Newmont Reports 2024 Mineral Reserves of 134.1 Million Gold Ounces and 13.5 Million Tonnes of Copper

 

  Newmont Corporation (NYSE: NEM, ASX: NEM, TSX: NGT, PNGX: NEM) (Newmont or the Company) reported gold Mineral Reserves ("reserves") of 134.1 million attributable ounces at the end of 2024 compared to the Company's 135.9 million attributable ounces at the end of 2023, inclusive of assets held for divestment. Newmont's go-forward Tier 1 1 portfolio includes 125.5 million attributable gold ounces and significant Mineral Reserves from other metals, including more than 13.5 million attributable tonnes of copper reserves and 530 million attributable ounces of silver reserves.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250220938621/en/  

 
 Percentage of Gold Reserves by Jurisdiction (Graphic: Business Wire)

Percentage of Gold Reserves by Jurisdiction (Graphic: Business Wire)

 

 

  "Newmont has solidified its position as the gold industry's leader with the highest concentration of Tier 1 assets, reserves and resources," said Tom Palmer, Newmont's President and Chief Executive Officer. "Supported by our industry-leading exploration program, we continue to focus on extending mine life, developing districts and discovering new opportunities in the most favorable mining jurisdictions. Newmont's extensive gold and copper reserve base represents the foundation for stable production and meaningful value creation for the next several decades."  

 

  2024 Reserves & Resources Highlights  

 
  • The gold industry's largest reserve base with 134.1 million attributable ounces, inclusive of the assets held for divestment (125.5 million attributable ounces for the go-forward Tier 1 portfolio); 2024 reserves include updates to gold price and cost escalation assumptions, additions, net revisions and depletion
  •  
  • Newmont's reserve base has approximately doubled since 2018 and is strategically diversified across the world's most favorable mining jurisdictions
  •  
  • Newmont benefits from a strong operating asset base with gold reserve life of ten years or more at Boddington, Lihir, Cadia, Tanami, Ahafo, Merian, Cerro Negro, Pueblo Viejo and Nevada Gold Mines (NGM), further enhanced by a broader portfolio and organic project pipeline
  •  
  • Measured & Indicated Gold Mineral Resources 2 of 99.4 million attributable ounces (90.5 million attributable ounces for the Tier 1 portfolio) and Inferred Resources of 70.6 million attributable ounces (64.9 million attributable ounces for the Tier 1 portfolio)
  •  
  • Significant exposure to copper with 13.5 million attributable tonnes in reserves, 14.1 million attributable tonnes in Measured & Indicated resources and 11.0 million attributable tonnes in Inferred resources for the Tier 1 portfolio
  •  
  • Additional exposure to other metals including silver, lead, zinc and molybdenum
  •  

  Percentage of Gold Reserves by Jurisdiction 3  

 

Newmont's reserve base is a key differentiator with an average reserve grade of 0.96 grams per tonne and an operating reserve life of more than ten years at seven 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 89.5 million gold equivalent ounces 4 of attributable reserves from copper, silver, lead, zinc and molybdenum.

 

  PROVEN & PROBABLE GOLD RESERVES  

 

For 2024, Newmont reported 134.1 million attributable ounces of gold reserves, slightly lower than the prior year total of 135.9 million attributable ounces. Depletion of 7.8 million ounces and unfavorable net revisions of 3.9 million ounces were largely offset by the reserve increases from price related revisions (14.2 million ounces), net of cost escalation assumptions (7.2 million ounces), as well as the addition of 2.9 million ounces from exploration.

 

Newmont's gold grade reserve remained substantially unchanged at 0.96 grams per tonne compared to 0.97 grams per tonne in the prior year.

 

  ASSET-LEVEL SUMMARY  

 

  Managed Tier 1 Assets  

 
  • Boddington reserves increased by 13 percent to 10.8 million ounces, primarily driven by favorable price related revisions of 1.6 million ounces (net of cost escalation assumptions), as well as net positive revisions of 0.2 million ounces, partially offset by 0.6 million ounces from depletion
  •  
  • Tanami reserves increased by 6 percent to 5.1 million ounces as a result of net favorable price and cost escalation related revisions of 0.2 million ounces and net positive revisions of 0.3 million ounces, partially offset by depletion of 0.4 million ounces
  •  
  • Cadia reserves decreased slightly by 4 percent to 14.1 million ounces, primarily driven by depletion of 0.6 million ounces
  •  
  • Ahafo South reserves decreased by 10 percent to 4.6 million ounces largely due to the depletion of 0.9 million ounces; price related revisions (net of cost escalation assumptions) resulted in an additional reduction of 0.2 million ounces, while 0.2 and 0.1 million ounces were added through exploration and favorable net revisions, respectively
  •  
  • Lihir reserves decreased by 10 percent to 15.8 million ounces as favorable price related revisions of 1.8 million ounces (net of cost escalation assumptions) were offset by unfavorable net revisions of 2.9 million ounces, largely due to pit design updates and geotechnical changes, as well as depletion of 0.7 million ounces
  •  
  • Peñasquito reserves decreased by 11 percent to 4.1 million ounces largely due to the depletion of 0.6 million ounces
  •  

  Emerging Tier 1 Assets  

 
  • Merian reserves increased by 5 percent to 4.1 million ounces, primarily due to favorable price related revisions of 0.3 million ounces (net of cost escalation assumptions), as well as 0.2 million ounces added through exploration
  •  
  • Cerro Negro reserves remained largely unchanged at 3.2 million ounces
  •  
  • Yanacocha reserves decreased slightly by 4 percent to 5.3 million ounces largely due to the depletion of 0.4 million ounces, partially offset by favorable net revisions of 0.2 million ounces
  •  
  • Red Chris reserves decreased by 5 percent to 3.7 million ounces due to net unfavorable revisions of 0.1 million ounces, as well as 0.1 million ounces from unfavorable price and cost escalation revisions and depletion
  •  
  • Brucejack reserves decreased by 39 percent to 1.9 million ounces, primarily due to unfavorable net revisions of 1.5 million ounces due to updated resource model assumptions, including tighter drill hole spacing requirements and other technical considerations, partially offset by net favorable price and cost escalation related revisions of 0.3 million ounces and exploration additions of 0.3 million ounces
  •  

  Non-Managed Tier 1 Assets  

 
  • Newmont's 38.5 percent interest in NGM represented 17.9 million attributable ounces of gold reserves at year end, compared to 18.3 million ounces at the end of 2023
  •  
  • Newmont's 40 percent interest in Pueblo Viejo represented 8.2 million attributable ounces of gold reserves at year end, compared to 8.0 million ounces at the end of 2023
  •  

  Assets Held for Sale  

 

Reserves at the assets held for sale increased by 14 percent to 8.7 million ounces, primarily driven by net favorable price and cost escalation related revisions of 2.0 million ounces, in addition to 0.9 million ounces added through exploration. These favorable increases were partially offset by the depletion of 1.3 million ounces and net unfavorable revisions of 0.4 million ounces.

 

  GOLD RESOURCES 5,6  

 

At the end of 2024, Newmont reported Measured and Indicated Gold Mineral Resources of 99.4 million attributable ounces, a 5 percent decrease from the prior year total of 104.8 million attributable ounces. Inferred Gold Mineral Resources totaled 70.6 million attributable ounces, a 2 percent increase from the prior year total of 69.1 million attributable ounces. Exclusive of the assets divested in 2024, total mineral resources remained substantially unchanged as resource conversions to reserves and unfavorable net revisions were offset by the resource increases from price related revisions, net of cost escalation assumptions, as well as additions through exploration.

 

Total Mineral Resources at Newmont's go-forward Tier 1 portfolio were largely unchanged from 2023. Net favorable resource increases from the price and cost escalation related revisions of 7.2 million ounces, as well as 3.2 million ounces added through exploration at Ahafo North (0.9 million ounces), Merian (0.8 million ounces), Brucejack (0.5 million ounces), Tanami (0.5 million ounces), Ahafo South (0.3 million ounces) and Cerro Negro (0.2 million ounces) were the primary drivers of the resource increases in 2024. This was offset by resource conversion of 5.9 million ounces and 4.6 million ounces from net unfavorable revisions.

 

Total Mineral Resources from assets held for sale increased by 0.5 million ounces, primarily driven by Musselwhite, Porcupine and Éléonore, partially offset by a decrease of 0.2 million ounces at CC&V and Akyem.

 

Newmont's Measured and Indicated Gold Mineral Resource grade increased to 0.59 grams per tonne compared to 0.57 grams per tonne in the prior year. Inferred Gold Mineral Resource decreased to 0.55 grams per tonne compared to 0.57 grams per tonne in the prior year.

 

  OTHER METALS  

 

In 2024, copper reserves and resources were materially unchanged. Copper reserves decreased slightly to 13.5 million tonnes from 13.7 million tonnes in the prior year, primarily due to depletion. Measured and Indicated copper resources decreased to 14.1 million tonnes from 15.0 million tonnes. Inferred copper resources increased slightly to 11.0 million tonnes from 10.9 million tonnes.

 

Silver reserves decreased to 530 million ounces compared to 596 million ounces in the prior year, primarily due to depletion. Silver resources increased during the year due to the impact of the net positive revisions and the downstream effect of increased gold price. Measured and Indicated silver resources increased to 469 million ounces from 457 million ounces in the prior year. Inferred silver resources increased to 113 million ounces from 108 million ounces in the prior year.

 

Lead reserves decreased slightly to 0.8 million tonnes from 0.9 million tonnes primarily due to depletion. Measured and Indicated lead resources decreased to 0.5 million tonnes from 0.6 million tonnes, and Inferred lead resources remained unchanged at 0.1 million tonnes. Zinc reserves decreased to 1.7 million tonnes from 2.2 million tonnes primarily due to depletion and negative revisions at Peñasquito. Measured and Indicated zinc resources decreased to 1.2 million tonnes from 1.5 million tonnes, and Inferred zinc resources remained unchanged at 0.1 million tonnes.

 

Molybdenum reserves were largely unchanged at 0.2 million tonnes. Measured and Indicated molybdenum resources remained unchanged at 0.1 million tonnes, with Inferred molybdenum resources of 0.1 million tonnes.

 

  EXPLORATION OUTLOOK  

 

Newmont's attributable exploration expenditure for managed operations is expected to be approximately $250 million in 2025 with 75 percent of total exploration investment dedicated to near-mine expansion programs and brownfields with the remaining 25 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 $25 million, for a total consolidated exploration expense outlook of $275 million for 2025.

 

Geographically, Newmont expects to invest approximately 37 percent in Latin America and the Caribbean, 20 percent in North America, 20 percent in Ghana, 16 percent in Australia and the remainder in Papua New Guinea and other locations.

 

  UPDATED GOLD PRICE FOR MINERAL RESERVES AND MINERAL RESOURCES  

 

As part of the annual Mineral Reserves and Mineral Resources update, Newmont assesses the metal price assumptions used for the calculation of end year reserves and resources. Since Newmont last updated its gold price assumptions at year end 2022, gold price has increased meaningfully to $2,629 per ounce as of December 31, 2024, representing a 44 percent increase from $1,820 per ounce as of December 31, 2022. In addition to the sustained increase in the spot gold price, long-term broker consensus estimates are currently substantially higher.

 

In line with market conditions, Newmont has increased its reserves gold price assumption by 21 percent to $1,700 from $1,400 per ounce. Newmont's updated reserves gold price is approximately 17 percent lower than the three-year trailing gold price average of $2,050 per ounce, well below Newmont's historical average of approximately 13 percent over the last ten years (2014 - 2023). Consistent with Newmont's historical approach, the resources gold price has been calibrated higher than reserves, as this helps the Company's technical teams to identify the optimum areas to further expand the life of our assets and to target where additional drilling and study work is required at our operating mines. For 2024, mineral resources are based on a $2,000 per ounce, maintaining the historical level above reserve pricing of 15 to 20 percent.

 

Newmont's robust internal processes and proven track record of responsibly and rigorously defining reserves and resources will continue to support the development of the go-forward operating Tier 1 portfolio and organic project pipeline.

 

  GOLD RESERVE SENSITIVITY  

 

A $100 increase in gold price would result in an approximate 6 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 7  

 
                                                     
 

 

 
 

  At December 31,  

 
 

 

 
 

  2024  

 
 

  2023  

 
 

Gold Reserves ($/oz)

 
 

$1,700

 
 

$1,400

 
 

Gold Resources ($/oz)

 
 

$2,000

 
 

$1,600

 
 

Copper Reserves ($/lb)

 
 

$3.50

 
 

$3.50

 
 

Copper Resources ($/lb)

 
 

$4.00

 
 

$4.00

 
 

Silver Reserves ($/oz)

 
 

$20.00

 
 

$20.00

 
 

Silver Resources ($/oz)

 
 

$23.00

 
 

$23.00

 
 

Lead Reserves ($/lb)

 
 

$0.90

 
 

$1.00

 
 

Lead Resources ($/lb)

 
 

$1.00

 
 

$1.20

 
 

Zinc Reserves ($/lb)

 
 

$1.20

 
 

$1.20

 
 

Zinc Resources ($/lb)

 
 

$1.30

 
 

$1.45

 
 

Molybdenum Reserves ($/lb)

 
 

$13.00

 
 

$8.00

 
 

Molybdenum Resources ($/lb)

 
 

$16.00

 
 

$10.00

 
 

Tungsten Resources ($/lb)

 
 

N/A

 
 

$16.00

 
 

Australian Dollar (A$:US$)

 
 

$0.70

 
 

$0.70

 
 

Canadian Dollar (C$:US$)

 
 

$0.75

 
 

$0.75

 
 

West Texas Intermediate ($/bbl)

 
 

$75.00

 
 

$75.00

 
 

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.

 

_______________________________

 
                     
  1   

  See definition of the go-forward Tier 1 portfolio and cautionary statement at the end of this release.  

 
  2   

  Exclusive of Mineral Reserves  

 
  3   

  North America includes 38.5 percent interest in Nevada Gold Mines; South America includes Newmont's 40 percent interest in Pueblo Viejo.  

 
  4   

  Gold Equivalent Ounces (GEOs) are calculated using 2024 Mineral Reserve pricing for Gold ($1,700/oz.), Copper ($3.50/lb.), Silver ($20.00/oz.), Lead ($0.90/lb.), Zinc ($1.20/lb.) and Molybdenum ($13.00/lb.) and Resource pricing for Gold ($2,000/oz.), Copper ($4.00/lb.), Silver ($23.00/oz.), Lead ($1.00/lb.), Zinc ($1.30/lb.), Molybdenum ($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)].  

 
  5   

  Total resources presented includes Measured and Indicated resources of 99.4 million attributable gold ounces and Inferred resources of 70.6 million attributable gold ounces. See cautionary statement at the end of this release.  

 
  6   

  Net Conversion inclusive of ounces reclassified from reserves to resources.  

 
  7   

  For 2024 and 2023, Newmont reserves and resources were estimated using the price assumptions noted above, except for certain sites as detailed in the footnotes of the reserves and resources tables below.  

 
 

  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 tonnes 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 tonnes 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 and molybdenum 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, 2025, taking into account metal prices, changes, if any, to future production and capital costs, divestments and conversion to reserves, as well as any acquisitions and additions during 2025.

 

Please refer to the reserves and resources cautionary statement at the end of the release.

 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
 

  Gold Reserves (1)  

 
 

  December 31, 2024  

 
 

  December 31, 2023  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Proven Reserves

 
 

 

 
 

Probable Reserves

 
 

 

 
 

Proven and Probable Reserves

 
 

 

 
 

 

 
 

Proven and Probable Reserves

 
 

Deposits/Districts

 
 

 

 
 

Newmont Share

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Metallurgical Recovery (3)

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

Brucejack, Canada (24)

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

8,600

 
 

6.95

 
 

1,900

 
 

 

 
 

8,600

 
 

6.95

 
 

1,900

 
 

 

 
 

96%

 
 

11,500

 
 

8.44

 
 

3,100

 
 

Red Chris Open Pit

 
 

 

 
 

70%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

14,700

 
 

0.39

 
 

100

 
 

 

 
 

14,700

 
 

0.39

 
 

100

 
 

 

 
 

52%

 
 

30,200

 
 

0.37

 
 

300

 
 

Red Chris Underground (4)

 
 

 

 
 

70%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

171,700

 
 

0.64

 
 

3,500

 
 

 

 
 

171,700

 
 

0.64

 
 

3,500

 
 

 

 
 

70%

 
 

171,700

 
 

0.64

 
 

3,500

 
 

Total Red Chris, Canada (24)

 
 

 

 
 

70%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

186,400

 
 

0.62

 
 

3,700

 
 

 

 
 

186,400

 
 

0.62

 
 

3,700

 
 

 

 
 

69%

 
 

201,900

 
 

0.60

 
 

3,900

 
 

Peñasquito Open Pits

 
 

 

 
 

100%

 
 

 

 
 

93,900

 
 

0.58

 
 

1,700

 
 

 

 
 

130,800

 
 

0.48

 
 

2,000

 
 

 

 
 

224,700

 
 

0.52

 
 

3,800

 
 

 

 
 

62%

 
 

264,500

 
 

0.53

 
 

4,500

 
 

Peñasquito Stockpiles (5)

 
 

 

 
 

100%

 
 

 

 
 

4,700

 
 

0.60

 
 

100

 
 

 

 
 

27,300

 
 

0.21

 
 

200

 
 

 

 
 

32,000

 
 

0.26

 
 

300

 
 

 

 
 

37%

 
 

26,500

 
 

0.20

 
 

200

 
 

Total Peñasquito, Mexico (6)(23)

 
 

 

 
 

100%

 
 

 

 
 

98,600

 
 

0.58

 
 

1,800

 
 

 

 
 

158,100

 
 

0.44

 
 

2,200

 
 

 

 
 

256,600

 
 

0.49

 
 

4,100

 
 

 

 
 

60%

 
 

291,000

 
 

0.50

 
 

4,600

 
 

Merian, Suriname

 
 

 

 
 

75%

 
 

 

 
 

23,400

 
 

1.26

 
 

900

 
 

 

 
 

87,300

 
 

1.14

 
 

3,200

 
 

 

 
 

110,700

 
 

1.16

 
 

4,100

 
 

 

 
 

93%

 
 

104,000

 
 

1.16

 
 

3,900

 
 

Cerro Negro, Argentina

 
 

 

 
 

100%

 
 

 

 
 

2,200

 
 

11.84

 
 

800

 
 

 

 
 

7,100

 
 

10.50

 
 

2,400

 
 

 

 
 

9,300

 
 

10.82

 
 

3,200

 
 

 

 
 

94%

 
 

9,200

 
 

10.97

 
 

3,200

 
 

Yanacocha Open Pit

 
 

 

 
 

100%

 
 

 

 
 

17,700

 
 

0.90

 
 

500

 
 

 

 
 

96,300

 
 

0.78

 
 

2,500

 
 

 

 
 

114,100

 
 

0.80

 
 

2,900

 
 

 

 
 

55%

 
 

