at a particular deposit will be accomplished in the ordinary course and in a timeframe consistent with Newmont's (or our joint venture partners') current mine plans. Reserves in this presentation are aggregated from the proven and probable classes. The term "Proven reserves" used in the tables of the appendix means reserves for which (a) quantity is estimated from dimensions revealed in outcrops, trenches, workings or drill holes; (b) grade and/or quality are estimated from the results of detailed sampling; and (c) the sites for inspection, sampling and measurements are spaced so closely and the geologic character is sufficiently defined that size, shape, depth and mineral content of reserves are well established. The term "Probable reserves" means reserves for which quantity and grade are estimated 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. Newmont classifies all reserves as Probable on its development projects until a year of production has confirmed all assumptions made in the reserve estimates. Proven and Probable reserves include gold, copper, silver, zinc, lead, molybdenum or tungsten attributable to Newmont's ownership or economic interest. Proven and Probable reserves were calculated using cut-off grades. The term "cutoff grade" means the lowest grade of mineralized material considered economic to process. Cut-off grades vary between deposits depending upon prevailing economic conditions, mineability of the deposit, by-products, amenability of the ore to gold, copper, silver, zinc, lead, molybdenum or tungsten extraction and type of milling or leaching facilities available.
Estimates of Proven and Probable reserves are subject to considerable uncertainty. Such estimates are, or will be, to a large extent, based on the prices of gold, silver, copper, zinc, lead, molybdenum and tungsten and interpretations of geologic data obtained from drill holes and other exploration techniques, which data may not necessarily be indicative of future results. If our reserve estimations are required to be revised using significantly lower gold, silver, zinc, copper, lead, molybdenum and tungsten prices as a result of a decrease in commodity prices, increases in operating costs, reductions in metallurgical recovery or other modifying factors, this could result in material write-downs of our investment in mining properties, goodwill and increased amortization, reclamation and closure charges. Producers use pre-feasibility and feasibility studies for undeveloped ore bodies to derive estimates of capital and operating costs based upon anticipated tonnage and grades of ore to be mined and processed, the predicted configuration of the ore body, expected recovery rates of metals from the ore, the costs of comparable facilities, the costs of operating and processing equipment and other factors. Actual operating and capital cost and economic returns on projects may differ significantly from original estimates. Further, it may take many years from the initial phases of exploration until commencement of production, during which time, the economic feasibility of production may change. Estimates of resources are subject to further exploration and development, are subject to additional risks, and no assurance can be given that they will eventually convert to future reserves. Inferred resources, in particular, have a great amount of uncertainty as to their existence and their economic and legal feasibility. Investors are cautioned not to assume that any part of all of the Inferred resource exists or is economically or legally mineable. The Company cannot be certain that any part or parts of the resource will ever be converted into reserves. In addition, if the price of gold, silver, copper, zinc, lead, molybdenum or tungsten declines from recent levels, if production costs increase, grades decline, recovery rates decrease or if applicable laws and regulations are adversely changed, the indicated level of recovery may not be realized or mineral reserves or resources might not be mined or processed profitably. If we determine that certain of our mineral reserves or resources have become uneconomic, this may ultimately lead to a reduction in our aggregate reported mineral reserves and resources. Consequently, if our actual mineral reserves and resources are less than current estimates, our business, prospects, results of operations and financial position may be materially impaired. For additional information see the "Proven and Probable Reserve" and "Measured and Indicated and Inferred Resource" tables herein.
Cautionary Statement Regarding Forward Looking Statements:
This release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Such forward-looking statements may include, without limitation, estimates and expectations of future production, reserve estimates, exploration outlook and expected expenditure, and operational and financial performance. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties, assumptions and other factors, which could cause actual results to differ materially from future results expressed or implied by the "forward-looking statements". Such assumptions, include, but are not limited to the key assumptions set forth on page 4 hereof. Investors are also encouraged to refer to the Company's Form 10-K for its fiscal year 2022, filed with the SEC on February 23, 2023, as updated by the current report on Form 8-K filed with the SEC on July 20, 2023, Form 10-Q for the quarterly period ended September 30, 2023, filed with the SEC on October 26, 2023 as well as Newmont's other SEC filings, including the definitive proxy statement filed with the SEC on September 5, 2023, under the headings "Risk Factors" and "Forward-Looking Statements" for additional information. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," including, without limitation, outlook, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued "forward-looking statement" constitutes a reaffirmation of that statement. Continued reliance on "forward-looking statements" is at investors' own risk.
Investors are also encouraged to review our Form 10-K expected to be filed on, or about, February 27, 2024.
About Newmont
Newmont is the world's leading gold company and a producer of copper, zinc, lead, and silver. The company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the company has been publicly traded since 1925.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240222480917/en/
SOURCE: Newmont Corporation
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Media Contact
Jennifer Pakradooni
globalcommunications@newmont.com
Investor Contact - Global
Neil Backhouse
investor.relations@newmont.com
Investor Contact - Asia Pacific
Christopher Maitland
apac.investor.relations@newmont.com
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COMTEX_448175016/1006/2024-02-22T07:10:00 |
2.10% $0.90
