Newmont Announces 2023 Mineral Reserves for Integrated Company of 136 Million Gold Ounces with Robust Copper Optionality of 30 Billion Pounds, by @businesswire

Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) reported higher gold Mineral Reserves ("reserves") of 135.9 million attributable ounces for 2023 compared to the Company’s 96.1 million ounces at the end of 2022. Newmont has significant upside to other metals, including more than 30 billion pounds of copper reserves and nearly 600 million ounces of silver reserves.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240222480917/en/

Percentage of Gold Reserves by Jurisdiction (Graphic: Business Wire)

"Newmont has strengthened its position as the responsible gold leader with the industry's highest concentration of quality operations, reserves and resources," said Tom Palmer, Newmont's President and Chief Executive Officer. "In 2023, we added more than 47 million ounces of gold reserves and 14 billion pounds of copper reserves through the acquisition of Newcrest and the continuation of our industry-leading exploration program. With the largest gold and copper reserve base in the industry, Newmont is well-positioned to deliver stable production and meaningful value to stakeholders today and in the future."

2023 Reserves & Resources Highlights

Robust gold reserves of 135.9 million ounces
Newcrest acquisition accounted for net addition of 44 million ounces of gold reserves in 2023 (net of revisions)
Nearly all gold and copper reserves and resources are attributable to the Newmont Tier 1 Portfolio¹
Underpinned by a strong base of operating sites with gold reserve life of 10 years or more, including Boddington, Lihir, Cadia, Tanami, Ahafo, Merian, Pueblo Viejo and Nevada Gold Mines (NGM), and further enhanced by Newmont's broader portfolio and organic project pipeline
Measured & Indicated Gold Mineral Resources of 104.8 million ounces and Inferred Resources of 69.1 million ounces
Significant exposure to copper with 30.1 billion pounds in reserves, 33.1 billion pounds in Measured & Indicated resources and 24.0 billion pounds in Inferred resources; nearly all copper reserves and resources are attributable to the Newmont Tier 1 Portfolio¹
Additional exposure to other metals including silver, lead, zinc, and molybdenum

Percentage of Gold Reserves by Jurisdiction²

Newmont’s reserve base is a key differentiator with an average reserve grade of 0.97 grams per tonne and an operating reserve life of more than ten years at six managed sites and two non-managed joint ventures, with significant upside potential from a robust organic project pipeline. In addition, Newmont has substantial exposure to other metals, with 112 million gold equivalent ounces³ of reserves from copper, silver, lead, zinc, and molybdenum.

PROVEN AND PROBABLE GOLD RESERVES¹
In thousands of ounces
2022 Gold Reserves	96.1
Additions	2.8
Acquisitions⁴	55.9
Net Revisions	(11.6	)
Depletion	(7.3	)
2023 Gold Reserves	135.9

For 2023, Newmont reported 135.9 million ounces of gold Mineral Reserves, a 41 percent increase from the prior year total of 96.1 million ounces. The acquisition of Newcrest drove the increase by adding a net 44.3 million ounces after revisions, primarily due to changes in regulatory requirements and technical assumptions.

The gold reserve increases were primarily driven by Lihir and Cadia acquired in the Newcrest transaction; notably,

Lihir added 17.5 million ounces of reserves, with a projected mine life of 16 years
Cadia added 14.7 million ounces of reserves, with a projected mine life of 34 years

These increases were supported by over 3 million ounces at the Brucejack mine, over 5 million ounces at the Wafi-Golpu project and nearly 4 million ounces the Red Chris project.

Newmont’s legacy sites had additions through drilling of 2.2 million ounces, which were offset by net negative revisions of 1.8 million ounces driven by Peñasquito, Tanami, Musselwhite and Ahafo. Peñasquito site had net negative revisions of 0.6 million ounces, before depletion, primarily due to an updated resource model that will further support future production planning. Sites including Éléonore, Porcupine, Cerro Negro and Merian substantially replaced depletion.

Newmont’s 38.5 percent interest in NGM represented 18.3 million attributable ounces of gold reserves at year end, compared to 18.6 million ounces at the end of 2022. Newmont's 40 percent interest in Pueblo Viejo represented 8.0 million attributable ounces of gold reserves at year end, compared to 8.2 million ounces at the end of 2022.

Gold reserve grade decreased 10 percent to 0.97 grams per tonne compared to 1.09 grams per tonne in the prior year, primarily due to the lower grade of the acquired Newcrest assets.

GOLD RESOURCES⁵
In thousands of ounces
2022 Gold Resources	111.5
Additions	5.8
Acquisitions⁴	74.6
Net Revisions	(11.9	)
Conversions	(6.1	)
2023 Gold Resources	173.9

In 2023, Newmont reported Measured and Indicated Gold Mineral Resources of 104.8 million ounces, a 39 percent increase from the prior year total of 75.3 million ounces. Inferred Gold Mineral Resources totaled 69.1 million ounces, a 91 percent increase from the prior year total of 36.1 million ounces. The Newcrest acquisition added a total of 66.1 million ounces of resource growth to the Newmont portfolio, with reported Measured and Indicated Gold Mineral Resources of 32.3 million ounces and Inferred Gold Mineral Resources of 33.8 million ounces.

Total Mineral Resources at Newmont's legacy sites were largely unchanged from 2022, with 90.4 million ounces in 2023 compared to 92.3 million ounces in 2022. Significant growth in resources was supported by the acquisition of the Tier 1 assets at Cadia and Lihir, with the addition of 20.6 and 20.2 million ounces, respectively. The newly acquired projects of Wafi-Golpu, Namosi and Red Chris contributed nearly 17 million ounces of total resources.

Total Mineral Resources at Tanami increased by approximately 1.0 million ounces due to the addition of the Oberon Underground project. Total Mineral Resources at Peñasquito decreased by 2.2 million ounces due to the updated resource model and technical assumptions that resulted in the removal of a resource layback at the Peñasco pit. The layback could come back into Mineral Resources pending additional optimization work, including cost reductions, metallurgical recovery enhancements and metal price increases.

Newmont’s Measured and Indicated Gold Mineral Resource grade decreased to 0.57 grams per tonne compared to 0.67 grams per tonne in the prior year. Inferred Gold Mineral Resource grade of 0.6 grams per tonne decreased compared to 0.7 grams per tonne in the prior year.

OTHER METALS

In 2023, copper reserves and resources increased significantly, primarily due to the addition of the assets acquired in the Newcrest transaction, particularly Cadia, Wafi-Golpu and Red Chris. Copper reserves increased to 30.1 billion pounds from 15.7 billion pounds in the prior year, with a 20 percent increase in reserve grade from 0.29% in 2022 to 0.35% in 2023. Measured and Indicated copper resources increased to 33.1 billion pounds from 17.9 billion pounds. Inferred copper resources increased to 24.0 billion pounds from 8.6 billion pounds.

Silver reserves were largely stable at 596 million ounces compared to 593 million ounces in the prior year, primarily due to the addition of the assets acquired in the Newcrest transaction, specifically Brucejack and Cadia, which offset depletion and negative revisions at Peñasquito as a result of the updated resource model. Silver resources decreased during the year due to the impact of the negative revisions at Peñasquito, which were partially offset by the Newcrest asset additions. Measured and Indicated silver resources decreased to 457 million ounces from 500 million ounces in the prior year. Inferred silver resources decreased to 108 million ounces from 152 million ounces in the prior year.

Lead and zinc reserves and resources were impacted by the updated resource model at Peñasquito. Lead reserves decreased to 2.1 billion pounds from 2.3 billion pounds, Measured and Indicated lead resources decreased to 1.4 billion pounds from 1.6 billion pounds, and Inferred lead resources decreased to 100 million pounds from 440 million pounds in the prior year. Zinc reserves decreased to 4.9 billion pounds from 5.5 billion pounds, Measured and Indicated zinc resources decreased to 3.3 billion pounds from 3.7 billion pounds, and Inferred zinc resources decreased to 0.3 billion pounds from 1.0 billion pounds in the prior year.

Molybdenum reserves of 500 million pounds were declared in the current year due to the addition of the operating site at Cadia. Measured and Indicated molybdenum resources increased to 200 million pounds, with Inferred molybdenum resources of 100 million pounds.

NOTES ON NEWMONT’S DECLARATION

Newmont has reported the assets acquired in the Newcrest transaction in accordance with the Securities and Exchange Commission’s (SEC’s) rule S-K 1300 which has different requirements than those in the Joint Ore Reserves Committee (JORC) 2012 guidance, which was the ruling the assets were previously declared under. These differences include a requirement to report only the attributable portion of the company’s Mineral Reserves and Mineral Resources and to report Mineral Resources as Exclusive of Reserves, whereas the previous declaration of Mineral Resources were at 100% and included the metal also declared as Mineral Reserves.

EXPLORATION OUTLOOK

Newmont’s attributable exploration expenditure for managed operations is expected to be approximately $270 million in 2024 with 70 percent of total exploration investment dedicated to near-mine expansion programs and brownfields and the remaining 30 percent allocated to the advancement of greenfield projects.

Additionally, Newmont’s share of exploration investment for its non-managed operations is expected to be approximately $30 million, for a total consolidated exploration expense outlook of $300 million for 2024.

Geographically, the Company expects to invest approximately 27 percent in North America, 22 percent in Australia, 21 percent in South America and the remainder in Papua New Guinea, Africa and other locations.

GOLD RESERVE SENSITIVITY

A $100 increase in gold price would result in an approximate 5 percent increase in gold reserves while a $100 decrease in gold price would result in an approximate 6 percent decrease in gold reserves. These sensitivities assume an oil price of $75 per barrel (WTI), Australian dollar exchange rate of $0.70 and Canadian dollar exchange rate of $0.75. These sensitivities assume all other inputs remain equal, including all cost and capital assumptions, which may also have a material impact on these approximate estimates.

KEY RESERVE AND RESOURCE ASSUMPTIONS⁶

	At December 31,
	2023	2022
Gold Reserves ($/oz)	$1,400	$1,400
Gold Resources ($/oz)	$1,600	$1,600
Copper Reserves ($/lb)	$3.50	$3.50
Copper Resources ($/lb)	$4.00	$4.00
Silver Reserves ($/oz)	$20.00	$20.00
Silver Resources ($/oz)	$23.00	$23.00
Lead Reserves ($/lb)	$1.00	$1.00
Lead Resources ($/lb)	$1.20	$1.20
Zinc Reserves ($/lb)	$1.20	$1.20
Zinc Resources ($/lb)	$1.45	$1.45
Molybdenum Reserves ($/lb)	$8.00	—
Molybdenum Resources ($/lb)	$10.00	—
Tungsten Resources ($/lb)	$16.00	—
Australian Dollar (A$:US$)	$0.70	$0.75
Canadian Dollar (C$:US$)	$0.75	$0.80
West Texas Intermediate ($/bbl)	$75.00	$85.00

For additional details on Newmont’s reported gold, copper, silver, lead, zinc, molybdenum and tungsten Mineral Reserves and Mineral Resources, please refer to the tables at the end of this release.

