Newmont Reports 2021 Mineral Reserves of 93 million Gold Ounces and 65 million Gold Equivalent Ounces

By: Newmont Corporation via Business Wire

February 24, 2022 at 07:05 AM EST

Newmont Corporation (NYSE: NEM, TSX: NGT) reported gold Mineral Reserves (reserves) of 92.8 million attributable ounces for 2021 compared to the Company’s 94.2 million ounces at the end of 2020. Newmont has significant upside to other metals, including more than 15 billion pounds of copper reserves and nearly 600 million ounces of silver reserves. In addition, reserves and resources were further strengthened with the purchase of Buenaventura's 43.65% interest in Minera Yanacocha in February 2022, adding 2.7 million ounces of gold reserves, 11.0 million gold resources, 700 million pounds of copper reserves and 2.6 billion copper resources.¹

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PERCENTAGE OF GOLD RESERVES BY JURISDICTION

"Newmont's world-class portfolio of operations and projects is underpinned by a robust foundation of reserves and resources, along with the most extensive exploration program in the industry," said Tom Palmer, President and CEO. "In 2021, more than 80 percent of depletion was replaced as we continue to progress our most profitable greenfield and near-mine projects. Exploration continues to be a core competency at Newmont with a focus on extending mine life, developing districts, and discovering new opportunities in the most favorable jurisdictions."

KEY HIGHLIGHTS AND DIFFERENTIATORS:

Robust gold Mineral Reserves of 92.8 million ounces
Over 90 percent of gold reserves in top-tier jurisdictions
Addition of 6.5 million ounces in 2021 primarily through drilling
Gold reserve life at operating sites of 10 years or more, underpinned by a strong base at Boddington, Tanami, Ahafo, Yanacocha, Peñasquito, and Nevada Gold Mines (NGM), and further enhanced from our seven other operating mines and equity ownership in Pueblo Viejo
Significant gold reserves per share with 120 ounces per 1,000 shares, including the purchase of Buenaventura's interest in Minera Yanacocha
Measured & Indicated gold Mineral Resources of 68.3 million ounces and Inferred of 33.2 million ounces
Significant exposure to copper with 15.1 billion pounds in reserves, 17.8 billion pounds in Measured & Indicated resources and 8.6 billion pounds in Inferred resources
Additional exposure to other metals such as silver, zinc, and lead mainly at Peñasquito
Announced the acquisition of Buenaventura's 43.65% interest in Minera Yanacocha in February 2022; further enhancing world-class asset ownership with a consistent district consolidation strategy¹

PERCENTAGE OF GOLD RESERVES BY JURISDICTION²

Newmont’s reserve base is a key differentiator with over 90 percent of gold reserves located in top-tier jurisdictions, an operating reserve life of more than 10 years and average reserve grade of 1.06 grams per tonne. In addition, Newmont has substantial exposure to other metals, with 65 million gold equivalent ounces³ from copper, silver, zinc, lead and molybdenum.

PROVEN & PROBABLE GOLD RESERVES

In millions of ounces
2020 Gold Reserves	94.2
Additions	6.5
Net Revisions	(0.8	)
Depletion	(7.1	)
Reported 2021 Gold Reserves	92.8
Minera Yanacocha Transaction⁴	2.7
Adjusted 2021 Gold Reserves	95.5

For 2021, Newmont reported 92.8 million ounces of gold Mineral Reserves, slightly lower than the prior year total of 94.2 million ounces. Depletion of 7.1 million ounces and unfavorable net revisions of 0.8 million ounces were largely offset by additions of 6.5 million ounces.

Additions before revisions of 6.5 million ounces through exploration met the Company’s target despite higher costs and challenges created by the pandemic with travel restrictions and additional safety protocols. Notable reserve additions for the year from Newmont’s operating sites included:

Cerro Negro added 1.1 million ounces primarily due to drilling in the Eastern Districts
Tanami added 0.8 million ounces largely due to the first declaration of reserves at Liberator
Éléonore added 0.4 million ounces primarily from drilling
Merian added 0.4 million attributable ounces primarily from drilling at the Maraba open pit
Ahafo added 0.4 million ounces primarily from drilling and updated technical assumptions at Subika Underground
Newmont’s 38.5 percent interest in NGM added 3.0 million attributable ounces primarily from drilling at Goldrush

Net unfavorable revisions include 0.9 million ounces at Cerro Negro due to reserve downgrades related to drill spacing studies and updated technical assumptions. In addition gold Mineral Reserves reported negative revisions of 0.4 million ounces at Tanami, 0.2 million ounces at Boddington, 0.2 million ounces at Porcupine underground and 0.2 million ounces at Pueblo Viejo. Negative revisions were partially offset by favorable revisions of 0.6 million attributable ounces at NGM and 0.4 million ounces at Éléonore, in addition to acquisitions of 0.1 million attributable ounces related to South Arturo at NGM.

