\n| \n \n\u00a0\n<\/p>\n<\/td>\n | \n Q2’21<\/b><\/p>\n<\/td>\n | \n Q1’21<\/b><\/p>\n<\/td>\n | \n Q2’20<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nAttributable gold production (million ounces)\n<\/p>\n<\/td>\n | \n \n1.45\n<\/p>\n<\/td>\n | \n \n1.46\n<\/p>\n<\/td>\n | \n \n1.26\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nGold costs applicable to sales (CAS) ($ per ounce)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n755\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n752\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n748\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nGold all-in sustaining costs (AISC) ($ per ounce)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,035\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,039\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,097\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nGAAP Net income (US $ millions)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n640\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n538\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n412\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted net income (US $ millions)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n670\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n594\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n261\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted EBITDA (US $ millions)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,591\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n1,457\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n984\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCash flow from continuing operations (US $ millions)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n993\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n841\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n668\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCapital Expenditures (US $ millions)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n415\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n399\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n280\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nFree cash flow (US $ millions)\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n578\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n442\n<\/p>\n<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n388\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Attributable gold production1<\/sup><\/b> increased 15 percent to 1,449 thousand ounces from the prior year quarter primarily due to higher production from sites that were placed into care and maintenance or experienced reduced operations in response to Covid during 2020, and higher ore grade milled and higher mill throughput at Boddington. These increases were partially offset by lower mill availability and lower tons and grades mined at Nevada Gold Mines, the ramp down of the mill at Yanacocha during the first quarter of 2021 and a build-up of in-circuit inventory at Tanami as the mine was placed under care and maintenance in late-June as a result of Covid restrictions.\n<\/p>\nGold CAS<\/b> increased 16 percent to $1,091 million from the prior year quarter primarily due to higher gold ounces sold. Gold CAS per ounce2<\/sup><\/b> remained flat compared to the prior year quarter at $755 per ounce as higher maintenance costs and unfavorable Australian dollar foreign currency exchange rate were largely offset by higher ounces sold and higher by-product credits.\n<\/p>\nGold AISC3<\/sup><\/b> improved 6 percent to $1,035 per ounce from the prior year quarter primarily due to care and maintenance costs in the prior year, partially offset by higher sustaining capital spend.\n<\/p>\nAttributable gold equivalent ounce (GEO) production from other metals <\/b>increased 120 percent to 303 thousand ounces primarily due to higher production at Pe\u00f1asquito as the site was placed into care and maintenance in the prior year and higher ore grade milled, mill throughput and recoveries at Boddington.\n<\/p>\n CAS from other metals<\/b> totaled $190 million for the quarter. CAS per GEO2<\/sup><\/b> increased 13 percent to $629 per ounce from the prior year quarter primarily due to higher maintenance costs at Pe\u00f1asquito, unfavorable foreign currency impacts from the strengthening of the Australian dollar, higher allocation of costs to other metals and higher copper-price driven royalties, partially offset by higher other metal sales. AISC per GEO3<\/sup><\/b> improved 9 percent to $886 per ounce primarily due to lower treatment and refining costs and higher care and maintenance costs in the prior year, partially offset by higher CAS per GEO.\n<\/p>\nNet income<\/b> from continuing operations attributable to Newmont stockholders was $640 million or $0.80 per diluted share, an increase of $228 million from the prior year quarter primarily due to higher sales volumes and higher average realized prices in the current year. These increases were partially offset by higher income tax expense in the current year.