_________________________

¹ Newmont’s go-forward portfolio is focused on Tier 1 assets, consisting of (1) six managed Tier 1 assets (Boddington, Tanami, Cadia, Lihir, Peñasquito and Ahafo), (2) assets owned through two non-managed joint ventures at Nevada Gold Mines and Pueblo Viejo, including four Tier 1 assets (Carlin, Cortez, Turquoise Ridge and Pueblo Viejo), (3) three emerging Tier 1 assets (Merian, Cerro Negro and Yanacocha), which do not currently meet the criteria for Tier 1 Asset, and (4) an emerging Tier 1 district in the Golden Triangle in British Columbia (Red Chris and Brucejack), which does not currently meet the criteria for Tier 1 Asset. Newmont’s Tier 1 portfolio also includes attributable production from the Company’s equity interest in Lundin Gold (Fruta del Norte). Tier 1 Portfolio cost and capital metrics include the proportional share of the Company’s interest in the Nevada Gold Mines Joint Venture.

² North America includes 38.5 percent interest in Nevada Gold Mines; South America includes Newmont's 40 percent interest in Pueblo Viejo.

³ Gold Equivalent Ounces (GEOs) are calculated using 2023 Mineral Reserve pricing for Gold ($1,400/oz.), Copper ($3.50/lb.), Silver ($20.00/oz.), Lead ($1.00/lb.), Zinc ($1.20/lb.) and Molybdenum ($8.00/lb.) and Resource pricing for Gold ($1,600/oz.), Copper ($4.00/lb.), Silver ($23.00/oz.), Lead ($1.20/lb.), Zinc ($1.45/lb.), Molybdenum ($10.00/lb.), Tungsten ($16.00/lb.) and metallurgical recoveries for each metal on a site by site basis, as metal * [(metal price * metal recovery) / (gold price * gold recovery)].

⁴ In 2023, Newmont completed the acquisition of Newcrest Mining Limited ("Newcrest").

⁵Includes Measured and Indicated Gold Mineral Resources and Inferred Gold Mineral Resources.

⁶ For 2023 and 2022, Newmont reserves and resources were estimated using the price assumptions noted above, except for certain sites acquired through the Newcrest transaction, which have used more conservative price assumptions. Refer to the reserves and resources tables below for additional details.

RESERVE AND RESOURCE TABLES

Proven and probable reserves are based on extensive drilling, sampling, mine modeling and metallurgical testing from which Newmont determined economic feasibility. The reference point for mineral reserves is the point of delivery to the process plant. Metal price assumptions, adjusted for Newmont's exchange rate assumption, are based on considering such factors as market forecasts, industry consensus and management estimates. The price sensitivity of reserves depends upon several factors including grade, metallurgical recovery, operating cost, waste-to-ore ratio and ore type. Metallurgical recovery rates vary depending on the metallurgical properties of each deposit and the production process used. The reserve tables below list the average metallurgical recovery rate for each deposit, which takes into account the relevant processing methods. The cut-off grade, or lowest grade of mineralization considered economic to process, varies between deposits depending upon prevailing economic conditions, mineability of the deposit, by-products, amenability of the ore to gold, copper, silver, lead, zinc or molybdenum extraction and type of milling or leaching facilities available. Reserve estimates may have non-material differences in comparison to our joint venture partners due to differences in classification and rounding methodology.

The proven and probable reserve figures presented herein are estimates based on information available at the time of calculation. No assurance can be given that the indicated levels of recovery of gold, copper, silver, lead, zinc and molybdenum will be realized. Ounces of gold or silver or pounds of copper, lead, zinc or molybdenum included in the proven and probable reserves are those contained prior to losses during metallurgical treatment. Reserve estimates may require revision based on actual production. Market fluctuations in the price of gold, copper, silver, lead, zinc and molybdenum, as well as increased production costs or reduced metallurgical recovery rates, could render certain proven and probable reserves containing higher cost reserves uneconomic to exploit and might result in a reduction of reserves.

The measured, indicated, and inferred resource figures presented herein are estimates based on information available at the time of calculation and are exclusive of reserves. A “mineral resource” is a concentration or occurrence of solid material of economic interest in or on the Earth’s crust in such form, grade, or quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade or quality, continuity and other geological characteristics of a mineral resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling. The reference point for mineral resources is in situ. Mineral resources are sub-divided, in order of increasing geological confidence, into inferred, indicated and measured categories. Ounces of gold and silver or pounds of copper, zinc, lead, molybdenum and tungsten included in the measured, indicated and inferred resources are those contained prior to losses during metallurgical treatment. The terms "measured resource," "indicated resource," and "inferred resource" mean that part of a mineral resource for which quantity and grade or quality are estimated on the basis of geological evidence and sampling that is considered to be comprehensive, adequate, or limited, respectively. Market fluctuations in the price of gold, silver, copper, zinc, lead, molybdenum and tungsten as well as increased production costs or reduced metallurgical recovery rates, could change future estimates of resources.

Newmont publishes reserves annually, and will recalculate reserves at December 31, 2024, taking into account metal prices, changes, if any, to future production and capital costs, divestments and depletion as well as any acquisitions and additions during 2024.

Please refer to the reserves and resources cautionary statement at the end of the release.

Gold Reserves⁽¹⁾
December 31, 2023												December 31, 2022
		Proven Reserves			Probable Reserves			Proven and Probable Reserves				Proven and Probable Reserves
Deposits/Districts	Newmont Share	Tonnage⁽²⁾(000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾(000)	Tonnage⁽²⁾(000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾(000)	Tonnage⁽²⁾(000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾(000)	Metallurgical Recovery⁽³⁾	Tonnage⁽²⁾(000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾(000)
CC&V Open Pit	100%	38,800	0.42	500	7,800	0.35	100	46,600	0.40	600	58%	61,400	0.37	740
CC&V Leach Pads⁽⁴⁾	100%	—	—	—	28,300	0.74	700	28,300	0.74	700	56%	32,600	0.78	820
Total CC&V, United States⁽⁵⁾		38,800	0.42	500	36,100	0.66	800	75,000	0.53	1,300	57%	94,000	0.52	1,560
Musselwhite, Canada ⁽⁶⁾	100%	3,200	6.78	700	3,800	6.30	800	7,000	6.52	1,500	96%	10,400	5.76	1,920
Porcupine Underground ⁽⁷⁾	100%	1,400	7.06	300	1,600	8.34	400	3,000	7.75	700	94%	2,500	8.49	690
Porcupine Open Pit ⁽⁸⁾	100%	3,200	1.43	100	26,600	1.54	1,300	29,700	1.53	1,500	93%	34,500	1.46	1,610
Total Porcupine, Canada		4,500	3.14	500	28,200	1.93	1,700	32,700	2.10	2,200	93%	37,000	1.93	2,300
Éléonore, Canada ⁽⁹⁾	100%	2,100	5.08	300	6,800	5.47	1,200	8,900	5.38	1,500	92%	9,400	5.22	1,570
Red Chris Open Pit	70%	—	—	—	30,200	0.37	300	30,200	0.37	300	53%	—	—	—
Red Chris Underground	70%	—	—	—	171,700	0.64	3,500	171,700	0.64	3,500	70%	—	—	—
Total Red Chris, Canada ^(10)(33)		—	—	—	201,900	0.60	3,900	201,900	0.60	3,900	68%	—	—	—
Brucejack, Canada ^(11)(33)	100%	—	—	—	11,500	8.44	3,100	11,500	8.44	3,100	96%	—	—	—
Peñasquito, Mexico ^(12)(31)	100%	123,700	0.57	2,200	167,300	0.44	2,400	291,000	0.50	4,600	59%	316,500	0.53	5,410
Merian, Suriname ⁽¹³⁾	75%	29,600	1.19	1,100	74,400	1.15	2,800	104,000	1.16	3,900	93%	104,800	1.16	3,900
Cerro Negro, Argentina ⁽¹⁴⁾	100%	1,900	11.81	700	7,300	10.75	2,500	9,200	10.97	3,200	94%	9,400	10.02	3,030
Yanacocha Open Pit ⁽¹⁵⁾	100%	21,700	0.80	600	107,000	0.75	2,600	128,600	0.76	3,200	56%	146,500	0.72	3,380
Yanacocha Underground ⁽¹⁶⁾	100%	—	—	—	12,300	6.06	2,400	12,300	6.06	2,400	97%	12,300	6.06	2,400
Total Yanacocha, Peru⁽³¹⁾		21,700	0.80	600	119,200	1.30	5,000	140,900	1.22	5,500	73%	158,800	1.13	5,780
Pueblo Viejo Open Pit	40%	25,800	2.28	1,900	50,800	2.08	3,400	76,600	2.15	5,300	82%	78,500	2.19	5,530
Pueblo Viejo Stockpiles ⁽¹⁷⁾	40%	—	—	—	39,700	2.12	2,700	39,700	2.12	2,700	83%	38,200	2.17	2,670
Total Pueblo Viejo, Dominican Republic ^(18)(31)		25,800	2.28	1,900	90,500	2.10	6,100	116,300	2.14	8,000	82%	116,600	2.19	8,200
NuevaUnión, Chile ^(19)(30)	50%	—	—	—	341,100	0.47	5,100	341,100	0.47	5,100	66%	341,100	0.47	5,110
Norte Abierto, Chile ^(20)(30)	50%	—	—	—	598,800	0.60	11,600	598,800	0.60	11,600	74%	598,800	0.60	11,620
Boddington Open Pit	100%	215,300	0.67	4,600	192,600	0.64	3,900	407,900	0.66	8,600	85%	446,700	0.66	9,490
Boddington Stockpiles ⁽¹⁷⁾	100%	2,000	0.72	—	70,000	0.43	1,000	72,000	0.44	1,000	80%	78,300	0.43	1,090
Total Boddington, Australia ⁽¹⁰⁾		217,300	0.67	4,700	262,600	0.58	4,900	479,900	0.62	9,600	84%	524,900	0.63	10,580
Tanami, Australia ⁽²¹⁾	100%	9,900	5.58	1,800	16,600	5.71	3,100	26,600	5.66	4,800	98%	33,000	5.34	5,660
Cadia, Australia ^(22)(31)(33)	100%	—	—	—	1,102,300	0.42	14,700	1,102,300	0.42	14,700	81%	—	—	—
Lihir Open Pits	100%	—	—	—	159,900	2.76	14,200	159,900	2.76	14,200	78%	—	—	—
Lihir Stockpiles ⁽¹⁷⁾	100%	—	—	—	57,200	1.83	3,400	57,200	1.83	3,400	78%	—	—	—
Total Lihir, Papua New Guinea ^(23)(31)(33)		—	—	—	217,100	2.51	17,500	217,100	2.51	17,500	78%	—	—	—
Wafi-Golpu, Papua New Guinea^(10)(30)(33)	50%	—	—	—	194,500	0.82	5,100	194,500	0.82	5,100	68%	—	—	—
Ahafo South Open Pit ⁽²⁴⁾	100%	5,200	2.76	500	35,500	1.68	1,900	40,700	1.82	2,400	90%	47,600	1.81	2,770
Ahafo South Underground ⁽²⁵⁾	100%	8,300	3.13	800	14,300	2.35	1,100	22,600	2.64	1,900	94%	22,600	3.06	2,230
Ahafo South Stockpiles ^(17)(26)	100%	23,400	1.01	800	—	—	—	23,400	1.01	800	91%	22,100	0.91	640
Total Ahafo South, Ghana		36,900	1.73	2,100	49,800	1.88	3,000	86,700	1.82	5,100	92%	92,300	1.90	5,650
Ahafo North, Ghana ⁽²⁷⁾	100%	26,000	2.38	2,000	27,100	2.43	2,100	53,100	2.41	4,100	91%	50,100	2.37	3,820
Akyem Open Pit	100%	13,000	1.52	600	5,900	1.61	300	19,000	1.55	900	90%	22,300	1.66	1,190
Akyem Stockpiles⁽¹⁷⁾	100%	6,700	0.78	200	—	—	—	6,700	0.78	200	90%	11,900	0.71	270
Total Akyem, Ghana⁽²⁸⁾		19,700	1.27	800	5,900	1.61	300	25,600	1.35	1,100	90%	34,200	1.33	1,460
NGM Open Pit	38.5%	—	—	—	154,700	1.01	5,000	154,700	1.01	5,000	77%	159,400	1.00	5,110
NGM Stockpiles ⁽¹⁷⁾	38.5%	15,100	2.01	1,000	14,000	2.44	1,100	29,100	2.22	2,100	69%	25,100	2.32	1,880
NGM Underground	38.5%	5,100	11.58	1,900	35,100	8.19	9,300	40,200	8.62	11,100	87%	41,300	8.75	11,610
Total NGM, United States ⁽²⁹⁾		20,200	4.42	2,900	203,900	2.35	15,400	224,100	2.54	18,300	82%	225,800	2.56	18,590
Total Gold		581,400	1.22	22,800	3,766,800	0.94	113,200	4,348,100	0.97	135,900	80%	2,757,100	1.09	96,140