128,600

 
 

0.76

 
 

3,200

 
 

Yanacocha Underground

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

12,300

 
 

6.06

 
 

2,400

 
 

 

 
 

12,300

 
 

6.06

 
 

2,400

 
 

 

 
 

97%

 
 

12,300

 
 

6.06

 
 

2,400

 
 

Total Yanacocha, Peru (7)

 
 

 

 
 

100%

 
 

 

 
 

17,800

 
 

0.90

 
 

500

 
 

 

 
 

108,600

 
 

1.38

 
 

4,800

 
 

 

 
 

126,400

 
 

1.31

 
 

5,300

 
 

 

 
 

74%

 
 

140,900

 
 

1.22

 
 

5,500

 
 

Pueblo Viejo Open Pit

 
 

 

 
 

40%

 
 

 

 
 

32,200

 
 

2.27

 
 

2,300

 
 

 

 
 

49,500

 
 

2.04

 
 

3,300

 
 

 

 
 

81,700

 
 

2.13

 
 

5,600

 
 

 

 
 

88%

 
 

76,600

 
 

2.15

 
 

5,300

 
 

Pueblo Viejo Stockpiles (5)

 
 

 

 
 

40%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

38,800

 
 

2.07

 
 

2,600

 
 

 

 
 

38,800

 
 

2.07

 
 

2,600

 
 

 

 
 

83%

 
 

39,700

 
 

2.12

 
 

2,700

 
 

Total Pueblo Viejo, Dominican Republic (8)(19)

 
 

 

 
 

40%

 
 

 

 
 

32,200

 
 

2.27

 
 

2,300

 
 

 

 
 

88,300

 
 

2.06

 
 

5,800

 
 

 

 
 

120,500

 
 

2.11

 
 

8,200

 
 

 

 
 

86%

 
 

116,300

 
 

2.14

 
 

8,000

 
 

NuevaUnión, Chile (9)(19)

 
 

 

 
 

50%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

341,100

 
 

0.47

 
 

5,100

 
 

 

 
 

341,100

 
 

0.47

 
 

5,100

 
 

 

 
 

66%

 
 

341,100

 
 

0.47

 
 

5,100

 
 

Norte Abierto, Chile (10)(19)

 
 

 

 
 

50%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

598,800

 
 

0.60

 
 

11,600

 
 

 

 
 

598,800

 
 

0.60

 
 

11,600

 
 

 

 
 

74%

 
 

598,800

 
 

0.60

 
 

11,600

 
 

Boddington Open Pit

 
 

 

 
 

100%

 
 

 

 
 

276,500

 
 

0.64

 
 

5,600

 
 

 

 
 

219,200

 
 

0.61

 
 

4,300

 
 

 

 
 

495,700

 
 

0.62

 
 

9,900

 
 

 

 
 

84%

 
 

407,900

 
 

0.66

 
 

8,600

 
 

Boddington Stockpiles (5)

 
 

 

 
 

100%

 
 

 

 
 

2,100

 
 

0.67

 
 

 
 

 

 
 

61,900

 
 

0.42

 
 

800

 
 

 

 
 

64,100

 
 

0.43

 
 

900

 
 

 

 
 

83%

 
 

72,000

 
 

0.44

 
 

1,000

 
 

Total Boddington, Australia (11)

 
 

 

 
 

100%

 
 

 

 
 

278,600

 
 

0.64

 
 

5,700

 
 

 

 
 

281,200

 
 

0.57

 
 

5,100

 
 

 

 
 

559,800

 
 

0.60

 
 

10,800

 
 

 

 
 

84%

 
 

479,900

 
 

0.62

 
 

9,600

 
 

Tanami, Australia

 
 

 

 
 

100%

 
 

 

 
 

10,100

 
 

5.25

 
 

1,700

 
 

 

 
 

19,800

 
 

5.28

 
 

3,400

 
 

 

 
 

29,900

 
 

5.27

 
 

5,100

 
 

 

 
 

98%

 
 

26,600

 
 

5.66

 
 

4,800

 
 

Cadia, Australia (12)(23)(24)

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

1,051,800

 
 

0.42

 
 

14,100

 
 

 

 
 

1,051,800

 
 

0.42

 
 

14,100

 
 

 

 
 

81%

 
 

1,102,300

 
 

0.42

 
 

14,700

 
 

Lihir Open Pits

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

125,900

 
 

2.86

 
 

11,600

 
 

 

 
 

125,900

 
 

2.86

 
 

11,600

 
 

 

 
 

77%

 
 

159,900

 
 

2.76

 
 

14,200

 
 

Lihir Stockpiles (5)

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

77,100

 
 

1.68

 
 

4,200

 
 

 

 
 

77,100

 
 

1.68

 
 

4,200

 
 

 

 
 

77%

 
 

57,200

 
 

1.83

 
 

3,400

 
 

Total Lihir, Papua New Guinea (13)(23)(24)

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

203,000

 
 

2.41

 
 

15,800

 
 

 

 
 

203,000

 
 

2.41

 
 

15,800

 
 

 

 
 

77%

 
 

217,100

 
 

2.51

 
 

17,500

 
 

Wafi-Golpu, Papua New Guinea (14)(19)(24)

 
 

 

 
 

50%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

194,500

 
 

0.82

 
 

5,100

 
 

 

 
 

194,500

 
 

0.82

 
 

5,100

 
 

 

 
 

68%

 
 

194,500

 
 

0.82

 
 

5,100

 
 

Ahafo South Open Pit

 
 

 

 
 

100%

 
 

 

 
 

2,400

 
 

2.64

 
 

200

 
 

 

 
 

39,700

 
 

1.57

 
 

2,000

 
 

 

 
 

42,000

 
 

1.63

 
 

2,200

 
 

 

 
 

89%

 
 

40,700

 
 

1.82

 
 

2,400

 
 

Ahafo South Underground

 
 

 

 
 

100%

 
 

 

 
 

6,100

 
 

2.97

 
 

600

 
 

 

 
 

15,200

 
 

2.36

 
 

1,200

 
 

 

 
 

21,300

 
 

2.54

 
 

1,700

 
 

 

 
 

94%

 
 

22,600

 
 

2.64

 
 

1,900

 
 

Ahafo South Stockpiles (5)

 
 

 

 
 

100%

 
 

 

 
 

21,700

 
 

0.97

 
 

700

 
 

 

 
 

 
 

 
 

 
 

 

 
 

21,700

 
 

0.97

 
 

700

 
 

 

 
 

91%

 
 

23,400

 
 

1.01

 
 

800

 
 

Total Ahafo South, Ghana

 
 

 

 
 

100%

 
 

 

 
 

30,200

 
 

1.51

 
 

1,500

 
 

 

 
 

54,800

 
 

1.79

 
 

3,200

 
 

 

 
 

85,000

 
 

1.69

 
 

4,600

 
 

 

 
 

91%

 
 

86,700

 
 

1.82

 
 

5,100

 
 

Ahafo North, Ghana

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

62,000

 
 

2.32

 
 

4,600

 
 

 

 
 

62,000

 
 

2.32

 
 

4,600

 
 

 

 
 

91%

 
 

53,100

 
 

2.41

 
 

4,100

 
 

NGM Open Pit (15)

 
 

 

 
 

38.5%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

124,200

 
 

1.16

 
 

4,600

 
 

 

 
 

124,200

 
 

1.16

 
 

4,600

 
 

 

 
 

77%

 
 

154,700

 
 

1.01

 
 

5,000

 
 

NGM Stockpiles (5)(16)

 
 

 

 
 

38.5%

 
 

 

 
 

16,400

 
 

1.86

 
 

1,000

 
 

 

 
 

12,900

 
 

2.35

 
 

1,000

 
 

 

 
 

29,200

 
 

2.08

 
 

2,000

 
 

 

 
 

69%

 
 

29,100

 
 

2.22

 
 

2,100

 
 

NGM Underground (17)

 
 

 

 
 

38.5%

 
 

 

 
 

4,000

 
 

11.28

 
 

1,400

 
 

 

 
 

39,700

 
 

7.73

 
 

9,900

 
 

 

 
 

43,700

 
 

8.06

 
 

11,300

 
 

 

 
 

89%

 
 

40,200

 
 

8.62

 
 

11,100

 
 

Total NGM, United States (18)(23)

 
 

 

 
 

38.5%

 
 

 

 
 

20,400

 
 

3.69

 
 

2,400

 
 

 

 
 

176,800

 
 

2.72

 
 

15,500

 
 

 

 
 

197,100

 
 

2.82

 
 

17,900

 
 

 

 
 

84%

 
 

224,100

 
 

2.54

 
 

18,300

 
 

  Held for sale (20)  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

CC&V Open Pit

 
 

 

 
 

100%

 
 

 

 
 

87,000

 
 

0.43

 
 

1,200

 
 

 

 
 

28,600

 
 

0.43

 
 

400

 
 

 

 
 

115,600

 
 

0.43

 
 

1,600

 
 

 

 
 

58%

 
 

46,600

 
 

0.40

 
 

600

 
 

CC&V Leach Pads (21)

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

34,600

 
 

0.73

 
 

800

 
 

 

 
 

34,600

 
 

0.73

 
 

800

 
 

 

 
 

55%

 
 

28,300

 
 

0.74

 
 

700

 
 

Total CC&V, United States

 
 

 

 
 

100%

 
 

 

 
 

87,000

 
 

0.43

 
 

1,200

 
 

 

 
 

63,200

 
 

0.60

 
 

1,200

 
 

 

 
 

150,200

 
 

0.50

 
 

2,400

 
 

 

 
 

57%

 
 

75,000

 
 

0.53

 
 

1,300

 
 

Musselwhite, Canada

 
 

 

 
 

100%

 
 

 

 
 

4,100

 
 

6.69

 
 

900

 
 

 

 
 

3,200

 
 

6.10

 
 

600

 
 

 

 
 

7,400

 
 

6.43

 
 

1,500

 
 

 

 
 

96%

 
 

7,000

 
 

6.52

 
 

1,500

 
 

Porcupine Underground

 
 

 

 
 

100%

 
 

 

 
 

1,600

 
 

5.09

 
 

300

 
 

 

 
 

2,700

 
 

7.27

 
 

600

 
 

 

 
 

4,400

 
 

6.45

 
 

900

 
 

 

 
 

89%

 
 

3,000

 
 

7.75

 
 

700

 
 

Porcupine Open Pit

 
 

 

 
 

100%

 
 

 

 
 

300

 
 

2.09

 
 

 
 

 

 
 

30,200

 
 

1.46

 
 

1,500

 
 

 

 
 

30,600

 
 

1.46

 
 

1,500

 
 

 

 
 

93%

 
 

29,700

 
 

1.53

 
 

1,500

 
 

Total Porcupine, Canada

 
 

 

 
 

100%

 
 

 

 
 

2,000

 
 

4.57

 
 

300

 
 

 

 
 

33,000

 
 

1.94

 
 

2,100

 
 

 

 
 

34,900

 
 

2.09

 
 

2,300

 
 

 

 
 

92%

 
 

32,700

 
 

2.10

 
 

2,200

 
 

Éléonore, Canada

 
 

 

 
 

100%

 
 

 

 
 

2,200

 
 

4.86

 
 

300

 
 

 

 
 

7,900

 
 

5.10

 
 

1,300

 
 

 

 
 

10,100

 
 

5.05

 
 

1,600

 
 

 

 
 

92%

 
 

8,900

 
 

5.38

 
 

1,500

 
 

Akyem Open Pit

 
 

 

 
 

100%

 
 

 

 
 

12,700

 
 

1.52

 
 

600

 
 

 

 
 

5,500

 
 

1.58

 
 

300

 
 

 

 
 

18,200

 
 

1.54

 
 

900

 
 

 

 
 

90%

 
 

19,000

 
 

1.55

 
 

900

 
 

Akyem Stockpiles (5)

 
 

 

 
 

100%

 
 

 

 
 

700

 
 

0.72

 
 

 
 

 

 
 

 
 

 
 

 
 

 

 
 

700

 
 

0.72

 
 

 
 

 

 
 

90%

 
 

6,700

 
 

0.78

 
 

200

 
 

Total Akyem, Ghana (22)

 
 

 

 
 

100%

 
 

 

 
 

13,500

 
 

1.48

 
 

600

 
 

 

 
 

5,500

 
 

1.58

 
 

300

 
 

 

 
 

19,000

 
 

1.50

 
 

900

 
 

 

 
 

90%

 
 

25,600

 
 

1.35

 
 

1,100

 
 

  Total Gold  

 
 

 

 
 

 

 
 

 

 
 

  622,100  

 
 

  1.06  

 
 

  21,100  

 
 

 

 
 

  3,741,000  

 
 

  0.94  

 
 

  113,000  

 
 

 

 
 

  4,363,000  

 
 

  0.96  

 
 

  134,100  

 
 

 

 
 

  81%  

 
 

  4,348,100  

 
 

  0.97  

 
 

  135,900  

 
 
                                                                        
 

  (1)

 
 

At December 31, 2024 and 2023, gold reserves at sites for which Newmont is the operator were estimated at a gold price of $1,700 and $1,400 per ounce, respectively, 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.

 
 

  (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.

 
 

  (4)

 
 

Gold reserves at December 31, 2024 were estimated at a gold price of $1,300 per ounce.

 
 

  (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.

 
 

  (6)

 
 

The net smelter return value utilized in 2024 reserves not less than $14.10 per tonne.

 
 

  (7)

 
 

Gold reserves related to the undeveloped Yanacocha Sulfides project at December 31, 2024 were estimated at a gold price of $1,200 per ounce.

 
 

  (8)

 
 

The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Gold reserves at December 31, 2024 were estimated at a gold price of $1,400 per ounce. Gold reserves at December 31, 2024 and 2023 were provided by Barrick, the operator of Pueblo Viejo.

 
 

  (9)

 
 

Project is currently undeveloped. Gold reserves at December 31, 2024 and 2023 were estimated at a gold price of $1,300 per ounce and were provided by the NuevaUnión joint venture.

 
 

  (10)

 
 

Project is currently undeveloped. Gold reserves at December 31, 2024 and 2023 were estimated at a gold price of $1,200 per ounce and were provided by the Norte Abierto joint venture.

 
 

  (11)

 
 

The net smelter return value utilized in 2024 reserves not less than $16.20 per tonne.

 
 

  (12)

 
 

The net smelter return value utilized in 2024 reserves not less than $21.70 per tonne.

 
 

  (13)

 
 

Cut-off grade utilized in 2024 reserves not less than 1.20 gram per tonne.

 
 

  (14)

 
 

Gold reserves at December 31, 2024 were estimated at a gold price of $1,200 per ounce.

 
 

  (15)

 
 

Cut-off grade utilized in 2024 reserves not less than 0.17 gram per tonne.

 
 

  (16)

 
 

Cut-off grade utilized in 2024 reserves not less than 0.42 gram per tonne.

 
 

  (17)

 
 

Cut-off grade utilized in 2024 reserves not less than 3.73 gram per tonne.

 
 

  (18)

 
 

Gold reserves at December 31, 2024 were estimated at a gold price of $1,400 per ounce and were provided by Barrick, the operator of the NGM joint venture.

 
 

  (19)

 
 

Currently included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.

 
 

  (20)

 
 

Sites are classified as held for sale as of December 31, 2024. Refer to Note 3 to the Consolidated Financial Statements for further discussion of our assets and liabilities held for sale.

 
 

  (21)

 
 

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.

 
 

  (22)

 
 

Gold reserves at December 31, 2024 were estimated at a gold price of $1,400 per ounce.

 
 

  (23)

 
 

Amounts presented herein have been rounded to the nearest 100,000 for ounces and tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.

 
 

  (24)

 
 

Sites acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information. Gold reserves at sites acquired through the Newcrest transaction were estimated at a gold price of $1,300 per ounce at December 31, 2023, with the exception of Lihir, for which gold reserves were estimated using Newmont's price assumptions, and certain legacy estimates, which have applied older, more conservative price assumptions.

 
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
 

  Gold Resources at December 31, 2024 (1)(2)  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Measured Resource

 
 

 

 
 

Indicated Resource

 
 

 

 
 

Measured and Indicated Resource

 
 

 

 
 

Inferred Resource

 
 

 

 
 

 

 
 

Deposits/Districts

 
 

 

 
 

Newmont

 

Share

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Metallurgical Recovery (3)

 
 

Brucejack, Canada

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

4,300

 
 

4.68

 
 

600

 
 

 

 
 

4,300

 
 

4.68

 
 

600

 
 

 

 
 

16,600

 
 

5.8

 
 

3,100

 
 

 

 
 

96%

 
 

Red Chris, Canada (4)

 
 

 

 
 

70%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

335,100

 
 

0.34

 
 

3,700

 
 

 

 
 

335,100

 
 

0.34

 
 

3,700

 
 

 

 
 

62,100

 
 

0.3

 
 

700

 
 

 

 
 

55%

 
 

Galore Creek, Canada (5)(15)

 
 

 

 
 

50%

 
 

 

 
 

212,800

 
 

0.29

 
 

2,000

 
 

 

 
 

385,600

 
 

0.22

 
 

2,700

 
 

 

 
 

598,400

 
 

0.25

 
 

4,700

 
 

 

 
 

118,900

 
 

0.2

 
 

700

 
 

 

 
 

75%

 
 

Peñasquito, Mexico

 
 

 

 
 

100%

 
 

 

 
 

48,200

 
 

0.30

 
 

500

 
 

 

 
 

163,100

 
 

0.22

 
 

1,100

 
 

 

 
 

211,300

 
 

0.24

 
 

1,600

 
 

 

 
 

21,100

 
 

0.2

 
 

100

 
 

 

 
 

57%

 
 

Noche Buena, Mexico (15)

 
 

 

 
 

50%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

19,900

 
 

0.37

 
 

200

 
 

 

 
 

19,900

 
 

0.37

 
 

200

 
 

 

 
 

1,600

 
 

0.2

 
 

 
 

 

 
 

50%

 
 

Merian, Suriname

 
 

 

 
 

75%

 
 

 

 
 

5,800

 
 

1.03

 
 

200

 
 

 

 
 

58,600

 
 

1.08

 
 

2,000

 
 

 

 
 

64,500

 
 

1.08

 
 

2,200

 
 

 

 
 

70,000

 
 

0.9

 
 

2,000

 
 

 

 
 

90%

 
 

Cerro Negro, Argentina

 
 

 

 
 

100%

 
 

 

 
 

1,300

 
 

3.77

 
 

200

 
 

 

 
 

1,900

 
 

5.65

 
 

300

 
 

 

 
 

3,200

 
 

4.88

 
 

500

 
 

 

 
 

7,600

 
 

4.8

 
 

1,200

 
 

 

 
 

94%

 
 

Conga, Peru (6)(15)

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

693,800

 
 

0.65

 
 

14,600

 
 

 

 
 

693,800

 
 

0.65

 
 

14,600

 
 

 

 
 

230,500

 
 

0.4

 
 

2,900

 
 

 

 
 

75%

 
 

