HighGold Mining

Newmont Corporation Reports 2020 Mineral Reserves of 94 Million Gold Ounces Replacing 80 Percent of Depletion

DENVER / Feb 10, 2021 / Business Wire / Newmont Corporation (NYSE: NEM, TSX: NGT) reported gold Mineral Reserves (reserves) of 94.2 million attributable ounces for 2020 as compared to the Company’s adjusted1 95.7 million ounces at the end of 2019. Newmont exceeded its 2020 conversion target by replacing 80 percent of all depletion and maintaining its industry-leading position with the largest gold reserves.

PERCENTAGE OF GOLD RESERVES BY JURISDICTION (North America includes 38.5 percent interest in Nevada Gold Mines; South America includes Newmont's 40 percent interest in Pueblo Viejo.)

“As the world’s leading gold company, Newmont has an exceptional history of exploration success and a track record of consistently delivering on our commitments,” said Tom Palmer, President and Chief Executive Officer. “In 2020, we added 6 million ounces of gold reserves overcoming the challenges of an unprecedented year. Newmont’s ability to replace reserves is underpinned by our disciplined operating model and world-class portfolio which will support stable production for decades to come.”

KEY HIGHLIGHTS AND DIFFERENTIATORS:

  • Industry’s largest gold Mineral Reserves of 94.2 million ounces
  • Over 90 percent of gold reserves in top-tier jurisdictions
  • Addition of 6 million ounces in 2020, approximately 5 million ounces added through drilling
  • Gold reserve life at operating sites of >10 years underpinned by a strong base at Boddington, Tanami, Ahafo, Yanacocha, Peñasquito, and Nevada Gold Mines (NGM), and further enhanced from our seven other operating mines and equity ownership in Pueblo Viejo
  • Significant gold reserves per share with 117 ounces per 1,000 shares, highest in the industry
  • Measured & Indicated gold Mineral Resources of 69.6 million ounces; Inferred of 31.6 million ounces
  • Significant exposure to copper with 6.9 million tonnes in reserves, 8.0 million tonnes in Measured & Indicated resources and 3.9 million tonnes in Inferred resources
  • Additional exposure to silver, zinc, and lead mainly at Peñasquito

PERCENTAGE OF GOLD RESERVES BY JURISDICTION

Newmont’s reserve base is a key differentiator with over 90 percent of gold reserves located in top-tier jurisdictions, an operating reserve life of more than 10 years and average reserve grade of 1.03 grams per tonne. In addition, Newmont has substantial exposure to other metals, with nearly 65 million gold equivalent ounces2 from copper, silver, zinc, lead and molybdenum.

PROVEN AND PROBABLE GOLD RESERVES3
In millions of ounces    
2019 Gold Reserves  

95.7

 

Additions  

4.9

 

Net Revisions  

1.1

 

Depletion  

(7.5

)

2020 Gold Reserves  

94.2

 

For 2020, Newmont reported 94.2 million ounces of gold Mineral Reserves slightly lower than prior year total of 95.7 million ounces after adjusting for the KCGM and Red Lake divestments. Depletion of 7.5 million ounces was largely replaced by additions before revisions of 4.9 million ounces and net revisions of 1.1 million ounces primarily from mine plan improvements.

Additions before revisions of 4.9 million ounces through exploration met the Company’s target despite challenges created by the pandemic with travel restrictions and additional safety protocols. Notable reserve additions for the year from Newmont’s operating sites included:

  • Ahafo added 0.8 million ounces primarily from drilling at Subika Underground
  • Tanami added 0.6 million ounces from additional drilling at Auron and Federation
  • Merian added 0.6 million equity ounces primarily through drilling at the Merian 2 Open Pit
  • Nevada Gold Mines added 0.8 million equity ounces and Pueblo Viejo added 0.7 million equity ounces

Favorable net revisions include 1.7 million ounces at Boddington due to the conversion of a layback in the North Open Pit from resource to reserve, partially offset by net negative revision at NGM of 0.4 million ounces and revisions at Ahafo, Cripple Creek & Victor (CC&V), and Musselwhite from mine model and design updates.

Newmont has continued to make progress at recently acquired sites, demonstrating the Company’s ability to improve operational performance and position operations for future growth through its proven operating model and disciplined technical standards. Highlights from select sites in 2020 net of revisions included:

  • Éléonore replaced depletion with reserves of 1.3 million ounces, as a result of positive drilling results along with cost improvements from Newmont’s Full Potential program
  • Porcupine more than offset depletion, with reserves of 3 million ounces largely due to progressing study work at the Pamour pit and nearly replacing depletion at the Borden Underground
  • Cerro Negro replaced depletion with reserves of 2.6 million ounces by advancing infill drilling at underground mines

Newmont’s 38.5 percent interest in NGM represented 17.4 million equity ounces of gold reserves at year end, as compared to 18.6 million equity ounces at the end of 2019. PV represented 4.1 million equity ounces in gold reserves at year end as compared to 3.8 million equity ounces at the end of 2019, representing Newmont’s 40 percent interest.

Gold reserve grade held constant at 1.03 grams per tonne compared to the prior year.

MEASURED & INDICATED GOLD RESOURCES4

  INFERRED GOLD RESOURCES4
In millions of ounces   In millions of ounces
2019 Gold Resources  

74.1

 

  2019 Gold Resources  

29.4

 

Additions  

3.4

 

  Additions  

3.5

 

Acquisitions  

1.2

 

  Acquisitions  

0.3

 

Net Revisions  

(1.8

)

  Net Revisions  

(0.2

)

Conversions  

(7.3

)

  Conversions  

(1.4

)

2020 Gold Resources  

69.6

 

  2020 Gold Resources  

31.6

 

In 2020, Newmont reported Measured and Indicated gold Mineral Resources of 69.6 million ounces as compared to 74.1 million ounces in the prior year. Inferred gold Mineral Resources totaled 31.6 million ounces as compared to 29.4 million ounces in 2019. The impact from the pandemic required Newmont to prioritize drilling programs in existing operations due to travel restrictions and impacted our ability to progress greenfield resources.

Measured and Indicated Gold Mineral Resources added through exploration programs were 3.4 million ounces and included notable additions before revisions at Yanacocha of 0.5 million equity ounces and 0.3 million ounces at Ahafo South, Porcupine and Éléonore. Additionally, NGM added 0.9 million equity ounces.

Measured and Indicated Gold Mineral Resources reported negative revisions of 1.8 million ounces mainly driven by Porcupine of 2.4 million ounces primarily due to updated study work at the Dome and Pamour West Open Pits partially offset by positive revisions in North and South America.

Inferred Gold Mineral Resources added through exploration programs were 3.5 million ounces and included notable additions at Tanami of 1.4 million ounces, Merian of 0.5 million equity ounces, Cerro Negro of 0.5 million ounces and Ahafo South of 0.4 million ounces. Inferred Gold Mineral Resources had negative net revisions of 0.2 million ounces.

The formation of the MARA project at Agua Rica increased Measured and Indicated gold Mineral Resources by 1.2 million ounces and Inferred Gold Resources by 0.4 million ounces.

Newmont’s Measured and Indicated gold Mineral Resource grade decreased to 0.65 grams per tonne compared to 0.70 grams per tonne in the prior year largely from higher grade being converted to reserves. Inferred gold Mineral Resource grade of 0.65 grams per tonne increased compared with 0.63 grams per tonne from 2019.

OTHER METALS

Newmont’s base metal reserves were largely stable from 2019. Copper reserves increased slightly to 6.9 million tonnes from 6.8 million tonnes in 2019. Copper resources increased to 8.0 million tonnes of Measured & Indicated and 3.9 million tonnes of Inferred from 6.8 million tonnes of Measured and Indicated and 3.5 million tonnes of Inferred due to additions at Newmont’s Nueva Union joint venture and the formation of the Agua Rica joint venture.

Silver reserves decreased from 652 million ounces to 613 million ounces, largely due to depletion and the temporary suspension of exploration activities at Peñasquito from COVID-19 restrictions. Measured and Indicated silver resources were 482 million ounces and Inferred were 204 million ounces with revisions at Peñasquito, offsetting additions from Nueva Union and the MARA project at Agua Rica.

Lead reserves decreased to 1.3 million tonnes from 1.5 million, zinc reserves also decreased to 3.1 million tonnes from 3.4 million tonnes. In both cases the reduction was primarily due to depletion and the suspension of exploration activities at Peñasquito from COVID-19 restrictions. Measured & Indicated zinc resources decreased to 1.7 million tonnes from 1.9 million tonnes and Inferred zinc resources decreased to 0.8 million tonnes from 1.0 million tonnes. Measured & Indicated lead resources remained consistent at 0.8 million tonnes and Inferred lead resources decreased to 0.4 million tonnes from 0.5 million tonnes.

EXPLORATION OUTLOOK

Newmont’s total exploration expenditure is expected to be approximately $215 million in 2021 with 80 percent of total exploration investment dedicated to near-mine expansion programs and the remaining 20 percent allocated to the advancement of greenfield projects and innovation programs.

