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

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

February 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)

“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	75%	—		—
Pueblo Viejo, Dominican Republic ⁽⁹⁾	40%	6,700	14.45	3,130	40,900	16.30	21,440	47,600	16.04	24,570	77%	—		—
NuevaUnión, Chile ⁽¹⁰⁾	50%	—		—	776,900	1.54	38,440	776,900	1.54	38,440