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Newmont Reports 2019 Gold Mineral Reserves of 100 Million Ounces, Largest in Company History

Feb 13, 2020

DENVER--(BUSINESS WIRE)-- Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) reported gold Mineral Reserves (reserves) of 100.2 million attributable ounces for 2019 compared to 65.4 million ounces at the end of 2018, an increase of 53 percent after successfully completing two historic transactions and through ongoing exploration success.

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Percentage of Gold Reserves by Jurisdiction (North America includes Nevada)

Percentage of Gold Reserves by Jurisdiction (North America includes Nevada)

“Newmont has the largest gold reserve base in the industry underpinned by our world-class ore bodies in top tier jurisdictions. In 2019, we added almost 50 million ounces of gold reserves through the acquisition of Goldcorp, formation of the Nevada Gold Mines joint venture and the continuation of our leading exploration program,” said Tom Palmer, President and Chief Executive Officer. “Our reserve and resource base will support stable production of more than 6 million ounces per annum for decades to come.”

Key highlights and differentiators:

  • Industry’s largest gold Mineral Reserves of 100.2 million ounces
  • Gold reserves located in top-tier jurisdictions with 88 percent in Americas and Australia
  • Gold reserve life at operating sites of >10 years underpinned by a strong base at Boddington, Tanami, Ahafo, Peñasquito, and Nevada Gold Mines, and further enhanced from our eight other operating mines and equity ownership in Pueblo Viejo
  • Significant gold reserves per share with 124 ounces per 1,000 shares
  • Tanami added 1.5 million ounces of gold reserves, 1.1 million ounces of Measured and Indicated gold resources and 1.6 million ounces of inferred resource
  • Stable production profile underpinned by long life operating assets such as Boddington with 14 years; Tanami and Peñasquito with 12 years and Ahafo with 11 years
  • Significant exposure to copper, silver, zinc, and lead with 63 million gold equivalent ounces (GEO)1
  • Measured & Indicated gold Mineral Resources of 76.7 million ounces; Inferred of 31.3 million ounces

Reported figures include Red Lake and the Company’s 50 percent interest in Kalgoorlie Consolidated Gold Mines (KCGM). Newmont successfully completed the sale of KCGM in January 2020 and expects to close the divestment of Red Lake in the first quarter of 2020. Combined, these sites represented approximately 4.5 million ounces of gold reserves and 2.6 million ounces of Measured and Indicated gold Mineral Resources (resources), bringing Newmont’s adjusted 2019 gold Mineral Reserves to 95.7 and Measured and Indicated gold Mineral Resources2 to 74.1 million ounces.

Newmont’s reserve base is a key differentiator with 88 percent of gold reserves located in top-tier jurisdictions in the Americas and Australia, an operating reserve life of more than 10 years and average reserve grade of 1.05 grams per tonne. In addition, Newmont significantly increased its exposure to other metals, with an estimated 63 million gold equivalent ounces1 from copper, silver, zinc, lead and molybdenum.

In 2019, Newmont reported 100.2 million ounces of gold Mineral Reserves and 95.7 million ounces after adjusting for the KCGM and Red Lake divestments.

The Company added 42.2 million net ounces of gold reserves through its acquisition of Goldcorp and formation of the Nevada Gold Mines (NGM) joint venture, after adjusting for revisions at select Goldcorp operating sites, which were assessed using Newmont’s rigorous technical standards.

As previously disclosed, the Coffee project and Dome pit as part of the Century project were reclassified from Mineral Reserves to Mineral Resources, due to Feasibility study requirements. The project revisions were 1.7 million ounces and 4.4 million ounces, respectively.

Additions before revisions of 7.4 million ounces through exploration exceeded the Company’s target demonstrating drilling success and the prospectivity across the portfolio. Notable reserve additions for the year included: 2.5 million equity ounces from NGM, 1.5 million ounces at Tanami, 0.7 million equity ounces at NuevaUnión, 0.5 million ounces at Merian and 0.4 million ounces at Ahafo underground. Additions nearly offset depletion of 7.7 million contained ounces, which corresponds to Newmont’s 2019 attributable production outlook of 6.3 million ounces.

Newmont’s gold reserve grade was 1.05 grams per tonne compared to 1.19 grams per tonne in the prior year, largely due to the addition of polymetallic mines and projects including Peñasquito, NuevaUnión and Norte Abierto, which was partially offset by higher-grade reserves from the Company’s 38.5 percent equity ownership in NGM.

Newmont reported attributable Measured and Indicated gold Mineral Resources of 76.7 million ounces and 31.3 million ounces of attributable Inferred gold Mineral Resources, an increase of 95 percent and 101 percent from the prior year, respectively, at a constant gold price. Adjusted for the divestitures of KCGM and Red Lake.

Measured and Indicated gold Mineral Resources are 74.1 million ounces and Inferred gold Mineral Resources are 29.4 million ounces.

The acquisition of Goldcorp and formation of the NGM joint venture added 26.5 million net ounces of Measured and Indicated gold Mineral Resources and 13.7 million net ounces of Inferred gold Mineral Resources.

Measured and Indicated gold Mineral Resources added through exploration and studies were 7.8 million ounces and included notable additions before revisions of 1.1 million ounces at Tanami, 0.9 million equity ounces at both NGM and Pueblo Viejo, 0.8 million ounces at each of Ahafo underground, NuevaUnión and Merian (equity ounces).

Additions before revisions of 5.2 million ounces of Inferred gold Mineral Resources notably included 1.6 million ounces at Tanami, 0.8 million equity ounces at NGM, and 0.7 million ounces at Peñasquito.

Newmont’s Measured and Indicated gold Mineral Resource grade increased to 0.72 grams per tonne compared to 0.69 grams per tonne in the prior year from higher grade resources from NGM and the underground mines from the Goldcorp acquisition. Inferred gold Mineral Resource grade decreased to 0.66 grams per tonne from 1.01 grams per tonne, largely due to lower grade ounces from acquired polymetallic mines and projects.

Other Metals

Newmont’s base metal reserves increased significantly with the addition of the Goldcorp assets. Copper reserves increased to 6.8 million tonnes from 1.3 million tonnes in 2018, primarily due to the additions at the NuevaUnión and Norte Abierto projects. Copper resources increased significantly, increasing to 6.8 million tonnes of Measured & Indicated and 3.5 million tonnes of Inferred from 4.1 million tonnes of Measured & Indicated and 0.5 million tonnes of Inferred.