\n<\/p>\n Adjusted net income4<\/sup><\/b>was $670 million or $0.83 per diluted share,compared to $261 million or $0.32 per diluted share in the prior year quarter. Primary adjustments to second quarter net income include changes in the fair value of investments, reclamation and remediation charges, asset impairment and valuation allowance and other tax adjustments.\n<\/p>\nAdjusted EBITDA5<\/sup><\/b> improved 62 percent to $1,591 million for the quarter, compared to $984 million for the prior year quarter.\n<\/p>\n\nRevenue <\/b>increased30 percent from the prior year quarter to $3,065 million primarily due to higher average realized metal prices and higher sales volumes.\n<\/p>\n Average realized price6<\/sup><\/b> for gold was $1,823, an increase of $99 per ounce over the prior year quarter. Average realized gold price includes $1,819 per ounce of gross price received, the favorable impact of $9 per ounce mark-to-market on provisionally-priced sales and reductions of $5 per ounce for treatment and refining charges.\n<\/p>\nCapital expenditures7<\/sup><\/b> increased 48 percent from the prior year quarter to $415 million primarily due to higher sustaining capital spend from sites that were placed into care and maintenance in response to Covid during 2020 and higher development capital spend. Development capital expenditures in 2021 primarily include advancing Tanami Expansion 2, Yanacocha Sulfides, Ahafo North, the Subika Mining Method Change, Cerro Negro expansion projects, Quecher Main and projects associated with the Company\u2019s ownership interest in Nevada Gold Mines.\n<\/p>\nConsolidated operating cash flow from continuing operations <\/b>increased 49 percent from the prior year quarter to $993 million primarily due to higher average realized metal prices, partially offset by an increase in tax payments and an increase in receivables related to timing. Free Cash Flow8<\/sup><\/b>alsoincreased to $578 million primarily due to higher operating cash flow, partially offset by higher capital expenditures as described above.\n<\/p>\nBalance sheet and liquidity <\/b>ended the quarter with $4.6 billion of consolidated cash and approximately $7.6 billion of liquidity; reported net debt to adjusted EBITDA of 0.2x9<\/sup>.\n<\/p>\nNevada Gold Mines (NGM) <\/b>attributable gold production was 284 thousand ounces with CAS of $753 per ounce and AISC of $985 per ounce for the second quarter. EBITDA10<\/sup> for NGM was $298 million.\n<\/p>\nPueblo Viejo (PV) <\/b>attributable gold production was 78 thousand ounces for the quarter. Pueblo Viejo EBITDA10<\/sup> was $111 million and cash distributions received for the Company’s equity method investment totaled $23 million in the second quarter.\n<\/p>\nCOVID-19 UPDATE<\/b><\/p>\n \nNewmont continues to maintain wide-ranging protective measures for its workforce and neighboring communities, including screening, physical distancing, deep cleaning and avoiding exposure for at-risk individuals. The Company incurred incremental Covid specific costs of $20 million during the quarter for activities such as additional health and safety procedures, increased transportation and community fund contributions. During the second quarter of 2020, the Newmont Global Community Support Fund was established to help host communities, governments and employees combat the Covid pandemic. Amounts distributed from this fund were $1 million during the quarter and have been adjusted from certain non-GAAP metrics. The remaining $19 million is not adjusted from our non-GAAP metrics.\n<\/p>\n \nWe have mobilized a Covid vaccine working group with representatives from across the globe. Newmont views vaccination as critical in the fight against Covid-19 and actively encourages our workforce to get vaccinated as they become eligible. We are working to support authorities, through our Global Community Support Fund, to improve the availability and deployment of vaccines to our workforce and host communities.\n<\/p>\n PROJECTS UPDATE<\/b><\/p>\n \nNewmont\u2019s capital-efficient project pipeline supports improving production, lowering costs and extending mine life. Funding for the current development capital projects Tanami Expansion 2 and Ahafo North has been approved and these projects are in the execution stage. The Company has included the Yanacocha Sulfides project in its long-term outlook as the project is currently scheduled to be approved for full funding in December 2021. Additional sustaining and development projects, not listed below, represent incremental improvements to the Company’s outlook.\n<\/p>\n \n\n- Tanami Expansion 2<\/span> (Australia) secures Tanami\u2019s future as a long-life, low-cost producer with potential to extend mine life beyond 2040 through the addition of a 1,460 meter hoisting shaft and supporting infrastructure to achieve 3.5 million tonnes per year of production and provide a platform for future growth. The expansion is expected to increase average annual gold production by approximately 150,000 to 200,000 ounces per year for the first five years and is expected to reduce operating costs by approximately 10 percent. Capital costs for the project are estimated to be between $850 million and $950 million with a commercial production date in the first half of 2024.\n<\/li>\n
