Newmont
Sector unknown·NEM · USA (SEC 10-K)·Fiscal year to 31/12/2025
Segment Information The Company's 13 reportable segments consist of each of its 12 mining operations that it manages and its 38.5% proportionate interest in Nevada Gold Mines ("NGM"), which it does not directly manage.
Exposure profile
Derived from what the company itself writes. Empty directions mean the report doesn't mention themes of that type.
In their own words
Grouped by theme, from the management review in the annual report. A · The company itself is a verbatim quote, B · From the report is without a verified quote.
Mining
End markets
DriverNegative impact: weakens
“A substantial or extended decline in commodity prices could have a material adverse effect on the Company’s financial position, results of operations, cash flows, access to capital, and on the quantities of reserves that the Company can economically produce.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“In addition, sustained lower gold, silver, copper, zinc or lead prices can: Table of Contents •Reduce revenues further through production declines due to cessation of the mining of deposits, or portions of deposits, that become uneconomic at sustained lower metal prices; •Reduce or eliminate the profit that we currently expect from ore stockpiles and ore on leach pads and increase the likelihood and amount that the Company might be required to record write downs related to the carrying value of its stockpiles and ore on leach pads; •Halt or delay the development of new projects; •Reduce funds available for exploration and advanced projects with the result that depleted reserves may not be replaced; and •Reduce existing reserves by removing ores from reserves that can no longer be economically processed at prevailing prices.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Illegal mining could also result in lost gold production and reserves, mine and development stoppages, and have a material adverse effect on financial condition or results of operations or project development.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Tailings Storage Facilities and Dust Emissions at Cadia Tailings deposition was suspended at Cadia Holdings Pty Ltd’s (“Cadia Holdings”) tailings storage facilities in March 2018 following an embankment slump of its NTSF. Use of the NTSF is subject to a prohibition notice issued by the NSW Resources Regulator and deposition is expected to remain suspended until repairs of the NTSF wall are completed.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Newmont and the mining industry are facing continued geotechnical, geothermal and hydrogeological challenges due to the older age of certain of our mines and a trend toward mining of more complex deposits, the use of deeper and larger pits and the use of deep, bulk or selective underground mining techniques.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“These risks include a cave not propagating as anticipated, excessive air gaps forming during the cave propagation, unplanned ground movement occurring due to changes in stresses released in the surrounding rock and larger or more frequent mining-induced seismicity than anticipated. Additionally, during cave establishment and propagation, higher levels of seismic activity, and higher likelihood of damage to excavations from seismic events, are expected.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“Specific examples where we face such risks include: Waste Rock and Tailings Management Our gold and copper mining and ore refining/metals extraction processes generate waste by-products such as waste rock (managed in waste rock dumps or, in the case of Lihir, harbor waste rock platforms and permitted barge dumping locations) and tailings (managed by the use of tailings storage facilities, lacustrine deposition in the case of Brucejack or deep sea tailings placement in the case of Lihir and as proposed at Wafi-Golpu).”
Annual report 2025A · The company itself
StrategyPositive impact: strengthens
“This project secures Tanami’s future as a long-life, low-cost producer by extending mine life beyond 2040 through the addition of a 1,460 meter hoisting shaft and supporting infrastructure to achieve higher production and provide a platform for future growth. The expansion is expected to increase average annual gold production and improve efficiency for the first five years (2028 - 2032).”
Annual report 2025A · The company itself
Market
“Segment Information The Company's 13 reportable segments consist of each of its 12 mining operations that it manages and its 38.5% proportionate interest in Nevada Gold Mines ("NGM"), which it does not directly manage.”
Annual report 2025A · The company itself
Market
“Completed the sale of the CC&V, Musselwhite, Éléonore, Akyem, and Porcupine reportable segments and the Coffee development project.”
Annual report 2025A · The company itself
Chains in: Copper strengthens
Copper
Raw materials and inputs
DriverPositive impact: strengthens
“Average gold prices for 2025 were $3,432 per ounce (2024: $2,386; 2023: $1,941), average copper prices for 2025 were $4.51 per pound (2024: $4.15; 2023: $3.85), average silver prices for 2025 were $40.03 per ounce (2024: $28.27; 2023: $23.35), average lead prices for 2025 were $0.89 per pound (2024: $0.94; 2023: $0.97), and average zinc prices for 2025 were $1.30 per pound (2024: $1.26; 2023: $1.20).”