Additionally, Newmont’s share of exploration investment for its non-managed joint ventures will total approximately $35 million.

Geographically, the Company expects to invest approximately 28 percent in North America, 25 percent in South America, 20 percent in Australia and the remainder in Africa and other locations.

GOLD RESERVE SENSITIVITY

A $100 increase in gold price would result in an approximate four percent increase in gold reserves while a $100 decrease in gold price would result in an approximate seven percent decrease in gold reserves. These sensitivities assume an oil price of $50 per barrel (WTI), Australian dollar exchange rate of $0.75 and Canadian dollar exchange rate of $0.77.

For additional details on Newmont’s reported Gold, Copper, Silver, Zinc, Lead and Molybdenum Mineral Reserves and Mineral Resources, please refer to the tables at the end of this release.

KEY RESERVE AND RESOURCE ASSUMPTIONS:

 

 

Years Ended December 31,

 

 

2020

 

2019

Gold Reserves (US$/oz.)

 

$1,200

 

$1,200

Gold Resources (US$/oz.)

 

$1,400

 

$1,400

Copper Reserves (US$/lb.)

 

$2.75

 

$2.75

Copper Resources (US$/lb.)

 

$3.25

 

$3.25

Silver Reserves (US$/oz.)

 

$17.00

 

$16.00

Silver Resources (US$/oz.)

 

$20.00

 

$20.00

Zinc Reserves (US$/lb.)

 

$1.15

 

$1.20

Zinc Resources (US$/lb.)

 

$1.40

 

$1.45

Lead Reserves (US$/lb.)

 

$0.90

 

$0.95

Lead Resources (US$/lb.)

 

$1.10

 

$1.15

Australian Dollar (A$:US$)

 

$0.75

 

$0.75

Canadian Dollar (C$:US$)

 

$0.77

 

$0.77

Mexican Peso (M$:US$)

 

$19.50

 

$19.50

West Texas Intermediate (US$/bbl.)

 

$50

 

$60

         

1

 

Newmont’s reported 2019 gold Mineral Reserves of 100.2 million ounces, gold Measured and Indicated Mineral Resources of 76.7 million ounces, and gold Inferred Mineral Resources of 31.3 million ounces were adjusted for the sale of Red Lake and the Company’s 50 percent interest in Kalgoorlie Consolidated Gold Mines (KCGM), which occurred during first quarter of 2020. Combined, these sites represented approximately 4.5 million ounces of gold Mineral Reserves and 2.6 million ounces of Measured and Indicated Mineral Resources (resources), bringing Newmont’s adjusted 2019 gold Mineral Reserves to 95.7 million ounces and gold Measured and Indicated Mineral Resources to 74.1 million ounces. Newmont's adjusted 2019 Inferred gold Mineral Resources were 29.4 million ounces, after removal of 1.9 million ounces for the sale of Red Lake and KCGM.

2

 

 

Gold Equivalent Ounces calculated using Mineral Reserve pricing as shown in the Key Reserves and Resource Assumptions table above and metallurgical recoveries for each metal on a site by site basis.

3

 

2019 Gold Reserves are adjusted for divestiture of Red Lake and KCGM.

4

 

2019 Measured & Indicated Gold Resource and 2019 Inferred Gold Resource adjusted for divestiture of Red Lake and KCGM.

     

RESERVE AND RESOURCE TABLES

Proven and Probable reserves are based on extensive drilling, sampling, mine modeling and metallurgical testing from which we determine economic feasibility. Newmont’s metal price assumptions follow SEC guidance not to exceed a three year trailing average. 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 included in this release list the average metallurgical recovery rate for each deposit, which takes into account the assumed processing methods. The cut-off grade, or lowest grade of material considered economic to process, varies with material type, price, metallurgical recoveries, operating costs and co- or by-product credits. 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, silver, copper, lead, zinc and molybdenum will be realized. Ounces of gold and silver or tonnes of copper, zinc, lead, 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, silver, copper, zinc, lead, or molybdenum, as well as increased production costs or reduced metallurgical recovery rates, could render certain Proven and Probable reserves containing relatively lower grades of mineralization 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. Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories. Ounces of gold and silver or tonnes of copper, zinc, lead, and molybdenum included in the Measured, Indicated and Inferred resources are those contained prior to losses during metallurgical treatment. Market fluctuations in the price of gold, silver, copper, zinc, lead and molybdenum, as well as increased production costs or reduced metallurgical recovery rates, could change future estimates of resources. Please refer to the reserves and resources cautionary statement at the end of the release.

We publish reserves annually, and will recalculate reserves at December 31, 2021, 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 2021. Reserve disclosures as at December 31, 2021 will be presented in the Annual Report on Form 10-K, expected to be filed in February 2022, in accordance with the new Regulation S-K 1300 requirements of the SEC; whereas reserve disclosures as at December 31, 2020, presented herein, have been prepared in accordance with the SEC’s Industry Guide 7.

Attributable Proven, Probable and Combined Gold Reserves (1), Metric Units

 

December 31, 2020

 

December 31, 2019

 

 

 

 

Proven Reserves

 

Probable Reserves

 

Proven and Probable Reserves

 

 

 

Proven and Probable Reserves

 

 

Newmont

 

Tonnage (2)

 

Grade

 

Gold (3)

 

Tonnage (2)

 

Grade

 

Gold (3)

 

Tonnage (2)

 

Grade

 

Gold (3)

 

Metallurgical

 

Tonnage (2)

 

Grade

 

Gold (3)

Deposits/Districts

 

Share

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

Recovery

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

North America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CC&V Open Pits (4)

 

100

%

 

85,300

 

0.50

 

1,370

 

19,900

 

0.38

 

240

 

105,200

 

0.48

 

1,610

 

62

%

 

118,500

 

0.50

 

1,910

CC&V Leach Pads (5)

 

100

%

 

 

 

 

 

33,000

 

0.82

 

880

 

33,000

 

0.82

 

880

 

57

%

 

31,600

 

0.88

 

890

Total CC&V, Colorado

 

 

 

85,300

 

0.50

 

1,370

 

52,900

 

0.66

 

1,120

 

138,200

 

0.56

 

2,490

 

61

%

 

150,100

 

0.58

 

2,800

Red Lake, Canada (6)

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

 

%

 

4,600

 

8.68

 

1,300

Musselwhite, Canada (7)

 

100

%

 

1,900

 

6.24

 

380

 

7,000

 

6.25

 

1,410

 

8,900

 

6.25

 

1,790

 

95

%

 

9,900

 

6.52

 

2,090

Porcupine Underground (8)

 

100

%

 

2,200

 

7.86

 

550

 

2,800

 

6.14

 

550

 

5,000

 

6.90

 

1,100

 

91

%

 

4,900

 

7.33

 

1,150

Porcupine Open Pit (9)

 

100

%

 

8,200

 

1.53

 

410

 

34,100

 

1.40

 

1,540

 

42,300

 

1.43

 

1,950

 

94

%

 

44,600

 

1.16

 

1,670

Total Porcupine, Canada

 

 

 

10,400

 

2.87

 

960

 

36,900

 

1.76

 

2,090

 

47,300

 

2.01

 

3,050

 

93

%

 

49,500

 

1.77

 

2,820

Éléonore, Canada (10)

 

100

%

 

1,400

 

5.75

 

260

 

6,400

 

4.84

 

1,000

 

7,800

 

5.00

 

1,260

 

93

%

 

7,400

 

5.31

 

1,280

Peñasquito Open Pit

 

100

%

 

100,100

 

0.64

 

2,060

 

248,100

 

0.58

 

4,620

 

348,200

 

0.60

 

6,680

 

71

%

 

409,700

 

0.60

 

7,860

Peñasquito Stockpiles

 

100

%

 

11,800

 

0.65

 

250

 

27,800

 

0.19

 

170

 

39,600

 

0.33

 

420

 

53

%

 

31,800

 

0.22

 

220

Total Peñasquito, Mexico (11)

 

 

 

111,900

 

0.64

 

2,310

 

275,900

 

0.54

 

4,790

 

387,800

 

0.57

 

7,100

 

70

%

 

441,500

 

0.57

 

8,080

TOTAL NORTH AMERICA

 

 

 

210,900

 

0.78

 

5,280

 

379,100

 

0.85

 

10,410

 

590,000

 

0.83

 

15,690

 

78

%

 

663,000

 

0.86

 

18,370

South America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Yanacocha Open Pits (12)

 

51.35

%

 

5,800

 

0.64

 

120

 

89,300

 

0.66

 

1,900

 

95,100

 

0.66

 

2,020

 

60

%

 

107,700

 

0.65

 

2,260

Yanacocha Underground (13)

 

51.35

%

 

 

 

 

 

7,000

 

6.20

 

1,390

 

7,000

 

6.20

 

1,390

 

97

%

 

6,000

 

6.88

 

1,310

Total Yanacocha, Peru

 

