Cache Valley Information

Cache Valley's Information Source

Newmont Announces Third Quarter 2018 Results

DENVER–(BUSINESS WIRE)–Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company)
announced third quarter 2018 results.

  • Net income (loss): Delivered GAAP net income (loss) from
    continuing operations attributable to stockholders of $(161) million
    or $(0.31) per diluted share; delivered adjusted net income1
    of $175 million or $0.33 per diluted share, down $0.01 compared
    to the prior year quarter
  • EBITDA: Generated $636 million in adjusted EBITDA2,
    down $20 million from the prior year quarter
  • Cash flow: Reported consolidated cash flow from continuing
    operations of $428 million and free cash flow3 of $154
    million
  • Gold costs applicable to sales (CAS)4: Reported
    CAS of $691 per ounce, lower than the Company’s full year guidance
  • Gold all-in sustaining costs (AISC)5: Reported
    AISC of $927 per ounce, lower than the Company’s full year guidance
  • Attributable gold production: Produced 1.29 million
    ounces of gold, in line with the Company’s full year guidance
  • Portfolio improvements: Completed the CC&V concentrates project
    in North America; commissioned the primary crusher at Merian in South
    America; advanced the Tanami Expansion 2 project to definitive
    feasibility study in Australia; formed a strategic partnership with
    Evrim Resources in the Cuale gold project in Mexico; expanded regional
    exploration activities with an investment in Orosur Mining and an
    opportunity to participate in Miranda Gold’s Lyra project in Colombia
  • Financial strength: Ended the quarter with $3.1 billion cash on
    hand and net debt of $1.1 billion; an industry-leading balance sheet
    with investment-grade credit profile; and a quarterly dividend
    declared of $0.14 per share, an increase of 87 percent over the prior
    year quarter
  • Outlook: Improved 2018 corporate-level AISC per ounce and
    narrowed production outlook

“Newmont delivered $636 million in adjusted EBITDA and $154 million in
free cash flow in the third quarter on the back of ongoing productivity
improvements across the portfolio and higher grades in Africa and South
America,” said Gary J. Goldberg, President and Chief Executive Officer.
“We continued to advance profitable projects as we completed the CC&V
concentrates project and commissioned the primary crusher at Merian,
safely, on budget and on schedule. And we increased investment in
Quecher Main, Subika Underground and the Ahafo Mill expansion during the
period while increasing our dividend for the third quarter by 87
percent.”

Third Quarter 2018 Summary Results

Net income (loss) from continuing operations attributable to
Newmont stockholders of $(161) million or $(0.31) per diluted share, a
decrease of $374 million from the prior year quarter primarily due to
the impairment of exploration and long-lived assets in North America and
lower metal prices, partially offset by lower income tax expense.

Adjusted net income was $175 million or $0.33 per diluted share,
compared to $184 million or $0.34 per diluted share in the prior
year quarter resulting from lower metal prices. Primary adjustments to
net income include $0.74 per diluted share related to impairments and a
write-down in North America, $(0.14) per diluted share related to net
tax adjustments and valuation allowances, and $0.04 per diluted share
related to the change in fair value of marketable equity securities and
a gain on asset and investment sales.

Revenue decreased eight percent to $1,726 million for the quarter
primarily due to lower average realized gold prices and lower production
at various sites.

Average realized price6 for gold was $1,201, a
reduction of $75 per ounce over the prior year quarter; average realized
price for copper was $2.50 per pound, a reduction of $0.56 over the
prior year quarter.

Attributable gold production decreased four percent to 1.29
million ounces primarily due to lower mill throughput at Carlin, lower
leach production at CC&V, and lower grades at KCGM. These impacts were
partially offset by higher grades at Ahafo, Yanacocha and Tanami.

Gold CAS decreased four percent to $691 per ounce for the quarter
due to a lower co-product allocation of costs to gold based on a lower
relative gold sales value and a favorable Australian dollar foreign
currency exchange rate, partially offset by lower ounces sold.

Gold AISC decreased one percent to $927 per ounce for the quarter
as lower CAS was offset by higher sustaining capital spend.

Attributable copper production from Phoenix and Boddington was
12,000 tonnes for the quarter, in line with the prior year period. Copper
CAS
increased 12 percent to $1.54 per pound for the quarter
primarily due to a higher co-product allocation of costs to copper. Copper
AISC
increased 13 percent to $1.87 per pound for the quarter
primarily due to higher CAS.