⁽¹⁾		Gold reserves, at sites in which Newmont is the operator for 2023 and 2022, were estimated at a gold price of $1,400 per ounce, unless otherwise noted. Reserves provided by other operators may use pricing that differs. Amounts presented may not recalculate in total due to rounding.
⁽²⁾		Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to the nearest 100,000.
⁽³⁾		Ounces are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Ounces may not recalculate as they are rounded to the nearest 100,000 in 2023 and nearest 10,000 in 2022.
⁽⁴⁾		Leach pad material is the material on leach pads at the end of the year from which gold remains to be recovered. In-process reserves are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.
⁽⁵⁾		Cut-off grade utilized in 2023 reserves not less than 0.10 gram per tonne.
⁽⁶⁾		Cut-off grade utilized in 2023 reserves not less than 3.80 gram per tonne.
⁽⁷⁾		Cut-off grade utilized in 2023 reserves not less than 4.89 gram per tonne.
⁽⁸⁾		Cut-off grade utilized in 2023 reserves not less than 0.64 gram per tonne.
⁽⁹⁾		Cut-off grade utilized in 2023 reserves not less than 4.11 gram per tonne.
⁽¹⁰⁾		Gold cut-off grade varies with level of copper credits.
⁽¹¹⁾		Gold cut-off grade varies with level of silver credits.
⁽¹²⁾		Gold cut-off grade varies with level of silver, lead, and zinc credits.
⁽¹³⁾		Cut-off grade utilized in 2023 reserves not less than 0.29 gram per tonne.
⁽¹⁴⁾		Cut-off grade utilized in 2023 reserves not less than 4.30 gram per tonne.
⁽¹⁵⁾		Gold cut-off grades utilized in 2023 reserves were as follows: oxide leach material not less than 0.14 gram per tonne and refractory mill material not less than 1.23 gram per tonne.
⁽¹⁶⁾		Gold cut-off grades utilized in 2023 were as follows: oxide mill material not less than 3.37 gram per tonne and refractory mill material varies with level of copper and silver credits.
⁽¹⁷⁾		Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.
⁽¹⁸⁾		The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Reserve estimates provided by Barrick, the operator of Pueblo Viejo.
⁽¹⁹⁾		Project is currently undeveloped. Reserve estimates provided by the NuevaUnión joint venture.
⁽²⁰⁾		Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture.
⁽²¹⁾		Cut-off grade utilized in 2023 reserves not less than 2.40 gram per tonne.
⁽²²⁾		Gold cut-off grade varies with level of copper, silver, and molybdenum credits.
⁽²³⁾		Cut-off grade utilized in 2023 reserves not less than 1.20 gram per tonne.
⁽²⁴⁾		Cut-off grade utilized in 2023 reserves not less than 0.63 gram per tonne.
⁽²⁵⁾		Cut-off grade utilized in 2023 reserves not less than 2.20 gram per tonne.
⁽²⁶⁾		Cut-off grade utilized in 2023 reserves not less than 0.56 gram per tonne.
⁽²⁷⁾		Cut-off grade utilized in 2023 reserves not less than 0.58 gram per tonne.
⁽²⁸⁾		Cut-off grade utilized in 2023 reserves not less than 0.52 gram per tonne.
⁽²⁹⁾		Reserve estimates provided by Barrick, the operator of the NGM joint venture.
⁽³⁰⁾		Currently included in Corporate and Other which includes the Company's business activities relating to its corporate and regional offices and all equity method investments.
⁽³¹⁾		Amounts presented herein have been rounded to the nearest 100,000 in 2023 and nearest 10,000 in 2022 for ounces and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties.
⁽³²⁾		In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura’s 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest.
⁽³³⁾		Sites acquired through the Newcrest transaction. Gold reserves at sites acquired through the Newcrest transaction were estimated at a gold price of $1,300 per ounce, with the exception of Lihir, for which gold reserves were estimated using Newmont's price assumptions, and certain legacy estimates, which have applied older, more conservative price assumptions.

Gold Resources ⁽¹⁾⁽²⁾ - December 31, 2023
		Measured Resource			Indicated Resource			Measured and Indicated Resource			Inferred Resource
Deposits/Districts	Newmont Share	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾(000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾(000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾(000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾(000)	Metallurgical Recovery ⁽³⁾
CC&V, United States	100%	77,400	0.43	1,100	43,700	0.36	500	121,100	0.40	1,600	22,400	0.43	300	56%
Musselwhite, Canada	100%	900	4.36	100	1,300	4.17	200	2,200	4.25	300	1,200	4.96	200	96%
Porcupine Underground	100%	200	4.55	—	1,100	6.89	200	1,300	6.49	300	2,400	8.04	600	94%
Porcupine Open Pit	100%	100	0.60	—	66,300	1.65	3,500	66,300	1.65	3,500	59,800	1.46	2,800	92%
Total Porcupine, Canada		300	3.67	—	67,400	1.73	3,800	67,700	1.74	3,800	62,200	1.71	3,400	92%
Éléonore, Canada	100%	700	4.59	100	2,100	4.70	300	2,800	4.68	400	1,800	5.70	300	92%
Red Chris, Canada⁽¹¹⁾	70%	—	—	—	334,700	0.34	3,600	334,700	0.34	3,600	62,100	0.35	700	55%
Brucejack, Canada ⁽¹¹⁾	100%	—	—	—	1,800	7.64	500	1,800	7.64	500	12,100	10.35	4,000	96%
Coffee, Canada	100%	900	2.14	100	49,300	1.27	2,000	50,200	1.28	2,100	6,700	1.04	200	81%
Galore Creek, Canada⁽⁴⁾	50%	212,800	0.29	2,000	385,600	0.22	2,700	598,400	0.25	4,700	118,900	0.19	700	75%
Peñasquito, Mexico⁽⁹⁾	100%	37,400	0.26	300	157,300	0.22	1,100	194,700	0.23	1,400	22,800	0.19	100	57%
Noche Buena, Mexico	50%	—	—	—	19,900	0.37	200	19,900	0.37	200	1,600	0.21	—	50%
Merian, Suriname	75%	6,000	1.01	200	38,000	1.10	1,300	44,000	1.09	1,500	30,800	1.00	1,000	88%
Cerro Negro, Argentina	100%	1,300	3.71	200	2,100	6.17	400	3,400	5.22	600	6,200	4.73	900	94%
Conga, Peru	100%	—	—	—	693,800	0.65	14,600	693,800	0.65	14,600	230,500	0.39	2,900	75%
Yanacocha Open Pit	100%	16,800	0.41	200	111,300	0.43	1,500	128,000	0.42	1,700	186,500	0.80	4,800	67%
Yanacocha Underground	100%	500	4.07	100	6,200	4.70	900	6,700	4.65	1,000	3,400	4.99	500	97%
Total Yanacocha, Peru		17,300	0.52	300	117,500	0.65	2,500	134,800	0.64	2,800	189,900	0.88	5,400	73%
Pueblo Viejo, Dominican Republic ⁽⁵⁾	40%	7,300	1.47	300	37,300	1.49	1,800	44,600	1.49	2,100	3,200	1.58	200	82%
NuevaUnión, Chile ⁽⁶⁾	50%	4,800	0.47	100	118,300	0.59	2,300	123,100	0.59	2,300	239,800	0.40	3,100	68%
Norte Abierto, Chile⁽⁷⁾	50%	77,200	0.61	1,500	596,900	0.49	9,300	674,200	0.50	10,800	369,600	0.37	4,400	76%
Boddington, Australia	100%	98,200	0.55	1,700	169,700	0.54	2,900	267,900	0.54	4,700	2,400	0.51	—	83%
Tanami Open Pit	100%	9,400	1.67	500	23,800	1.47	1,100	33,200	1.53	1,600	4,200	1.13	200	90%
Tanami Underground	100%	2,500	3.82	300	5,600	4.43	800	8,000	4.24	1,100	15,900	4.48	2,300	96%
Total Tanami, Australia		11,900	2.12	800	29,400	2.03	1,900	41,200	2.06	2,700	20,100	3.78	2,400	94%
Cadia Underground	100%	—	—	—	1,596,600	0.32	16,200	1,596,600	0.32	16,200	497,000	0.24	3,800	80%
Cadia Stockpiles and Open Pit	100%	30,900	0.30	300	—	—	—	30,900	0.30	300	11,000	0.71	200	65%
Total Cadia, Australia ^(9)(11)		30,900	0.30	300	1,596,600	0.32	16,200	1,627,500	0.32	16,500	508,000	0.25	4,100	80%
Telfer Open Pit	100%	—	—	—	25,900	0.56	500	25,900	0.56	500	—	—	—	78%
Telfer Underground	100%	—	—	—	1,700	2.31	100	1,700	2.31	100	—	—	—	90%
Total Telfer, Australia ⁽¹¹⁾		—	—	—	27,600	0.67	600	27,600	0.67	600	—	—	—	81%
Havieron, Australia ⁽¹¹⁾	70%	—	—	—	33,200	2.65	2,800	33,200	2.65	2,800	11,400	1.71	600	87%
Namosi, Fiji ⁽¹¹⁾	73%	—	—	—	105,500	0.22	700	105,500	0.22	700	1,346,900	0.10	4,300	72%
Lihir Open Pit	100%	—	—	—	25,000	2.03	1,600	25,000	2.03	1,600	227,400	2.40	17,500	80%
Lihir Stockpiles	100%	—	—	—	22,200	1.47	1,000	22,200	1.47	1,000	—	—	—	78%
Lihir, Papua New Guinea^(9)(11)		—	—	—	47,100	1.77	2,700	47,100	1.77	2,700	227,400	2.40	17,500	79%
Wafi-Golpu Open Pit	50%	—	—	—	53,600	1.66	2,900	53,600	1.66	2,900	15,500	1.30	600	65%
Wafi-Golpu Underground	50%	—	—	—	140,800	0.45	2,000	140,800	0.45	2,000	91,900	0.65	1,900	68%
Total Wafi-Golpu, Papua New Guinea ⁽¹¹⁾		—	—	—	194,500	0.78	4,900	194,500	0.78	4,900	107,300	0.74	2,600	67%
Ahafo South Open Pit	100%	3,200	1.21	100	5,600	0.92	200	8,800	1.03	300	6,100	1.40	300	88%
Ahafo South Underground	100%	—	—	—	27,200	3.71	3,200	27,200	3.71	3,200	13,800	3.00	1,300	91%
Total Ahafo South, Ghana		3,200	1.21	100	32,800	3.24	3,400	36,000	3.05	3,500	19,900	2.51	1,600	91%
Ahafo North, Ghana	100%	5,000	1.46	200	12,700	1.88	800	17,700	1.76	1,000	6,600	1.57	300	91%
Akyem, Ghana	100%	900	0.72	—	9,800	3.83	1,200	10,600	3.57	1,200	5,600	2.95	500	92%
NGM Open Pit and Stockpiles	38.5%	4,000	0.99	100	175,200	0.99	5,500	179,200	0.99	5,700	101,000	0.76	2,500	75%
NGM Underground	38.5%	1,400	7.51	300	20,900	5.95	4,000	22,200	6.04	4,300	23,100	6.52	4,800	84%
Total NGM, United States ⁽⁸⁾		5,300	2.66	500	196,000	1.52	9,600	201,400	1.55	10,000	124,100	1.83	7,300	80%
Total Gold		599,700	0.52	9,900	5,121,900	0.58	94,900	5,721,600	0.57	104,800	3,761,500	0.57	69,100	78%