 

 

5,800

 

0.64

 

120

 

96,300

 

1.06

 

3,290

 

102,100

 

1.04

 

3,410

 

75

%

 

113,700

 

0.98

 

3,570

Merian, Suriname (14)

 

75

%

 

50,100

 

1.30

 

2,100

 

57,400

 

1.01

 

1,870

 

107,500

 

1.15

 

3,970

 

93

%

 

87,700

 

1.23

 

3,480

Cerro Negro, Argentina (15)

 

100

%

 

2,400

 

8.35

 

630

 

6,600

 

9.10

 

1,940

 

9,000

 

8.90

 

2,570

 

91

%

 

8,400

 

9.70

 

2,600

Pueblo Viejo Open Pits

 

40

%

 

9,500

 

2.41

 

730

 

10,100

 

2.27

 

740

 

19,600

 

2.34

 

1,470

 

91

%

 

12,300

 

2.70

 

1,070

Pueblo Viejo Stockpiles (16)

 

40

%

 

 

 

 

 

35,800

 

2.30

 

2,640

 

35,800

 

2.30

 

2,640

 

89

%

 

35,300

 

2.41

 

2,740

Total Pueblo Viejo, Dominican Republic(17)

 

 

 

9,500

 

2.41

 

730

 

45,900

 

2.29

 

3,380

 

55,400

 

2.31

 

4,110

 

90

%

 

47,600

 

2.49

 

3,810

NuevaUnión, Chile (18)

 

50

%

 

 

 

 

 

341,100

 

0.47

 

5,110

 

341,100

 

0.47

 

5,110

 

66

%

 

341,100

 

0.47

 

5,150

Norte Abierto, Chile (19)

 

50

%

 

 

 

 

 

598,800

 

0.60

 

11,620

 

598,800

 

0.60

 

11,620

 

74

%

 

598,800

 

0.60

 

11,620

TOTAL SOUTH AMERICA

 

 

 

67,800

 

1.65

 

3,580

 

1,146,100

 

0.74

 

27,210

 

1,213,900

 

0.79

 

30,790

 

79

%

 

1,197,300

 

0.79

 

30,230

Australia

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Boddington Open Pit (20)

 

100

%

 

247,100

 

0.68

 

5,430

 

287,600

 

0.66

 

6,060

 

534,700

 

0.67

 

11,490

 

85

%

 

481,000

 

0.69

 

10,720

Boddington Stockpiles (16)

 

100

%

 

1,600

 

0.79

 

40

 

84,800

 

0.43

 

1,160

 

86,400

 

0.43

 

1,200

 

78

%

 

85,300

 

0.44

 

1,210

Total Boddington, Western Australia

 

 

 

248,700

 

0.69

 

5,470

 

372,400

 

0.60

 

7,220

 

621,100

 

0.64

 

12,690

 

85

%

 

566,300

 

0.65

 

11,930

Tanami, Northern Territory (21)

 

100

%

 

14,600

 

4.89

 

2,290

 

21,600

 

5.15

 

3,580

 

36,200

 

5.05

 

5,870

 

98

%

 

33,200

 

5.31

 

5,680

Kalgoorlie Open Pit and Underground

 

50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

%

 

24,100

 

2.02

 

1,560

Kalgoorlie Stockpiles

 

50

%

 

 

 

 

 

 

 

 

 

 

 

 

 

%

 

65,000

 

0.76

 

1,580

Total Kalgoorlie, Western Australia (22)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

%

 

89,100

 

1.10

 

3,140

TOTAL AUSTRALIA

 

 

 

263,300

 

0.92

 

7,760

 

394,000

 

0.85

 

10,800

 

657,300

 

0.88

 

18,560

 

89

%

 

688,600

 

0.94

 

20,750

Africa

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ahafo South Open Pits (23)

 

100

%

 

11,900

 

2.41

 

910

 

38,100

 

1.75

 

2,140

 

50,000

 

1.90

 

3,050

 

90

%

 

57,200

 

1.90

 

3,490

Ahafo South Underground (24)

 

100

%

 

7,500

 

3.91

 

950

 

9,600

 

3.23

 

990

 

17,100

 

3.53

 

1,940

 

94

%

 

14,500

 

3.29

 

1,540

Ahafo South Stockpiles (16)

 

100

%

 

36,200

 

0.92

 

1,070

 

 

 

 

 

36,200

 

0.92

 

1,070

 

88

%

 

38,300

 

0.92

 

1,140

Total Ahafo South, Ghana

 

 

 

55,600

 

1.64

 

2,930

 

47,700

 

2.04

 

3,130

 

103,300

 

1.82

 

6,060

 

91

%

 

110,000

 

1.74

 

6,170

Ahafo North, Ghana (25)

 

100

%

 

 

 

 

 

45,100

 

2.40

 

3,480

 

45,100

 

2.40

 

3,480

 

91

%

 

45,100

 

2.40

 

3,470

Akyem Open Pit (26)

 

100

%

 

17,100

 

1.67

 

920

 

17,100

 

1.73

 

950

 

34,200

 

1.70

 

1,870

 

91

%

 

38,900

 

1.70

 

2,120

Akyem Stockpiles (16)

 

100

%

 

15,100

 

0.82

 

400

 

 

 

 

 

15,100

 

0.82

 

400

 

90

%

 

16,400

 

0.88

 

460

Total Akyem, Ghana

 

 

 

32,200

 

1.27

 

1,320

 

17,100

 

1.73

 

950

 

49,300

 

1.43

 

2,270

 

90

%

 

55,300

 

1.46

 

2,580

TOTAL AFRICA

 

 

 

87,800

 

1.51

 

4,250

 

109,900

 

2.14

 

7,560

 

197,700

 

1.86

 

11,810

 

91

%

 

210,400

 

1.81

 

12,220

Nevada

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NGM Open Pits

 

38.5

%

 

10,500

 

1.68

 

570

 

123,800

 

1.22

 

4,870

 

134,300

 

1.26

 

5,440

 

70

%

 

151,700

 

1.22

 

5,940

NGM Stockpiles (16)

 

38.5

%

 

33,300

 

2.36

 

2,530

 

 

 

 

 

33,300

 

2.36

 

2,530

 

71

%

 

37,100

 

2.38

 

2,830

NGM Underground

 

38.5

%

 

15,200

 

10.07

 

4,930

 

14,500

 

9.61

 

4,490

 

29,700

 

9.85

 

9,420

 

88

%

 

30,300

 

10.14

 

9,830

Total NGM (27)

 

 

 

59,000

 

4.23

 

8,030

 

138,300

 

2.11

 

9,360

 

197,300

 

2.74

 

17,390

 

80

%

 

219,100

 

2.64

 

18,600

TOTAL NEVADA

 

 

 

59,000

 

4.23

 

8,030

 

138,300

 

2.11

 

9,360

 

197,300

 

2.74

 

17,390

 

80

%

 

219,100

 

2.64

 

18,600

TOTAL NEWMONT

 

 

 

688,800

 

1.31

 

28,900

 

2,167,400

 

0.94

 

65,340

 

2,856,200

 

1.03

 

94,240

 

82

%

 

2,978,400

 

1.05

 

100,170

(1)

 

See cautionary statement regarding reserves and resources on page 15 hereof. 2020 and 2019 reserves were estimated at a gold price of $1,200 per ounce unless otherwise noted.

(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 10,000.

(4)

 

Cut-off grades utilized in 2020 reserves were as follows: oxide mill material not less than 0.89 gram per tonne and leach material not less than 0.16 gram per tonne.

(5)

 

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.

(6)

 

Red Lake was sold during 2020 and classified as held for sale as of December 31, 2019.

(7)

 

Cut-off grade utilized in 2020 reserves not less than 3.45 gram per tonne.

(8)

 

Cut-off grade utilized in 2020 reserves not less than 2.50 gram per tonne.

(9)

 

Cut-off grade utilized in 2020 reserves not less than 0.44 gram per tonne.

(10)

 

Cut-off grade utilized in 2020 reserves not less than 4.50 gram per tonne.

(11)

 

Gold cut-off grade varies with level of silver, lead and zinc credits.

(12)

 

Gold cut-off grades utilized in 2020 reserves were as follows: oxide leach material not less than 0.13 gram per tonne; oxide mill material not less than 0.49 gram per tonne; and refractory mill material not less than 1.49 gram per tonne.

(13)

 

Gold cut-off grades utilized in 2020 reserves not less than 2.10 gram per tonne.

(14)

 

Cut-off grade utilized in 2020 reserves not less than 0.31 gram per tonne.

(15)

 

Cut-off grade utilized in 2020 reserves not less than 5.85 gram per tonne.

(16)

 

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.

(17)

 

Reserve estimates provided by Barrick, the operator of Pueblo Viejo.

(18)

 

Project is currently undeveloped. Reserve estimates provided by the NuevaUnión joint venture.

(19)

 

Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture

(20)

 

Gold cut-off grade varies with level of copper credits.

(21)

 

Cut-off grade utilized in 2020 reserves not less than 1.70 gram per tonne.

(22)

 

Kalgoorlie was sold during 2020 and classified as held for sale as of December 31, 2019.

(23)

 

Cut-off grade utilized in 2020 reserves not less than 0.67 gram per tonne.

(24)

 

Cut-off grade utilized in 2020 reserves not less than 3.10 gram per tonne.

(25)

 

Includes undeveloped reserves in the Ahafo trend totaling 3.4 million ounces. Cut-off grade utilized in 2020 reserves not less than 0.50 gram per tonne.

(26)

 

Cut-off grade utilized in 2020 reserves not less than 0.57 gram per tonne.

(27)

 

Reserve estimates provided by Barrick, the operator of the NGM joint venture.

     

Attributable Gold Mineral Resources (1)(2) - December 31, 2020, Metric Units

 

 

 

 

Measured Resource

 

Indicated Resource

 

Measured and Indicated
Resource (3)

 

Inferred Resource

 

 

Newmont

 

Tonnage

 

Grade

 

Gold

 

Tonnage

 

Grade

 

Gold

 

Tonnage

 

Grade

 

Gold

 

Tonnage

 

Grade

 

Gold

Deposits/Districts

 

Share

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

North America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CC&V, Colorado

 

100

%

 

103,200

 

0.42

 

1,400

 

57,800

 

0.38

 

710

 

161,000

 

0.41

 

2,110

 

20,000

 

0.35

 

220

Musselwhite, Canada

 

100

%

 

900

 

4.00

 

110

 

1,900

 

3.72

 

230

 

2,800

 

3.81

 

340

 

2,700

 

4.65

 

410

Porcupine Underground

 

100

%

 

100

 

5.41

 

20

 

500

 

6.68

 

110

 

600

 

6.42

 

130

 

1,900

 

4.20

 

260

Porcupine Open Pit

 

100

%

 

1,400

 

0.72

 

30

 

83,300

 

1.40

 

3,750

 

84,700

 

1.39

 

3,780

 

77,100

 

1.24

 

3,070

Total Porcupine, Canada

 

 

 

1,500

 

1.04

 

50

 

83,800

 

1.43

 

3,860

 

85,300

 

1.43

 

3,910

 

79,000

 

1.31

 

3,330

Éléonore, Canada

 

100

%

 

300

 

5.13

 

50

 

2,700

 

4.44

 

390

 

3,000

 

4.51

 

440

 

2,500

 

5.65

 

460

Peñasquito, Mexico

 

100

%

 

34,900

 

0.28

 

310

 

241,900

 

0.27

 

2,110

 

276,800

 

0.27

 

2,420

 

150,900

 

0.40

 

1,910

Noche Buena, Mexico

 

50

%

 

 

 

 

 

27,500

 

0.37

 

330

 

27,500

 

0.37

 

330

 

2,500

 

0.22

 

20

Coffee, Canada

 

100

%

 

1,000

 

2.01

 

60

 

54,500

 

1.19

 

2,080

 

55,500

 

1.20

 

2,140

 

6,800

 

1.07

 

230

Galore Creek, Canada (4)

 

50

%

 

128,400

 

0.36

 

1,510

 

423,400

 

0.23

 

3,120

 

551,800

 

0.26

 

4,630

 

99,100

 

0.21

 

670

TOTAL NORTH AMERICA

 

 

 

270,200

 

0.40

 

3,490

 

893,500

 

0.45

 

12,830

 

1,163,700

 

0.44

 

16,320

 

363,500

 

0.62

 

7,250

South America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Conga, Peru

 

51.35

%

 

 

 

 

 

356,300

 

0.65

 

7,490

 

356,300

 

0.65

 

7,490

 

118,400

 

0.39

 

1,480

Yanacocha Open Pit

 

51.35

%

 

4,400

 

0.45

 

70

 

66,600

 

0.43

 

930

 

71,000

 

0.44

 

1,000

 

98,700

 

0.81

 

2,560

Yanacocha Underground

 

51.35

%

 

 

6.29

 

10

 

1,800

 

6.28

 

370

 

1,800

 

6.28

 

380

 

1,900

 

4.93

 

300

Total Yanacocha, Peru

 

 

 

4,400

 

0.57

 

80

 

68,400

 

0.59

 

1,300

 

72,800

 

0.59

 

1,380

 

100,600

 

0.88

 

2,860

Merian, Suriname

 

75

%

 

7,300

 

0.92

 

220

 

38,400

 

1.07

 

1,320

 

45,700

 

1.05

 

1,540

 

32,600

 

0.86

 

900

Cerro Negro Underground

 

100

%

 

100

 

4.68

 

10

 

7,000

 

7.15

 

1,600

 

7,100

 

7.11

 

1,610

 

2,600

 

7.62

 

630

Cerro Negro Open Pit

 

100

%

 

900

 

4.40

 

130

 

1,000

 

4.09

 

130

 

1,900

 

4.24

 

260

 

100

 

3.49

 

10

Total Cerro Negro, Argentina

 

100

%

 

1,000

 

4.43

 

140

 

8,000

 

6.77

 

1,730

 

9,000

 

6.51

 

1,870

 

2,700

 

7.52

 

640

Pueblo Viejo, Dominican Republic (5)

 

40

%

 

34,800

 

2.02

 

2,260

 

56,700

 

1.88

 

3,430

 

91,500

 

1.93

 

5,690

 

27,500

 

1.79

 

1,580

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

Norte Abierto, Chile (7)

 

50

%

 

77,300

 

0.61

 

1,500

 

596,900

 

0.49

 

9,310

 

674,200

 

0.50

 

10,810

 

369,600

 

0.37

 

4,370

Aqua Rica, Argentina (8)

 

18.75

%

 

141,900

 

0.25

 

1,150

 

137,400

 

0.15

 

650

 

279,300

 

0.20

 

1,800

 

139,900

 

0.09

 

410

TOTAL SOUTH AMERICA

 

 

 

271,500

 

0.62

 

5,420

 

1,380,400

 

0.62

 

27,490

 

1,651,900

 

0.62

 

32,910

 

1,031,100

 

0.46

 

15,290

Australia

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Boddington, Western Australia

 

100

%

 

62,500

 

0.51

 

1,030

 

149,300

 

0.51

 

2,460

 

211,800

 

0.51

 

3,490

 

3,900

 

0.45

 

60

Tanami Open Pit

 

100

%

 

3,600

 

1.85

 

210

 

14,200

 

1.75

 

800

 

17,800

 

1.77

 

1,010

 

7,600

 

2.07

 

510

Tanami Underground

 

100

%

 

300

 

2.71

 

30

 

3,000

 

4.63

 

450

 

3,300

 

4.46

 

480

 

12,000

 

5.71

 

2,200

Total Tanami, Northern Territory

 

100

%

 

3,900

 

1.91

 

240

 

17,200

 

2.25

 

1,250

 

21,100

 

2.19

 

1,490

 

19,600

 

4.29

 

2,710

TOTAL AUSTRALIA

 

 

 

66,400

 

0.60

 

1,270

 

166,500

 

0.69

 

3,710

 

232,900

 

0.67

 

4,980

 

23,500

 

3.65

 

2,770

Africa

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ahafo South

 

100

%

 

500

 

0.63

 

10

 

24,800

 

1.15

 

920

 

25,300

 

1.14

 

930

 

12,300

 

1.36

 

540

Ahafo Underground

 

100

%

 

 

 

 

 

15,900

 

3.96

 

2,020

 

15,900

 

3.96

 

2,020

 

6,400

 

3.30

 

680

Total Ahafo South, Ghana

 

 

 

500

 

0.63

 

10

 

40,700

 

2.25

 

2,940

 

41,200

 

2.23

 

2,950

 

18,700

 

2.03

 

1,220

Ahafo North Open Pits, Ghana

 

100

%

 

2,000

 

1.24

 

80

 

8,300

 

1.99

 

530

 

10,300

 

1.84

 

610

 

7,100

 

1.78

 

410

Akyem Open Pits

 

100

%

 

900

 

0.54

 

20

 

1,400

 

0.54

 

30

 

2,300

 

0.54

 

50

 

2,600

 

1.20

 

100

Akyem Underground

 

100

%

 

 

 

 

 

5,300

 

3.85

 

650

 

5,300

 

3.85

 

650

 

3,700

 

3.31

 

390

Total Akyem, Ghana

 

 

 

900

 

0.54

 

20

 

6,700

 

3.16

 

680

 

7,600

 

2.86

 

700

 

6,300

 

2.42

 

490

TOTAL AFRICA

 

 

 

3,400

 

0.96

 

110

 

55,700

 

2.32

 

4,150

 

59,100

 

2.24

 

4,260

 

32,100

 

2.05

 

2,120

Nevada

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NGM Open Pits and Stockpiles

 

38.5

%

 

17,100

 

1.56

 

860

 

159,300

 

0.98

 

5,020

 

176,400

 

1.04

 

5,880

 

53,300

 

0.78

 

1,330

NGM Underground

 

38.5

%

 

5,900

 

7.11

 

1,340

 

19,100

 

6.43

 

3,950

 

25,000

 

6.59

 

5,290

 

12,600

 

6.91

 

2,790

Total NGM (9)

 

 

 

23,000

 

2.97

 

2,200

 

178,400

 

1.56

 

8,970

 

201,400

 

1.72

 

11,170

 

65,900

 

1.94

 

4,120

TOTAL NEVADA

 

 

 

23,000

 

2.97

 

2,200

 

178,400

 

1.56

 

8,970

 

201,400

 

1.72

 

11,170

 

65,900

 

1.94

 

4,120

TOTAL NEWMONT

 

 

 

634,500

 

0.61

 

12,490

 

2,674,500

 

0.67

 

57,150

 

3,309,000

 

0.65

 

69,640

 

1,516,100

 

0.65

 

31,550

                                                     

(1)

 

Resources are reported exclusive of reserves.