Capital expenditures7 increased by 41 percent from the
prior year quarter to $274 million with increased investment in Quecher
Main, Subika Underground, and the Ahafo Mill expansion.

Consolidated operating cash flow from continuing operations decreased
12 percent from the prior year quarter to $428 million primarily due to
lower metal prices, coupled with unfavorable changes in working capital
which were partially offset by higher payments attributable to interest
in 2017 related to the repayment of convertible debt. Free cash flow
decreased 48 percent from the prior year quarter to $154 million from
lower operating cash flow and higher investment in growth projects.

Balance sheet ended the quarter with $3.1 billion cash on hand, a
leverage ratio of 0.4x net debt to adjusted EBITDA and one of the best
credit ratings in the mining sector. The Company is committed to
maintaining an investment-grade credit profile.

Projects update

Newmont’s capital-efficient project pipeline supports stable production
with improving margins and mine life. Near-term development capital
projects are presented below. Funding for Subika Underground, Ahafo Mill
Expansion, Quecher Main and Tanami Power projects has been approved and
these projects are in execution. Additional projects represent
incremental improvements to production and cost guidance. Internal rates
of return (IRR) on these projects are calculated at a $1,200 gold price.

  • Subika Underground (Africa) leverages
    existing infrastructure and an optimized approach to develop Ahafo’s
    most promising underground resource. First production was achieved in
    June 2017 with commercial production expected in the fourth quarter of
    2018. The project is expected to increase average annual gold
    production by between 150,000 and 200,000 ounces per year for the
    first five years beginning in 2019 with an initial mine life of
    approximately 11 years. Capital costs for the project are estimated
    between $160 and $200 million with expenditure of between $100 and
    $110 million in 2018. The project has an IRR of more than 20 percent.
  • Ahafo Mill Expansion (Africa) is designed
    to maximize resource value by improving production margins and
    accelerating stockpile processing. The project also supports
    profitable development of Ahafo’s highly prospective underground
    resources. First production is expected in the second half of 2019
    with commercial production also expected in the second half of 2019.
    The expansion is expected to increase average annual gold production
    by between 75,000 and 100,000 ounces per year for the first five years
    beginning in 2020. Capital costs for the project are estimated between
    $140 and $180 million with expenditure of approximately $75 to $85
    million in 2018. The project has an IRR of more than 20 percent.

    Together
    the Ahafo expansion projects (Ahafo Mill Expansion and Subika
    Underground) improve Ahafo’s production to between 550,000 and 650,000
    ounces per year for the first five full years of production (2020 to
    2024). During this period Ahafo’s CAS is expected to be between $650
    and $750 per ounce and AISC is expected to be between $800 and $900
    per ounce. This represents average production improvement of between
    200,000 and 300,000 ounces at CAS improvement of between $150 and $250
    per ounce and AISC improvement of $250 to $350 per ounce, compared to
    2016 actuals.

  • Quecher Main (South America) will add
    oxide production at Yanacocha, leverage existing infrastructure and
    enable potential future growth at Yanacocha. First production is
    expected in late 2018 with commercial production in the second half of
    2019. Quecher Main extends the life of the Yanacocha operation to 2027
    with average annual gold production of approximately 200,000 ounces
    per year between 2020 and 2025 (100 percent basis). During the same
    period incremental CAS is expected to be between $750 and $850 per
    ounce and AISC between $900 and $1,000 per ounce. Capital costs for
    the project are expected to be between $250 and $300 million with
    expenditure of $90 to $95 million in 2018. The project IRR is expected
    to be greater than 10 percent.
  • Tanami Power (Australia) will lower
    Tanami power costs by approximately 20 percent beginning in the first
    quarter of 2019, mitigate fuel supply risk and reduce carbon emissions
    by 20 percent. The project includes a 450 kilometer natural gas
    pipeline to be constructed connecting the Tanami site to the Amadeus
    Gas Pipeline, and construction and operation of two on-site power
    stations. The gas supply, gas transmission and power purchase
    agreements are for a 10 year term with options to extend. The project
    is expected to result in net cash savings of approximately $34 per
    ounce beginning in 2019. Capital costs are estimated between $225 and
    $275 million with annual cash lease payments over a 10 year term
    beginning in 2019 with approximately $6 million of owner’s costs in
    2018. The project IRR is expected to be greater than 50 percent at
    $0.75 AUD.
_____________________

1

 

Non-GAAP measure. See end of this release for reconciliation to
Net income (loss) attributable to Newmont stockholders.