Silver reserves also increased significantly to 652 million ounces from 86 million ounces, primarily due to additions at Peñasquito, but also supported by NuevaUnión, Norte Abierto, Cerro Negro and Pueblo Viejo. Silver resources increased to 481 million ounces of Measured & Indicated and 217 million ounces of Inferred from 128 million ounces of Measured & Indicated and 21 million ounces of Inferred.

The Company also had first time declarations totaling 3.4 million tonnes of zinc reserves and 1.5 million tonnes of lead reserves at Peñasquito, and 0.1 million tonnes of molybdenum at NuevaUnión. First time declarations of zinc and lead resources were 1.9 million tonnes of Measured & Indicated and 1.0 million tonnes of Inferred, and 0.8 million tonnes of Measured & Indicated and 0.5 million tonnes of Inferred, respectively.

Exploration Outlook

Newmont’s total attributable exploration expenditure3 is expected to be approximately $230 million in 2020, a decrease of 13 percent from the prior year as the Company captures $25 million of exploration synergies from the Goldcorp acquisition and approximately $10 million from the divestiture of KCGM and Red Lake. Around 80 percent of total exploration investment will be dedicated to near-mine expansion programs and the remaining 20 percent will be allocated to the advancement of greenfield projects and innovation programs. Geographically, the Company expects to invest approximately 30 percent in North America, 25 percent in South America, 20 percent in Australia and the remainder in Africa and other locations.

Gold Reserve Sensitivity

A $100 increase in gold price would result in an approximate six percent increase in gold reserves while a $100 decrease in gold price would result in an approximate six percent decrease in gold reserves. These sensitivities assume an oil price of $60 per barrel (WTI), Australian dollar exchange rate of $0.75 and Canadian dollar exchange rate of $0.77.

For additional details on Newmont’s reported Gold, Copper, Silver, Zinc, Lead and Molybdenum Mineral Reserves and Mineral Resources, please refer to the tables at the end of this release.

1 Gold Equivalent Ounces calculated using Mineral Reserve pricing as shown at the end of this release and metallurgical recoveries for each metal on a site-by-site basis.

2 Totals may not sum due to rounding.

3 Includes capitalized and expensed exploration.

Key Assumptions:

 

Years Ended
December 31

 

2019

 

2018

Gold Reserves (US$/oz.)

$1,200

 

$1,200

Gold Resources (US$/oz.)

$1,400

 

$1,400

Copper Reserves (US$/lb.)

$2.75

 

$2.50

Copper Resources (US$/lb.)

$3.25

 

$3.25

Silver Reserves (US$/oz.)

$16.00

 

$16.00

Silver Resources (US$/oz.)

$20.00

 

$20.00

Zinc Reserves (US$/lb.)

$1.20

 

NA

Zinc Resources (US$/lb.)

$1.45

 

NA

Lead Reserves (US$/lb.)

$0.95

 

NA

Lead Resources (US$/lb.)

$1.15

 

NA

Australian Dollar (A$:US$)

$0.75

 

$0.75

Canadian Dollar (C$:US$)

$0.77

 

NA

Mexican Peso (M$:US$)

$19.50

 

NA

West Texas Intermediate (US$/bbl.)

$60

 

$65

 

Reserve and Resource Tables

Proven and Probable reserves are based on extensive drilling, sampling, mine modeling and metallurgical testing from which we determine economic feasibility. Newmont’s metal price assumptions follow SEC guidance not to exceed a three year trailing average. 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 included in this release list the average metallurgical recovery rate for each deposit, which takes into account the assumed processing methods. The cut-off grade, or lowest grade of material considered economic to process, varies with material type, price, metallurgical recoveries, operating costs and co- or by-product credits. 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, silver, copper, lead, zinc and molybdenum will be realized. Ounces of gold and silver or tonnes of copper, zinc, lead, 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, silver, copper, zinc, lead, or molybdenum, as well as increased production costs or reduced metallurgical recovery rates, could render certain Proven and Probable reserves containing relatively lower grades of mineralization 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. 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. 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. Please refer to the reserves and resources cautionary statement at the end of the release.

We publish reserves and resources annually, and will recalculate reserves and resources at year-end 2020, taking into account metal prices, changes, if any, in future production and capital costs, mine designs, model changes, divestments and depletion as well as any acquisitions and additions during 2020.

The following technical reports are available to the public on SEDAR:

Ahafo South Operations, Republic of Ghana, NI 43-101 Technical Report, Report Effective Date: December 31, 2018

Boddington Operations, Western Australia, Australia, NI 43-101 Technical Report, Report Effective Date: December 31, 2018

Peñasquito Polymetallic Operations, Zacatecas State, Mexico, NI 43-101 Technical Report, Report Effective Date: 30 June 2018 (under Goldcorp’s SEDAR profile)

Tanami Operations, Northern Territory, Australia, NI 43-101 Technical Report, Report Effective Date: December 31, 2018

 

Attributable Proven, Probable and Combined Gold Reserves (1), Metric Units

 

December 31, 2019

 

December 31, 2018

 

 

 

 

Proven Reserves

 

Probable Reserves

 

Proven and Probable Reserves

 

 

 

Proven and Probable Reserves

 

 

Newmont

 

Tonnage (2)

 

Grade

 

Gold (3)

 

Tonnage (2)

 

Grade

 

Gold (3)

 

Tonnage (2)

 

Grade

 

Gold (3)

 

Metallurgical

 

Tonnage (2)

 

Grade

 

Gold (3)

Deposits/Districts

 

Share

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

Recovery

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

North America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CC&V Open Pits (4)

 

100

%

 

94,100

 

0.52

 

1,570

 

24,400

 

0.43

 

340

 

118,500

 

0.50

 

1,910

 

59

%

 

140,300

 

0.53

 

2,400

CC&V Leach Pads (5)

 

100

%

 

 

 

 

 

31,600

 

0.88

 

890

 

31,600

 

0.88

 

890

 

59

%

 

38,100

 

0.86

 

1,050

Total CC&V, Colorado

 

 

 

94,100

 

0.52

 

