Newmont Reports Second Quarter 2023 Results; Remains on Track to Achieve Full Year Guidance*; Declares $0.40 Second Quarter Dividend

About this update from Newmont Corporation

[{"type":"text","content":"DENVER / Jul 20, 2023 / Business Wire / Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced second quarter 2023 results and declared a second quarter dividend of $0.40 per share. Second Quarter Decisions Position Newmont for a Strong Second Half Performance Produced 1.24 million attributable gold ounces and 256 thousand co-product gold equivalent ounces (GEOs)** from copper, silver, lead and zinc; well positioned for stronger production in the second half of the year Reported gold Costs Applicable to Sales (CAS) of $1,054 per ounce and gold All-In Sustaining Costs (AISC) of $1,472 per ounce***; impacted by lower production volumes; costs expected to decrease in the second half of the year On track to achieve full-year guidance of between 5.7 and 6.3 million ounces of attributable gold production with Gold AISC between $1,150 and $1,250 per ounce; primarily driven by increased production at Ahafo, Tanami, Cerro Negro, Akyem and the two non-managed joint ventures at Nevada Gold Mines and Pueblo Viejo Generated $656 million of cash from continuing operations and reported $40 million of Free Cash Flow***; impacted by higher sustaining and development capital spend as we continue to reinvest for the future Reported Net Income of $155 million, with Adjusted Net Income (ANI)*** of $0.33 per diluted share and Adjusted EBITDA*** of $910 million; prioritizing safety, long-term value and positioning for stronger second half results Ended the quarter with $2.8 billion of consolidated cash, $374 million of short-term time deposits and $6.2 billion of liquidity; reported net debt to adjusted EBITDA ratio of 0.7x*** Entered into a definitive agreement to acquire Newcrest Mining Limited (\"Newcrest\"); transaction is expected to close in the fourth quarter, subject to customary conditions, including shareholder approval Progressed portfolio optimization through the deferral of the investment decision for the Yanacocha Sulfides project by at least two years Published 3rd Annual Climate Report; outlining how Newmont understands and is addressing climate change Second Quarter Dividend Declared Within Established Framework**** Board of Directors declared a dividend of $0.40 per share of common stock for the second quarter of 2023; payable on September 21, 2023 to holders of record at the close of business on September...

More updates from Newmont Corporation