2

Non-GAAP measure. See end of this release for reconciliation to
Net income (loss) attributable to Newmont stockholders.

3

Non-GAAP measure. See end of this release for reconciliation to
Net cash provided by operating activities.

4

Non-GAAP measure. See end of this release for reconciliation to
Costs applicable to sales.

5

Non-GAAP measure. See end of this release for reconciliation to
Costs applicable to sales.

6

Non-GAAP measure. See end of this release for reconciliation to
Sales.

7

Capital expenditures refers to Additions to property plant and
mine development from the Condensed Consolidated Statements of
Cash Flows.

 
 

Outlook

Newmont’s outlook reflects stable gold production and ongoing investment
in its operating assets and most promising growth prospects. Longer term
guidance is expected to be updated on December 5, 2018.

Attributable gold production is lowered – Production guidance is
narrowed to between 4.9 and 5.2 million ounces in 2018.

  • North America production is reduced to between 1.9 and 2.1 million
    ounces in 2018 due to lower production at Carlin’s surface mines.
  • South America production remains between 615,000 and 675,000 ounces in
    2018 supported by higher grades at Yanacocha and improving
    productivity at Merian.
  • Australia production remains between 1.4 and 1.6 million ounces in
    2018 as improved grade and productivity at Tanami help to offset
    geotechnical challenges at KCGM.
  • Africa production remains between 815,000 and 875,000 ounces in 2018
    supported by steady production at Ahafo and Akyem and Subika
    Underground reaching commercial production in the fourth quarter of
    2018.

Total gold cost outlook is improved – CAS in 2018 is unchanged
between $700 and $750 per ounce and AISC is narrowed to between $950 and
$990 per ounce in 2018.

  • North America CAS is now expected to be between $750 and $800 per
    ounce driven by lower production at Carlin. AISC remains unchanged
    between $920 and $995 per ounce in 2018.
  • South America cost guidance remains unchanged. CAS remains between
    $675 and $735 per ounce and AISC remains between $925 and $1,025 per
    ounce in 2018.
  • Australia cost guidance remains unchanged. CAS remains between $695
    and $745 per ounce and AISC remains between $850 and $910 per ounce.
  • Africa cost guidance improves with lower than expected inventory
    adjustments at Akyem. Africa CAS is now expected to be between $650
    and $690 per ounce with AISC of between $820 and $860 per ounce in
    2018.

Copper – Attributable production remains unchanged between
40,000 and 60,000 tonnes in 2018. CAS remains unchanged between $1.65
and $1.85 per pound in 2018. AISC remains unchanged between $2.00 and
$2.20 per pound in 2018.

Capital – Total capital remains unchanged between $1,200 and
$1,300 million for 2018. Primary development capital includes
expenditure on the Ahafo Mill and Subika Underground expansions in
Africa, Twin Underground in North America and Quecher Main in South
America and Tanami Power Project in Australia. Sustaining capital
remains unchanged between $600 and $700 million in 2018.

Consolidated expense outlook – Interest expense for 2018 remains
unchanged between $175 and $215 million and investment in exploration
and advanced projects remains unchanged between $350 and $400 million.
2018 outlook for general & administrative costs remains between $225 and
$250 million. Guidance for depreciation and amortization remains
unchanged between $1,225 and $1,325 million.

Assumptions and sensitivities Newmont’s outlook assumes
$1,200 per ounce gold price, $2.50 per pound copper price, $0.75 USD/AUD
exchange rate and $65 per barrel WTI oil price. A $100 per ounce
increase in gold price would deliver an expected $335 million
improvement in attributable free cash flow. Similarly, a $10 per barrel
reduction in the price of oil and a $0.05 favorable change in the
Australian dollar would deliver an expected $25 million and $45 million
improvement in attributable free cash flow, respectively. These
estimates exclude current hedge programs; please refer to Newmont’s Form
10-Q which was filed with the SEC on October 25, 2018 for further
information on hedging positions.