Newmont’s 38.5 percent interest in NGM represented 19.3 million attributable ounces of gold reserves at year end, as compared to 17.4 million ounces at the end of 2020. Pueblo Viejo represented 3.6 million attributable ounces of gold reserves at year end as compared to 4.1 million ounces at the end of 2020, representing Newmont’s 40 percent interest.

Gold reserve grade improved three percent to 1.06 grams per tonne compared to 1.03 grams per tonne in the prior year largely due to higher-grade reserves from the Company’s 38.5 percent equity ownership in Nevada Gold Mines and positive results from our underground managed operations, including Éléonore, Tanami and Porcupine.

MEASURED & INDICATED GOLD RESOURCES			INFERRED GOLD RESOURCES
In millions of ounces			In millions of ounces
2020 Gold Resources	69.6		2020 Gold Resources	31.6
Additions	1.6		Additions	3.3
Net Revisions	3.0		Net Revisions	0.6
Conversions	(5.9	)	Conversions	(2.3	)
Reported 2021 Gold Resources	68.3		Reported 2021 Gold Resources	33.2
Minera Yanacocha Transaction⁴	7.4		Minera Yanacocha Transaction⁴	3.6
Adjusted 2021 Gold Resources	75.7		Adjusted 2021 Gold Resources	36.8

In 2021, Newmont reported Measured and Indicated gold Mineral Resources of 68.3 million ounces as compared to 69.6 million ounces in the prior year. Inferred gold Mineral Resources totaled 33.2 million ounces as compared to 31.6 million ounces in 2020. In total, resource conversions to reserves were more than offset by additions and net positive revisions.

Measured and Indicated Gold Mineral Resources added through exploration programs were 1.6 million ounces and included notable additions before revisions of 0.3 million ounces at Tanami and 0.2 million ounces at Ahafo South underground.

Measured and Indicated gold Mineral Resources reported net revisions of 3.0 million ounces mainly driven by positive revisions of 1.3 million ounces at Boddington and 0.6 million ounces at Tanami. Additionally NGM added 2.1 million attributable ounces. Positive revisions were partially offset by negative revisions, including 1.1 million ounces at CC&V and 0.5 million ounces at Peñasquito.

Inferred Gold Mineral Resources added through exploration programs were 3.3 million ounces and included notable additions before revisions of 0.4 million ounces at Ahafo South, 0.4 million ounces at Éléonore, 0.4 million ounces at Cerro Negro and 0.4 million ounces at Tanami. Additionally, NGM added 0.8 million attributable ounces.

Inferred Gold Mineral Resources reported net revisions of 0.6 million ounces mainly driven by positive revisions of 0.6 million ounces at Cerro Negro and 0.3 million ounces at Ahafo South underground. Additionally, NGM added 1.1 million attributable ounces. Positive revisions were partially offset by negative revisions of 0.7 million ounces at Peñasquito and 0.5 million ounces at Tanami.

Newmont’s Measured and Indicated gold Mineral Resource grade increased slightly to 0.66 grams per tonne compared to 0.65 grams per tonne in the prior year. Inferred gold Mineral Resource grade of 0.69 grams per tonne increased compared with 0.65 grams per tonne from 2020.

OTHER METALS

In 2021, copper reserves decreased slightly to 15,090 million pounds from 15,220 pounds in the prior year primarily due to mining depletion. Copper resources increased to 17,820 million pounds of Measured & Indicated and 8,640 million pounds of Inferred from 17,620 million pounds of Measured and Indicated and 8,620 million pounds of Inferred due to the addition of a layback at Boddington. 2021 copper figures exclude 700 million pounds of reserves and 2,645 million pounds of resources acquired through the purchase of Buenaventura's 43.65% interest in Minera Yanacocha in February 2022.