Annual report 2025A · The company itself
Market
“This project includes two panel caves to recover approximately 5 million ounces of gold reserves and 1.1 million tonnes of copper reserves.”
Annual report 2025A · The company itself
Chains in: Electrification strengthens, Data centres strengthens
Chains out: this strengthens Mining
EU climate and energy policy
Regulation
DriverNegative impact: weakens
“Our operations and projects are subject to extensive environmental laws and regulations. Our exploration, development, mining and processing operations, and closed facilities are subject to extensive laws and regulations governing land use and the protection of the environment, which generally apply to air and water, protection of endangered, protected or other specified species, hazardous and non-hazardous waste management and reclamation.”
Annual report 2025A · The company itself
StrategyPositive impact: strengthens
“Newmont supports the UNFCC goal of limiting global warming to “well below 2oC” compared to pre-industrial levels and plans to transition its operations to meet this goal by 2030, with an aspiration of carbon neutrality by 2050.”
Annual report 2025A · The company itself
Chains out: this strengthens Circular economy and recycling, strengthens Energy efficiency
Electrification
Technology
StrategyPositive impact: strengthens
“Such transitions are likely to require capital expenditures and may result in additional costs.”
Annual report 2025A · The company itself
Chains out: this strengthens Electricity, strengthens Power grid expansion, strengthens Copper
Solar power
Technology
StrategyPositive impact: strengthens
“Such transitions are likely to require capital expenditures and may result in additional costs.”
Annual report 2025A · The company itself
Wind power
Technology
StrategyPositive impact: strengthens
“Such transitions are likely to require capital expenditures and may result in additional costs.”
Annual report 2025A · The company itself
Chains in: Interest rates weakens, Energy security strengthens
Chains out: this strengthens Steel, strengthens Rare earths and critical raw materials, strengthens Renewables auctions and subsidies, strengthens Power grid expansion
Tariffs and trade policy
Macro
DriverNegative impact: weakens
“•Newmont’s global operations create exposure to U.S. and international trade, sanctions, and export control risks. As a U.S.-headquartered company, Newmont must comply with U.S. trade laws worldwide, as well as applicable local regulations. These risks stem from cross-border movement of mineral, equipment, technology, services, capital, and data, often involving third 14 Table of Contents parties.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“For instance, a 12% export duty was imposed by the Argentina government in 2018, revised down to 8% thereafter, however, with the election of new government in 2023, the rate is now currently 0%.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Further, the Mexican government has increased the mining tax rate from 7.5% to 8.5%, and 0.5% to 1% for gold, silver, platinum sales, both effective on January 1, 2025, which remains in effect but subject to potential change in the future.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“For example, NGM could be impacted by the resolutions brought to the State of Nevada Legislature to amend the State Constitution to increase mining taxes. An example of this was the passing of Assembly Bill 495 in 2021 that results in a new excise tax on mining companies engaged in the business of extracting gold and silver in the state of Nevada.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“In addition, when governments struggle with deficits and concerns over the potential and actual effects of depressed economic conditions, many of them have in the past, and may in the future, target the mining and metals sector in order to raise revenue. Governments are continually assessing the fiscal terms of the economic rent for a mining company to exploit resources in their countries.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Numerous countries have implemented changes to their mining regimes that reflect increased government control over or participation in the mining sector, including, but not limited to, changes of law affecting foreign ownership and takeovers, mandatory government participation in mining enterprises, taxation and royalties, working conditions, rates of exchange, exchange controls, exploration licensing, export duties, requirements to sell to the government, repatriation of income or return of capital, environmental protection, as well as requirements intended to boost the local economy, including usage of local goods and employment of local and community staff or contractors, among other benefits to be provided to local residents.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“The financial and tax stability periods established by such agreements expired on December 31, 2025 which results in loss of tax advantages and tax protection.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Additionally, there is a risk of increase in key commodity prices, more restrictive local banking requirements including requirements for repatriation of proceeds to banks domiciled in Ghana, limitations on capacity of banks to provide reclamation bonds, requests for further local employment requirements, requests for contract renegotiation and increases in contract rates and other costs.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“In October 2021, Prime Minister Marape announced proposed legislation which, if enacted, would regulate the export of gold from PNG and require that mining companies operating in PNG refine gold with a new national mint. At this stage, it is unclear whether this proposed legislation will become law and, if so, when it would take effect.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Additionally, in May 2023, the Mexican government published several amendments to laws relating to the country's mining industry, which includes changes to Mexico's Mining Law, National Waters Law, General Law of Ecological Equilibrium and Environmental Protection and General Law for the Prevention and Integral Handling of Wastes (“Mining Reform”). The Mining Reform has added significant uncertainty for foreign investors in Mexico and companies operating in the mining sector, including Newmont.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“The proposed reforms include a possible ban on the granting of open pit mining concessions and banning activities related to the exploration, exploitation, benefit or use of minerals or metals using open pit mining methods, and potential limitations on water concessions in certain areas of the country. If proposed reforms were to be enacted it could materially impact our exploration activities and operations at Peñasquito and adversely impact financial results.”
