Newmont Announces Second Quarter 2022 Results

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[{"type":"text","content":"DENVER / Jul 25, 2022 / Business Wire / Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced second quarter 2022 results. SECOND QUARTER 2022 RESULTS Produced 1.5 million attributable ounces of gold and 330 thousand attributable gold equivalent ounces (GEO) from co-products, an increase of more than 130 thousand total gold equivalent ounces from the first quarter Generated $1.0 billion of cash from continuing operations and $514 million of Free Cash Flow (97 percent attributable to Newmont)* Reported gold Costs Applicable to Sales (CAS)* of $932 per ounce and All-In Sustaining Costs (AISC)* of $1,199 per ounce Adjusted Net Income (ANI) of $0.46 per share and Adjusted EBITDA of $1,149, impacted by increasing costs and declining metal prices Updated full-year guidance of 6.0 million ounces of attributable gold production, CAS of $900 per ounce and AISC of $1,150 per ounce; reaffirmed original guidance of 1.3 million gold equivalent ounces from copper, silver, lead and zinc with updated co-product cost guidance of $750 per GEO of CAS and $1,050 per GEO of AISC** Updated full-year guidance for development capital spend to $1.1 billion; Provided trends on development capital costs and timeline related to Tanami Expansion 2 and Ahafo North Declared second quarter dividend of $0.55 per share, consistent with the previous seven quarters*** $1 billion share repurchase program to be used opportunistically in 2022, with $475 million remaining*** Ended the quarter with $4.3 billion of consolidated cash and $7.3 billion of liquidity with a net debt to adjusted EBITDA ratio of 0.3x* Advancing profitable near-term projects, including Tanami Expansion 2, Ahafo North and Yanacocha Sulfides Completed acquisition of Sumitomo Corporation's 5 percent interest in Yanacocha, increasing ownership in Sulfides project to 100 percent Maintained a clear focus on managing the critical controls that must be in place at all times to prevent fatalities; 155 thousand critical control verifications completed by leaders in the field Published our 2021 Sustainability Reporting Suite, including our second Annual Climate Report, prepared in accordance with the Task Force for Climate Disclosure (TCFD) framework, detailing the pathway to achieve 2030 carbon emissions reduction targets and 2050 goal   \"Newmont delivered a solid secon...

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