Newmont Corporation (NEM) SEC Filings & Earnings Calls

El Niño conditions may impact Lihir water supply and production in Q4.

“El Niño conditions impacting water supply at Lihir, forecasted to intensify; may impact production and costs.”

Inflationary pressures, especially oil prices, could increase costs.

“Unit costs may be impacted by continued inflationary pressures, including higher oil prices; $50M cost impact for every $10 change in oil price.”

Q4 unit costs expected to increase due to higher sustaining capital and lower co-product volumes.

“Unit costs are expected to increase in the fourth quarter primarily due to higher sustaining capital spend, as well as lower co-product volumes.” · word for word

Operational disruption at Cadia

“Gold production decreased 37% and 64%, respectively, primarily as a result of continuing impacts in the third quarter from the Cadia seismic event earlier in the year.”

Ghana regulatory changes

“The revised framework could result in higher operating costs at our Ghanaian operations, particularly in periods of higher gold prices.” · word for word

Cost inflation

“Costs applicable to sales per gold ounce increased 13% primarily due to higher inventory costs per unit from ore processed from stockpiles, higher contracted services costs, higher energy costs, and higher government royalties.” · word for word

Execution risk in contributing and integrating projects; potential dilution if non-contributing member does not pay share.

“procedures for valuing future contributions of development and exploration properties and calculating dilution of the non-contributing Member’s proportionate interest” · word for word

Gold price volatility could impact future cash flows and project economics.

“Gold mining company exposed to commodity price fluctuations.”

Regulatory approvals for Red Chris Block Cave project still pending final investment decision.

“Received key regulatory approvals... marking a significant milestone in stage-gating as the project advances toward a final investment decision.” · word for word

Cadia seismic event production disruption

“Cadia, Australia. Gold and gold equivalent ounces - other metals production decreased 38% and 60%, respectively, primarily as a result of the Cadia seismic event.” · word for word

Ghana tax rate increase

“Includes impact of increase in corporate tax rate from 32.5% to 35% effective January 1, 2026.” · word for word

Elevated sustaining capital spend expected over next few years for tailings solutions at Cadia and Boddington.

“Newmont expects to spend $1.95 billion in 2026 sustaining capital; spend expected to increase beginning in Q2.” · word for word

Ghana regulatory risk

“royalties transitioned to a fixed rate of 5% of gold revenue... revised to a sliding-scale structure ranging from 5% to 12% of gold revenues” · word for word

Operational disruption (Cadia earthquake)

“a magnitude 4.5Mla earthquake was recorded... resulted in the temporary suspension of Cadia’s underground mining activities” · word for word

Production decline

“Gold production decreased 31% primarily due to lower ore grade milled and lower mill throughput” · word for word

Tax increases in multiple jurisdictions

“the Mexican government has increased the mining tax rate from 7.5% to 8.5%, and 0.5% to 1% for gold, silver, platinum sales, both effective on January 1, 2025” · word for word

Political instability in Peru

“In October 2025, the Congress declared the vacancy of President Dina Boluarte, assuming the presidency of José Jerí, making him the eighth Peruvian president in less than a decade.” · word for word

Labor cost increases and union disputes

“the Company agreed to an annual salary increase of 8% effective as of August 1, 2023” · word for word

Ghana royalty rate increase

“The Government of Ghana has announced plans to amend the country’s mineral royalty regime by replacing the current maximum 5% royalty rate with a sliding scale ranging from 5% to 12%, linked to prevailing gold prices.” · word for word

Mexico Mining Reform uncertainty

“The Mining Reform has added significant uncertainty for foreign investors in Mexico and companies operating in the mining sector, including Newmont.” · word for word

2026 AISC expected to increase to $1,680/oz from $1,358/oz in 2025, a 24% increase

“Gold by-product AISC is expected to be $1,680 per ounce vs $1,358 in 2025”

2026 gold production guidance 5.3M oz vs 5.9M oz in 2025, a 10% decline

“Attributable production for 2026 is expected to be approximately 5.3 million gold ounces vs 5.9 million in 2025” · word for word