Gold Resources ⁽¹⁾⁽²⁾ - December 31, 2022
		Measured Resource			Indicated Resource			Measured and Indicated Resource			Inferred Resource
Deposits/Districts	Newmont Share	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾(000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾(000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾(000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾(000)	Metallurgical Recovery ⁽³⁾
CC&V, United States	100%	79,700	0.38	980	42,300	0.32	440	122,000	0.36	1,420	32,200	0.34	350	59%
Musselwhite, Canada	100%	1,300	3.92	170	2,600	3.93	330	3,900	3.93	490	3,000	4.15	410	95%
Porcupine Underground	100%	300	6.69	70	1,000	8.64	270	1,300	8.15	340	1,800	8.08	480	92%
Porcupine Open Pit	100%	200	0.51	—	73,000	1.53	3,600	73,200	1.53	3,600	66,000	1.36	2,890	91%
Total Porcupine, Canada		500	4.36	70	73,900	1.63	3,860	74,500	1.64	3,940	67,900	1.54	3,370	91%
Éléonore, Canada	100%	400	5.05	70	2,100	5.10	350	2,500	5.09	420	2,600	5.45	460	92%
Coffee, Canada	100%	—	—	—	53,900	1.23	2,140	53,900	1.23	2,140	7,200	1.01	230	80%
Galore Creek, Canada⁽⁴⁾	50%	212,800	0.29	2,010	385,600	0.22	2,710	598,400	0.25	4,720	118,900	0.19	720	75%
Peñasquito, Mexico	100%	47,400	0.25	390	263,500	0.26	2,190	311,000	0.26	2,570	84,700	0.41	1,110	69%
Noche Buena, Mexico	50%	—	—	—	19,900	0.37	240	19,900	0.37	240	1,600	0.21	10	50%
Merian, Suriname	75%	5,600	0.99	180	35,300	1.26	1,430	40,900	1.22	1,610	37,000	0.86	1,020	89%
Cerro Negro Underground	100%	200	6.11	30	1,500	7.33	360	1,700	7.22	390	5,700	6.19	1,140	95%
Cerro Negro Open Pit	100%	1,200	3.28	130	1,200	3.15	120	2,400	3.22	250	300	2.46	20	90%
Total Cerro Negro, Argentina	100%	1,400	3.60	160	2,700	5.49	480	4,100	4.86	630	6,000	6.00	1,160	94%
Conga, Peru ⁽¹⁰⁾	100%	—	—	—	693,800	0.65	14,590	693,800	0.65	14,590	230,500	0.39	2,880	75%
Yanacocha Open Pit	100%	13,500	0.38	170	114,900	0.42	1,570	128,400	0.42	1,730	189,700	0.79	4,830	66%
Yanacocha Underground	100%	500	4.07	70	6,200	4.70	940	6,700	4.65	1,010	3,400	4.99	550	97%
Total Yanacocha, Peru⁽¹⁰⁾		14,100	0.52	240	121,100	0.64	2,510	135,100	0.63	2,740	193,100	0.87	5,380	72%
Pueblo Viejo, Dominican Republic ⁽⁵⁾⁽⁹⁾	40%	7,300	1.43	340	33,200	1.51	1,610	40,600	1.49	1,950	3,000	1.77	170	88%
NuevaUnión, Chile ⁽⁶⁾	50%	4,800	0.47	70	118,300	0.59	2,260	123,100	0.59	2,330	239,800	0.40	3,050	68%
Norte Abierto, Chile⁽⁷⁾	50%	77,200	0.61	1,510	596,900	0.49	9,320	674,200	0.50	10,820	369,600	0.37	4,360	76%
Boddington, Australia	100%	92,800	0.55	1,630	167,400	0.54	2,900	260,200	0.54	4,530	2,800	0.51	50	83%
Tanami Open Pit	100%	9,400	1.67	500	23,800	1.47	1,120	33,200	1.53	1,630	4,200	1.13	150	90%
Tanami Underground	100%	1,700	3.26	180	5,400	4.29	750	7,100	4.04	920	8,800	5.19	1,460	97%
Total Tanami, Australia	100%	11,000	1.91	680	29,200	1.99	1,870	40,200	1.97	2,550	13,000	3.88	1,620	94%
Ahafo South Open Pit	100%	200	0.56	—	20,000	1.09	700	20,200	1.09	710	10,200	1.29	420	86%
Ahafo South Underground	100%	—	—	—	24,700	3.53	2,810	24,700	3.53	2,810	11,000	3.44	1,220	92%
Total Ahafo South, Ghana		200	0.56	—	44,700	2.44	3,510	44,900	2.43	3,510	21,200	2.41	1,640	91%
Ahafo North, Ghana	100%	2,900	1.28	120	12,700	1.94	790	15,700	1.81	910	10,000	1.50	490	92%
Akyem, Ghana	100%	1,000	0.70	20	9,000	3.68	1,060	10,000	3.38	1,090	7,100	2.74	620	92%
NGM Open Pit and Stockpiles	38.5%	23,200	1.89	1,410	175,200	0.99	5,600	198,400	1.10	7,000	129,900	0.69	2,880	73%
NGM Underground	38.5%	9,800	6.48	2,040	16,600	5.84	3,110	26,400	6.08	5,150	19,500	6.63	4,150	86%
Total NGM, United States⁽⁸⁾		33,000	3.25	3,450	191,700	1.41	8,700	224,800	1.68	12,160	149,300	1.47	7,040	79%
Total Gold		593,600	0.63	12,080	2,900,000	0.68	63,250	3,493,600	0.67	75,330	1,600,700	0.70	36,130	79%

⁽¹⁾		Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding.
⁽²⁾		Resources, at sites in which Newmont is the operator, are estimated at a gold price of $1,600 per ounce for 2023 and 2022, unless otherwise noted. Resources provided by other operators may use pricing that differs. Tonnage amounts have been rounded to the nearest 100,000.
⁽³⁾		Ounces are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Ounces may not recalculate as they are rounded to the nearest 100,000 in 2023 and nearest 10,000 in 2022.
⁽⁴⁾		Project is currently undeveloped. Resource estimates provided by Teck Resources, the Galore Creek joint venture partner.
⁽⁵⁾		Resource estimates provided by Barrick, the operator of Pueblo Viejo.
⁽⁶⁾		Project is currently undeveloped. Resource estimates provided by the NuevaUnión joint venture.
⁽⁷⁾		Project is currently undeveloped. Resource estimates provided by the Norte Abierto joint venture.
⁽⁸⁾		Resource estimates provided by Barrick, the operator of the NGM joint venture.
⁽⁹⁾		Amounts presented herein have been rounded to the nearest 100,000 in 2023 and nearest 10,000 in 2022 for ounces and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties.
⁽¹⁰⁾		In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura’s 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest.
⁽¹¹⁾		Sites acquired through the Newcrest transaction. Gold resources at sites acquired through the Newcrest transaction were estimated at a gold price of $1,400 per ounce, with the exception of Havieron and Lihir, for which gold resources were estimated using Newmont's price assumptions, and certain legacy estimates, which have applied older, more conservative price assumptions.

Copper Reserves ⁽¹⁾
December 31, 2023												December 31, 2022
		Proven Reserves			Probable Reserves			Proven and Probable Reserves				Proven and Probable Reserves
Deposits/Districts	Newmont Share	Tonnage⁽²⁾(000 tonnes)	Grade (Cu %)	Pounds⁽³⁾(millions)	Tonnage⁽²⁾(000 tonnes)	Grade (Cu %)	Pounds⁽³⁾(millions)	Tonnage⁽²⁾(000 tonnes)	Grade (Cu %)	Pounds⁽³⁾(millions)	Metallurgical Recovery⁽³⁾	Tonnage⁽²⁾(000 tonnes)	Grade (Cu %)	Pounds⁽³⁾(millions)
Red Chris Open Pit	70%	—	—%	—	30,200	0.43%	300	30,200	0.43%	300	80%	—	—%	—
Red Chris Underground	70%	—	—%	—	171,700	0.52%	2,000	171,700	0.52%	2,000	84%	—	—%	—
Total Red Chris, Canada^(4)(14)		—	—%	—	201,900	0.51%	2,300	201,900	0.51%	2,300	84%	—	—%	—
Yanacocha, Peru ^(5)(13)	100%	—	—%	—	111,100	0.63%	1,500	111,100	0.63%	1,500	83%	111,100	0.63%	1,530
NuevaUnión, Chile ^(6)(11)	50%	—	—%	—	1,118,000	0.40%	9,800	1,118,000	0.40%	9,800	88%	1,118,000	0.40%	9,800
Norte Abierto, Chile ^(7)(11)	50%	—	—%	—	598,800	0.22%	2,900	598,800	0.22%	2,900	87%	598,800	0.22%	2,890
Boddington Open Pit	100%	215,300	0.09%	400	192,600	0.11%	400	407,900	0.10%	900	82%	446,700	0.10%	1,010
Boddington Stockpiles⁽⁸⁾	100%	2,000	0.15%	—	70,000	0.09%	100	72,000	0.09%	100	73%	78,300	0.09%	150
Total Boddington, Australia⁽⁴⁾		217,300	0.09%	400	262,600	0.10%	600	479,900	0.10%	1,000	80%	524,900	0.10%	1,160
Cadia, Australia^(9)(12)(14)	100%	—	—%	—	1,102,300	0.29%	7,100	1,102,300	0.29%	7,100	86%	—	—%	—
Wafi-Golpu, Papua New Guinea ^(4)(11)(14)	50%	—	—%	—	194,500	1.20%	5,100	194,500	1.20%	5,100	95%	—	—%	—
NGM, United States⁽¹⁰⁾	38.5%	3,700	0.16%	—	82,400	0.17%	300	86,100	0.17%	300	65%	88,700	0.16%	320
Total Copper		221,000	0.09%	500	3,671,500	0.37%	29,700	3,892,500	0.35%	30,100	88%	2,441,500	0.29%	15,710