2018 Outlooka
                Consolidated    
All-in Consolidated
Consolidated Attributable Consolidated Sustaining Total Capital
Production Production CAS Costsb Expenditures
      (Koz, Kt)     (Koz, Kt)     ($/oz, $/lb)     ($/oz, $/lb)     ($M)
North America
Carlin 880 960 880 960 835 885 1,000 1,060 155 190
Phoenixc 210 230 210 230 810 860 990 1,050 20 30
Twin Creeksd 315 345 315 345 700 750 875 925 80 100
CC&V 345 395 345 395 670 725 800 860 30 40
Long Canyon 130 170 130 170 510 560 605 655 10 20
Other North America                                             10 20
Total 1,950 2,080 1,950 2,080 750 800 920 995 300 380
 
South America
Yanacochae 470 545 240 280 885 925 1,125 1,175 110 140
Meriane 485 540 365 405 455 495 580 630 55 95
Other South America                                                  
Total 970 1,070 615 675 675 735 925 1,025 170 230
 
Australia
Boddington 665 715 665 715 770 820 880 930 60 75
Tanami 440 515 440 515 535 605 705 775 300i 380i
Kalgoorlief 280 330 280 330 715 765 825 875 20 30
Other Australia                                             5 15
Total 1,420 1,560 1,420 1,560 695 745 850 910 400i 480i
 
Africa
Ahafo 435 465 435 465 780 835 900 980 195 240
Akyem 380 410 380 410 535 575 690 740 30 40
Other Africa                                                  
Total 815 875 815 875 650 690 820 860 225 275
 
Corporate/Other                                             10 15
Total Goldg     5,300 5,600     4,900 5,200     700 750     950 990     1,200 1,300
 
Phoenix 10 20 10 20 1.50 1.70 1.85 2.05
Boddington     30 40     30 40     1.75 1.95     2.05 2.25          
Total Copper     40 60     40 60     1.65 1.85     2.00 2.20          
 
2018 Consolidated Expense Outlookh
General & Administrative         $ 225     $ 250
Interest Expense $ 175 $ 215
Depreciation and Amortization $ 1,225 $ 1,325
Advanced Projects & Exploration $ 350 $ 400
Sustaining Capital $ 600 $ 700
Tax Ratej           28%       34%

a

 

2018 Outlook in the table above are considered “forward-looking
statements” and are based upon certain assumptions, including, but
not limited to, metal prices, oil prices, certain exchange rates
and other assumptions. For example, 2018 Outlook assumes $1,200/oz
Au, $2.50/lb Cu, $0.75 USD/AUD exchange rate and $65/barrel WTI;
AISC and CAS estimates do not include inflation, for the remainder
of the year. Production, CAS, AISC and capital estimates exclude
projects that have not yet been approved. The potential impact on
inventory valuation as a result of lower prices, input costs, and
project decisions are not included as part of this Outlook. Such
assumptions may prove to be incorrect and actual results may
differ materially from those anticipated. See cautionary note at
the end of the release.

b

All-in sustaining costs or AISC as used in the Company’s
Outlook is a non-GAAP metric defined as the sum of costs
applicable to sales (including all direct and indirect costs
related to current production incurred to execute on the current
mine plan), reclamation costs (including operating accretion and
amortization of asset retirement costs), G&A, exploration expense,
advanced projects and R&D, treatment and refining costs, other
expense, net of one-time adjustments and sustaining capital. See
reconciliation at the end of this release.

c

Includes Lone Tree operations.

d

Includes TRJV operations shown on a pro-rata basis with a 25%
ownership interest.

e

Consolidated production for Yanacocha and Merian is presented
on a total production basis for the mine site; attributable
production represents a 51.35% interest for Yanacocha and a 75%
interest for Merian.

f

Both consolidated and attributable production are shown on a
pro-rata basis with a 50% ownership for Kalgoorlie.

g

Production outlook does not include equity production from
stakes in TMAC (28.68%) or La Zanja (46.94%).

h

Consolidated expense outlook is adjusted to exclude
extraordinary items. For example, the tax rate outlook above is a
consolidated adjusted rate, which assumes the exclusion of certain
tax valuation allowance adjustments.

i

Includes $225-$275M for a capital lease related to the Tanami
Power Project paid over a 10 year term beginning in 2019.

j

Assuming average prices of $1,300 per ounce for gold and $2.70
per pound for copper and achievement of current production and
sales volumes and cost estimates, we estimate our consolidated
adjusted effective tax rate related to continuing operations for
2018 will be between 28-34%.

