$Newmont Delivers Strong Full-Year and Fourth Quarter 2021 Results NEM | 6 days ago Newmont meets updated full-year guidance with attributable production of 6.0 million gold ounces and 1.3 million gold equivalent ounces; returned $2.3 billion to shareholders in 2021
Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced full year and fourth quarter 2021 results.
2021 HIGHLIGHTS
Produced 6.0 million attributable ounces of gold and 1.3 million attributable gold equivalent ounces of co-products; reported gold CAS* of $785 per ounce and gold AISC* of $1,062 per ounce; met updated full-year 2021 guidance Generated $4.3 billion of cash from continuing operations and $2.6 billion of Free Cash Flow (99.8% attributable to Newmont)* Advanced profitable near-term projects, including Tanami Expansion 2, Ahafo North and Yanacocha Sulfides; $1.4 billion of development capital spend expected in 2022 Delivered the gold industry's first Autonomous Haulage System (AHS) fleet at Boddington and formed an industry-leading strategic alliance with Caterpillar to achieve zero emissions mining and support reaching greenhouse gas (GHG) emissions reduction targets Declared fourth quarter dividend of $0.55 per share for a total declared dividend for 2021 of $2.20 per share; returned $1.8 billion in 2021 through industry-leading dividend framework** Completed $525 million of share repurchases from $1 billion buyback program; extended buyback program through 2022** Ended the year with $5.0 billion of consolidated cash and $8.0 billion of liquidity with a net debt to adjusted EBITDA* ratio of 0.2x Refinanced near-term debt with the industry's first $1 billion sustainability-linked bond; further aligning financing strategy with environmental, social and governance (ESG) commitments Reported reserves of 93 million gold ounces and 65 million gold equivalent ounces, as well as resources of 101 million gold ounces and 104 million gold equivalent ounces*** Announced 2022 attributable production outlookof 6.2 million gold ounces, improving to between 6.2 and 6.8 million gold ounces annually longer-term through 2026**** Announced the acquisition of Buenaventura's 43.65% interest in Minera Yanacocha in February 2022; further enhancing world-class asset ownership with a consistent district consolidation strategy "Newmont has maintained its position as the world's leading gold company with the strongest portfolio of operations and projects in top-tier jurisdictions. In 2021, Newmont generated more than $2.6 billion in free cash flow and $6.0 billion in adjusted EBITDA while advancing our most profitable near-term projects and returning a record $2.3 billion to shareholders. As we move into our next 100 years of sustainable and responsible mining, Newmont will continue to create long-term value for all of our stakeholders through our clear strategic focus, superior operational performance and unwavering commitment to leading ESG practices."
- Tom Palmer, President and Chief Executive Officer
___________________________ *Non-GAAP metrics; see end of this release for reconciliations.
**The dividend framework is non-binding, and an annualized dividend has not been declared by the Board. See cautionary statement at the end of this release, including with respect to dividends and share buybacks.Note that in February 2022, the Board authorized the extension of the term of the buyback program to December 31, 2022.
***See cautionary statement at the end of this release. Total resources presented includes Measured and Indicated resources of 68.3 million gold ounces and Inferred resources of 33.2 million gold ounces. Unless otherwise stated, reserves and resources reflect Newmont's ownership as of December 31, 2021. In February 2022, Newmont acquired Buenaventura's 43.65% interest in Minera Yanacocha, further strengthening 2021 reserve and resources balances with 2.7Moz gold reserves and 11.0Moz gold resources, and 2.7Moz GEO reserves and 7.7Moz GEO resources.
****See discussion of outlook and cautionary statement at the end of this release regarding forward-looking statements.
FULL YEAR AND FOURTH QUARTER 2021 FINANCIAL AND PRODUCTION SUMMARY
$Newmont Expects Gold Output to Rise to 6.2M Oz in 2022 -- Commodity Comment Today 8:08 AM ET (Dow Jones)
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Newmont Corp. is targeting a rise in gold production next year to 6.2 million ounces, growing to as much as 6.8 million ounces annually over a five-year period even as costs are set to fall.
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