NEWMONT Corp /DE/NEM
NEWMONT Corp /DE/ Revenue Disclosure
SALES
____________________________
____________________________
____________________________
The following tables present the Company’s Sales by mining operation, product and inventory type:
| Year Ended December 31, 2025 | Year Ended December 31, 2024 | Year Ended December 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Gold Doré | Concentrate and Other | Total Sales | Gold Doré | Concentrate and Other | Total Sales | Gold Doré | Concentrate and Other | Total Sales | |||||||||||||||||||||||||||||||||||||||||||||
Managed | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Lihir (1) | $ | 1,983 | $ | — | $ | 1,983 | $ | 1,473 | $ | — | $ | 1,473 | $ | 266 | $ | — | $ | 266 | |||||||||||||||||||||||||||||||||||
Cadia: (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold | 150 | 1,259 | 1,409 | 126 | 992 | 1,118 | 28 | 222 | 250 | ||||||||||||||||||||||||||||||||||||||||||||
| Copper | — | 885 | 885 | — | 743 | 743 | — | 172 | 172 | ||||||||||||||||||||||||||||||||||||||||||||
| Total Cadia | 150 | 2,144 | 2,294 | 126 | 1,735 | 1,861 | 28 | 394 | 422 | ||||||||||||||||||||||||||||||||||||||||||||
| Tanami | 1,353 | — | 1,353 | 988 | — | 988 | 867 | — | 867 | ||||||||||||||||||||||||||||||||||||||||||||
| Boddington: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold | 488 | 1,500 | 1,988 | 353 | 1,064 | 1,417 | 359 | 1,092 | 1,451 | ||||||||||||||||||||||||||||||||||||||||||||
| Copper | — | 258 | 258 | — | 329 | 329 | — | 363 | 363 | ||||||||||||||||||||||||||||||||||||||||||||
| Total Boddington | 488 | 1,758 | 2,246 | 353 | 1,393 | 1,746 | 359 | 1,455 | 1,814 | ||||||||||||||||||||||||||||||||||||||||||||
Ahafo South | 2,266 | — | 2,266 | 1,923 | — | 1,923 | 1,130 | — | 1,130 | ||||||||||||||||||||||||||||||||||||||||||||
Ahafo North (2) | 242 | — | 242 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||
| Merian | 821 | 25 | 846 | 638 | 22 | 660 | 600 | 25 | 625 | ||||||||||||||||||||||||||||||||||||||||||||
| Cerro Negro | 691 | — | 691 | 566 | — | 566 | 510 | — | 510 | ||||||||||||||||||||||||||||||||||||||||||||
| Yanacocha | 1,781 | 23 | 1,804 | 833 | 8 | 841 | 526 | 11 | 537 | ||||||||||||||||||||||||||||||||||||||||||||
| Peñasquito: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold | — | 1,492 | 1,492 | — | 713 | 713 | 36 | 221 | 257 | ||||||||||||||||||||||||||||||||||||||||||||
Silver (3) | — | 1,080 | 1,080 | — | 792 | 792 | — | 335 | 335 | ||||||||||||||||||||||||||||||||||||||||||||
| Lead | — | 183 | 183 | — | 195 | 195 | — | 96 | 96 | ||||||||||||||||||||||||||||||||||||||||||||
| Zinc | — | 664 | 664 | — | 622 | 622 | — | 213 | 213 | ||||||||||||||||||||||||||||||||||||||||||||
| Total Peñasquito | — | 3,419 | 3,419 | — | 2,322 | 2,322 | 36 | 865 | 901 | ||||||||||||||||||||||||||||||||||||||||||||
Red Chris: (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold | — | 218 | 218 | — | 96 | 96 | — | 9 | 9 | ||||||||||||||||||||||||||||||||||||||||||||
| Copper | — | 295 | 295 | — | 229 | 229 | — | 23 | 23 | ||||||||||||||||||||||||||||||||||||||||||||
| Total Red Chris | — | 513 | 513 | — | 325 | 325 | — | 32 | 32 | ||||||||||||||||||||||||||||||||||||||||||||
Brucejack (1) | 540 | 284 | 824 | 415 | 195 | 610 | 48 | 24 | 72 | ||||||||||||||||||||||||||||||||||||||||||||
Non-managed | |||||||||||||||||||||||||||||||||||||||||||||||||||||
NGM (4) | 3,387 | 173 | 3,560 | 2,336 | 149 | 2,485 | 2,178 | 93 | 2,271 | ||||||||||||||||||||||||||||||||||||||||||||
Divested (5) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| CC&V | 88 | — | 88 | 347 | — | 347 | 332 | — | 332 | ||||||||||||||||||||||||||||||||||||||||||||
| Musselwhite | 94 | — | 94 | 516 | — | 516 | 351 | — | 351 | ||||||||||||||||||||||||||||||||||||||||||||
| Porcupine | 177 | — | 177 | 673 | — | 673 | 503 | — | 503 | ||||||||||||||||||||||||||||||||||||||||||||
| Éléonore | 138 | — | 138 | 583 | — | 583 | 453 | — | 453 | ||||||||||||||||||||||||||||||||||||||||||||
| Akyem | 131 | — | 131 | 495 | — | 495 | 574 | — | 574 | ||||||||||||||||||||||||||||||||||||||||||||
Telfer: (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold | — | — | — | 47 | 195 | 242 | 20 | 115 | 135 | ||||||||||||||||||||||||||||||||||||||||||||
| Copper | — | — | — | — | 26 | 26 | — | 17 | 17 | ||||||||||||||||||||||||||||||||||||||||||||
| Total Telfer | — | — | — | 47 | 221 | 268 | 20 | 132 | 152 | ||||||||||||||||||||||||||||||||||||||||||||
| Consolidated | $ | 14,330 | $ | 8,339 | $ | 22,669 | $ | 12,312 | $ | 6,370 | $ | 18,682 | $ | 8,781 | $ | 3,031 | $ | 11,812 | |||||||||||||||||||||||||||||||||||
(1)Sites acquired through the Newcrest transaction. Refer to Note 3 for further information.