1,570

 

56,000

 

0.69

 

1,230

 

150,100

 

0.58

 

2,800

 

59

%

 

178,400

 

0.60

 

3,450

Red Lake, Canada (6)

 

100

%

 

900

 

8.69

 

260

 

3,700

 

8.68

 

1,040

 

4,600

 

8.68

 

1,300

 

94

%

 

 

 

 

Musselwhite, Canada (7)

 

100

%

 

4,900

 

6.48

 

1,020

 

5,000

 

6.57

 

1,070

 

9,900

 

6.52

 

2,090

 

95

%

 

 

 

 

Porcupine Underground (8)

 

100

%

 

600

 

10.53

 

200

 

4,300

 

6.89

 

950

 

4,900

 

7.33

 

1,150

 

87

%

 

 

 

 

Porcupine Open Pit (9)

 

100

%

 

11,900

 

1.50

 

570

 

32,700

 

1.04

 

1,100

 

44,600

 

1.16

 

1,670

 

88

%

 

 

 

 

Total Porcupine, Canada

 

 

 

12,500

 

1.92

 

770

 

37,000

 

1.72

 

2,050

 

49,500

 

1.77

 

2,820

 

88

%

 

 

 

 

Éléonore, Canada (10)

 

100

%

 

1,500

 

5.69

 

280

 

5,900

 

5.21

 

1,000

 

7,400

 

5.31

 

1,280

 

91

%

 

 

 

 

Peñasquito, Mexico (11)

 

100

%

 

109,700

 

0.63

 

2,220

 

331,800

 

0.55

 

5,860

 

441,500

 

0.57

 

8,080

 

77

%

 

 

 

 

TOTAL NORTH AMERICA

 

 

 

223,600

 

0.85

 

6,120

 

439,400

 

0.87

 

12,250

 

663,000

 

0.86

 

18,370

 

80

%

 

178,400

 

0.60

 

3,450

South America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Yanacocha Open Pits (12)

 

51.35

%

 

11,200

 

0.72

 

270

 

96,500

 

0.64

 

1,990

 

107,700

 

0.65

 

2,260

 

64

%

 

117,900

 

0.67

 

2,540

Yanacocha Underground (13)

 

51.35

%

 

 

 

 

 

6,000

 

6.88

 

1,310

 

6,000

 

6.88

 

1,310

 

96

%

 

5,700

 

 

 

1,270

Total Yanacocha, Peru

 

 

 

11,200

 

0.72

 

270

 

102,500

 

1.00

 

3,300

 

113,700

 

0.98

 

3,570

 

76

%

 

123,600

 

0.96

 

3,810

Merian, Suriname (14)

 

75

%

 

41,100

 

1.41

 

1,860

 

46,600

 

1.08

 

1,620

 

87,700

 

1.23

 

3,480

 

92

%

 

93,100

 

1.25

 

3,730

Cerro Negro, Argentina (15)

 

100

%

 

1,100

 

11.49

 

400

 

7,300

 

9.44

 

2,200

 

8,400

 

9.70

 

2,600

 

92

%

 

 

 

 

Pueblo Viejo Open Pits

 

40

%

 

6,700

 

2.68

 

580

 

5,600

 

2.72

 

490

 

12,300

 

2.70

 

1,070

 

91

%

 

 

 

 

Pueblo Viejo Stockpiles (16)

 

40

%

 

 

 

 

 

35,300

 

2.41

 

2,740

 

35,300

 

2.41

 

2,740

 

90

%

 

 

 

 

Total Pueblo Viejo, Dominican Republic (17)

 

 

 

6,700

 

2.68

 

580

 

40,900

 

2.46

 

3,230

 

47,600

 

2.49

 

3,810

 

90

%

 

 

 

 

NuevaUnión, Chile (18)

 

50

%

 

 

 

 

 

341,100

 

0.47

 

5,150

 

341,100

 

0.47

 

5,150

 

68

%

 

 

 

 

Norte Abierto, Chile (19)

 

50

%

 

 

 

 

 

598,800

 

0.60

 

11,620

 

598,800

 

0.60

 

11,620

 

74

%

 

 

 

 

TOTAL SOUTH AMERICA

 

 

 

60,100

 

1.60

 

3,110

 

1,137,200

 

0.74

 

27,120

 

1,197,300

 

0.79

 

30,230

 

78

%

 

216,700

 

1.08

 

7,540

Australia

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Boddington Open Pit (20)

 

100

%

 

234,800

 

0.70

 

5,260

 

246,200

 

0.69

 

5,460

 

481,000

 

0.69

 

10,720

 

85

%

 

480,700

 

0.71

 

10,990

Boddington Stockpiles (16)

 

100

%

 

3,900

 

0.60

 

80

 

81,400

 

0.43

 

1,130

 

85,300

 

0.44

 

1,210

 

78

%

 

93,000

 

0.45

 

1,360

Total Boddington, Western Australia

 

 

 

238,700

 

0.69

 

5,340

 

327,600

 

0.63

 

6,590

 

566,300

 

0.65

 

11,930

 

84

%

 

573,700

 

0.67

 

12,350

Tanami, Northern Territory (21)

 

100

%

 

13,000

 

5.18

 

2,170

 

20,200

 

5.39

 

3,510

 

33,200

 

5.31

 

5,680

 

97

%

 

26,600

 

5.51

 

4,690

Kalgoorlie Open Pit and Underground (22)

 

50

%

 

3,700

 

1.94

 

230

 

20,400

 

2.04

 

1,330

 

24,100

 

2.02

 

1,560

 

83

%

 

29,000

 

2.13

 

1,990

Kalgoorlie Stockpiles (16)

 

50

%

 

13,500

 

1.06

 

460

 

51,500

 

0.68

 

1,120

 

65,000

 

0.76

 

1,580

 

74

%

 

67,300

 

0.77

 

1,660

Total Kalgoorlie, Western Australia (23)

 

 

 

17,200

 

1.24

 

690

 

71,900

 

1.06

 

2,450

 

89,100

 

1.10

 

3,140

 

78

%

 

96,300

 

1.18

 

3,650

TOTAL AUSTRALIA

 

 

 

268,900

 

0.95

 

8,200

 

419,700

 

0.93

 

12,550

 

688,600

 

0.94

 

20,750

 

86

%

 

696,600

 

0.92

 

20,690

Africa

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ahafo South Open Pits (24)

 

100

%

 

12,300

 

2.39

 

940

 

44,900

 

1.76

 

2,550

 

57,200

 

1.90

 

3,490

 

90

%

 

64,600

 

1.97

 

4,100

Ahafo Underground (25)

 

100

%

 

1,300

 

4.80

 

210

 

13,200

 

3.13

 

1,330

 

14,500

 

3.29

 

1,540

 

94

%

 

7,500

 

4.74

 

1,150

Ahafo Stockpiles (16)

 

100

%

 

38,300

 

0.92

 

1,140

 

 

 

 

 

38,300

 

0.92

 

1,140

 

88

%

 

38,000

 

0.92

 

1,130

Total Ahafo South, Ghana

 

 

 

51,900

 

1.37

 

2,290

 

58,100

 

2.08

 

3,880

 

110,000

 

1.74

 

6,170

 

91

%

 

110,100

 

1.80

 

6,380

Ahafo North, Ghana (26)

 

100

%

 

 

 

 

 

45,100

 

2.40

 

3,470

 

45,100

 

2.40

 

3,470

 

91

%

 

43,500

 

2.39

 

3,350

Akyem Open Pit (27)

 

100

%

 

18,300

 

1.65

 

970

 

20,600

 

1.74

 

1,150

 

38,900

 

1.70

 

2,120

 

90

%

 

34,200

 

1.69

 

1,860

Akyem Stockpiles (16)

 

100

%

 

16,400

 

0.88

 

460

 

 

 

 

 

16,400

 

0.88

 

460

 

84

%

 

12,900

 

0.90

 

380

Total Akyem, Ghana

 

 

 

34,700

 

1.29

 

1,430

 

20,600

 

1.74

 

1,150

 

55,300

 

1.46

 

2,580

 

89

%

 

47,100

 

1.47

 

2,240

TOTAL AFRICA

 

 

 

86,600

 

1.33

 

3,720

 

123,800

 

2.14

 

8,500

 

210,400

 

1.81

 

12,220

 

91

%

 

200,700

 

1.85

 

11,970

Nevada

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NGM Open Pits, Nevada

 

38.5

%

 

9,900

 

1.81

 

570

 

141,800

 

1.18

 

5,370

 

151,700

 

1.22

 

5,940

 

83

%

 

 

 

 

NGM Stockpiles, Nevada (16)

 

38.5

%

 

37,100

 

2.38

 

2,830

 

 

 

 

 

37,100

 

2.38

 

2,830

 

73

%

 

 

 

 

NGM Underground, Nevada

 

38.5

%

 

14,900

 

10.49

 

5,000

 

15,400

 

9.81

 

4,830

 

30,300

 

10.14

 

9,830

 

83

%

 

 

 

 

Total NGM, Nevada (28)

 

 

 

61,900

 

4.24

 

8,400

 

157,200

 

2.02

 

10,200

 

219,100

 

2.64

 

18,600

 

81

%

 

 

 

 

Carlin Open Pits

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

108,700

 

1.63

 

5,690

Carlin Leach Pad (5)

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

66,800

 

0.30

 

650

Carlin Stockpiles (16)

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

16,900

 

2.30

 

1,250

Carlin Underground

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

14,800

 

10.27

 

4,870

Total Carlin, Nevada (29)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

207,200

 

1.87

 

12,460

Phoenix

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

132,800

 

0.66

 

2,820

Lone Tree

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3,600

 

0.29

 

30

Total Phoenix, Nevada (29)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

136,400

 

0.65

 

2,850

Turquoise Ridge (30)

 

25

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5,500

 

12.97

 

2,270

Twin Creeks

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

24,900

 

1.66

 

1,330

Twin Creeks Stockpiles (16)

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

28,400

 

2.09

 

1,910

Total Twin Creeks, Nevada (29)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

58,800

 

2.91

 

5,510

Long Canyon, Nevada (29)

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

22,300

 

1.34

 

970

TOTAL NEVADA

 

 

 

61,900

 

4.24

 

8,400

 

157,200

 

2.02

 

10,200

 

219,100

 

2.64

 

18,600

 

81

%

 

424,700

 

1.60

 

21,790

TOTAL NEWMONT

 

 

 

701,100

 

1.31

 

29,550

 

2,277,300

 

0.96

 

70,620

 

2,978,400

 

1.05

 

100,170

 

81

%

 

1,717,100

 

1.19

 

65,440

Red Lake, Canada (6)

 

100

%

 

900

 

8.69

 

260

 

3,700

 

8.68

 

1,040

 

4,600

 

8.68

 

1,300

 

94

%

 

 

 

 

Kalgoorlie, Western Australia (23)

 

50

%

 

17,200

 

1.24

 

690

 

71,900

 

1.06

 

2,450

 

89,100

 

1.10

 

3,140

 

78

%

 

96,300

 

1.18

 

3,650

TOTAL NEWMONT ADJUSTED

 

 

 

683,000

 

1.30

 

28,600

 

2,201,700

 

0.95

 

67,130

 

2,884,700

 

1.03

 

95,730

 

82

%

 

1,620,800

 

1.19

 

61,790

(1)

See cautionary statement regarding reserves and resources on page 12 hereof. 2019 and 2018 reserves were calculated at a gold price of $1,200 per ounce unless otherwise noted.

(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 10,000.

(4)

Cut-off grades utilized in 2019 reserves were as follows: oxide mill material not less than 1.03 gram per tonne and leach material not less than 0.24 gram per tonne.

(5)

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.

(6)

Red Lake was classified as held for sale as of December 31, 2019. Cut-off grade utilized in 2019 reserves not less than 6.75 gram per tonne.

(7)

Cut-off grade utilized in 2019 reserves not less than 3.70 gram per tonne.

(8)

Cut-off grade utilized in 2019 reserves not less than 4.06 gram per tonne.

(9)

Cut-off grade utilized in 2019 reserves not less than 0.52 gram per tonne.

(10)

Cut-off grade utilized in 2019 reserves not less than 4.80 gram per tonne.

(11)

Gold cut-off grade varies with level of silver, lead and zinc credits.

(12)

Gold cut-off grades utilized in 2019 reserves were as follows: oxide leach material not less than 0.12 gram per tonne; oxide mill material not less than 0.49 gram per tonne; and refractory mill material not less than 1.45 gram per tonne.

(13)

Gold cut-off grades utilized in 2019 reserves not less than 1.86 gram per tonne.

(14)

Cut-off grade utilized in 2019 reserves not less than 0.38 gram per tonne.

(15)

Cut-off grade utilized in 2019 reserves not less than 5.00 gram per tonne.

(16)

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.

(17)

The Pueblo Viejo mine, which is 40 percent owned by Newmont, is accounted for as an equity method investment. Reserve estimates provided by Barrick, the operator of Pueblo Viejo.

(18)

Project is currently undeveloped. Reserve estimates provided by the NuevaUnión joint venture.

(19)

Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture

(20)

Gold cut-off grade varies with level of copper credits.

(21)

Cut-off grade utilized in 2019 reserves not less than 1.60 gram per tonne.

(22)

Cut-off grade utilized in 2019 in situ reserves not less than 0.90 gram per tonne.

(23)

Kalgoorlie was classified as held for sale as of December 31, 2019.

(24)

Cut-off grade utilized in 2019 reserves not less than 0.68 gram per tonne.

(25)

Cut-off grade utilized in 2019 reserves not less than 1.60 gram per tonne.

(26)

Includes undeveloped reserves in the Ahafo trend totaling 3.4 million ounces. Cut-off grade utilized in 2019 reserves not less than 0.51 gram per tonne.

(27)

Cut-off grade utilized in 2019 reserves not less than 0.59 gram per tonne.

(28)

Reserve estimates provided by Barrick, the operator of the NGM joint venture.

(29)

Property was contributed to NGM on July 1, 2019.

(30)

Reserve estimates provided by Barrick, the operator of the Turquoise Ridge joint venture.

 

Attributable Gold Mineral Resources (1)(2) - December 31, 2019, Metric Units

 

 

 

 

Measured Resource

 

Indicated Resource

 

Measured and Indicated Resource (3)

 

Inferred Resource

 

 

Newmont

 

Tonnage

 

Grade

 

Gold

 

Tonnage

 

Grade

 

Gold

 

Tonnage

 

Grade

 

Gold

 

Tonnage

 

Grade

 

Gold

Deposits/Districts

 

Share

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

North America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CC&V,Colorado

 

100

%

 

67,100

 

0.50

 

1,080

 

43,600

 

0.44

 

620

 

110,700

 

0.48

 

1,700

 

16,800

 

0.39

 

210

Red Lake, Canada (4)

 

100

%

 

300

 

24.09

 

210

 

1,000

 

15.55

 

490

 

1,300

 

17.36

 

700

 

1,600

 

18.04

 

910

Musselwhite, Canada

 

100

%

 

1,800

 

4.04

 

230

 

4,600

 

4.09

 

600

 

6,400

 

4.08

 

830

 

3,200

 

4.37

 

440

Porcupine Underground

 

100

%

 

100

 

6.28

 

20

 

700

 

4.34

 

110

 

800

 

4.58

 

130

 

1,000

 

5.78

 

180

Porcupine Open Pit

 

100

%

 

2,700

 

1.17

 

100

 

248,400

 

0.89

 

7,130

 

251,100

 

0.90

 

7,230

 

108,200

 

0.70

 

2,430

Total Porcupine, Canada

 

 

 

2,800

 

1.33

 

120

 

249,100

 

0.90

 

7,240

 

251,900

 

0.91

 

7,360

 

109,200

 

0.74

 

2,610

Éléonore, Canada

 

100

%

 

300

 

4.39

 

40

 

2,500

 

4.57

 

370

 

2,800

 

4.55

 

410

 

3,400

 

5.21

 

580

Peñasquito, Mexico

 

100

%

 

37,300

 

0.25

 

300

 

304,000

 

0.25

 

2,440

 

341,300

 

0.25

 

2,740

 

193,600

 

0.34

 

2,090

Noche Buena, Mexico

 

50

%

 

 

 

 

 

27,500

 

0.37

 

330

 

27,500

 

0.37

 

330

 

2,500

 

0.22

 

20

Sandman, Nevada

 

100

%

 

 

 

 

 

1,200

 

1.23

 

50

 

1,200

 

1.23

 

50

 

1,100

 

1.85

 

60

Coffee, Canada

 

100

%

 

5,200

 

1.76

 

300

 

41,100

 

1.42

 

1,870

 

46,300

 

1.46

 

2,170

 

11,800

 

1.32

 

500

Galore Creek, Canada (5)

 

50

%

 

128,400

 

0.36

 

1,510

 

423,400

 

0.23

 

3,120

 

551,800

 

0.26

 

4,630

 

99,100

 

0.21

 

670

TOTAL NORTH AMERICA

 

 

 

243,200

 

0.48

 

3,790

 

1,098,000

 

0.49

 

17,130

 

1,341,200

 

0.49

 

20,920

 

442,300

 

0.57

 

8,090

South America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Conga, Peru

 

51.35

%

 

 

 

 

 

356,300

 

0.65

 

7,490

 

356,300

 

0.65

 

7,490

 

118,400

 

0.39

 

1,480

Yanacocha

 

51.35

%

 

5,800

 

0.75

 

140

 

33,300

 

0.43

 

460

 

39,100

 

0.48

 

600

 

92,400

 

0.84

 

2,490

Yanacocha Underground

 

51.35

%

 

 

 

 

 

1,600

 

6.50

 

330

 

1,600

 

6.50

 

330

 

5,100

 

3.54

 

580

Total Yanacocha, Peru

 

 

 

5,800

 

0.75

 

140

 

34,900

 

0.70

 

790

 

40,700

 

0.71

 

930

 

97,500

 

0.98

 

3,070

Merian, Suriname

 

75

%

 

6,400

 

1.01

 

200

 

30,500

 

1.15

 

1,130

 

36,900

 

1.12

 

1,330

 

22,300

 

1.05

 

750

Cerro Negro, Argentina

 

100

%

 

2,800

 

3.52

 

330

 

9,300

 

6.02

 

1,790

 

12,100

 

5.43

 

2,120

 

700

 

5.78

 

150

Pueblo Viejo, Dominican Republic (6)

 

40

%

 

11,300

 

2.25

 

820

 

77,100

 

2.22

 

5,490

 

88,400

 

2.22

 

6,310

 

21,700

 

2.10

 

1,470

NuevaUnión, Chile (7)

 

50

%

 

3,300

 

0.31

 

30

 

75,900

 

0.62

 

1,520

 

79,200

 

0.61

 

1,550

 

266,900

 

0.37

 

3,190

Norte Abierto, Chile (8)

 

50

%

 

77,300

 

0.61

 

1,500

 

596,900

 

0.49

 

9,310

 

674,200

 

0.50

 

10,810

 

369,600

 

0.37

 

4,370

Alumbrera, Argentina (9)

 

37.5

%

 

45,700

 

0.37

 

530

 

6,700

 

0.51

 

110

 

52,400

 

0.38

 

640

 

2,700

 

0.45

 

40

TOTAL SOUTH AMERICA

 

 

 

152,600

 

0.73

 

3,550

 

1,187,600

 

0.72

 

27,630

 

1,340,200

 

0.72

 

31,180

 

899,800

 

0.50

 

14,520

Australia

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Boddington, Western Australia

 

100

%

 

101,300

 

0.55

 

1,800

 

257,300

 

0.54

 

4,480

 

358,600

 

0.55

 

6,280

 

6,200

 

0.45

 

90

Tanami, Northern Territory

 

100

%

 

200

 

3.37

 

20

 

17,500

 

2.21

 

1,240

 

17,700

 

2.22

 

1,260

 

14,900

 

4.52

 

2,160

Kalgoorlie, Western Australia (10)

 

50

%

 

6,000

 

1.46

 

280

 

28,400

 

1.75

 

1,610

 

34,400

 

1.70

 

1,890

 

12,800

 

2.34

 

960

TOTAL AUSTRALIA

 

 

 

107,500

 

0.61

 

2,100

 

303,200

 

0.75

 

7,330

 

410,700

 

0.71

 

9,430

 

33,900

 

2.96

 

3,210

Africa

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ahafo South

 

100

%

 

1,000

 

0.62

 

20

 

25,100

 

1.22

 

980

 

26,100

 

1.19

 

1,000

 

8,400

 

1.45

 

400

Ahafo Underground

 

100

%

 

 

 

 

 

15,900

 

3.93

 

2,020

 

15,900

 

3.93

 

2,020

 

11,300

 

3.35

 

1,220

Total Ahafo South, Ghana

 

 

 

1,000

 

0.62

 

20

 

41,000

 

2.28

 

3,000

 

42,000

 

2.24

 

3,020

 

19,700

 

2.56

 

1,620

Ahafo North Open Pits, Ghana

 

100

%

 

2,100

 

1.23

 

80

 

8,200

 

1.99

 

530

 

10,300

 

1.84

 

610

 

7,200

 

1.78

 

410

Akyem Open Pits

 

100

%

 

1,300

 

0.55

 

20

 

1,800

 

0.55

 

30

 

3,100

 

0.55

 

50

 

2,900

 

1.40

 

130

Akyem Underground

 

100

%

 

 

 

 

 

3,800

 

4.16

 

510

 

3,800

 

4.16

 

510

 

2,400

 

3.62

 

280

Akyem, Ghana

 

 

 

1,300

 

0.55

 

20

 

5,600

 

3.00

 

540

 

6,900

 

2.52

 

560

 

5,300

 

2.41

 

410

TOTAL AFRICA

 

 

 

4,400

 

0.89

 

120

 

54,800

 

2.30

 

4,070

 

59,200

 

2.20

 

4,190

 

32,200

 

2.35

 

2,440

Nevada

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NGM Open Pits, Nevada

 

38.5

%

 

10,200

 

1.49

 

490

 

130,200

 

1.10

 

4,610

 

140,400

 

1.13

 

5,100

 

50,100

 

0.83

 

1,340

NGM Underground, Nevada

 

38.5

%

 

7,700

 

5.85

 

1,440

 

19,900

 

6.96

 

4,480

 

27,600

 

6.65

 

5,920

 

6,700

 

8.04

 

1,690

Total NGM, Nevada (11)

 

 

 

17,900

 

3.37

 

1,930

 

150,100

 

1.88

 

9,090

 

168,000

 

2.04

 

11,020

 

56,800

 

1.67

 

3,030

TOTAL NEVADA

 

 

 

17,900

 

3.37

 

1,930

 

150,100

 

1.88

 

9,090

 

168,000

 

2.04

 

11,020

 

56,800

 

1.67

 

3,030

TOTAL NEWMONT

 

 

 

525,600

 

0.68

 

11,490

 

2,793,700

 

0.73

 

65,250

 

3,319,300

 

0.72

 

76,740

 

1,465,000

 

0.66

 

31,290

Red Lake, Canada (4)

 

100

%

 

300

 

24.09

 

210

 

1,000

 

15.55

 

490

 

1,300

 

17.36

 

700

 

1,600

 

18.04

 

910

Kalgoorlie, Western Australia (10)

 

50

%

 

6,000

 

1.46

 

280

 

28,400

 

1.75

 

1,610

 

34,400

 

1.70

 

1,890

 

12,800

 

2.34

 

960

TOTAL NEWMONT ADJUSTED

 

 

 

519,300

 

0.66

 

11,000

 

2,764,300

 

0.71

 

63,150

 

3,283,600

 

0.70

 

74,150

 

1,450,600

 

0.63

 

29,420

(1)

Resources are reported exclusive of reserves.

(2)

Resources are calculated at a gold price of $1,400 per ounce for 2019 and 2018. Tonnage amounts have been rounded to the nearest 100,000. Ounces may not recalculate as they have been rounded to the nearest 10,000.

(3)

Measured and Indicated Resources (combined) are equivalent to Mineralized Material disclosed in Newmont’s 10-K filing.

(4)

Red Lake was classified as held for sale as of December 31, 2019.

(5)

Project is currently undeveloped. Resource estimates provided by Teck.

(6)

Resource estimates provided by Barrick, the operator of Pueblo Viejo.

(7)

Project is currently undeveloped. Resource estimates provided by the NuevaUnión joint venture.

