Newmont Corporation

Description

Newmont Corporation is the world’s largest listed gold producer, with 12 managed operations, two non-managed joint ventures and a 32% interest in Lundin Gold. The company’s portfolio is primarily focused on gold, with meaningful copper, silver, lead and zinc exposure across multiple operating jurisdictions.

The investment case combines 2026 attributable gold guidance of 5.26 Moz, by-product AISC guidance of US$1,680/oz, approximately US$3.4B net cash and a large portfolio of operating mines and brownfield growth projects. Year-end 2025 reserves were approximately 118.2 Moz gold, 12.5 Mt copper and 442 Moz silver, while Q2 2026 generated approximately US$2.2B of free cash flow.

List of projects:

Project 1: Boddington, Cadia and Tanami, Australia — Major gold and gold-copper operations.

Project 2: Lihir, Papua New Guinea — Long-life gold operation with the Nearshore Soil Barrier project supporting future mine-life extension.

Project 3: Brucejack and Red Chris, Canada — Gold and copper-gold assets, including Red Chris Block Cave development optionality.

Project 4: Ahafo South and Ahafo North, Ghana — Large-scale gold operations; Ahafo North reached commercial production in October 2025.

Project 5: Merian, Suriname; Cerro Negro, Argentina; Yanacocha, Peru; and Penasquito, Mexico — Major Latin American operations, with Penasquito adding silver, lead and zinc exposure.

Project 6: Nevada Gold Mines, Pueblo Viejo and Lundin Gold / Fruta del Norte — Non-managed joint venture and equity interests.

Project 7: Tanami Expansion 2, Cadia Panel Caves, Lihir Nearshore Soil Barrier and Red Chris Block Cave — Major projects in execution or evaluation.

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List of projects

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