Newmont Corporation
NYSE:NEM
Newmont Corporation
In the annals of the global mining industry, Newmont Corporation stands out as a formidable titan with deep roots tracing back to 1921. Headquartered in Denver, Colorado, Newmont has evolved through a century marked by strategic expansions and acquisitions, growing into the world's largest gold mining company. Its operations span across numerous continents, strategically situated in politically stable regions such as North America, South America, Australia, and Africa. The company’s intricate dance of extraction begins with its highly-skilled geologists scouring unexplored terrains to locate and evaluate potential resource-rich areas. Post discovery, the company engages in detailed planning, complying with stringent environmental regulations and community agreements, to streamline its mining operations from exploration to development.
Newmont’s business model pivots around the life cycle of gold, orchestrating its journey from the mine to the marketplace. The company earns its revenue primarily from the sale of gold, copper, silver, lead, and zinc. Newmont meticulously manages its portfolio of long-life, high-quality assets by employing cutting-edge technologies and advanced mining processes, reducing operational costs while optimizing output. Besides, the corporation engages in hedging activities to mitigate commodity price volatility and secure favorable pricing terms. Through these endeavors, Newmont not only solidifies its leadership in gold mining but also embarks on sustainable practices aimed at minimizing its environmental footprint and fostering community development, thereby harmonizing profitability with social responsibility.
In the annals of the global mining industry, Newmont Corporation stands out as a formidable titan with deep roots tracing back to 1921. Headquartered in Denver, Colorado, Newmont has evolved through a century marked by strategic expansions and acquisitions, growing into the world's largest gold mining company. Its operations span across numerous continents, strategically situated in politically stable regions such as North America, South America, Australia, and Africa. The company’s intricate dance of extraction begins with its highly-skilled geologists scouring unexplored terrains to locate and evaluate potential resource-rich areas. Post discovery, the company engages in detailed planning, complying with stringent environmental regulations and community agreements, to streamline its mining operations from exploration to development.
Newmont’s business model pivots around the life cycle of gold, orchestrating its journey from the mine to the marketplace. The company earns its revenue primarily from the sale of gold, copper, silver, lead, and zinc. Newmont meticulously manages its portfolio of long-life, high-quality assets by employing cutting-edge technologies and advanced mining processes, reducing operational costs while optimizing output. Besides, the corporation engages in hedging activities to mitigate commodity price volatility and secure favorable pricing terms. Through these endeavors, Newmont not only solidifies its leadership in gold mining but also embarks on sustainable practices aimed at minimizing its environmental footprint and fostering community development, thereby harmonizing profitability with social responsibility.
Strong Finish: Newmont closed 2025 with record earnings, achieving full-year production and cost guidance, and a strong financial position.
Capital Returns: Returned $3.4 billion to shareholders via dividends and buybacks, and increased the quarterly dividend by 4%.
Guidance Met: Produced 5.7M ounces of gold, 28M ounces of silver, and 135,000 tonnes of copper, in line with guidance.
2026 Outlook: 2026 gold production guided at 5.3M ounces, with all-in sustaining costs expected at $1,680/oz.
Cost Discipline: Achieved structural cost savings, with all-in sustaining costs $100/oz lower than without initiatives, and a 21% G&A reduction for 2026.
Project Progress: Ahafo North commissioned, Tanami Expansion and Cadia panel caves advancing, with further mine life extensions and feasibility studies in progress.
Largest Gold Reserves: Gold reserve base stands at 180M ounces, supporting roughly 40 years of production.
Enhanced Capital Framework: New framework prioritizes sustaining capital and dividends, with additional cash allocated to development, balance sheet strength, and then buybacks.
Management
Thomas Ronald Palmer is a prominent figure in the mining industry, currently serving as the President and Chief Executive Officer (CEO) of Newmont Corporation, one of the world's leading gold mining companies. He assumed this role in October 2019. Palmer has a robust background in mining engineering, bringing over two decades of experience in operational and leadership roles within the industry. Before becoming CEO, he held key senior positions at Newmont, including Chief Operating Officer, where he was instrumental in overseeing the company’s global operations, improving safety performance, and driving operational efficiency. Under his leadership, Newmont has focused on sustainable and responsible mining practices, aligning with global environmental and social standards. Palmer is known for his commitment to innovation and strategic growth, ensuring that Newmont remains at the forefront of the mining sector. Palmer holds a degree in mining engineering and an MBA, which have provided him with a strong foundation for leading diverse teams and managing complex projects. His tenure as CEO has been marked by significant achievements, including the successful completion of strategic mergers and acquisitions that have strengthened Newmont's position as a leader in the industry.
Palmer has a robust background in mining engineering, bringing over two decades of experience in operational and leadership roles within the industry. Before becoming CEO, he held key senior positions at Newmont, including Chief Operating Officer, where he was instrumental in overseeing the company’s global operations, improving safety performance, and driving operational efficiency.
Under his leadership, Newmont has focused on sustainable and responsible mining practices, aligning with global environmental and social standards. Palmer is known for his commitment to innovation and strategic growth, ensuring that Newmont remains at the forefront of the mining sector.
Palmer holds a degree in mining engineering and an MBA, which have provided him with a strong foundation for leading diverse teams and managing complex projects. His tenure as CEO has been marked by significant achievements, including the successful completion of strategic mergers and acquisitions that have strengthened Newmont's position as a leader in the industry.
Karyn F. Ovelmen, CPA, is a highly regarded financial executive known for her extensive experience in financial management, strategic planning, and corporate governance. She has held prominent leadership roles across various industries, including her position at Newmont Corporation, a leading gold mining company. Previously at Newmont, she served as the Executive Vice President and Chief Financial Officer, where she was responsible for overseeing the company’s financial operations, including accounting, treasury, tax, financial planning, and investor relations. Before joining Newmont, Karyn served as CFO at multiple major companies, enhancing their financial strategies and operational efficiencies. Her career includes roles at Flowserve Corporation, where she was instrumental in driving financial improvements; LyondellBasell, one of the world's largest plastics, chemicals, and refining companies; and Petroplus Holdings AG, a large independent oil refiner and wholesaler in Europe. Her leadership in these roles has been marked by significant achievements in managing complex financial landscapes, improving cost structures, and strategic financial planning. Karyn is a certified public accountant and began her career at the international professional services network, PricewaterhouseCoopers. Her solid background in auditing and financial advisory services laid the foundation for her successful transition into executive management roles. She is recognized for her analytical skills, strategic insight, and ability to drive financial growth and sustainability in the organizations she has been a part of. Her professional acumen and leadership have made her a respected voice in financial circles, and she continues to be an influential figure in shaping effective financial strategies in the corporate world.
Before joining Newmont, Karyn served as CFO at multiple major companies, enhancing their financial strategies and operational efficiencies. Her career includes roles at Flowserve Corporation, where she was instrumental in driving financial improvements; LyondellBasell, one of the world's largest plastics, chemicals, and refining companies; and Petroplus Holdings AG, a large independent oil refiner and wholesaler in Europe. Her leadership in these roles has been marked by significant achievements in managing complex financial landscapes, improving cost structures, and strategic financial planning.
Karyn is a certified public accountant and began her career at the international professional services network, PricewaterhouseCoopers. Her solid background in auditing and financial advisory services laid the foundation for her successful transition into executive management roles. She is recognized for her analytical skills, strategic insight, and ability to drive financial growth and sustainability in the organizations she has been a part of.
Her professional acumen and leadership have made her a respected voice in financial circles, and she continues to be an influential figure in shaping effective financial strategies in the corporate world.
Natascha Viljoen is a seasoned executive in the global mining industry, known for her leadership at Newmont Corporation, where she serves as Chief Operating Officer. With a Bachelor of Engineering (BEng) in metallurgy and an Executive Master of Business Administration (EMBA), Viljoen has a robust technical and managerial background. Before joining Newmont, she made significant contributions at Anglo American Platinum, where she held the position of CEO. Her tenure there was marked by a strong focus on safety, sustainability, and improving operational efficiency. Viljoen is recognized for her strategic leadership and ability to drive innovation and transformation within the mining sector. Her engineering experience and business acumen are complemented by her strong commitment to environmental, social, and governance (ESG) principles, making her a highly respected figure in the industry.
Before joining Newmont, she made significant contributions at Anglo American Platinum, where she held the position of CEO. Her tenure there was marked by a strong focus on safety, sustainability, and improving operational efficiency. Viljoen is recognized for her strategic leadership and ability to drive innovation and transformation within the mining sector.
Her engineering experience and business acumen are complemented by her strong commitment to environmental, social, and governance (ESG) principles, making her a highly respected figure in the industry.