Annual report 2025A · The company itself
Chains in: Geopolitical uncertainty strengthens
Chains out: this weakens Global trade volumes
Climate change and extreme weather
Macro
DriverNegative impact: weakens
“•Our operations and projects are subject to a range of transitional and physical risks related to climate change. •Our Company and the mining industry are facing continued geotechnical, geothermal and hydrogeological challenges, which could adversely impact our production and profitability. •Our operations and projects may be adversely affected by rising energy prices or energy shortages. •Our operations and projects are dependent on the availability of sufficient water supplies and subject to water-related risks. •Our operations and projects are subject to risks related to our relationships and/or agreements with local communities, including Indigenous Peoples, and laws for the protection of cultural heritage. •Our operations and projects are subject to risks of doing business in multiple jurisdictions. •New or changing legislation and tax risks in certain operating jurisdictions could negatively affect us.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Unusually dry climates can increase the chance of our operations being impacted by bush or forest fires. Physical risks related to extreme weather events such as extreme precipitation, flooding, longer wet or dry seasons, flooding and drought conditions, increased temperatures, sea level rise, landslides, mine flooding, tsunami, geysers and outbursts, avalanches, landslides, wildfires or brushfires, or more severe storms may have financial implications for the business.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“For example, we experienced severe flooding in early 2017 at our Tanami mine in Australia which led to shutdown of operations for several weeks.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“In late 2025, a bushfire that began in mid‑December affected the area surrounding our Boddington operations in Western Australia, resulting in a temporary suspension of operations. While major infrastructure remained secure and undamaged due to established bushfire preparedness protocols, portions of the site’s water supply infrastructure were impacted.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“For example, Brucejack’s glacial access road, which is an essential means of entering that mine site, may be subject to a risk of thawing due to the potential for an increase in average temperatures, which may be related to climate change.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Severe storm events can also result in unpermitted off-site discharges, slope instability, mine pit erosion and structural failures, tailings storage facility overtopping and other impacts, including water storage and treatment facility capacity considerations.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“For example, in January 2023, our Tanami site in Australia experienced unexpected and significant rain resulting in flooding and road closure limiting our ability to get supplies to the site, causing mill backup and impacts to production.”
Annual report 2025A · The company itself
Chains out: this weakens Agriculture and food production
Electricity
Raw materials and inputs
DriverNegative impact: weakens
“Energy disruptions can have an adverse impact on our results of operations and financial position due to production delays or additional costs to ensure business continuity through reliable sources of on-site power generation. Energy transmission and supply may be impacted by wildfires, such as those that occurred in Australia in 2020, which may interrupt electrical power transmission lines to mine sites, and that may pose risks to on-site facilities and energy generators, fuel dispensing systems and supplies.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“Producing gold is an energy-intensive business, currently resulting in a significant carbon footprint.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“Our mining operations and development projects require significant amounts of energy.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“Power for the operation is sourced through the local power grid under a long-term power purchase agreement with Bluewaters Power. The power supply contract with Bluewaters expires in 2031 and includes an option to extend.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“Water supply at Cadia is sourced from the Cadiangullong Dam, Upper Rodds Creek Dam, Flyers Creek Weir, Cadia Creek Weir, Orange Sewage Treatment Plant treated effluent, on-site groundwater bores, Belubula River, and site runoff. Cadia sources all of its power from the National Electricity Market. Cadia is currently under an electricity supply agreement and holds a power purchase agreement.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“Table of Contents Ahafo South sources all of its power from the National Electricity Market. Ahafo South is currently under an electricity supply agreement and holds a power purchase agreement. Power for the operation is sourced through the local power grid under a long-term power purchase agreement with the Volta River Authority. The power supply contract with Volta River Authority expires in 2028 and includes an option to extend.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“Power is either purchased in the open market or supplied by the power plants owned and operated by NGM.”