Silver reserves decreased from 613 million ounces to 568 million ounces in the prior year, largely due to depletion at Peñasquito. Silver resources also decreased to 422 million ounces of Measured & Indicated and 163 million ounces of Inferred from 482 million ounces of Measured and Indicated and 204 million ounces of Inferred due to design updates at Peñasquito. 2021 silver figures exclude 49 million pounds of resources acquired through the purchase of Buenaventura's 43.65% interest in Minera Yanacocha in February 2022.

Lead reserves decreased to 2,580 million pounds from 2,940 million pounds in the prior year, and zinc reserves also decreased to 6,250 million pounds from 6,810 million pounds. These decreases are largely due to depletion at Peñasquito. Measured & Indicated lead resources decreased to 1,230 million pounds from 1,700 million pounds and Inferred lead resources decreased to 480 million pounds from 900 million pounds. Measured & Indicated zinc resources decreased to 2,690 million pounds from 3,700 million pounds and Inferred zinc resources decreased to 1,070 million pounds from 1,700 million pounds. These decreases are primarily due to design updates at Peñasquito.

¹		The reserve and resource table contained herein reflect Newmont's ownership as of December 31, 2021. Investors are reminded that with the February 8, 2022 closing of Newmont's acquisition of Buenaventura's 43.65% interest in Minera Yanacocha, Newmont now holds a 95% interest.
²		North America includes 38.5 percent interest in Nevada Gold Mines; South America includes Newmont's 40 percent interest in Pueblo Viejo.
³		Gold Equivalent Ounces calculated using Mineral Reserve pricing as shown below and metallurgical recoveries for each metal on a site by site basis.
⁴		In February 2022, Newmont acquired Buenaventura's 43.65% interest in Minera Yanacocha.

EXPLORATION OUTLOOK

Newmont’s attributable exploration expenditure for managed operations is expected to be approximately $250 million in 2022 with 80 percent of total exploration investment dedicated to near-mine expansion programs and the remaining 20 percent allocated to the advancement of greenfield projects.

Additionally, Newmont’s share of exploration investment for its non-managed joint ventures will total approximately $45 million.

Geographically, the Company expects to invest approximately 38 percent in North America, 23 percent in South America, 17 percent in Australia and the remainder in Africa and other locations.

GOLD RESERVE SENSITIVITY

A $100 increase in gold price would result in an approximate six percent increase in gold reserves while a $100 decrease in gold price would result in an approximate eight percent decrease in gold reserves. These sensitivities assume an oil price of $60 per barrel (WTI), Australian dollar exchange rate of $0.75 and Canadian dollar exchange rate of $0.77.

For additional details on Newmont’s reported Gold, Copper, Silver, Zinc, Lead and Molybdenum Mineral Reserves and Mineral Resources, please refer to the tables at the end of this release.

KEY RESERVE AND RESOURCE ASSUMPTIONS:

	At December 31,
	2021	2020
Gold Reserves (US$/oz.)	$1,200	$1,200
Gold Resources (US$/oz.)	$1,400	$1,400
Copper Reserves (US$/lb.)	$2.75	$2.75
Copper Resources (US$/lb.)	$3.25	$3.25
Silver Reserves (US$/oz.)	$20.00	$17.00
Silver Resources (US$/oz.)	$23.00	$20.00
Zinc Reserves (US$/lb.)	$1.15	$1.15
Zinc Resources (US$/lb.)	$1.40	$1.40
Lead Reserves (US$/lb.)	$0.90	$0.90
Lead Resources (US$/lb.)	$1.10	$1.10
Australian Dollar (A$:US$)	$0.75	$0.75
Canadian Dollar (C$:US$)	$0.77	$0.77
Mexican Peso (M$:US$)	$19.50	$19.50
West Texas Intermediate (US$/bbl.)	$60	$50

