NEWMONT Corp /DE/ Quarterly Report for Q3 Ended Sep 30, 2021

Summary

Newmont Corporation reported a net loss of $243 million, or $0.01 per diluted share, for the third quarter of 2021, a significant decrease from a net income of $856 million, or $1.04 per diluted share, in the same period of 2020. This decline was primarily attributed to a substantial $571 million loss on assets held for sale related to the Conga mill assets, lower realized gold prices, reduced gold sales volumes, and increased reclamation and remediation charges. Despite the quarterly loss, the year-to-date results show a net income of $997 million for the first nine months of 2021, compared to $2.027 billion for the same period in 2020. The company's sales for the quarter decreased by 9% to $2.895 billion, driven by lower gold prices and volumes, although copper, silver, lead, and zinc sales saw increases. The company maintained a strong liquidity position with $4.636 billion in cash and cash equivalents at the end of September 2021.

Key Highlights

• 1Reported a net loss of $243 million for Q3 2021, compared to a net income of $856 million in Q3 2020, largely due to a $571 million loss on assets held for sale (Conga mill assets).
• 2Sales decreased by 9% to $2.895 billion in Q3 2021 from $3.170 billion in Q3 2020, driven by lower gold prices and sales volumes.
• 3Year-to-date net income was $997 million for the first nine months of 2021, down from $2.027 billion in the same period of 2020.
• 4Costs applicable to sales increased by 8% to $1.367 billion in Q3 2021 compared to $1.269 billion in Q3 2020.
• 5Depreciation and amortization remained relatively stable at $570 million for Q3 2021, down slightly from $592 million in Q3 2020.
• 6The company ended Q3 2021 with $4.636 billion in cash and cash equivalents, demonstrating a solid liquidity position.
• 7Capital expenditures for the nine months ended September 30, 2021, were $1.212 billion, an increase from $904 million in the prior year's comparable period.

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