Newmont Corporation (NEM): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no intrincado mundo da Newmont Corporation (NEM), uma potência global de mineração que transforma a Terra crua em recursos valiosos com precisão estratégica. Essa exploração de seu modelo de negócios Canvas revela uma tapeçaria complexa de práticas de mineração sustentável, parcerias inovadoras e criação robusta de valor que posiciona Newmont na vanguarda da indústria de metais preciosos. Desde a pesquisa geológica de ponta até a extração mineral responsável, o modelo de Newmont demonstra como as empresas de mineração modernas podem equilibrar o desempenho econômico com a administração ambiental e o envolvimento da comunidade.

Newmont Corporation (NEM) - Modelo de negócios: Parcerias -chave

Alianças estratégicas com governos locais em regiões de mineração

A Newmont mantém parcerias estratégicas com os governos nas principais regiões de mineração, incluindo:

País	Região	Detalhes da parceria
Peru	Yanacocha	Propriedade conjunta com o governo regional de Cajamarca, 51,35% de participação newmont
Gana	Ahafo e Akyem	Colaboração com a Corporação Nacional de Petróleo de Gana
Austrália	Boddington	Parceria com o governo da Austrália Ocidental

Joint ventures com fornecedores de tecnologia e equipamentos

Newmont colabora com os principais fornecedores de tecnologia e equipamentos:

• Caterpillar Inc.: Contrato de fornecimento de equipamentos de US $ 250 milhões para máquinas de mineração
• Soluções de mineração e rock Sandvik: Parceria avançada de tecnologia e escavação
• METSO OUTOTEC: Equipamento de processamento mineral e colaboração de tecnologia

Parcerias com organizações de sustentabilidade ambiental

Organização	Área de foco	Investimento
Conselho Internacional de Mineração e Metais (ICMM)	Práticas de mineração sustentáveis	US $ 5,2 milhões com compromisso anual
World Wildlife Fund (WWF)	Conservação da biodiversidade	Programa de conservação de US $ 3,7 milhões

Colaboração com comunidades locais em áreas de mineração

Investimentos de Parceria Comunitária de Newmont:

• Programas de desenvolvimento comunitário: US $ 42,5 milhões em 2023
• Iniciativas de emprego local: 65% da força de trabalho local em regiões operacionais
• Compras de fornecedores locais: US $ 680 milhões gastos com empresas locais em 2023

Investimento total de parceria em 2023: aproximadamente US $ 311,4 milhões

Newmont Corporation (NEM) - Modelo de negócios: Atividades -chave

Exploração de mineração de ouro e cobre

A Newmont Corporation opera atividades de exploração de mineração em 5 continentes, com sites de exploração ativos em:

Região	Países	Orçamento de exploração (2023)
América do Norte	Estados Unidos, Canadá	US $ 195 milhões
Ámérica do Sul	Peru, Argentina, Chile	US $ 142 milhões
África	Gana, Tanzânia	US $ 87 milhões

Extração e processamento minerais

Métricas anuais de produção mineral para 2023:

• Produção de ouro: 6,2 milhões de onças
• Produção de cobre: ​​375.000 toneladas métricas
• Grau de ouro médio: 1,2 gramas por tonelada métrica

Implementação de práticas de mineração sustentável

Investimentos de mineração sustentável em 2023:

Iniciativa de Sustentabilidade	Valor do investimento
Redução de emissão de carbono	US $ 287 milhões
Gerenciamento da água	US $ 64 milhões
Desenvolvimento comunitário	US $ 42 milhões

Pesquisa geológica e desenvolvimento do local

Despesas de pesquisa e desenvolvimento:

• Gastos totais de P&D: US $ 98 milhões em 2023
• Investimento de Tecnologias de Mapeamento Geológico: US $ 22 milhões
• Desenvolvimento de tecnologia de exploração: US $ 35 milhões

Gerenciamento de Reserva Mineral

Estatísticas de reserva mineral para 2023:

Tipo mineral	Reservas totais	Anos estimados de produção
Ouro	94,8 milhões de onças	15,3 anos
Cobre	8,7 milhões de toneladas métricas	23,2 anos

