Mission Statement, Vision, & Core Values (2024) of Newmont Corporation (NEM).

An Overview of Newmont Corporation (NEM)

General Summary of Newmont Corporation (NEM)

Newmont Corporation (NEM) is a leading gold mining company with a rich history dating back to 1921. The company has evolved into one of the largest producers of gold and other metals, including copper, silver, lead, and zinc. Newmont operates in various regions globally, including North America, South America, Australia, and Africa. Its primary products include gold and copper, with significant operations in mines such as Peñasquito in Mexico, Boddington in Australia, and Yanacocha in Peru.

As of 2024, Newmont's sales have shown substantial growth, with total sales reaching $13.03 billion for the nine months ended September 30, 2024, compared to $7.86 billion for the same period in 2023. The breakdown of sales by product for the nine months ended September 30, 2024, is as follows:

Company's Financial Performance in the Latest Financial Reports

Newmont's financial performance for the third quarter of 2024 reflects a remarkable recovery and growth trajectory. The company reported net income from continuing operations attributable to Newmont stockholders of $873 million, or $0.76 per diluted share, an increase from $157 million, or $0.20 per diluted share, in the third quarter of 2023. This represents a year-over-year increase of over 450% in net income.

During the nine months ended September 30, 2024, Newmont achieved:

• Net income of $1,892 million compared to $666 million in 2023.
• Adjusted EBITDA of $5,627 million, up from $2,833 million in the previous year, marking a growth of 99%.
• Free cash flow of $1,280 million, a significant increase from $392 million in 2023.

The company's sales performance in the third quarter of 2024 was substantial, with total sales of $4.61 billion, a significant increase from $2.49 billion in the same quarter of 2023. The sales breakdown for the third quarter of 2024 is as follows:

Introduction to Newmont as a Leader in the Industry

Newmont Corporation stands as a pillar in the mining industry, recognized for its commitment to sustainability and responsible mining practices. The company has consistently ranked among the top gold producers globally, leveraging advanced technologies and operational efficiencies to enhance production and reduce costs. Newmont's strategic focus on growth through acquisitions, such as the recent Newcrest transaction, has expanded its portfolio and solidified its position as a leader in the sector.

In 2024, Newmont's operations have been bolstered by a strong market demand for gold and copper, with the company poised to capitalize on favorable pricing trends. Investors and stakeholders are encouraged to explore more about Newmont's innovative practices and strategic initiatives that contribute to its sustained success in the mining industry.

Mission Statement of Newmont Corporation (NEM)

Mission Statement of Newmont Corporation (NEM)

Newmont Corporation's mission statement is a pivotal element that defines its operational ethos and long-term strategic direction. The mission emphasizes the company’s commitment to responsible mining practices, delivering value to stakeholders, and maintaining high standards in safety and sustainability. This guiding principle is essential for aligning the company's actions with its core objectives, promoting both financial performance and corporate responsibility.

Core Component 1: Responsible Mining

Newmont is dedicated to responsible mining, which involves minimizing the environmental impact of its operations while maximizing the economic benefits to local communities. The company aims to adhere to strict environmental regulations and standards, ensuring that its mining practices do not compromise the integrity of ecosystems.

As of September 30, 2024, Newmont reported a total production of 1.7 million attributable ounces of gold and 430 thousand attributable gold equivalent ounces from co-products. This production level is indicative of the company's operational efficiency and commitment to sustainable practices, as it integrates environmental stewardship into its mining processes.

Core Component 2: Delivering Value to Stakeholders

Newmont prioritizes delivering value to its stakeholders, which include shareholders, employees, and the communities in which it operates. The company aims to create long-term financial returns through operational excellence and strategic investments in its mining assets.

In the third quarter of 2024, Newmont's net income attributable to stockholders was reported at $922 million, or $0.80 per diluted share, reflecting a significant increase from the previous year's quarter. This financial performance underscores the company's ability to generate value through effective management and operational strategies.

Additionally, Newmont declared a cash dividend of $0.25 per share in October 2024, demonstrating its commitment to returning value to shareholders. This consistent dividend policy reinforces investor confidence and reflects the company's robust financial health.

Core Component 3: Commitment to Safety and Sustainability

Safety and sustainability are at the heart of Newmont's mission. The company emphasizes the importance of maintaining a safe work environment for its employees and contractors while also committing to sustainable practices that protect the environment and promote community well-being.

As part of its safety initiatives, Newmont has invested in advanced technologies and training programs aimed at minimizing workplace incidents. The company reported a 78% increase in net cash provided by operating activities to $3.8 billion for the nine months ended September 30, 2024, which allows for further investments in safety and sustainability initiatives.

Furthermore, Newmont's all-in sustaining costs per ounce of gold sold increased to $1,611 in Q3 2024, reflecting the company's focus on sustainable operations and long-term viability. This investment in sustainable practices is crucial for maintaining operational integrity and stakeholder trust.

Vision Statement of Newmont Corporation (NEM)

Vision Statement of Newmont Corporation (NEM)

The vision statement of Newmont Corporation as of 2024 is centered around the commitment to sustainable and responsible mining practices, with a focus on creating long-term value for stakeholders.

Newmont emphasizes its dedication to sustainable mining by integrating environmental, social, and governance (ESG) principles into its operations. The company aims to minimize its ecological footprint while maximizing community benefits.

Newmont's vision includes leveraging innovative technologies to enhance operational efficiencies and safety. The adoption of automation and advanced data analytics is aimed at improving productivity and reducing operational risks.

Newmont seeks to foster strong relationships with stakeholders, including local communities, governments, and investors. The company aims to involve stakeholders in decision-making processes to ensure mutual benefits.

Newmont's financial vision is to achieve sustainable growth and profitability through disciplined capital allocation and operational excellence. The company aims to enhance shareholder value by maintaining a strong balance sheet and generating free cash flow.

Newmont aspires to maintain its position as a global leader in gold production. The company focuses on optimizing its portfolio of assets to ensure consistent production levels and resource management.

Core Values of Newmont Corporation (NEM)

Safety

The core value of safety at Newmont Corporation underlines the company's commitment to protecting its employees, contractors, and communities. Newmont emphasizes a culture of safety that prioritizes health and well-being in all operations.

In 2024, Newmont reported a Total Recordable Injury Frequency Rate (TRIFR) of 0.31, indicating a strong focus on minimizing workplace accidents. The company has implemented various safety initiatives, including the Safety Leadership Program, which trains leaders to engage employees in safety practices proactively. Moreover, in response to incidents, such as the tragic fatalities at Cerro Negro, Newmont suspended operations to conduct thorough investigations, demonstrating its commitment to safety and continuous improvement.

Sustainability

Newmont's sustainability value reflects its dedication to responsible mining practices that minimize environmental impact while maximizing social benefits. The company aims to create long-term value through sustainable practices across its operations.

In 2024, Newmont invested approximately $324 million in reclamation and remediation efforts, underscoring its commitment to restoring mined land. Additionally, the company has set a target to reduce greenhouse gas emissions by 30% by 2030, aligning with global climate goals. Newmont's operations in Peru and Suriname have also focused on water conservation, with initiatives to recycle water and implement efficient water management systems.

Integrity

Integrity at Newmont signifies the importance of ethical conduct and transparency in all business dealings. Upholding integrity fosters trust among stakeholders and enhances the company's reputation.

In 2024, Newmont reinforced its integrity value through the implementation of a robust ethics and compliance program. The company reported zero incidents of corruption or unethical behavior, reflecting its commitment to ethical operations. Newmont also engages with local communities to ensure transparency in its mining activities, providing updates and involving them in decision-making processes.

Respect

Respect is a core value that emphasizes the importance of valuing diversity and fostering a culture of inclusion. Newmont recognizes the significance of building strong relationships with employees, communities, and stakeholders.

In 2024, Newmont launched several initiatives aimed at promoting diversity and inclusion within the workforce. The company achieved a workforce diversity rate of 38% in leadership positions, showcasing its commitment to creating an inclusive environment. Additionally, Newmont's community engagement programs focus on respecting local cultures and traditions while supporting economic development.

Financial Performance Overview

Newmont's financial metrics highlight the company's robust performance in 2024, driven by increased gold production and higher average realized prices, reflecting its commitment to operational excellence and stakeholder value.

Article updated on 8 Nov 2024

Resources:

• Newmont Corporation (NEM) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Newmont Corporation (NEM)' financial performance, including balance sheets, income statements, and cash flow statements.
• SEC Filings – View Newmont Corporation (NEM)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.