Yanacocha Open Pit

 
 

 

 
 

100%

 
 

 

 
 

16,600

 
 

0.41

 
 

200

 
 

 

 
 

109,200

 
 

0.40

 
 

1,400

 
 

 

 
 

125,700

 
 

0.40

 
 

1,600

 
 

 

 
 

287,200

 
 

0.6

 
 

5,100

 
 

 

 
 

66%

 
 

Yanacocha Underground

 
 

 

 
 

100%

 
 

 

 
 

500

 
 

4.07

 
 

100

 
 

 

 
 

6,200

 
 

4.70

 
 

900

 
 

 

 
 

6,700

 
 

4.65

 
 

1,000

 
 

 

 
 

3,400

 
 

5.0

 
 

500

 
 

 

 
 

97%

 
 

Total Yanacocha, Peru (7)

 
 

 

 
 

100%

 
 

 

 
 

17,100

 
 

0.52

 
 

300

 
 

 

 
 

115,400

 
 

0.63

 
 

2,300

 
 

 

 
 

132,500

 
 

0.62

 
 

2,600

 
 

 

 
 

290,700

 
 

0.6

 
 

5,600

 
 

 

 
 

72%

 
 

Pueblo Viejo, Dominican Republic (8)(15)

 
 

 

 
 

40%

 
 

 

 
 

8,200

 
 

1.39

 
 

400

 
 

 

 
 

38,200

 
 

1.44

 
 

1,800

 
 

 

 
 

46,400

 
 

1.43

 
 

2,100

 
 

 

 
 

5,000

 
 

1.6

 
 

300

 
 

 

 
 

88%

 
 

NuevaUnión, Chile (9)(15)

 
 

 

 
 

50%

 
 

 

 
 

4,800

 
 

0.47

 
 

100

 
 

 

 
 

118,300

 
 

0.59

 
 

2,300

 
 

 

 
 

123,100

 
 

0.59

 
 

2,300

 
 

 

 
 

239,800

 
 

0.4

 
 

3,100

 
 

 

 
 

68%

 
 

Norte Abierto, Chile (10)(15)

 
 

 

 
 

50%

 
 

 

 
 

77,200

 
 

0.61

 
 

1,500

 
 

 

 
 

596,900

 
 

0.49

 
 

9,300

 
 

 

 
 

674,200

 
 

0.50

 
 

10,800

 
 

 

 
 

369,600

 
 

0.4

 
 

4,400

 
 

 

 
 

76%

 
 

Boddington, Australia

 
 

 

 
 

100%

 
 

 

 
 

90,600

 
 

0.55

 
 

1,600

 
 

 

 
 

154,100

 
 

0.53

 
 

2,600

 
 

 

 
 

244,700

 
 

0.54

 
 

4,200

 
 

 

 
 

3,500

 
 

0.6

 
 

100

 
 

 

 
 

84%

 
 

Tanami Open Pit

 
 

 

 
 

100%

 
 

 

 
 

9,700

 
 

1.65

 
 

500

 
 

 

 
 

26,500

 
 

1.45

 
 

1,200

 
 

 

 
 

36,200

 
 

1.50

 
 

1,700

 
 

 

 
 

5,300

 
 

1.1

 
 

200

 
 

 

 
 

90%

 
 

Tanami Underground

 
 

 

 
 

100%

 
 

 

 
 

2,800

 
 

3.22

 
 

300

 
 

 

 
 

6,600

 
 

3.80

 
 

800

 
 

 

 
 

9,300

 
 

3.63

 
 

1,100

 
 

 

 
 

17,200

 
 

4.4

 
 

2,400

 
 

 

 
 

97%

 
 

Total Tanami, Australia

 
 

 

 
 

100%

 
 

 

 
 

12,500

 
 

1.99

 
 

800

 
 

 

 
 

33,000

 
 

1.92

 
 

2,000

 
 

 

 
 

45,500

 
 

1.94

 
 

2,800

 
 

 

 
 

22,500

 
 

3.6

 
 

2,600

 
 

 

 
 

94%

 
 

Cadia Underground

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

1,245,100

 
 

0.36

 
 

14,200

 
 

 

 
 

1,245,100

 
 

0.36

 
 

14,200

 
 

 

 
 

549,400

 
 

0.3

 
 

4,800

 
 

 

 
 

81%

 
 

Cadia Stockpiles and Open Pit

 
 

 

 
 

100%

 
 

 

 
 

30,800

 
 

0.30

 
 

300

 
 

 

 
 

 
 

 
 

 
 

 

 
 

30,800

 
 

0.30

 
 

300

 
 

 

 
 

11,000

 
 

0.7

 
 

200

 
 

 

 
 

65%

 
 

Total Cadia, Australia

 
 

 

 
 

100%

 
 

 

 
 

30,800

 
 

0.30

 
 

300

 
 

 

 
 

1,245,100

 
 

0.36

 
 

14,200

 
 

 

 
 

1,275,900

 
 

0.35

 
 

14,500

 
 

 

 
 

560,400

 
 

0.3

 
 

5,000

 
 

 

 
 

81%

 
 

Namosi, Fiji (11)(15)

 
 

 

 
 

73.24%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

105,500

 
 

0.22

 
 

700

 
 

 

 
 

105,500

 
 

0.22

 
 

700

 
 

 

 
 

1,346,900

 
 

0.1

 
 

4,300

 
 

 

 
 

72%

 
 

Lihir Open Pit

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

43,600

 
 

1.97

 
 

2,800

 
 

 

 
 

43,600

 
 

1.97

 
 

2,800

 
 

 

 
 

227,400

 
 

2.4

 
 

17,600

 
 

 

 
 

75%

 
 

Lihir Stockpiles

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

1,000

 
 

2.11

 
 

100

 
 

 

 
 

1,000

 
 

2.11

 
 

100

 
 

 

 
 

 
 

 
 

 
 

 

 
 

75%

 
 

Total Lihir, Papua New Guinea

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

44,600

 
 

1.97

 
 

2,800

 
 

 

 
 

44,600

 
 

1.97

 
 

2,800

 
 

 

 
 

227,400

 
 

2.4

 
 

17,600

 
 

 

 
 

75%

 
 

Wafi-Golpu Open Pit (12)

 
 

 

 
 

50%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

53,600

 
 

1.66

 
 

2,900

 
 

 

 
 

53,600

 
 

1.66

 
 

2,900

 
 

 

 
 

15,500

 
 

1.3

 
 

600

 
 

 

 
 

65%

 
 

Wafi-Golpu Underground (13)

 
 

 

 
 

50%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

140,800

 
 

0.45

 
 

2,000

 
 

 

 
 

140,800

 
 

0.45

 
 

2,000

 
 

 

 
 

91,900

 
 

0.6

 
 

1,900

 
 

 

 
 

68%

 
 

Total Wafi-Golpu, Papua New Guinea (15)

 
 

 

 
 

50%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

194,500

 
 

0.78

 
 

4,900

 
 

 

 
 

194,500

 
 

0.78

 
 

4,900

 
 

 

 
 

107,300

 
 

0.7

 
 

2,600

 
 

 

 
 

67%

 
 

Ahafo South Open Pit

 
 

 

 
 

100%

 
 

 

 
 

3,900

 
 

1.13

 
 

100

 
 

 

 
 

6,500

 
 

0.83

 
 

200

 
 

 

 
 

10,400

 
 

0.95

 
 

300

 
 

 

 
 

3,500

 
 

1.2

 
 

100

 
 

 

 
 

85%

 
 

Ahafo South Underground

 
 

 

 
 

100%

 
 

 

 
 

700

 
 

 
 

100

 
 

 

 
 

27,100

 
 

3.96

 
 

3,400

 
 

 

 
 

27,800

 
 

3.95

 
 

3,500

 
 

 

 
 

11,500

 
 

3.1

 
 

1,200

 
 

 

 
 

91%

 
 

Total Ahafo South, Ghana

 
 

 

 
 

100%

 
 

 

 
 

4,700

 
 

1.56

 
 

200

 
 

 

 
 

33,500

 
 

3.35

 
 

3,600

 
 

 

 
 

38,200

 
 

3.13

 
 

3,800

 
 

 

 
 

15,000

 
 

2.7

 
 

1,300

 
 

 

 
 

91%

 
 

Ahafo North Open Pit, Ghana

 
 

 

 
 

100.0%

 
 

 

 
 

6,900

 
 

1.41

 
 

300

 
 

 

 
 

28,300

 
 

1.78

 
 

1,600

 
 

 

 
 

35,200

 
 

1.71

 
 

1,900

 
 

 

 
 

13,700

 
 

1.6

 
 

700

 
 

 

 
 

90%

 
 

NGM Open Pits and Stockpiles

 
 

 

 
 

38.5%

 
 

 

 
 

3,700

 
 

1.23

 
 

100

 
 

 

 
 

158,500

 
 

0.74

 
 

3,800

 
 

 

 
 

162,200

 
 

0.76

 
 

4,000

 
 

 

 
 

56,700

 
 

0.9

 
 

1,600

 
 

 

 
 

72%

 
 

NGM Underground

 
 

 

 
 

38.5%

 
 

 

 
 

200

 
 

23.55

 
 

200

 
 

 

 
 

21,500

 
 

6.34

 
 

4,400

 
 

 

 
 

21,800

 
 

6.52

 
 

4,600

 
 

 

 
 

25,100

 
 

6.4

 
 

5,200

 
 

 

 
 

87%

 
 

Total NGM, Nevada (14)(16)

 
 

 

 
 

38.5%

 
 

 

 
 

3,900

 
 

2.51

 
 

300

 
 

 

 
 

180,000

 
 

1.41

 
 

8,200

 
 

 

 
 

183,900

 
 

1.44

 
 

8,500

 
 

 

 
 

81,800

 
 

2.6

 
 

6,700

 
 

 

 
 

82%

 
 

  Held for sale (17)  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

CC&V, United States

 
 

 

 
 

100%

 
 

 

 
 

20,300

 
 

0.53

 
 

300

 
 

 

 
 

26,500

 
 

0.48

 
 

400

 
 

 

 
 

46,700

 
 

0.50

 
 

800

 
 

 

 
 

71,400

 
 

0.4

 
 

900

 
 

 

 
 

51%

 
 

Musselwhite, Canada

 
 

 

 
 

100%

 
 

 

 
 

1,500

 
 

4.21

 
 

200

 
 

 

 
 

2,300

 
 

4.10

 
 

300

 
 

 

 
 

3,800

 
 

4.15

 
 

500

 
 

 

 
 

1,900

 
 

5.0

 
 

300

 
 

 

 
 

96%

 
 

Porcupine Underground

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

1,000

 
 

7.70

 
 

300

 
 

 

 
 

1,100

 
 

7.59

 
 

300

 
 

 

 
 

1,900

 
 

7.8

 
 

500

 
 

 

 
 

92%

 
 

Porcupine Open Pit

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

75,600

 
 

1.51

 
 

3,700

 
 

 

 
 

75,600

 
 

1.51

 
 

3,700

 
 

 

 
 

65,900

 
 

1.4

 
 

2,900

 
 

 

 
 

92%

 
 

Total Porcupine, Canada

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

76,600

 
 

1.59

 
 

3,900

 
 

 

 
 

76,600

 
 

1.59

 
 

3,900

 
 

 

 
 

67,900

 
 

1.5

 
 

3,400

 
 

 

 
 

92%

 
 

Éléonore, Canada

 
 

 

 
 

100%

 
 

 

 
 

400

 
 

4.94

 
 

100

 
 

 

 
 

2,900

 
 

4.11

 
 

400

 
 

 

 
 

3,300

 
 

4.21

 
 

400

 
 

 

 
 

2,400

 
 

4.6

 
 

400

 
 

 

 
 

92%

 
 

Coffee, Canada (15)

 
 

 

 
 

100%

 
 

 

 
 

900

 
 

2.14

 
 

100

 
 

 

 
 

49,300

 
 

1.26

 
 

2,000

 
 

 

 
 

50,200

 
 

1.28

 
 

2,100

 
 

 

 
 

6,700

 
 

1.0

 
 

200

 
 

 

 
 

81%

 
 

Akyem, Ghana (18)

 
 

 

 
 

100%

 
 

 

 
 

800

 
 

0.73

 
 

 
 

 

 
 

9,700

 
 

3.83

 
 

1,200

 
 

 

 
 

10,600

 
 

3.58

 
 

1,200

 
 

 

 
 

5,500

 
 

3.0

 
 

500

 
 

 

 
 

92%

 
 

  Total Gold  

 
 

 

 
 

 

 
 

 

 
 

  548,800  

 
 

  0.53  

 
 

  9,300  

 
 

 

 
 

  4,717,000  

 
 

  0.59  

 
 

  90,100  

 
 

 

 
 

  5,265,900  

 
 

  0.59  

 
 

  99,400  

 
 

 

 
 

  3,967,800  

 
 

  0.6  

 
 

  70,600  

 
 

 

 
 

  78%  

 
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
 

  Gold Resources (1)(2) - December 31, 2023  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Measured Resource

 
 

 

 
 

Indicated Resource

 
 

 

 
 

Measured and Indicated Resource

 
 

 

 
 

Inferred Resource

 
 

 

 
 

 

 
 

Deposits/Districts

 
 

 

 
 

Newmont

 

Share

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Metallurgical Recovery (3)

 
 

CC&V, United States

 
 

 

 
 

100%

 
 

 

 
 

77,400

 
 

0.43

 
 

1,100

 
 

 

 
 

43,700

 
 

0.36

 
 

500

 
 

 

 
 

121,100

 
 

0.40

 
 

1,600

 
 

 

 
 

22,400

 
 

0.4

 
 

300

 
 

 

 
 

56%

 
 

Musselwhite, Canada

 
 

 

 
 

100%

 
 

 

 
 

900

 
 

4.36

 
 

100

 
 

 

 
 

1,300

 
 

4.17

 
 

200

 
 

 

 
 

2,200

 
 

4.25

 
 

300

 
 

 

 
 

1,200

 
 

5.0

 
 

200

 
 

 

 
 

96%

 
 

Porcupine Underground

 
 

 

 
 

100%

 
 

 

 
 

200

 
 

4.55

 
 

 
 

 

 
 

1,100

 
 

6.89

 
 

200

 
 

 

 
 

1,300

 
 

6.49

 
 

300

 
 

 

 
 

2,400

 
 

8.0

 
 

600

 
 

 

 
 

94%

 
 

Porcupine Open Pit

 
 

 

 
 

100%

 
 

 

 
 

100

 
 

0.60

 
 

 
 

 

 
 

66,300

 
 

1.65

 
 

3,500

 
 

 

 
 

66,300

 
 

1.65

 
 

3,500

 
 

 

 
 

59,800

 
 

1.5

 
 

2,800

 
 

 

 
 

92%

 
 

Total Porcupine, Canada

 
 

 

 
 

100%

 
 

 

 
 

300

 
 

3.67

 
 

 
 

 

 
 

67,400

 
 

1.73

 
 

3,800

 
 

 

 
 

67,700

 
 

1.74

 
 

3,800

 
 

 

 
 

62,200

 
 

1.7

 
 

3,400

 
 

 

 
 

92%

 
 

Éléonore, Canada

 
 

 

 
 

100%

 
 

 

 
 

700

 
 

4.59

 
 

100

 
 

 

 
 

2,100

 
 

4.70

 
 

300

 
 

 

 
 

2,800

 
 

4.68

 
 

400

 
 

 

 
 

1,800

 
 

5.7

 
 

300

 
 

 

 
 

92%

 
 

Brucejack, Canada (19)

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

1,800

 
 

7.64

 
 

500

 
 

 

 
 

1,800

 
 

7.64

 
 

500

 
 

 

 
 

12,100

 
 

10.3

 
 

4,000

 
 

 

 
 

96%

 
 

Red Chris, Canada (19)

 
 

 

 
 

70%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

334,700

 
 

0.34

 
 

3,600

 
 

 

 
 

334,700

 
 

0.34

 
 

3,600

 
 

 

 
 

62,100

 
 

0.3

 
 

700

 
 

 

 
 

55%

 
 

Coffee, Canada (15)

 
 

 

 
 

100%

 
 

 

 
 

900

 
 

2.14

 
 

100

 
 

 

 
 

49,300

 
 

1.27

 
 

2,000

 
 

 

 
 

50,200

 
 

1.28

 
 

2,100

 
 

 

 
 

6,700

 
 

1.0

 
 

200

 
 

 

 
 

81%

 
 

Galore Creek, Canada (5)(15)

 
 

 

 
 

50%

 
 

 

 
 

212,800

 
 

0.29

 
 

2,000

 
 

 

 
 

385,600

 
 

0.22

 
 

2,700

 
 

 

 
 

598,400

 
 

0.25

 
 

4,700

 
 

 

 
 

118,900

 
 

0.2

 
 

700

 
 

 

 
 

75%

 
 

Peñasquito, Mexico (16)

 
 

 

 
 

100%

 
 

 

 
 

37,400

 
 

0.26

 
 

300

 
 

 

 
 

157,300

 
 

0.22

 
 

1,100

 
 

 

 
 

194,700

 
 

0.23

 
 

1,400

 
 

 

 
 

22,800

 
 

0.2

 
 

100

 
 

 

 
 

57%

 
 

Noche Buena, Mexico (15)

 
 

 

 
 

50%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

19,900

 
 

0.37

 
 

200

 
 

 

 
 

19,900

 
 

0.37

 
 

200

 
 

 

 
 

1,600

 
 

0.2

 
 

 
 

 

 
 

50%

 
 

Merian, Suriname

 
 

 

 
 

75%

 
 

 

 
 

6,000

 
 

1.01

 
 

200

 
 

 

 
 

38,000

 
 

1.10

 
 

1,300

 
 

 

 
 

44,000

 
 

1.09

 
 

1,500

 
 

 

 
 

30,800

 
 

1.0

 
 

1,000

 
 

 

 
 

88%

 
 

Cerro Negro, Argentina

 
 

 

 
 

100%

 
 

 

 
 

1,300

 
 

3.71

 
 

200

 
 

 

 
 

2,100

 
 

6.17

 
 

400

 
 

 

 
 

3,400

 
 

5.22

 
 

600

 
 

 

 
 

6,200

 
 

4.7

 
 

900

 
 

 

 
 

94%

 
 

Conga, Peru (15)

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

693,800

 
 

0.65

 
 

14,600

 
 

 

 
 

693,800

 
 

0.65

 
 

14,600

 
 

 

 
 

230,500

 
 

0.4

 
 

2,900

 
 

 

 
 

75%

 
 

Yanacocha Open Pit

 
 

 

 
 

100%

 
 

 

 
 

16,800

 
 

0.41

 
 

200

 
 

 

 
 

111,300

 
 

0.43

 
 

1,500

 
 

 

 
 

128,000

 
 

0.42

 
 

1,700

 
 

 

 
 

186,500

 
 

0.8

 
 

4,800

 
 

 

 
 

67%

 
 

Yanacocha Underground

 
 

 

 
 

100%

 
 

 

 
 

500

 
 

4.07

 
 

100

 
 

 

 
 

6,200

 
 

4.70

 
 

900

 
 

 

 
 

6,700

 
 

4.65

 
 

1,000

 
 

 

 
 

3,400

 
 

5.0

 
 

500

 
 

 

 
 

97%

 
 

Total Yanacocha, Peru

 
 

 

 
 

100%

 
 

 

 
 

17,300

 
 

0.52

 
 

300

 
 

 

 
 

117,500

 
 

0.65

 
 

2,500

 
 

 

 
 

134,800

 
 

0.64

 
 

2,800

 
 

 

 
 

189,900

 
 

0.9

 
 

5,400

 
 

 

 
 

73%

 
 

Pueblo Viejo, Dominican Republic (8)(15)

 
 

 

 
 

40%

 
 

 

 
 

7,300

 
 

1.47

 
 

300

 
 

 

 
 

37,300

 
 

1.49

 
 

1,800

 
 

 

 
 

44,600

 
 

1.49

 
 

2,100

 
 

 

 
 

3,200

 
 

1.6

 
 

200

 
 

 

 
 

82%

 
 

NuevaUnión, Chile (9)(15)

 
 

 

 
 

50%

 
 

 

 
 

4,800

 
 

0.47

 
 

100

 
 

 

 
 

118,300

 
 

0.59

 
 

2,300

 
 

 

 
 

123,100

 
 

0.59

 
 

2,300

 
 

 

 
 

239,800

 
 

0.4

 
 

3,100

 
 

 

 
 

68%

 
 

Norte Abierto, Chile (10)(15)

 
 

 

 
 

50%

 
 

 

 
 

77,200

 
 

0.61

 
 

1,500

 
 

 

 
 

596,900

 
 

0.49

 
 

9,300

 
 

 

 
 

674,200

 
 

0.50

 
 

10,800

 
 

 

 
 

369,600

 
 

0.4

 
 

4,400

 
 

 

 
 

76%

 
 

Boddington, Australia

 
 

 

 
 

100%

 
 

 

 
 

98,200

 
 

0.55

 
 

1,700

 
 

 

 
 

169,700

 
 

0.54

 
 

2,900

 
 

 

 
 

267,900

 
 

0.54

 
 

4,700

 
 

 

 
 

2,400

 
 

0.5

 
 

 
 

 

 
 

83%

 
 

Tanami Open Pit

 
 

 

 
 

100%

 
 

 

 
 

9,400

 
 

1.67

 
 

500

 
 

 

 
 

23,800

 
 

1.47

 
 

1,100

 
 

 

 
 

33,200

 
 

1.53

 
 

1,600

 
 

 

 
 

4,200

 
 

1.1

 
 

200

 
 

 

 
 

90%

 
 

Tanami Underground

 
 

 

 
 

100%

 
 

 

 
 

2,500

 
 

3.82

 
 

300

 
 

 

 
 

5,600

 
 

4.43

 
 

800

 
 

 

 
 

8,000

 
 

4.24

 
 

1,100

 
 

 

 
 

15,900

 
 

4.5

 
 

2,300

 
 

 

 
 

96%

 
 

Total Tanami, Australia

 
 

 

 
 

100%

 
 

 

 
 

11,900

 
 

2.12

 
 

800

 
 

 

 
 

29,400

 
 

2.03

 
 

1,900

 
 

 

 
 

41,200

 
 

2.06

 
 

2,700

 
 

 

 
 

20,100

 
 

3.8

 
 

2,400

 
 

 

 
 

94%

 
 

Cadia Underground

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

1,596,600

 
 

0.32

 
 

16,200

 
 

 

 
 

1,596,600

 
 

0.32

 
 

16,200

 
 

 

 
 

497,000

 
 

0.2

 
 

3,800

 
 

 

 
 

80%

 
 

Cadia Stockpiles and Open Pit

 
 

 

 
 

100%

 
 

 

 
 

30,900

 
 

0.30

 
 

300

 
 

 

 
 

 
 

 
 

 
 

 

 
 

30,900

 
 

0.30

 
 

300

 
 

 

 
 

11,000

 
 

0.7

 
 

200

 
 

 

 
 

65%

 
 

Total Cadia, Australia (16)(19)

 
 

 

 
 

100%

 
 

 

 
 

30,900

 
 

0.30

 
 

300

 
 

 

 
 

1,596,600

 
 

0.32

 
 

16,200

 
 

 

 
 

1,627,500

 
 

0.32

 
 

16,500

 
 

 

 
 

508,000

 
 

0.2

 
 

4,100

 
 

 

 
 

80%

 
 

Telfer Open Pit

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

25,900

 
 

0.56

 
 

500

 
 

 

 
 

25,900

 
 

0.56

 
 

500

 
 

 

 
 

 
 

 
 

 
 

 

 
 

78%

 
 

Telfer Underground

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

1,700

 
 

2.31

 
 

100

 
 

 

 
 

1,700

 
 

2.31

 
 

100

 
 

 

 
 

 
 

 
 

 
 

 

 
 

90%

 
 

Total Telfer, Australia (19)(20)

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

27,600

 
 

0.67

 
 

600

 
 

 

 
 

27,600

 
 

0.67

 
 

600

 
 

 

 
 

 
 

 
 

 
 

 

 
 

81%

 
 

Havieron, Australia (19)(20)

 
 

 

 
 

70%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

33,200

 
 

2.65

 
 

2,800

 
 

 

 
 

33,200

 
 

2.65

 
 

2,800

 
 

 

 
 

11,400

 
 

1.7

 
 

600

 
 

 

 
 

87%

 
 

Namosi, Fiji (15)(19)

 
 

 

 
 

73.24%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

105,500

 
 

0.22

 
 

700

 
 

 

 
 

105,500

 
 

0.22

 
 

700

 
 

 

 
 

1,346,900

 
 

0.1

 
 

4,300

 
 

 

 
 

72%

 
 

Lihir Open Pit

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

25,000

 
 

2.03

 
 

1,600

 
 

 

 
 

25,000

 
 

2.03

 
 

1,600

 
 

 

 
 

227,400

 
 

2.4

 
 

17,500

 
 

 

 
 

80%

 
 

Lihir Stockpiles

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

22,200

 
 

1.47

 
 

1,000

 
 

 

 
 

22,200

 
 

1.47

 
 

1,000

 
 

 

 
 

 
 

 
 

 
 

 

 
 

78%

 
 

Total Lihir, Papua New Guinea (16)(19)

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

47,100

 
 

1.77

 
 

2,700

 
 

 

 
 

47,100

 
 

1.77

 
 

2,700

 
 

 

 
 

227,400

 
 

2.4

 
 

17,500

 
 

 

 
 

79%

 
 

Wafi-Golpu Open Pit

 
 

 

 
 

50%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

53,600

 
 

1.66

 
 

2,900

 
 

 

 
 

53,600

 
 

1.66

 
 

2,900

 
 

 

 
 

15,500

 
 

1.3

 
 

600

 
 

 

 
 

65%

 
 

Wafi-Golpu Underground

 
 

 

 
 

50%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

140,800

 
 

0.45

 
 

2,000

 
 

 

 
 

140,800

 
 

0.45

 
 

2,000

 
 

 

 
 

91,900

 
 

0.6

 
 

1,900

 
 

 

 
 

68%

 
 

Total Wafi-Golpu, Papua New Guinea (15)(19)

 
 

 

 
 

50%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

194,500

 
 

0.78

 
 

4,900

 
 

 

 
 

194,500

 
 

0.78

 
 

4,900

 
 

 

 
 

107,300

 
 

0.7

 
 

2,600

 
 

 

 
 

67%

 
 

Ahafo South Open Pit

 
 

 

 
 

100%

 
 

 

 
 

3,200

 
 

1.21

 
 

100

 
 

 

 
 

5,600

 
 

0.92

 
 

200

 
 

 

 
 

8,800

 
 

1.03

 
 

300

 
 

 

 
 

6,100

 
 

1.4

 
 

300

 
 

 

 
 

88%

 
 

Ahafo South Underground

 
 

 

 
 

100%

 
 

 

 
 

 
 

1.59

 
 

 
 

 

 
 

27,200

 
 

3.71

 
 

3,200

 
 

 

 
 

27,200

 
 

3.71

 
 

3,200

 
 

 

 
 

13,800

 
 

3.0

 
 

1,300

 
 

 

 
 

91%

 
 

Total Ahafo South, Ghana

 
 

 

 
 

100%

 
 

 

 
 

3,200

 
 

1.21

 
 

100

 
 

 

 
 

32,800

 
 

3.24

 
 

3,400

 
 

 

 
 

36,000

 
 

3.05

 
 

3,500

 
 

 

 
 

19,900

 
 

2.5

 
 

1,600

 
 

 

 
 

91%

 
 

Ahafo North, Ghana

 
 

 

 
 

100%

 
 

 

 
 

5,000

 
 

1.46

 
 

200

 
 

 

 
 

12,700

 
 

1.88

 
 

800

 
 

 

 
 

17,700

 
 

1.76

 
 

1,000

 
 

 

 
 

6,600

 
 

1.6

 
 

300

 
 

 

 
 

91%

 
 

Akyem, Ghana

 
 

 

 
 

100%

 
 

 

 
 

900

 
 

0.72

 
 

 
 

 

 
 

9,800

 
 

3.83

 
 

1,200

 
 

 

 
 

10,600

 
 

3.57

 
 

1,200

 
 

 

 
 

5,600

 
 

2.9

 
 

500

 
 

 

 
 

92%

 
 

NGM Open Pit and Stockpiles

 
 

 

 
 

38.5%

 
 

 

 
 

4,000

 
 

0.99

 
 

100

 
 

 

 
 

175,200

 
 

0.99

 
 

5,500

 
 

 

 
 

179,200

 
 

0.99

 
 

5,700

 
 

 

 
 

101,000

 
 

0.8

 
 

2,500

 
 

 

 
 

75%

 
 

NGM Underground

 
 

 

 
 

38.5%

 
 

 

 
 

1,400

 
 

7.51

 
 

300

 
 

 

 
 

20,900

 
 

5.95

 
 

4,000

 
 

 

 
 

22,200

 
 

6.04

 
 

4,300

 
 

 

 
 

23,100

 
 

6.5

 
 

4,800

 
 

 

 
 

84%

 
 

Total NGM, United States (14)

 
 

 

 
 

38.5%

 
 

 

 
 

5,300

 
 

2.66

 
 

500

 
 

 

 
 

196,000

 
 

1.52

 
 

9,600

 
 

 

 
 

201,400

 
 

1.55

 
 

10,000

 
 

 

 
 

124,100

 
 

1.8

 
 

7,300

 
 

 

 
 

80%

 
 

  Total Gold  

 
 

 

 
 

 

 
 

 

 
 

  599,700  

 
 

  0.52  

 
 

  9,900  

 
 

 

 
 

  5,121,900  

 
 

  0.58  

 
 

  94,900  

 
 

 

 
 

  5,721,600  

 
 

  0.57  

 
 

  104,800  

 
 

 

 
 

  3,761,500  

 
 

  0.6  

 
 

  69,100  

 
 

 

 
 

  78%  

 
 
                                                            
 

  (1)

 
 

Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding.

 
 

  (2)

 
 

At December 31, 2024 and 2023, gold resources at sites for which Newmont is the operator were estimated at a gold price of $2,000 and $1,600 per ounce, 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.

 
 

  (4)

 
 

Gold resources related to the underground mine at December 31, 2024 were estimated at a gold price of $1,400 per ounce.

 
 

  (5)

 
 

Project is currently undeveloped. Resource estimates provided by Teck Resources, the Galore Creek joint venture partner.

 
 

  (6)

 
 

Gold resources at December 31, 2024 were estimated at a gold price of $1,400 per ounce.

 
 

  (7)

 
 

Gold resources related to the undeveloped Yanacocha Sulfides project at December 31, 2024 were estimated at a gold price of $1,400 per ounce.

 
 

  (8)

 
 

The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Gold resources at December 31, 2024 were estimated at a gold price of $1,900 per ounce. Gold resources at December 31, 2024 and 2023 were provided by Barrick, the operator of Pueblo Viejo.

 
 

  (9)

 
 

Project is currently undeveloped. Gold resources at December 31, 2024 and 2023 were estimated at a gold price of $1,300 per ounce and were provided by the NuevaUnión joint venture.

 
 

  (10)

 
 

Project is currently undeveloped. Gold resources at December 31, 2024 and 2023 were estimated at a gold price of $1,400 per ounce and were provided by the Norte Abierto joint venture.

 
 

  (11)

 
 

Gold resources at December 31, 2024 were estimated at a gold price of $1,400 per ounce.

 
 

  (12)

 
 

Gold resources at December 31, 2024 were estimated at a gold price of $1,300 per ounce.

 
 

  (13)

 
 

Gold resources at December 31, 2024 were estimated at a gold price of $1,400 per ounce.

 
 

  (14)

 
 

Gold resources at December 31, 2024 were estimated at a gold price of $1,900 per ounce. Gold resources at December 31, 2024 and 2023 were provided by Barrick, the operator of the NGM joint venture.

 
 

  (15)

 
 

Currently included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.

 
 

  (16)

 
 

Amounts presented herein have been rounded to the nearest 100,000 for ounces and tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.

 
 

  (17)

 
 

Sites are classified as held for sale as of December 31, 2024. Refer to Note 3 to the Consolidated Financial Statements for further discussion of our assets and liabilities held for sale.

 
 

  (18)

 
 

Gold resources at December 31, 2024 were estimated at a gold price of $1,600 per ounce.

 
 

  (19)

 
 

Sites acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information. At December 31, 2023, gold resources at sites acquired through the Newcrest transaction were estimated at a gold price of $1,400 per ounce, with the exception of Havieron and Lihir, for which gold resources were estimated using Newmont's price assumptions, and certain legacy estimates, which have applied older, more conservative price assumptions.

 
 

  (20)

 
 

In the fourth quarter of 2024, the Company completed the sale of the assets of the Telfer reportable segment, which includes the Havieron development project. Refer to Note 3 to the Consolidated Financial Statements for further information.

 
 
                                                                                                                                                                                                                                                                                                                       
 

  Copper Reserves (1)  

 
 

  December 31, 2024  

 
 

 

 
 

  December 31, 2023  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Proven Reserves

 
 

 

 
 

Probable Reserves

 
 

 

 
 

Proven and Probable Reserves

 
 

 

 
 

 

 
 

 

 
 

Proven and Probable Reserves

 
 

Deposits/Districts

 
 

 

 
 

Newmont Share

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(Cu %)

 
 

Tonnes (3) (000)

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(Cu %)

 
 

Tonnes (3) (000)

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(Cu %)

 
 

Tonnes (3) (000)

 
 

 

 
 

Metallurgical Recovery (3)

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(Cu %)

 
 

Tonnes (3) (000)

 
 

Red Chris Open Pit

 
 

 

 
 

70%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

14,700

 
 

0.45%

 
 

 
 

 

 
 

14,700

 
 

0.45%

 
 

 
 

 

 
 

80%

 
 

 

 
 

30,200

 
 

0.43%

 
 

100

 
 

Red Chris Underground (4)

 
 

 

 
 

70%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

171,700

 
 

0.52%

 
 

900

 
 

 

 
 

171,700

 
 

0.52%

 
 

900

 
 

 

 
 

84%

 
 

 

 
 

171,700

 
 

0.52%

 
 

900

 
 

Total Red Chris, Canada (15)

 
 

 

 
 

70%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

186,400

 
 

0.52%

 
 

1,000

 
 

 

 
 

186,400

 
 

0.52%

 
 

1,000

 
 

 

 
 

84%

 
 

 

 
 

201,900

 
 

0.51%

 
 

1,000

 
 

Yanacocha, Peru (5)

 
 

 

 
 

100%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

111,100

 
 

0.63%

 
 

700

 
 

 

 
 

111,100

 
 

0.63%

 
 

700

 
 

 

 
 

83%

 
 

 

 
 

111,100

 
 

0.63%

 
 

700

 
 

NuevaUnión, Chile (6)(13)

 
 

 

 
 

50%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

1,118,000

 
 

0.40%

 
 

4,400

 
 

 

 
 

1,118,000

 
 

0.40%

 
 

4,400

 
 

 

 
 

88%

 
 

 

 
 

1,118,000

 
 

0.40%

 
 

4,400

 
 

Norte Abierto, Chile (7)(13)

 
 

 

 
 

50%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

598,800

 
 

0.22%

 
 

1,300

 
 

 

 
 

598,800

 
 

0.22%

 
 

1,300

 
 

 

 
 

87%

 
 

 

 
 

598,800

 
 

0.22%

 
 

1,300

 
 

Boddington Open Pit

 
 

 

 
 

100%

 
 

 

 
 

276,500

 
 

0.09%

 
 

200

 
 

 

 
 

219,200

 
 

0.10%

 
 

200

 
 

 

 
 

495,700

 
 

0.09%

 
 

500

 
 

 

 
 

81%

 
 

 

 
 

407,900

 
 

0.10%

 
 

400

 
 

Boddington Stockpiles (8)

 
 

 

 
 

100%

 
 

 

 
 

2,100

 
 

0.13%

 
 

 
 

 

 
 

61,900

 
 

0.09%

 
 

100

 
 

 

 
 

64,100

 
 

0.09%

 
 

100

 
 

 

 
 

79%

 
 

 

 
 

72,000

 
 

0.09%

 
 

100

 
 

Total Boddington, Australia (9)

 
 

 

 
 

100%

 
 

 

 
 

278,600

 
 

0.09%

 
 

200

 
 

 

 
 

281,200

 
 

0.10%

 
 

300

 
 

 

 
 

559,800

 
 

0.09%

 
 

500

 
 

 

 
 

81%

 
 

 

 
 

479,900

 
 

0.10%

 
 

500

 
 

Cadia, Australia (10)(14)(15)

 
 

 

 
 

100%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

1,051,800

 
 

0.29%

 
 

3,100

 
 

 

 
 

1,051,800

 
 

0.29%

 
 

3,100

 
 

 

 
 

87%

 
 

 

 
 

1,102,300

 
 

0.29%

 
 

3,200

 
 

Wafi-Golpu, Papua New Guinea (11)(13)(15)

 
 

 

 
 

50%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

194,500

 
 

1.20%

 
 

2,300

 
 

 

 
 

194,500

 
 

1.20%

 
 

2,300

 
 

 

 
 

95%

 
 

 

 
 

194,500

 
 

1.20%

 
 

2,300

 
 

NGM, United States (12)(14)

 
 

 

 
 

38.5%

 
 

 

 
 

4,300

 
 

0.16%

 
 

 
 

 

 
 

71,000

 
 

0.18%

 
 

100

 
 

 

 
 

75,400

 
 

0.18%

 
 

100

 
 

 

 
 

66%

 
 

 

 
 

86,100

 
 

0.17%

 
 

100

 
 

  Total Copper  

 
 

 

 
 

 

 
 

 

 
 

  282,900  

 
 

  0.09%  

 
 

  200  

 
 

 

 
 

  3,612,900  

 
 

  0.37%  

 
 

  13,200  

 
 

 

 
 

  3,895,800  

 
 

  0.35%  

 
 

  13,500  

 
 

 

 
 

  88%  

 
 

 

 
 

  3,892,500  

 
 

  0.35%  

 
 

  13,700  

 
 
                                             
 

  (1)

 
 

At December 31, 2024 and 2023, copper reserves at sites for which Newmont is the operator 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.

 
 

  (3)

 
 

Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.

 
 

  (4)

 
 

Copper reserves at December 31, 2024 were estimated at a copper price of $3.00 per pound.

 
 

  (5)

 
 

Copper reserve estimates relate to the undeveloped Yanacocha Sulfides project and at December 31, 2024 were estimated at a copper price of $2.75 per pound.

 
 

  (6)

 
 

Project is currently undeveloped. Copper reserves at December 31, 2024 and 2023 were estimated at a copper price of $3.00 per pound and were provided by the NuevaUnión joint venture.

 
 

  (7)

 
 

Project is currently undeveloped. Copper reserves at December 31, 2024 and 2023 were estimated at a copper price of $2.75 per pound and were 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.

 
 

  (9)

 
 

The net smelter return value utilized in 2024 reserves not less than $16.20 per tonne.

 
 

  (10)

 
 

The net smelter return value utilized in 2024 reserves not less than $21.70 per tonne.

 
 

  (11)

 
 

Copper reserves at December 31, 2024 were estimated at a copper price of $3.00 per pound.

 
 

  (12)

 
 

Copper cut-off grade varies with gold and silver credits. Copper reserves at December 31, 2024 were estimated at a copper price of $3.00 per ounce. Copper reserves at December 31, 2024 and 2023 were provided by Barrick, the operator of the NGM joint venture.

 
 

  (13)

 
 

Currently included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.

 
 

  (14)

 
 

Amounts presented herein have been rounded to the nearest 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.

 
 

  (15)

 
 

Sites acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information. Copper reserves at sites acquired through the Newcrest transaction were estimated at a copper price of $3.00 per pound at December 31, 2023, with the exception of certain legacy estimates, which have applied older, more conservative price assumptions.

 
 
                                                                                                                                                                                                                                                                                                                             
 

  Copper Resources (1)(2) - December 31, 2024  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Measured Resource

 
 

Indicated Resource

 
 

Measured and Indicated Resource

 
 

Inferred Resource

 
 

 

 
 

 

 
 

Deposits/Districts

 
 

 

 
 

Newmont

 

Share

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Cu%)

 
 

Tonnes (3)

 

(000)

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Cu%)

 
 

Tonnes (3)

 

(000)

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Cu%)

 
 

Tonnes (3)

 

(000)

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Cu%)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Metallurgical Recovery (3)

 
 

Red Chris, Canada (4)

 
 

 

 
 

70%

 
 

 

 
 

 
 

—%

 
 

 
 

335,100

 
 

0.34%

 
 

1,100

 
 

335,100

 
 

0.34%

 
 

1,100

 
 

62,100

 
 

0.4%

 
 

200

 
 

 

 
 

81%

 
 

Galore Creek, Canada (5)(12)

 
 

 

 
 

50%

 
 

 

 
 

212,800

 
 

0.44%

 
 

900

 
 

385,600

 
 

0.47%

 
 

1,800

 
 

598,400

 
 

0.46%

 
 

2,800

 
 

118,900

 
 

0.3%

 
 

300

 
 

 

 
 

93%

 
 

Conga, Peru (6)(12)

 
 

 

 
 

100%

 
 

 

 
 

 
 

—%

 
 

 
 

693,800

 
 

0.26%

 
 

1,800

 
 

693,800

 
 

0.26%

 
 

1,800

 
 

230,500

 
 

0.2%

 
 

400

 
 

 

 
 

84%

 
 

Yanacocha, Peru (7)

 
 

 

 
 

100%

 
 

 

 
 

1,500

 
 

1.02%

 
 

 
 

99,800

 
 

0.36%

 
 

400

 
 

101,300

 
 

0.37%

 
 

400

 
 

39,700

 
 

0.4%

 
 

100

 
 

 

 
 

81%

 
 

NuevaUnión, Chile (8)(12)

 
 

 

 
 

50%

 
 

 

 
 

164,300

 
 

0.19%

 
 

300

 
 

349,900

 
 

0.34%

 
 

1,200

 
 

514,100

 
 

0.30%

 
 

1,500

 
 

602,200

 
 

0.4%

 
 

2,300

 
 

 

 
 

89%

 
 

Norte Abierto, Chile (9)(12)

 
 

 

 
 

50%

 
 

 

 
 

57,600

 
 

0.24%

 
 

100

 
 

551,300

 
 

0.19%

 
 

1,100

 
 

608,900

 
 

0.20%

 
 

1,200

 
 

361,800

 
 

0.2%

 
 

700

 
 

 

 
 

90%

 
 

Boddington, Australia

 
 

 

 
 

100%

 
 

 

 
 

90,600

 
 

0.12%

 
 

100

 
 

154,100

 
 

0.11%

 
 

200

 
 

244,700

 
 

0.12%

 
 

300

 
 

3,500

 
 

0.1%

 
 

 
 

 

 
 

83%

 
 

Cadia Open Pit

 
 

 

 
 

100%

 
 

 

 
 

30,800

 
 

0.13%

 
 

 
 

 
 

—%

 
 

3,200

 
 

30,800

 
 

0.13%

 
 

3,200

 
 

11,000

 
 

0.5%

 
 

900

 
 

 

 
 

85%

 
 

Cadia Underground

 
 

 

 
 

100%

 
 

 

 
 

 
 

—%

 
 

 
 

1,245,100

 
 

0.25%

 
 

 
 

1,245,100

 
 

0.25%

 
 

 
 

549,400

 
 

0.2%

 
 

100

 
 

 

 
 

86%

 
 

Total Cadia, Australia

 
 

 

 
 

100%

 
 

 

 
 

30,800

 
 

0.13%

 
 

 
 

1,245,100

 
 

0.25%

 
 

3,200

 
 

1,275,900

 
 

0.25%

 
 

3,200

 
 

560,400

 
 

0.2%

 
 

1,000

 
 

 

 
 

86%

 
 

Namosi Open Pit

 
 

 

 
 

73.24%

 
 

 

 
 

 
 

—%

 
 

 
 

105,500

 
 

0.61%

 
 

600

 
 

105,500

 
 

0.61%

 
 

600

 
 

1,346,900

 
 

0.3%

 
 

4,300

 
 

 

 
 

84%

 
 

Namosi Underground

 
 

 

 
 

73.24%

 
 

 

 
 

 
 

—%

 
 

 
 

 
 

—%

 
 

 
 

 
 

—%

 
 

 
 

209,900

 
 

0.4%

 
 

900

 
 

 

 
 

92%

 
 

Total Namosi, Fiji (12)

 
 

 

 
 

73.24%

 
 

 

 
 

 
 

—%

 
 

 
 

105,500

 
 

0.61%

 
 

600

 
 

105,500

 
 

0.61%

 
 

600

 
 

1,556,800

 
 

0.3%

 
 

5,200

 
 

 

 
 

85%

 
 

Wafi-Golpu, Papua New Guinea (10)(12)

 
 

 

 
 

50%

 
 

 

 
 

 
 

—%

 
 

 
 

140,800

 
 

0.73%

 
 

1,000

 
 

140,800

 
 

0.73%

 
 

1,000

 
 

91,900

 
 

0.7%

 
 

600

 
 

 

 
 

95%

 
 

NGM, United States (11)(13)

 
 

 

 
 

38.5%

 
 

 

 
 

 
 

—%

 
 

 
 

113,700

 
 

0.17%

 
 

200

 
 

113,700

 
 

0.17%

 
 

200

 
 

11,100

 
 

0.2%

 
 

 
 

 

 
 

67%

 
 

  Total Copper  

 
 

 

 
 

 

 
 

 

 
 

  557,600  

 
 

  0.28%  

 
 

  1,600  

 
 

  4,174,600  

 
 

  0.30%  

 
 

  12,600  

 
 

  4,732,200  

 
 

  0.30%  

 
 

  14,100  

 
 

  3,638,800  

 
 

  0.3%  

 
 

  11,000  

 
 

 

 
 

  87%  

 
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
 

  Copper Resources at December 31, 2023 (1)(2)  

 
 

 

 
 

 

 
 

 

 
 

Measured Resources

 
 

 

 
 

Indicated Resources

 
 

 

 
 

Measured and Indicated Resources

 
 

 

 
 

Inferred Resources

 
 

 

 
 

 

 
 

Deposits/Districts

 
 

Newmont

 

Share

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Cu%)

 
 

Tonnes (3) (000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Cu%)

 
 

Tonnes (3) (000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Cu%)

 
 

Tonnes (3) (000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Cu%)

 
 

Tonnes (3) (000)

 
 

 

 
 

Metallurgical

 

Recovery (3)

 
 

Red Chris, Canada (14)

 
 

70%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

334,700

 
 

0.34%

 
 

1,100

 
 

 

 
 

334,700

 
 

0.34%

 
 

1,100

 
 

 

 
 

62,100

 
 

0.4%

 
 

200

 
 

 

 
 

81%

 
 

Galore Creek, Canada (5)(12)

 
 

50%

 
 

 

 
 

212,800

 
 

0.44%

 
 

900

 
 

 

 
 

385,600

 
 

0.47%

 
 

1,800

 
 

 

 
 

598,400

 
 

0.46%

 
 

2,800

 
 

 

 
 

118,900

 
 

0.3%

 
 

300

 
 

 

 
 

93%

 
 

Conga, Peru (12)

 
 

100%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

693,800

 
 

0.26%

 
 

1,800

 
 

 

 
 

693,800

 
 

0.26%

 
 

1,800

 
 

 

 
 

230,500

 
 

0.2%

 
 

400

 
 

 

 
 

84%

 
 

Yanacocha, Peru

 
 

100%

 
 

 

 
 

1,500

 
 

1.02%

 
 

 
 

 

 
 

99,800

 
 

0.36%

 
 

400

 
 

 

 
 

101,300

 
 

0.37%

 
 

400

 
 

 

 
 

39,700

 
 

0.4%

 
 

100

 
 

 

 
 

81%

 
 

NuevaUnión, Chile (8)(12)

 
 

50%

 
 

 

 
 

164,300

 
 

0.19%

 
 

300

 
 

 

 
 

349,900

 
 

0.34%

 
 

1,200

 
 

 

 
 

514,100

 
 

0.30%

 
 

1,500

 
 

 

 
 

602,200

 
 

0.4%

 
 

2,300

 
 

 

 
 

89%

 
 

Norte Abierto, Chile (9)(12)

 
 

50%

 
 

 

 
 

57,600

 
 

0.24%

 
 

100

 
 

 

 
 

551,300

 
 

0.19%

 
 

1,100

 
 

 

 
 

608,900

 
 

0.20%

 
 

1,200

 
 

 

 
 

361,800

 
 

0.2%

 
 

700

 
 

 

 
 

90%

 
 

Boddington, Australia

 
 

100%

 
 

 

 
 

98,200

 
 

0.11%

 
 

100

 
 

 

 
 

169,700

 
 

0.11%

 
 

200

 
 

 

 
 

267,900

 
 

0.11%

 
 

300

 
 

 

 
 

2,400

 
 

0.1%

 
 

 
 

 

 
 

82%

 
 

Cadia Underground

 
 

100%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

1,596,600

 
 

0.23%

 
 

3,700

 
 

 

 
 

1,596,600

 
 

0.23%

 
 

3,700

 
 

 

 
 

497,000

 
 

0.2%

 
 

900

 
 

 

 
 

85%

 
 

Cadia Open Pit

 
 

100%

 
 

 

 
 

30,900

 
 

0.13%

 
 

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

30,900

 
 

0.13%

 
 

 
 

 

 
 

11,000

 
 

0.5%

 
 

100

 
 

 

 
 

80%

 
 

Total Cadia, Australia (13)(14)

 
 

100%

 
 

 

 
 

30,900

 
 

0.13%

 
 

 
 

 

 
 

1,596,600

 
 

0.23%

 
 

3,700

 
 

 

 
 

1,627,500

 
 

0.23%

 
 

3,800

 
 

 

 
 

508,000

 
 

0.2%

 
 

900

 
 

 

 
 

85%

 
 

Telfer Open Pit

 
 

100%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

20,300

 
 

0.06%

 
 

 
 

 

 
 

20,300

 
 

0.06%

 
 

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

49%

 
 

Telfer Stockpiles

 
 

100%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

5,600

 
 

0.07%

 
 

 
 

 

 
 

5,600

 
 

0.07%

 
 

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

46%

 
 

Telfer Underground

 
 

100%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

1,700

 
 

0.56%

 
 

 
 

 

 
 

1,700

 
 

0.56%

 
 

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

94%

 
 

Total Telfer, Australia (14)(15)

 
 

100%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

27,600

 
 

0.09%

 
 

 
 

 

 
 

27,600

 
 

0.09%

 
 

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

65%

 
 

Havieron, Australia (14)(15)

 
 

70%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

33,200

 
 

0.34%

 
 

100

 
 

 

 
 

33,200

 
 

0.34%

 
 

100

 
 

 

 
 

11,400

 
 

0.2%

 
 

 
 

 

 
 

86%

 
 

Telfer Projects, Australia (14)(15)

 
 

100%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

51,700

 
 

0.29%

 
 

100

 
 

 

 
 

51,700

 
 

0.29%

 
 

100

 
 

 

 
 

1,900

 
 

0.3%

 
 

 
 

 

 
 

78%

 
 

Namosi Open Pit

 
 

73.24%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

105,500

 
 

0.61%

 
 

600

 
 

 

 
 

105,500

 
 

0.61%

 
 

600

 
 

 

 
 

1,346,900

 
 

0.3%

 
 

4,300

 
 

 

 
 

84%

 
 

Namosi Underground

 
 

73.24%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

209,900

 
 

0.4%

 
 

900

 
 

 

 
 

92%

 
 

Total Namosi, Fiji (12)(14)

 
 

73.24%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

105,500

 
 

0.61%

 
 

600

 
 

 

 
 

105,500

 
 

0.61%

 
 

600

 
 

 

 
 

1,556,800

 
 

0.3%

 
 

5,200

 
 

 

 
 

85%

 
 

Wafi-Golpu, Papua New Guinea (12)(14)

 
 

50%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

140,800

 
 

0.73%

 
 

1,000

 
 

 

 
 

140,800

 
 

0.73%

 
 

1,000

 
 

 

 
 

91,900

 
 

0.7%

 
 

600

 
 

 

 
 

95%

 
 

NGM, United States (11)

 
 

38.5%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

136,000

 
 

0.15%

 
 

200

 
 

 

 
 

136,000

 
 

0.15%

 
 

200

 
 

 

 
 

19,300

 
 

0.2%

 
 

 
 

 

 
 

65%

 
 

  Total Copper  

 
 

 

 
 

 

 
 

  565,300  

 
 

  0.28%  

 
 

  1,600  

 
 

 

 
 

  4,676,100  

 
 

  0.29%  

 
 

  13,500  

 
 

 

 
 

  5,241,400  

 
 

  0.29%  

 
 

  15,000  

 
 

 

 
 

  3,606,800  

 
 

  0.3%  

 
 

  10,900  

 
 

 

 
 

  88%  

 
 
                                             
 

  (1)

 
 

Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding.

 
 

  (2)

 
 

At December 31, 2024 and 2023, copper resources at sites in which Newmont is the operator were estimated at a copper price of $4.00 per pound, unless otherwise noted. Resources provided by other operators may use pricing that differs. Tonnage amounts have been rounded to the nearest 100,000.

 
 

  (3)

 
 

Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.

 
 

  (4)

 
 

Copper resources related to the underground mine at December 31, 2024 were estimated at a copper price of $3.40 per pound.

 
 

  (5)

 
 

Project is currently undeveloped. Resource estimates provided by Teck Resources.

 
 

  (6)

 
 

Copper resources at December 31, 2024 were estimated at a copper price of $3.50 per pound.

 
 

  (7)

 
 

Copper resources related to the undeveloped Yanacocha Sulfides project at December 31, 2024 were estimated at a copper price of $3.25 per pound.

 
 

  (8)

 
 

Project is currently undeveloped. Copper resources at December 31, 2024 and 2023 were estimated at a copper price of $3.00 per pound and were provided by the NuevaUnión joint venture.

 
 

  (9)

 
 

Project is currently undeveloped. Copper resources at December 31, 2024 and 2023 were estimated at a copper price of $3.25 per pound and were provided by the Norte Abierto joint venture.

 
 

  (10)

 
 

Copper resources related to the open pit mine at December 31, 2024 were estimated at a copper price of $3.40 per pound.

 
 

  (11)

 
 

Copper resources at December 31, 2024 and 2023 were provided by Barrick, the operator of the NGM joint venture.

 
 

  (12)

 
 

Currently included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.

 
 

  (13)

 
 

Amounts presented herein have been rounded to the nearest 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.

 
 

  (14)

 
 

Sites acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information. Copper resources at sites acquired through the Newcrest transaction were estimated at a copper price of $3.40 per pound at December 31, 2023, with the exception of Havieron, for which copper resources were estimated using Newmont's price assumptions, and certain legacy estimates, which have applied older, more conservative price assumptions.

 
 

  (15)

 
 

In the fourth quarter of 2024, the Company completed the sale of the assets of the Telfer reportable segment, which includes the Havieron development project. Refer to Note 3 to the Consolidated Financial Statements for further information.