⁽¹⁾		Copper reserves, at sites in which Newmont is the operator, for 2023 and 2022 were estimated at a copper price of $3.50 per pound, unless otherwise noted. Reserves provided by other operators may use pricing that differs. Amounts presented may not recalculate in total due to rounding.
⁽²⁾		Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.
⁽³⁾		Pounds are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Pounds may not recalculate as they are rounded to the nearest 100 million for 2023 and nearest 10 million for 2022.
⁽⁴⁾		Copper cut-off grade varies with level of gold credits.
⁽⁵⁾		Reserve estimates relate to the undeveloped Yanacocha Sulfides project. Copper cut-off grade varies with level of gold and silver credits.
⁽⁶⁾		Project is currently undeveloped. Reserve estimates provided by the NuevaUnión joint venture.
⁽⁷⁾		Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture.
⁽⁸⁾		Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpiles are reported separately where pounds exceed 100 million and are greater than 5% of the total site reported reserves.
⁽⁹⁾		Copper cut-off grade varies with level of gold, silver, and molybdenum credits.
⁽¹⁰⁾		Reserve estimates provided by Barrick, the operator of the NGM joint venture.
⁽¹¹⁾		Currently included in Corporate and Other which includes the Company's business activities relating to its corporate and regional offices and all equity method investments.
⁽¹²⁾		Amounts presented herein have been rounded to the nearest 100 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties.
⁽¹³⁾		In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura’s 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest.
⁽¹⁴⁾		Sites acquired through the Newcrest transaction. Copper reserves at sites acquired through the Newcrest transaction were estimated at a copper price of $3.00 per pound, with the exception of certain legacy estimates, which have applied older, more conservative price assumptions.

Copper Resources ⁽¹⁾⁽²⁾ - December 31, 2023
		Measured Resource			Indicated Resource			Measured and Indicated Resource			Inferred Resource
Deposits/Districts	Newmont Share	Tonnage (000 tonnes)	Grade (Cu%)	Pounds ⁽³⁾(millions)	Tonnage (000 tonnes)	Grade (Cu%)	Pounds ⁽³⁾(millions)	Tonnage (000 tonnes)	Grade (Cu%)	Pounds ⁽³⁾(millions)	Tonnage (000 tonnes)	Grade (Cu%)	Pounds ⁽³⁾(millions)	Metallurgical Recovery ⁽³⁾
Red Chris, Canada⁽¹⁰⁾	70%	—	—%	—	334,700	0.34%	2,500	334,700	0.34%	2,500	62,100	0.36%	500	81%
Galore Creek, Canada ⁽⁴⁾	50%	212,800	0.44%	2,100	385,600	0.47%	4,000	598,400	0.46%	6,100	118,900	0.26%	700	93%
Conga, Peru	100%	—	—%	—	693,800	0.26%	4,000	693,800	0.26%	4,000	230,500	0.19%	900	84%
Yanacocha, Peru	100%	1,500	1.02%	—	99,800	0.36%	800	101,300	0.37%	800	39,700	0.37%	300	81%
NuevaUnión, Chile ⁽⁵⁾	50%	164,300	0.19%	700	349,900	0.34%	2,700	514,100	0.30%	3,400	602,200	0.39%	5,200	89%
Norte Abierto, Chile ⁽⁶⁾	50%	57,600	0.24%	300	551,300	0.19%	2,300	608,900	0.20%	2,600	361,800	0.18%	1,400	90%
Boddington, Australia	100%	98,200	0.11%	200	169,700	0.11%	400	267,900	0.11%	700	2,400	0.07%	—	82%
Cadia Underground	100%	—	—%	—	1,596,600	0.23%	8,200	1,596,600	0.23%	8,200	497,000	0.17%	1,900	85%
Cadia Open Pit	100%	30,900	0.13%	100	—	—%	—	30,900	0.13%	100	11,000	0.52%	100	80%
Total Cadia, Australia^(8)(10)		30,900	0.13%	100	1,596,600	0.23%	8,200	1,627,500	0.23%	8,300	508,000	0.18%	2,000	85%
Telfer Open Pit	100%	—	—%	—	20,300	0.06%	—	20,300	0.06%	—	—	—%	—	49%
Telfer Stockpiles	100%	—	—%	—	5,600	0.07%	—	5,600	0.07%	—	—	—%	—	46%
Telfer Underground	100%	—	—%	—	1,700	0.56%	—	1,700	0.56%	—	—	—%	—	94%
Total Telfer, Australia⁽¹⁰⁾		—	—%	—	27,600	0.09%	100	27,600	0.09%	100	—	—%	—	65%
Havieron, Australia⁽¹⁰⁾	70%	—	—%	—	33,200	0.34%	300	33,200	0.34%	300	11,400	0.16%	—	86%
Telfer Projects, Australia ⁽¹⁰⁾	100%	—	—%	—	51,700	0.29%	300	51,700	0.29%	300	1,900	0.28%	—	78%
Namosi Open Pit	73%	—	—%	—	105,500	0.61%	1,400	105,500	0.61%	1,400	1,346,900	0.32%	9,500	84%
Namosi Underground	73%	—	—%	—	—	—%	—	—	—%	—	209,900	0.43%	2,000	92%
Total Namosi, Fiji ⁽¹⁰⁾		—	—%	—	105,500	0.61%	1,400	105,500	0.61%	1,400	1,556,800	0.33%	11,500	85%
Wafi-Golpu, Papua New Guinea⁽¹⁰⁾	50%	—	—%	—	140,800	0.73%	2,300	140,800	0.73%	2,300	91,900	0.68%	1,400	95%
NGM, United States ⁽⁷⁾	38.5%	—	—%	—	136,000	0.15%	500	136,000	0.15%	500	19,300	0.16%	100	65%
Total Copper		565,300	0.28%	3,400	4,676,100	0.29%	29,700	5,241,400	0.29%	33,100	3,606,800	0.30%	24,000	88%

Copper Resources at December 31, 2022⁽¹⁾⁽²⁾
		Measured Resources			Indicated Resources			Measured and Indicated Resources			Inferred Resources
Deposits/Districts	Newmont Share	Tonnage (000 tonnes)	Grade (Cu%)	Pounds ⁽³⁾(millions)	Tonnage (000 tonnes)	Grade (Cu%)	Pounds ⁽³⁾(millions)	Tonnage (000 tonnes)	Grade (Cu%)	Pounds ⁽³⁾(millions)	Tonnage (000 tonnes)	Grade (Cu%)	Pounds ⁽³⁾(millions)	Metallurgical Recovery⁽³⁾
Galore Creek, Canada⁽⁴⁾	50%	212,800	0.44%	2,060	385,600	0.47%	4,020	598,400	0.46%	6,080	118,900	0.26%	690	93%
Conga, Peru⁽⁹⁾	100%	—	—%	—	693,800	0.26%	3,970	693,800	0.26%	3,970	230,500	0.19%	950	84%
Yanacocha, Peru⁽⁹⁾	100%	500	0.18%	—	100,800	0.37%	830	101,300	0.37%	830	39,700	0.37%	320	81%
NuevaUnión, Chile ⁽⁵⁾	50%	164,300	0.19%	700	349,900	0.34%	2,650	514,100	0.30%	3,360	602,200	0.39%	5,170	89%
Norte Abierto, Chile ⁽⁶⁾	50%	57,600	0.24%	310	551,300	0.19%	2,340	608,900	0.20%	2,640	361,800	0.18%	1,450	90%
Boddington, Australia	100%	92,800	0.11%	230	167,400	0.11%	420	260,200	0.11%	650	2,800	0.08%	10	82%
NGM, United States⁽⁷⁾	38.5%	2,600	0.14%	10	116,900	0.14%	350	119,500	0.14%	360	19,900	0.13%	60	65%
Total Copper		530,600	0.28%	3,310	2,365,500	0.28%	14,580	2,896,100	0.28%	17,890	1,375,800	0.28%	8,640	88%

⁽¹⁾		Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding.
⁽²⁾		Resources, at sites in which Newmont is the operator, are estimated at a copper price of $4.00 per pound for 2023 and 2022, unless otherwise noted. Resources provided by other operators may use pricing that differs. Tonnage amounts have been rounded to the nearest 100,000.
⁽³⁾		Pounds are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 and nearest 10 million in 2022.
⁽⁴⁾		Project is currently undeveloped. Resource estimates provided by Teck Resources.
⁽⁵⁾		Project is currently undeveloped. Resource estimates provided by the NuevaUnión joint venture.
⁽⁶⁾		Project is currently undeveloped. Resource estimates provided by the Norte Abierto joint venture.
⁽⁷⁾		Resource estimates provided by Barrick, the operator of the NGM joint venture.
⁽⁸⁾		Amounts presented herein have been rounded to the nearest 100 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties.
⁽⁹⁾		In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura’s 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest.
⁽¹⁰⁾		Sites acquired through the Newcrest transaction. Copper resources at sites acquired through the Newcrest transaction were estimated at a copper price of $3.40 per pound, with the exception of Havieron, for which copper resources were estimated using Newmont's price assumptions, and certain legacy estimates, which have applied older, more conservative price assumptions.

