 | |
| Formerly |
|
|---|---|
| Company type | Public |
| ISIN | US6516391066 |
| Industry | Metals andMining |
| Founded | 1921; 105 years ago (1921) |
| Founder | William Boyce Thompson |
| Headquarters | Denver, Colorado, U.S. |
Key people |
|
| Products | Gold,copper,silver,zinc,lead |
| Revenue |  US$18.7 billion (2024) |
| US$5.64 billion (2024) | |
| US$3.35 billion (2024) | |
| Total assets | US$56.3 billion (2024) |
| Total equity | US$30.1 billion (2024) |
Number of employees | 22,200 (2024) |
| Subsidiaries |
|
| Website | newmont |
| Footnotes / references [1] | |
Newmont Corporation is an Americangold mining company based inDenver, Colorado. It is the world's largest gold mining corporation.[2] Incorporated in 1921, it holds ownership of gold mines in theUnited States,Canada,Mexico, theDominican Republic,Australia,Ghana,Argentina,Peru, andSuriname. Newmont is also a partial owner ofNevada Gold Mines in Nevada withBarrick Mining being the majority owner and operator.[3] In addition to gold, Newmont minescopper,silver,zinc andlead.[4]
The Newmont Corporation bought Canadian mining companyGoldcorp in 2019 for USD $10 billion. In 2023, Newmont acquiredNewcrest Mining for USD $16.8 billion.
Newmont is the only gold mining company listed in the S&P 500, and has approximately 31,600 employees globally (this number does not reflect the approximately 5,000 global employees laid off from August through November 2025).[5]
The Newmont Company was founded in 1916 in New York byColonelWilliam Boyce Thompson as a holding company to invest in worldwidemineral,oil, and related companies. According to company lore, the name "Newmont" is a portmanteau "New York" and "Montana", reflecting where Thompson made his fortune and where he grew up. Newmont made its first major gold investment in 1917, with a founding 25 percent in theAnglo American Corporation of South Africa. Four years later, in 1921, the Newmont Company reincorporated as the Newmont Corporation.[6]
In 1929, Newmont became a mining company with its first gold product by acquiring California'sEmpire Star Mine. By 1939, Newmont was operating 12 gold mines in North America.
The company acquired interests overseas. For decades around the middle of the 20th century, Newmont had a controlling interest in theTsumeb mine inNamibia and in the O'Okiep Copper Company inNamaqualand,South Africa.
Beginning in 1925, Newmont acquired interests in aTexasoil field. Eventually, Newmont's oil interests included more than 70 blocks in the Louisiana,Gulf of Mexico area and oil and gas production in theNorth Sea.
Fred Searls became president in 1947, after serving as the company's exploration geologist. Searls retired in 1954, and Plato Malozemoff took over as president.[7]
Newmont began mining atCarlin, Nevada, in 1965. The "Carlin Trend" or "Carlin Unconformity" is the largest gold discovery in North America during the 20th century. In 1971 Newmont beganheap leaching low gradeores there.[8]
In 1971, theSouth-West African (nowNamibia) Tsumeb & Kombat mines managed by Newmont, had its operations stopped during the1971–72 Namibian contract workers strike over the contract labor system andapartheid.[9][10]
In the 1980s, Newmont thwarted five takeover bids – fromConsolidated Gold Fields (ConsGold),T. Boone Pickens,Minorco,Hanson Industries andJames Goldsmith – who sought to break Newmont apart and sell its assets in an attempt to increase shareholder value.
In 1987, defending against a $6.3 billion bid by T. Boone Pickens, the company paid a US$33 per share specialdividend to allshareholders, US$2.2 billion in cash, of which US$1.75 billion was borrowed. To reduce this debt the company undertook adivestment program involving all of its copper, oil, gas, andcoal interests.[11]
As a further step in the restructuring, the company moved its headquarters from New York City toDenver in 1988. A decade later, Newmont Mining Corporation and Newmont Gold Company combined assets to form a unified worldwide gold company. Shareholders of both companies had identical interests in the reserves, production and earnings of Newmont Gold's operations.
Newmont then merged with Santa Fe Railroad (a formerAtchison, Topeka & Santa Fe Railway subsidiary, sold in preparation for the merger that produced theBNSF[12]) to form North America's largest gold producer.
On June 21, 2000, Newmont announced a merger with Battle Mountain Gold. The merger was completed in January 2001.
In February 2002, Newmont completed the acquisition ofNormandy Mining andFranco-Nevada. Newmont faced competition in its bid for Normandy fromAngloGold. By eventually outbidding the South African company, Newmont became theworld's largest gold producer, with an annual production in excess of 8 million ounces.[13]
In 2007, the company eliminated its 1.5 million ounce legacy hedge book to make Newmont the world's largest unhedged gold producer. The following year, Newmont acquired Miramar Mining Corporation and its Hope Bay deposit in the Canadian Arctic.
In 2009, Newmont purchased the remaining one-third interest in Boddington Gold Mine from AngloGold Ashanti, bringing its ownership to 100 percent.
