Newmont (NEM) Mining Forum Americas 2026 summary

Strategic positioning and portfolio transformation

• Maintains status as the world's largest gold producer, leveraging scale, portfolio integration, and operational discipline for value creation and resilience through commodity cycles.

• Operates 12 managed sites in top mining jurisdictions, with 118Moz in reserves and 149Moz in resources, supporting a stable, multi-decade production profile.

• Focus on safety, operational efficiency, cost control, and investing in high-return opportunities to extend mine lives and leverage existing infrastructure.

• Holds a unique market position as the only gold equity in the S&P 500.

• Share repurchases reduced share count by over 100 million (approx. 9%) since February 2024, increasing per-share value and supporting dividend growth.

Financial performance and capital allocation

• Achieved 2.6Moz gold, 47kt copper, and 16Moz silver production in H1 2026, supporting full-year guidance.

• Generated record free cash flow of $5.3B and returned $4.6B to shareholders via dividends and share repurchases.

• Capital allocation framework prioritizes reinvestment, a resilient balance sheet, and returning excess cash to shareholders, targeting $1.95B sustaining capital, $1.4B development capital, and $1.1B annual dividends for 2026.

• Quarterly dividend projected to rise to $0.27 per share, an 8% increase since February, supported by the enhanced framework.

• Maintains strong liquidity with a $5B cash minimum and $4.3B remaining share repurchase authorization as of July 2026.

Project development and operational updates

• Modernized Nevada Gold Mines joint venture enables unconstrained optimization of integrated assets, with an amended JV agreement and new asset contributions.

• $240 million allocated to exploration in 2026, with 80% focused on brownfields growth; key projects include Brucejack (Dozer Zone), Merian, and Ahafo South.

• Growth projects in execution include Boddington pre-strip completion, TE2 expansion, Cadia cave additions, Cerro Negro Expansion, and Lihir Nearshore Barrier.

• Received major regulatory approvals for the Red Chris block cave project in British Columbia.

• Appointed key executives from internal talent pipeline to drive next phase of delivery.