 
 
    Three Months Ended September 30,     Nine Months Ended September 30,
Operating Results     2018   2017  

% Change

    2018   2017  

% Change

Attributable Sales (koz, kt)            
Attributable gold ounces sold 1,270 1,313 (3 )% 3,648 3,892 (6 )%
Attributable copper tonnes sold 12 12

% 37 38 (3 )%
 
Average Realized Price ($/oz, $/lb)
Average realized gold price $ 1,201 $ 1,276 (6 )% $ 1,271 $ 1,249 2 %
Average realized copper price     $ 2.50   $ 3.06   (18 )%     $ 2.79   $ 2.71   3 %
 
Attributable Production (koz, kt)
North America 511 573 (11 )% 1,431 1,655 (14 )%
South America 178 169 5 % 463 472 (2 )%
Australia 385 406 (5 )% 1,142 1,167 (2 )%
Africa       212     191   11 %       621     631   (2 )%
Total Gold       1,286     1,339   (4 )%       3,657     3,925   (7 )%
 
North America 3 3

% 10 12 (17 )%
Australia       9     9   %       28     28  

%
Total Copper       12     12   %       38     40   (5 )%
 
CAS Consolidated ($/oz, $/lb)
North America $ 803 $ 742 8 % $ 789 $ 710 11 %
South America $ 636 $ 806 (21 )% $ 704 $ 760 (7 )%
Australia $ 691 $ 670 3 % $ 703 $ 658 7 %
Africa     $ 505   $ 646   (22 )%     $ 670   $ 624   7 %
Total Gold     $ 691   $ 721   (4 )%     $ 729   $ 692   5 %
Total Gold (by-product)     $ 671   $ 690   (3 )%     $ 705   $ 666   6 %
 
North America $ 1.86 $ 1.57 18 % $ 1.91 $ 1.67 14 %
Australia     $ 1.46   $ 1.32   11 %     $ 1.57   $ 1.30   21 %
Total Copper     $ 1.54   $ 1.38   12 %     $ 1.66   $ 1.42   17 %
 
AISC Consolidated ($/oz, $/lb)
North America $ 998 $ 912 9 % $ 997 $ 884 13 %
South America $ 879 $ 1,049 (16 )% $ 953 $ 989 (4 )%
Australia $ 819 $ 821

% $ 841 $ 794 6 %
Africa     $ 713   $ 802   (11 )%     $ 852   $ 782   9 %
Total Gold     $ 927   $ 941   (1 )%     $ 973   $ 908   7 %
Total Gold (by-product)     $ 915   $ 915  

%     $ 956   $ 888   8 %
 
North America $ 2.41 $ 1.71 41 % $ 2.37 $ 1.96 21 %
Australia     $ 1.73   $ 1.63   6 %     $ 1.87   $ 1.58   18 %
Total Copper     $ 1.87   $ 1.65   13 %     $ 2.00   $ 1.70   18 %
 
 
NEWMONT MINING CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited, in millions except per share)
 
    Three Months Ended     Nine Months Ended
September 30, September 30,
2018     2017 2018     2017
 
Sales $ 1,726 $ 1,879 $ 5,205 $ 5,444
 
Costs and expenses
Costs applicable to sales (1) 995 1,053 2,989 3,009
Depreciation and amortization 299 328 879 938
Reclamation and remediation 31 26 96 98
Exploration 48 48 142 135
Advanced projects, research and development 37 41 107 99
General and administrative 59 58 181 171
Impairment of long-lived assets 366 366 3
Other expense, net   5     1     29     29  
  1,840     1,555     4,789     4,482  
Other income (expense)
Other income, net 37 10 197 32
Interest expense, net of capitalized interest   (51 )   (56 )   (153 )   (187 )
  (14 )   (46 )   44     (155 )
Income (loss) before income and mining tax and other items (128 ) 278 460 807
Income and mining tax benefit (expense) (3 ) (73 ) (126 ) (350 )
Equity income (loss) of affiliates   (9 )   1     (25 )   (4 )
Income (loss) from continuing operations (140 ) 206 309 453
Income (loss) from discontinued operations   16     (7 )   56     (45 )
Net income (loss) (124 ) 199 365 408
Net loss (income) attributable to noncontrolling interests   (21 )   7     (26 )   20  
Net income (loss) attributable to Newmont stockholders $ (145 ) $ 206   $ 339   $ 428  
 