- Ahafo North<\/span> (Africa) expands our existing footprint in Ghana with four open pit mines and a stand-alone mill located approximately 30 kilometers from the Company\u2019s Ahafo South operations. The project is expected to add between 275,000 and 325,000 ounces per year with all-in sustaining costs between $600 to $700 per ounce for the first five full years of production (2024-2028). Capital costs for the project are estimated to be between $750 and $850 million with a construction completion date in the second half of 2023 and commercial production in early-2024. Ahafo North is the best unmined gold deposit in West Africa with approximately 3.5 million ounces of Reserves and more than 1 million ounces of Measured and Indicated and Inferred Resource11<\/sup> and significant upside potential to extend beyond Ahafo North\u2019s current 13-year mine life.\n<\/li>\n
- Yanacocha Sulfides<\/span> (South America)12<\/sup> will develop the first phase of sulfide deposits and an integrated processing circuit, including an autoclave to process gold, copper and silver feedstock. The project is expected to add 500,000 gold equivalent ounces per year with all-in sustaining costs between $700 to $800 per ounce for the first five full years of production (2026-2030). An investment decision is expected in December 2021 with a three year development period and estimated capital costs of approximately $2 billion. The first phase focuses on developing the Yanacocha Verde and Chaquicocha deposits to extend Yanacocha\u2019s operations beyond 2040 with second and third phases having the potential to extend life for multiple decades.\n<\/li>\n<\/ul>\n
________________________________________________<\/i><\/p>\n\n\n| \n 1<\/sup><\/p>\n<\/td>\n| \n Attributable gold production for the second quarter 2021 includes 78 thousand ounces from the Company\u2019s equity method investment in Pueblo Viejo (40%).<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n 2<\/sup><\/p>\n<\/td>\n| \n Non-GAAP measure. See end of this release for reconciliation to Costs applicable to sales.<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n 3<\/sup><\/p>\n<\/td>\n| \n Non-GAAP measure. See end of this release for reconciliation to Costs applicable to sales.<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n 4<\/sup><\/p>\n<\/td>\n| \n Non-GAAP measure. See end of this release for reconciliation to Net income (loss) attributable to Newmont stockholders.<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n 5<\/sup><\/p>\n<\/td>\n| \n Non-GAAP measure. See end of this release for reconciliation to Net income (loss) attributable to Newmont stockholders.<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n 6<\/sup><\/p>\n<\/td>\n| \n Non-GAAP measure. See end of this release for reconciliation to Sales.<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n 7<\/sup><\/p>\n<\/td>\n| \n Capital expenditures refers to Additions to property plant and mine development from the Condensed Consolidated Statements of Cash Flows.<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n 8<\/sup><\/p>\n<\/td>\n| \n Non-GAAP measure. See end of this release for reconciliation to Net cash provided by operating activities.<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n 9<\/sup><\/p>\n<\/td>\n| \n Non-GAAP measure. See end of this release for reconciliation.<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n 10<\/sup><\/i><\/p>\n<\/td>\n| \n Non-GAAP measure. See end of this release for reconciliation.<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n 11<\/sup><\/i><\/p>\n<\/td>\n| \n See note to U.S. Investors at the end of this release; such resource estimate for Ahafo North is comprised of 610,000 ounces of Measured and Indicated Resource and 410,000 ounces of Inferred Resource as at December 31, 2020.<\/i><\/p>\n<\/td>\n<\/tr>\n\n| \n 12<\/sup><\/i><\/p>\n<\/td>\n| \n Consolidated basis.<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n OUTLOOK<\/b><\/p>\n \nNewmont\u2019s outlook reflects increasing gold production and ongoing investment in its operating assets and most promising growth prospects. The Company has included Yanacocha Sulfides in its outlook as the development project is expected to reach execution stage in December 2021. Additional development projects that have not reached execution stage represent upside to guidance. All production, cost and capital figures assume a $1,200\/oz gold price.