Annual report 2025A · The company itself
Chains in: Data centres strengthens, Electrification strengthens
Chains out: this strengthens Power grid expansion
Water
Raw materials and inputs
DriverNegative impact: weakens
“In 2019, Cadia experienced droughts, which resulted in temporary process plant water shortages and lower processed volumes. In 2023, Lihir’s operating and financial performance was impacted by lower feed grade reflecting a higher proportion of low grade material being processed in the second half of the year, following extreme rainfall that limited pit access and caused materials handling issues at the mine crusher. This followed prolonged drought conditions across the province of New Ireland in PNG, where Lihir is located, which resulted in limited raw water supply to Lihir.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Newmont operates in areas where watersheds are under stress with limited supply, increasing population and water demand, and impacted water in various forms. Increasing pressure on water use may occur due to in-migration of communities and increased populations in proximity to our operations.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Our Peñasquito operation is situated in an area with high baseline water stress. Peñasquito in Mexico takes its water supply from the Cedros Aquifer which has limited and declining yield as it is located in a dry and arid area that is prone to drought, and also is relied upon by nearby communities as a water supply for drinking water and agriculture.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Table of Contents In 2023, Lihir’s performance was impacted following extreme rainfall limiting pit access and causing material handling issues at the crushers. Lihir has also experienced reduced milling rates due to limited raw water supply to the plant driven by drought conditions experienced across the New Ireland Province in PNG.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“Our operations and projects are dependent on the availability of sufficient water supplies and subject to water-related risks.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“In December 2025, a decree issuing the General Waters Law and amendment to the National Waters Law was enacted, which could negatively impact the Company and its operations in Mexico if the Company requires additional volumes to those under its current concessions. Potential impacts include restrictions on transfer of water volumes among concessionaires and other water volume limitations.”
Annual report 2025A · The company itself
Geopolitical uncertainty
Macro
DriverNegative impact: weakens
“We are exposed to material availability, disruption and performance risks across our supply chain, including lack of suitable suppliers or contractors, cost increases, impacts of pandemics and epidemics on the supply chain, transportation and logistics issues including delays in delivery, disruption to trade flows due to geopolitical tensions and/or changes in legislation, performance of suppliers and contractors to contractual terms, and damage to our reputation caused by actions of our suppliers or contractors.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Security incidents, in the future, may have a material adverse effect on our operations, development projects, exploration and reclamation activities, especially if criminal activity and violence escalate. Such incidents may halt or delay production, increase operating costs; result in harm to employees, contractors, 29 Table of Contents visitors or community members; decrease operational efficiency due to employee absenteeism and other factors; increase community tensions or otherwise adversely affect our ability to conduct business.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Our operations and projects in Canada are subject to legal and regulatory risks and other uncertainties in connection with claims and challenges by Indigenous groups. First Nations have made claims in respect of Indigenous rights and title to substantial portions of land and water across Canada, which could impact our exploration projects, and operations at Red Chris and Brucejack.”
Annual report 2025A · The company itself
Chains out: this strengthens Defence budgets, strengthens Energy security, strengthens Tariffs and trade policy, weakens Global trade volumes, strengthens Sea freight and freight rates, weakens Reconstruction of Ukraine
USD vs DKK/EUR
Macro
DriverNegative impact: weakens
“Significant devaluation of the Surinamese dollar against the U.S. dollar in recent years has resulted in an increase of the prices of certain goods and services within Suriname, including without limitation, the price of fuel, which had been subsidized by successive governments.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Additionally, there is a risk of increase in key commodity prices, more restrictive local banking requirements including requirements for repatriation of proceeds to banks domiciled in Ghana, limitations on capacity of banks to provide reclamation bonds, requests for further local employment requirements, requests for contract renegotiation and increases in contract rates and other costs.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Fluctuations in the local currency exchange rates in relation to the U.S. dollar can increase or decrease profit margins, cash flow and Costs applicable to sales to the extent costs are paid in local currency at foreign operations. We performed a sensitivity analysis to estimate the impact to Costs applicable to sales arising from a hypothetical 10% adverse movement to local currency exchange rates at December 31, 2025 in relation to the U.S. dollar at our foreign mining operations, with no mitigation assumed from our foreign currency cash flow hedges. The sensitivity analysis indicated that a hypothetical 10% adverse movement would result in an approximate increase of $498 to Costs applicable to sales at December 31, 2025.”