RESERVE AND RESOURCE TABLES

Proven and Probable reserves are based on extensive drilling, sampling, mine modeling and metallurgical testing from which we determine economic feasibility. The price sensitivity of reserves depends upon several factors including grade, metallurgical recovery, operating cost, waste-to-ore ratio and ore type. Metallurgical recovery rates vary depending on the metallurgical properties of each deposit and the production process used. The reserve tables included in this release list the average metallurgical recovery rate for each deposit, which takes into account the assumed processing methods. The cut-off grade, or lowest grade of material considered economic to process, varies with material type, price, metallurgical recoveries, operating costs and co- or by-product credits. The Proven and Probable reserve figures presented herein are estimates based on information available at the time of calculation. No assurance can be given that the indicated levels of recovery of gold, silver, copper, lead, zinc and molybdenum will be realized. Ounces of gold and silver or tonnes of copper, zinc, lead, or molybdenum included in the Proven and Probable reserves are those contained prior to losses during metallurgical treatment. Reserve estimates may require revision based on actual production. Market fluctuations in the price of gold, silver, copper, zinc, lead, or molybdenum, as well as increased production costs or reduced metallurgical recovery rates, could render certain Proven and Probable reserves containing relatively lower grades of mineralization uneconomic to exploit and might result in a reduction of reserves.

The Measured, Indicated, and Inferred resource figures presented herein are estimates based on information available at the time of calculation and are exclusive of reserves. A “Mineral Resource” is a concentration or occurrence of solid material of economic interest in or on the Earth’s crust in such form, grade, or quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade or quality, continuity and other geological characteristics of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling. Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories. Ounces of gold and silver or tonnes of copper, zinc, lead, and molybdenum included in the Measured, Indicated and Inferred resources are those contained prior to losses during metallurgical treatment. Market fluctuations in the price of gold, silver, copper, zinc, lead and molybdenum, as well as increased production costs or reduced metallurgical recovery rates, could change future estimates of resources. Please refer to the reserves and resources cautionary statement at the end of the release.

Proven and Probable reserves disclosed at December 31, 2021 have been prepared in accordance with the new Regulation S-K 1300 requirements of the SEC; whereas Proven and Probable reserves disclosed at December 31, 2020 have been prepared in accordance with the SEC’s Industry Guide 7 ("IG7"). Our historical methodology applied to the prior year of estimating reserves was not significantly impacted as a result of the change from IG7 to S-K 1300, therefore we believe the amounts presented at December 31, 2021 and 2020, under the respective methodologies, are comparable.

We publish reserves annually, and will recalculate reserves at December 31, 2022, taking into account metal prices, changes, if any, to future production and capital costs, divestments and depletion as well as any acquisitions and additions during 2022.