Silver Reserves ⁽¹⁾
December 31, 2023												December 31, 2022
		Proven Reserves			Probable Reserves			Proven and Probable Reserves				Proven and Probable Reserves
Deposits/Districts	Newmont Share	Tonnage⁽²⁾(000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾(000)	Tonnage⁽²⁾(000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾(000)	Tonnage⁽²⁾(000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾(000)	Metallurgical Recovery ⁽³⁾	Tonnage⁽²⁾(000 tonnes)	Grade (g/tonne)	Ounces⁽³⁾(000)
Brucejack, Canada ^(4)(17)	100%	—	—	—	11,500	34.71	12,800	11,500	34.71	12,800	85%	—	—	—
Peñasquito Open Pits	100%	121,700	37.98	148,600	142,800	30.31	139,200	264,500	33.84	287,800	80%	288,500	34.82	323,000
Peñasquito Stockpiles ⁽⁵⁾	100%	2,000	33.97	2,200	24,500	28.79	22,700	26,500	29.18	24,900	80%	28,000	25.57	23,050
Total Peñasquito, Mexico ^(6)(15)		123,700	37.91	150,800	167,300	30.09	161,800	291,000	33.42	312,600	80%	316,500	34.00	346,050
Cerro Negro, Argentina ⁽⁴⁾	100%	1,900	85.48	5,200	7,300	69.23	16,300	9,200	72.58	21,500	75%	9,400	64.47	19,490
Yanacocha Open Pits and Underground ⁽⁷⁾	100%	—	—	—	93,400	19.89	59,800	93,400	19.89	59,800	54%	93,400	19.90	59,760
Yanacocha Stockpiles and Leach Pads ⁽⁵⁾⁽⁸⁾	100%	—	—	—	86,000	9.07	25,100	86,000	9.07	25,100	13%	96,400	8.71	27,010
Total Yanacocha, Peru⁽¹⁶⁾		—	—	—	179,500	14.70	84,800	179,500	14.70	84,800	42%	189,800	14.22	86,770
Pueblo Viejo Open Pits	40%	25,800	13.15	10,900	50,800	12.31	20,100	76,600	12.59	31,000	74%	78,500	12.87	32,460
Pueblo Viejo Stockpiles ⁽⁵⁾	40%	—	—	—	39,700	14.48	18,500	39,700	14.48	18,500	70%	38,200	15.10	18,520
Total Pueblo Viejo, Dominican Republic^(9)(15)		25,800	13.15	10,900	90,500	13.26	38,600	116,300	13.24	49,500	73%	116,600	13.60	50,980
NuevaUnión, Chile ^(10)(14)	50%	—	—	—	1,118,000	1.31	47,200	1,118,000	1.31	47,200	66%	1,118,000	1.31	47,170
Norte Abierto, Chile ^(11)(14)	50%	—	—	—	598,800	1.52	29,300	598,800	1.52	29,300	74%	598,800	1.52	29,340
Cadia, Australia ^(12)(15)(17)	100%	—	—	—	1,102,300	0.68	24,000	1,102,300	0.68	24,000	67%	—	—	—
NGM, United States⁽¹³⁾	38.5%	2,400	7.97	600	60,800	6.93	13,600	63,200	6.97	14,200	38%	65,500	6.34	13,340
Total Silver		153,900	33.87	167,600	3,335,900	4.00	428,400	3,489,800	5.31	596,000	70%	2,414,600	7.64	593,140

⁽¹⁾		Silver reserves, at sites in which Newmont is the operator, for 2023 and 2022 were estimated at a silver price of $20.00 per ounce, unless otherwise noted. Reserves provided by other operators may use pricing that differs. Amounts presented may not recalculate in total due to rounding.
⁽²⁾		Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.
⁽³⁾		Ounces are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Ounces may not recalculate as they are rounded to the nearest 100,000 for 2023 and nearest 10,000 for 2022.
⁽⁴⁾		Silver cut-off grade varies with gold credits.
⁽⁵⁾		Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.
⁽⁶⁾		Silver cut-off grade varies with gold, lead, and zinc credits.
⁽⁷⁾		Silver cut-off grade varies with gold and copper credits.
⁽⁸⁾		Leach pad material is the material on leach pads at the end of the year from which silver remains to be recovered. In-process reserves are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.
⁽⁹⁾		The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Reserve estimates provided by Barrick, the operator of Pueblo Viejo.
⁽¹⁰⁾		Project is currently undeveloped. Reserve estimates provided by the NuevaUnión joint venture.
⁽¹¹⁾		Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture.
⁽¹²⁾		Silver cut-off grade varies with gold, copper, and molybdenum credits.
⁽¹³⁾		Reserve estimates provided by Barrick, the operator of the NGM joint venture.
⁽¹⁴⁾		Currently included in Corporate and Other which includes the Company's business activities relating to its corporate and regional offices and all equity method investments.
⁽¹⁵⁾		Amounts presented herein have been rounded to the nearest 100,000 in 2023 and nearest 10,000 in 2022 for ounces and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties.
⁽¹⁶⁾		In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura’s 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest.
⁽¹⁷⁾		Sites acquired through the Newcrest transaction. Silver reserves at sites acquired through the Newcrest transaction were estimated at a silver price of $18.00 per ounce.

Silver Resources ⁽¹⁾⁽²⁾ - December 31, 2023
		Measured Resource			Indicated Resource			Measured and Indicated Resource			Inferred Resource
Deposits/Districts	Newmont Share	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces ⁽³⁾(000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces ⁽³⁾(000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces ⁽³⁾(000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces ⁽³⁾(000)	Metallurgical Recovery ⁽³⁾
Brucejack, Canada ⁽¹¹⁾	100%	—	—	—	1,800	8.09	500	1,800	8.09	500	12,100	10.02	3,900	85%
Galore Creek, Canada⁽⁴⁾	50%	212,800	4.08	27,900	385,600	4.77	59,100	598,400	4.52	87,000	118,900	2.60	9,900	73%
Peñasquito, Mexico	100%	37,400	24.48	29,400	157,300	25.12	127,100	194,700	25.00	156,500	22,800	25.41	18,700	79%
Noche Buena, Mexico	50%	—	—	—	19,900	13.99	9,000	19,900	13.99	9,000	1,600	10.98	500	25%
Cerro Negro Underground	100%	100	61.50	200	900	60.12	1,800	1,000	60.28	2,000	5,900	27.47	5,200	75%
Cerro Negro Open Pit	100%	1,200	6.77	300	1,200	6.63	300	2,400	6.70	500	300	6.68	100	71%
Total Cerro Negro, Argentina		1,300	11.71	500	2,100	30.02	2,000	3,400	22.95	2,500	6,200	26.45	5,300	75%
Conga, Peru	100%	—	—	—	693,800	2.06	45,900	693,800	2.06	45,900	175,000	1.13	6,300	70%
Yanacocha Open Pit	100%	16,100	6.76	3,500	105,200	10.43	35,300	121,300	9.94	38,800	26,400	13.51	11,500	44%
Yanacocha Underground	100%	500	0.37	—	6,200	37.02	7,300	6,700	34.23	7,400	3,400	40.45	4,400	83%
Total Yanacocha, Peru		16,600	6.57	3,500	111,300	11.91	42,600	128,000	11.21	46,100	29,800	16.56	15,900	51%
Pueblo Viejo, Dominican Republic ⁽⁵⁾	40%	7,300	7.96	1,900	37,300	8.04	9,600	44,600	8.02	11,500	3,200	8.14	800	74%
NuevaUnión, Chile ⁽⁶⁾	50%	164,300	0.96	5,100	349,900	1.19	13,400	514,100	1.12	18,400	602,200	1.16	22,500	66%
Norte Abierto, Chile ⁽⁷⁾	50%	77,200	1.20	3,000	596,900	1.07	20,600	674,200	1.09	23,500	369,600	0.95	11,300	78%
Cadia, Australia ^(9)(11)	100%	—	—	—	1,596,600	0.61	31,300	1,596,600	0.61	31,300	497,000	0.47	7,500	65%
Wafi-Golpu, Papua New Guinea ⁽¹¹⁾	50%	—	—	—	53,600	4.42	7,600	53,600	4.42	7,600	15,500	4.46	2,200	45%
NGM Open Pit	38.5%	—	—	—	93,000	5.59	16,700	93,000	5.59	16,700	16,700	5.38	2,900	38%
NGM Stockpiles	38.5%	—	—	—	—	—	—	—	—	—	1,800	5.63	300	38%
NGM, United States⁽⁸⁾		—	—	—	93,000	5.59	16,700	93,000	5.59	16,700	18,400	5.41	3,200	38%
Total Silver		516,900	4.29	71,300	4,099,200	2.92	385,400	4,616,200	3.08	456,700	1,872,300	1.80	108,100	68%

Silver Resources ⁽¹⁾⁽²⁾ - December 31, 2022
		Measured Resource			Indicated Resource			Measured and Indicated Resource			Inferred Resource
Deposits/Districts	Newmont Share	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces ⁽³⁾(000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces ⁽³⁾(000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces ⁽³⁾(000)	Tonnage (000 tonnes)	Grade (g/tonne)	Ounces ⁽³⁾(000)	Metallurgical Recovery ⁽³⁾
Galore Creek, Canada ⁽⁴⁾	50%	212,800	4.08	27,950	385,600	4.77	59,100	598,400	4.52	87,040	118,900	2.60	9,940	73%
Peñasquito, Mexico	100%	47,400	23.94	36,510	263,500	23.99	203,240	311,000	23.98	239,740	84,700	27.24	74,220	86%
Noche Buena, Mexico	50%	—	—	—	19,900	13.99	8,970	19,900	13.99	8,970	1,600	10.98	550	25%
Cerro Negro Underground	100%	200	42.43	210	1,500	51.31	2,490	1,700	50.51	2,690	5,700	35.10	6,450	76%
Cerro Negro Open Pit	100%	1,200	6.77	260	1,200	6.63	250	2,400	6.70	520	300	6.68	70	60%
Total Cerro Negro, Argentina		1,400	10.72	470	2,700	31.64	2,740	4,100	24.64	3,210	6,000	33.66	6,520	75%
Conga, Peru ⁽¹⁰⁾	100%	—	—	—	693,800	2.06	45,910	693,800	2.06	45,910	175,000	1.13	6,330	70%
Yanacocha Open Pit	100%	12,500	3.30	1,330	108,100	11.11	38,610	120,600	10.30	39,930	29,600	12.52	11,920	41%
Yanacocha Underground	100%	500	0.37	10	6,200	37.02	7,350	6,700	34.23	7,350	3,400	40.45	4,390	83%
Total Yanacocha, Peru ⁽¹⁰⁾		13,000	3.19	1,330	114,200	12.51	45,950	127,200	11.56	47,290	33,000	15.38	16,310	49%
Pueblo Viejo, Dominican Republic ⁽⁵⁾⁽⁹⁾	40%	7,300	7.68	1,810	33,200	8.28	8,840	40,600	8.17	10,650	3,000	10.49	1,030	74%
NuevaUnión, Chile ⁽⁶⁾	50%	164,300	0.96	5,080	349,900	1.19	13,370	514,100	1.12	18,440	602,200	1.16	22,530	66%
Norte Abierto, Chile ⁽⁷⁾	50%	77,200	1.20	2,990	596,900	1.07	20,550	674,200	1.09	23,540	369,600	0.95	11,340	78%
NGM, United States ⁽⁸⁾	38.5%	2,400	5.33	410	81,700	5.46	14,340	84,100	5.46	14,760	18,700	5.57	3,350	38%
Total Silver		525,900	4.53	76,550	2,541,500	5.18	423,010	3,067,400	5.07	499,560	1,412,800	3.35	152,120	75%

⁽¹⁾		Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding.
⁽²⁾		Resources, at sites in which Newmont is the operator, are estimated at a silver price of $23.00 per ounce for 2023 and 2022, unless otherwise noted. Resources provided by other operators may use pricing that differs. Tonnage amounts have been rounded to the nearest 100,000.
⁽³⁾		Ounces are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Ounces may not recalculate as they are rounded to the nearest 100,000 in 2023 and nearest 10,000 in 2022.
⁽⁴⁾		Project is currently undeveloped. Resource estimates provided by Teck Resources.
⁽⁵⁾		Resource estimates provided by Barrick, the operator of the Pueblo Viejo.
⁽⁶⁾		Project is currently undeveloped. Resource estimates provided by the NuevaUnión joint venture.
⁽⁷⁾		Project is currently undeveloped. Resource estimates provided by the Norte Abierto joint venture.
⁽⁸⁾		Resource estimates provided by Barrick, the operator of the NGM joint venture.
⁽⁹⁾		Amounts presented herein have been rounded to the nearest 100,000 in 2023 and nearest 10,000 in 2022 for ounces and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties.
⁽¹⁰⁾		In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura’s 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest.
⁽¹¹⁾		Sites acquired through the Newcrest transaction. Silver resources at sites acquired through the Newcrest transaction were estimated at a silver price of $21.00 per ounce, with the exception of certain legacy estimates, which have applied older, more conservative price assumptions.

