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Newmont Corporation

Newmont Reports 2025 Mineral Reserves of 118.2 Million Gold Ounces and 12.5 Million Tonnes of Copper

DENVER--(BUSINESS WIRE)--Feb. 19, 2026-- Newmont Corporation (NYSE: NEM, ASX: NGT, PNGX: NEM) (Newmont or the Company) reported gold Mineral Reserves ("reserves") of 118.2 million attributable ounces at the end of 2025 compared to 134.1 million attributable ounces at the end of 2024, mainly driven by the divestment of assets in 2025. Newmont's portfolio includes significant reserves from other metals, including 12.5 million attributable tonnes of copper reserves and 442 million attributable ounces of silver reserves.

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Percentage of Gold Reserves by Jurisdiction

Percentage of Gold Reserves by Jurisdiction

"In 2025, Newmont maintained its position of having the industry's largest gold reserve base, declaring 118 million ounces of reserves, representing decades of production life with meaningful upside," said Natascha Viljoen, Newmont's President and Chief Executive Officer. "Through the disciplined application of technical rigor in our leading exploration program, we remain focused on extending mine life, discovering new opportunities, and unlocking value across our world-class portfolio of operations and projects."

2025 Reserves & Resources Highlights

  • The gold industry's largest reserve base with 118.2 million attributable ounces1
  • Changes since 2024 are mainly driven by divestments (8.6 million ounces), followed by depletion from mining, reclassification of the Yanacocha Sulfides project reserves to resources, and cost escalation assumptions, offset by an increased gold price assumption, resource conversion and other positive revisions at Brucejack, Tanami, Lihir, Ahafo North and Ahafo South
  • Gold reserves are determined based on a gold price of $2,000 per ounce following the annual pricing review, more than 20 percent below the three-year trailing average price and well below the current spot price
  • Newmont benefits from a premier operating asset base with gold reserve life of ten years or more at Lihir, Cadia, Tanami, Boddington, Ahafo North, Merian, Cerro Negro, Brucejack, Nevada Gold Mines (NGM), and Pueblo Viejo further enhanced by a broader portfolio and organic project pipeline
  • Measured & Indicated Gold Mineral Resources2 of 88.1 million attributable ounces and Inferred Resources of 60.6 million attributable ounces, determined based on a gold price of $2,300 per ounce
  • Significant exposure to other metals including 12.5 million attributable tonnes of copper reserves, 13.1 million attributable tonnes of Measured & Indicated copper resources and 5.6 million attributable tonnes of Inferred copper resources, along with 442 million ounces of silver reserves, 508 million ounces of Measured & Indicated silver resources and 126 million ounces of Inferred silver resources
  • Additional exposure to other metals including lead, zinc and molybdenum
_______________________________________________

1

Compared to 2024 reserves disclosed by gold mining companies in 2025

2

Exclusive of Mineral Reserves

Percentage of Gold Reserves by Jurisdiction

Newmont’s reserve base is a key differentiator with an operating reserve life of more than ten years at eight managed sites and two non-managed joint ventures, anchored in favorable mining jurisdictions along with significant upside potential from a robust organic project pipeline.

PROVEN & PROBABLE GOLD RESERVES

For 2025, Newmont reported 118.2 million attributable ounces of gold reserves compared to the prior year total of 134.1 million attributable ounces. Divestment of assets accounted for 8.6 million ounces of this reduction3, followed by depletion from mining of 7.2 million ounces, net negative revisions of 5.6 million ounces (primarily from Yanacocha Sulfides reclassified to resource) and cost escalation assumption impacts of 3.1 million ounces, offset by increases from price related revisions of 6.6 million ounces, as well as the addition of 2.0 million ounces from conversion of resources and other additions primarily at Brucejack (+0.7 million ounces) and Lihir (+0.5 million ounces).

_____________________________________________

3

Assets divested in 2025 were CC&V, United States; Musselwhite, Canada; Porcupine, Canada; Éléonore, Canada; and Akyem, Ghana.

Managed Assets

  • Brucejack reserves increased 1.0 million ounces to 2.9 million ounces, primarily due to conversion of resources of 0.7 million, positive net revisions of 0.3 million following favorable drilling results and a favorable price impact of 0.2 million ounces net of cost escalation assumptions, offsetting depletion of 0.2 million ounces
  • Merian reserves increased 0.4 million ounces to 4.5 million ounces, primarily due to favorable price related revisions of 0.8 million ounces, more than offsetting negative net revisions of 0.2 million ounces and depletion of 0.2 million ounces
  • Lihir reserves increased 0.2 million ounces to 16.0 million ounces, primarily due to favorable price impacts of 0.8 million ounces and conversion from resources through infill drilling of 0.5 million ounces, partially offset by net negative revisions of 0.3 million ounces offsetting depletion of 0.8 million ounces
  • Tanami reserves increased 0.2 million ounces to 5.3 million ounces, primarily due to favorable price impacts, net of cost escalation of 0.3 million ounces, additions from net positive revisions of 0.2 million ounces and resource conversion from infill drilling of 0.1 million ounces, more than offsetting depletion of 0.4 million ounces
  • Ahafo North reserves increased 0.1 million ounces to 4.7 million ounces, primarily due to additions from resources through updated mine designs of 0.2 million ounces, partially offset by depletion of 0.1 million ounces
  • Red Chris reserves decreased 0.1 million ounces to 3.6 million ounces, primarily due to depletion of 0.1 million ounces
  • Cerro Negro reserves decreased 0.2 million ounces to 3.0 million ounces, primarily due to depletion of 0.2 million ounces and negative net revisions of 0.1 million ounces, partially offset by 0.1 million ounces of conversions from resources with infill drilling
  • Ahafo South reserves decreased 0.5 million ounces to 4.1 million ounces, primarily due to the depletion of 0.8 million ounces, partially offset by 0.2 million ounces added at the Apensu South open pit and positive price impacts of 0.1 million ounces
  • Boddington reserves decreased 0.6 million ounces to 10.2 million ounces, primarily due to depletion of 0.6 million ounces and negative net revisions of 0.1 million ounces, partially offset by favorable price related revisions 0.1 million ounces net of cost escalation assumptions
  • Cadia reserves decreased 0.6 million ounces to 13.5 million ounces, primarily due to depletion of 0.5 million ounces
  • Peñasquito reserves decreased 0.9 million ounces to 3.2 million ounces, primarily due to depletion of 0.8 million ounces along with negative net revisions from a block model update of 0.2 million ounces partially offset by favorable price impact of 0.1 million ounces
  • Yanacocha reserves decreased 4.8 million ounces to 0.5 million ounces, primarily due to the reclassification of 4.5 million ounces of reserves relating to the Yanacocha Sulfides project to resources, allowing Newmont to prioritize other opportunities at site and continue advancing closure activities in non-operating areas

Non-Managed Assets

  • Newmont’s 38.5 percent interest in Nevada Gold Mines represented 17.4 million attributable ounces of gold reserves at year end, compared to 17.9 million ounces at the end of 2024
  • Newmont's 40 percent interest in Pueblo Viejo represented 8.2 million attributable ounces of gold reserves at year end with no change from 2024

Newmont's gold grade reserve remained unchanged at 0.94 grams per tonne year over year when adjusted for the divested assets.

GOLD RESOURCES45

At the end of 2025, Newmont reported Measured and Indicated Gold Mineral Resources of 88.1 million attributable ounces, an 11 percent decrease from the prior year total of 99.4 million attributable ounces. Inferred Gold Mineral Resources totaled 60.6 million attributable ounces, a 14 percent decrease from the prior year total of 70.6 million attributable ounces. The main driver of lower resources is 14.6 million ounces removed from assets divested in 20256, together with net negative revisions, net resource conversions to reserves, and updated cost assumptions; partially offset by the resource increases from price assumption related revisions, as well as additions.

Notable Changes7

  • Cadia resources decreased by 8.5 million ounces (44 percent) to 11.0 million ounces, primarily driven by 5.7 million ounces of net negative revisions related to a geotechnical standoff from the in-pit tailings facility as well as block model updates and changes to inferred resource classifications as a consequence of an updated drill spacing study. An additional 3.0 million ounces of negative impact from higher cost expectations for future caves net of benefits from higher price assumptions
  • Namosi resources of 5.0 million ounces were removed from resources as Newmont further evaluates the project
  • Yanacocha resources increased by 4.3 million ounces, primarily driven by 4.5 million ounces reclassified from reserves from Yanacocha Sulfides, aligned with Newmont's decision to indefinitely defer the project
  • Ahafo South resources increased 45 percent to 7.4 million ounces, primarily driven by 1.7 million ounces of resource additions largely at Apensu underground

Newmont’s Measured and Indicated Gold Mineral Resource grade decreased to 0.58 grams per tonne compared to 0.59 grams per tonne in the prior year. Inferred Gold Mineral Resource increased to 0.9 grams per tonne compared to 0.6 grams per tonne in the prior year, largely due to the removal of inferred resources from Namosi and assets divested.

_______________________________________

4

Total resources presented includes Measured and Indicated resources of 88.1 million attributable gold ounces and Inferred resources of 60.6 million attributable gold ounces. See cautionary statement at the end of this release.

5

Net Conversion inclusive of ounces reclassified from reserves to resources.

6

Assets divested in 2025 were CC&V, United States; Musselwhite, Canada; Porcupine, Canada; Éléonore, Canada; and Akyem, Ghana.

7

Includes Measured and Indicated as well as Inferred resources. See detailed tables that follow.