Annual report 2025A · The company itself
Chains out: this mixed effect United States
Business cycle and GDP growth
Macro
DriverMixed impact: mixed
“Market perceptions of the mining sector, and, in particular, the role that certain metals will or will not play in the transition to a low-carbon economy remains uncertain.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Numerous countries have implemented changes to their mining regimes that reflect increased government control over or participation in the mining sector, including, but not limited to, changes of law affecting foreign ownership and takeovers, mandatory government participation in mining enterprises, taxation and royalties, working conditions, rates of exchange, exchange controls, exploration licensing, export duties, requirements to sell to the government, repatriation of income or return of capital, environmental protection, as well as requirements intended to boost the local economy, including usage of local goods and employment of local and community staff or contractors, among other benefits to be provided to local residents.”
Annual report 2025A · The company itself
Chains out: this strengthens Global trade volumes, strengthens Construction
Labour regulation
Regulation
DriverNegative impact: weakens
“•We may be unable to obtain or retain necessary permits and land or mining tenure which could adversely affect our operations and projects. •Mining companies are increasingly required to consider and provide benefits to the communities and countries in which they operate in order to maintain operations. •Illegal mining and artisanal mining occurs on or adjacent to certain of our properties exposing such sites to security risks. •Civil disturbances and criminal activities can disrupt business and expose the Company to liability. •Our operations and projects face substantial regulation of health and safety. •Our operations and projects are subject to extensive environmental laws and regulations. •Our operations and projects are subject to a range of risks related to transitioning the business to meet regulatory, societal and investor expectations for operating in a low-carbon economy.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Our operations are subject to extensive and complex laws and regulations governing worker health and safety across our operating regions and our failure to comply with applicable legal requirements can result in substantial penalties. Future changes in applicable laws, regulations, permits and approvals or changes in their enforcement or regulatory interpretation could substantially increase costs to achieve compliance, lead to the revocation of existing or future exploration or mining rights or otherwise have an adverse impact on our results of operations and financial position.”
Annual report 2025A · The company itself
Carbon tax and ETS prices
Regulation
DriverNegative impact: weakens
“For example, operational and capital expenses are expected to increase in order to meet renewable portfolio standard requirements from current costs over the next 10 years in Australia, Canada, Mexico and the Carbon taxes, fuel switching and the transition to cleaner purchased power and/or on-site renewable energy generation will require significant upfront capital expenditures and may also increase operating costs. As another example, the carbon tax in Canada of C$80/tonne of CO2 set to increase to C$170 by 2030, is impacting operating costs at our Canadian operations.”
Annual report 2025A · The company itself
Chains out: this weakens Shipping and logistics, strengthens Energy efficiency, weakens Cement and building materials
Steel
Raw materials and inputs
DriverPositive impact: strengthens
“Average gold prices for 2025 were $3,432 per ounce (2024: $2,386; 2023: $1,941), average copper prices for 2025 were $4.51 per pound (2024: $4.15; 2023: $3.85), average silver prices for 2025 were $40.03 per ounce (2024: $28.27; 2023: $23.35), average lead prices for 2025 were $0.89 per pound (2024: $0.94; 2023: $0.97), and average zinc prices for 2025 were $1.30 per pound (2024: $1.26; 2023: $1.20).”