(8)

Project is currently undeveloped. Resource estimates provided by the Norte Abierto joint venture.

(9)

Resource estimates provided by Glencore.

(10)

Kalgoorlie was classified as held for sale as of December 31, 2019.

(11)

Resource estimates provided by Barrick, the operator of the NGM joint venture.

 

Attributable Copper Reserves (1) Metric Units

 

December 31, 2019

 

December 31, 2018

 

 

 

 

Proven Reserves

 

Probable Reserves

 

Proven and Probable Reserves

 

 

 

Proven and Probable Reserves

 

 

Newmont

 

Tonnage (2)

 

Grade

 

Copper (3)

 

Tonnage (2)

 

Grade

 

Copper (3)

 

Tonnage (2)

 

Grade

 

Copper (3)

 

Metallurgical

 

Tonnage (2)

 

Grade

 

Copper (3)

Deposits/Districts

 

Share

 

(x1000 tonnes)

 

(Cu %)

 

(Tonnes)

 

(x1000 tonnes)

 

(Cu %)

 

(Tonnes)

 

(x1000 tonnes)

 

(Cu %)

 

(Tonnes)

 

Recovery

 

(x1000 tonnes)

 

(Cu %)

 

(Tonnes)

South America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Yanacocha Open Pits and Underground, Peru (4)

 

51.35

%

 

 

 

 

 

53,600

 

0.63

%

 

340,000

 

53,600

 

0.63

%

 

340,000

 

83

%

 

53,600

 

0.63

%

 

340,000

NuevaUnión, Chile (5)

 

50

%

 

 

 

 

 

1,118,000

 

0.40

%

 

4,420,000

 

1,118,000

 

0.40

%

 

4,420,000

 

88

%

 

 

 

 

Norte Abierto, Chile (6)

 

50

%

 

 

 

 

 

598,800

 

0.22

%

 

1,310,000

 

598,800

 

0.22

%

 

1,310,000

 

87

%

 

 

 

 

TOTAL SOUTH AMERICA

 

 

 

 

 

 

 

1,770,400

 

0.34

%

 

6,070,000

 

1,770,400

 

0.34

%

 

6,070,000

 

87

%

 

53,600

 

0.63

%

 

340,000

Australia

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Boddington Open Pit, Western Australia (7)

 

100

%

 

234,800

 

0.09

%

 

220,000

 

246,200

 

0.11

%

 

270,000

 

481,000

 

0.10

%

 

490,000

 

78

%

 

480,700

 

0.10

%

 

490,000

Boddington Stockpiles, Western Australia (8)

 

100

%

 

3,900

 

0.09

%

 

 

81,400

 

0.09

%

 

70,000

 

85,300

 

0.09

%

 

70,000

 

72

%

 

93,000

 

0.08

%

 

70,000

TOTAL AUSTRALIA

 

 

 

238,700

 

0.09

%

 

220,000

 

327,600

 

0.10

%

 

340,000

 

566,300

 

0.10

%

 

560,000

 

78

%

 

573,700

 

0.10

%

 

560,000

Nevada

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NGM, Nevada (9)

 

38.5

%

 

17,100

 

0.19

%

 

30,000

 

80,000

 

0.17

%

 

140,000

 

97,100

 

0.18

%

 

170,000

 

65

%

 

 

 

 

Phoenix, Nevada (10)

 

100

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

220,500

 

0.18

%

 

400,000

TOTAL NEVADA

 

 

 

17,100

 

0.19

%

 

30,000

 

80,000

 

0.17

%

 

140,000

 

97,100

 

0.18

%

 

170,000

 

65

%

 

220,500

 

0.18

%

 

400,000

TOTAL NEWMONT

 

 

 

255,800

 

0.10

%

 

250,000

 

2,178,000

 

0.30

%

 

6,550,000

 

2,433,800

 

0.28

%

 

6,800,000

 

86

%

 

847,800

 

0.15

%

 

1,300,000

(1)

See footnote (1) to the Gold Reserves table above. Copper reserves for 2019 were calculated at a copper price of $2.75 per pound. Copper reserves for 2018 were calculated at a copper price of $2.50 per pound.

(2)

See footnote (2) to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.

(3)

See footnote (3) to the Gold Reserves table above. Tonnes may not recalculate as they are rounded to the nearest 10,000.

(4)

Copper cut-off grade varies with level of gold and silver credits.

(5)

Project is currently undeveloped. Reserve estimates provided by the NuevaUnión joint venture.

(6)

Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture.

(7)

Copper cut-off grade varies with level of gold credits.

(8)

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

(9)

Reserve estimates provided by Barrick, the operator of the NGM joint venture.

(10)

Property was contributed to NGM on July 1, 2019.

 

Attributable Copper Mineral Resources (1)(2) - December 31, 2019, Metric Units

 

 

 

 

Measured Resource

 

Indicated Resource

 

Measured and Indicated Resource (3)

 

Inferred Resource

 

 

Newmont

 

Tonnage

 

Grade

 

Copper

 

Tonnage

 

Grade

 

Copper

 

Tonnage

 

Grade

 

Copper

 

Tonnage

 

Grade

 

Copper

Deposits/Districts

 

Share

 

(x1000 tonnes)

 

(Cu%)

 

(tonnes)

 

(x1000 tonnes)

 

(Cu%)

 

(tonnes)

 

(x1000 tonnes)

 

(Cu%)

 

(tonnes)

 

(x1000 tonnes)

 

(Cu%)

 

(tonnes)

North America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Galore Creek, Canada (4)

 

50

%

 

128,400

 

0.72

%

 

920,000

 

423,400

 

0.39

%

 

1,640,000

 

551,800

 

0.47

%

 

2,560,000

 

99,100

 

0.27

%

 

260,000

TOTAL NORTH AMERICA

 

 

 

128,400

 

0.72

%

 

920,000

 

423,400

 

0.39

%

 

1,640,000

 

551,800

 

0.47

%

 

2,560,000

 

99,100

 

0.27

%

 

260,000

South America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Conga, Peru

 

51.35

%

 

 

 

 

 

356,300

 

0.26

%

 

930,000

 

356,300

 

0.26

%

 

930,000

 

118,400

 

0.19

%

 

220,000

Yanacocha Open Pits and Stockpiles

 

51.35

%

 