 
 
                                                                                                                                                                                                                                                                                                                                                                                                                                
 

  Silver Reserves (1)  

 
 

  December 31, 2024  

 
 

 

 
 

  December 31, 2023  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Proven Reserves

 
 

 

 
 

Probable Reserves

 
 

 

 
 

Proven and Probable Reserves

 
 

 

 
 

 

 
 

 

 
 

Proven and Probable Reserves

 
 

Deposits/Districts

 
 

 

 
 

Newmont Share

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Metallurgical Recovery (3)

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

Brucejack, Canada (15)

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

8,600

 
 

34.36

 
 

9,500

 
 

 

 
 

8,600

 
 

34.36

 
 

9,500

 
 

 

 
 

83%

 
 

 

 
 

11,500

 
 

34.71

 
 

12,800

 
 

Peñasquito Open Pits

 
 

 

 
 

100%

 
 

 

 
 

93,900

 
 

34.68

 
 

104,700

 
 

 

 
 

130,800

 
 

28.52

 
 

119,900

 
 

 

 
 

224,700

 
 

31.09

 
 

224,600

 
 

 

 
 

83%

 
 

 

 
 

264,500

 
 

33.84

 
 

287,800

 
 

Peñasquito Stockpiles (4)

 
 

 

 
 

100%

 
 

 

 
 

4,700

 
 

25.38

 
 

3,800

 
 

 

 
 

27,300

 
 

28.32

 
 

24,800

 
 

 

 
 

32,000

 
 

27.89

 
 

28,700

 
 

 

 
 

73%

 
 

 

 
 

26,500

 
 

29.18

 
 

24,900

 
 

Total Peñasquito, Mexico (5)(14)

 
 

 

 
 

100%

 
 

 

 
 

98,600

 
 

34.24

 
 

108,500

 
 

 

 
 

158,100

 
 

28.49

 
 

144,800

 
 

 

 
 

256,600

 
 

30.70

 
 

253,300

 
 

 

 
 

82%

 
 

 

 
 

291,000

 
 

33.42

 
 

312,600

 
 

Cerro Negro, Argentina

 
 

 

 
 

100%

 
 

 

 
 

2,200

 
 

89.85

 
 

6,400

 
 

 

 
 

7,100

 
 

65.87

 
 

15,000

 
 

 

 
 

9,300

 
 

71.58

 
 

21,400

 
 

 

 
 

75%

 
 

 

 
 

9,200

 
 

72.58

 
 

21,500

 
 

Yanacocha Open Pits and Underground

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

93,400

 
 

19.89

 
 

59,800

 
 

 

 
 

93,400

 
 

19.89

 
 

59,800

 
 

 

 
 

54%

 
 

 

 
 

93,400

 
 

19.89

 
 

59,800

 
 

Yanacocha Stockpiles and Leach Pads (4)(6)

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

78,900

 
 

9.33

 
 

23,600

 
 

 

 
 

78,900

 
 

9.33

 
 

23,600

 
 

 

 
 

13%

 
 

 

 
 

86,000

 
 

9.07

 
 

25,100

 
 

Total Yanacocha, Peru (7)

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

172,300

 
 

15.05

 
 

83,400

 
 

 

 
 

172,300

 
 

15.05

 
 

83,400

 
 

 

 
 

43%

 
 

 

 
 

179,500

 
 

14.70

 
 

84,800

 
 

Pueblo Viejo Open Pits

 
 

 

 
 

40%

 
 

 

 
 

32,200

 
 

12.44

 
 

12,900

 
 

 

 
 

49,500

 
 

11.49

 
 

18,300

 
 

 

 
 

81,700

 
 

11.86

 
 

31,200

 
 

 

 
 

71%

 
 

 

 
 

76,600

 
 

12.59

 
 

31,000

 
 

Pueblo Viejo Stockpiles (4)

 
 

 

 
 

40%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

38,800

 
 

14.22

 
 

17,700

 
 

 

 
 

38,800

 
 

14.22

 
 

17,700

 
 

 

 
 

71%

 
 

 

 
 

39,700

 
 

14.48

 
 

18,500

 
 

Total Pueblo Viejo, Dominican Republic (8)(13)

 
 

 

 
 

40%

 
 

 

 
 

32,200

 
 

12.44

 
 

12,900

 
 

 

 
 

88,300

 
 

12.69

 
 

36,000

 
 

 

 
 

120,500

 
 

12.62

 
 

48,900

 
 

 

 
 

71%

 
 

 

 
 

116,300

 
 

13.24

 
 

49,500

 
 

NuevaUnión, Chile (9)(13)

 
 

 

 
 

50%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

1,118,000

 
 

1.31

 
 

47,200

 
 

 

 
 

1,118,000

 
 

1.31

 
 

47,200

 
 

 

 
 

66%

 
 

 

 
 

1,118,000

 
 

1.31

 
 

47,200

 
 

Norte Abierto, Chile (10)(13)

 
 

 

 
 

50%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

598,800

 
 

1.52

 
 

29,300

 
 

 

 
 

598,800

 
 

1.52

 
 

29,300

 
 

 

 
 

74%

 
 

 

 
 

598,800

 
 

1.52

 
 

29,300

 
 

Cadia, Australia (11)(14)(15)

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

1,051,800

 
 

0.67

 
 

22,800

 
 

 

 
 

1,051,800

 
 

0.67

 
 

22,800

 
 

 

 
 

68%

 
 

 

 
 

1,102,300

 
 

0.68

 
 

24,000

 
 

NGM Open Pit

 
 

 

 
 

38.5%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

54,600

 
 

7.78

 
 

13,700

 
 

 

 
 

54,600

 
 

7.78

 
 

13,700

 
 

 

 
 

38%

 
 

 

 
 

60,800

 
 

6.93

 
 

13,600

 
 

NGM Stockpiles (4)

 
 

 

 
 

38.5%

 
 

 

 
 

3,200

 
 

7.87

 
 

800

 
 

 

 
 

 
 

 
 

 
 

 

 
 

3,200

 
 

7.87

 
 

800

 
 

 

 
 

38%

 
 

 

 
 

2,400

 
 

7.97

 
 

600

 
 

Total NGM, United States (12)(14)

 
 

 

 
 

38.5%

 
 

 

 
 

3,200

 
 

7.87

 
 

800

 
 

 

 
 

54,600

 
 

7.78

 
 

13,700

 
 

 

 
 

57,900

 
 

7.78

 
 

14,500

 
 

 

 
 

38%

 
 

 

 
 

63,200

 
 

6.97

 
 

14,200

 
 

  Total Silver  

 
 

 

 
 

 

 
 

 

 
 

  136,200  

 
 

  29.37  

 
 

  128,600  

 
 

 

 
 

  3,257,700  

 
 

  3.83  

 
 

  401,600  

 
 

 

 
 

  3,393,800  

 
 

  4.86  

 
 

  530,200  

 
 

 

 
 

  71%  

 
 

 

 
 

  3,489,800  

 
 

  5.31  

 
 

  596,000  

 
 
                                             
 

  (1)

 
 

At December 31, 2024 and 2023, silver reserves at sites for which Newmont is the operator 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.

 
 

  (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.

 
 

  (4)

 
 

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.

 
 

  (5)

 
 

The net smelter return value utilized in 2024 reserves not less than $14.10 per tonne.

 
 

  (6)

 
 

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.

 
 

  (7)

 
 

Silver reserves related to the undeveloped Yanacocha Sulfides project at December 31, 2024 were estimated at a silver price of $20.00 per ounce.

 
 

  (8)

 
 

The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Silver reserves at December 31, 2024 were estimated at a gold price of $20.00 per ounce. Silver reserves at December 31, 2024 and 2023 were provided by Barrick, the operator of Pueblo Viejo.

 
 

  (9)

 
 

Project is currently undeveloped. Silver reserves at December 31, 2024 and 2023 were estimated at a silver price of $18.00 per ounce and were provided by the NuevaUnión joint venture.

 
 

  (10)

 
 

Project is currently undeveloped. Silver reserves at December 31, 2024 and 2023 were estimated at a silver price of $22.00 per ounce and were provided by the Norte Abierto joint venture.

 
 

  (11)

 
 

The net smelter return value utilized in 2024 reserves not less than $21.70 per tonne.

 
 

  (12)

 
 

Silver cut-off grade varies with gold and copper credits. Silver reserves at December 31, 2024 were estimated at a silver price of $24.00 per ounce. Silver reserves at December 31, 2024 and 2023 were provided by Barrick, the operator of the NGM joint venture.

 
 

  (13)

 
 

Currently included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.

 
 

  (14)

 
 

Amounts presented herein have been rounded to the nearest 100,000 for ounces and tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.

 
 

  (15)

 
 

Sites acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information. Silver reserves at sites acquired through the Newcrest transaction were estimated at a silver price of $18.00 per ounce at December 31, 2023.

 
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
 

  Silver Resources (1)(2) - December 31, 2024  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Measured Resource

 
 

 

 
 

Indicated Resource

 
 

 

 
 

Measured and Indicated Resource

 
 

 

 
 

Inferred Resource

 
 

 

 
 

 

 
 

Deposits/Districts

 
 

 

 
 

Newmont

 

Share

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Metallurgical Recovery (3)

 
 

Brucejack, Canada

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

4,300

 
 

19.68

 
 

2,700

 
 

 

 
 

4,300

 
 

19.68

 
 

2,700

 
 

 

 
 

16,600

 
 

11.6

 
 

6,200

 
 

 

 
 

82%

 
 

Galore Creek, Canada (4)(12)

 
 

 

 
 

50%

 
 

 

 
 

212,800

 
 

4.08

 
 

27,900

 
 

 

 
 

385,600

 
 

4.77

 
 

59,100

 
 

 

 
 

598,400

 
 

4.52

 
 

87,000

 
 

 

 
 

118,900

 
 

2.6

 
 

9,900

 
 

 

 
 

73%

 
 

Peñasquito, Mexico

 
 

 

 
 

100%

 
 

 

 
 

48,200

 
 

27.22

 
 

42,200

 
 

 

 
 

163,100

 
 

24.84

 
 

130,300

 
 

 

 
 

211,300

 
 

25.39

 
 

172,400

 
 

 

 
 

21,100

 
 

25.4

 
 

17,200

 
 

 

 
 

80%

 
 

Noche Buena, Mexico (12)

 
 

 

 
 

50%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

19,900

 
 

13.99

 
 

9,000

 
 

 

 
 

19,900

 
 

13.99

 
 

9,000

 
 

 

 
 

1,600

 
 

11.0

 
 

500

 
 

 

 
 

25%

 
 

Cerro Negro Underground

 
 

 

 
 

100%

 
 

 

 
 

100

 
 

70.12

 
 

300

 
 

 

 
 

700

 
 

61.42

 
 

1,400

 
 

 

 
 

900

 
 

62.67

 
 

1,700

 
 

 

 
 

7,300

 
 

26.5

 
 

6,200

 
 

 

 
 

76%

 
 

Cerro Negro Open Pit

 
 

 

 
 

100%

 
 

 

 
 

1,200

 
 

6.76

 
 

300

 
 

 

 
 

1,200

 
 

6.62

 
 

300

 
 

 

 
 

2,400

 
 

6.70

 
 

500

 
 

 

 
 

300

 
 

6.7

 
 

100

 
 

 

 
 

71%

 
 

Total Cerro Negro, Argentina

 
 

 

 
 

100%

 
 

 

 
 

1,300

 
 

12.61

 
 

500

 
 

 

 
 

1,900

 
 

27.54

 
 

1,700

 
 

 

 
 

3,200

 
 

21.43

 
 

2,200

 
 

 

 
 

7,600

 
 

25.7

 
 

6,300

 
 

 

 
 

75%

 
 

Conga, Peru (5)(12)

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

693,800

 
 

2.06

 
 

45,900

 
 

 

 
 

693,800

 
 

2.06

 
 

45,900

 
 

 

 
 

175,000

 
 

1.1

 
 

6,300

 
 

 

 
 

70%

 
 

Yanacocha Open Pit

 
 

 

 
 

100%

 
 

 

 
 

16,300

 
 

6.71

 
 

3,500

 
 

 

 
 

103,900

 
 

10.16

 
 

33,900

 
 

 

 
 

120,200

 
 

9.69

 
 

37,400

 
 

 

 
 

26,300

 
 

13.4

 
 

11,400

 
 

 

 
 

43%

 
 

Yanacocha Leach Pad (6)

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

 
 

 
 

 
 

 

 
 

 
 

 
 

 
 

 

 
 

62,700

 
 

2.2

 
 

4,500

 
 

 

 
 

4%

 
 

Yanacocha Underground

 
 

 

 
 

100%

 
 

 

 
 

500

 
 

0.37

 
 

 
 

 

 
 

6,200

 
 

37.02

 
 

7,300

 
 

 

 
 

6,700

 
 

34.23

 
 

7,400

 
 

 

 
 

3,400

 
 

40.4

 
 

4,400

 
 

 

 
 

83%

 
 

Total Yanacocha, Peru (7)

 
 

 

 
 

100%

 
 

 

 
 

16,800

 
 

6.52

 
 

3,500

 
 

 

 
 

110,100

 
 

11.66

 
 

41,300

 
 

 

 
 

126,900

 
 

10.98

 
 

44,800

 
 

 

 
 

92,400

 
 

6.8

 
 

20,300

 
 

 

 
 

47%

 
 

Pueblo Viejo, Dominican Republic (8)(12)

 
 

 

 
 

40%

 
 

 

 
 

8,200

 
 

7.69

 
 

2,000

 
 

 

 
 

38,200

 
 

7.82

 
 

9,600

 
 

 

 
 

46,400

 
 

7.80

 
 

11,600

 
 

 

 
 

5,000

 
 

6.8

 
 

1,100

 
 

 

 
 

71%

 
 

NuevaUnión, Chile (9)(12)

 
 

 

 
 

50%

 
 

 

 
 

164,300

 
 

0.96

 
 

5,100

 
 

 

 
 

349,900

 
 

1.19

 
 

13,400

 
 

 

 
 

514,100

 
 

1.12

 
 

18,400

 
 

 

 
 

602,200

 
 

1.2

 
 

22,500

 
 

 

 
 

66%

 
 

Norte Abierto, Chile (10)(12)

 
 

 

 
 

50%

 
 

 

 
 

77,200

 
 

1.20

 
 

3,000

 
 

 

 
 

596,900

 
 

1.07

 
 

20,600

 
 

 

 
 

674,200

 
 

1.09

 
 

23,500

 
 

 

 
 

369,600

 
 

1.0

 
 

11,300

 
 

 

 
 

78%

 
 

Cadia, Australia

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

1,245,100

 
 

0.65

 
 

26,100

 
 

 

 
 

1,245,100

 
 

0.65

 
 

26,100

 
 

 

 
 

549,400

 
 

0.4

 
 

7,900

 
 

 

 
 

67%

 
 

Wafi-Golpu, Papua New Guinea (12)

 
 

 

 
 

50%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

53,600

 
 

4.42

 
 

7,600

 
 

 

 
 

53,600

 
 

4.42

 
 

7,600

 
 

 

 
 

15,500

 
 

4.5

 
 

2,200

 
 

 

 
 

45%

 
 

NGM Open Pit

 
 

 

 
 

38.5%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

98,300

 
 

5.64

 
 

17,800

 
 

 

 
 

98,300

 
 

5.64

 
 

17,800

 
 

 

 
 

9,400

 
 

4.2

 
 

1,300

 
 

 

 
 

38%

 
 

NGM Stockpiles

 
 

 

 
 

38.5%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

 
 

 
 

 
 

 

 
 

 
 

 
 

 
 

 

 
 

900

 
 

4.6

 
 

100

 
 

 

 
 

38%

 
 

NGM, United States (11)(13)

 
 

 

 
 

38.5%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

98,300

 
 

5.64

 
 

17,800

 
 

 

 
 

98,300

 
 

5.64

 
 

17,800

 
 

 

 
 

10,300

 
 

4.2

 
 

1,400

 
 

 

 
 

38%

 
 

  Total Silver  

 
 

 

 
 

 

 
 

 

 
 

  528,900  

 
 

  4.96  

 
 

  84,300  

 
 

 

 
 

  3,760,700  

 
 

  3.18  

 
 

  385,000  

 
 

 

 
 

  4,289,600  

 
 

  3.40  

 
 

  469,200  

 
 

 

 
 

  1,985,100  

 
 

  1.8  

 
 

  113,200  

 
 

 

 
 

  69%  

 
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
 

  Silver Resources (1)(2) - December 31, 2023  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Measured Resource

 
 

 

 
 

Indicated Resource

 
 

 

 
 

Measured and Indicated Resource

 
 

 

 
 

Inferred Resource

 
 

 

 
 

 

 
 

Deposits/Districts

 
 

 

 
 

Newmont

 

Share

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(g/tonne)

 
 

Ounces (3)

 

(000)

 
 

 

 
 

Metallurgical Recovery (3)

 
 

Brucejack, Canada (14)

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

1,800

 
 

8.09

 
 

500

 
 

 

 
 

1,800

 
 

8.09

 
 

500

 
 

 

 
 

12,100

 
 

10.0

 
 

3,900

 
 

 

 
 

85%

 
 

Galore Creek, Canada (4)(12)

 
 

 

 
 

50%

 
 

 

 
 

212,800

 
 

4.08

 
 

27,900

 
 

 

 
 

385,600

 
 

4.77

 
 

59,100

 
 

 

 
 

598,400

 
 

4.52

 
 

87,000

 
 

 

 
 

118,900

 
 

2.6

 
 

9,900

 
 

 

 
 

73%

 
 

Peñasquito, Mexico (13)

 
 

 

 
 

100%

 
 

 

 
 

37,400

 
 

24.48

 
 

29,400

 
 

 

 
 

157,300

 
 

25.12

 
 

127,100

 
 

 

 
 

194,700

 
 

25.00

 
 

156,500

 
 

 

 
 

22,800

 
 

25.4

 
 

18,700

 
 

 

 
 

79%

 
 

Noche Buena, Mexico (12)

 
 

 

 
 

50%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

19,900

 
 

13.99

 
 

9,000

 
 

 

 
 

19,900

 
 

13.99

 
 

9,000

 
 

 

 
 

1,600

 
 

11.0

 
 

500

 
 

 

 
 

25%

 
 

Cerro Negro Underground

 
 

 

 
 

100%

 
 

 

 
 

100

 
 

61.50

 
 

200

 
 

 

 
 

900

 
 

60.12

 
 

1,800

 
 

 

 
 

1,000

 
 

60.28

 
 

2,000

 
 

 

 
 

5,900

 
 

27.5

 
 

5,200

 
 

 

 
 

75%

 
 

Cerro Negro Open Pit

 
 

 

 
 

100%

 
 

 

 
 

1,200

 
 

6.77

 
 

300

 
 

 

 
 

1,200

 
 

6.63

 
 

300

 
 

 

 
 

2,400

 
 

6.70

 
 

500

 
 

 

 
 

300

 
 

6.7

 
 

100

 
 

 

 
 

71%

 
 

Total Cerro Negro, Argentina

 
 

 

 
 

100%

 
 

 

 
 

1,300

 
 

11.71

 
 

500

 
 

 

 
 

2,100

 
 

30.02

 
 

2,000

 
 

 

 
 

3,400

 
 

22.95

 
 

2,500

 
 

 

 
 

6,200

 
 

26.4

 
 

5,300

 
 

 

 
 

75%

 
 

Conga, Peru (12)

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

693,800

 
 

2.06

 
 

45,900

 
 

 

 
 

693,800

 
 

2.06

 
 

45,900

 
 

 

 
 

175,000

 
 

1.1

 
 

6,300

 
 

 

 
 

70%

 
 

Yanacocha Open Pit

 
 

 

 
 

100%

 
 

 

 
 

16,100

 
 

6.76

 
 

3,500

 
 

 

 
 

105,200

 
 

10.43

 
 

35,300

 
 

 

 
 

121,300

 
 

9.94

 
 

38,800

 
 

 

 
 

26,400

 
 

13.5

 
 

11,500

 
 

 

 
 

44%

 
 

Yanacocha Underground

 
 

 

 
 

100%

 
 

 

 
 

500

 
 

0.37

 
 

 
 

 

 
 

6,200

 
 

37.02

 
 

7,300

 
 

 

 
 

