Business
Newmont Provides 2022 and Longer-term Outlook
DENVER / Dec 02, 2021 / Business Wire / Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) announced its 2022 outlook* with attributable gold
About this update from Newmont Corporation
[{"type":"text","content":"DENVER / Dec 02, 2021 / Business Wire / Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) announced its 2022 outlook* with attributable gold production guidance of 6.2 million ounces and AISC** of $1,050 per ounce at an $1,800 gold price assumption. Total gold production combined with other metals is expected to be 7.5 million gold equivalent ounces in 2022 and improve longer-term, with declining costs through investments in new, lower-cost production and benefits from Full Potential improvements. HIGHLIGHTS Attributable gold production***: Production guidance is 6.2 million ounces for 2022 and is expected to improve to between 6.2 and 6.8 million ounces longer-term. Attributable gold equivalent ounce (GEO) production from other metals****: Co-product GEO production guidance is 1.3 million ounces for 2022 and is expected to improve to between 1.4 to 1.6 million ounces longer-term. Total GEO production expected is 7.5 million ounces for 2022, improving to between 7.7 and 8.3 million ounces longer-term. Costs applicable to sales (CAS)**: Gold CAS guidance is $820 per ounce for 2022, improving to between $700 and $800 per ounce longer-term. Total GEO CAS guidance is $800 per GEO for 2022 and is expected to improve to between $640 and $740 per GEO longer-term. All-in sustaining costs (AISC)**: Gold AISC guidance is $1,050 per ounce for 2022, improving to between $920 and $1,020 per ounce longer-term. Total GEO AISC guidance is $1,030 per GEO for 2022 and is expected to improve to between $880 and $980 per GEO longer-term. Capital: Attributable sustaining capital guidance is $925 million for 2022 and is expected to be between $825 and $1,025 million longer-term. Attributable development capital guidance is $1.2 billion for 2022 and between $1.1 and 1.3 billion for 2023. Over the next five years development capital is expected to average approximately $800 million per year. Development capital expenditures include spend for Tanami Expansion 2, Ahafo North, Yanacocha Sulfides, Pamour at Porcupine and Cerro Negro District Expansion 1. Attributable Free Cash Flow: Substantial leverage to gold price as we generate $400 million per year of incremental free cash flow for every $100 per ounce increase in gold price above $1,200 per ounce. Returns: Industry-leading dividend framework includes an annualized $1.00 per share sus...