Lead Reserves ⁽¹⁾
December 31, 2023												December 31, 2022
		Proven Reserves			Probable Reserves			Proven and Probable Reserves				Proven and Probable Reserves
Deposits/Districts	Newmont Share	Tonnage⁽²⁾(000 tonnes)	Grade (Pb %)	Pounds⁽³⁾(millions)	Tonnage⁽²⁾(000 tonnes)	Grade (Pb %)	Pounds⁽³⁾(millions)	Tonnage⁽²⁾(000 tonnes)	Grade (Pb %)	Pounds⁽³⁾(millions)	Metallurgical Recovery⁽³⁾	Tonnage⁽²⁾(000 tonnes)	Grade (Pb %)	Pounds⁽³⁾(millions)
Peñasquito Open Pits, Mexico ⁽⁴⁾⁽⁶⁾	100%	121,700	0.37%	1,000	142,800	0.28%	900	264,500	0.32%	1,900	73%	288,500	0.33%	2,090
Peñasquito Stockpiles, Mexico^(4)(5)(6)	100%	2,000	0.32%	—	24,500	0.38%	200	26,500	0.37%	200	73%	28,000	0.33%	200
Total Lead		123,700	0.37%	1,000	167,300	0.30%	1,100	291,000	0.33%	2,100	73%	316,500	0.33%	2,300

⁽¹⁾		Lead reserves for 2023 and 2022 were estimated at a lead price of $1.00 per pound. Amounts presented may not recalculate in total due to rounding.
⁽²⁾		Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.
⁽³⁾		Pounds are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 and nearest 10 million in 2022.
⁽⁴⁾		Lead cut-off grade varies with level of gold, silver, and zinc credits.
⁽⁵⁾		Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where pounds exceed 100 million and are greater than 5% of the total site-reported reserves.
⁽⁶⁾		Amounts presented herein have been rounded to the nearest 100 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.

Lead Resources ⁽¹⁾⁽²⁾ - December 31, 2023
		Measured Resource			Indicated Resource			Measured and Indicated Resource			Inferred Resource
Deposits/Districts	Newmont Share	Tonnage (000 tonnes)	Grade (Pb %)	Pounds ⁽³⁾(millions)	Tonnage (000 tonnes)	Grade (Pb %)	Pounds ⁽³⁾(millions)	Tonnage (000 tonnes)	Grade (Pb %)	Pounds ⁽³⁾(millions)	Tonnage (000 tonnes)	Grade (Pb %)	Pounds ⁽³⁾(millions)	Metallurgical Recovery ⁽³⁾
Peñasquito, Mexico ⁽⁴⁾	100%	37,400	0.28%	200	157,300	0.24%	800	194,700	0.24%	1,000	22,800	0.23%	100	72%
Telfer Projects, Australia⁽⁵⁾	100%	—	—%	—	51,700	0.30%	300	51,700	0.30%	300	1,900	0.24%	—	89%
Total Lead		37,400	0.28%	200	209,100	0.25%	1,200	246,500	0.26%	1,400	24,700	0.23%	100	76%

Lead Resources ⁽¹⁾⁽²⁾ - December 31, 2022

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Deposits/Districts

Newmont
Share

Tonnage
(000 tonnes)

Grade
(Pb %)

Pounds ⁽³⁾(millions)

Tonnage
(000 tonnes)

Grade
(Pb %)

Pounds ⁽³⁾(millions)

Tonnage
(000 tonnes)

Grade
(Pb %)

Pounds ⁽³⁾(millions)

Tonnage
(000 tonnes)

Grade
(Pb %)

Pounds ⁽³⁾(millions)

Metallurgical
Recovery ⁽³⁾

Peñasquito, Mexico

100%

47,400

0.26%

270

263,500

0.23%

1,360

311,000

0.24%

1,630

84,700

0.23%

440

72%

Total Lead

47,400

0.26%

270

263,500

0.23%

1,360

311,000

0.24%

1,630

84,700

0.23%

440

72%

⁽¹⁾		Resources are reported exclusive of reserves.
⁽²⁾		Resources are estimated at a lead price of $1.20 per pound for 2023 and 2022. Tonnage amounts have been rounded to the nearest 100,000.
⁽³⁾		Pounds are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 and nearest 10 million in 2022.
⁽⁴⁾		Amounts presented herein have been rounded to the nearest 100 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties.
⁽⁵⁾		Site acquired through the Newcrest transaction. Lead resources at sites acquired through the Newcrest transaction were estimated at a lead price of $1.07 per pound.

Zinc Reserves ⁽¹⁾
December 31, 2023												December 31, 2022
		Proven Reserves			Probable Reserves			Proven and Probable Reserves				Proven and Probable Reserves
Deposits/Districts	Newmont Share	Tonnage⁽²⁾(000 tonnes)	Grade (Zn %)	Pounds⁽³⁾(millions)	Tonnage⁽²⁾(000 tonnes)	Grade (Zn %)	Pounds⁽³⁾(millions)	Tonnage⁽²⁾(000 tonnes)	Grade (Zn %)	Pounds⁽³⁾(millions)	Metallurgical Recovery⁽³⁾	Tonnage⁽²⁾(000 tonnes)	Grade (Zn %)	Pounds⁽³⁾(millions)
Peñasquito Open Pits, Mexico ⁽⁴⁾⁽⁶⁾	100%	121,700	0.95%	2,500	142,800	0.66%	2,100	264,500	0.79%	4,600	82%	288,500	0.82%	5,240
Peñasquito Stockpiles, Mexico ^(4)(5)(6)	100%	2,000	0.66%	—	24,500	0.52%	300	26,500	0.53%	300	82%	28,000	0.47%	290
Total Zinc		123,700	0.94%	2,600	167,300	0.63%	2,300	291,000	0.77%	4,900	82%	316,500	0.79%	5,540

⁽¹⁾		Zinc reserves for 2023 and 2022 were estimated at a zinc price of $1.20 per pound. Amounts presented may not recalculate in total due to rounding.
⁽²⁾		Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.
⁽³⁾		Pounds are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 and nearest 10 million in 2022.
⁽⁴⁾		Zinc cut-off grade varies with level of gold, silver, and lead credits.
⁽⁵⁾		Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where pounds exceed 100 million and are greater than 5% of the total site-reported reserves.
⁽⁶⁾		Amounts presented herein have been rounded to the nearest 100 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.

Zinc Resources ⁽¹⁾⁽²⁾ - December 31, 2023
		Measured Resource			Indicated Resource			Measured and Indicated Resource			Inferred Resource
Deposits/Districts	Newmont Share	Tonnage (000 tonnes)	Grade (Zn %)	Pounds ⁽³⁾(millions)	Tonnage (000 tonnes)	Grade (Zn %)	Pounds ⁽³⁾(millions)	Tonnage (000 tonnes)	Grade (Zn %)	Pounds ⁽³⁾(millions)	Tonnage (000 tonnes)	Grade (Zn %)	Pounds ⁽³⁾(millions)	Metallurgical Recovery ⁽³⁾
Peñasquito, Mexico ⁽⁴⁾	100%	37,400	0.69%	600	157,300	0.59%	2,000	194,700	0.61%	2,600	22,800	0.57%	300	81%
Telfer Projects, Australia⁽⁵⁾	100%	—	—%	—	51,700	0.63%	700	51,700	0.63%	700	1,900	0.47%	—	78%
Total Zinc		37,400	0.69%	600	209,100	0.60%	2,800	246,500	0.61%	3,300	24,700	0.56%	300	80%

Zinc Resources ⁽¹⁾⁽²⁾ - December 31, 2022

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Deposits/Districts

Newmont
Share

Tonnage
(000 tonnes)

Grade
(Zn %)

Pounds ⁽³⁾(millions)

Tonnage
(000 tonnes)

Grade
(Zn %)

Pounds ⁽³⁾(millions)

Tonnage
(000 tonnes)

Grade
(Zn %)

Pounds ⁽³⁾(millions)

Tonnage
(000 tonnes)

Grade
(Zn %)

Pounds ⁽³⁾(millions)

Metallurgical
Recovery ⁽³⁾

Peñasquito, Mexico

100%

47,400

0.62%

650

263,500

0.53%

3,080

311,000

0.54%

3,740

84,700

0.53%

1,000

81%

Total Zinc

47,400

0.62%

650

263,500

0.53%

3,080

311,000

0.54%

3,740

84,700

0.53%

1,000

81%

⁽¹⁾		Resources are reported exclusive of reserves.
⁽²⁾		Resources are estimated at a zinc price of $1.45 per pound for 2023 and 2022. Tonnage amounts have been rounded to the nearest 100,000.
⁽³⁾		Pounds are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 and nearest 10 million in 2022.
⁽⁴⁾		Amounts presented herein have been rounded to the nearest 10 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties.
⁽⁵⁾		Site acquired through the Newcrest transaction. Zinc resources at sites acquired through the Newcrest transaction were estimated at a zinc price of $1.15 per pound.