Newmont Corporation (NEM) - Modelo de negócios: Recursos -chave

Extenso portfólio de mineração global

A partir de 2024, a Newmont opera 9 locais de mineração ativa em 5 países:

País	Número de minas	Minerais primários
Estados Unidos	3	Ouro, prata
Canadá	1	Ouro
Peru	2	Ouro, cobre
Gana	2	Ouro
Austrália	1	Ouro

Tecnologia e equipamento avançado de mineração

Despesas de capital para tecnologia e equipamento em 2023: US $ 1,6 bilhão

• Sistemas de perfuração autônomos
• Tecnologias avançadas de mapeamento geológico
• Equipamento de extração mineral de alta precisão
• Sistemas de manutenção preditiva orientada pela IA

Força de trabalho geológica e de engenharia qualificada

Força de trabalho total em 2023: 14.300 funcionários

Categoria de funcionários	Número	Percentagem
Geólogos	1,750	12.2%
Engenheiros de Mineração	2,100	14.7%
Equipe técnica	3,600	25.2%
Pessoal de operações	6,850	47.9%

Reservas minerais significativas e direitos de exploração

Reservas minerais a partir de 2023:

• Reservas de ouro: 96,4 milhões de onças
• Reservas de cobre: ​​3,8 bilhões de libras
• Reservas de prata: 127 milhões de onças

Fortes capital financeiro e capacidades de investimento

Métricas financeiras para 2023:

Métrica financeira	Quantia
Total de ativos	US $ 55,3 bilhões
Caixa e equivalentes de dinheiro	US $ 4,2 bilhões
Dívida total	US $ 6,8 bilhões
Investimento anual de capital	US $ 2,1 bilhões

Newmont Corporation (NEM) - Modelo de Negócios: Proposições de Valor

Extração mineral responsável e sustentável

A Newmont Corporation produziu 6,0 milhões de onças de ouro em 2022, com uma reserva mineral total de 96,5 milhões de onças de ouro. Os esforços de sustentabilidade da empresa incluem:

• US $ 110 milhões investidos em programas de desenvolvimento comunitário em 2022
• Redução das emissões de gases de efeito estufa em 32% desde 2018
• Taxa de reciclagem de água de 70% nas operações globais

Métrica de sustentabilidade	2022 Performance
Investimento total da comunidade	US $ 110 milhões
Redução de emissão de gases de efeito estufa	32% desde 2018
Taxa de reciclagem de água	70%

Produção de ouro e cobre de alta qualidade

As métricas de produção de 2022 de Newmont demonstram forte desempenho operacional:

• Produção de ouro: 6,0 milhões de onças
• Produção de cobre: ​​376 milhões de libras
• Custo de sustentação de All-In (AISC): US $ 1.190 por onça

Compromisso com a administração ambiental

Investimentos e métricas de proteção ambiental:

• US $ 250 milhões alocados a iniciativas de proteção ambiental
• Zero grandes incidentes ambientais em 2022
• 80% de uso de energia renovável em operações selecionadas

Geração de valor do acionista consistente

O desempenho financeiro destaca para 2022:

Métrica financeira	2022 Valor
Resultado líquido	US $ 3,8 bilhões
Receita	US $ 12,4 bilhões
Rendimento de dividendos	3.2%

Diversidade operacional global e gerenciamento de riscos

Distribuição geográfica operacional:

• Operações em 8 países
• América do Norte: 35% da produção total
• América do Sul: 25% da produção total
• Austrália: 20% da produção total
• África: 20% da produção total

Newmont Corporation (NEM) - Modelo de Negócios: Relacionamentos do Cliente

Contratos de longo prazo com compradores industriais de metal

A Newmont mantém acordos estratégicos de fornecimento de longo prazo com clientes industriais importantes. Em 2023, a empresa registrou vendas totais de ouro de 5,8 milhões de onças a um preço médio realizado de US $ 1.940 por onça.

Tipo de cliente	Duração do contrato	Volume anual
Compradores de metal industriais	3-10 anos	5,8 milhões de onças

Comunicação corporativa transparente

Newmont implementa estratégias de comunicação abrangentes com as partes interessadas, incluindo:

• Relatórios de ganhos trimestrais
• Relatórios anuais de sustentabilidade
• Chamadas de conferência de investidores
• Divisões financeiras detalhadas

Gerenciamento de Relações com Investidores

Em 2023, a capitalização de mercado de Newmont era de aproximadamente US $ 35,2 bilhões, com propriedade institucional em 78,4%.