Net income (loss) attributable to Newmont stockholders:
Continuing operations $ (161 ) $ 213 $ 283 $ 473
Discontinued operations   16     (7 )   56     (45 )
$ (145 ) $ 206   $ 339   $ 428  
Income (loss) per common share
Basic:
Continuing operations $ (0.31 ) $ 0.39 $ 0.53 $ 0.88
Discontinued operations   0.04     (0.01 )   0.11     (0.08 )
$ (0.27 ) $ 0.38   $ 0.64   $ 0.80  
Diluted:
Continuing operations $ (0.31 ) $ 0.39 $ 0.53 $ 0.88
Discontinued operations   0.04     (0.01 )   0.10     (0.08 )
$ (0.27 ) $ 0.38   $ 0.63   $ 0.80  
 
Cash dividends declared per common share $ 0.14 $ 0.075 $ 0.42 $ 0.175
 

(1) Excludes Depreciation and amortization
and Reclamation and remediation.

 

 
NEWMONT MINING CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited, in millions)
 
    Three Months Ended     Nine Months Ended
September 30, September 30,
2018     2017 2018     2017
Operating activities:
Net income (loss) $ (124 ) $ 199 $ 365 $ 408
Adjustments:
Depreciation and amortization 299 328 879 938
Stock-based compensation 19 18 57 53
Reclamation and remediation 24 24 85 92
Loss (income) from discontinued operations (16 ) 7 (56 ) 45
Deferred income taxes (81 ) 21 (100 ) 97
Impairment of long-lived assets 366 366 3
Gain on asset and investment sales, net (1 ) (5 ) (100 ) (21 )
Write-downs of inventory and stockpiles and ore on leach pads 62 66 220 158
Other operating adjustments 37 16 46 71
Net change in operating assets and liabilities   (157 )   (185 )   (667 )   (453 )
Net cash provided by (used in) operating activities of continuing
operations
428 489 1,095 1,391
Net cash provided by (used in) operating activities of discontinued
operations (1)
  (3 )   (3 )   (8 )   (12 )
Net cash provided by (used in) operating activities   425     486     1,087     1,379  
Investing activities:
Additions to property, plant and mine development (274 ) (194 ) (763 ) (557 )
Acquisitions, net (99 ) (138 )
Proceeds from sales of other assets 18 1 23 5
Purchases of investments (11 ) (17 ) (113 )
Proceeds from sales of investments 1 15 16 34
Other   (2 )       (5 )   13  
Net cash provided by (used in) investing activities   (367 )   (178 )   (884 )   (618 )
 
Financing activities:
Dividends paid to common stockholders (76 ) (40 ) (226 ) (94 )
Distributions to noncontrolling interests (38 ) (39 ) (107 ) (119 )
Repurchase of common stock (26 ) (96 )
Funding from noncontrolling interests 25 24 77 70
Proceeds from sale of noncontrolling interests 48
Payments for withholding of employee taxes related to stock-based
compensation
(39 ) (13 )
Repayment of debt (380 ) (3 ) (383 )
Other               (3 )
Net cash provided by (used in) financing activities   (115 )   (435 )   (346 )   (542 )
Effect of exchange rate changes on cash, cash equivalents and
restricted cash
  (2 )   1     (4 )   3  
Net change in cash, cash equivalents and restricted cash (59 ) (126 ) (147 ) 222
Cash, cash equivalents and restricted cash at beginning of period   3,210     3,130     3,298     2,782  
Cash, cash equivalents and restricted cash at end of period $ 3,151   $ 3,004   $ 3,151   $ 3,004  
 
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents $ 3,068 $ 2,969 $ 3,068 $ 2,969
Restricted cash included in Other current assets 1 1
Restricted cash included in Other noncurrent assets   82     35     82     35  
Total cash, cash equivalents and restricted cash $ 3,151   $ 3,004   $ 3,151   $ 3,004  

Contacts

Newmont Mining Corporation
Investor
Contacts

Jessica Largent, 303-837-5484
jessica.largent@newmont.com
or
Media
Contacts

Omar Jabara, 303-837-5114
omar.jabara@newmont.com

Read full story here