Peter Ivan Toth is a prominent executive known for his influential role within Newmont Corporation, one of the world's leading gold mining companies. With a Bachelor of Business in International Business (BBus IB) and a Master of International Business (MIB), Toth has a robust educational background that has fueled his career in the mining industry. Toth brought to Newmont a wealth of experience in mining and natural resources, having previously worked in significant executive positions in various multinational corporations. His expertise in international business and strategic management has been a driving force in navigating the complexities of global mining operations at Newmont. He is known for implementing strategies that enhance operational efficiency and for his focus on sustainable and responsible mining practices, which align with Newmont's commitment to environmental stewardship, social responsibility, and value creation for its stakeholders. In his role at Newmont, Toth has been instrumental in fostering collaborations and partnerships that advance the company's interests across different regions. His international perspective and business acumen have been invaluable in positioning Newmont as a leader in the industry. His leadership style emphasizes innovation and adaptability, ensuring that Newmont can successfully tackle challenges in the dynamic global mining landscape.
Toth brought to Newmont a wealth of experience in mining and natural resources, having previously worked in significant executive positions in various multinational corporations. His expertise in international business and strategic management has been a driving force in navigating the complexities of global mining operations at Newmont. He is known for implementing strategies that enhance operational efficiency and for his focus on sustainable and responsible mining practices, which align with Newmont's commitment to environmental stewardship, social responsibility, and value creation for its stakeholders.
In his role at Newmont, Toth has been instrumental in fostering collaborations and partnerships that advance the company's interests across different regions. His international perspective and business acumen have been invaluable in positioning Newmont as a leader in the industry. His leadership style emphasizes innovation and adaptability, ensuring that Newmont can successfully tackle challenges in the dynamic global mining landscape.
François Hardy is an accomplished mining executive at Newmont Corporation, a leading gold mining company with operations around the globe. Hardy serves as the Regional Senior Vice President for Africa at Newmont and has played a strategic role in managing the company's operations across the continent. With extensive experience in the mining sector, he is known for implementing effective operational strategies and fostering sustainable development in mining communities. His leadership style emphasizes innovation, safety, and environmental responsibility, aligning with Newmont's commitment to responsible mining practices. Hardy's expertise and leadership have been integral to Newmont's continued growth and success in the Africa region.
Peter Wexler J.D. is a notable executive who served as the Senior Vice President, General Counsel, and Chief Compliance Officer at Newmont Corporation, one of the world’s leading gold mining companies. In this role, Wexler was responsible for overseeing the company's global legal affairs, including compliance, governance, and regulatory functions. He played a crucial role in strategic decision-making and ensuring that Newmont adhered to legal and ethical standards across its operations worldwide. With extensive experience in legal and compliance areas, Peter Wexler contributed significantly to Newmont's risk management and corporate governance frameworks. His work often involved collaborating with various departments to align Newmont’s business strategies with legal requirements, fostering a culture of transparency and integrity. Wexler's expertise in navigating complex legal landscapes proved invaluable as Newmont pursued its goals of sustainability and operational excellence in the mining industry.
With extensive experience in legal and compliance areas, Peter Wexler contributed significantly to Newmont's risk management and corporate governance frameworks. His work often involved collaborating with various departments to align Newmont’s business strategies with legal requirements, fostering a culture of transparency and integrity. Wexler's expertise in navigating complex legal landscapes proved invaluable as Newmont pursued its goals of sustainability and operational excellence in the mining industry.
Jennifer Cmil is a seasoned executive at Newmont Corporation, a leading gold mining company. She holds the position of Vice President, Operational Technology. In this role, she is responsible for leading the company's efforts in advancing its technological capabilities across its global operations. Jennifer has extensive experience in operational and information technologies, which she leverages to drive innovation and efficiency at Newmont Corporation. Her career at Newmont and in the broader mining sector has positioned her as a key figure in integrating technology with traditional mining practices to enhance productivity and sustainability. This involves overseeing initiatives that incorporate data analytics, automation, and digitalization to streamline Newmont's mining processes. Jennifer's leadership style is marked by her commitment to collaboration and continuous improvement, focusing on transforming Newmont's operational technology landscape to align with the company's strategic goals. Her contributions are vital in ensuring that Newmont remains competitive and sustainable in the dynamic and challenging mining industry.
Her career at Newmont and in the broader mining sector has positioned her as a key figure in integrating technology with traditional mining practices to enhance productivity and sustainability. This involves overseeing initiatives that incorporate data analytics, automation, and digitalization to streamline Newmont's mining processes.
Jennifer's leadership style is marked by her commitment to collaboration and continuous improvement, focusing on transforming Newmont's operational technology landscape to align with the company's strategic goals. Her contributions are vital in ensuring that Newmont remains competitive and sustainable in the dynamic and challenging mining industry.