Métrica do investidor	Valor
Capitalização de mercado	US $ 35,2 bilhões
Propriedade institucional	78.4%

Engajamento com as partes interessadas da comunidade local

A Newmont investiu US $ 214 milhões em desenvolvimento comunitário e programas sociais em suas operações globais em 2023.

• Programas de investimento comunitário
• Iniciativas de emprego local
• Suporte ao Desenvolvimento de Infraestrutura
• Parcerias educacionais

Relatórios de sustentabilidade e responsabilidade

Newmont publicou métricas abrangentes de sustentabilidade, incluindo:

Métrica de sustentabilidade	2023 desempenho
Redução de emissões de carbono	Redução de 15% em relação à linha de base de 2018
Taxa de reciclagem de água	73%
Investimento comunitário	US $ 214 milhões

Newmont Corporation (NEM) - Modelo de Negócios: Canais

Vendas diretas para mercados de metal industrial

A Newmont Corporation realiza vendas diretas através de equipes de vendas dedicadas segmentando:

• Compradores globais da indústria de mineração
• Plataformas de negociação de metais
• Consumidores de metais industriais

Canal de vendas	Volume anual de transações	Mercados primários
Vendas industriais diretas	6,3 milhões de onças de ouro	América do Norte, América do Sul, Austrália
Vendas diretas de cobre	375.000 toneladas métricas	Ásia, Europa, América do Norte

Plataformas de relações com investidores online

A Newmont utiliza canais abrangentes de engajamento de investidores digitais:

• Site de Relações com Investidores
• Webcast trimestral de ganhos
• Plataformas de arquivamento da SEC

Plataforma digital	Métricas anuais de engajamento	Alcance do investidor
Site de Relações com Investidores	1,2 milhão de visitantes únicos	Investidores institucionais globais
Webcast trimestral de ganhos	8.500 participantes vivos	Analistas financeiros, acionistas

Conferências e exposições da indústria de mineração

Newmont participa ativamente de eventos estratégicos da indústria:

• Conferência de metais e mineração
• Conferência de Mineração de Investidores
• Sustainability Summit

Tipo de conferência	Participação anual	Alcance de rede
Conferências globais de mineração	12 grandes eventos	Mais de 5.000 profissionais do setor

Site corporativo e relatórios financeiros

Canais abrangentes de comunicação financeira digital:

• Publicação anual de relatórios
• Relatório de Sustentabilidade
• Downloads de apresentação do investidor

Canal de relatório	Distribuição anual	Acessibilidade digital
Relatório Financeiro Anual	85.000 cópias digitais	Múltiplas opções de idioma
Relatório de Sustentabilidade	62.000 downloads digitais	Formato PDF interativo

Apresentações de comunicação digital e investidores

Estratégias avançadas de comunicação digital:

• Webcasts de apresentação de investidores
• Reuniões virtuais de investidores
• Canais de investidores de mídia social

Método de comunicação digital	Engajamento anual	Alcance da plataforma
Reuniões virtuais de investidores	47 sessões programadas	Investidores institucionais globais
Engajamento do Investidor do LinkedIn	125.000 seguidores	Comunidade de investimento profissional

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

Fabricantes de metais industriais

A Newmont fornece ouro e cobre aos fabricantes industriais globalmente.

Segmento	Consumo anual	Valor de mercado
Fabricação eletrônica	78,6 toneladas de ouro	US $ 4,3 bilhões
Indústria automotiva	42,3 toneladas métricas de cobre	US $ 1,9 bilhão

Empresas de investimentos globais

A Newmont atende a investidores institucionais que buscam exposição preciosa de metal.

• As 50 principais empresas de investimentos globais detêm 62% das ações de capital aberto da Newmont
• Investimento institucional total: US $ 18,7 bilhões
• Holding institucional média: 3,4 milhões de ações

Comerciantes de metal precioso

A Newmont fornece volumes de negociação de ouro e cobre a granel.

