Newmont Announces Third Quarter 2021 Results

About this update from Newmont Corporation

[{"type":"text","content":"DENVER / Oct 28, 2021 / Business Wire / Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced third quarter 2021 results. THIRD QUARTER 2021 HIGHLIGHTS Produced 1.45 million attributable ounces of gold and 315 thousand attributable gold equivalent ounces from co-products Reported gold CAS* of $830 per ounce and AISC* of $1,120 per ounce Updated full-year guidance of 6.0 million ounces of attributable gold production, $790 per ounce of CAS and $1,050 per ounce of AISC**, reaffirming original guidance of 1.3 million gold equivalent ounces from copper, silver, lead and zinc Generated $1.1 billion of cash from continuing operations and $735 million of Free Cash Flow (97 percent attributable to Newmont)* Declared third quarter dividend of $0.55 per share, consistent with the previous quarter*** Completed $99 million of share repurchases from $1 billion buyback program*** Ended the quarter with $4.6 billion of consolidated cash and $7.6 billion of liquidity with a net debt to adjusted EBITDA* ratio of 0.2x Delivered the gold industry’s first Autonomous Haulage System (AHS) fleet, improving safety and long-term productivity at Boddington Advancing near-term projects, including Tanami Expansion 2, Ahafo North and the mining method change at Subika Underground Progressing Yanacocha Sulfides, investing at least $500M through 2022 with a full funds decision expected in the second half of 2022 \"Newmont delivered on a challenging third quarter performance with $1.3 billion in adjusted EBITDA and $735 million in free cash flow, building momentum for a strong fourth quarter,\" said Tom Palmer, Newmont President and Chief Executive Officer. \"Supported by our clear strategic focus and proven operating model, we continue to apply our disciplined approach to capital allocation. A year ago, we announced our industry-leading dividend framework, establishing a clear pathway for stable and predictable returns. Over the last four quarters, Newmont has steadily reinvested in our operations while returning more than $2 billion dollars to shareholders through dividends and share buybacks, demonstrating our confidence in the long-term value of our business and our ability to maintain financial flexibility.\" - Tom Palmer, Newmont President and Chief Executive Officer * Non-GAAP metrics; see footnotes at the end of this releas...

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