In April 2011, the company acquired Canada's Fronteer Gold Inc. for CA$2.3 billion. This made the company the world's second-largest gold producer.[14]
In 2017, Newmont produced 5.65 million ounces of gold at all-in sustaining costs of US$924 per ounce.[15] The company reported adjusted net income of $780 million for the year,[15] and further reduced net debt down to US$0.8 billion.[15]
In 2019, it acquired Canada'sGoldcorp for $10 billion.[16] In May 2023, Newmont agreed terms to purchaseNewcrest.[17][18] The deal was completed in November 2023.[19]
In 2025, Newmont completed the integration of Newcrest Mining following its US$17 billion acquisition finalized in 2024, creating one of the largest gold and copper producers globally.[20][21] As part of a portfolio optimization strategy, the company completed a non-core asset divestiture program announced in 2024, generating up to US$4.3 billion in gross proceeds through the sale of operations including Musselwhite, Éléonore, Cripple Creek & Victor, Akyem, and Porcupine.[22][23] Operationally, Newmont achieved commercial production at its Ahafo North project in Ghana in October 2025, following a first gold pour in September.[24][25] Financially, the company reported record free cash flow of US$1.6 billion in the third quarter of 2025, its fourth consecutive quarter above US$1 billion, alongside revenue of US$5.52 billion and net income of US$1.84 billion.[26] In December 2025, Chief Executive Officer Tom Palmer announced his retirement, with Natascha Viljoen appointed as his successor effective January 2026, becoming the company’s first female CEO.[27] The company also advanced its sustainability goals, investing US$500 million in environmental, social, and governance programs and reporting progress toward its 2050 net-zero target, including reductions in carbon emissions and expanded water stewardship initiatives.[28][29]
In August 2004, the Indonesian Ministry of Environment filed a civil lawsuit against Newmont,[30] claimingtailings from the company's Minahasa Raya minepollutedBuyat Bay. The company was cleared by an Indonesian court, with the judge ruling the pollution charges could not be proven.[31]
In 2009, Newmont earned the ironicPublic Eye on Davos award (a criticism for "purely profit-oriented globalization") for its Akyem project in Ghana. Newmont said the award was issued based on several paragraphs of text which “clearly were intended to distort the facts”.[32]
In 2010, Newmont was fined $4.9 million by the Ghanaian Environmental Protection Agency for not preventing, reporting and investigating a cyanide spill atAhafo mine in an "appropriate and timely manner".[33]
In May 2025, Newmont Corporation was fined $350,000 by the New South Wales Environment Protection Authority for envioronmental violations discovered at the company's Cadia gold mine. The ventilation site exceeded the limits for airborne solid dust particles on five occasions between 2021 and 2023. In addition to the fine, Newmont was ordered to pay NSW's Department of Climate Change, Energy, the Environment and Water $61,500 to fund a new dust monitoring system.[34]
In 2025, Newmont faced multiple class action lawsuits alleging violations of federal securities laws. The suits claim that between February 22, 2024, and October 23, 2024, the company and its executives made false or misleading statements regarding production capabilities and cost management at Tier 1 assets, including Lihir in Papua New Guinea and Brucejack in Canada. These allegations followed disappointing third-quarter 2024 results, which revealed lower production and higher costs, causing Newmont's stock price to fall sharply.[35][36]
In January 2025, three people were killed and four injured during a confrontation between local residents and police contracted by Newmont at its Ahafo South Mine in Ghana. Reports indicate the incident occurred when locals allegedly attempted to extract leftover gold from a tailings dam. Civil society organizations called for an independent investigation into human rights abuses and criticized Newmont’s security protocols.[37][38]
In July 2025, Newmont’s Red Chris Mine in British Columbia suspended operations following two fall-of-ground incidents that trapped workers. The mine also faced criticism for selenium contamination in the Stikine River watershed, which environmental groups argue threatens salmon populations and Indigenous communities. These issues raised concerns about Newmont’s environmental and safety practices.[39][40]
Newmont continued to face legal challenges and community opposition regarding its proposed Conga gold and copper mine in Peru. In April 2025, a Peruvian appeals court overturned a previous ruling that had halted the project due to environmental concerns, ordering a new judgment. Local communities and NGOs argue the mine threatens water sources and human rights, fueling protests and reputational risks for the company.[41][42]
| Asset | Country | Ownership[43] | Mine Type | Metals | Projected attributable gold production in 2021 (troy ounces)[44] | Attributable gold reserves in 2020 (troy ounces)[45] |
|---|---|---|---|---|---|---|
| Cripple Creek & Victor Gold Mine |  United States | 100% | Surface | Gold, Silver | 260,000 | 2.49 million |
| Nevada Gold Mines (operated by Barrick) | United States | 38.5% | 10 Underground, 12 Surface | Gold, Copper, Silver | 1.37 million | 17.39 million |
| Éléonore |  Canada | 100% | Underground | Gold | 270,000 | 1.26 million |
| Musselwhite mine | Canada | 100% | Underground | Gold | 200,000 | 1.79 million |
| Porcupine mine | Canada | 100% | Underground, Open Pit, Stockpiles | Gold | 360,000 | 3.05 million |
| Peñasquito Mine |  Mexico | 100% | Open Pit | Gold, Silver, Lead, Zinc | 660,000 | 7.1 million |
| Cerro Negro mine |  Argentina | 100% | Underground | Gold | 270,000 | 2.57 million |
| Merian |  Suriname | 75% | Surface | Gold | 320,000 | 3.97 million |
| Pueblo Viejo mine (operated by Barrick) |  Dominican Republic | 40% | Open Pit | Gold | 325,000 | 4.11 million |
| Yanacocha |  Peru | 100%[46] | Surface | Gold | 160,000 | 3.41 million |
| Ahafo mine |  Ghana | 100% | Surface | Gold | 515,000 | 6.06 million |
| Akyem | Ghana | 100% | Surface | Gold | 400,000 | 2.27 million |
| Boddington Gold Mine |  Australia | 100% | Surface | Gold, Copper | 830,000 | 12.69 million |
| Tanami Mine | Australia | 100% | Underground | Gold | 500,000 | 5.87 million |
Newmont has purchased and sold a number of operations in recent years:
Major mining companies | |
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Methodology: Companies with annual revenues over US$25 billion | |
| International | |
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| National | |
| Other | |
