Newmont Posts $1.83 Billion Q3 Net Income, Driven by Gold Prices and Strategic Divestitures

Robust Earnings Lifted by Gold Prices and Asset Sales

Newmont Corporation’s third quarter 2025 results reveal a company capitalizing on favorable gold prices and a focused portfolio optimization strategy. The miner reported net income from continuing operations attributable to stockholders of $1.83 billion, a significant increase of $959 million compared to the same period last year. This surge was primarily fueled by higher average realised gold prices and the strategic divestiture of six non-core assets, which collectively improved operational efficiency and reduced costs.

Portfolio Streamlining and Cash Flow Strength

Following its acquisition of Newcrest, Newmont embarked on a portfolio optimization program, divesting assets including CC&V, Musselwhite, Porcupine, Éléonore, Telfer, Akyem, and the Coffee development project. These sales, completed between late 2024 and the third quarter of 2025, generated substantial cash proceeds, bolstering the company’s liquidity position. At quarter-end, Newmont held $5.6 billion in cash and cash equivalents, with total liquidity of $9.6 billion, positioning it well to fund ongoing operations and growth projects.

Operational Performance – Mixed Production Amid Market Dynamics

Production volumes varied across Newmont’s portfolio. While some sites like Yanacocha and Peñasquito saw increased gold output due to higher throughput and ore grades, others experienced declines linked to operational challenges or the impact of divestitures. Costs applicable to sales decreased overall, largely reflecting the divestiture impact, though inflationary pressures on labor, materials, and royalties were noted at several operations. The company’s all-in sustaining costs per ounce remained competitive, underscoring disciplined cost management.

Navigating Environmental and Legal Complexities

Newmont continues to address environmental obligations, including reclamation and remediation liabilities, with ongoing investments in water treatment and tailings management. The company disclosed active legal proceedings, including class action and derivative lawsuits related to prior operational disclosures, and regulatory challenges in jurisdictions such as Peru, Ghana, and Australia. Despite these complexities, Newmont maintains a strong commitment to sustainability and safety, recognized by multiple industry accolades.

Financial Discipline and Future Outlook

Newmont’s financial discipline is evident in its debt reduction efforts, including a $2 billion debt tender offer and full redemption of 2026 Senior Notes, which contributed to lower interest expenses. The company declared a $0.25 per share dividend in October 2025 and authorized a $3 billion stock repurchase program, signaling confidence in its cash flow generation. Near-term capital expenditures focus on key development projects such as Tanami Expansion 2, Ahafo North, and Cadia Panel Caves, funded from existing liquidity and operating cash flow.