\n<\/p>\n \nNewmont\u2019s 2021 and longer-term outlook assumes operations continue without major Covid-related interruptions. If at any point the Company determines that continuing operations poses an increased risk to our workforce or host communities, it will reduce operational activities up to, and including, care and maintenance and management of critical environmental systems. Please see cautionary statement in the end notes for additional information.\n<\/p>\n \n\nPlease see cautionary statement in the end notes for additional information. Investors are reminded that outlook is a range of plus or minus 5 percent of the midpoints noted below. For further discussion, investors are encouraged to attend Newmont\u2019s Second Quarter 2021 Earnings Conference Call.\n<\/p>\n \n\n| \n Five Year Cost and Production Outlook (+\/- 5%)<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nGuidance metric\n<\/p>\n<\/td>\n | \n 2021E<\/b><\/p>\n<\/td>\n | \n 2022E<\/b><\/p>\n<\/td>\n | \n 2023E<\/b><\/p>\n<\/td>\n | \n 2024E<\/b><\/p>\n<\/td>\n | \n 2025E<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nGold Production*<\/sup> (Moz)\n<\/p>\n<\/td>\n| \n \n6.5\n<\/p>\n<\/td>\n | \n \n6.2 – 6.7\n<\/p>\n<\/td>\n | \n \n6.2 – 6.7\n<\/p>\n<\/td>\n | \n \n6.5 – 7.0\n<\/p>\n<\/td>\n | \n \n6.5 – 7.0\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOther Metal Production**<\/sup> (Mozs)\n<\/p>\n<\/td>\n| \n \n1.3\n<\/p>\n<\/td>\n | \n \n1.2 – 1.4\n<\/p>\n<\/td>\n | \n \n1.4 – 1.6\n<\/p>\n<\/td>\n | \n \n1.4 – 1.6\n<\/p>\n<\/td>\n | \n \n1.4 – 1.6\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal GEO Production (Mozs)\n<\/p>\n<\/td>\n | \n \n7.8\n<\/p>\n<\/td>\n | \n \n7.5 – 8.0\n<\/p>\n<\/td>\n | \n \n7.7 – 8.2\n<\/p>\n<\/td>\n | \n \n8.0 – 8.5\n<\/p>\n<\/td>\n | \n \n8.0 – 8.5\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCAS***<\/sup> ($\/oz)\n<\/p>\n<\/td>\n| \n \n$750\n<\/p>\n<\/td>\n | \n \n$650 – $750\n<\/p>\n<\/td>\n | \n \n$625 – $725\n<\/p>\n<\/td>\n | \n \n$600 – $700\n<\/p>\n<\/td>\n | \n \n$600 – $700\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAll-in Sustaining Costs***<\/sup> ($\/oz)\n<\/p>\n<\/td>\n| \n \n$970\n<\/p>\n<\/td>\n | \n \n$850 – $950\n<\/p>\n<\/td>\n | \n \n$825 – $925\n<\/p>\n<\/td>\n | \n \n$800 – $900\n<\/p>\n<\/td>\n | \n \n$800 – $900\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nSustaining Capital*<\/sup> ($M)\n<\/p>\n<\/td>\n| \n \n$950\n<\/p>\n<\/td>\n | \n \n$900 – $1,100\n<\/p>\n<\/td>\n | \n \n$900 – $1,100\n<\/p>\n<\/td>\n | \n \n$900 – $1,100\n<\/p>\n<\/td>\n | \n \n$900 – $1,100\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDevelopment Capital*<\/sup> ($M)\n<\/p>\n<\/td>\n| \n \n$850\n<\/p>\n<\/td>\n | \n \n$1,000 – $1,200\n<\/p>\n<\/td>\n | \n \n$900 – $1,100\n<\/p>\n<\/td>\n | \n \n$200 – $400\n<\/p>\n<\/td>\n | \n \n$100 – $300\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nTotal Capital*<\/sup> ($M)\n<\/p>\n<\/td>\n| \n \n$1,800\n<\/p>\n<\/td>\n | \n \n$2,000 – $2,200\n<\/p>\n<\/td>\n | \n \n$1,900 – $2,100\n<\/p>\n<\/td>\n | \n \n$1,200 – $1,400\n<\/p>\n<\/td>\n | \n \n$1,100 – $1,300\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| \n *Attributable basis; **Attributable co-product gold equivalent ounces; includes copper, silver, lead and zinc; ***Consolidated basis for gold<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n| \n 2021 Consolidated Expense Outlook ($M) (+\/-5%)<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nGeneral & Administrative\n<\/p>\n<\/td>\n | \n \n260\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nInterest Expense\n<\/p>\n<\/td>\n | \n \n275\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDepreciation and Amortization\n<\/p>\n<\/td>\n | \n \n2,500\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nExploration & Advanced Projects\n<\/p>\n<\/td>\n | \n \n390\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted Tax Rate a,b<\/sup><\/p>\n<\/td>\n| \n \n34% – 38%\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nFederal Tax Rate b<\/sup><\/p>\n<\/td>\n| \n \n27% – 30%\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nMining Tax Rate b<\/sup><\/p>\n<\/td>\n| \n \n6% – 9%\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| \n a<\/sup><\/p>\n<\/td>\n| \n \nThe adjusted tax rate excludes certain items such as tax valuation allowance adjustments.\n<\/p>\n<\/td>\n<\/tr>\n | \n| \n b<\/sup><\/p>\n<\/td>\n| \n \nAssuming average prices of $1,500 per ounce for gold, $22 per ounce for silver, $2.75 per pound for copper, $0.90 per pound for lead, and $1.05 per pound for zinc and achievement of current production and sales volumes and cost estimates, we estimate our consolidated adjusted effective tax rate related to continuing operations for 2021 will be between 34%-38%.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |