Newmont Corporation (NEM): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el intrincado mundo de Newmont Corporation (NEM), una potencia minera global que transforma la Tierra Raw en recursos valiosos con precisión estratégica. Esta exploración de su lienzo de modelo de negocio revela un tapiz complejo de prácticas mineras sostenibles, asociaciones innovadoras y una creación de valor robusta que posiciona a Newmont a la vanguardia de la industria de los metales preciosos. Desde la investigación geológica de vanguardia hasta la extracción de minerales responsables, el modelo de Newmont demuestra cómo las corporaciones mineras modernas pueden equilibrar el rendimiento económico con la administración ambiental y la participación de la comunidad.

Newmont Corporation (NEM) - Modelo de negocios: asociaciones clave

Alianzas estratégicas con gobiernos locales en regiones mineras

Newmont mantiene asociaciones estratégicas con gobiernos en regiones mineras clave, que incluyen:

País	Región	Detalles de la asociación
Perú	Yanacocha	Propiedad conjunta con el gobierno regional de Cajamarca, 51.35% de la estaca de Newmont
Ghana	Ahafo y Akyem	Colaboración con Ghana National Petroleum Corporation
Australia	Boddington	Asociación con el gobierno de Australia Occidental

Empresas conjuntas con proveedores de tecnología y equipos

Newmont colabora con los principales proveedores de tecnología y equipos:

• Caterpillar Inc.: Contrato de suministro de equipos de $ 250 millones para maquinaria minera
• Sandvik Mining and Rock Solutions: asociación avanzada de tecnología de perforación y excavación
• MetSO OUTOTEC: Equipo de procesamiento de minerales y colaboración de tecnología

Asociaciones con organizaciones de sostenibilidad ambiental

Organización	Área de enfoque	Inversión
Consejo Internacional de Minería y Metales (ICMM)	Prácticas mineras sostenibles	Compromiso anual de $ 5.2 millones
Fondo Mundial de Vida Silvestre (WWF)	Conservación de la biodiversidad	Programa de conservación de $ 3.7 millones

Colaboración con comunidades locales en áreas mineras

Inversiones de asociación comunitaria de Newmont:

• Programas de desarrollo comunitario: $ 42.5 millones en 2023
• Iniciativas de empleo locales: 65% de la fuerza laboral local en las regiones operativas
• Adquisición de proveedores locales: $ 680 millones gastados con negocios locales en 2023

Inversión total de asociación en 2023: aproximadamente $ 311.4 millones

Newmont Corporation (NEM) - Modelo de negocio: actividades clave

Exploración minera de oro y cobre

Newmont Corporation opera actividades de exploración minera en 5 continentes, con sitios de exploración activa en:

Región	Países	Presupuesto de exploración (2023)
América del norte	Estados Unidos, Canadá	$ 195 millones
Sudamerica	Perú, Argentina, Chile	$ 142 millones
África	Ghana, Tanzania	$ 87 millones

Extracción y procesamiento de minerales

Métricas de producción mineral anual para 2023:

• Producción de oro: 6.2 millones de onzas
• Producción de cobre: ​​375,000 toneladas métricas
• Grado de oro promedio: 1.2 gramos por tonelada métrica

Implementación de prácticas mineras sostenibles

Inversiones mineras sostenibles en 2023:

Iniciativa de sostenibilidad	Monto de la inversión
Reducción de emisiones de carbono	$ 287 millones
Gestión del agua	$ 64 millones
Desarrollo comunitario	$ 42 millones

Investigación geológica y desarrollo del sitio

Gastos de investigación y desarrollo:

• Gasto total de I + D: $ 98 millones en 2023
• Inversión de tecnologías de mapeo geológico: $ 22 millones
• Desarrollo de tecnología de exploración: $ 35 millones

Gestión de reserva mineral

Estadísticas de reserva mineral para 2023:

Tipo mineral	Reservas totales	Años estimados de producción
Oro	94.8 millones de onzas	15.3 años
Cobre	8.7 millones de toneladas métricas	23.2 años

Newmont Corporation (NEM) - Modelo de negocios: recursos clave

Extensa cartera de minería global

A partir de 2024, Newmont opera 9 sitios mineros activos en 5 países:

País	Número de minas	Minerales primarios
Estados Unidos	3	Oro, plata
Canadá	1	Oro
Perú	2	Oro, cobre
Ghana	2	Oro
Australia	1	Oro

Tecnología y equipo de minería avanzada

Gasto de capital para tecnología y equipo en 2023: $ 1.6 mil millones

• Sistemas de perforación autónomos
• Tecnologías avanzadas de mapeo geológico
• Equipo de extracción mineral de alta precisión
• Sistemas de mantenimiento predictivo impulsados ​​por IA

Fuerza laboral geológica e ingeniería calificada

Fuerza laboral total a partir de 2023: 14,300 empleados

Categoría de empleado	Número	Porcentaje
Geólogos	1,750	12.2%
Ingenieros mineros	2,100	14.7%
Personal técnico	3,600	25.2%
Personal de operaciones	6,850	47.9%

Reservas minerales significativas y derechos de exploración

Reservas minerales a partir de 2023:

• Reservas de oro: 96.4 millones de onzas
• Reservas de cobre: ​​3.800 millones de libras
• Reservas de plata: 127 millones de onzas

Capacidades de capital financiero y de inversión sólidos

Métricas financieras para 2023:

Métrica financiera	Cantidad
Activos totales	$ 55.3 mil millones
Equivalentes de efectivo y efectivo	$ 4.2 mil millones
Deuda total	$ 6.8 mil millones
Inversión de capital anual	$ 2.1 mil millones

Newmont Corporation (NEM) - Modelo de negocio: propuestas de valor

Extracción mineral responsable y sostenible

Newmont Corporation produjo 6.0 millones de onzas de oro en 2022, con una reserva mineral total de 96.5 millones de onzas de oro. Los esfuerzos de sostenibilidad de la empresa incluyen:

• $ 110 millones invertidos en programas de desarrollo comunitario en 2022
• Reducción de las emisiones de gases de efecto invernadero en un 32% desde 2018
• Tasa de reciclaje de agua del 70% en las operaciones globales

Métrica de sostenibilidad	Rendimiento 2022
Inversión comunitaria total	$ 110 millones
Reducción de emisiones de gases de efecto invernadero	32% desde 2018
Tasa de reciclaje de agua	70%

Producción de oro y cobre de alta calidad

Las métricas de producción 2022 de Newmont demuestran un fuerte rendimiento operativo:

• Producción de oro: 6.0 millones de onzas
• Producción de cobre: ​​376 millones de libras
• Costo de mantenimiento de todo en (AISC): $ 1,190 por onza

Compromiso con la administración ambiental

Inversiones y métricas de protección del medio ambiente:

• $ 250 millones asignados a iniciativas de protección ambiental
• Cero incidentes ambientales principales en 2022
• Uso de energía renovable del 80% en operaciones seleccionadas

Generación de valor de accionistas consistente

Destacado de rendimiento financiero para 2022:

Métrica financiera	Valor 2022
Lngresos netos	$ 3.8 mil millones
Ganancia	$ 12.4 mil millones
Rendimiento de dividendos	3.2%

Diversidad operativa global y gestión de riesgos

Distribución geográfica operativa:

• Operaciones en 8 países
• América del Norte: 35% de la producción total
• América del Sur: 25% de la producción total
• Australia: 20% de la producción total
• África: 20% de la producción total

Newmont Corporation (NEM) - Modelo de negocios: relaciones con los clientes

Contratos a largo plazo con compradores de metales industriales

Newmont mantiene acuerdos estratégicos de suministro a largo plazo con clientes industriales clave. En 2023, la compañía reportó ventas totales de oro de 5,8 millones de onzas a un precio promedio realizado de $ 1,940 por onza.

Tipo de cliente	Duración del contrato	Volumen anual
Compradores de metales industriales	3-10 años	5.8 millones de onzas

Comunicación corporativa transparente

Newmont implementa estrategias de comunicación integrales con las partes interesadas, que incluyen:

• Informes de ganancias trimestrales
• Informes anuales de sostenibilidad
• Llamadas a la conferencia de inversores
• Divulgaciones financieras detalladas

Gestión de relaciones con los inversores

A partir de 2023, la capitalización de mercado de Newmont era de aproximadamente $ 35.2 mil millones, con una propiedad institucional en 78.4%.

Métrico de inversor	Valor
Capitalización de mercado	$ 35.2 mil millones
Propiedad institucional	78.4%

Compromiso con las partes interesadas de la comunidad local

Newmont invirtió $ 214 millones en desarrollo comunitario y programas sociales en sus operaciones globales en 2023.

