Newmont (NEM) Mining Forum Americas 2026 summary

Strategic positioning and portfolio highlights

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

• Operates 12 managed sites in top mining jurisdictions, with 118Moz in reserves and 149Moz in resources.

• Two major projects are in execution, supported by a robust pipeline for organic growth.

• Focuses on operational excellence, safety, productivity, and disciplined cost management to maximize margins.

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

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.

• Reduced shares outstanding by over 100M (~9%) since Feb 2024, enhancing per-share metrics.

• Capital allocation framework targets $1.95B sustaining capital, $1.4B development capital, and $1.1B annual dividends for 2026.

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

Project development and operational updates

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

• Announced amended JV agreement for Nevada Gold Mines, including new asset contributions.

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

• Advancing up to three major high-return projects at a time, with staggered starts for portfolio optimization.

• Ongoing focus on maximizing margins and free cash flow through disciplined execution.