OTHER METALS

Copper reserves decreased slightly to 12.5 million tonnes from 13.5 million tonnes in the prior year, primarily due to reclassification of the Yanacocha Sulfides project to resources. Measured and Indicated copper resources decreased to 13.1 million tonnes from 14.1 million tonnes. Inferred copper resources decreased to 5.6 million tonnes from 11.0 million tonnes driven almost entirely by the removal of Namosi.

Silver reserves decreased to 442 million ounces compared to 530 million ounces in the prior year, primarily due to the reclassification of the Yanacocha Sulfides project to resources and depletion at Peñasquito. Measured and Indicated silver resources increased to 508 million ounces from 469 million ounces in the prior year while inferred silver resources increased to 126 million ounces from 113 million ounces in the prior year; both due to the reclassification of the Yanacocha Sulfides projects.

Lead reserves decreased slightly to 0.7 million tonnes from 0.8 million tonnes primarily due to depletion. Measured and Indicated lead resources were unchanged at 0.5 million tonnes. Zinc reserves decreased to 1.5 million tonnes from 1.7 million tonnes primarily due to depletion. Measured and Indicated zinc resources increased to 1.4 million tonnes from 1.2 million tonnes.

Molybdenum reserves were unchanged at 0.2 million tonnes. Measured and Indicated molybdenum resources remained unchanged at 0.1 million tonnes.

EXPLORATION OUTLOOK

Newmont’s attributable exploration expenditure for managed operations is expected to be approximately $205 million in 2026 with 80 percent of total exploration investment dedicated to near-mine expansion programs and brownfields with the remaining 20 percent allocated to the advancement of greenfield projects.

Additionally, Newmont’s share of exploration investment for its non-managed operations is expected to be approximately $35 million, for a total consolidated exploration expense outlook of $240 million for 2026.

Newmont expects to invest the largest proportion of exploration funds in prospective targets at Merian, Cerro Negro, and Ahafo South.

UPDATED GOLD PRICE FOR MINERAL RESERVES AND MINERAL RESOURCES

As part of the annual Mineral Reserves and Mineral Resources update, Newmont assesses the metal price assumptions used for the calculation of year-end reserves and resources.

In line with market conditions, Newmont has increased its reserves gold price assumption by 18 percent to $2,000 per ounce from $1,700 per ounce in 2024; which is less than 60 percent of the 2025 average realized gold price. Newmont's updated reserves gold price is approximately 23 percent lower than the three-year trailing gold price average of $2,586 per ounce. Historically, over the last ten years (2015 - 2024), Newmont has assumed a reserve price approximately 13 percent below the three year trailing average. Consistent with Newmont's historical approach, the resources gold price has been calibrated higher than reserves to allow identification of the optimum areas to further expand the life of its assets and to target where additional drilling and study work is required at its operating mines. For 2025, mineral resources are based on a $2,300 per ounce.

Newmont's robust internal processes and proven track record of responsibly and rigorously defining reserves and resources will continue to support the development of its world-class portfolio and organic project pipeline.

GOLD RESERVE SENSITIVITY

A $100 increase in gold price would result in an approximate 5 percent increase in gold reserves while a $100 decrease in gold price would result in an approximate 2 percent decrease in gold reserves. These sensitivities assume an oil price of $75 per barrel (WTI), Australian dollar exchange rate of $0.70 and Canadian dollar exchange rate of $0.75. These sensitivities assume all other inputs remain equal, including all cost and capital assumptions, which may also have a material impact on these approximate estimates.

KEY RESERVE AND RESOURCE ASSUMPTIONS8

 

At December 31,

 

2025

2024

Gold Reserves ($/oz)

$2,000

$1,700

Gold Resources ($/oz)

$2,300

$2,000

Copper Reserves ($/lb)

$3.75

$3.50

Copper Resources ($/lb)

$4.25

$4.00

Silver Reserves ($/oz)

$25.00

$20.00

Silver Resources ($/oz)

$28.00

$23.00

Lead Reserves ($/lb)

$0.90

$0.90

Lead Resources ($/lb)

$1.00

$1.00

Zinc Reserves ($/lb)

$1.20

$1.20

Zinc Resources ($/lb)

$1.30

$1.30

Molybdenum Reserves ($/lb)

$13.00

$13.00

Molybdenum Resources ($/lb)

$16.00

$16.00

Australian Dollar (A$:US$)

$0.70

$0.70

Canadian Dollar (C$:US$)

$0.75

$0.75

West Texas Intermediate ($/bbl)

$75.00

$75.00

For additional details on Newmont’s reported gold, copper, silver, lead, zinc, and molybdenum Mineral Reserves and Mineral Resources, please refer to the tables at the end of this release.

_____________________________________________________

8

For 2025 and 2024, Newmont reserves and resources were estimated using the price assumptions noted, except for certain sites as detailed in the footnotes of the reserves and resources tables below.

RESERVE AND RESOURCE TABLES

Proven and probable reserves are based on extensive drilling, sampling, mine modeling and metallurgical testing from which Newmont determined economic feasibility. The reference point for mineral reserves is the point of delivery to the process plant. Metal price assumptions, adjusted for Newmont's exchange rate assumption, are based on considering such factors as market forecasts, industry consensus and management estimates. 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 below list the average estimated in-situ metallurgical recovery rate for each deposit, which takes into account the relevant processing methods. The cut-off grade, or lowest grade of mineralization considered economic to process, varies between deposits depending upon prevailing economic conditions, mineability of the deposit, by-products, amenability of the ore to gold, copper, silver, lead, zinc or molybdenum extraction and type of milling or leaching facilities available. Reserve estimates may have non-material differences in comparison to our joint venture partners due to differences in classification and rounding methodology.

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, copper, silver, lead, zinc and molybdenum will be realized. Ounces of gold or silver or tonnes of copper, lead, zinc 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, copper, silver, lead, zinc and molybdenum, as well as increased production costs or reduced metallurgical recovery rates, could render certain proven and probable reserves containing higher cost reserves 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. The reference point for mineral resources is in situ. 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. The terms "measured resource," "indicated resource," and "inferred resource" mean that part of a mineral resource for which quantity and grade or quality are estimated on the basis of geological evidence and sampling that is considered to be comprehensive, adequate, or limited, respectively. 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.

Newmont publishes reserves annually, and will recalculate reserves at December 31, 2026, taking into account metal prices, changes, if any, to future production and capital costs, divestments and conversion to reserves, as well as any acquisitions and additions during 2026.

Please refer to the reserves and resources cautionary statement at the end of the release.

Gold Reserves (1)

December 31, 2025

December 31, 2024

 

 

Proven Reserves

Probable Reserves

Proven and Probable Reserves

 

Proven and Probable Reserves

Deposits/Districts

Newmont

Share

Tonnage (2)

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Tonnage (2)

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Tonnage (2)

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Metallurgical

Recovery (3)

Tonnage (2)

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Lihir Open Pits

100

%

—

—

—

147,900

2.55

12,100

147,900

2.55

12,100

76

%

125,900

2.86

11,600

Lihir Stockpiles (4)

100

%

—

—

—

72,300

1.65

3,800

72,300

1.65

3,800

76

%

77,100

1.68

4,200

Total Lihir, Papua New

Guinea (5)

100

%

—

—

—

220,200

2.26

16,000

220,200

2.26

16,000

76

%

203,000

2.41

15,800

Wafi-Golpu, Papua New Guinea (6)(7)

50

%

—

—

—

194,500

0.82

5,100

194,500

0.82

5,100

68

%

194,500

0.82

5,100

Cadia, Australia (8)

100

%

—

—

—

1,007,600

0.42

13,500

1,007,600

0.42

13,500

81

%

1,051,800

0.42

14,100

Tanami, Australia

100

%

10,100

4.88

1,600

22,700

5.10

3,700

32,800

5.03

5,300

98

%

29,900

5.27

5,100

Boddington Open Pit

100

%

265,300

0.62

5,300

216,300

0.58

4,100

481,700

0.60

9,300

85

%

495,700

0.62

9,900

Boddington Stockpiles (4)

100

%

5,600

0.56

100

57,800

0.43

800

63,400

0.44

900

84

%

64,100

0.43

900

Total Boddington, Australia (9)

100

%

271,000

0.61

5,400

274,100

0.55

4,900

545,100

0.58

10,200

85

%

559,800

0.60

10,800

Ahafo South Open Pit (10)

100

%

2,500

1.16

100

40,900

1.48

1,900

43,400

1.46

2,000

88

%

42,000

1.63

2,200

Ahafo South Underground (11)

100

%

9,400

2.51

800

10,000

2.23

700

19,400

2.37

1,500

94

%

21,300

2.54

1,700

Ahafo South Stockpiles (4)(12)

100

%

18,500

0.94

600

—

—

—

18,500

0.94

600

91

%

21,700

0.97

700

Total Ahafo South, Ghana

100

%

30,400

1.44

1,400

50,900

1.63

2,700

81,300

1.56

4,100

91

%

85,000

1.69

4,600

Ahafo North, Ghana(13)

100

%

—

—

—

65,500

2.23

4,700

65,500

2.23

4,700

89

%

62,000

2.32

4,600

Total Ahafo Complex, Ghana

100

%

30,400

1.44

1,400

116,500

1.97

7,400

146,900

1.86

8,800

90

%

147,000

1.96

9,200

Merian, Suriname

75

%

24,800

1.21

1,000

104,600

1.06

3,600

129,400

1.09

4,500

93

%

110,700

1.16

4,100

Cerro Negro, Argentina

100

%

2,200

11.20

800

6,800

10.38

2,300

9,000

10.58

3,000

94

%

9,300

10.82

3,200

Pueblo Viejo Open Pit

40

%

35,800

2.22

2,600

51,300

1.95

3,200

87,100

2.06

5,800

81

%

81,700

2.13

5,600

Pueblo Viejo Stockpiles (4)