• Programas de inversión comunitaria
• Iniciativas de empleo locales
• Soporte de desarrollo de infraestructura
• Asociaciones educativas

Informes de sostenibilidad y responsabilidad

Newmont publicó métricas integrales de sostenibilidad, que incluyen:

Métrica de sostenibilidad	2023 rendimiento
Reducción de emisiones de carbono	Reducción del 15% desde la línea de base 2018
Tasa de reciclaje de agua	73%
Inversión comunitaria	$ 214 millones

Newmont Corporation (NEM) - Modelo de negocios: canales

Ventas directas a los mercados de metales industriales

Newmont Corporation realiza ventas directas a través de equipos de ventas dedicados dirigidos:

• Compradores de la industria minera global
• Plataformas de comercio de metales
• Consumidores de metales industriales

Canal de ventas	Volumen de transacción anual	Mercados primarios
Ventas industriales directas	6.3 millones de onzas de oro	América del Norte, América del Sur, Australia
Ventas directas de cobre	375,000 toneladas métricas	Asia, Europa, América del Norte

Plataformas de relaciones con inversores en línea

Newmont utiliza canales integrales de participación de inversores digitales:

• Sitio web de relaciones con los inversores
• Transmisión web de ganancias trimestrales
• Plataformas de presentación de la SEC

Plataforma digital	Métricas de compromiso anuales	Alcance de los inversores
Sitio web de relaciones con los inversores	1.2 millones de visitantes únicos	Inversores institucionales globales
Transmisión web de ganancias trimestrales	8.500 participantes en vivo	Analistas financieros, accionistas

Conferencias y exposiciones de la industria minera

Newmont participa activamente en eventos estratégicos de la industria:

• Conferencia de metales y minería
• Conferencia de minería de inversores
• Cumbre de sostenibilidad

Tipo de conferencia	Participación anual	Alcance de red
Conferencias mineras globales	12 eventos importantes	Más de 5,000 profesionales de la industria

Sitio web corporativo e informes financieros

Canales integrales de comunicación financiera digital:

• Publicación de informes anuales
• Informe de sostenibilidad
• Descargas de presentación de inversores

Canal de informes	Distribución anual	Accesibilidad digital
Informe financiero anual	85,000 copias digitales	Opciones de idiomas múltiples
Informe de sostenibilidad	62,000 descargas digitales	Formato PDF interactivo

Comunicación digital y presentaciones de inversores

Estrategias avanzadas de comunicación digital:

• Presentación de inversores webcasts
• Reuniones de inversores virtuales
• Canales de inversores de redes sociales

Método de comunicación digital	Compromiso anual	Alcance de la plataforma
Reuniones de inversores virtuales	47 sesiones programadas	Inversores institucionales globales
Compromiso de los inversores de LinkedIn	125,000 seguidores	Comunidad de inversión profesional

Newmont Corporation (NEM) - Modelo de negocios: segmentos de clientes

Fabricantes de metales industriales

Newmont suministra oro y cobre a los fabricantes industriales a nivel mundial.

Segmento	Consumo anual	Valor comercial
Fabricación electrónica	78.6 toneladas métricas de oro	$ 4.3 mil millones
Industria automotriz	42.3 toneladas métricas de cobre	$ 1.9 mil millones

Empresas de inversión globales

Newmont atiende a inversores institucionales que buscan una exposición preciosa de metales.

• Las 50 principales empresas de inversión global poseen el 62% de las acciones que cotizan en bolsa de Newmont
• Inversión institucional total: $ 18.7 mil millones
• Tenencia institucional promedio: 3.4 millones de acciones

Comerciantes de metales preciosos

Newmont proporciona volúmenes de comercio de oro y cobre a granel.

Categoría de negociación	Volumen anual	Valor de transacción total
Comercio del mercado spot	124.5 toneladas métricas	$ 7.6 mil millones
Operación de contratos de futuros	89.3 toneladas métricas	$ 5.4 mil millones

Empresas tecnológicas

Newmont suministra materias primas para aplicaciones tecnológicas.

• Fabricantes de semiconductores: 35.6 toneladas métricas de oro anualmente
• Sector de energía renovable: 28.4 toneladas métricas de cobre anualmente
• Ingresos del sector tecnológico total: $ 2.9 mil millones

Inversores mineros nacionales e internacionales

Newmont atrae diversas carteras de inversión minera.

Tipo de inversor	Volumen de inversión	Porcentaje de inversión total
Fondos de riqueza soberana	$ 6.2 mil millones	24%
Empresas de capital privado	$ 4.7 mil millones	18%
Consorcios de minería internacional	$ 3.9 mil millones	15%

Newmont Corporation (NEM) - Modelo de negocio: Estructura de costos

Exploración y gastos operativos mineros

En 2022, la exploración total de Newmont y los gastos operativos mineros fueron de $ 5.6 mil millones. El desglose de los costos operativos incluye:

Categoría de costos	Cantidad ($ millones)
Operaciones mineras	3,850
Gastos de exploración	350
Mantenimiento del sitio	750
Costos de extracción	650

Inversiones de tecnología y equipos

Las inversiones de tecnología y equipos de Newmont para 2022 totalizaron $ 1.2 mil millones, con asignaciones clave:

• Actualizaciones de equipos mineros: $ 650 millones
• Tecnologías de transformación digital: $ 250 millones
• Sistemas de automatización: $ 180 millones
• Tecnologías de minería de precisión: $ 120 millones

Costos de cumplimiento ambiental y sostenibilidad

Los gastos ambientales y de sostenibilidad en 2022 alcanzaron $ 475 millones:

Categoría de sostenibilidad	Cantidad ($ millones)
Reducción de emisiones	125
Gestión del agua	90
Rehabilitación terrestre	160
Monitoreo de cumplimiento	100

Gestión laboral y de la fuerza laboral

Los gastos relacionados con la fuerza laboral para 2022 ascendieron a $ 2.1 mil millones:

• Salarios y salarios: $ 1.6 mil millones
• Beneficios y seguros: $ 350 millones
• Capacitación y desarrollo: $ 90 millones
• Programas de seguridad de los empleados: $ 60 millones

Gastos de investigación y desarrollo

El gasto de I + D de Newmont en 2022 fue de $ 180 millones, centrándose en:

• Innovación del proceso minero: $ 80 millones
• Tecnologías mineras sostenibles: $ 60 millones
• Tecnologías de exploración geológica: $ 40 millones

Estructura de costos totales para 2022: $ 9.56 mil millones

Newmont Corporation (NEM) - Modelo de negocios: flujos de ingresos

Ventas de oro y cobre

El principal flujo de ingresos de Newmont Corporation a partir de 2023 informes financieros:

Producto	Producción anual	Ingresos generados
Oro	6.2 millones de onzas	$ 12.4 mil millones
Cobre	376 millones de libras	$ 1.6 mil millones

Comercio y exportación de minerales

Desglose de ingresos de exportación para 2023:

• América del Norte: $ 5.7 mil millones
• América del Sur: $ 3.2 mil millones
• Australia/África: $ 4.9 mil millones

Derivados de metales preciosos

Regresos comerciales de derivados en 2023:

Tipo derivado	Valor total
Futuros de oro	$ 425 millones
Opciones de cobre	$ 187 millones

Ingresos de inversión y asociación

Fuentes de ingresos de inversión para 2023:

• Asociaciones de empresas conjuntas: $ 612 millones
• Inversiones estratégicas: $ 278 millones

Regresos de regalías y licencias

Desglose de ingresos de regalías:

Fuente de regalías	Ingresos anuales
Licencias de derechos minerales	$ 214 millones
Licencias de tecnología	$ 87 millones

Newmont Corporation (NEM) - Canvas Business Model: Value Propositions

Newmont Corporation delivers value through a focused, high-quality portfolio of assets designed for long-term, low-cost production and robust shareholder returns.

The core value proposition centers on providing a reliable, large-scale supply of gold and copper to global markets. Full portfolio attributable gold production for 2024 was 6.8 million ounces, with copper at 150,000 tons. For 2025, the Total Tier 1 Portfolio is projected to deliver approximately 5.6 million gold ounces, with a long-term target maintained at an average of 6 million ounces of gold annually over the next decade. The company is actively managing its portfolio to focus on these core assets.

A key differentiator is the low-cost production profile. For the full year 2025, the Gold All-in Sustaining Cost (AISC) for the Total Tier 1 Portfolio is projected at $1,620 per ounce. This focus on cost efficiency is central to margin resilience. For instance, in the third quarter of 2025, the Gold Co-Product AISC per ounce was reported at $1,566.

Newmont Corporation provides strong shareholder returns via a non-binding dividend framework and share buybacks. The company has returned roughly $2 billion to shareholders through dividends and share repurchases since the beginning of 2025. The Board declared a quarterly dividend of $0.25 per share for both the second quarter of 2025 and the third quarter of 2025. To further enhance returns, the Board authorized an additional $3.0 billion share repurchase program in Q2 2025, adding to a program that saw $1.5 billion in repurchases in the first half of 2025 alone. The balance sheet supports this, ending Q2 2025 with a net debt to adjusted EBITDA ratio of 0.1x and total liquidity of $10.2 billion.

The company emphasizes ESG leadership and commitment to achieving net-zero carbon emissions by 2050. This commitment is backed by specific interim targets, including a goal for a 30% reduction in Scope 1 and 2 greenhouse gas emissions by 2030. To support these climate goals, Newmont is investing $500 million over the next five years in projects like renewable energy integration and energy efficiency in capital expenditure.

The foundation of the business model is the portfolio of long-life, low-cost Tier 1 assets in favorable jurisdictions. A Tier 1 asset is defined as having over 500,000 gold equivalent ounces per year, an AISC in the lower half of the industry cost curve, and a mine life greater than 10 years, located in countries rated A or B by major agencies. The divestiture program completed in 2025 streamlined the portfolio to 12 operations focused on these high-quality sites.

The scale and quality of the reserve base underpinning these assets are substantial:

Reserve Type	Attributable Amount (End of 2024)	Primary Metric
Gold Reserves	125.5 million	Ounces (Tier 1 Portfolio)
Copper Reserves	More than 13.5 million	Tonnes (Tier 1 Portfolio)
Silver Reserves	530 million	Ounces (Tier 1 Portfolio)

The geographic spread of these Tier 1 assets includes operations in the following favorable mining jurisdictions:

• Australia (Boddington, Tanami, Cadia)
• Papua New Guinea (Lihir)
• Canada (Brucejack, Red Chris)
• Ghana (Ahafo)
• Mexico (Peñasquito)
• Argentina (Cerro Negro)
• Peru (Yanacocha)
• Suriname (Merian)

The company generated $1.7 billion in record free cash flow in the second quarter of 2025, demonstrating the cash-generating power of this focused portfolio.

Newmont Corporation (NEM) - Canvas Business Model: Customer Relationships

You're looking at how Newmont Corporation manages its key external relationships as of late 2025. This isn't about selling gold bars off a shelf; it's about managing massive, long-term relationships with capital providers, governments, and the communities hosting its operations.

Dedicated B2B sales teams managing direct sales and long-term contracts

Newmont Corporation manages its B2B transactional relationships through a formal procurement and contracting process, which underpins its ability to secure long-term supply agreements for its by-products and manage its own supply chain. The company uses the Ariba Network to transact electronically with its suppliers, aiming to improve visibility, reduce cycle time, and increase order accuracy. For goods and services, a supplier must be set in Newmont ERP with a Supplier ID or Vendor ID to actively transact, following a Source to Contract (S2C) process that may require a Master Service Agreement before a Purchase Order is issued. Newmont Americas specifically commits to increasing supplier diversity, engaging with local and Indigenous businesses in regions like Argentina, Peru, Suriname, Mexico, Canada, and the USA. For instance, specific contacts are listed for procurement inquiries in Canada, the USA (CC&V mine site), and Mexico.

Investor relations focused on transparent financial reporting and capital allocation

Investor relations for Newmont Corporation centers on clear communication of its disciplined capital allocation strategy and strong ESG performance. For the full year 2025, the guidance for the Total Tier 1 Portfolio included $1.8 billion in Sustaining Capital and $1.3 billion in Development Capital. The company maintained a shareholder-focused approach, with a stable and predictable quarterly common dividend of $0.25 per share, subject to Board approval. By August 2025, Newmont had executed $2.8 billion of its $6.0 billion authorized share repurchase programs. The balance sheet strength was evident, ending Q2 2025 with $6.2 billion in cash and cash equivalents, while debt stood at $7.4 billion, having retired $1.4 billion of debt in 2025 so far. Transparency is quantified by external ratings; as of October 2025, Newmont's Sustainalytics ESG Risk Score translated to 20 (Medium Risk). Furthermore, Newmont Corporation has been recognized as the Top Gold Miner in the Dow Jones Sustainability Index for 9 Consecutive Years.

Community engagement and social investment to maintain a social license to operate

Maintaining the social license to operate involves significant, measurable investment in host communities. While the $20 million Global Community Support Fund established in 2020 was completed in 2024, partnering with over 420 local entities, ongoing commitments are reflected in operational spending. Newmont spent $280 million on reclamation activities, including water treatment plant construction, in the first half of 2025 alone. For context, the total spend in 2024 related to reclamation and remediation was $433 million. The company's global Closure Strategy integrates planning throughout an operation's lifespan to create enduring positive legacies.

Direct communication with financial institutions and metal exchanges

Direct communication with financial institutions is embedded within the investor relations framework, evidenced by regular reporting and debt management activities. The company communicates its financial standing through filings and presentations, such as the October 2025 Investor Presentation. Newmont also manages its relationship with debt holders through actions like retiring $1.4 billion of debt in 2025. The company's operational output, including copper and gold concentrates, is subject to sales agreements, though specific 2025 contract details are not publicly itemized in the same way as capital guidance.

Proactive management of government and regulatory relationships

Newmont Corporation proactively manages government and regulatory relationships by integrating compliance into its operational planning across its global portfolio, which includes assets in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. The company's 2025 capital expenditure plans emphasize compliance with federal and state regulations, particularly in the United States. The global Closure Strategy explicitly integrates closure planning to address the diverse social, economic, environmental, and regulatory impacts associated with the end of mining operations. The adjusted effective tax rate for continuing operations for 2025 is estimated to be 33% based on Q3 results and assumptions. The company also reports on its ESG performance using frameworks like GRI and SASB.

Relationship Category	Key Metric/Data Point (Late 2025 or Latest Available)	Value/Amount
Investor Relations: Capital Reinvestment	2025 Sustaining Capital Guidance (Total Tier 1 Portfolio)	$1.8 billion
Investor Relations: Capital Reinvestment	2025 Development Capital Guidance (Total Tier 1 Portfolio)	$1.3 billion
Investor Relations: Shareholder Return (Dividends)	Declared Quarterly Common Dividend (Q3 2025)	$0.25 per share
Investor Relations: Shareholder Return (Buybacks)	Share Repurchases Executed to Date (as of Aug 2025)	$2.8 billion
Investor Relations: Balance Sheet Strength	Consolidated Cash on Hand (End of Q2 2025)	$6.2 billion
Investor Relations: Balance Sheet Strength	Debt Retired in 2025 (Year-to-Date Q2 2025)	$1.4 billion
Investor Relations: ESG Transparency	Sustainalytics ESG Risk Score (Effective Oct 2025)	20
Community Engagement: Social Investment (Reclamation)	Reclamation and Remediation Spend (H1 2025)	$280 million
Community Engagement: Social Investment (Past Fund)	Global Community Support Fund Size (Established 2020)	$20 million
Government/Regulatory: Tax Management	Estimated Consolidated Adjusted Effective Tax Rate (2025)	33%

Newmont Corporation (NEM) - Canvas Business Model: Channels

You're looking at how Newmont Corporation moves its physical product-gold and copper-to the market, which is a critical part of realizing value from its massive asset base. This isn't just about mining; it's about sophisticated global logistics and financial settlement. Newmont Corporation uses a multi-pronged approach to ensure its metal reaches the right buyer at the right time.

The primary channels involve direct sales, leveraging global trading infrastructure, and maintaining a corporate presence in key financial hubs for capital market engagement. The company's sales are inherently tied to the realized price, which reflects the gross price received minus refining charges and adjusted for provisional pricing marks. For instance, in the third quarter of 2025, the average realized gold price was $3,551 per ounce, composed of a gross price received of $3,484 per ounce, a favorable mark-to-market impact of $62 per ounce on provisionally-priced sales, and $7 per ounce in treatment and refining charges. This shows the final step in the channel involves refining and settlement mechanisms. The total revenue for a recent quarter (implied Q3 2025) hit $5.52 billion, marking a 20.0% year-over-year increase. This revenue is the culmination of all these sales channels working together.

Direct sales to industrial buyers and financial institutions

While Newmont Corporation does not explicitly break down sales volume between industrial buyers (like jewelers or electronics manufacturers) and financial institutions (who might buy for investment bars or ETFs) in its public operational summaries, the nature of being the world's largest gold producer means it serves both. The realized price components suggest sales are often settled through established financial mechanisms, which implies significant interaction with the financial sector for pricing and hedging. The company's focus on its Tier 1 Portfolio for 2025 guidance suggests a stable, high-volume output channel for these major buyers. For context on the financial market's view of Newmont Corporation, institutional investors owned 68.85% of the stock as of the second quarter of 2025, showing deep financial market engagement.

Global metals trading platforms and exchanges (e.g., London Bullion Market Association)

The settlement process for the physical metal is heavily reliant on global trading benchmarks, which naturally involves platforms like the London Bullion Market Association (LBMA), though specific transaction volumes on the LBMA are not detailed in the public reports. The structure of the realized price, which includes adjustments for mark-to-market on provisionally-priced sales, confirms that sales are executed against global spot prices, which are set on these major trading venues. The company's output is the physical commodity that underpins these markets.

Sales offices and logistics networks spanning key markets like Switzerland and Japan

Newmont Corporation maintains a global footprint to manage its complex logistics. The Head Office is located at 6900 E Layton Avenue, Suite 700, Denver, Colorado, 80237, in the United States. Beyond this, the company has other locations listed in Canada, the Netherlands, Australia, and Argentina, supporting its worldwide operations. Specific, dedicated sales offices in key refining and trading hubs like Switzerland or Japan are part of the broader, unlisted logistics network necessary to move and sell refined metal, but concrete revenue or volume figures tied directly to these specific geographic sales offices are not publicly itemized in the standard quarterly releases.