(2)In October 2025, the Company declared commercial production at its Ahafo North project in Ghana resulting in classification as a reportable segment.
(3)Silver sales from concentrate includes $84, $91, and $42 related to non-cash amortization of the silver streaming agreement liability for the years ended December 31, 2025, 2024, and 2023, respectively.
(4)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $3,410, $2,338, and $2,174 for the years ended December 31, 2025, 2024, and 2023, respectively.
(5)The Company completed the sale of Telfer in the fourth quarter of 2024, CC&V, Musselwhite, and Éléonore in the first quarter of 2025, and Porcupine and Akyem in the second quarter of 2025. Refer to Note 3 for information on the Company's divestitures.
Trade Receivables and Provisional Sales
At December 31, 2025 and December 31, 2024, Trade receivables primarily consisted of sales from provisionally priced concentrate and other production. Changes in pricing on provisional sales resulted in an increase to Sales of $572, $125, and $37 for the years ended December 31, 2025, 2024, and 2023, respectively.
At December 31, 2025, Newmont had the following provisionally priced concentrate sales subject to final pricing over the next several months:
____________________________
Provisionally Priced Sales Subject to Final Pricing (1) | Average Provisional Price (per ounce/pound) | ||||||||||
| Gold (ounces, in thousands) | 141 | $ | 4,332 | ||||||||
| Copper (pounds, in millions) | 66 | $ | 5.65 | ||||||||
| Silver (ounces, in millions) | 7 | $ | 70.31 | ||||||||
| Lead (pounds, in millions) | 48 | $ | 0.90 | ||||||||
| Zinc (pounds, in millions) | 84 | $ | 1.41 | ||||||||
(1)Includes provisionally priced by-product sales subject to final pricing, which are recognized in Costs applicable to sales.
Silver Streaming Agreement
The Company is obligated to sell 25% of silver production from the Peñasquito mine to Wheaton Precious Metals Corporation at the lesser of market price or a fixed contract price, subject to an annual inflation adjustment of up to 1.65%. This agreement contains off-market terms and was initially recognized at its acquisition date fair value as a finite-lived intangible liability. The current and non-current portion are recorded to Other current liabilities and Silver streaming agreement, respectively. The Company’s policy is to amortize the liability into Sales each period using the units-of-production method. During the years ended December 31, 2025, 2024, and 2023, the Company amortized $84, $91, and $42, respectively, of the liability into revenue. At December 31, 2025 and 2024, the value of the liability included in the Consolidated Balance Sheet was $691 and $775, respectively.
Revenue by Geographic Area
Newmont primarily conducts metal sales in U.S. dollars, and therefore Sales are not exposed to fluctuations in foreign currencies. Revenues from sales attributed to countries based on the location of the customer were as follows:
| Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
United Kingdom (1) | $ | 13,068 | $ | 10,966 | $ | 7,637 | |||||||||||
| South Korea | 3,196 | 1,956 | 975 | ||||||||||||||
| Japan | 2,002 | 1,920 | 512 | ||||||||||||||
| China | 1,411 | 318 | 102 | ||||||||||||||
| Australia | 803 | 409 | 376 | ||||||||||||||
Mexico | 639 | 600 | 240 | ||||||||||||||
| Switzerland | 89 | 638 | 600 | ||||||||||||||
| Philippines | 82 | 709 | 451 | ||||||||||||||
| United States | — | 2 | 48 | ||||||||||||||
| Other | 1,379 | 1,164 | 871 | ||||||||||||||
| $ | 22,669 | $ | 18,682 | $ | 11,812 | ||||||||||||
(1)Includes $84, $91, and $42 related to non-cash amortization of the silver streaming agreement liability for the years ended December 31, 2025, 2024, and 2023, respectively.
Revenue by Major Customer
As gold can be sold through numerous gold market traders worldwide, the Company is not economically dependent on a limited number of customers for the sale of its product. The Company sells copper, silver, lead, and zinc predominantly in the form of concentrates. The concentrates are sold under a combination of short-term and long-term supply contracts with processing fees based on the demand for these concentrates in the global marketplace.
Customers with revenue in excess of 10% of total Sales consisted of the following:
| Year Ended December 31, | |||||||||||||||||||||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||||||||||||||||||||
Standard Chartered | $ | 6,009 | 27 | % | $ | 4,833 | 26 | % | $ | 1,659 | 14 | % | |||||||||||||||||||||||
JPMorgan Chase | $ | 2,499 | 11 | % | $ | 2,317 | 12 | % | $ | 2,583 | 22 | % | |||||||||||||||||||||||
Royal Bank of Canada | * | * | $ | 1,897 | 10 | % | $ | 1,765 | 15 | % | |||||||||||||||||||||||||
Toronto Dominion Bank | * | * | * | * | $ | 1,630 | 14 | % | |||||||||||||||||||||||||||
*Sales during the year did not meet the 10% disaggregation threshold.
Free Sentinel
Track for freeWant the next NEWMONT Corp /DE/ revenue disclosure the moment it drops?
Set a Sentinel and we'll alert you the moment NEWMONT Corp /DE/'s next filing hits EDGAR. No credit card, your email never gets sold.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 19, 2026 | Showing above |
| 2024 | Feb 21, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Feb 24, 2022 | |
| 2020 | Feb 18, 2021 | |
| 2019 | Feb 20, 2020 | |
| 2018 | Feb 21, 2019 | |
| 2017 | Feb 22, 2018 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.