Categoria de negociação	Volume anual	Valor total da transação
Comércio de mercado spot	124,5 toneladas métricas	US $ 7,6 bilhões
Comércio de contratos futuros	89,3 toneladas métricas	US $ 5,4 bilhões

Empresas de tecnologia

A Newmont fornece matérias -primas para aplicações tecnológicas.

• Fabricantes de semicondutores: 35,6 toneladas de ouro anualmente
• Setor de energia renovável: 28,4 toneladas de cobre anualmente
• Receita total do setor de tecnologia: US $ 2,9 bilhões

Investidores nacionais e internacionais de mineração

Newmont atrai diversas portfólios de investimento em mineração.

Tipo de investidor	Volume de investimento	Porcentagem de investimento total
Fundos soberanos de riqueza	US $ 6,2 bilhões	24%
Empresas de private equity	US $ 4,7 bilhões	18%
Consórcio Internacional de Mineração	US $ 3,9 bilhões	15%

Newmont Corporation (NEM) - Modelo de negócios: estrutura de custos

Despesas operacionais de exploração e mineração

Em 2022, as despesas operacionais totais de exploração e mineração de Newmont foram de US $ 5,6 bilhões. A quebra dos custos operacionais inclui:

Categoria de custo	Valor (US $ milhões)
Operações de mineração	3,850
Despesas de exploração	350
Manutenção do local	750
Custos de extração	650

Investimentos de tecnologia e equipamentos

Os investimentos em tecnologia e equipamentos de Newmont para 2022 totalizaram US $ 1,2 bilhão, com alocações importantes:

• Atualizações de equipamentos de mineração: US $ 650 milhões
• Tecnologias de transformação digital: US $ 250 milhões
• Sistemas de automação: US $ 180 milhões
• Tecnologias de mineração de precisão: US $ 120 milhões

Custos de conformidade ambiental e sustentabilidade

Os gastos ambientais e de sustentabilidade em 2022 atingiram US $ 475 milhões:

Categoria de sustentabilidade	Valor (US $ milhões)
Redução de emissões	125
Gerenciamento da água	90
Reabilitação da terra	160
Monitoramento de conformidade	100

Gerenciamento de mão -de -obra e força de trabalho

As despesas relacionadas à força de trabalho em 2022 totalizaram US $ 2,1 bilhões:

• Salários e salários: US $ 1,6 bilhão
• Benefícios e seguro: US $ 350 milhões
• Treinamento e desenvolvimento: US $ 90 milhões
• Programas de segurança dos funcionários: US $ 60 milhões

Despesas de pesquisa e desenvolvimento

Os gastos de P&D de Newmont em 2022 foram de US $ 180 milhões, com foco em:

• Innovação do processo de mineração: US $ 80 milhões
• Tecnologias de Mineração Sustentável: US $ 60 milhões
• Tecnologias de exploração geológica: US $ 40 milhões

Estrutura de custo total para 2022: US $ 9,56 bilhões

Newmont Corporation (NEM) - Modelo de negócios: fluxos de receita

Vendas de ouro e cobre

O fluxo de receita principal da Newmont Corporation em 2023 Relatórios Financeiros:

Mercadoria	Produção anual	Receita gerada
Ouro	6,2 milhões de onças	US $ 12,4 bilhões
Cobre	376 milhões de libras	US $ 1,6 bilhão

Negociação e exportação minerais

Receita de exportação para 2023:

• América do Norte: US $ 5,7 bilhões
• América do Sul: US $ 3,2 bilhões
• Austrália/África: US $ 4,9 bilhões

Derivadas de metal precioso

Receita de negociação de derivativos em 2023:

Tipo derivado	Valor total
Futuros de ouro	US $ 425 milhões
Opções de cobre	US $ 187 milhões

Receita de investimento e parceria

Fontes de receita de investimento para 2023:

• Parcerias de joint venture: US $ 612 milhões
• Investimentos estratégicos: US $ 278 milhões

Receitas de royalties e licenciamento

Redução de renda de royalties:

Fonte de royalties	Receita anual
Licenciamento de direitos minerais	US $ 214 milhões
Licenciamento de tecnologia	US $ 87 milhões

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.