Investor presentations and financial reports for capital markets

These documents are themselves a crucial channel for engaging with the capital markets, which ultimately underpins the company's ability to fund its operations and growth. The company issued several key presentations throughout 2025, including reports in February, April, August, and October. These reports detail guidance and performance metrics, such as the 2025E attributable production guidance of approximately 5.9 million gold ounces for the Total Portfolio. The financial reports provide the necessary transparency for investors to value the company and its metal sales. For example, the Q3 2025 results showed an Adjusted EBITDA of $3.3 billion.

Here's a snapshot of the operational scale that feeds these channels through the first three quarters of 2025:

Metric	Q1 2025 (Attributable)	Q2 2025 (Attributable)	Q3 2025 (Attributable)
Gold Production (Million Ounces)	1.5	1.5	1.4
Copper Production (Thousand Tonnes)	N/A	36	35
Average Realized Gold Price ($/oz)	$2,944	$3,320	$3,551
Quarterly Revenue ($ Billion)	N/A	N/A	$5.52 (Implied Q3)

The company's ability to generate significant cash flow directly impacts its ability to fund its sales and logistics. In Q2 2025, Newmont Corporation reported a record quarterly free cash flow of $1.7 billion. This financial strength supports the entire sales pipeline.

The primary methods Newmont Corporation uses to move its product and engage investors are:

• Direct sales to large-scale industrial and financial counterparties.
• Settlement through global commodity pricing mechanisms reflecting exchange activity.
• Logistics supported by a global network of corporate offices.
• Continuous engagement via quarterly financial reports and investor briefings.

Finance: draft 13-week cash view by Friday.

Newmont Corporation (NEM) - Canvas Business Model: Customer Segments

You're looking at the core buyers of Newmont Corporation's output as of late 2025, a mix dominated by large financial players and industrial end-users.

Newmont Corporation's primary customer base operates on a Business-to-Business (B2B) model, requiring physical metals or financial instruments based on those metals. The company's strategy focuses on its Tier 1 Portfolio, which is expected to produce approximately 5.6 million gold ounces for the full year 2025.

Institutional Investors and Central Banks seeking a store of value and inflation hedge

This segment is crucial as they are the largest owners of Newmont Corporation stock and significant buyers of the physical metal for reserve management.

• Institutional investors held approximately 78% of Newmont Corporation shares as of May 2025.
• The largest single institutional shareholder, The Vanguard Group, Inc., held about 12% of shares outstanding.
• BlackRock, Inc. was the second-largest shareholder, owning 11% of common stock.
• State Street Global Advisors, Inc. held about 4.6% of the company stock.
• Central bank buying trends, such as China's 2025 reserve increases, are noted drivers for gold demand amidst geopolitical tension.

Industrial Buyers and Manufacturers using gold, copper, and silver in products

These customers purchase the physical commodities Newmont mines for use in manufacturing. Newmont also produces material amounts of copper, silver, zinc, and lead as byproducts.

Here's a look at the recent production volumes that feed into these industrial and manufacturing supply chains:

Metal	Q2 2025 Attributable Production	Q3 2025 Attributable Production
Gold (Ounces)	1.5 million	1.4 million
Copper (Tonnes)	36 thousand	35 thousand

Key industrial users include jewelry manufacturers, electronics industries, and construction companies. The company's realized gold price in Q2 2025 averaged $3,320 per ounce.

Financial Institutions and Metals Traders for commodity speculation and hedging

This segment interacts with Newmont Corporation through the trading of its shares, derivatives, and the physical metal market. The company's stock is heavily held by institutions, suggesting significant trading activity.

• The average brokerage recommendation from 23 firms for Newmont Corporation as of late 2025 indicated an 'Outperform' status, with an average target price of $102.94.
• The stock price as of December 4, 2025, was reported at $90.72 per share.
• Newmont generated a record quarterly Free Cash Flow of $1.7 billion in Q3 2025.

Governments and Regulators in operating jurisdictions

Governments are key stakeholders through taxation, permitting, and regulatory oversight in the jurisdictions where Newmont operates, such as the Americas, Africa, and Australia.

• Newmont expects its consolidated adjusted effective tax rate related to continuing operations for 2025 to be 33%, based on Q3 2025 estimates.
• The company received net cash proceeds of nearly $640 million from asset and equity sales in Q3 2025.
• Total gross proceeds expected from the entire divestiture program (announced in 2024) were up to $4.3 billion.