Attributable Proven, Probable and Combined Gold Reserves⁽¹⁾
December 31, 2021														December 31, 2020
			Proven Reserves			Probable Reserves			Proven and Probable Reserves					Proven and Probable Reserves
			Tonnage ⁽²⁾	Grade	Gold ⁽³⁾	Tonnage ⁽²⁾	Grade	Gold ⁽³⁾	Tonnage ⁽²⁾	Grade	Gold ⁽³⁾			Tonnage ⁽²⁾	Grade	Gold ⁽³⁾
Deposits/Districts	Newmont Share		(000 tonnes)	(g/tonne)	Ounces (000)	(000 tonnes)	(g/tonne)	Ounces (000)	(000 tonnes)	(g/tonne)	Ounces (000)	Metallurgical Recovery		(000 tonnes)	(g/tonne)	Ounces (000)
North America
CC&V Open Pits ⁽⁴⁾	100	%	70,700	0.44	1,000	15,400	0.37	180	86,100	0.43	1,180	60	%	105,200	0.48	1,610
CC&V Leach Pads ⁽⁴⁾⁽⁵⁾	100	%	—		—	31,200	0.81	810	31,200	0.81	810	57	%	33,000	0.82	880
Total CC&V, Colorado			70,700	0.44	1,000	46,600	0.66	990	117,300	0.53	1,990	59	%	138,200	0.56	2,490
Musselwhite, Canada ⁽⁶⁾	100	%	2,800	5.07	460	6,700	6.07	1,310	9,500	5.77	1,770	96	%	8,900	6.25	1,790
Porcupine Underground ⁽⁷⁾	100	%	2,300	7.24	530	900	7.97	240	3,200	7.46	770	92	%	5,000	6.90	1,100
Porcupine Open Pit⁽⁸⁾	100	%	5,900	1.60	310	33,700	1.41	1,520	39,600	1.44	1,830	94	%	42,300	1.43	1,950
Total Porcupine, Canada			8,200	3.19	840	34,600	1.58	1,760	42,800	1.89	2,600	93	%	47,300	2.01	3,050
Éléonore, Canada ⁽⁹⁾	100	%	2,200	5.03	350	9,000	5.06	1,470	11,200	5.05	1,820	91	%	7,800	5.00	1,260
Peñasquito Open Pits	100	%	107,200	0.62	2,140	219,100	0.56	3,910	326,300	0.58	6,050	69	%	348,200	0.60	6,680
Peñasquito Stockpiles ⁽¹⁰⁾	100	%	7,800	0.43	110	27,900	0.19	170	35,700	0.24	280	69	%	39,600	0.33	420
Total Peñasquito, Mexico ⁽¹¹⁾			115,000	0.61	2,250	247,000	0.51	4,080	362,000	0.54	6,330	69	%	387,800	0.57	7,100
TOTAL NORTH AMERICA			198,900	0.77	4,900	343,900	0.87	9,610	542,800	0.83	14,510	78	%	590,000	0.83	15,690
South America
Yanacocha Open Pits ⁽¹²⁾	51.35	%	16,500	0.66	350	68,200	0.68	1,490	84,700	0.68	1,840	57	%	95,100	0.66	2,020
Yanacocha Underground ⁽¹³⁾	51.35	%	—		—	7,000	6.20	1,390	7,000	6.20	1,390	97	%	7,000	6.20	1,390
Total Yanacocha, Peru ⁽²⁶⁾			16,500	0.66	350	75,200	1.19	2,880	91,700	1.10	3,230	74	%	102,100	1.04	3,410
Merian, Suriname ⁽¹⁴⁾	75	%	47,100	1.36	2,050	54,500	1.11	1,950	101,600	1.22	4,000	93	%	107,500	1.15	3,970
Cerro Negro, Argentina ⁽¹⁵⁾	100	%	1,800	8.93	500	7,200	8.88	2,060	9,000	8.89	2,560	94	%	9,000	8.90	2,570
Pueblo Viejo Open Pits	40	%	5,000	2.20	350	8,200	2.33	620	13,200	2.28	970	89	%	19,600	2.34	1,470
Pueblo Viejo Stockpiles ⁽¹⁰⁾	40	%	—		—	37,400	2.20	2,640	37,400	2.20	2,640	89	%	35,800	2.30	2,640