(2)

 

Resources are estimated at a gold price of $1,400 per ounce for 2020 and 2019. Tonnage amounts have been rounded to the nearest 100,000. Ounces may not recalculate as they have been rounded to the nearest 10,000.

(3)

 

Measured and Indicated Resources (combined) are equivalent to Mineralized Material disclosed in Newmont’s 10-K filing.

(4)

 

Project is currently undeveloped. Resource estimates provided by Teck Resources.

(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)

 

Project is currently undeveloped. Resource estimates provided by Yamana, the operator of the Aqua Rica joint venture.

(9)

 

Resource estimates provided by Barrick, the operator of the NGM joint venture.

     

Attributable Copper Reserves (1) Metric Units

 

 

December 31, 2020

 

December 31, 2019

 

 

 

 

Proven Reserves

 

Probable Reserves

 

Proven and Probable Reserves

 

 

 

Proven and Probable Reserves

 

 

Newmont

 

Tonnage (2)

 

Grade

 

Copper (3)

 

Tonnage (2)

 

Grade

 

Copper (3)

 

Tonnage (2)

 

Grade

 

Copper (3)

 

Metallurgical

 

Tonnage (2)

 

Grade

 

Copper (3)

Deposits/Districts

 

Share

 

(x1000 tonnes)

 

(Cu %)

 

(Tonnes)

 

(x1000 tonnes)

 

(Cu %)

 

(Tonnes)

 

(x1000 tonnes)

 

(Cu %)

 

(Tonnes)

 

Recovery

 

(x1000 tonnes)

 

(Cu %)

 

(Tonnes)

South America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Yanacocha Open Pits and Underground, Peru (4)

 

51.35

%

 

 

 

 

 

57,700

 

0.62

%

 

360,000

 

57,700

 

0.62

%

 

360,000

 

83

%

 

53,600

 

0.63

%

 

340,000

NuevaUnión, Chile (5)

 

50

%

 

 

 

 

 

1,118,000

 

0.40

%

 

4,440,000

 

1,118,000

 

0.40

%

 

4,440,000

 

88

%

 

1,118,000

 

0.40

%

 

4,420,000

Norte Abierto, Chile (6)

 

50

%

 

 

 

 

 

598,800

 

0.22

%

 

1,310,000

 

598,800

 

0.22

%

 

1,310,000

 

87

%

 

598,800

 

0.22

%

 

1,310,000

TOTAL SOUTH AMERICA

 

 

 

 

 

 

 

1,774,500

 

0.34

%

 

6,110,000

 

1,774,500

 

0.34

%

 

6,110,000

 

87

%

 

1,770,400

 

0.34

%

 

6,070,000

Australia

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Boddington Open Pit, Western Australia (7)

 

100

%

 

247,100

 

0.10

%

 

240,000

 

287,600

 

0.11

%

 

330,000

 

534,700

 

0.11

%

 

570,000

 

82

%

 

481,000

 

0.10

%

 

490,000

Boddington Stockpiles, Western Australia (8)

 

100

%

 

1,600

 

0.10

%

 

 

84,800

 

0.09

%

 

70,000

 

86,400

 

0.09

%

 

70,000

 

75

%

 

85,300

 

0.09

%

 

70,000

TOTAL AUSTRALIA

 

 

 

248,700

 

0.10

%

 

240,000

 

372,400

 

0.11

%

 

400,000

 

621,100

 

0.10

%

 

640,000

 

81

%

 

566,300

 

0.10

%

 

560,000

Nevada

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NGM, Nevada (9)

 

38.5

%

 

14,100

 

0.20

%

 

30,000

 

68,500

 

0.17

%

 

120,000

 

82,600

 

0.18

%

 

150,000

 

64

%

 

97,100

 

0.18

%

 

170,000

TOTAL NEVADA

 

 

 

14,100

 

0.20

%

 

30,000

 

68,500

 

0.17

%

 

120,000

 

82,600

 

0.18

%

 

150,000

 

64

%

 

97,100

 

0.18

%

 

170,000

TOTAL NEWMONT

 

 

 

262,800

 

0.10

%

 

270,000

 

2,215,400

 

0.30

%

 

6,630,000

 

2,478,200

 

0.28

%

 

6,900,000

 

86

%

 

2,433,800

 

0.28

%

 

6,800,000

(1)

 

See footnote (1) to the Gold Reserves table above. Copper reserves for 2020 and 2019 were estimated at a copper price of $2.75 per pound.

(2)

 

See footnote (2) to the Gold Reserves table above. Tonnages are rounded to nearest 10,000.

(3)

 

See footnote (3) to the Gold Reserves table above. Tonnes may not recalculate as they are rounded to the nearest 10,000.

(4)

 

Reserve estimates relate to the undeveloped Yanacocha Sulfide project. Copper cut-off grade varies with level of gold and silver credits.

(5)

 

Project is currently undeveloped. Reserve estimates provided by the NuevaUnión joint venture.

(6)

 

Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture.

(7)

 

Copper cut-off grade varies with level of gold credits.

(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)

 

Reserve estimates provided by Barrick, the operator of the NGM joint venture.

     

Attributable Copper Mineral Resources (1)(2) - December 31, 2020, Metric Units

 

 

 

 

Measured Resource

 

Indicated Resource

 

Measured and Indicated
Resource (3)

 

Inferred Resource

 

 

Newmont

 

Tonnage

 

Grade

 

Copper

 

Tonnage

 

Grade

 

Copper

 

Tonnage

 

Grade

 

Copper

 

Tonnage

 

Grade

 

Copper

Deposits/Districts

 

Share

 

(x1000 tonnes)

 

(Cu%)

 

(tonnes)

 

(x1000 tonnes)

 

(Cu%)

 

(tonnes)

 

(x1000 tonnes)

 

(Cu%)

 

(tonnes)

 

(x1000 tonnes)

 

(Cu%)

 

(tonnes)

North America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Galore Creek, Canada (4)

 

50

%

 

128,400

 

0.72

%

 

920,000

 

423,400

 

0.39

%

 

1,640,000

 

551,800

 

0.47

%

 

2,560,000

 

99,100

 

0.27

%

 

260,000

TOTAL NORTH AMERICA

 

 

 

128,400

 

0.72

%

 

920,000

 

423,400

 

0.39

%

 

1,640,000

 

551,800

 

0.47

%

 

2,560,000

 

99,100

 

0.27

%

 

260,000

South America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Conga, Peru

 

51.35

%

 

 

 

 

 

356,300

 

0.26

%

 

920,000

 

356,300

 

0.26

%

 

920,000

 

118,400

 

0.19

%

 

220,000

Yanacocha Open Pits and Stockpiles

 

51.35

%

 

 

 

 

 

48,600

 

0.39

%

 

190,000

 

48,600

 

0.39

%

 

190,000

 

18,700

 

0.39

%

 

70,000

Yanacocha Underground

 

51.35

%

 

 

 

 

 

1,800

 

0.09

%

 

 

1,800

 

0.09

%

 

 

1,900

 

0.13

%

 

Total Yanacocha, Peru

 

 

 

 

 

 

 

50,400

 

0.38

%

 

190,000

 

50,400

 

0.38

%

 

190,000

 

20,600

 

0.36

%

 

70,000

NuevaUnión, Chile (5)

 

50

%

 

164,300

 

0.19

%

 

320,000

 

349,900

 

0.34

%

 

1,200,000

 

514,200

 

0.30

%

 

1,520,000

 

602,200

 

0.39

%

 

2,340,000

Norte Abierto, Chile (6)

 

50

%

 

57,600

 

0.24

%

 

140,000

 

551,200

 

0.19

%

 

1,060,000

 

608,800

 

0.20

%

 

1,200,000

 

361,800

 

0.18

%

 

650,000

Aqua Rica, Argentina (7)

 

18.75

%

 

141,900

 

0.51

%

 

720,000

 

137,400

 

0.36

%

 

500,000

 

279,300

 

0.44

%

 

1,220,000

 

139,900

 

0.23

%

 

320,000

TOTAL SOUTH AMERICA

 

 

 

363,800

 

0.32

%

 

1,180,000

 

1,445,200

 

0.27

%

 

3,870,000

 

1,809,000

 

0.28

%

 

5,050,000

 

1,242,900

 

0.29

%

 

3,600,000

Australia

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Boddington, Western Australia

 

100

%

 

62,500

 

0.11

%

 

70,000

 

149,300

 

0.12

%

 

170,000

 

211,800

 

0.11

%

 

240,000

 

3,900

 

0.09

%

 

TOTAL AUSTRALIA

 

 

 

62,500

 

0.11

%

 

70,000

 

149,300

 

0.12

%

 

170,000

 

211,800

 

0.11

%

 

240,000

 

3,900

 

0.09

%

 

Nevada

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NGM, Nevada (8)

 

38.5

%

 

11,200

 

0.16

%

 

20,000

 

83,200

 

0.14

%

 

110,000

 

94,400

 

0.14

%

 

130,000

 

13,000

 

0.15

%

 

20,000

TOTAL NEVADA

 

 

 

11,200

 

0.16

%

 

20,000

 

83,200

 

0.14

%

 

110,000

 

94,400

 

0.14

%

 

130,000

 

13,000

 

0.15

%

 

20,000

TOTAL NEWMONT

 

 

 

565,900

 

0.39

%

 

2,190,000

 

2,101,100

 

0.28

%

 

5,790,000

 

2,667,000

 

0.30

%

 

7,980,000

 

1,358,900

 

0.29

%

 

3,880,000

(1)

 

Resources are reported exclusive of reserves.

(2)

 

Resources for 2020 and 2019 were estimated at a copper price of $3.25 per pound. Tonnage amounts have been rounded to the nearest 100,000.

(3)

 

Measured and Indicated Resources (combined) are equivalent to Mineralized Material disclosed in Newmont’s Form 10-K filing.

(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)

 

Project is currently undeveloped. Resource estimates provided by Yamana, the operator of the Aqua Rica joint venture.

(8)

 

Resource estimates provided by Barrick, the operator of the NGM joint venture.

     

Attributable Proven, Probable and Combined Silver Reserves (1) Metric Units

 

December 31, 2020

 

December 31, 2019

 

 

 

 

Proven Reserves

 

Probable Reserves

 

Proven and Probable Reserves

 

 

 

Proven and Probable Reserves

 

 

Newmont

 

Tonnage (2)

 

Grade

 

Silver (3)

 

Tonnage (2)

 

Grade

 

Silver (3)

 

Tonnage (2)

 

Grade

 

Silver (3)

 

Metallurgical

 

Tonnage (2)

 

Grade

 

Silver (3)

Deposits/Districts

 

Share

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

Recovery (3)

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

North America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Peñasquito Open Pits, Mexico (4)

 

100

%

 

100,100

 

38.74

 

124,690

 

248,100

 

33.63

 

268,200

 

348,200

 

35.10

 

392,890

 

88

%

 

409,700

 

33.58

 

442,460

Peñasquito Stockpiles, Mexico (5)

 

100

%

 

11,800

 

30.03

 

11,400

 

27,800

 

24.01

 

21,460

 

39,600

 

25.81

 

32,860

 

82

%

 

31,800

 

28.24

 

28,900

TOTAL NORTH AMERICA

 

 

 

111,900

 

37.82

 

136,090

 

275,900

 

32.66

 

289,660

 

387,800

 

34.15

 

425,750

 

88

%

 

441,500

 

33.20

 

471,360

South America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Yanacocha Open Pits and Underground (6)

 

51.35

%

 

2,800

 

8.89

 

810

 

52,900

 

18.29

 

31,100

 

55,700

 

17.82

 

31,910

 

53

%

 

61,200

 

17.84

 

35,100

Yanacocha Stockpiles (5)

 

51.35

%

 

1,400

 

36.81

 

1,670

 

1,300

 

35.14

 

1,450

 

2,700

 

36.02

 

3,120

 

73

%

 

2,600

 

40.85

 

3,560

Yanacocha Leach Pads (7)

 

51.35

%

 

 

 

 

 

55,400

 

8.18

 

14,560

 

55,400

 

8.18

 

14,560

 

5

%

 

53,000

 

8.19

 

13,950

Total Yanacocha, Peru

 

 

 

4,200

 

18.19

 

2,480

 

109,600

 

13.85

 

47,110

 

113,800

 

13.85

 

49,590

 

40

%

 

116,800

 

14.01

 

52,610

Cerro Negro, Argentina (8)

 

100

%

 

2,400

 

66.89

 

5,060

 

6,600

 

72.12

 

15,360

 

9,000

 

70.75

 

20,420

 

75

%

 

8,400

 

79.51

 

21,340

Pueblo Viejo, Dominican Republic (9)

 

40

%

 

9,500

 

12.01

 

3,660

 

45,900

 

15.81

 

23,330

 

55,400

 

15.16

 

26,990

 

77

%

 

47,600

 

16.04

 

24,570

NuevaUnión, Chile (10)

 

50

%

 

 

 

 

 

1,118,000

 

1.31

 

47,170

 

1,118,000

 

1.31

 

47,170

 

66

%

 

776,900

 

1.54

 

38,440

Norte Abierto, Chile (11)

 

50

%

 

 

 

 

 

598,800

 

1.52

 

29,340

 

598,800

 

1.52

 

29,340

 

74

%

 

598,800

 

1.52

 

29,340

TOTAL SOUTH AMERICA

 

 

 

16,100

 

21.67

 

11,200

 

1,878,900

 

2.69

 

162,310

 

1,895,000

 

2.85

 

173,510

 

63

%

 

1,548,500

 

3.34

 

166,300

Nevada

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NGM, Nevada (12)

 

38.5

%

 

6,000

 

7.83

 

1,500

 

53,800

 

6.90

 

11,930

 

59,800

 

6.99

 

13,430

 

38

%

 

64,600

 

7.10

 

14,760

TOTAL NEVADA

 

 

 

6,000

 

7.83

 

1,500

 

53,800

 

6.90

 

11,930

 

59,800

 

6.99

 

13,430

 

38

%

 

64,600

 

7.10

 

14,760

TOTAL NEWMONT

 

 

 

134,000

 

34.55

 

148,790

 

2,208,600

 

6.53

 

463,900

 

2,342,600

 

8.14

 

612,690

 

79

%

 

2,054,600

 

9.88

 

652,420

(1)

 

See footnote (1) to the Gold Reserves table above. Silver reserves for 2020 and 2019 were estimated at a silver price of $17 and $16 per ounce, respectively.

(2)

 

See footnote (2) to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.

(3)

 

See footnote (3) to the Gold Reserves table above. Ounces may not recalculate as they are rounded to the nearest 10,000.

(4)

 

Silver cut-off grade varies with gold, lead 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 ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.

(6)

 

Silver cut-off grade varies with gold and copper credits.

(7)

 

Leach Pad material is the material on leach pads at the end of the year from which silver remains to be recovered. In-process material reserves are reported separately where tonnage or ounces are greater than 5% of the total site-reported reserves and ounces are greater than 100,000.

(8)

 

Silver cut-off grade varies with gold credits.

(9)

 

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)

 

Reserve estimates provided by Barrick, the operator of the NGM joint venture.

     

Attributable Silver Mineral Resources (1)(2) - December 31, 2020, Metric Units

 

 

 

 

Measured Resource

 

Indicated Resource

 

Measured and Indicated
Resource (3)

 

Inferred Resource

 

 

Newmont

 

Tonnage

 

Grade

 

Silver

 

Tonnage

 

Grade

 

Silver

 

Tonnage

 

Grade

 

Silver

 

Tonnage

 

Grade

 

Silver

Deposits/Districts

 

Share

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

North America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Peñasquito, Mexico

 

100

%

 

34,900

 

26.81

 

30,080

 

241,900

 

26.74

 

207,990

 

276,800

 

26.75

 

238,070

 

150,900

 

26.36

 

127,920

Noche Buena, Mexico

 

50

%

 

 

 

 

 

27,500

 

12.35

 

10,920

 

27,500

 

12.35

 

10,920

 

2,500

 

8.08

 

640

Galore Creek, Canada (4)

 

50

%

 

128,400

 

5.79

 

23,900

 

423,400

 

3.75

 

51,020

 

551,800

 

4.22

 

74,920

 

99,100

 

2.65

 

8,440

TOTAL NORTH AMERICA

 

 

 

163,300

 

10.28

 

53,980

 

692,800

 

12.12

 

269,930

 

856,100

 

11.77

 

323,910

 

252,500

 

16.88

 

137,000

South America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Conga, Peru

 

51.35

%

 

 

 

 

 

356,300

 

2.06

 

23,580

 

356,300

 

2.06

 

23,580

 

89,900

 

1.13

 

3,250

Yanacocha Open Pits and Stockpiles

 