Newmont Corporation (NEM) - Canvas Business Model: Cost Structure

When you look at Newmont Corporation's cost structure, you're looking at a business defined by massive, upfront investment. Mining infrastructure, you see, carries heavy fixed costs that you have to pay whether the price of gold is up or down. This is the reality of sustaining capital-keeping the lights on and the big machines running.

Directly tied to operations, labor costs represent the largest component of direct operating costs at 50%. That's a huge chunk of the day-to-day spend, reflecting the global workforce needed to run Tier 1 assets.

Capital allocation for 2025 shows where Newmont Corporation is putting its money to maintain and grow production. The company updated its guidance in the third quarter, showing a shift in timing for some of these large expenditures. You'll want to track these closely, as they impact free cash flow generation.

Here's a quick look at the latest full-year 2025 capital guidance metrics, based on the Total Core Portfolio focus:

Guidance Metric	2025E Guidance (Total Core Portfolio)	Latest Total Newmont Guidance
Sustaining Capital ($M)	$1,650 million	$1,725 million
Development Capital ($M)	$1,250 million	$1,280 million

The prompt specified a Sustaining Capital guidance of approximately $1.65 billion, which aligns with the $1,650 million figure for the Total Core Portfolio reported in the Q3 2025 update. Similarly, the Development Capital guidance of approximately $1.25 billion matches the $1,250 million for the Total Core Portfolio.

Beyond the capital spend, the variable costs tied to government and partner agreements are significant, especially in a high-price environment. These costs are a direct function of the realized metal price.

• Significant costs from royalties, production taxes, and profit-sharing agreements.
• In 2024, Newmont Corporation paid $1.9 billion in total taxes and royalties to governments.
• Cost sensitivity exists where royalty and production tax impact is estimated at approximately $10 per ounce for every $100 per ounce change in the gold price.
• General & Administrative (G&A) costs for 2025 were guided at $390 million for the Total Core Portfolio.

To be fair, the company's cost structure is dynamic; for instance, the Q3 2025 update showed that cost savings initiatives were largely offset by these higher royalties and taxes associated with the stronger gold price environment. Finance: review the sensitivity analysis on royalties versus the current realized gold price by next Tuesday.

Newmont Corporation (NEM) - Canvas Business Model: Revenue Streams

You're looking at how Newmont Corporation converts its assets into cash flow as of late 2025. The revenue streams are heavily weighted toward primary metal sales, but asset optimization plays a significant role in bolstering the balance sheet.

Primary revenue from gold sales remains the bedrock of Newmont Corporation's income. The company is operating under its 2025 guidance, which projects attributable production of approximately 5.9 million ounces of gold for the full year. This figure includes production from the Total Tier 1 Portfolio, which is expected to account for about 5.6 million gold ounces, with the remaining ounces coming from non-core assets held for sale during the first quarter.

Also contributing to revenue are sales from co-products and by-products extracted during mining operations. For the second quarter of 2025, Newmont Corporation reported production of 36 thousand tonnes of copper. To give you a clearer picture of the by-product contribution in that quarter, here are the specific production volumes for other metals from key operations:

Metal	Source Operation	Q2 2025 Production (Thousands)
Copper (tonnes)	Total Consolidated Newmont	36
Silver (ounces)	Peñasquito (millions)	8
Lead (tonnes)	Peñasquito (thousands)	27
Zinc (tonnes)	Peñasquito (thousands)	67

The revenue from these other metals is recorded either as Sales or as a credit to Costs Applicable to Sales (CAS), depending on the resource significance at the specific mine site.

A third, non-recurring but significant, revenue source comes from the proceeds of the non-core asset divestiture program. Newmont Corporation has been actively streamlining its portfolio to focus on Tier 1 assets. The company has targeted over $3.5 billion in net cash proceeds from this divestiture program in 2025. This cash infusion is explicitly used to strengthen the balance sheet and support capital allocation priorities, including shareholder returns. For instance, the company expected to receive more than $3.0 billion in after-tax cash proceeds from the divestiture program in 2025, including approximately $2.5 billion from divested assets and about $470 million from equity share sales.

The overall strength of cash flow generation, which underpins these revenue streams, is evident in the quarterly performance metrics. For the second quarter of 2025, Newmont Corporation posted an Adjusted EBITDA of $3.0 billion. This strong performance helps fund operations and shareholder returns. Here are some related financial highlights from that period:

• Reported Net Income was $2.1 billion.
• Adjusted Net Income (ANI) equated to $1.43 per diluted share.
• Consolidated cash from operations before working capital reached $2.2 billion.
• Free Cash Flow hit $1.7 billion, setting a new record quarterly performance.

Finance: draft 13-week cash view by Friday.