40

%

—

—

—

36,900

2.04

2,400

36,900

2.04

2,400

81

%

38,800

2.07

2,600

Total Pueblo Viejo, Dominican Republic (7)(14)

40

%

35,800

2.22

2,600

88,200

1.99

5,600

123,900

2.06

8,200

81

%

120,500

2.11

8,200

NuevaUnión, Chile (7)(15)

50

%

—

—

—

341,100

0.47

5,100

341,100

0.47

5,100

66

%

341,100

0.47

5,100

Norte Abierto, Chile (7)(16)

50

%

—

—

—

521,100

0.65

10,800

521,100

0.65

10,800

86

%

598,800

0.60

11,600

Yanacocha, Peru

100

%

18,800

0.81

500

—

—

—

18,800

0.81

500

71

%

126,400

1.31

5,300

Peñasquito Open Pits

100

%

79,500

0.54

1,400

114,800

0.44

1,600

194,300

0.48

3,000

62

%

224,700

0.52

3,800

Peñasquito Stockpiles (4)

100

%

4,900

0.44

100

21,800

0.21

100

26,700

0.25

200

45

%

32,000

0.26

300

Total Peñasquito, Mexico

100

%

84,400

0.53

1,400

136,600

0.40

1,800

221,000

0.45

3,200

61

%

256,600

0.49

4,100

Red Chris, Canada (17)

70

%

2,600

0.32

—

178,900

0.63

3,600

181,500

0.62

3,600

69

%

186,400

0.62

3,700

Brucejack, Canada

100

%

—

—

—

13,500

6.65

2,900

13,500

6.65

2,900

96

%

8,600

6.95

1,900

NGM Open Pit (18)

38.5

%

—

—

—

131,100

1.02

4,300

131,100

1.02

4,300

75

%

124,200

1.16

4,600

NGM Stockpiles (4)(19)

38.5

%

6,800

1.29

300

20,800

2.35

1,600

27,600

2.09

1,800

67

%

29,200

2.08

2,000

NGM Underground (20)

38.5

%

4,200

11.67

1,600

37,900

7.93

9,700

42,100

8.30

11,200

84

%

43,700

8.06

11,300

Total NGM, United States (21)

38.5

%

10,900

5.24

1,800

189,800

2.54

15,500

200,700

2.69

17,400

80

%

197,100

2.82

17,900

Divested (22)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CC&V Open Pit

 

 

 

 

 

 

 

 

 

 

 

115,600

0.43

1,600

CC&V Leach Pads (23)

 

 

 

 

 

 

 

 

 

 

 

34,600

0.73

800

Total CC&V, United States

 

 

 

 

 

 

 

 

 

 

 

150,200

0.50

2,400

Musselwhite, Canada

 

 

 

 

 

 

 

 

 

 

 

7,400

6.43

1,500

Porcupine Underground

 

 

 

 

 

 

 

 

 

 

 

4,400

6.46

900

Porcupine Open Pit

 

 

 

 

 

 

 

 

 

 

 

30,600

1.46

1,500

Total Porcupine, Canada

 

 

 

 

 

 

 

 

 

 

 

34,900

2.09

2,300

Éléonore, Canada

 

 

 

 

 

 

 

 

 

 

 

10,100

5.05

1,600

Akyem Open Pit

 

 

 

 

 

 

 

 

 

 

 

18,200

1.54

900

Akyem Stockpiles (4)

 

 

 

 

 

 

 

 

 

 

 

700

0.72

—

Total Akyem, Ghana

 

 

 

 

 

 

 

 

 

 

 

19,000

1.51

900

Total Gold

 

490,900

1.04

16,500

3,416,100

0.93

101,800

3,907,000

0.94

118,200

81

%

4,363,000

0.96

134,100

____________________________

(1)

At December 31, 2025 and 2024, gold reserves at sites for which Newmont is the operator were estimated at a gold price of $2,000 and $1,700 per ounce, respectively, unless otherwise noted. Reserves provided by other operators may use pricing that differs. Amounts presented may not recalculate in total due to rounding.

(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 100,000.

(4)

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.

(5)

Cut-off grade utilized in 2025 reserves not less than 1.00 gram per tonne.

(6)

Project is currently undeveloped. Gold reserves at December 31, 2025 were estimated at a gold price of $1,200 per ounce.

(7)

Included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.

(8)

The net smelter return value utilized in 2025 reserves not less than $24.62 per tonne.

(9)

The net smelter return value utilized in 2025 reserves not less than $18.24 per tonne.

(10)

Cut-off grade utilized in 2025 reserves not less than 0.49 gram per tonne.

(11)

Cut-off grade utilized in 2025 reserves not less than 1.80 gram per tonne.

(12)

Cut-off grade utilized in 2025 reserves not less than 0.48 gram per tonne.

(13)

Cut-off grade utilized in 2025 reserves not less than 0.60 gram per tonne.

(14)

The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Gold reserves at December 31, 2025 were estimated at a gold price of $1,500 per ounce. Gold reserves at December 31, 2025 and 2024 were provided by Barrick, the operator of Pueblo Viejo.

(15)

Project is currently undeveloped. Gold reserves at December 31, 2025 were estimated at a gold price of $1,300 per ounce. Gold reserves at December 31, 2025 and 2024 were provided by the NuevaUnión joint venture.

(16)

Project is currently undeveloped. Gold reserves at December 31, 2025 were estimated at a gold price of $1,700 per ounce. Gold reserves at December 31, 2025 and 2024 were provided by the Norte Abierto joint venture.

(17)

Gold reserves related to the underground mine at December 31, 2025 were estimated at a gold price of $1,300 per ounce.

(18)

Cut-off grade utilized in 2025 reserves not less than 0.15 gram per tonne.

(19)

Cut-off grade utilized in 2025 reserves not less than 0.44 gram per tonne.

(20)

Cut-off grade utilized in 2025 reserves not less than 3.34 gram per tonne.

(21)

Gold reserves at December 31, 2025 were estimated at a gold price of $1,500 per ounce. Gold reserves at December 31, 2025 and 2024 were provided by Barrick, the operator of the NGM joint venture.

(22)

Sites were classified as held for sale as of December 31, 2024 and were divested as of December 31, 2025. Refer to Note 3 of the Consolidated Financial Statements for further information on the Company's divestitures.

(23)

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.

 

Gold Resources at December 31, 2025(1)(2)

 

 

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

 

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces(3)

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces(3)

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces(3)

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces(3)

(000)

Metallurgical

Recovery (3)

Lihir, Papua New Guinea

100

%

—

—

—

37,500

1.99

2,400

37,500

1.99

2,400

239,800

2.4

18,300

75

%

Wafi-Golpu Open Pit (4)

50

%

—

—

—

53,600

1.66

2,900

53,600

1.66

2,900

15,500

1.3

600

65

%

Wafi-Golpu Underground (5)

50

%

—

—

—

140,800

0.45

2,000

140,800

0.45

2,000

91,900

0.6

1,900

68

%

Total Wafi-Golpu, Papua New Guinea (6)

50

%

—

—

—

194,500

0.78

4,900

194,500

0.78

4,900

107,300

0.7

2,600

67

%

Cadia Underground

100

%

—

—

—

1,009,300

0.29

9,400

1,009,300

0.29

9,400

163,900

0.2

1,300

81

%

Cadia Stockpiles

100

%

28,500

0.30

300

—

—

—

28,500

0.30

300

—

—

—

64

%

Total Cadia, Australia

100

%

28,500

0.30

300

1,009,300

0.29

9,400

1,037,800

0.29

9,700

163,900

0.2

1,300

81

%

Tanami Open Pit

100

%

10,000

1.62

500

27,300

1.42

1,200

37,200

1.47

1,800

5,500

1.1

200

90

%

Tanami Underground

100

%

2,600

3.35

300

6,800

3.77

800

9,400

3.65

1,100

17,600

4.4

2,500

96

%

Total Tanami, Australia

100

%

12,500

1.98

800

34,100

1.89

2,100

46,600

1.91

2,900

23,100

3.6

2,700

94

%

Boddington, Australia

100

%

97,300

0.52

1,600

168,200

0.49

2,600

265,500

0.50

4,300

3,800

0.5

100

85

%

Ahafo South Open Pit

100

%

1,000

1.13

—

5,000

0.72

100

6,100

0.79

200

3,200

1.1

100

87

%

Ahafo South Underground

100

%

1,200

—

100

41,400

3.84

5,100

42,500

3.84

5,200

19,500

2.9

1,800

91

%

Total Ahafo South, Ghana

100

%

2,200

2.49

200

46,400

3.51

5,200

48,600

3.46

5,400

22,700

2.7

2,000

91

%

Ahafo North, Ghana

100

%

6,600

1.44

300

36,300

1.74

2,000

42,900

1.69

2,300

18,100

1.6

900

90

%

Total Ahafo Complex, Ghana

100

%

8,700

1.70

500

82,700

2.73

7,300

91,400

2.63

7,700

40,900

2.2

2,900

91

%

Merian, Suriname

75

%

5,200

0.96

200

49,600

1.05

1,700

54,800

1.05

1,800

79,700

0.8

2,100

90

%

Cerro Negro, Argentina

100

%

1,300

3.73

200

1,900

5.42

300

3,200

4.73

500

7,500

5.1

1,200

95

%

Pueblo Viejo, Dominican Republic (6)(7)

