The first quarter of 2025 has seen Newmont’s average realised gold price jump 41 per cent compared to the same time last year – bringing in enormous revenue and return for investors.
Despite a slight dip in production brought on by mild contributions from non-core assets – which Newmont spent the quarter sloughing off – the world’s largest gold miner has made hay while the sun is shining on gold.
Delivering 1.54 million ounces across the quarter, each ounce sold for a whopping $2944 ($4624), a record price brought on by investors flocking to the safety of the commodity amid economic uncertainty.
Shareholders are anticipating a robust $US0.25 ($0.39) per share in dividends.
“Following on from a robust fourth quarter performance, Newmont has delivered 1.5 million attributable gold ounces and generated a record first quarter free cash flow of $1.2 billion ($1.8 billion), demonstrating the strength of our unrivaled Tier 1 portfolio,” Newmont president and chief executive officer Tom Palmer said.
“We also successfully completed our non-core divestiture program, generating up to $4.3 billion ($6.7 billion) in total gross proceeds including over $2.5 billion ($3.9 billion) of after-tax cash proceeds in the first half of 2025.
“With these significant achievements and a solid start to the year, we remain firmly on track to meet our 2025 guidance, continuing on our journey towards creating the world’s leading gold and copper portfolio for the benefit of our shareholders.”
Looking ahead, Newmont has provided guidance for 2025, expecting attributable gold production of approximately 5.9 million ounces.
The company plans sustaining capital expenditures of approximately $1.8 billion ($2.8 billion) and development capital expenditures of approximately $1.3 billion ($2 billion) to progress key near-term development projects.
Newmont’s Tier 1 portfolio now comprises 12 operations, including Boddington, Tanami and Cadia in Australia, Lihir in Papua New Guinea, Brucejack and Red Chris in Canada, Ahafo in Ghana, Peñasquito in Mexico, Cerro Negro in Argentina, Yanacocha in Peru, and Merian in Suriname.