Total Pueblo Viejo, Dominican Republic ⁽¹⁶⁾			5,000	2.20	350	45,600	2.22	3,260	50,600	2.22	3,610	89	%	55,400	2.31	4,110
NuevaUnión, Chile ⁽¹⁷⁾	50	%	—		—	341,100	0.47	5,110	341,100	0.47	5,110	66	%	341,100	0.47	5,110
Norte Abierto, Chile ⁽¹⁸⁾	50	%	—		—	598,800	0.60	11,620	598,800	0.60	11,620	74	%	598,800	0.60	11,620
TOTAL SOUTH AMERICA			70,400	1.44	3,250	1,122,400	0.75	26,880	1,192,800	0.79	30,130	78	%	1,213,900	0.79	30,790
Australia
Boddington Open Pit	100	%	237,400	0.70	5,360	239,100	0.66	5,080	476,500	0.68	10,440	86	%	534,700	0.67	11,490
Boddington Stockpiles ⁽¹⁶⁾	100	%	2,700	0.68	60	79,100	0.43	1,090	81,800	0.44	1,150	79	%	86,400	0.43	1,200
Total Boddington, Western Australia ⁽¹⁹⁾			240,100	0.70	5,420	318,200	0.60	6,170	558,300	0.65	11,590	85	%	621,100	0.64	12,690
Tanami, Northern Territory ⁽²⁰⁾	100	%	12,700	4.97	2,040	22,100	5.25	3,740	34,800	5.15	5,780	98	%	36,200	5.05	5,870
TOTAL AUSTRALIA			252,800	0.92	7,460	340,300	0.91	9,910	593,100	0.91	17,370	89	%	657,300	0.88	18,560
Africa
Ahafo South Open Pits ⁽²¹⁾	100	%	11,800	2.35	890	39,700	1.67	2,140	51,500	1.83	3,030	95	%	50,000	1.90	3,050
Ahafo South Underground ⁽²²⁾	100	%	9,400	3.76	1,140	12,700	2.68	1,100	22,100	3.14	2,240	94	%	17,100	3.53	1,940
Ahafo South Stockpiles ⁽¹⁰⁾	100	%	28,300	0.92	830	—		—	28,300	0.92	830	89	%	36,200	0.92	1,070
Total Ahafo South, Ghana			49,500	1.80	2,860	52,400	1.92	3,240	101,900	1.86	6,100	94	%	103,300	1.82	6,060
Ahafo North, Ghana ⁽²³⁾	100	%	—		—	46,300	2.40	3,570	46,300	2.40	3,570	91	%	45,100	2.40	3,480
Akyem Open Pit ⁽²⁴⁾	100	%	15,800	1.61	810	10,900	1.89	660	26,700	1.72	1,470	92	%	34,200	1.70	1,870
Akyem Stockpiles ⁽¹⁰⁾	100	%	13,900	0.78	350	—		—	13,900	0.78	350	91	%	15,100	0.82	400
Total Akyem, Ghana			29,700	1.22	1,160	10,900	1.89	660	40,600	1.40	1,820	91	%	49,300	1.43	2,270
TOTAL AFRICA			79,200	1.58	4,020	109,600	2.12	7,470	188,800	1.89	11,490	92	%	197,700	1.86	11,810
Nevada
NGM Open Pits	38.5	%	10,000	1.86	600	119,500	1.21	4,650	129,500	1.26	5,250	70	%	134,300	1.26	5,440
NGM Stockpiles ⁽¹⁰⁾	38.5	%	14,300	2.03	940	14,900		1,250	29,200	2.33	2,190	68	%	33,300	2.36	2,530
NGM Underground	38.5	%	13,600	9.95	4,340	28,000	8.39	7,560	41,600	8.90	11,900	88	%	29,700	9.85	9,420
TOTAL NEVADA ⁽²⁵⁾			37,900	4.82	5,880	162,400	2.58	13,460	200,300	3.00	19,340	81	%	197,300	2.74	17,390
TOTAL NEWMONT			639,200	1.24	25,510	2,078,600	1.01	67,330	2,717,800	1.06	92,840	81	%	2,856,200	1.03	94,240

