Newmont announced its intent to divest six non-core assets, including CC&V, Musselwhite, Porcupine, Éléonore, Telfer, and Akyem, as well as the Coffee development project in Canada. This strategic decision aims to streamline operations and focus on core assets.

The acquisition of Newcrest Mining Limited was completed on November 6, 2023, adding substantial gold and other metal reserves and expanding the company's operating jurisdictions. The total non-cash consideration for the Newcrest transaction was $13.549 billion.

Unaudited pro forma financial information presents consolidated results assuming the Newcrest transaction occurred on January 1, 2022, showing sales of $3.862 billion and net income attributable to Newmont stockholders of $593 million for the three months ended March 31, 2023.

As of March 31, 2024, the purchase price allocation for Newcrest is preliminary, with remaining items to finalize including the fair value of materials and supplies inventories, property plant and mine development, goodwill, reclamation and remediation liabilities, employee-related benefits, unrecognized tax benefits, and deferred income tax assets and liabilities. The purchase price allocation adjustments can be made throughout the end of Newmont's measurement period, which is not to exceed one year from the acquisition date.

The company is actively monitoring inflationary conditions, the effects of certain countermeasures taken by central banks, and the potential for further supply chain disruptions as well as an uncertain and evolving labor market. These factors could have potential short- and, possibly, long-term material adverse impacts on the Company.

The company is actively pursuing the divestiture of six non-core assets and a development project, with the assets meeting the accounting requirements to be presented as held for sale in February 2024. As of December 31, 2023, the aggregate net book value of the non-core assets and the development project was $3,419.

The Company's global operations expose it to risks associated with public health crises, including epidemics and pandemics such as COVID-19, and geopolitical and macroeconomic pressures such as the Russian invasion of Ukraine. These factors could have potential short- and, possibly, long-term material adverse impacts on the Company.

The Company is involved in several matters concerning environmental remediation obligations associated with former, primarily historic, mining activities. These matters concern developing and implementing remediation plans at the various sites involved.

The acquisition of Newcrest increases exposure to regulatory and legal risks, including proceedings commenced by the NSW EPA against Cadia Holdings, alleging air emissions violations. The court can impose penalties.

Newmont is the world's leading gold company and is the only gold company included in the S&P 500 Index and the Fortune 500 list of companies. The company has been included in the Dow Jones Sustainability Index-World since 2007 and has adopted the World Gold Council's Conflict-Free Gold Policy.

The acquisition of Newcrest Mining Limited increases the Company's gold and other metal reserves and expands the operating jurisdictions, enhancing the company's scale, asset quality, and geographic spread.

The company is actively managing its portfolio of assets to optimize its asset base. In February 2024, based on a comprehensive review of the Company's portfolio of assets, the Company's Board of Directors approved a portfolio optimization program to divest six non-core assets and a development project.

The company is implementing measures to improve operational efficiency, including the integration of Newcrest and the portfolio optimization program. The company expects to realize cost reductions, synergies, including pre-tax synergies, savings and efficiencies, and future cash flow enhancements through portfolio optimization.

Gold production at Tanami increased 43% primarily due to higher mill throughput in the current year as a result of the Tanami rainfall event in the prior year. Costs applicable to sales per gold ounce were generally in line with the prior year. Depreciation and amortization per gold ounce decreased 6% primarily due to higher gold ounces sold. All-in sustaining costs per gold ounce decreased 6% primarily due to higher gold ounces sold.

Gold production at Ahafo increased 48% primarily due to higher ore grade milled. Costs applicable to sales per gold ounce decreased 13% primarily due to higher gold ounces sold, partially offset by higher third party royalties and higher contracted services and labor costs. Depreciation and amortization per gold ounce decreased 8% primarily due to higher gold ounces sold, partially offset by higher depreciation rates as a result of higher gold ounces mined and asset additions. All-in sustaining costs per gold ounce decreased 26% primarily due to lower sustaining capital spend and lower Costs applicable to sales per gold ounce.

In November 2021, Newmont announced a strategic alliance with CAT and pledged a preliminary investment of $100 million with the aim to develop and implement a comprehensive all-electric autonomous mining system to achieve zero emissions mining. Newmont has paid $56 as of March 31, 2024, and the remaining pledged amount is anticipated to be paid as certain milestones are reached through 2025.

The company is using technology to improve operations, including the installation of interim passive water treatment and ongoing monitoring over the next three years, and then more long-term water treatment installed with target compliance by November 2027.

The company is using technology to improve operations, including the installation of additional dust sprays and spray curtains. Additional dust collection units were subsequently installed enabling normal mining rates to be restored.

The company is using capital to improve operations, including the installation of interim passive water treatment and ongoing monitoring over the next three years, and then more long-term water treatment installed with target compliance by November 2027.

The company is using capital to improve operations, including the installation of additional dust sprays and spray curtains. Additional dust collection units were subsequently installed enabling normal mining rates to be restored.

The company is using capital to improve operations, including the construction of the effluent pipeline began in 2021, and construction of the new WTP began in 2022. Both projects are scheduled to be completed in 2024.

The Cadia PPA will partially hedge against future power price increases at the Cadia mine and will provide the Company with access to large scale generation certificates which the Company intends to surrender to achieve a reduction in its greenhouse gas emissions.

The Company conducts its operations to protect public health and the environment and believes its operations are in compliance with applicable laws and regulations in all material respects. The Company has made, and expects to make in the future, expenditures to comply with such laws and regulations.

At Newmont, safety is a core value, and we strive for superior performance. Our health and safety management system, which includes detailed standards and procedures for safe production, addresses topics such as employee training, risk management, workplace inspection, emergency response, accident investigation and program auditing.

Changes in the market price of gold significantly affect our profitability and cash flow. Gold prices can fluctuate widely due to numerous factors, such as demand; forward selling by producers; central bank sales, purchases and lending; investor sentiment; the strength of the USD; inflation, deflation, or other general price instability; and global mine production levels.

Changes in the market price of copper, silver, lead and zinc also affect our profitability and cash flow. These metals are traded on established international exchanges and prices generally reflect market supply and demand but can also be influenced by speculative trading in the commodity or by currency exchange rates.

Foreign currency exchange rates can increase or decrease profits to the extent costs are paid in foreign currencies, including the Australian dollar, the Canadian dollar, the Mexican peso, the Argentine peso, the Peruvian sol, the Surinamese dollar, the Ghanaian cedi, and the Papua New Guinean kina.