Annual report 2025A · The company itself
Chains in: Wind power strengthens
Labour and wages
Raw materials and inputs
DriverNegative impact: weakens
“In Suriname, the collective bargaining with the union for our Merian mine was entered into in 2023, and expired in April 2025. The negotiations with the union commenced in December 2024 and are currently at the mediation stage.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Our ability to achieve our operating goals depends upon our ability to recruit, hire, retain and develop qualified and diverse personnel to execute on our strategy. There continues to be competition over highly skilled personnel in our industry.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“Additionally, the Mexican government enacted labor and tax laws in April 2021, significantly restricting certain subcontracting and outsourcing of personnel, which has required the conversion of certain contractors to employee status and resulted in increased labor costs.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“The primary factors that influence the need to record write-downs of our stockpiles, leach pads and product inventory include short-term and long-term metals prices and costs for production inputs such as labor, fuel and energy, materials and supplies as well as realized ore grades and recovery rates.”
Annual report 2025A · The company itself
Fuel
Raw materials and inputs
DriverNegative impact: weakens
“A variety of factors, including higher energy usage in emerging market economies, actual and proposed taxation of carbon emissions as well as concerns surrounding global conflicts, could result in increased demand or limited supply of energy and/or sharply escalating diesel fuel, natural gas and other energy prices.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“Our mining operations and development projects require significant amounts of energy.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“The primary factors that influence the need to record write-downs of our stockpiles, leach pads and product inventory include short-term and long-term metals prices and costs for production inputs such as labor, fuel and energy, materials and supplies as well as realized ore grades and recovery rates.”
Annual report 2025A · The company itself
Chains out: this strengthens Shipping and logistics, strengthens Aviation and travel
Natural gas
Raw materials and inputs
DriverNegative impact: weakens
“In jurisdictions that rely on purchased hydroelectric power, such as in Ghana and Peru, extreme drought and extended dry seasons may impact the electric utility’s water supplies needed to generate hydroelectric power purchased by the mine to run operations, which would result in higher costs and/or limit energy availability for continuity of operations as well as impact our environmental systems and processes.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“A variety of factors, including higher energy usage in emerging market economies, actual and proposed taxation of carbon emissions as well as concerns surrounding global conflicts, could result in increased demand or limited supply of energy and/or sharply escalating diesel fuel, natural gas and other energy prices.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“Our mining operations and development projects require significant amounts of energy.”
Annual report 2025A · The company itself
Automation and robotics
Technology
DriverNegative impact: weakens
“The development and deployment of technological improvements or innovations will be required to support the transition to a low-carbon economy, which could result in write-offs and early retirement of existing assets, increased costs to adopt and deploy new 32 Table of Contents practices and processing including planning and design for mines, development of alternative power sources, site level efficiencies and other capital investments.”
Annual report 2025A · The company itself
InputNegative impact: weakens
“The mining industry has been impacted, from time to time, by increased demand for critical resources such as input commodities, drilling equipment, trucks, shovels and tires. These shortages have, at times, impacted the efficiency of our operations, and resulted in cost increases and delays in construction of projects; thereby impacting operating costs, capital expenditures and production and construction schedules.”
Annual report 2025A · The company itself
Inflation
Macro
DriverNegative impact: weakens
“A variety of factors, including higher energy usage in emerging market economies, actual and proposed taxation of carbon emissions as well as concerns surrounding global conflicts, could result in increased demand or limited supply of energy and/or sharply escalating diesel fuel, natural gas and other energy prices.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“Suriname is faced with high debts to foreign creditors, significant inflation rates and has experienced, and may in the future experience, a hyperinflationary economy.”
Annual report 2025A · The company itself
Chains out: this weakens Consumer spending, strengthens Interest rates
ESG and sustainability reporting
Regulation
DriverNegative impact: weakens
“•We may be unable to obtain or retain necessary permits and land or mining tenure which could adversely affect our operations and projects. •Mining companies are increasingly required to consider and provide benefits to the communities and countries in which they operate in order to maintain operations. •Illegal mining and artisanal mining occurs on or adjacent to certain of our properties exposing such sites to security risks. •Civil disturbances and criminal activities can disrupt business and expose the Company to liability. •Our operations and projects face substantial regulation of health and safety. •Our operations and projects are subject to extensive environmental laws and regulations. •Our operations and projects are subject to a range of risks related to transitioning the business to meet regulatory, societal and investor expectations for operating in a low-carbon economy.”