⁽¹⁾		See cautionary statement regarding reserves and resources. 2021 and 2020 reserves were estimated at a gold price of $1,200 per ounce unless otherwise noted.
⁽²⁾		Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to the nearest 100,000.
⁽³⁾		Ounces are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Ounces may not recalculate as they are rounded to the nearest 10,000.
⁽⁴⁾		Cut-off grades utilized in 2021 reserves were as follows: oxide mill material not less than 1.32 gram per tonne and leach material not less than 0.10 gram per tonne.
⁽⁵⁾		Leach pad material is the material on leach pads at the end of the year from which gold remains to be recovered. In-process reserves are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.
⁽⁶⁾		Cut-off grade utilized in 2021 reserves not less than 3.10 gram per tonne.
⁽⁷⁾		Cut-off grade utilized in 2021 reserves not less than 4.00 gram per tonne.
⁽⁸⁾		Cut-off grade utilized in 2021 reserves not less than 0.44 gram per tonne.
⁽⁹⁾		Cut-off grade utilized in 2021 reserves not less than 4.30 gram per tonne.
⁽¹⁰⁾		Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.
⁽¹¹⁾		Gold cut-off grade varies with level of silver, lead and zinc credits.
⁽¹²⁾		Gold cut-off grades utilized in 2021 reserves were as follows: oxide leach material not less than 0.07 gram per tonne and refractory mill material not less than 1.45 gram per tonne.
⁽¹³⁾		Gold cut-off grades utilized in 2021 reserves were as follows: oxide mill material not less than 2.10 gram per tonne and refractory mill material varies with level of copper and silver credits.
⁽¹⁴⁾		Cut-off grade utilized in 2021 reserves not less than 0.33 gram per tonne.
⁽¹⁵⁾		Cut-off grade utilized in 2021 reserves not less than 5.00 gram per tonne.
⁽¹⁶⁾		The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Reserve estimates provided by Barrick, the operator of Pueblo Viejo.
⁽¹⁷⁾		Project is currently undeveloped. Reserve estimates provided by the NuevaUnión joint venture.
⁽¹⁸⁾		Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture
⁽¹⁹⁾		Gold cut-off grade varies with level of copper credits.
⁽²⁰⁾		Cut-off grade utilized in 2021 reserves not less than 2.20 gram per tonne.
⁽²¹⁾		Cut-off grade utilized in 2021 reserves not less than 0.46 gram per tonne.
⁽²²⁾		Cut-off grade utilized in 2021 reserves not less than 2.40 gram per tonne.
⁽²³⁾		Cut-off grade utilized in 2021 reserves not less than 0.57 gram per tonne.
⁽²⁴⁾		Cut-off grade utilized in 2021 reserves not less than 0.56 gram per tonne.
⁽²⁵⁾		Reserve estimates provided by Barrick, the operator of the NGM joint venture.
⁽²⁶⁾		In February 2022, the Company increased its ownership interest in Yanacocha to 95% by acquiring Buenaventura’s 43.65% noncontrolling interest. See Note 1 of the Consolidated Financial Statements for further information.