51.35

%

 

4,200

 

2.71

 

370

 

40,900

 

14.13

 

18,590

 

45,100

 

13.07

 

18,960

 

14,100

 

13.86

 

6,280

Yanacocha Underground

 

51.35

%

 

 

 

 

 

1,800

 

64.29

 

3,760

 

1,800

 

62.68

 

3,760

 

1,900

 

37.56

 

2,260

Total Yanacocha, Peru

 

 

 

4,200

 

2.71

 

370

 

42,700

 

16.28

 

22,350

 

46,900

 

15.07

 

22,720

 

16,000

 

16.60

 

8,540

Cerro Negro Underground

 

100

%

 

100

 

52.14

 

150

 

7,000

 

35.15

 

7,870

 

7,100

 

35.37

 

8,020

 

2,600

 

65.53

 

5,440

Cerro Negro Open Pit

 

100

%

 

900

 

8.53

 

240

 

1,000

 

7.87

 

250

 

1,900

 

8.18

 

490

 

100

 

11.07

 

20

Total Cerro Negro, Argentina

 

 

 

1,000

 

12.56

 

390

 

8,000

 

31.80

 

8,120

 

9,000

 

29.70

 

8,510

 

2,700

 

64.21

 

5,460

Pueblo Viejo, Dominican Republic (5)

 

40

%

 

34,800

 

10.24

 

11,480

 

56,700

 

8.84

 

16,120

 

91,500

 

9.38

 

27,600

 

27,500

 

7.77

 

6,870

NuevaUnión, Chile (6)

 

50

%

 

164,300

 

0.96

 

5,080

 

349,900

 

1.19

 

13,370

 

514,200

 

1.12

 

18,450

 

602,200

 

1.16

 

22,530

Norte Abierto, Chile (7)

 

50

%

 

77,300

 

1.20

 

2,990

 

596,900

 

1.07

 

20,560

 

674,200

 

1.09

 

23,550

 

369,600

 

0.95

 

11,330

Aqua Rica, Argentina (8)

 

18.75

%

 

120,200

 

2.90

 

11,190

 

135,700

 

2.41

 

10,520

 

255,900

 

2.64

 

21,710

 

139,300

 

1.62

 

7,260

TOTAL SOUTH AMERICA

 

 

 

401,800

 

2.44

 

31,500

 

1,546,200

 

2.31

 

114,620

 

1,948,000

 

2.33

 

146,120

 

1,247,200

 

1.63

 

65,240

Nevada

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NGM, Nevada (9)

 

38.5

%

 

4,300

 

5.88

 

810

 

60,500

 

5.73

 

11,130

 

64,800

 

5.74

 

11,940

 

8,700

 

5.91

 

1,650

TOTAL NEVADA

 

 

 

4,300

 

5.88

 

810

 

60,500

 

5.73

 

11,130

 

64,800

 

5.74

 

11,940

 

8,700

 

5.91

 

1,650

TOTAL NEWMONT

 

 

 

569,400

 

4.71

 

86,290

 

2,299,500

 

5.35

 

395,680

 

2,868,900

 

5.23

 

481,970

 

1,508,400

 

4.21

 

203,890

(1)

 

Resources are reported exclusive of reserves.

(2)

 

Resource for 2020 and 2019 were estimated at a silver price of $20 per ounce. Tonnage amounts have been rounded to the nearest 100,000.

(3)

 

Measured and Indicated Resources (combined) are equivalent to Mineralized Material disclosed in Newmont’s Form 10-K filing.

(4)

 

Project is currently undeveloped. Resource estimates provided by Teck Resources.

(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)

 

Project is currently undeveloped. Resource estimates provided by Yamana, the operator of the Aqua Rica joint venture.

(9)

 

Resource estimates provided by Barrick, the operator of the NGM joint venture.

     

Attributable Zinc Reserves (1) Metric Units

 

 

December 31, 2020

 

December 31, 2019

 

 

 

 

Proven Reserves

 

Probable Reserves

 

Proven and Probable Reserves

 

 

 

Proven and Probable Reserves

 

 

Newmont

 

Tonnage (2)

 

Grade

 

Zinc (3)

 

Tonnage (2)

 

Grade

 

Zinc (3)

 

Tonnage (2)

 

Grade

 

Zinc (3)

 

Metallurgical

 

Tonnage (2)

 

Grade

 

Zinc (3)

Deposits/Districts

 

Share

 

(x1000 tonnes)

 

(Zn %)

 

(Tonnes)

 

(x1000 tonnes)

 

(Zn %)

 

(Tonnes)

 

(x1000 tonnes)

 

(Zn %)

 

(Tonnes)

 

Recovery

 

(x1000 tonnes)

 

(Zn %)

 

(Tonnes)

North America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Peñasquito Open Pits, Mexico (4)

 

100

%

 

100,100

 

0.98

%

 

980,000

 

248,100

 

0.77

%

 

1,910,000

 

348,200

 

0.83

%

 

2,890,000

 

82

%

 

406,800

 

0.79

%

 

3,210,000

Peñasquito Stockpiles, Mexico (5)

 

100

%

 

11,800

 

0.62

%

 

70,000

 

27,800

 

0.44

%

 

120,000

 

39,600

 

0.49

%

 

190,000

 

72

%

 

31,800

 

0.49

%

 

150,000

TOTAL NEWMONT

 

 

 

111,900

 

0.94

%

 

1,050,000

 

275,900

 

0.74

%

 

2,030,000

 

387,800

 

0.80

%

 

3,080,000

 

82

%

 

438,600

 

0.77

%

 

3,360,000

(1)

 

See footnote (1) to the Gold Reserves table above. Zinc reserves for 2020 and 2019 were estimated at a zinc price of $1.15 and $1.20 per pound, respectively.

(2)

 

See footnote (2) to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.

(3)

 

See footnote (3) to the Gold Reserves table above. Tonnes may not recalculate as they are rounded to the nearest 10,000.

(4)

 

Zinc 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 tonnes exceed 10,000 and are greater than 5% of the total site-reported reserves.

     

Attributable Zinc Resources (1)(2) - December 31, 2020, Metric Units

 

 

 

 

Measured Resource

 

Indicated Resource

 

Measured and Indicated
Resource (3)

 

Inferred Resource

 

 

Newmont

 

Tonnage

 

Grade

 

Zinc

 

Tonnage

 

Grade

 

Zinc

 

Tonnage

 

Grade

 

Zinc

 

Tonnage

 

Grade

 

Zinc

Deposits/Districts

 

Share

 

(x1000 tonnes)

 

(Zn%)

 

(tonnes)

 

(x1000 tonnes)

 

(Zn%)

 

(tonnes)

 

(x1000 tonnes)

 

(Zn%)

 

(tonnes)

 

(x1000 tonnes)

 

(Zn%)

 

(tonnes)

North America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Peñasquito, Mexico

 

100

%

 

34,900

 

0.69

%

 

240,000

 

241,900

 

0.59

%

 

1,430,000

 

276,800

 

0.60

%

 

1,670,000

 

150,900

 

0.53

%

 

790,000

TOTAL NEWMONT

 

 

 

34,900

 

0.69

%

 

240,000

 

241,900

 

0.59

%

 

1,430,000

 

276,800

 

0.60

%

 

1,670,000

 

150,900

 

0.53

%

 

790,000

(1)

 

Resources are reported exclusive of reserves.

(2)

 

Resources for 2020 and 2019 were estimated at a zinc price of $1.40 and $1.45 per pound, respectively. Tonnage amounts have been rounded to the nearest 100,000.

(3)

 

Measured and Indicated Resources (combined) are equivalent to Mineralized Material disclosed in Newmont’s Form 10-K filing.

     

Attributable Lead Reserves (1) Metric Units

 

 

December 31, 2020

 

December 31, 2019

 

 

 

 

Proven Reserves

 

Probable Reserves

 

Proven and Probable Reserves

 

 

 

Proven and Probable Reserves

 

 

Newmont

 

Tonnage (2)

 

Grade

 

Lead (3)

 

Tonnage (2)

 

Grade

 

Lead (3)

 

Tonnage (2)

 

Grade

 

Lead (3)

 

Metallurgical

 

Tonnage (2)

 

Grade

 

Lead (3)

Deposits/Districts

 

Share

 

(x1000 tonnes)

 

(Pb %)

 

(Tonnes)

 

(x1000 tonnes)

 

(Pb %)

 

(Tonnes)

 

(x1000 tonnes)

 

(Pb %)

 

(Tonnes)

 

Recovery

 

(x1000 tonnes)

 

(Pb %)

 

(Tonnes)

North America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Peñasquito Open Pits, Mexico (4)

 

100

%

 

100,100

 

0.39

%

 

390,000

 

248,100

 

0.33

%

 

810,000

 

348,200

 

0.34

%

 

1,200,000

 

78

%

 

406,800

 

0.34

%

 

1,370,000

Peñasquito Stockpiles, Mexico (5)

 

100

%

 

11,800

 

0.36

%

 

40,000

 

27,800

 

0.32

%

 

90,000

 

39,600

 

0.33

%

 

130,000

 

64

%

 

31,800

 

0.35

%

 

110,000

TOTAL NEWMONT

 

 

 

111,900

 

0.39

%

 

430,000

 

275,900

 

0.32

%

 

900,000

 

387,800

 

0.34

%

 

1,330,000

 

76

%

 

438,600

 

0.34

%

 

1,480,000

(1)

 

See footnote (1) to the Gold Reserves table above. Lead reserves for 2020 and 2019 were estimated at a lead price of $0.90 and $0.95 per pound, respectively.