40

%

7,300

1.31

300

33,100

1.37

1,500

40,300

1.36

1,800

6,300

1.5

300

81

%

NuevaUnión, Chile (6)(8)

50

%

4,800

0.47

100

118,300

0.59

2,300

123,100

0.59

2,300

239,800

0.4

3,100

68

%

Norte Abierto, Chile (6)(9)

50

%

77,700

0.61

1,500

525,500

0.51

8,600

603,200

0.52

10,100

381,100

0.4

5,300

78

%

Conga, Peru (6)(10)

100

%

—

—

—

693,800

0.65

14,600

693,800

0.65

14,600

230,500

0.4

2,900

75

%

Yanacocha Open Pit

100

%

12,800

0.41

200

99,100

0.70

2,300

111,900

0.67

2,400

360,300

0.5

6,200

58

%

Yanacocha Underground

100

%

3,800

7.28

900

15,200

5.13

2,500

19,000

5.56

3,400

3,600

4.9

600

97

%

Total Yanacocha, Peru (11)

100

%

16,600

1.98

1,100

114,300

1.29

4,700

130,900

1.38

5,800

363,900

0.6

6,700

71

%

Peñasquito, Mexico

100

%

52,800

0.30

500

172,100

0.21

1,100

224,900

0.23

1,600

9,200

0.2

100

56

%

La Bikina, Mexico (6)

50

%

—

—

—

19,900

0.37

200

19,900

0.37

200

1,600

0.2

—

50

%

Galore Creek, Canada (6)(12)

50

%

212,800

0.29

2,000

385,600

0.22

2,700

598,400

0.25

4,700

118,900

0.2

700

75

%

Red Chris, Canada (13)

70

%

—

—

—

334,800

0.34

3,700

334,800

0.34

3,700

62,000

0.3

700

55

%

Brucejack, Canada

100

%

—

—

—

4,300

4.13

600

4,300

4.13

600

14,500

5.3

2,500

96

%

NGM Open Pit

38.5

%

2,900

1.04

100

178,000

0.64

3,600

180,900

0.64

3,700

63,200

0.8

1,500

75

%

NGM Underground

38.5

%

1,400

8.83

400

21,900

6.34

4,500

23,400

6.50

4,900

25,600

6.9

5,700

82

%

Total NGM, Nevada (14)

38.5

%

4,300

3.61

500

199,900

1.26

8,100

204,300

1.31

8,600

88,900

2.5

7,300

80

%

Total Gold

 

529,900

0.56

9,500

4,179,300

0.59

78,700

4,709,300

0.58

88,100

2,182,600

0.9

60,600

78

%

 

Gold Resources (1)(2) - December 31, 2024

 

 

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

 

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces(3)

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces(3)

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces(3)

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces(3)

(000)

Metallurgical

Recovery (3)

Namosi, Fiji

73.24

%

—

—

—

105,500

0.22

700

105,500

0.22

700

1,346,900

0.1

4,300

72

%

Lihir, Papua New Guinea

100

%

—

—

—

44,600

1.97

2,800

44,600

1.97

2,800

227,400

2.4

17,600

75

%

Wafi-Golpu Open Pit

50

%

—

—

—

53,600

1.66

2,900

53,600

1.66

2,900

15,500

1.3

600

65

%

Wafi-Golpu Underground

50

%

—

—

—

140,800

0.45

2,000

140,800

0.45

2,000

91,900

0.6

1,900

68

%

Total Wafi-Golpu, Papua New

Guinea (6)

50

%

—

—

—

194,500

0.78

4,900

194,500

0.78

4,900

107,300

0.7

2,600

67

%

Cadia Underground

100

%

—

—

—

1,245,100

0.36

14,200

1,245,100

0.36

14,200

549,400

0.3

4,800

81

%

Cadia Open Pit

100

%

30,800

0.30

300

—

—

—

30,800

0.30

300

11,000

0.7

200

65

%

Total Cadia, Australia

100

%

30,800

0.30

300

1,245,100

0.36

14,200

1,275,900

0.35

14,500

560,400

0.3

5,000

81

%

Tanami Open Pit

100

%

9,700

1.65

500

26,500

1.45

1,200

36,200

1.50

1,700

5,300

1.1

200

90

%

Tanami Underground

100

%

2,800

3.22

300

6,600

3.80

800

9,300

3.63

1,100

17,200

4.4

2,400

97

%

Total Tanami, Australia

100

%

12,500

1.99

800

33,000

1.92

2,000

45,500

1.94

2,800

22,500

3.6

2,600

94

%

Boddington, Australia

100

%

90,600

0.55

1,600

154,100

0.53

2,600

244,700

0.54

4,200

3,500

0.6

100

84

%

Ahafo South Open Pit

100

%

3,900

1.13

100

6,500

0.83

200

10,400

0.95

300

3,500

1.2

100

85

%

Ahafo South Underground

100

%

700

3.85

100

27,100

3.96

3,400

27,800

3.95

3,500

11,500

3.1

1,200

91

%

Total Ahafo South, Ghana

100

%

4,700

1.56

200

33,500

3.35

3,600

38,200

3.13

3,800

15,000

2.7

1,300

91

%

Ahafo North, Ghana

100

%

6,900

1.41

300

28,300

1.78

1,600

35,200

1.71

1,900

13,700

1.6

700

90

%

Total Ahafo Complex, Ghana

100

%

11,600

1.47

500

61,800

2.64

5,200

73,400

2.45

5,700

28,700

2.2

2,000

91

%

Merian, Suriname

75

%

5,800

1.03

200

58,600

1.08

2,000

64,500

1.08

2,200

70,000

0.9

2,000

90

%

Cerro Negro, Argentina

100

%

1,300

3.77

200

1,900

5.65

300

3,200

4.88

500

7,600

4.8

1,200

94

%

Pueblo Viejo, Dominican Republic (6)(7)

40

%

8,200

1.39

400

38,200

1.44

1,800

46,400

1.43

2,100

5,000

1.6

300

88

%

NuevaUnión, Chile (6)(8)

50

%

4,800

0.47

100

118,300

0.59

2,300

123,100

0.59

2,300

239,800

0.4

3,100

68

%

Norte Abierto, Chile (6)(9)

50

%

77,200

0.61

1,500

596,900

0.49

9,300

674,200

0.50

10,800

369,600

0.4

4,400

76

%

Conga, Peru (6)

100

%

—

—

—

693,800

0.65

14,600

693,800

0.65

14,600

230,500

0.4

2,900

75

%

Yanacocha Open Pit

100

%

16,600

0.41

200

109,200

0.40

1,400

125,700

0.40

1,600

287,200

0.6

5,100

66

%

Yanacocha Underground

100

%

500

4.07

100

6,200

4.70

900

6,700

4.65

1,000

3,400

5.0

500

97

%

Total Yanacocha, Peru

100

%

17,100

0.52

300

115,400

0.63

2,300

132,500

0.62

2,600

290,700

0.6

5,600

72

%

Peñasquito, Mexico

100

%

48,200

0.30

500

163,100

0.22

1,100

211,300

0.24

1,600

21,100

0.2

100

57

%

La Bikina, Mexico (6)

50

%

—

—

—

19,900

0.37

200

19,900

0.37

200

1,600

0.2

—

50

%

Galore Creek, Canada (6)(12)

50

%

212,800

0.29

2,000

385,600

0.22

2,700

598,400

0.25

4,700

118,900

0.2

700

75

%

Red Chris, Canada

70

%

—

—

—

335,100

0.34

3,700

335,100

0.34

3,700

62,100

0.3

700

55

%

Brucejack, Canada

100

%

—

—

—

4,300

4.68

600

4,300

4.68

600

16,600

5.8

3,100

96

%

NGM Open Pit

38.5

%

3,700

1.24

100

158,500

0.74

3,800

162,200

0.76

4,000

56,700

0.9

1,600

72

%

NGM Underground

38.5

%

200

23.55

200

21,500

6.34

4,400

21,800

6.52

4,600

25,100

6.4

5,200

87

%

Total NGM, United States (14)

38.5

%

3,900

2.51

300

180,000

1.41

8,200

183,900

1.44

8,500

81,800

2.6

6,700

82

%

Held for sale (15)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CC&V, United States

100

%

20,300

0.53

300

26,500

0.48

400

46,700

0.50

800

71,400

0.4

900

51

%

Musselwhite, Canada

100

%

1,500

4.21

200

2,300

4.10

300

3,800

4.15

500

1,900

5.0

300

96

%

Porcupine Underground

100

%

—

—

—

1,000

7.70

300

1,100

7.59

300

1,900

7.8

500

92

%

Porcupine Open Pit

100

%

—

—

—

75,600

1.51

3,700

75,600

1.51

3,700

65,900

1.4

2,900

92

%

Total Porcupine, Canada

100

%

—

—

—

76,600

1.59

3,900

76,600

1.59

3,900

67,900

1.5

3,400

92

%

Éléonore, Canada

100

%

400

4.94

100

2,900

4.11

400

3,300

4.21

400

2,400

4.6

400

92

%

Coffee, Canada (6)

100

%

900

2.14

100

49,300

1.26

2,000

50,200

1.28

2,100

6,700

1.0

200

81

%

Akyem, Ghana

100

%

800

0.73

—

9,700

3.83

1,200

10,600

3.58

1,200

5,500

3.0

500

92

%

Total Gold

 

548,800

0.53

9,300

4,717,000

0.59

90,100

5,265,900

0.59

99,400

3,967,800

0.6

70,600

78

%

____________________________

(1)

Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding.

(2)

At December 31, 2025 and 2024, gold resources at sites for which Newmont is the operator were estimated at a gold price of $2,300 and $2,000 per ounce, respectively, unless otherwise noted. Resources provided by other operators may use pricing that differs. Tonnage amounts have been 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 100,000.

(4)

Project is currently undeveloped. Gold resources at December 31, 2025 were estimated at a gold price of $1,400 per ounce.

(5)

Project is currently undeveloped. Gold resources at December 31, 2025 were estimated at a gold price of $1,300 per ounce.

(6)

Included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.

(7)

The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Gold resources at December 31, 2025 were estimated at a gold price of $2,000 per ounce. Gold resources at December 31, 2025 and 2024 were provided by Barrick, the operator of Pueblo Viejo.

(8)

Project is currently undeveloped. Gold resources at December 31, 2025 were estimated at a gold price of $1,300 per ounce. Gold resources at December 31, 2025 and 2024 were provided by the NuevaUnión joint venture.

(9)

Project is currently undeveloped. Gold resources at December 31, 2025 were estimated at a gold price of $2,000 per ounce. Gold resources at December 31, 2025 and 2024 were provided by the Norte Abierto joint venture.

(10)

Gold resources at December 31, 2025 were estimated at a gold price of $1,400 per ounce.

(11)

Gold resources related to the Yanacocha Sulfides project at December 31, 2025 were estimated at a gold price of $1,400 per ounce.

(12)

Project is currently undeveloped. Resource estimates provided by Teck Resources, the Galore Creek joint venture partner.

(13)

Gold resources related to the underground mine at December 31, 2025 were estimated at a gold price of $1,400 per ounce.

(14)

Gold resources at December 31, 2025 were estimated at a gold price of $2,000 per ounce. Gold resources at December 31, 2025 and 2024 were provided by Barrick, the operator of the NGM joint venture.

(15)

Sites were classified as held for sale as of December 31, 2024 and were divested as of December 31, 2025. Refer to Note 3 of the Consolidated Financial Statements for further information on the Company's divestitures.

 

Copper Reserves (1)

December 31, 2025

December 31, 2024

 

 

Proven Reserves

Probable Reserves

Proven and Probable Reserves

 

Proven and Probable Reserves

Deposits/Districts

Newmont Share

Tonnage (2)

(000 tonnes)

Grade

(Cu %)

Tonnes (3) (000)

Tonnage (2)

(000 tonnes)

Grade

(Cu %)

Tonnes (3) (000)

Tonnage (2)

(000 tonnes)

Grade

(Cu %)

Tonnes (3) (000)

Metallurgical Recovery (3)

Tonnage (2)

(000 tonnes)

Grade

(Cu %)

Tonnes (3) (000)

Wafi-Golpu, Papua New Guinea (4)(5)

50

%

—

—

%

—

194,500

1.20

%

2,300

194,500

1.20

%

2,300

95

%

194,500

1.20

%

2,300

Cadia, Australia (6)

100

%

—

—

%

—

1,007,600

0.29

%

2,900

1,007,600

0.29

%

2,900

87

%

1,051,800

0.29

%

3,100

Boddington, Australia (7)

100

%

271,000

0.09

%

200

274,100

0.10

%

300

545,100

0.09

%

500

81

%

559,800

0.09

%

500

NuevaUnión, Chile (5)(8)

50

%

—

—

%

—

1,118,000

0.40

%

4,400

1,118,000

0.40

%

4,400

88

%

1,118,000

0.40

%

4,400

Norte Abierto, Chile (5)(9)

50

%

—

—

%

—

521,100

0.24

%

1,200

521,100

0.24

%

1,200

79

%

598,800

0.22

%

1,300

Yanacocha, Peru

100

%

—

—

%

—

—

—

%

—

—

—

%

—

—

%

111,100

0.63

%

700

Red Chris, Canada (10)

70

%

2,600

0.41

%

—

178,900

0.52

%

900

181,500

0.52

%

900

84

%

186,400

0.52

%

1,000

NGM, United States (11)

38.5

%

3,700

0.15

%

—

76,500

0.18

%

100

80,200

0.18

%

100

68

%

75,400

0.18

%

100

Total Copper

 

277,300

0.09

%

200

3,370,700

0.36

%

12,300

3,648,000

0.34

%

12,500

87

%

3,895,800

0.35

%

13,500

____________________________

(1)

At December 31, 2025 and 2024, copper reserves at sites for which Newmont is the operator were estimated at a copper price of $3.75 and $3.50 per pound, respectively, unless otherwise noted. Reserves provided by other operators may use pricing that differs. Amounts presented may not recalculate in total due to rounding.

(2)

Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.

(3)

Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.

(4)

Project is currently undeveloped. Copper reserves at December 31, 2025 were estimated at a copper price of $3.00 per pound.

(5)

Included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.

(6)

The net smelter return value utilized in 2025 reserves not less than $24.62 per tonne.

(7)

The net smelter return value utilized in 2025 reserves not less than $18.24 per tonne.

(8)

Project is currently undeveloped. Copper reserves at December 31, 2025 were estimated at a copper price of $3.00 per pound. Copper reserves at December 31, 2025 and 2024 were provided by the NuevaUnión joint venture.

(9)

Project is currently undeveloped. Copper reserves at December 31, 2025 were estimated at a copper price of $3.50. Copper reserves at December 31, 2025 and 2024 were provided by the Norte Abierto joint venture.

(10)

Copper reserves related to the underground mine at December 31, 2025 were estimated at a copper price of $3.00 per pound.

(11)

Copper cut-off grade varies with gold and silver credits. Copper reserves at December 31, 2025 were estimated at a copper price of $3.25 per ounce. Copper reserves at December 31, 2025 and 2024 were provided by Barrick, the operator of the NGM joint venture.

 

Copper Resources (1)(2) - December 31, 2025

 

 

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

 

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(Cu%)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Cu%)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Cu%)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Cu%)

Tonnes (3)

(000)

Metallurgical

Recovery (3)

Wafi-Golpu, Papua New Guinea (4)(5)

50

%

—

—

%

—

140,800

0.73

%

1,000

140,800

0.73

%

1,000

91,900

0.7

%

600

95

%

Cadia, Australia

100

%

28,500

0.13

%

—

1,009,300

0.25

%

2,600

1,037,800

0.25

%

2,600

163,900

0.2

%

300

87

%

Boddington, Australia

100

%

97,300

0.12

%

100

168,200

0.11

%

200

265,500

0.11

%

300

3,800

0.1

%

—

82

%

NuevaUnión, Chile (4)(6)

50

%

164,300

0.19

%

300

349,900

0.34

%

1,200

514,100

0.30

%

1,500

602,200

0.4

%

2,300

89

%

Norte Abierto, Chile (4)(7)

50

%

58,000

0.23

%

100

479,900

0.20

%

900

537,900

0.20

%

1,100

373,300

0.2

%

800

86

%

Conga, Peru (4)(8)

100

%

—

—

%

—

693,800

0.26

%

1,800

693,800

0.26

%

1,800

230,500

0.2

%

400

84

%

Yanacocha, Peru (9)

100

%

3,700

0.29

%

—

114,100

0.61

%

700

117,800

0.60

%

700

134,900

0.4

%

500

83

%

Galore Creek, Canada (4)(10)

50

%

212,800

0.44

%

900

385,600

0.47

%

1,800

598,400

0.46

%

2,800

118,900

0.3

%

300

93

%

Red Chris, Canada (11)

70

%

—

—

%

—

334,800

0.34

%

1,100

334,800

0.34

%

1,100

62,000

0.4

%

200

81

%

NGM, United States (12)

38.5

%

—

—

%

—

130,600

0.16

%

200

130,600

0.16

%

200

12,100

0.1

%

—

69

%

Total Copper

 

564,600

0.27

%

1,500

3,806,800

0.30

%

11,600

4,371,500

0.30

%

13,100

1,793,400

0.3

%

5,600

88

%

 

Copper Resources at December 31, 2024 (1)(2)

 

 

Measured Resources

Indicated Resources

Measured and Indicated Resources

Inferred Resources

 

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(Cu%)

Tonnes (3) (000)

Tonnage

(000 tonnes)

Grade

(Cu%)

Tonnes (3) (000)

Tonnage

(000 tonnes)

Grade

(Cu%)

Tonnoes (3) (000)

Tonnage

(000 tonnes)

Grade

(Cu%)

Tonnes (3)

(000)

Metallurgical

Recovery (3)

Namosi Open Pit

73.24

%

—

—

%

—

105,500

0.61

%

600

105,500

0.61

%

600

1,346,900

0.3

%

4,300

84

%

Namosi Underground

73.24

%

—

—

%

—

—

—

%

—

—

—

%

—

209,900

0.4

%

900

92

%

Total Namosi, Fiji (4)

73.24

%

—

—

%

—

105,500

0.61

%

600

105,500

0.61

%

600

1,556,800

0.3

%

5,200

85

%

Wafi-Golpu, Papua New Guinea (4)

