HighGravityDataNewmont — Feb 20, 2025 release
Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001164727-25-000008
Showing in the filing
Dividend
“$0.25 per share of common stock”
Period
Q4 FY2024
Measure
Declared action
Source
Prose
All guidance in this release · 87
Total proceeds from non-core asset and other…
“up to $4.3 billion”
Cash expected to be delivered from non-core … for FY2025
“up to $2.5 billion”
Share repurchase program for FY2026
“$3.0 billion total share repurchase programs”
Attributable production for 2025 for FY2025
“approximately 5.9 million gold ounces”
Gold ounces from non-core assets held for sale for Q1 FY2025
“0.3 million gold ounces”
Gold ounces for the Total Tier 1 Portfolio for FY2025
“5.6 million gold ounces”
Gold AISC (Total Portfolio) for FY2025
“$1,630 per ounce”
Gold AISC for the Total Portfolio
“$1,630 per ounce”
Sustaining capital spend for the Total Tier … for FY2025
“approximately $1.8 billion”
Development capital spend for the Total Tier… for FY2025
“approximately $1.3 billion”
Dividend for Q4 FY2024
“$0.25 per share of common stock”
Consolidated adjusted effective tax rate rel… for FY2025
“34%”
Attributable Gold Production (Moz) - Non-Man… for FY2025
“1.4”
Attributable Gold Production (Moz) - Total T… for FY2025
“5.6”
Attributable Gold Production (Moz) - Non-Cor… for FY2025
“0.3”
Total Newmont Attributable Gold Production (… for FY2025
“5.9”
Gold CAS ($/oz) ** - Managed Tier 1 Portfolio for FY2025
“1,170”
Gold CAS ($/oz) ** - Non-Managed Tier 1 Port… for FY2025
“1,240”
Gold CAS ($/oz) ** - Total Tier 1 Portfolio for FY2025
“1,180”
Gold CAS ($/oz) ** - Non-Core Assets * for FY2025
“1,450”
Total Newmont Gold CAS ($/oz) ** for FY2025
“1,200”
Gold AISC ($/oz) ** - Managed Tier 1 Portfolio for FY2025
“1,630”
Gold AISC ($/oz) ** - Non-Managed Tier 1 Por… for FY2025
“1,555”
Gold AISC ($/oz) ** - Non-Core Assets * for FY2025
“1,830”
Total Newmont Gold AISC ($/oz) ** for FY2025
“1,630”
Gold CAS for Total Tier 1 Portfolio
“$1,180 per ounce”
Gold AISC from the Total Tier 1 Portfolio for FY2025
“$1,620 per ounce”
Gold AISC ($/oz) ** - Total Tier 1 Portfolio for FY2025
“1,620”
Cost escalation impact on unit costs for FY2025
“approximately 3 percent”
Sustaining Capital ($M) - Managed Tier 1 Por… for FY2025
“1,530”
Sustaining Capital ($M) - Non-Managed Tier 1… for FY2025
“270”
Sustaining Capital ($M) - Total Tier 1 Portf… for FY2025
“1,800”
Sustaining Capital ($M) - Non-Core Assets* for FY2025
“75”
Total Newmont Sustaining Capital ($M) for FY2025
“1,875”
Development Capital ($M) - Managed Tier 1 Po… for FY2025
“1,140”
Development Capital ($M) - Non-Managed Tier … for FY2025
“160”
Development Capital ($M) - Total Tier 1 Port… for FY2025
“1,300”
Development Capital ($M) - Non-Core Assets* for FY2025
“30”
Total Newmont Development Capital ($M) for FY2025
“1,330”
Attributable Production seasonality for FY2025
“48%”
Sustaining Capital seasonality for FY2025
“52%”
Development Capital seasonality for FY2025
“57%”
Attributable gold production for the Total T… for H1 FY2025
“approximately 48 percent”
Total Tier 1 Portfolio production in first q… for Q1 FY2025
“23 percent”
Copper Production (ktonne) for FY2025
“118”
Copper CAS ($/tonne) ** for FY2025
“$5,160”
Copper AISC ($/tonne) ** for FY2025
“$8,510”
Silver Production (Moz) for FY2025
“28”
Silver CAS ($/oz) ** for FY2025
“$11.50”
Silver AISC ($/oz) ** for FY2025
“$15.00”
Lead Production (ktonne) for FY2025
“90”
Lead CAS ($/tonne) ** for FY2025
“$1,080”
Lead AISC ($/tonne) ** for FY2025
“$1,290”
Zinc Production (ktonne) for FY2025
“236”
Zinc CAS ($/tonne) ** for FY2025
“$1,430”
Zinc AISC ($/tonne) ** for FY2025
“$1,890”
Investment in exploration and advanced proje… for FY2025
“approximately $525 million”
Exploration expense for FY2025
“$275 million”
Advanced project spending for FY2025
“approximately $250 million”
General & Administrative ($M) for FY2025
“$475”
Interest Expense ($M) for FY2025
“$300”
Depreciation & Amortization ($M) a for FY2025
“$2,600”
Reclamation and Remediation Accretion ($M) b for FY2025
“$475”
Attributable Gold Production (Moz) - Managed… for FY2025
“4.2”
General and administrative costs for FY2025
“$475 million”
Interest expense
“approximately $300 million”
Reclamation and remediation expense
“$475 million”
Proceeds from the sale of the Akyem operation for FY2025
“Up to $1.0 billion”
Proceeds from the sale of the Musselwhite op… for Q1 FY2025
“Up to $850 million”
Proceeds from the sale of the Éléonore opera… for Q1 FY2025
“$795 million”
Proceeds from the sale of the CC&V operation for Q1 FY2025
“Up to $275 million”
Proceeds from the sale of the Porcupine oper… for FY2025
“Up to $425 million”
Tanami Expansion 2 average annual gold produ… for FY2028–2032
“approximately 150,000 to 200,000 ounces per year”
Tanami Expansion 2 total capital costs
“between $1.7 and $1.8 billion”
Ahafo North production for FY2026
“between 275,000 and 325,000 ounces per year”
