Newmont completed the acquisition of Newcrest Mining Limited on November 6, 2023, increasing the Company's gold and other metal reserves and expanding operating jurisdictions. The total non-cash consideration was $13.549B. The acquisition is expected to yield operating synergies.

The Company initiated a portfolio optimization program to divest six non-core assets and a development project, including CC&V, Musselwhite, Porcupine, Éléonore, Telfer, Akyem, and the Coffee development project. This program is aimed at improving capital allocation and focusing on core assets.

The Company completed the sale of the SCFA and Offtake agreement in which Lundin Gold repurchased the Streaming Credit Facility agreement and settled the rights under the Offtake agreement for cash consideration of $330, of which $180 was received in June 2024. The sale resulted in a gain of $49 recognized in Other Income (loss), net.

The purchase price allocation for the Newcrest acquisition is preliminary as of June 30, 2024, pending finalization of fair value assignments. Refinements may result in material changes to the estimated fair value of assets acquired and liabilities assumed. The Company is working to implement Newmont accounting policies.

Seepage points were detected on the outer wall and around the tailings storage facility at Telfer, leading to a temporary cessation of placing new tailings on the facility. Remediation has commenced, and production is expected to resume in the fourth quarter of 2024.

The company is managing various legal and environmental challenges, including those at Cripple Creek & Victor Gold Mining Company LLC, and Dawn Mining Company LLC. The company is working to mitigate these challenges.

The Company's revenue, profitability, and future rate of growth are substantially dependent on prevailing metal prices, primarily for gold, but also for copper, silver, lead, and zinc. A substantial or extended decline in commodity prices could have a material adverse effect on the Company's financial position, results of operations, cash flows, access to capital and on the quantities of reserves that the Company can economically produce.

The Company continues to experience the impacts from recent geopolitical and macroeconomic pressures such as the Russian invasion of Ukraine. The Company continues to monitor 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.

In March 2024, the SEC issued a final rule that requires registrants to disclose climate-related information in their annual reports and in registration statements. In April 2024, the SEC chose to stay the newly adopted rulemaking pending judicial review of related consolidated Eighth Circuit petitions. If the stay is lifted, certain disclosures may be required in annual reports for the year ending December 31, 2025, filed in 2026.

The acquisition of Newcrest further solidifies Newmont's position as the world's leading gold company, increasing its gold and other metal reserves and expanding its operating jurisdictions. The company is the only gold company included in the S&P 500 Index and the Fortune 500 list of companies.

Newmont is committed to sustainable and responsible mining and is included in the Dow Jones Sustainability Index-World since 2007. The company has adopted the World Gold Council's Conflict-Free Gold Policy and is focused on ESG initiatives.

In June 2024, Newmont was named as the only miner in TIME's top 100 green firms ranking. Since 2015, Newmont has been ranked as the mining and metal sector's top gold miner by the S&P Global Corporate Sustainability Assessment.

Costs applicable to sales per gold ounce increased 51% at Cerro Negro due to lower gold ounces sold, higher labor costs and higher inventory write-downs. Costs applicable to sales per gold ounce decreased 16% at Yanacocha due to higher gold ounces sold. Costs applicable to sales per gold ounce increased 7% at Ahafo due to a drawdown of stockpile inventory, higher third party royalties and higher contracted services and labor costs.

Newmont is focused on achieving cost reductions and synergies through its full potential program and the integration of Newcrest. The company is working to improve operational efficiency across its portfolio of assets.

Seepage points were detected on the outer wall and around the tailings storage facility at Telfer, leading to a temporary cessation of placing new tailings on the facility. Remediation has commenced, and production is expected to resume in the fourth quarter of 2024. This negatively impacts operational efficiency.

In November 2021, Newmont announced a strategic alliance with CAT and pledged a preliminary investment of $100 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 June 30, 2024, and the remaining pledged amount is anticipated to be paid as certain milestones are reached through 2025.

The Company is evaluating and conducting studies to better understand and respond to the comments provided by the WDOH. These studies and the related comment process will extend beyond the current year and could result in future material increases to the remediation obligation.

Company is working with regulators on the Discharger Specific Variance to identify highest feasible alternative treatment in the context, based on limits such as area topography. Depending on the plans that may ultimately be agreed with the Division, a material adjustment to the remediation liability may be required.

The Company utilized its $4,000 revolving credit agreement to repay the remaining $1,461 owed on the bilateral bank debt facilities. The Company issued $2,000 unsecured Senior Notes comprised of $1,000 due March 15, 2026 and $1,000 due March 15, 2034. Net proceeds from the 2026 and 2034 Senior Notes were $1,980.

In February 2024, the Board of Directors authorized a stock repurchase program to repurchase shares of outstanding common stock to offset the dilutive impact of employee stock award vesting and to provide returns to shareholders, provided that the aggregate value of shares of common stock repurchased under the new program does not exceed $1 billion.

In July 2024, the Board declared a dividend of $0.25 per share. The declaration and payment of future dividends remains at the full discretion of the Board and will depend on the Company's financial results, cash requirements, future prospects and other factors deemed relevant by the Board.

In November 2021, Newmont announced a strategic alliance with CAT and pledged a preliminary investment of $100 with the aim to develop and implement a comprehensive all-electric autonomous mining system to achieve zero emissions mining.

The Cadia PPA is a 15-year renewable power purchase agreement acquired by the Company through the Newcrest transaction. 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, but cannot predict the full amount of such future expenditures.

Ghana has experienced significant inflation over the last three years and has a highly inflationary economy. In 2021, the Bank of Ghana created a gold purchase program in the effort to stabilize the local currency and build up gold reserves through domestic gold purchases conducted in local currency at prevailing market rates.

Argentina has experienced significant inflation over the last three years and has a highly inflationary economy. In recent years, Argentina's central bank enacted a number of foreign currency controls in an effort to stabilize the local currency.

Suriname has experienced significant inflation over the last three years and has a highly inflationary economy. In 2021, the Central Bank took steps to stabilize the local currency, while the government introduced new legislation to narrow the gap between government revenues and spending.