Annual report 2025A · The company itself
Export controls and China relations
Regulation
DriverNegative impact: weakens
“•Newmont’s global operations create exposure to U.S. and international trade, sanctions, and export control risks. As a U.S.-headquartered company, Newmont must comply with U.S. trade laws worldwide, as well as applicable local regulations. These risks stem from cross-border movement of mineral, equipment, technology, services, capital, and data, often involving third 14 Table of Contents parties.”
Annual report 2025A · The company itself
Pandemics and outbreaks
Macro
DriverNegative impact: weakens
“We are exposed to material availability, disruption and performance risks across our supply chain, including lack of suitable suppliers or contractors, cost increases, impacts of pandemics and epidemics on the supply chain, transportation and logistics issues including delays in delivery, disruption to trade flows due to geopolitical tensions and/or changes in legislation, performance of suppliers and contractors to contractual terms, and damage to our reputation caused by actions of our suppliers or contractors.”
Annual report 2025A · The company itself
Chains out: this weakens Aviation and travel, strengthens Vaccines (travel health and preparedness)
Sea freight and freight rates
Raw materials and inputs
InputNegative impact: weakens
“We are exposed to material availability, disruption and performance risks across our supply chain, including lack of suitable suppliers or contractors, cost increases, impacts of pandemics and epidemics on the supply chain, transportation and logistics issues including delays in delivery, disruption to trade flows due to geopolitical tensions and/or changes in legislation, performance of suppliers and contractors to contractual terms, and damage to our reputation caused by actions of our suppliers or contractors.”
Annual report 2025A · The company itself
Chains in: Geopolitical uncertainty strengthens
Subcontractors and haulage capacity
Raw materials and inputs
InputNegative impact: weakens
“We rely on our global supply chain to procure goods and services from suppliers and contractors to support our operations and projects. We are exposed to material availability, disruption and performance risks across our supply chain, including lack of suitable suppliers or contractors, cost increases, impacts of pandemics and epidemics on the supply chain, transportation and logistics issues including delays in delivery, disruption to trade flows due to geopolitical tensions and/or changes in legislation, performance of suppliers and contractors to contractual terms, and damage to our reputation caused by actions of our suppliers or contractors.”
Annual report 2025A · The company itself
Asia and emerging markets
Geography
Geography
“Segment Information The Company's 13 reportable segments consist of each of its 12 mining operations that it manages and its 38.5% proportionate interest in Nevada Gold Mines ("NGM"), which it does not directly manage.”
Annual report 2025A · The company itself
Geography
“In October 2025, the Company declared commercial production at its Ahafo North project in Ghana resulting in classification as a reportable segment.”
Annual report 2025A · The company itself
Geography
“Artisanal, small scale and illegal miners have been active on, or adjacent to, some of Newmont’s African and South American properties, including in Peru, Suriname and Ghana in recent years.”
Annual report 2025A · The company itself
Europe
Geography
Geography
“Segment Information The Company's 13 reportable segments consist of each of its 12 mining operations that it manages and its 38.5% proportionate interest in Nevada Gold Mines ("NGM"), which it does not directly manage.”
Annual report 2025A · The company itself
Financial regulation
Regulation
DriverNegative impact: weakens
“Also in Australia, the Debt Deduction Creation Rules, introduced during 2024 and which will first apply to the 2025 year, could have the potential to limit the tax deductibility of intercompany interest expense.”
Annual report 2025A · The company itself
United States
Geography
Geography
“Newmont’s corporate headquarters are in Denver, Colorado, U.S.”
Annual report 2025A · The company itself
Chains in: USD vs DKK/EUR mixed effect
Competitors mentioned in the report
No named competitors in the report.
Financial figures
| Revenue latest fiscal year | 22.67 bn USD |
| Revenue growth vs. the year before, same method | 21.3 % |
| EBITDA reported by the company | N/A |
| Net debt debt incl. leasing minus cash | Net cash 2.42 bn USD |
| Diluted EPS per share | 6.39 USD |
Source: 10-K (SEC) A. See the report
Criteria
| Profit | ✓ |
| Growing | ✓ |
| Healthy balance sheet | N/A |
Only the criteria that can be computed from financial statements on this page. The remaining criteria (such as price and dividend) need a share price and are in the analysis.
Figures are in the report's currency (USD), not converted to DKK. Quotes are shown as the company's own words in English.