1,600

 

0.32

%

 

10,000

 

1,300

 

0.33

%

 

 

2,900

 

0.32

%

 

10,000

 

2,000

 

0.44

%

 

10,000

Yanacocha Underground

 

51.35

%

 

 

 

 

 

1,600

 

0.07

%

 

 

1,600

 

0.07

%

 

 

5,100

 

0.12

%

 

Total Yanacocha, Peru

 

 

 

1,600

 

0.32

%

 

10,000

 

2,900

 

0.16

%

 

 

4,500

 

0.20

%

 

10,000

 

7,100

 

0.19

%

 

10,000

NuevaUnión, Chile (5)

 

50

%

 

162,800

 

0.19

%

 

310,000

 

307,400

 

0.33

%

 

1,010,000

 

470,200

 

0.28

%

 

1,320,000

 

629,200

 

0.37

%

 

2,310,000

Norte Abierto, Chile (6)

 

50

%

 

57,600

 

0.24

%

 

140,000

 

551,200

 

0.19

%

 

1,060,000

 

608,800

 

0.20

%

 

1,200,000

 

361,800

 

0.18

%

 

650,000

Alumbrera, Argentina (7)

 

37.5

%

 

45,700

 

0.37

%

 

170,000

 

6,700

 

0.25

%

 

20,000

 

52,400

 

0.36

%

 

190,000

 

2,700

 

0.21

%

 

TOTAL SOUTH AMERICA

 

 

 

267,700

 

0.23

%

 

630,000

 

1,224,500

 

0.25

%

 

3,020,000

 

1,492,200

 

0.24

%

 

3,650,000

 

1,119,200

 

0.29

%

 

3,190,000

Australia

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Boddington, Western Australia

 

100

%

 

101,300

 

0.11

%

 

110,000

 

257,300

 

0.12

%

 

300,000

 

358,600

 

0.12

%

 

410,000

 

6,200

 

0.09

%

 

TOTAL AUSTRALIA

 

 

 

101,300

 

0.11

%

 

110,000

 

257,300

 

0.12

%

 

300,000

 

358,600

 

0.12

%

 

410,000

 

6,200

 

0.09

%

 

Nevada

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NGM, Nevada (8)

 

38.5

%

 

9,800

 

0.16

%

 

20,000

 

80,100

 

0.14

%

 

110,000

 

89,900

 

0.14

%

 

130,000

 

11,500

 

0.15

%

 

20,000

TOTAL NEVADA

 

 

 

9,800

 

0.16

%

 

20,000

 

80,100

 

0.14

%

 

110,000

 

89,900

 

0.14

%

 

130,000

 

11,500

 

0.15

%

 

20,000

TOTAL NEWMONT

 

 

 

507,200

 

0.33

%

 

1,680,000

 

1,985,300

 

0.26

%

 

5,070,000

 

2,492,500

 

0.27

%

 

6,750,000

 

1,236,000

 

0.28

%

 

3,470,000

(1)

Resources are reported exclusive of reserves.

(2)

Resources are calculated at a copper price of $3.25 per pound for 2019 and 2018. Tonnage amounts have been rounded to the nearest 100,000.

(3)

Measured and Indicated Resources (combined) are equivalent to Mineralized Material disclosed in Newmont’s Form 10-K filing.

(4)

Project is currently undeveloped. Resource estimates provided by Teck.

(5)

Project is currently undeveloped. Resource estimates provided by the NuevaUnión joint venture.

(6)

Project is currently undeveloped. Resource estimates provided by the Norte Abierto joint venture.

(7)

Resource estimates provided by Glencore.

(8)

Resource estimates provided by Barrick, the operator of the NGM joint venture.

 

Attributable Proven, Probable and Combined Silver Reserves (1) Metric Units

 

December 31, 2019

 

December 31, 2018

 

 

 

 

Proven Reserves

 

Probable Reserves

 

Proven and Probable Reserves

 

 

 

Proven and Probable Reserves

 

 

Newmont

 

Tonnage (2)

 

Grade

 

Silver (3)

 

Tonnage (2)

 

Grade

 

Silver (3)

 

Tonnage (2)

 

Grade

 

Silver (3)

 

Metallurgical

 

Tonnage (2)

 

Grade

 

Silver (3)

Deposits/Districts

 

Share

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

 

Recovery (3)

 

(x1000 tonnes)

 

(g/tonne)

 

(x1000 ozs)

North America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Peñasquito Open Pits, Mexico (4)

 

100%

 

105,200

 

37.43

 

126,630

 

304,500

 

32.25

 

315,830

 

409,700

 

33.58

 

442,460

 

90%

 

 

 

 

Peñasquito Stockpiles, Mexico (5)

 

100%

 

4,500

 

53.29

 

7,730

 

27,300

 

24.10

 

21,170

 

31,800

 

28.24

 

28,900

 

86%

 

 

 

 

TOTAL NORTH AMERICA

 

 

 

109,700

 

38.08

 

134,360

 

331,800

 

31.58

 

337,000

 

441,500

 

33.20

 

471,360

 

89%

 

 

 

 

South America

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Yanacocha Open Pits and Underground, Peru (6)

 

51.35%

 

4,500

 

10.22

 

1,500

 

56,700

 

18.43

 

33,600

 

61,200

 

17.84

 

35,100

 

46%

 

66,600

 

16.73

 

35,820

Yanacocha Stockpiles, Peru (5)

 

51.35%

 

1,200

 

39.85

 

1,640

 

1,400

 

41.74

 

1,920

 

2,600

 

40.85

 

3,560

 

58%

 

3,600

 

39.20

 

4,510

Yanacocha Leach Pads, Peru (7)

 

51.35%

 

 

 

 

 

53,000

 

8.19

 

13,950

 

53,000

 

8.19

 

13,950

 

6%

 

49,600

 

8.50

 

13,460

Total Yanacocha, Peru

 

 

 

5,700

 

17.13

 

3,140

 

111,100

 

13.85

 

49,470

 

116,800

 

14.01

 

52,610

 

36%

 

119,800

 

 

 

53,790

Cerro Negro, Argentina (8)

 

100%

 

1,100

 

98.48

 

3,400

 

7,300

 

76.70

 

17,940

 

8,400

 

79.51

 

21,340