Newmont Corp

Operational Performance and Production Forecast: In 2025, Newmont expects to produce approximately 5.6 million ounces of gold with an all-in sustaining cost (AISC) of $1,620 per ounce. This represents a significant focus on stabilizing production amid a transformational year in 2024, where they surpassed production guidance and generated $2.9 billion in free cash flow, including a record $1.6 billion in the fourth quarter.

Investment and Capital Allocation Strategy: The company aims to maintain strong financial health, ending 2024 with over $3.6 billion in cash and a debt level below $8 billion. Newmont plans to allocate $1.8 billion for sustaining capital and $1.3 billion for development capital into its projects, ensuring ongoing investments in core assets while also returning approximately $2.3 billion to shareholders through dividends and share repurchases.

Challenges with New Assets: Newmont faces integration challenges, notably at its Cadia and Lihir mines, which have encountered hurdles that need to be overcome to unlock their full potential. These challenges include tailings management and the need for significant capital investments to bring these assets to Tier 1 operational standards.