Newmont Delivers Solid First Quarter 2021 Results

On track to meet full-year guidance with solid first quarter results; Newmont continues to invest in the Company's future and diverse world-class portfolio


DENVER, Apr 29th 2021 - Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced first quarter 2021 results.


FIRST QUARTER 2021 HIGHLIGHTS

- Produced 1.5 million attributable ounces of gold and 317 thousand attributable gold equivalent ounces from co-products

- Reported gold CAS* of $752 per ounce and AISC* of $1,039 per ounce

- Generated $841 million of cash from continuing operations and $442 million of Free Cash Flow (99 percent attributable to Newmont)*

- Full-year production continues to be back-half weighted, in line with 2021 guidance**

- Declared first quarter dividend of $0.55 per share, consistent with the previous quarter***

- Ended the quarter with $5.5 billion of consolidated cash and $8.5 billion of liquidity with a net debt to adjusted EBITDA* ratio of 0.2x

- Reduced $550 million of debt outstanding with available cash in April 2021

- Executed $3.0B sustainability-linked revolving credit facility, demonstrating Newmont’s unwavering commitment to industry-leading environmental, social and governance (ESG) practices

- First production from Boddington Autonomous Haulage System, delivering safety and productivity improvements; leading the way as the industry’s first autonomous haulage fleet

- Announced acquisition of GT Gold,+ located in the prospective Golden Triangle adding profitable copper and gold exposure to Newmont’s industry-leading project portfolio

- Continued focus on fatality prevention through global application of critical controls


“In the first quarter we delivered a solid financial performance with $1.5 billion in adjusted EBITDA and $442 million in free cash flow, putting Newmont on track to achieve our full-year guidance with improving production expected in the second half of the year. We remain confident in the strength of our business as we invest in our world-class portfolio, strengthening the balance sheet and sustaining our quarterly dividend of $0.55 per share,” said Tom Palmer, President and Chief Executive Officer. “We remain focused on proactively eliminating risks that could lead to a fatality and continue to lead the industry with our safety and sustainability practices. We believe that strong ESG performance is a key indicator of a well-managed business and we continue to hold ourselves accountable to create value and improve lives through sustainable and responsible mining.”

– Tom Palmer, President and Chief Executive Officer

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*Non-GAAP metrics; see footnotes at the end of this release.
**See cautionary statement at end of release regarding forward-looking statements.
***See the cautionary statement at the end of this release, including with respect to future dividends.
+The GT Gold transaction is expected to close in the second quarter of 2021, subject to meeting normal closing conditions. See the Company’s news release, dated March 10, 2021, for additional information.


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https://www.newmont.com/investors/news-release/news-details/2021/Newmont-Delivers-Solid-First-Quarter-2021-Results/default.aspx