50

%

—

—

%

—

140,800

0.73

%

1,000

140,800

0.73

%

1,000

91,900

0.7

%

600

95

%

Cadia, Australia

100

%

30,800

0.13

%

—

1,245,100

0.25

%

3,200

1,275,900

0.25

%

3,200

560,400

0.2

%

1,000

86

%

Boddington, Australia

100

%

90,600

0.12

%

100

154,100

0.11

%

200

244,700

0.12

%

300

3,500

0.1

%

—

83

%

NuevaUnión, Chile (4)(6)

50

%

164,300

0.19

%

300

349,900

0.34

%

1,200

514,100

0.30

%

1,500

602,200

0.4

%

2,300

89

%

Norte Abierto, Chile (4)(7)

50

%

57,600

0.24

%

100

551,300

0.19

%

1,100

608,900

0.20

%

1,200

361,800

0.2

%

700

90

%

Conga, Peru (4)

100

%

—

—

%

—

693,800

0.26

%

1,800

693,800

0.26

%

1,800

230,500

0.2

%

400

84

%

Yanacocha, Peru

100

%

1,500

1.02

%

—

99,800

0.36

%

400

101,300

0.37

%

400

39,700

0.4

%

100

81

%

Galore Creek, Canada (4)(10)

50

%

212,800

0.44

%

900

385,600

0.47

%

1,800

598,400

0.46

%

2,800

118,900

0.3

%

300

93

%

Red Chris, Canada

70

%

—

—

%

—

335,100

0.34

%

1,100

335,100

0.34

%

1,100

62,100

0.4

%

200

81

%

NGM, United States (12)

38.5

%

—

—

%

—

113,700

0.17

%

200

113,700

0.17

%

200

11,100

0.2

%

—

67

%

Total Copper

 

557,600

0.28

%

1,600

4,174,600

0.30

%

12,600

4,732,200

0.30

%

14,100

3,638,800

0.3

%

11,000

87

%

____________________________

(1)

Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding.

(2)

At December 31, 2025 and 2024, copper resources at sites in which Newmont is the operator were estimated at a copper price of $4.25 and $4.00 per pound, respectively, unless otherwise noted. Resources provided by other operators may use pricing that differs. Tonnage amounts have been rounded to the nearest 100,000.

(3)

Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.

(4)

Included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.

(5)

Project is currently undeveloped. Copper resources related to the open pit mine at December 31, 2025 were estimated at a copper price of $3.40 per pound.

(6)

Project is currently undeveloped. Copper resources at December 31, 2025 were estimated at a copper price of $3.00 per pound. Copper resources at December 31, 2025 and 2024 were provided by the NuevaUnión joint venture.

(7)

Project is currently undeveloped. Copper resources at December 31, 2025 were estimated at a copper price of $4.00 per pound. Copper resources at December 31, 2025 and 2024 were provided by the Norte Abierto joint venture.

(8)

Copper resources at December 31, 2025 were estimated at a copper price of $3.50 per pound.

(9)

Copper resources related to the Yanacocha Sulfides project at December 31, 2025 were estimated at a copper price of $3.25 per pound.

(10)

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

(11)

Copper resources related to the underground mine at December 31, 2025 were estimated at a copper price of $3.40 per pound.

(12)

Copper resources at December 31, 2025 were estimated at a copper price of $4.50 per pound. Copper resources at December 31, 2025 and 2024 were provided by Barrick, the operator of the NGM joint venture.

 

Silver Reserves (1)

December 31, 2025

December 31, 2024

 

 

Proven Reserves

Probable Reserves

Proven and Probable Reserves

 

Proven and Probable Reserves

Deposits/Districts

Newmont Share

Tonnage (2)

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Tonnage (2)

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Tonnage (2)

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Metallurgical

Recovery (3)

Tonnage (2)

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Cadia, Australia (4)

100

%

—

—

—

1,007,600

0.67

21,800

1,007,600

0.67

21,800

67

%

1,051,800

0.67

22,800

Cerro Negro, Argentina

100

%

2,200

84.41

5,900

6,800

66.20

14,400

9,000

70.62

20,300

74

%

9,300

71.58

21,400

Pueblo Viejo Open Pits

40

%

35,800

12.01

13,800

51,300

11.58

19,100

87,100

11.76

32,900

53

%

81,700

11.86

31,200

Pueblo Viejo Stockpiles (5)

40

%

—

—

—

36,900

13.59

16,100

36,900

13.59

16,100

53

%

38,800

14.22

17,700

Total Pueblo Viejo, Dominican Republic (6)(7)

40

%

35,800

12.01

13,800

88,200

12.42

35,200

123,900

12.30

49,000

53

%

120,500

12.62

48,900

NuevaUnión, Chile (7)(8)

50

%

—

—

—

1,118,000

1.31

47,200

1,118,000

1.31

47,200

66

%

1,118,000

1.31

47,200

Norte Abierto, Chile (7)(9)

50

%

—

—

—

521,100

1.61

27,000

521,100

1.61

27,000

76

%

598,800

1.52

29,300

Yanacocha, Peru

100

%

—

—

—

68,300

8.82

19,400

68,300

8.82

19,400

5

%

172,300

15.05

83,400

Peñasquito Open Pits

100

%

79,500

34.50

88,200

114,800

31.09

114,700

194,300

32.49

202,900

83

%

224,700

31.09

224,600

Peñasquito Stockpiles (5)

100

%

4,900

47.37

7,500

21,800

27.90

19,600

26,700

31.48

27,000

76

%

32,000

27.89

28,700

Total Peñasquito, Mexico

100

%

84,400

35.25

95,700

136,600

30.58

134,300

221,000

32.37

230,000

82

%

256,600

30.70

253,300

Brucejack, Canada

100

%

—

—

—

13,500

29.39

12,800

13,500

29.39

12,800

83

%

8,600

34.36

9,500

NGM Open Pit

38.5

%

—

—

—

66,200

6.54

13,900

66,200

6.54

13,900

38

%

54,600

7.78

13,700

NGM Stockpiles (5)

38.5

%

2,700

7.89

700

—

—

—

2,700

7.89

700

38

%

3,200

7.87

800

Total NGM, United States (10)

38.5

%

2,700

7.89

700

66,200

6.54

13,900

68,900

6.59

14,600

38

%

57,900

7.78

14,500

Total Silver

 

125,000

28.88

116,000

3,026,200

3.35

326,000

3,151,200

4.36

442,000

71

%

3,393,800

4.86

530,200

____________________________

(1)

At December 31, 2025 and 2024, silver reserves at sites for which Newmont is the operator were estimated at a silver price of $25 and $20 per ounce, respectively, unless otherwise noted. Reserves provided by other operators may use pricing that differs. Amounts presented may not recalculate in total due to rounding.

(2)

Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to 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 100,000.

(4)

The net smelter return value utilized in 2025 reserves not less than $24.62 per tonne.

(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)

The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Silver reserves at December 31, 2025 were estimated at a silver price of $21 per ounce. Silver reserves at December 31, 2025 and 2024 were provided by Barrick, the operator of Pueblo Viejo.

(7)

Included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.

(8)

Project is currently undeveloped. Silver reserves at December 31, 2025 were estimated at a silver price of $18 per ounce. Silver reserves at December 31, 2025 and 2024 were provided by the NuevaUnión joint venture.

(9)

Project is currently undeveloped. Silver reserves at December 31, 2025 were estimated at a silver price of $25 per ounce. Silver reserves at December 31, 2025 and 2024 were provided by the Norte Abierto joint venture.

(10)

Silver cut-off grade varies with gold and copper credits. Silver reserves at December 31, 2025 were estimated at a silver price of $21 per ounce. Silver reserves at December 31, 2025 and 2024 were provided by Barrick, the operator of the NGM joint venture.

 

Silver Resources (1)(2) - December 31, 2025

 

 

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

 

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Metallurgical

Recovery (3)

Wafi-Golpu, Papua New Guinea (4)

50

%

—

—

—

53,600

4.42

7,600

53,600

4.42

7,600

15,500

4.5

2,200

45

%

Cadia, Australia

100

%

—

—

—

1,009,300

0.62

20,200

1,009,300

0.62

20,200

163,900

0.4

2,300

68

%

Pueblo Viejo, Dominican Republic (4)(5)

40

%

7,300

6.95

1,600

33,100

7.79

8,300

40,300

7.64

9,900

6,300

8.3

1,700

53

%

NuevaUnión, Chile (4)(6)

50

%

164,300

0.96

5,100

349,900

1.19

13,400

514,100

1.12

18,400

602,200

1.2

22,500

66

%

Norte Abierto, Chile (4)(7)

50

%

77,700

1.21

3,000

525,500

1.07

18,100

603,200

1.09

21,100

381,100

1.0

12,600

79

%

Peñasquito, Mexico

100

%

52,800

28.32

48,100

172,100

25.28

139,900

224,900

26.00

188,000

9,200

24.2

7,100

80

%

La Bikina, Mexico (4)

50

%

—

—

—

19,900

13.99

9,000

19,900

13.99

9,000

1,600

11.0

500

25

%

Cerro Negro Underground

100

%

100

72.50

200

700

57.19

1,300

800

59.07

1,500

7,200

28.3

6,500

75

%

Cerro Negro Open Pit

100

%

1,200

6.76

300

1,200

6.62

300

2,400

6.70

500

300

6.7

100

71

%

Total Cerro Negro, Argentina

100

%

1,300

11.74

500

1,900

25.50

1,600

3,200

19.88

2,000

7,500

27.4

6,600

75

%

Conga, Peru (4)(8)

