Newmont Delivers Record Q1 Performance and Completes Divestment Program, Positioning for Further Growth
Newmont, a leading gold and copper mining company, has delivered a strong operational performance in the first quarter of 2025, driving robust financial results. In a recent conference call, Tom Palmer, President and Chief Executive Officer, highlighted the company's record Q1 free cash flow and its commitment to delivering on full-year commitments.
According to the conference call transcript, Newmont has generated $2 billion of cash flow from operations and $1.2 billion in free cash flow during the first quarter, both records for the company. These results were favorably impacted by the rise in gold price in recent months, driven by unprecedented volatility in global financial and commodity markets.
Newmont's safety culture has also seen significant improvement, with a notable decrease in the frequency of significant potential events experienced across its business. The company has launched "Always safe," its reinvigorated safety program focused on delivering prioritized improvements across its portfolio of managed operations and projects.
The company's divestment program has reached completion, with the sale of six high-quality non-core operations, including Musselwhite and Eleonore in Canada and Cripple Creek & Victor in the United States. Newmont has received more than $2.5 billion in after-tax cash proceeds from these transactions and now holds nearly $1.2 billion in both equity and deferred consideration.
With a strong balance sheet, Newmont is well-positioned to deliver on its capital allocation priorities, including share repurchases and dividend payments. The company has completed approximately $2 billion in share repurchases and has retired $1.5 billion in debt over the last 12 months.
Newmont remains committed to safely generating industry-leading free cash flow, maintaining a strong financial position, and returning capital to shareholders. With its priorities for 2025 clear, the company is poised for further growth and success.