(2)

 

See footnote (2) to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.

(3)

 

See footnote (3) to the Gold Reserves table above. Tonnes may not recalculate as they are rounded to the nearest 10,000.

(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 tonnes exceed 10,000 and are greater than 5% of the total site-reported reserves.

     

Attributable Lead Resources (1)(2) - December 31, 2020, Metric Units

 

 

 

 

Measured Resource

 

Indicated Resource

 

Measured and Indicated
Resource (3)

 

Inferred Resource

 

 

Newmont

 

Tonnage

 

Grade

 

Lead

 

Tonnage

 

Grade

 

Lead

 

Tonnage

 

Grade

 

Lead

 

Tonnage

 

Grade

 

Lead

Deposits/Districts

 

Share

 

(x1000 tonnes)

 

(Pb%)

 

(tonnes)

 

(x1000 tonnes)

 

(Pb%)

 

(tonnes)

 

(x1000 tonnes)

 

(Pb%)

 

(tonnes)

 

(x1000 tonnes)

 

(Pb%)

 

(tonnes)

North America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Peñasquito, Mexico

 

100

%

 

34,900

 

0.30

%

 

100,000

 

241,900

 

0.27

%

 

660,000

 

276,800

 

0.28

%

 

760,000

 

150,900

 

0.27

%

 

400,000

TOTAL NEWMONT

 

 

 

34,900

 

0.30

%

 

100,000

 

241,900

 

0.27

%

 

660,000

 

276,800

 

0.28

%

 

760,000

 

150,900

 

0.27

%

 

400,000

(1)

 

Resources are reported exclusive of reserves.

(2)

 

Resources for 2020 and 2019 were estimated at a lead price of $1.10 and $1.15 per pound, respectively. Tonnage amounts have been rounded to the nearest 100,000.

(3)

 

Measured and Indicated Resources (combined) are equivalent to Mineralized Material disclosed in Newmont’s Form 10-K filing.

     

Attributable Molybdenum Reserves (1) Metric Units

 

December 31, 2020

 

December 31, 2019

 

 

 

 

Proven Reserves

 

Probable Reserves

 

Proven and Probable Reserves

 

 

 

Proven and Probable Reserves

 

 

Newmont

 

Tonnage (2)

 

Grade

 

Molybdenum (3)

 

Tonnage (2)

 

Grade

 

Molybdenum (3)

 

Tonnage (2)

 

Grade

 

Molybdenum (3)

 

Metallurgical

 

Tonnage (2)

 

Grade

 

Molybdenum (3)

Deposits/Districts

 

Share

 

(x1000 tonnes)

 

(Mo %)

 

(Tonnes)

 

(x1000 tonnes)

 

(Mo %)

 

(Tonnes)

 

(x1000 tonnes)

 

(Mo %)

 

(Tonnes)

 

Recovery

 

(x1000 tonnes)

 

(Mo %)

 

(Tonnes)

South America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NuevaUnión, Chile (4)

 

50.00

%

 

 

 

 

 

776,900

 

0.02

%

 

120,000

 

776,900

 

0.02

%

 

120,000

 

48

%

 

776,900

 

0.02

%

 

120,000

TOTAL NEWMONT

 

 

 

 

 

 

 

776,900

 

0.02

%

 

120,000

 

776,900

 

0.02

%

 

120,000

 

48

%

 

776,900

 

0.02

%

 

120,000

(1)

 

See footnote (1) to the Gold Reserves table above. Molybdenum reserves were estimated based on a molybdenum price set by NuevaUnión joint venture.

(2)

 

See footnote (2) to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.

(3)

 

See footnote (3) to the Gold Reserves table above. Tonnes may not recalculate as they are rounded to the nearest 10,000.

(4)

 

Project is currently undeveloped. Resource estimates provided by NuevaUnión joint venture.

     

Attributable Molybdenum Resources (1)(2) - December 31, 2020, Metric Units

 

 

 

 

Measured Resource

 

Indicated Resource

 

Measured and Indicated
Resource (3)

 

Inferred Resource

 

 

Newmont

 

Tonnage

 

Grade

 

Molybdenum

 

Tonnage

 

Grade

 

Molybdenum

 

Tonnage

 

Grade

 

Molybdenum

 

Tonnage

 

Grade

 

Molybdenum

Deposits/Districts

 

Share

 

(x1000 tonnes)

 

(Mo%)

 

(tonnes)

 

(x1000 tonnes)

 

(Mo%)

 

(tonnes)

 

(x1000 tonnes)

 

(Mo%)

 

(tonnes)

 

(x1000 tonnes)

 

(Mo%)

 

(tonnes)

South America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NuevaUnión, Chile (4)

 

50

%

 

159,500

 

0.01

%

 

10,000

 

231,500

 

0.01

%

 

20,000

 

391,000

 

0.01

%

 

30,000

 

362,300

 

0.01

%

 

40,000

Aqua Rica, Argentina (5)

 

18.75

%

 

141,900

 

0.03

%

 

40,000

 

137,400

 

0.03

%

 

40,000

 

279,300

 

0.03

%

 

80,000

 

139,900

 

0.03

%

 

40,000

TOTAL NEWMONT

 

 

 

301,400

 

0.02

%

 

50,000

 

368,900

 

0.02

%

 

60,000

 

670,300

 

0.02

%

 

110,000

 

502,200

 

0.02

%

 

80,000

(1)

 

Resources are reported exclusive of reserves.

(2)

 

Resources for NuevaUnión and Aqua Rica are estimated based on a molybdenum price set by NuevaUnión joint venture and Yamana, respectively. Tonnage amounts have been rounded to the nearest 100,000.

(3)

 

Measured and Indicated Resources (combined) are equivalent to Mineralized Material disclosed in Newmont’s Form 10-K filing.

(4)

 

Project is currently undeveloped. Resource estimates provided by NuevaUnión joint venture.

(5)

 

Resource estimates provided by Yamana, the operator of the Aqua Rica joint venture.

     

Cautionary Statement:

The “Mineral Reserves” or “reserves” disclosed in this release have been prepared in compliance with Industry Guide 7 published by the SEC. As used in this news release, the term “reserve” means that part of a mineral deposit that can 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 a 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 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 current mine plans. Reserves in this news release are aggregated from the proven and probable classes. The term “Proven Reserves” used in the tables of this news release 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 or molybdenum 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 extraction and type of milling or leaching facilities available.

Notice for U.S. Investors:

The terms “resources” and “Measured, Indicated and Inferred resources” are used in this news release. Investors are advised that the SEC does not recognize these terms and “resources” have not been prepared in accordance with Industry Guide 7. Newmont has determined that such “resources” would be substantively the same as those prepared using the Guidelines established by the Society of Mining, Metallurgy and Exploration (SME) and defined as “Mineral Resource”. 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 or all of the Inferred Resource exists, or is economically or legally mineable. Also, disclosure of contained ounces is permitted under the SME Guideline and other regulatory guidelines, such as Canada’s NI 43-101 and Australia’s JORC. However, the SEC generally requires mineral resource information in SEC-filed documents to be reported only as in-place tonnage and grade. Investors are reminded that even if significant mineralization is discovered and converted to reserves, during the time necessary to ultimately move such mineralization to production the economic feasibility of production may change. US investors are encouraged to refer to the “Proven and Probable Reserve” tables contained herein for reserves prepared in compliance with the SEC’s Industry Guide 7, and to the Company’s website for the “Proven and Probable Reserve” and “Mineralized Material tables, available at www.newmont.com and included in the Company’s Form 10-K, expected to be filed on or about February 18, 2021, on www.sec.gov. Investors are reminded that the tables presented in the Annual Report are estimates as of December 31, 2020 and were presented on an attributable basis reflecting the Company’s ownership interest at such time.

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, 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 5 hereof. For a more detailed discussion of risks and other factors that might impact future looking statements, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 filed with the U.S. Securities and Exchange Commission (the “SEC”), under the heading “Risk Factors”, as well as the COVID-19 related “Risk Factor” in the Quarterly Report on Form 10-Q for the quarter ended March 31, 2020, filed with the SEC, available on the SEC website or www.newmont.com. Investors are also encouraged to refer to the Company’s 2020 Form 10-K, which is expected to be filed on or about February 18, 2021, with the SEC 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.

About Newmont

Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. 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. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.

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