100

%

—

—

—

693,800

2.06

45,900

693,800

2.06

45,900

175,000

1.1

6,300

70

%

Yanacocha Open Pit

100

%

15,600

7.91

3,900

96,300

19.80

61,300

111,900

18.14

65,200

89,500

14.3

41,300

55

%

Yanacocha Leach Pad (9)

100

%

—

—

—

57,100

2.03

3,700

57,100

2.03

3,700

11,600

4.4

1,600

3

%

Yanacocha Underground

100

%

3,700

0.21

—

14,900

15.49

7,400

18,600

12.45

7,400

3,600

38.4

4,400

83

%

Total Yanacocha, Peru (10)

100

%

19,300

6.41

4,000

168,200

13.39

72,400

187,500

12.67

76,400

104,700

14.1

47,300

55

%

Galore Creek, Canada (4)(11)

50

%

212,800

4.08

27,900

385,600

4.77

59,100

598,400

4.52

87,000

118,900

2.6

9,900

73

%

Brucejack, Canada

100

%

—

—

—

4,300

15.90

2,200

4,300

15.90

2,200

14,500

11.7

5,500

82

%

NGM, United States (12)

38.5

%

—

—

—

121,000

5.22

20,300

121,000

5.22

20,300

10,100

5.4

1,800

38

%

Total Silver

 

535,500

5.24

90,200

3,538,100

3.67

418,000

4,073,600

3.88

508,200

1,610,400

2.4

126,400

68

%

 

Silver Resources (1)(2) - December 31, 2024

 

 

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

 

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Metallurgical

Recovery (3)

Wafi-Golpu, Papua New Guinea (4)

50

%

—

—

—

53,600

4.42

7,600

53,600

4.42

7,600

15,500

4.5

2,200

45

%

Cadia, Australia

100

%

—

—

—

1,245,100

0.65

26,100

1,245,100

0.65

26,100

549,400

0.4

7,900

67

%

Pueblo Viejo, Dominican Republic (4)(5)

40

%

8,200

7.69

2,000

38,200

7.82

9,600

46,400

7.80

11,600

5,000

6.8

1,100

71

%

NuevaUnión, Chile (4)(6)

50

%

164,300

0.96

5,100

349,900

1.19

13,400

514,100

1.12

18,400

602,200

1.2

22,500

66

%

Norte Abierto, Chile (4)(7)

50

%

77,200

1.20

3,000

596,900

1.07

20,600

674,200

1.09

23,500

369,600

1.0

11,300

78

%

Peñasquito, Mexico

100

%

48,200

27.22

42,200

163,100

24.84

130,300

211,300

25.39

172,400

21,100

25.4

17,200

80

%

La Bikina, Mexico (4)

50

%

—

—

—

19,900

13.99

9,000

19,900

13.99

9,000

1,600

11.0

500

25

%

Cerro Negro Underground

100

%

100

70.12

300

700

61.42

1,400

900

62.67

1,700

7,300

26.5

6,200

76

%

Cerro Negro Open Pit

100

%

1,200

6.76

300

1,200

6.62

300

2,400

6.70

500

300

6.7

100

71

%

Total Cerro Negro, Argentina

100

%

1,300

12.61

500

1,900

27.54

1,700

3,200

21.43

2,200

7,600

25.7

6,300

75

%

Conga, Peru (4)

100

%

—

—

—

693,800

2.06

45,900

693,800

2.06

45,900

175,000

1.1

6,300

70

%

Yanacocha Open Pit

100

%

16,300

6.71

3,500

103,900

10.16

33,900

120,200

9.69

37,400

26,300

13.4

11,400

43

%

Yanacocha Leach Pad

100

%

—

—

—

—

—

—

—

—

—

62,700

2.2

4,500

4

%

Yanacocha Underground

100

%

500

0.37

—

6,200

37.02

7,300

6,700

34.23

7,400

3,400

40.4

4,400

83

%

Total Yanacocha, Peru

100

%

16,800

6.52

3,500

110,100

11.66

41,300

126,900

10.98

44,800

92,400

6.8

20,300

47

%

Galore Creek, Canada (4)(11)

50

%

212,800

4.08

27,900

385,600

4.77

59,100

598,400

4.52

87,000

118,900

2.6

9,900

73

%

Brucejack, Canada

100

%

—

—

—

4,300

19.68

2,700

4,300

19.68

2,700

16,600

11.6

6,200

82

%

NGM, United States (12)

38.5

%

—

—

—

98,300

5.64

17,800

98,300

5.64

17,800

10,300

4.2

1,400

38

%

Total Silver

 

528,900

4.96

84,300

3,760,700

3.18

385,000

4,289,600

3.40

469,200

1,985,100

1.8

113,200

69

%

___________________________

(1)

Resources are reported exclusive of reserves. Amounts presented may not recalculate in total due to rounding.

(2)

At December 31, 2025 and 2024, silver resources at sites in which Newmont is the operator were estimated at a silver price of $28 and $23 per ounce, respectively, unless otherwise noted. Resources provided by other operators may use pricing that differs. Tonnage amounts have been 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 100,000.

(4)

Included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.

(5)

Silver resources at December 31, 2025 were estimated at a silver price of $25 per ounce. Silver resources at December 31, 2025 and 2024 were provided by Barrick, the operator of the Pueblo Viejo.

(6)

Project is currently undeveloped. Silver resources at December 31, 2025 were estimated at a silver price of $18 per ounce. Silver resources at December 31, 2025 and 2024 were provided by the NuevaUnión joint venture.

(7)

Project is currently undeveloped. Silver resources at December 31, 2025 were estimated at a silver price of $23 per ounce. Silver resources at December 31, 2025 and 2024 were provided by the Norte Abierto joint venture.

(8)

Silver resources at December 31, 2025 were estimated at a silver price of $26 per ounce.

(9)

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

(10)

Silver resources related to the Yanacocha Sulfides project at December 31, 2025 were estimated at a silver price of $23 per ounce.

(11)

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

(12)

Silver resources at December 31, 2025 were estimated at a silver price of $25 per ounce. Silver resources at December 31, 2025 and 2024 were provided by Barrick, the operator of the NGM joint venture.

 

Lead Reserves (1)

December 31, 2025

December 31, 2024

 

 

Proven Reserves

Probable Reserves

Proven and Probable Reserves

 

Proven and Probable Reserves

Deposits/Districts

Newmont

Share

Tonnage (2)

(000 tonnes)

Grade

(Pb %)

Tonnes (3)

(000)

Tonnage (2)

(000 tonnes)

Grade

(Pb %)

Tonnes (3)

(000)

Tonnage (2)

(000 tonnes)

Grade

(Pb %)

Tonnes (3)

(000)

Metallurgical

Recovery (3)

Tonnage (2)

(000 tonnes)

Grade

(Pb %)

Tonnes (3)

(000)

Peñasquito, Mexico

100

%

84,400

0.34

%

300

136,600

0.28

%

400

221,000

0.30

%

700

75

%

256,600

0.31

%

800

Total Lead

 

84,400

0.34

%

300

136,600

0.28

%

400

221,000

0.30

%

700

75

%

256,600

0.31

%

800

____________________________

(1)

At December 31, 2025 and 2024, lead reserves were estimated at a lead price of $0.90 per pound. Amounts presented may not recalculate in total due to rounding.

(2)

Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.

(3)

Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.

 

Lead Resources (1)(2) - December 31, 2025

 

 

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

 

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(Pb %)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Pb %)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Pb %)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Pb %)

Tonnes (3)

(000)

Metallurgical

Recovery (3)

Peñasquito, Mexico

100

%

52,800

0.26

%

100

172,100

0.24

%

400

224,900

0.24

%

500

9,200

0.2

%

—

73

%

Total Lead

 

52,800

0.26

%

100

172,100

0.24

%

400

224,900

0.24

%

500

9,200

0.2

%

—

73

%

 

Lead Resources (1)(2) - December 31, 2024

 

 

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

 

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(Pb %)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Pb %)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Pb %)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Pb %)

Tonnes (3)

(000)

Metallurgical

Recovery (3)

Peñasquito, Mexico

100

%

48,200

0.25

%

100

163,100

0.23

%

400

211,300

0.23

%

500

21,100

0.2

%

—

73

%

Total Lead

 

48,200

0.25

%

100

163,100

0.23

%

400

211,300

0.23

%

500

21,100

0.2

%

—

73

%

____________________________

(1)

Resources are reported exclusive of reserves.

(2)

At December 31, 2025 and 2024, lead resources were estimated at a lead price of $1.00 per pound. Tonnage amounts have been rounded to the nearest 100,000.

(3)

Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.

 

Zinc Reserves (1)

December 31, 2025

December 31, 2024

 

 

Proven Reserves

Probable Reserves

Proven and Probable Reserves

 

Proven and Probable Reserves

Deposits/Districts

Newmont

Share

Tonnage (2)

(000 tonnes)

Grade

(Zn %)

Tonnes (3)

(000)

Tonnage (2)

(000 tonnes)

Grade

(Zn %)

Tonnes (3)

(000)

Tonnage (2)

(000 tonnes)

Grade

(Zn %)

Tonnes (3)

(000)

Metallurgical

Recovery (3)

Tonnage (2)

(000 tonnes)

Grade

(Zn %)

Tonnes (3)

(000)

Peñasquito Open Pits, Mexico

100%

79,500

0.77%

600

114,800

0.60%

700

194,300

0.67%

1,300

83%

224,700

0.69%

1,500

Peñasquito Stockpiles, Mexico(4)

100%

4,900

1.25%

100

21,800

0.54%

100

26,700

0.67%

200

78%

32,000

0.58%

200

Total Zinc

 

84,400

0.80%

700

136,600

0.59%

800

221,000

0.67%

1,500

82%

256,600

0.68%

1,700

____________________________

(1)

At December 31, 2025 and 2024, zinc reserves were estimated at a zinc price of $1.20 per pound. Amounts presented may not recalculate in total due to rounding.