6,700

 
 

34.23

 
 

7,400

 
 

 

 
 

3,400

 
 

40.4

 
 

4,400

 
 

 

 
 

83%

 
 

Total Yanacocha, Peru

 
 

 

 
 

100%

 
 

 

 
 

16,600

 
 

6.57

 
 

3,500

 
 

 

 
 

111,300

 
 

11.91

 
 

42,600

 
 

 

 
 

128,000

 
 

11.21

 
 

46,100

 
 

 

 
 

29,800

 
 

16.6

 
 

15,900

 
 

 

 
 

51%

 
 

Pueblo Viejo, Dominican Republic (8)(12)

 
 

 

 
 

40%

 
 

 

 
 

7,300

 
 

7.96

 
 

1,900

 
 

 

 
 

37,300

 
 

8.04

 
 

9,600

 
 

 

 
 

44,600

 
 

8.02

 
 

11,500

 
 

 

 
 

3,200

 
 

8.1

 
 

800

 
 

 

 
 

74%

 
 

NuevaUnión, Chile (9)(12)

 
 

 

 
 

50%

 
 

 

 
 

164,300

 
 

0.96

 
 

5,100

 
 

 

 
 

349,900

 
 

1.19

 
 

13,400

 
 

 

 
 

514,100

 
 

1.12

 
 

18,400

 
 

 

 
 

602,200

 
 

1.2

 
 

22,500

 
 

 

 
 

66%

 
 

Norte Abierto, Chile (10)(12)

 
 

 

 
 

50%

 
 

 

 
 

77,200

 
 

1.20

 
 

3,000

 
 

 

 
 

596,900

 
 

1.07

 
 

20,600

 
 

 

 
 

674,200

 
 

1.09

 
 

23,500

 
 

 

 
 

369,600

 
 

1.0

 
 

11,300

 
 

 

 
 

78%

 
 

Cadia, Australia (13)(14)

 
 

 

 
 

100%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

1,596,600

 
 

0.61

 
 

31,300

 
 

 

 
 

1,596,600

 
 

0.61

 
 

31,300

 
 

 

 
 

497,000

 
 

0.5

 
 

7,500

 
 

 

 
 

65%

 
 

Wafi-Golpu, Papua New Guinea (12)(14)

 
 

 

 
 

50%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

53,600

 
 

4.42

 
 

7,600

 
 

 

 
 

53,600

 
 

4.42

 
 

7,600

 
 

 

 
 

15,500

 
 

4.5

 
 

2,200

 
 

 

 
 

45%

 
 

NGM Open Pit

 
 

 

 
 

38.5%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

93,000

 
 

5.59

 
 

16,700

 
 

 

 
 

93,000

 
 

5.59

 
 

16,700

 
 

 

 
 

16,700

 
 

5.4

 
 

2,900

 
 

 

 
 

38%

 
 

NGM Stockpiles

 
 

 

 
 

38.5%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

 
 

 
 

 
 

 

 
 

 
 

 
 

 
 

 

 
 

1,800

 
 

5.6

 
 

300

 
 

 

 
 

38%

 
 

NGM, United States (11)

 
 

 

 
 

38.5%

 
 

 

 
 

 
 

 
 

 
 

 

 
 

93,000

 
 

5.59

 
 

16,700

 
 

 

 
 

93,000

 
 

5.59

 
 

16,700

 
 

 

 
 

18,400

 
 

5.4

 
 

3,200

 
 

 

 
 

38%

 
 

  Total Silver  

 
 

 

 
 

 

 
 

 

 
 

  516,900  

 
 

  4.29  

 
 

  71,300  

 
 

 

 
 

  4,099,200  

 
 

  2.92  

 
 

  385,400  

 
 

 

 
 

  4,616,200  

 
 

  3.08  

 
 

  456,700  

 
 

 

 
 

  1,872,300  

 
 

  1.8  

 
 

  108,100  

 
 

 

 
 

  68%  

 
 
                                          
 

  (1)

 
 

Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding.

 
 

  (2)

 
 

At December 31, 2024 and 2023, silver resources at sites in which Newmont is the operator were estimated at a silver price of $23.00 per ounce, 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.

 
 

  (4)

 
 

Project is currently undeveloped. Resource estimates provided by Teck Resources.

 
 

  (5)

 
 

Silver resources at December 31, 2024 were estimated at a silver price of $26.00 per ounce.

 
 

  (6)

 
 

Leach pad material is the material on leach pads at the end of the year from which silver remains to be recovered. In-process resources are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported resources.

 
 

  (7)

 
 

Silver resources related to the undeveloped Yanacocha Sulfides project at December 31, 2024 were estimated at a silver price of $23.00 per ounce.

 
 

  (8)

 
 

Silver resources at December 31, 2024 were estimated at a silver price of $24.00 per ounce. Silver resources at December 31, 2024 and 2023 were provided by Barrick, the operator of the Pueblo Viejo.

 
 

  (9)

 
 

Project is currently undeveloped. Silver resources at December 31, 2024 and 2023 were estimated at a silver price of $18.00 per ounce and were provided by the NuevaUnión joint venture.

 
 

  (10)

 
 

Project is currently undeveloped. Silver resources at December 31, 2024 and 2023 were estimated at a silver price of $20.00 per ounce and were provided by the Norte Abierto joint venture.

 
 

  (11)

 
 

Silver resources at December 31, 2024 and 2023 were estimated at a silver price of $24.00 per ounce. Silver resources at December 31, 2024 and 2023 were provided by Barrick, the operator of the NGM joint venture.

 
 

  (12)

 
 

Currently included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.

 
 

  (13)

 
 

Amounts presented herein have been rounded to the nearest 100,000 for ounces and tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.

 
 

  (14)

 
 

Sites acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information. Silver resources at sites acquired through the Newcrest transaction were estimated at a silver price of $21.00 per ounce at December 31, 2023, with the exception of certain legacy estimates, which have applied older, more conservative price assumptions.

 
 
                                                                                                     
 

  Lead Reserves (1)  

 
 

  December 31, 2024  

 
 

 

 
 

  December 31, 2023  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Proven Reserves

 
 

 

 
 

Probable Reserves

 
 

 

 
 

Proven and Probable Reserves

 
 

 

 
 

 

 
 

 

 
 

Proven and Probable Reserves

 
 

Deposits/Districts

 
 

 

 
 

Newmont

 

Share

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(Pb %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(Pb %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(Pb %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Metallurgical Recovery (3)

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(Pb %)

 
 

Tonnes (3)

 

(000)

 
 

Peñasquito Open Pits, Mexico (4)(6)

 
 

 

 
 

100%

 
 

 

 
 

93,900

 
 

0.35%

 
 

300

 
 

 

 
 

130,800

 
 

0.27%

 
 

400

 
 

 

 
 

224,700

 
 

0.30%

 
 

700

 
 

 

 
 

75%

 
 

 

 
 

264,500

 
 

0.32%

 
 

900

 
 

Peñasquito Stockpiles, Mexico (4)(5)(6)

 
 

 

 
 

100%

 
 

 

 
 

4,700

 
 

0.28%

 
 

 
 

 

 
 

27,300

 
 

0.37%

 
 

100

 
 

 

 
 

32,000

 
 

0.36%

 
 

100

 
 

 

 
 

68%

 
 

 

 
 

26,500

 
 

0.37%

 
 

100

 
 

  Total Lead  

 
 

 

 
 

 

 
 

 

 
 

  98,600  

 
 

  0.35%  

 
 

  300  

 
 

 

 
 

  158,100  

 
 

  0.29%  

 
 

  500  

 
 

 

 
 

  256,600  

 
 

  0.31%  

 
 

  800  

 
 

 

 
 

  74%  

 
 

 

 
 

  291,000  

 
 

  0.33%  

 
 

  900  

 
 
                  
 

  (1)

 
 

At December 31, 2024 and 2023, lead reserves were estimated at a lead price of $0.90 and $1.00 per pound, respectively. 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.

 
 

  (3)

 
 

Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.

 
 

  (4)

 
 

The net smelter return value utilized in 2024 reserves not less than $14.10 per tonne.

 
 

  (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.

 
 

  (6)

 
 

Amounts presented herein have been rounded to the nearest 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.

 
 
                                                                         
 

  Lead Resources (1)(2) - December 31, 2024  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Measured Resource

 
 

 

 
 

Indicated Resource

 
 

 

 
 

Measured and Indicated Resource

 
 

Inferred Resource

 
 

 

 
 

 

 
 

Deposits/Districts

 
 

 

 
 

Newmont

 

Share

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Pb %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Pb %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Pb %)

 
 

Tonnes (3)

 

(000)

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Pb %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Metallurgical Recovery (3)

 
 

Peñasquito, Mexico

 
 

 

 
 

100%

 
 

 

 
 

48,200

 
 

0.25%

 
 

100

 
 

 

 
 

163,100

 
 

0.23%

 
 

400

 
 

 

 
 

211,300

 
 

0.23%

 
 

500

 
 

21,100

 
 

0.2%

 
 

 
 

 

 
 

73%

 
 

  Total Lead  

 
 

 

 
 

 

 
 

 

 
 

  48,200  

 
 

  0.25%  

 
 

  100  

 
 

 

 
 

  163,100  

 
 

  0.23%  

 
 

  400  

 
 

 

 
 

  211,300  

 
 

  0.23%  

 
 

  500  

 
 

  21,100  

 
 

  0.2%  

 
 

  

 
 

 

 
 

  73%  

 
 
                                                                                             
 

  Lead Resources (1)(2) - December 31, 2023  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Measured Resource

 
 

 

 
 

Indicated Resource

 
 

 

 
 

Measured and Indicated Resource

 
 

Inferred Resource

 
 

 

 
 

 

 
 

Deposits/Districts

 
 

 

 
 

Newmont

 

Share

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Pb %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Pb %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Pb %)

 
 

Tonnes (3)

 

(000)

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Pb %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Metallurgical Recovery (3)

 
 

Peñasquito, Mexico (4)

 
 

 

 
 

100%

 
 

 

 
 

37,400

 
 

0.28%

 
 

100

 
 

 

 
 

157,300

 
 

0.24%

 
 

400

 
 

 

 
 

194,700

 
 

0.24%

 
 

500

 
 

22,800

 
 

0.2%

 
 

100

 
 

 

 
 

72%

 
 

Telfer Projects, Australia (5)(6)

 
 

 

 
 

100%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

51,700

 
 

0.30%

 
 

200

 
 

 

 
 

51,700

 
 

0.30%

 
 

200

 
 

1,900

 
 

0.2%

 
 

 
 

 

 
 

89%

 
 

  Total Lead  

 
 

 

 
 

 

 
 

 

 
 

  37,400  

 
 

  0.28%  

 
 

  100  

 
 

 

 
 

  209,100  

 
 

  0.25%  

 
 

  500  

 
 

 

 
 

  246,500  

 
 

  0.26%  

 
 

  600  

 
 

  24,700  

 
 

  0.2%  

 
 

  100  

 
 

 

 
 

  76%  

 
 
                  
 

  (1)

 
 

Resources are reported exclusive of reserves.

 
 

  (2)

 
 

At December 31, 2024 and 2023, lead resources were estimated at a lead price of $1.00 and $1.20 per pound, respectively. Tonnage amounts have been rounded to the nearest 100,000.

 
 

  (3)

 
 

Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.

 
 

  (4)

 
 

Amounts presented herein have been rounded to the nearest 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.

 
 

  (5)

 
 

Site acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information. Lead resources at sites acquired through the Newcrest transaction were estimated at a lead price of $1.07 per pound at December 31, 2023.

 
 

  (6)

 
 

In the fourth quarter of 2024, the Company completed the sale of the assets of the Telfer reportable segment, which includes the Havieron development project. Refer to Note 3 to the Consolidated Financial Statements for further information.

 
 
                                                                                                     
 

  Zinc Reserves (1)  

 
 

  December 31, 2024  

 
 

 

 
 

  December 31, 2023  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Proven Reserves

 
 

 

 
 

Probable Reserves

 
 

 

 
 

Proven and Probable Reserves

 
 

 

 
 

 

 
 

 

 
 

Proven and Probable Reserves

 
 

Deposits/Districts

 
 

 

 
 

Newmont

 

Share

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(Zn %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(Zn %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(Zn %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Metallurgical

 

Recovery (3)

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(Zn %)

 
 

Tonnes (3)

 

(000)

 
 

Peñasquito Open Pits, Mexico (4)(6)

 
 

 

 
 

100%

 
 

 

 
 

93,900

 
 

0.81%

 
 

800

 
 

 

 
 

130,800

 
 

0.60%

 
 

800

 
 

 

 
 

224,700

 
 

0.69%

 
 

1,500

 
 

 

 
 

83%

 
 

 

 
 

264,500

 
 

0.79%

 
 

2,100

 
 

Peñasquito Stockpiles, Mexico (4)(5)(6)

 
 

 

 
 

100%

 
 

 

 
 

4,700

 
 

0.80%

 
 

 
 

 

 
 

27,300

 
 

0.54%

 
 

100

 
 

 

 
 

32,000

 
 

0.58%

 
 

200

 
 

 

 
 

75%

 
 

 

 
 

26,500

 
 

0.53%

 
 

100

 
 

  Total Zinc  

 
 

 

 
 

 

 
 

 

 
 

  98,600  

 
 

  0.81%  

 
 

  800  

 
 

 

 
 

  158,100  

 
 

  0.59%  

 
 

  900  

 
 

 

 
 

  256,600  

 
 

  0.68%  

 
 

  1,700  

 
 

 

 
 

  82%  

 
 

 

 
 

  291,000  

 
 

  0.77%  

 
 

  2,200  

 
 
                  
 

  (1)

 
 

At December 31, 2024 and 2023, zinc reserves 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.

 
 

  (3)

 
 

Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.

 
 

  (4)

 
 

The net smelter return value utilized in 2024 reserves not less than $14.10 per tonne.

 
 

  (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.

 
 

  (6)

 
 

Amounts presented herein have been rounded to the nearest 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.

 
 
                                                                     
 

  Zinc Resources (1)(2) - December 31, 2024  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Measured Resource

 
 

 

 
 

Indicated Resource

 
 

Measured and Indicated Resource

 
 

Inferred Resource

 
 

 

 
 

 

 
 

Deposits/Districts

 
 

 

 
 

Newmont

 

Share

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Zn %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Zn %)

 
 

Tonnes (3)

 

(000)

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Zn %)

 
 

Tonnes (3)

 

(000)

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Zn %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Metallurgical Recovery (3)

 
 

Peñasquito, Mexico

 
 

 

 
 

100%

 
 

 

 
 

48,200

 
 

0.69%

 
 

300

 
 

 

 
 

163,100

 
 

0.55%

 
 

900

 
 

211,300

 
 

0.59%

 
 

1,200

 
 

21,100

 
 

0.6%

 
 

100

 
 

 

 
 

81%

 
 

  Total Zinc  

 
 

 

 
 

 

 
 

 

 
 

  48,200  

 
 

  0.69%  

 
 

  300  

 
 

 

 
 

  163,100  

 
 

  0.55%  

 
 

  900  

 
 

  211,300  

 
 

  0.59%  

 
 

  1,200  

 
 

  21,100  

 
 

  0.6%  

 
 

  100  

 
 

 

 
 

  81%  

 
 
                                                                                        
 

  Zinc Resources (1)(2) - December 31, 2023  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Measured Resource

 
 

 

 
 

Indicated Resource

 
 

Measured and Indicated Resource

 
 

Inferred Resource

 
 

 

 
 

 

 
 

Deposits/Districts

 
 

 

 
 

Newmont

 

Share

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Zn %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Zn %)

 
 

Tonnes (3)

 

(000)

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Zn %)

 
 

Tonnes (3)

 

(000)

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Zn %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Metallurgical Recovery (3)

 
 

Peñasquito, Mexico (4)

 
 

 

 
 

100%

 
 

 

 
 

37,400

 
 

0.69%

 
 

300

 
 

 

 
 

157,300

 
 

0.59%

 
 

900

 
 

194,700

 
 

0.61%

 
 

1,200

 
 

22,800

 
 

0.6%

 
 

100

 
 

 

 
 

81%

 
 

Telfer Projects, Australia (5)(6)

 
 

 

 
 

100%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

51,700

 
 

0.30%

 
 

300

 
 

51,700

 
 

0.30%

 
 

300

 
 

1,900

 
 

0.2%

 
 

 
 

 

 
 

89%

 
 

  Total Zinc  

 
 

 

 
 

 

 
 

 

 
 

  37,400  

 
 

  0.69%  

 
 

  300  

 
 

 

 
 

  209,100  

 
 

  0.60%  

 
 

  1,300  

 
 

  246,500  

 
 

  0.61%  

 
 

  1,500  

 
 

  24,700  

 
 

  0.6%  

 
 

  100  

 
 

 

 
 

  80%  

 
 
                  
 

  (1)

 
 

Resources are reported exclusive of reserves.

 
 

  (2)

 
 

At December 31, 2024 and 2023, zinc resources were estimated at a zinc price of $1.30 and $1.45 per pound, respectively. Tonnage amounts have been rounded to the nearest 100,000.

 
 

  (3)

 
 

Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.

 
 

  (4)

 
 

Amounts presented herein have been rounded to the nearest 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.

 
 

  (5)

 
 

Site acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information. Zinc resources at sites acquired through the Newcrest transaction were estimated at a zinc price of $1.15 per pound at December 31, 2023.

 
 

  (6)

 
 

In the fourth quarter of 2024, the Company completed the sale of the assets of the Telfer reportable segment, which includes the Havieron development project. Refer to Note 3 to the Consolidated Financial Statements for further information.

 
 
                                                                                                     
 

  Molybdenum Reserves (1)  

 
 

  December 31, 2024  

 
 

 

 
 

  December 31, 2023  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Proven Reserves

 
 

 

 
 

Probable Reserves

 
 

 

 
 

Proven and Probable Reserves

 
 

 

 
 

 

 
 

 

 
 

Proven and Probable Reserves

 
 

Deposits/Districts

 
 

 

 
 

Newmont

 

Share

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(Mo %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(Mo %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(Mo %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Metallurgical

 

Recovery (3)

 
 

 

 
 

Tonnage (2)

 

(000 tonnes)

 
 

Grade

 

(Mo %)

 
 

Tonnes (3)

 

(000)

 
 

NuevaUnión, Chile (4)(5)

 
 

 

 
 

50%

 
 

 

 
 

 
 

— %

 
 

 
 

 

 
 

776,900

 
 

0.02 %

 
 

100

 
 

 

 
 

776,900

 
 

0.02 %

 
 

100

 
 

 

 
 

48%

 
 

 

 
 

776,900

 
 

0.02%

 
 

100

 
 

Cadia, Australia (6)(7)(8)

 
 

 

 
 

100%

 
 

 

 
 

 
 

— %

 
 

 
 

 

 
 

1,040,600

 
 

0.01 %

 
 

100

 
 

 

 
 

1,040,600

 
 

0.01 %

 
 

100

 
 

 

 
 

67%

 
 

 

 
 

1,085,100

 
 

0.01%

 
 

100

 
 

  Total Molybdenum  

 
 

 

 
 

 

 
 

 

 
 

  

 
 

  — %  

 
 

 
 

 

 
 

  1,817,500  

 
 

  0.01 %  

 
 

  200  

 
 

 

 
 

  1,817,500  

 
 

  0.01 %  

 
 

  200  

 
 

 

 
 

  56%  

 
 

 

 
 

  1,862,000  

 
 

  0.01%  

 
 

  200  

 
 
                        
 

  (1)

 
 

At December 31, 2024 and 2023, molybdenum reserves at sites for which Newmont is the operator were estimated at a molybdenum price of $13.00 and $8.00 per pound, respectively, unless otherwise noted. 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.