Ahafo North All-In Sustaining Costs for FY2026
“$800 to $900 per ounce”
Ahafo North total capital costs
“between $950 and $1,050 million”
PC2-3 production over cave life for FY2024
“1.0 million ounces of gold and more than 400 thousand tonnes of copper”
PC2-3 peak production for FY2027
“between 100 and 150 thousand ounces of gold per year, and between 40 and 60 thousand tonnes of copper per year”
PC2-3 total capital costs
“between $1.0 and $1.2 billion”
PC2-3 development capital spend by Newmont
“between $150 to $250 million”
Panel Cave 1-2 (PC1-2) gold production for FY2027
“4.0 million ounces of gold”
PC1-2 production over cave life for FY2027
“4.0 million ounces of gold and more than 700 thousand tonnes of copper”
Panel Cave 1-2 (PC1-2) copper production for FY2027
“more than 700 thousand tonnes of copper”
Panel Cave 1-2 (PC1-2) peak gold production … for FY2030
“between 275 and 325 thousand ounces of gold per year”
PC1-2 peak production for FY2030
“between 275 and 325 thousand ounces of gold per year, and between 35 and 55 thousand tonnes of copper per year”
Panel Cave 1-2 (PC1-2) peak copper productio… for FY2030
“between 35 and 55 thousand tonnes of copper per year”
Exhibit 99.1 · the passage around this item
… earlier in the release
Telfer and Havieron closed in December, 2024 ▪ Potential to generate up to $4.3 billion in total proceeds from non-core asset and other investment sales, including up to $2.5 billion in cash expected to be delivered in the first half of 2025, net of taxes and closing costs ▪ Repurchased $1.2 billion of outstanding shares as part of the $3.0 billion total share repurchase programs, authorized by the Board of Directors through October 2026 ▪ Declared fourth quarter dividend of $0.25 per share and delivered $1.1 billion in total dividends to shareholders in 2024 ▪ Completed integration of Newcrest assets, solidifying Newmont as the world's largest gold producer with robust complementary copper growth opportunities ▪ Produced 6.8 million attributable gold ounces, primarily driven by production of 5.7 million attributable gold ounces from Newmont's Tier 1 Portfolio 3 , as well as 1.9 million gold equivalent ounces (GEOs) 4 from copper, silver, lead and zinc, including 153 thousand tonnes of copper ▪ Maintained a flexible investment-grade balance sheet, including $3.6 billion in cash and $7.7 billion in total liquidity ▪ Reduced debt by $1.4 billion over the last 12 months, which includes early redemption of $928 million in 2026 Notes redeemed on February 7, 2025; reported net debt to adjusted EBITDA of 0.6x 2 ▪ Declared total Newmont reserves of 134 million attributable gold ounces and resources of 170 million attributable gold ounces 5 ; significant upside to other metals, including more than 13.5 million tonnes of copper reserves 2025 Guidance 3 ▪ Attributable production for 2025 is expected to be approximately 5.9 million gold ounces, including 0.3 million gold ounces in the first quarter from the non-core assets held for sale and 5.6 million gold ounces for the Total Tier 1 Portfolio 3 ▪ Gold AISC 2 for the Total Portfolio is expected to be $1,630 per ounce including production from non-core assets for the first quarter of 2025; with Gold AISC 2 from the Total Tier 1 Portfolio expected to be $1,620 per ounce for full year 2025 ▪ Sustaining capital spend of approximately $1.8 billion in 2025 for the Total Tier 1 Portfolio 3 ; Development capital spend of approximately $1.3 billion in 2025 for the Total Tier 1 Portfolio 3 to progress key near-term development projects 1 Newmont's Board of Directors declared a dividend of $0.25 per share of common stock for the fourth quarter of 2024, payable on March 27, 2025 to holders of record at the close of business on March 4, 2025. 2 Non-GAAP metrics; see reconciliations at the end of this release. 3 See discussion of guidance, including the definition of the Tier 1 Portfolio, and cautionary statement at the end of this release regarding forward-looking statements. 4 Gold equivalent ounces (GEOs) calculated using Gold ($1,400/oz.), Copper ($3.50/lb.), Silver ($20.00/oz.), Lead ($1.00/lb.) and Zinc ($1.20/lb.) pricing for 2024. 5 Total resources presented includes Measured and Indicated resources of 99.4 million gold ounces and Inferred resources of 70.6 million gold ounces. See cautionary statement at the end of this release. NEWMONT FOURTH QUARTER AND FULL YEAR 2024 RESULTS & 2025 GUIDANCE | NEWS RELEASE 1 Summary of Fourth Quarter and Full Year 2024 Results 2023 2024 Change Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY FY Average realized gold price ($/oz) $ 1,906 $ 1,965 $ 1,920 $ 2,004 $ 1,954 $ 2,090 $ 2,347 $ 2,518 $ 2,643 $ 2,408 23% Attributable gold production (Moz) 1 1.27 1.24 1.29 1.74 5.55 1.68 1.61 1.67 1.90 6.85 23% Gold CAS ($/oz) 2,3 $ 1,025 $ 1,054 $ 1,
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.