(2)

Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.

(3)

Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.

(4)

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 pounds exceed 100 million and are greater than 5% of the total site-reported reserves.

 

Zinc Resources (1)(2) - December 31, 2025

 

 

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

 

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(Zn %)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Zn %)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Zn %)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Zn %)

Tonnes (3)

(000)

Metallurgical

Recovery (3)

Peñasquito, Mexico

100

%

52,800

0.72

%

400

172,100

0.57

%

1,000

224,900

0.60

%

1,400

9,200

0.5

%

—

82

%

Total Zinc

 

52,800

0.72

%

400

172,100

0.57

%

1,000

224,900

0.60

%

1,400

9,200

0.5

%

—

82

%

 

Zinc Resources (1)(2) - December 31, 2024

 

 

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

 

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(Zn %)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Zn %)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Zn %)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Zn %)

Tonnes (3)

(000)

Metallurgical

Recovery (3)

Peñasquito, Mexico

100

%

48,200

0.69

%

300

163,100

0.55

%

900

211,300

0.59

%

1,200

21,100

0.6

%

100

81

%

Total Zinc

 

48,200

0.69

%

300

163,100

0.55

%

900

211,300

0.59

%

1,200

21,100

0.6

%

100

81

%

____________________________

(1)

Resources are reported exclusive of reserves.

(2)

At December 31, 2025 and 2024, zinc resources were estimated at a zinc price of $1.30 per pound. Tonnage amounts have been rounded to the nearest 100,000.

(3)

Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.

 

Molybdenum Reserves (1)

December 31, 2025

December 31, 2024

 

 

Proven Reserves

Probable Reserves

Proven and Probable Reserves

 

Proven and Probable Reserves

Deposits/Districts

Newmont

Share

Tonnage (2)

(000 tonnes)

Grade

(Mo %)

Tonnes (3)

(000)

Tonnage (2)

(000 tonnes)

Grade

(Mo %)

Tonnes (3)

(000)

Tonnage (2)

(000 tonnes)

Grade

(Mo %)

Tonnes (3)

(000)

Metallurgical

Recovery (3)

Tonnage (2)

(000 tonnes)

Grade

(Mo %)

Tonnes (3)

(000)

Cadia, Australia (4)

100

%

—

—

%

—

996,400

0.01

%

100

996,400

0.01

%

100

67

%

1,040,600

0.01

%

100

NuevaUnión, Chile (5)(6)

50

%

—

—

%

—

776,900

0.02

%

100

776,900

0.02

%

100

48

%

776,900

0.02

%

100

Total Molybdenum

 

—

—

%

—

1,773,300

0.01

%

200

1,773,300

0.01

%

200

56

%

1,817,500

0.01

%

200

____________________________

(1)

At December 31, 2025 and 2024, molybdenum reserves at sites for which Newmont is the operator were estimated at a molybdenum price of $13 per pound, unless otherwise noted. Amounts presented may not recalculate in total due to rounding.

(2)

Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to nearest 100,000.

(3)

Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.

(4)

The net smelter return value utilized in 2025 reserves not less than $25 per tonne.

(5)

Project is currently undeveloped. Molybdenum reserves at December 31, 2025 were estimated at a molybdenum price of $10 per pound. Molybdenum reserves at December 31, 2025 and 2024 were provided by the NuevaUnión joint venture.

(6)

Included in the non-operating segment Corporate and Other in Note 4 to the Consolidated Financial Statements.

 

Molybdenum Resources (1)(2) - December 31, 2025

 

 

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

 

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(Mo %)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Mo %)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Mo %)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Mo %)

Tonnes (3)

(000)

Metallurgical

Recovery (3)

Cadia, Australia

100

%

—

—

%

—

938,100

0.01

%

100

938,100

0.01

%

100

124,200

—

%

—

67

%

NuevaUnión, Chile (4)

50

%

159,500

0.01

%

—

231,500

0.01

%

—

391,000

0.01

%

—

362,300

—

%

—

52

%

Total Molybdenum

 

159,500

0.01

%

—

1,169,600

0.01

%

100

1,329,100

0.01

%

100

486,500

—

%

—

59

%

 

Molybdenum Resources (1)(2) - December 31, 2024

 

 

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

 

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(Mo %)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Mo %)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Mo %)

Tonnes (3)

(000)

Tonnage

(000 tonnes)

Grade

(Mo %)

Tonnes (3)

(000)

Metallurgical Recovery (3)

Cadia, Australia

100

%

—

—

%

—

1,173,900

0.01

%

100

1,173,900

0.01

%

100

509,600

—

%

—

72

%

NuevaUnión, Chile (4)

50

%

159,500

0.01

%

—

231,500

0.01

%

—

391,000

0.01

%

—

362,300

—

%

—

52

%

Total Molybdenum

 

159,500

0.01

%

—

1,405,400

0.01

%

100

1,564,900

0.01

%

100

872,000

—

%

100

62

%

____________________________

(1)

Resources are reported exclusive of reserves.

(2)

At December 31, 2025 and 2024, molybdenum resources at sites in which Newmont is the operator were estimated at a molybdenum price of $16 per pound, unless otherwise noted. Tonnage amounts have been rounded to the nearest 100,000.

(3)

Tonnes 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. Tonnes may not recalculate as they are rounded to the nearest 100,000.

(4)

Project is currently undeveloped and is included in Corporate and Other in Note 4 to the Consolidated Financial Statements. Molybdenum resources at December 31, 2025 were estimated at a molybdenum price of $10.00 per pound. Molybdenum resources at December 31, 2025 and 2024 were provided by the NuevaUnión joint venture.

About Newmont

Newmont is the world’s leading gold company and a producer of copper, zinc, lead, and silver. The company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. 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. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the company has been publicly traded since 1925. At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont’s sustainability strategy and initiatives, go to www.newmont.com.

Cautionary Statement Regarding Reserve and Resource Estimates:

The reserves stated herein were prepared in compliance with Subpart 1300 of Regulation S-K adopted by the United States Securities and Exchanges Commission ("the SEC") and represent the amount of gold, copper, silver, lead, zinc, and molybdenum estimated, at December 31, 2025 or December 31, 2024, as applicable, could 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 at a minimum, a pre-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 (or our joint venture partners) 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 (or our joint venture partners') current mine plans. Reserves in this presentation are aggregated from the proven and probable classes. The term “Proven reserves” used in the tables of the appendix 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, or molybdenum extraction and type of milling or leaching facilities available.

Estimates of Proven and Probable reserves are subject to considerable uncertainty. Such estimates are, or will be, to a large extent, based on the prices of gold, silver, copper, zinc, lead, and molybdenum and interpretations of geologic data obtained from drill holes and other exploration techniques, which data may not necessarily be indicative of future results. If our reserve estimations are required to be revised using significantly lower gold, silver, zinc, copper, lead, and molybdenum prices as a result of a decrease in commodity prices, increases in operating costs, reductions in metallurgical recovery or other modifying factors, this could result in material write-downs of our investment in mining properties, goodwill and increased amortization, reclamation and closure charges. Producers use pre-feasibility and feasibility studies for undeveloped ore bodies to derive estimates of capital and operating costs based upon anticipated tonnage and grades of ore to be mined and processed, the predicted configuration of the ore body, expected recovery rates of metals from the ore, the costs of comparable facilities, the costs of operating and processing equipment and other factors. Actual operating and capital cost and economic returns on projects may differ significantly from original estimates. Further, it may take many years from the initial phases of exploration until commencement of production, during which time, the economic feasibility of production may change. 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 of all of the Inferred resource exists or is economically or legally mineable. The Company cannot be certain that any part or parts of the resource will ever be converted into reserves. In addition, if the price of gold, silver, copper, zinc, lead, or molybdenum declines from recent levels, if production costs increase, grades decline, recovery rates decrease or if applicable laws and regulations are adversely changed, the indicated level of recovery may not be realized or mineral reserves or resources might not be mined or processed profitably. If we determine that certain of our mineral reserves or resources have become uneconomic, this may ultimately lead to a reduction in our aggregate reported mineral reserves and resources. Consequently, if our actual mineral reserves and resources are less than current estimates, our business, prospects, results of operations and financial position may be materially impaired. For additional information see the “Proven and Probable Reserve" and "Measured and Indicated and Inferred Resource" tables herein.

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, reserve estimates, exploration outlook and expected expenditure, and operational and financial performance. Where a forward-looking statement 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 and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. Such assumptions, include, but are not limited to the key assumptions set forth on page 5 herein. Investors are also encouraged to refer to the Company’s Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on or about February 19, 2026, under the heading “Risk Factors", as well as Newmont's other SEC filings, available on the SEC website or at www.newmont.com. Newmont 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.

Investor Contact - Global
Neil Backhouse
investor.relations@newmont.com

Investor Contact - Asia Pacific
Clare Kasperzak
apac.investor.relations@newmont.com

Media Contact - Global
Shannon Brushe
globalcommunications@newmont.com

Media Contact - Asia Pacific
Rosalie Cobai
australiacommunications@newmont.com

Source: Newmont