 
 

  (3)

 
 

Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.

 
 

  (4)

 
 

Project is currently undeveloped. Molybdenum reserves at December 31, 2024 and 2023 were estimated at a molybdenum price of $10.00 per pound and were provided by the NuevaUnión joint venture.

 
 

  (5)

 
 

Currently included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.

 
 

  (6)

 
 

The net smelter return value utilized in 2024 reserves not less than $21.70 per tonne.

 
 

  (7)

 
 

Amounts presented herein have been rounded to the nearest 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.

 
 

  (8)

 
 

Site acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information.

 
 
                                                                                        
 

  Molybdenum Resources (1)(2) - December 31, 2024  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Measured Resource

 
 

 

 
 

Indicated Resource

 
 

Measured and Indicated Resource

 
 

Inferred Resource

 
 

 

 
 

 

 
 

Deposits/Districts

 
 

 

 
 

Newmont

 

Share

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Mo %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Mo %)

 
 

Tonnes (3)

 

(000)

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Mo %)

 
 

Tonnes (3)

 

(000)

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Mo %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Metallurgical Recovery (3)

 
 

NuevaUnión, Chile (4)

 
 

 

 
 

50%

 
 

 

 
 

159,500

 
 

0.01%

 
 

 
 

 

 
 

231,500

 
 

0.01%

 
 

 
 

391,000

 
 

0.01%

 
 

 
 

362,300

 
 

—%

 
 

 
 

 

 
 

52%

 
 

Cadia, Australia

 
 

 

 
 

100%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

1,173,900

 
 

0.01%

 
 

100

 
 

1,173,900

 
 

0.01%

 
 

100

 
 

509,600

 
 

—%

 
 

 
 

 

 
 

72%

 
 

  Total Molybdenum  

 
 

 

 
 

 

 
 

 

 
 

  159,500  

 
 

  0.01%  

 
 

  

 
 

 

 
 

  1,405,400  

 
 

  0.01%  

 
 

  100  

 
 

  1,564,900  

 
 

  0.01%  

 
 

  100  

 
 

  872,000  

 
 

  —%  

 
 

  100  

 
 

 

 
 

  62%  

 
 
                                                                                        
 

  Molybdenum Resources (1)(2) - December 31, 2023  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Measured Resource

 
 

 

 
 

Indicated Resource

 
 

Measured and Indicated Resource

 
 

Inferred Resource

 
 

 

 
 

 

 
 

Deposits/Districts

 
 

 

 
 

Newmont

 

Share

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Mo %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Mo %)

 
 

Tonnes (3)

 

(000)

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Mo %)

 
 

Tonnes (3)

 

(000)

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(Mo %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Metallurgical Recovery (3)

 
 

NuevaUnión, Chile (4)

 
 

 

 
 

50%

 
 

 

 
 

159,500

 
 

0.01%

 
 

 
 

 

 
 

231,500

 
 

0.01%

 
 

 
 

391,000

 
 

0.01%

 
 

 
 

362,300

 
 

—%

 
 

 
 

 

 
 

52%

 
 

Cadia, Australia (5)(6)

 
 

 

 
 

100%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

1,515,400

 
 

0.01%

 
 

100

 
 

1,515,400

 
 

0.01%

 
 

100

 
 

497,000

 
 

—%

 
 

 
 

 

 
 

72%

 
 

  Total Molybdenum  

 
 

 

 
 

 

 
 

 

 
 

  159,500  

 
 

  0.01%  

 
 

  

 
 

 

 
 

  1,746,900  

 
 

  0.01%  

 
 

  100  

 
 

  1,906,400  

 
 

  0.01%  

 
 

  100  

 
 

  859,400  

 
 

  —%  

 
 

  100  

 
 

 

 
 

  60%  

 
 
                  
 

  (1)

 
 

Resources are reported exclusive of reserves.

 
 

  (2)

 
 

At December 31, 2024 and 2023, molybdenum resources at sites in which Newmont is the operator were estimated at a molybdenum price of $16.00 and $10.00 per pound, respectively, unless otherwise noted. Tonnage amounts have been rounded to the nearest 100,000.

 
 

  (3)

 
 

Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.

 
 

  (4)

 
 

Project is currently undeveloped and is included in Corporate and Other in Note 4 to the Consolidated Financial Statements. Molybdenum resources at December 31, 2024 and 2023 were estimated at a molybdenum price of $10.00 per pound and were provided by the NuevaUnión joint venture.

 
 

  (5)

 
 

Amounts presented herein have been rounded to the nearest 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.

 
 

  (6)

 
 

Site acquired through the Newcrest transaction. Refer to Note 3 to the Consolidated Financial Statements for further information.

 
 
                                                                     
 

  Tungsten Resources at December 31, 2023 (1)(2)  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Measured Resource

 
 

 

 
 

Indicated Resource

 
 

Measured and Indicated Resource

 
 

Inferred Resource

 
 

 

 
 

 

 
 

Deposits/Districts

 
 

 

 
 

Newmont

 

Share

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(W %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(W %)

 
 

Tonnes (3)

 

(000)

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(W %)

 
 

Tonnes (3)

 

(000)

 
 

Tonnage

 

(000 tonnes)

 
 

Grade

 

(W %)

 
 

Tonnes (3)

 

(000)

 
 

 

 
 

Metallurgical Recovery (3)

 
 

Telfer Projects, Australia

 
 

 

 
 

100%

 
 

 

 
 

 
 

—%

 
 

 
 

 

 
 

51,700

 
 

0.35%

 
 

200

 
 

51,700

 
 

0.35%

 
 

200

 
 

1,900

 
 

0.4%

 
 

 
 

 

 
 

74%

 
 

  Total Tungsten  

 
 

 

 
 

 

 
 

 

 
 

  

 
 

  —%  

 
 

  

 
 

 

 
 

  51,700  

 
 

  0.35%  

 
 

  200  

 
 

  51,700  

 
 

  0.35%  

 
 

  200  

 
 

  1,900  

 
 

  0.4%  

 
 

  

 
 

 

 
 

  74%  

 
 
         
 

  (1)

 
 

Resources are reported exclusive of reserves.

 
 

  (2)

 
 

At December 31, 2023, tungsten resources were estimated at a tungsten price of $16.00 per pound. Tonnage amounts have been rounded to the nearest 100,000. The Telfer reportable segment was acquired in 2023 through the Newmont transaction and subsequently sold in the fourth quarter of 2024. Refer to Note 3 to the Consolidated Financial Statements for further information. Due to the sale, the Company had no tungsten reserves at December 31, 2024.

 
 

  (3)

 
 

Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.

 
 

   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, 2024 or December 31, 2023, as applicable, 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 5 herein. Investors are also encouraged to refer to the Company's Form 10-K for its fiscal year 2024, filed with the SEC on, or about, February 21, 2025, as well as Newmont's other SEC filings, 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.

 

   Note Regarding Go-Forward Tier 1 Portfolio   :

 

Newmont's go-forward Tier 1 portfolio is focused on Tier 1 assets, consisting of (1) six managed Tier 1 assets (Boddington, Tanami, Cadia, Lihir, Peñasquito, 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.

 

Tier 1 Assets are defined as having, on average over such asset's mine life: (1) production of over 500,000 GEO's/year on a consolidated basis, (2) average all-in sustaining cost ("AISC") / oz in the lower half of the industry cost curve, (3) an expected mine life of over 10 years, and (4) operations in countries that are classified in the A and B rating ranges for Moody's, S&P and Fitch. For the definition of GEOs and AISC, see Newmont's annual report on Form 10-K on file with the SEC. With respect to other assets in the industry, such terms and metrics are as published in public filings of the third party entities reporting with respect to those assets. Our methods of calculating operating metrics, such as AISC, and those of third parties may differ for similarly titled metrics published by other parties due to differences in methodology.

 

Note that this classification is based on the reasonable good faith expectations of management as of the date hereof based on an assessment that considers past performance, as well as expectations over the remainder of the life of mine. As such, Tier 1 Asset classifications are forward-looking statement with respect to the average over the life of mine. For example, an asset may not fit one element of such definition due to a change over a select period, but continue to be designated as a Tier 1 Asset based on an aggregated assessment of the asset over the life of mine. Estimates or expectations of future production, AISC, mine life and country ratings are based upon certain assumptions, which may prove to be incorrect. Such assumptions, include, but are not limited to: (i) there being no significant change to current geotechnical, metallurgical, hydrological and other physical conditions; (ii) permitting, development, operations and expansion of Newmont's operations and projects being consistent with current expectations and mine plans; (iii) political developments being consistent with current expectations; (iv) certain price assumptions for gold, copper, silver, zinc, lead and oil; (v) prices for key supplies; (vi) the accuracy of current mineral reserve, mineral resource and mineralized material estimates; and (vii) other planning assumptions.

 

   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.

 

  

  

 

  Investor Contact - Global  
Neil Backhouse
investor.relations@newmont.com  

Investor Contact - Asia Pacific  
Natalie Worley
apac.investor.relations@newmont.com  

Media Contact - Global  
Shannon Lijek
globalcommunications@newmont.com  

Media Contact - Asia Pacific  
Rosalie Cobai
australiacommunications@newmont.com  

 

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Blackrock Silver Commences Eastern Expansion Drill Program Targeting 1.2km Trend at Tonopah West

Blackrock Silver Commences Eastern Expansion Drill Program Targeting 1.2km Trend at Tonopah West

 

Scout Drilling Discovered the Extension of the High-grade Merten Vein Creating an Opportunity to Expand the Dpb Resource up to 1,200 Metres to the East

 

SCOUT PROGRAM HIGHLIGHTS:

 
  • Assay results from the Company's reverse circulation Scout Drill Program (see March 31, 2025 news) returned significant gold & silver values in 7 drillholes that successfully expanded the footprint of mineralization up to 1,200 metres from the east of the existing DPB resource toward the historic Ohio mine;

  •  
  • These intercepts cover a new zone of silver and gold interpreted to be the outer ring structure of the Fraction caldera, and are not included in the 2024 resource;

  •  
  • A fully funded 15 drillhole program totalling up to 5,000 metres is underway; and

  •  
  • Results from this program will be incorporated into an updated Mineral Resource Estimate in Q1, 2026.

  •  

Vancouver, British Columbia--(Newsfile Corp. - July 21, 2025) - Blackrock Silver Corp. (TSXV: BRC,OTC:BKRRF) (OTCQX: BKRRF) (FSE: AHZ0) ("Blackrock" or the "Company") announces commencement of a fully-funded expansion drill program ("Expansion Program") to follow up on the successful Scout Drilling campaign that expanded the DPB South zone 1,200 metres in an easterly direction on its 100% owned Tonopah West project located in Nye and Esmeralda Counties, Nevada, United States.

 

The Expansion Program will utilize one Reverse Circulation (RC) drill overseen by Legacy Drilling and two core drill rigs operated by Alloy Drilling to complete 2,450 metres (8,000 ft) of RC precollars and 2,550 metres (8,400 ft) of core tails across 15 drillholes targeting the Eastern Expansion zone between the DPB resource area and the eastern extent of the project. Drilling is anticipated to be completed in October with assay results expected through year end.

 

Andrew Pollard, Blackrock's President and CEO, stated, "With drills now turning on this fully financed program, we're stepping out across a 1.2-kilometre corridor with strong potential to significantly expand our mineral inventory at Tonopah West. Scout drilling confirmed the eastern extension of the high-grade Merten vein well beyond the current resource boundary, returning standout grades including 2,063 grams per tonne (g/t) silver equivalent (AgEq) (1,198 g/t silver (Ag) and 9.6 g/t gold (Au)) over 1.52 metres, and 952 g/t AgEq (10 g/t Ag and 10.5 g/t Au) over 4.57 metres. This newly defined zone, situated along the outer ring structure of the Fraction caldera, lies entirely outside our 2024 resource and presents an opportunity to quickly and meaningfully grow the scale of the project. Results from this program are expected to underpin a resource update in Q1 2026. The Company remains on track to deliver a separate resource update in Q3 2025 that will incorporate all results from the recently completed M&I conversion program."

 

As announced on March 31, 2025, the Company discovered the 1,200 metre eastern extension zone representing the continuation of the outer-ring structure or Fraction caldera margin from DPB South to the historic Ohio mine. The Scout Drilling showed the Merten vein extends eastward and is arched and dips southward. This orientation suggests multiple ring structures associated with the Fraction caldera running across Tonopah West. An inner structure hosting the Victor and DPB North (Denver and Paymaster) resources, and an outer, more southern, ring structure hosting DPB South (Merten and Bermuda) and the NW Stepout resources (See Figure 1). The arching geometry of the Merten vein is similar to that described from the historic Ohio vein which was 15 metres thick when mined in the early 1900s1. Given the geometry and location, the Merten is potentially the extension of the Ohio vein. Table 1 summarizes the Scout Drilling assay results above 150 g/t AgEq.

 

Table 1: Scout Drilling Program results above 150 g/t AgEq

 
                                                                                                 
Drillhole IDHole 
Type
AreaFrom 
(m)
To
 (m)
Drill
 Interval
 (m)
Ag g/tAu g/tAgEq g/t
TW25-125RCDPB East220.98222.501.5276.412.010257.3
TW25-127RCDPB East390.15391.671.528.001.750165.5
TW25-130RCDPB East188.98190.501.52290.003.300587.0
TW25-132RCDPB East245.36246.891.5278.581.180184.8
TW25-133RCDPB East280.42283.473.05129.081.575270.8
TW25-133RCDPB East309.37313.954.5710.6510.456951.8
Including309.37310.901.5215.7321.4671,948.0
TW25-128RCOhio292.61294.131.521,198.009.6102,063.0
TW25-128RCOhio297.18298.711.52219.001.720373.8
TW25-131RCOhio269.75271.271.5289.102.630325.8
AgEq gpt=(Au gpt*90)+Ag gpt; True thickness unknown at this time; Cut-off grade is 150 gpt AgEq;
RC = Reverse Circulation Drilling
 

 

 

TW25-133 returned significant silver and gold with values starting at 309-metres grading 10.46 g/t gold and 10.6 g/t silver over 4.57 metres (952 g/t AgEq), and show mineralization extends along the Merten vein for 540 meters to the east-southeast of the main DPB South resource. With the inclusion of TW25-128 which returned 9.6 g/t gold and 1198 g/t silver over 1.5-metres (2,063 g/t AgEq), the zone could be up to 1,200-metres in length.

 

The mineralized zone traced by these assay results is new and not included in the 2024 resource. These results could have a substantive impact on the future resource estimate.

 

Cannot view this image? Visit: https://images.newsfilecorp.com/files/676/259346_2ae57e3a248179b3_001.jpg

 

Figure 1: Tonopah West expansion potential

 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/676/259346_2ae57e3a248179b3_001full.jpg

 

Cannot view this image? Visit: https://images.newsfilecorp.com/files/676/259346_2ae57e3a248179b3_002.jpg

 

Figure 2: Drillhole location map with cross section line at location 478540E

 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/676/259346_2ae57e3a248179b3_002full.jpg

 

Cannot view this image? Visit: https://images.newsfilecorp.com/files/676/259346_2ae57e3a248179b3_003.jpg

 

Figure 3: Geologic cross section along 478540E

 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/676/259346_2ae57e3a248179b3_003full.jpg

 

Quality Assurance/ Quality Control

 

All sampling is conducted under the supervision of the Company's project geologists, and a strict chain of custody from the project to the sample preparation facility is implemented and monitored. The RC samples are hauled from the project site to a secure and fenced facility in Tonopah, Nevada, where they are loaded on to American Assay Laboratory's (AAL) flat-bed truck and delivered to AAL's facility in Sparks, Nevada. A sample submittal sheet is delivered to AAL personnel who organize and process the sample intervals pursuant to the Company's instructions.

 

The RC samples are lined out at the lab and logged into AAL's system. The samples are dried, crushed to 85% passing 10 mesh (2mm) and a 250-gram sub-sample split is collected and pulverized to 200 mesh (74 micron) in a ring and puck pulverizer. Then the pulverized material is digested and analyzed for gold using fire assay fusion and an Induced Coupled Plasma (ICP) finish on a 30-gram assay split (FA-PB30-ICP). Silver is determined using five-acid digestion and ICP analysis (ICP-5AM48). Over limits for gold and silver are determined using a gravimetric finish (GRAVAU30 and GRAVAG30). Data verification of the assay and analytical results are completed to ensure accurate and verifiable results. Blackrock personnel insert a blind prep blank, lab blank or a certified reference material approximately every 15th to 20th sample.

 

Qualified Persons

 

Blackrock's exploration activities at Tonopah West are conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock. Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects. He has reviewed and approved the contents of this news release.

 

About Blackrock Silver Corp.

 

Backed by gold and silver ounces in the ground, Blackrock is a junior precious metal focused exploration and development company driven to add shareholder value. Anchored by a seasoned Board of Directors, the Company is focused on its 100% controlled Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver mineralization located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.

 

Additional information on Blackrock Silver Corp. can be found on its website at www.blackrocksilver.com and by reviewing its profile on SEDAR at www.sedarplus.ca.

 

Cautionary Note Regarding Forward-Looking Statements and Information

 

This news release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of Canadian and United States securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this news release relate to, among other things: the Company's strategic plans; the timing of and successful completion of the Company's Expansion Program at Tonopah West and the anticipated objectives and results therefrom; timing and estimates of mineral resource quantities and qualities; timing of updated resource estimates; estimates of mineralization from drilling; geological information projected from sampling results; and the potential quantities and grades of the target zones.

 

These forward-looking statements reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; the historical basis for current estimates of potential quantities and grades of target zones; the availability of skilled labour and no labour related disruptions at any of the Company's operations; no unplanned delays or interruptions in scheduled activities; all necessary permits, licenses and regulatory approvals for operations are received in a timely manner; the ability to secure and maintain title and ownership to properties and the surface rights necessary for operations; and the Company's ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.

 

The Company cautions the reader that forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data; general market and industry conditions; and those factors identified under the caption "Risks Factors" in the Company's most recent Annual Information Form.

 

Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 
 

For Further Information, Contact:

 

Andrew Pollard
President and Chief Executive Officer
(604) 817-6044
info@blackrocksilver.com 

 
 

News Provided by Newsfile via QuoteMedia

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