Image source: The Motley Fool.
DATE
Thursday, Apr 24, 2025
CALL PARTICIPANTS
Tom Palmer: President and Chief Executive Officer
Karyn Ovelmen: Chief Financial Officer
Natascha Viljoen: Chief Operating Officer
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Gold Production: 1,500,000 ounces in Q1, on track with full-year guidance.
Copper Production: 35,000 tonnes in Q1, aligning with expectations.
Free Cash Flow: $1.2 billion, setting a record for Newmont in Q1 2025.
Adjusted EBITDA: $2.6 billion for the quarter.
Divestment Proceeds: Over $2.5 billion in after-tax cash received year-to-date.
Debt Reduction: $1 billion repaid since the start of 2025.
Share Repurchases: $755 million completed so far in 2025.
Ahafo North Project: On track for first gold pour in second half of 2025.
Gold AISC: $1,651 per ounce, consistent with full-year guidance.
SUMMARY
Newmont Corporation reported strong Q1 2025 results, benefiting from robust production volumes and favorable gold prices. The company completed its divestment program, sharpening focus on 11 managed operations and three projects in execution. Management emphasized prioritizing safety improvements, stabilizing operations, and executing capital returns, focusing on achieving 2025 commitments.
Production weighted 52% towards the second half of 2025, expected to deliver 24% of full-year volumes in Q2.
Lihir operations focused on configuring the mine for sustainable performance through phase 14a, with higher production anticipated from 2028.
“Red Chris is in prime position and it’s spot to lose” for potential future project sanctioning, according to CEO Tom Palmer.
Management monitoring tariff volatility impacts, with global supply chain diversity providing risk mitigation.
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