Molybdenum Reserves ⁽¹⁾
December 31, 2023												December 31, 2022
		Proven Reserves			Probable Reserves			Proven and Probable Reserves				Proven and Probable Reserves
Deposits/Districts	Newmont Share	Tonnage⁽²⁾(000 tonnes)	Grade (Mo %)	Pounds⁽³⁾(millions)	Tonnage⁽²⁾(000 tonnes)	Grade (Mo %)	Pounds⁽³⁾(millions)	Tonnage⁽²⁾(000 tonnes)	Grade (Mo %)	Pounds⁽³⁾(millions)	Metallurgical Recovery ⁽³⁾	Tonnage⁽²⁾(000 tonnes)	Grade (Mo %)	Pounds⁽³⁾(millions)
NuevaUnión, Chile ⁽⁴⁾⁽⁵⁾	50%	—	—%	—	776,900	0.02%	300	776,900	0.02%	300	48%	776,900	0.02%	270
Total Cadia, Australia ^(6)(7)(8)	100%	—	—%	—	1,085,100	0.01%	200	1,085,100	0.01%	200	72%	—	—%	—
Total Molybdenum		—	—%	—	1,862,000	0.01%	500	1,862,000	0.01%	500	55%	776,900	0.02%	270

⁽¹⁾		Molybdenum reserves, at sites in which Newmont is the operator, for 2023 were estimated at a molybdenum price of $8.00 per pound. Reserves for NuevaUnión are estimated based on a molybdenum price set by NuevaUnión joint venture. Amounts presented may not recalculate in total due to rounding.
⁽²⁾		Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.
⁽³⁾		Pounds are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 and nearest 10 million in 2022.
⁽⁴⁾		Project is currently undeveloped. Reserve estimates provided by the NuevaUnión joint venture.
⁽⁵⁾		Currently included in Corporate and Other which includes the Company's business activities relating to its corporate and regional offices and all equity method investments.
⁽⁶⁾		Molybdenum cut-off grade varies with level of gold, silver, and copper credits.
⁽⁷⁾		Amounts presented herein have been rounded to the nearest 100 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties.
⁽⁸⁾		Site acquired through the Newcrest transaction.

Molybdenum Resources ⁽¹⁾⁽²⁾ - December 31, 2023
		Measured Resource			Indicated Resource			Measured and Indicated Resource			Inferred Resource
Deposits/Districts	Newmont Share	Tonnage (000 tonnes)	Grade (Mo %)	Pounds ⁽³⁾(millions)	Tonnage (000 tonnes)	Grade (Mo %)	Pounds ⁽³⁾(millions)	Tonnage (000 tonnes)	Grade (Mo %)	Pounds ⁽³⁾(millions)	Tonnage (000 tonnes)	Grade (Mo %)	Pounds ⁽³⁾(millions)	Metallurgical Recovery ⁽³⁾
NuevaUnión, Chile ⁽⁴⁾	50%	159,500	0.01%	—	231,500	0.01%	—	391,000	0.01%	100	362,300	0.01%	100	52%
Cadia, Australia ⁽⁵⁾⁽⁶⁾	100%	—	—%	—	1,515,400	0.01%	200	1,515,400	0.01%	200	497,000	—%	—	72%
Total Molybdenum		159,500	0.01%	—	1,746,900	0.01%	200	1,906,400	0.01%	200	859,400	0.01%	100	60%

Molybdenum Resources ⁽¹⁾⁽²⁾ - December 31, 2022

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Deposits/Districts

Newmont
Share

Tonnage
(000 tonnes)

Grade
(Mo %)

Pounds ⁽³⁾(millions)

Tonnage
(000 tonnes)

Grade
(Mo %)

Pounds ⁽³⁾(millions)

Tonnage
(000 tonnes)

Grade
(Mo %)

Pounds ⁽³⁾(millions)

Tonnage
(000 tonnes)

Grade
(Mo %)

Pounds ⁽³⁾(millions)

Metallurgical
Recovery ⁽³⁾

NuevaUnión, Chile ⁽⁴⁾

50%

159,500

0.01%

231,500

0.01%

391,000

0.01%

362,300

0.01%

100

52%

Total Molybdenum

159,500

0.01%

231,500

0.01%

391,000

0.01%

362,300

0.01%

100

52%

⁽¹⁾		Resources are reported exclusive of reserves.
⁽²⁾		Resources, at sites in which Newmont is the operator, are estimated at a molybdenum price of $10.00 per pound for 2023. Resources for NuevaUnión are estimated based on a molybdenum price set by NuevaUnión joint venture. Tonnage amounts have been rounded to the nearest 100,000.
⁽³⁾		Pounds are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Pounds may not recalculate as they are rounded to the nearest 100 million in 2023 nearest 10 million in 2022.
⁽⁴⁾		Project is currently undeveloped. Resource estimates provided by NuevaUnión joint venture.
⁽⁵⁾		Amounts presented herein have been rounded to the nearest 100 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties.
⁽⁶⁾		Site acquired through the Newcrest transaction.

Tungsten Resources ⁽¹⁾⁽²⁾ - December 31, 2023

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Deposits/Districts

Newmont
Share

Tonnage
(000 tonnes)

Grade
(W %)

Pounds ⁽³⁾(millions)

Tonnage

(000 tonnes)

Grade
(W %)

Pounds ⁽³⁾(millions)

Tonnage
(000 tonnes)

Grade
(W %)

Pounds ⁽³⁾(millions)

Tonnage
(000 tonnes)

Grade
(W %)

Pounds ⁽³⁾(millions)

Metallurgical
Recovery ⁽³⁾

Telfer Projects, Australia ⁽⁴⁾

100%

—

—%

—

51,700

0.35%

400

51,700

0.35%

400

1,900

0.4%

—

74%

Total Tungsten

—

—%

—

51,700

0.35%

400

51,700

0.35%

400

1,900

0.4%

—

74%

⁽¹⁾		Resources are reported exclusive of reserves.
⁽²⁾		Resources are estimated at a tungsten price of $16.00 per pound for 2023. Tonnage amounts have been rounded to the nearest 100,000.
⁽³⁾		Pounds are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Pounds may not recalculate as they are rounded to the nearest 100 million.
⁽⁴⁾		Site acquired through the Newcrest transaction.

Cautionary Statement Regarding Reserve and Resource Estimates:

The reserves stated herein were prepared in compliance with Subpart 1300 of Regulation S-K adopted by the United States Securities and Exchanges Commission ("the SEC") and represent the amount of gold, copper, silver, lead, zinc, molybdenum and tungsten estimated, at December 31, 2023, could be economically and legally extracted or produced at the time of the reserve determination. The term “economically,” as used in this definition, means that profitable extraction or production has been established or analytically demonstrated in at a minimum, a pre-feasibility study to be viable and justifiable under reasonable investment and market assumptions. The term “legally,” as used in this definition, does not imply that all permits needed for mining and processing have been obtained or that other legal issues have been completely resolved. However, for a reserve to exist, Newmont (or our joint venture partners) must have a justifiable expectation, based on applicable laws and regulations, that issuance of permits or resolution of legal issues necessary for mining and processing at a particular deposit will be accomplished in the ordinary course and in a timeframe consistent with Newmont’s (or our joint venture partners') current mine plans. Reserves in this presentation are aggregated from the proven and probable classes. The term “Proven reserves” used in the tables of the appendix means reserves for which (a) quantity is estimated from dimensions revealed in outcrops, trenches, workings or drill holes; (b) grade and/or quality are estimated from the results of detailed sampling; and (c) the sites for inspection, sampling and measurements are spaced so closely and the geologic character is sufficiently defined that size, shape, depth and mineral content of reserves are well established. The term “Probable reserves” means reserves for which quantity and grade are estimated from information similar to that used for Proven reserves, but the sites for sampling are farther apart or are otherwise less closely spaced. The degree of assurance, although lower than that for Proven reserves, is high enough to assume continuity between points of observation. Newmont classifies all reserves as Probable on its development projects until a year of production has confirmed all assumptions made in the reserve estimates. Proven and Probable reserves include gold, copper, silver, zinc, lead, molybdenum or tungsten attributable to Newmont’s ownership or economic interest. Proven and Probable reserves were calculated using cut-off grades. The term “cutoff grade” means the lowest grade of mineralized material considered economic to process. Cut-off grades vary between deposits depending upon prevailing economic conditions, mineability of the deposit, by-products, amenability of the ore to gold, copper, silver, zinc, lead, molybdenum or tungsten extraction and type of milling or leaching facilities available.

Estimates of Proven and Probable reserves are subject to considerable uncertainty. Such estimates are, or will be, to a large extent, based on the prices of gold, silver, copper, zinc, lead, molybdenum and tungsten and interpretations of geologic data obtained from drill holes and other exploration techniques, which data may not necessarily be indicative of future results. If our reserve estimations are required to be revised using significantly lower gold, silver, zinc, copper, lead, molybdenum and tungsten prices as a result of a decrease in commodity prices, increases in operating costs, reductions in metallurgical recovery or other modifying factors, this could result in material write-downs of our investment in mining properties, goodwill and increased amortization, reclamation and closure charges. Producers use pre-feasibility and feasibility studies for undeveloped ore bodies to derive estimates of capital and operating costs based upon anticipated tonnage and grades of ore to be mined and processed, the predicted configuration of the ore body, expected recovery rates of metals from the ore, the costs of comparable facilities, the costs of operating and processing equipment and other factors. Actual operating and capital cost and economic returns on projects may differ significantly from original estimates. Further, it may take many years from the initial phases of exploration until commencement of production, during which time, the economic feasibility of production may change. Estimates of resources are subject to further exploration and development, are subject to additional risks, and no assurance can be given that they will eventually convert to future reserves. Inferred resources, in particular, have a great amount of uncertainty as to their existence and their economic and legal feasibility. Investors are cautioned not to assume that any part of all of the Inferred resource exists or is economically or legally mineable. The Company cannot be certain that any part or parts of the resource will ever be converted into reserves. In addition, if the price of gold, silver, copper, zinc, lead, molybdenum or tungsten declines from recent levels, if production costs increase, grades decline, recovery rates decrease or if applicable laws and regulations are adversely changed, the indicated level of recovery may not be realized or mineral reserves or resources might not be mined or processed profitably. If we determine that certain of our mineral reserves or resources have become uneconomic, this may ultimately lead to a reduction in our aggregate reported mineral reserves and resources. Consequently, if our actual mineral reserves and resources are less than current estimates, our business, prospects, results of operations and financial position may be materially impaired. For additional information see the “Proven and Probable Reserve" and "Measured and Indicated and Inferred Resource" tables herein.

Cautionary Statement Regarding Forward Looking Statements:

This release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Such forward-looking statements may include, without limitation, estimates and expectations of future production, reserve estimates, exploration outlook and expected expenditure, and operational and financial performance. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties, assumptions and other factors, which could cause actual results to differ materially from future results expressed or implied by the “forward-looking statements”. Such assumptions, include, but are not limited to the key assumptions set forth on page 4 hereof. Investors are also encouraged to refer to the Company’s Form 10-K for its fiscal year 2022, filed with the SEC on February 23, 2023, as updated by the current report on Form 8-K filed with the SEC on July 20, 2023, Form 10-Q for the quarterly period ended September 30, 2023, filed with the SEC on October 26, 2023 as well as Newmont's other SEC filings, including the definitive proxy statement filed with the SEC on September 5, 2023, under the headings “Risk Factors” and “Forward-Looking Statements” for additional information. The Company does not undertake any obligation to release publicly revisions to any “forward-looking statement,” including, without limitation, outlook, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued “forward-looking statement” constitutes a reaffirmation of that statement. Continued reliance on “forward-looking statements” is at investors' own risk.

Investors are also encouraged to review our Form 10-K expected to be filed on, or about, February 27, 2024.

About Newmont

Newmont is the world’s leading gold company and a producer of copper, zinc, lead, and silver. The company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the company has been publicly traded since 1925.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240222480917/en/

news releases

read first

social

legal

Featured

Trending

news releases

CEO.CA Chairman's Briefing

read first

social

legal

Moderators

Members

Featured

Trending