Newmont Reports Third Quarter 2023 Results and Declares $0.40 Dividend; Remains on Track to Close the Pending Acquisition of Newcrest

About this update from Newmont Corporation

[{"type":"text","content":"DENVER / Oct 26, 2023 / Business Wire / Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced third quarter 2023 results and declared a third quarter dividend of $0.40 per share. Newmont Delivered a Stable Q3 Performance Produced 1.3 million attributable gold ounces and 58 thousand co-product gold equivalent ounces (GEOs)* from copper; building momentum for improved production in the fourth quarter Reported gold Costs Applicable to Sales (CAS) per ounce** of $1,019 and gold All-In Sustaining Costs (AISC) per ounce** of $1,426; improvement driven by higher sales volumes compared to the prior quarter Revised 2023 outlook for the standalone Newmont portfolio to 5.3 million ounces of attributable production, CAS per ounce** of $1,000 and AISC per ounce** of $1,400; incorporates the impacts of the strike at Peñasquito, and lower production volumes from non-managed joint ventures (Nevada Gold Mines and Pueblo Viejo) and Ahafo*** Generated $1.0 billion of cash from continuing operations and reported $397 million of Free Cash Flow**; driven by favorable working capital changes, while continuing to reinvest in profitable projects Reported Net Income of $163 million, with Adjusted Net Income (ANI)** of $0.36 per diluted share and Adjusted EBITDA** of $933 million; driven by higher production volumes, strong gold prices and stable costs Ended the quarter with $3.2 billion of consolidated cash and $6.2 billion of liquidity; reported net debt to adjusted EBITDA ratio of 0.7x** Resolved the Union labor strike at Peñasquito; focused on the safe ramp-up of operations in the fourth quarter Received Full Funds approval for the Pamour project at Porcupine; on track to deliver first ore in 2024 Declared commercial production at San Marcos; the first of six ore bodies in Cerro Negro District Expansion 1 Assigned an A- rating with a stable outlook from Fitch; reflects Newmont’s ability to generate strong liquidity On track to close the pending acquisition of Newcrest Mining Limited (\"Newcrest\") on November 6th; secured all government and regulatory approvals and shareholder votes Announced the addition of two Directors; welcoming Philip Aiken AM and Sally-Anne Layman from the Newcrest Board, with appointment to the Newmont Board of Directors effective upon close of the pending Newcrest transaction Third Quarter Dividend...

More updates from Newmont Corporation