Attributable Gold Mineral Resources ⁽¹⁾⁽²⁾ - December 31, 2021
			Measured Resource			Indicated Resource			Measured and Indicated Resource ⁽³⁾			Inferred Resource
	Newmont		Tonnage	Grade	Gold	Tonnage	Grade	Gold	Tonnage	Grade	Gold	Tonnage	Grade	Gold
Deposits/Districts	Share		(000 tonnes)	(g/tonne)	Ounces (000)	(000 tonnes)	(g/tonne)	Ounces (000)	(000 tonnes)	(g/tonne)	Ounces (000)	(000 tonnes)	(g/tonne)	Ounces (000)	Metallurgical Recovery
North America
CC&V,Colorado	100	%	54,000	0.41	700	24,100	0.38	300	78,100	0.40	1,000	12,700	0.39	160	62	%
Musselwhite, Canada	100	%	1,400	3.58	160	2,300	3.55	270	3,700	3.56	430	3,200	4.22	440	96	%
Porcupine Underground	100	%	300	5.25	50	900	6.12	180	1,200	5.92	230	1,100	6.43	220	92	%
Porcupine Open Pit	100	%	500	0.49	10	83,200	1.40	3,750	83,700	1.40	3,760	77,000	1.24	3,070	92	%
Total Porcupine, Canada			800	2.33	60	84,100	1.45	3,930	84,900	1.46	3,990	78,100	1.31	3,290	92	%
Éléonore, Canada	100	%	300	5.72	50	1,700	4.73	260	2,000	4.86	310	3,800	5.28	650	91	%
Peñasquito, Mexico	100	%	31,400	0.27	280	176,600	0.27	1,500	208,000	0.27	1,780	89,800	0.40	1,160	69	%
Noche Buena, Mexico	50	%	—	—	—	21,000	0.37	250	21,000	0.37	250	1,600	0.21	10	50	%
Coffee, Canada	100	%	1,000	2.01	60	54,500	1.19	2,080	55,500	1.20	2,140	6,800	1.07	230	80	%
Galore Creek, Canada ⁽³⁾	50	%	128,400	0.36	1,500	423,400	0.23	3,130	551,800	0.26	4,630	99,100	0.21	670	73	%
TOTAL NORTH AMERICA			217,300	0.40	2,810	787,700	0.46	11,720	1,005,000	0.45	14,530	295,100	0.70	6,610	79	%
South America
Conga, Peru	51.35	%	—	—	—	356,300	0.65	7,490	356,300	0.65	7,490	118,400	0.39	1,480	75	%
Yanacocha Open Pit	51.35	%	5,500	0.42	70	52,400	0.46	770	57,900	0.46	840	96,700	0.80	2,470	66	%
Yanacocha Underground	51.35	%	—	6.29	10	1,800	6.28	370	1,800	6.28	380	1,900	4.93	300	97	%
Total Yanacocha, Peru ⁽⁹⁾			5,500	0.45	80	54,200	0.65	1,140	59,700	0.64	1,220	98,600	0.87	2,770	70	%
Merian, Suriname	75	%	4,500	0.94	140	32,600	1.14	1,200	37,100	1.12	1,340	28,500	1.01	920	88	%
Cerro Negro Underground	100	%	100	5.48	20	1,300	7.38	300	1,400	7.25	320	7,500	6.85	1,650	93	%
Cerro Negro Open Pit	100	%	900	4.40	120	1,000	4.09	130	1,900	4.24	250	100	3.49	10	90	%
Total Cerro Negro, Argentina	100	%	1,000	4.51	140	2,300	5.96	430	3,300	5.52	570	7,600	6.82	1,660	93	%
Pueblo Viejo, Dominican Republic ⁽⁴⁾	40	%	37,300	2.01	2,410	57,100	1.89	3,470	94,400	1.94	5,880	25,400	1.72	1,410	89	%
NuevaUnión, Chile ⁽⁵⁾	50	%	4,800	0.47	70	118,300	0.59	2,260	123,100	0.59	2,330	239,800	0.40	3,050	68	%
Norte Abierto, Chile ⁽⁶⁾	50	%	77,200	0.61	1,510	596,900	0.49	9,320	674,100	0.50	10,830	369,600	0.37	4,360	76	%
Agua Rica, Argentina ⁽⁷⁾	18.75	%	141,900	0.25	1,150	137,400	0.15	650	279,300	0.20	1,800	139,900	0.09	410	35	%
TOTAL SOUTH AMERICA			272,200	0.63	5,500	1,355,100	0.60	25,960	1,627,300	0.60	31,460	1,027,800	0.49	16,060	73	%
Australia
Boddington, Western Australia	100	%	96,200	0.53	1,640	180,500	0.54	3,110	276,700	0.53	4,750	3,300	0.50	50	84	%
Tanami Open Pit	100	%	10,200	1.88	620	16,600	1.69	900	26,800	1.76	1,520	2,900	1.62	150	90	%
Tanami Underground	100	%	1,400	3.11	140	4,900	4.25	660	6,300	4.00	800	9,600	5.39	1,670	97	%
Total Tanami, Northern Territory	100	%	11,600	2.03	760	21,500	2.27	1,560	33,100	2.18	2,320	12,500	4.53	1,820	97	%
TOTAL AUSTRALIA			107,800	0.69	2,400	202,000	0.72	4,670	309,800	0.71	7,070	15,800	3.68	1,870	89	%
Africa
Ahafo South	100	%	500	0.56	10	30,000	1.16	1,120	30,500	1.15	1,130	13,500	1.33	570	93	%
Ahafo Underground	100	%	—		—	16,600	3.99	2,120	16,600	3.99	2,120	10,800	3.34	1,160	90	%
Total Ahafo South, Ghana			500	0.56	10	46,600	2.16	3,240	47,100	2.15	3,250	24,300	2.21	1,730	91	%
Ahafo North Open Pits, Ghana	100	%	2,800	1.21	100	10,400	1.90	630	13,200	1.76	730	9,800	1.60	500	92	%
Akyem Open Pits	100	%	900	0.57	20	1,100	0.67	20	2,000	0.62	40	1,300	1.43	60	91	%
Akyem Underground	100	%	—		—	6,800	3.69	810	6,800	3.69	810	5,400	2.97	520	93	%
Total Akyem, Ghana			900	0.57	20	7,900	3.27	830	8,800	3.00	850	6,700	2.69	580	92	%
TOTAL AFRICA			4,200	1.01	130	64,900	2.26	4,700	69,100	2.18	4,830	40,800	2.15	2,810	91	%
Nevada
NGM Open Pits and Stockpiles	38.5	%	18,300	1.89	1,110	181,100	0.90	5,230	199,400	0.99	6,340	101,100	0.82	2,670	67	%
NGM Underground	38.5	%	8,500	5.89	1,610	11,900	6.35	2,430	20,400	6.16	4,040	15,300	6.48	3,180	86	%
Total NGM ⁽⁸⁾			26,800	3.17	2,720	193,000	1.23	7,660	219,800	1.47	10,380	116,400	1.56	5,850	76	%
TOTAL NEVADA			26,800	3.17	2,720	193,000	1.23	7,660	219,800	1.47	10,380	116,400	1.56	5,850	76	%
TOTAL NEWMONT			628,300	0.67	13,560	2,602,700	0.65	54,710	3,231,000	0.66	68,270	1,495,900	0.69	33,200	76	%

⁽¹⁾		Resources are reported exclusive of reserves.
⁽²⁾		Resources are estimated at a gold price of $1,400 per ounce for 2021 and 2020. Tonnage amounts have been rounded to the nearest 100,000. Ounces may not recalculate as they have been rounded to the nearest 10,000.
⁽³⁾		Project is currently undeveloped. Resource estimates provided by Teck Resources.
⁽⁴⁾		Resource estimates provided by Barrick, the operator of Pueblo Viejo.
⁽⁵⁾		Project is currently undeveloped. Resource estimates provided by the NuevaUnión joint venture.
⁽⁶⁾		Project is currently undeveloped. Resource estimates provided by the Norte Abierto joint venture.
⁽⁷⁾		Project is currently undeveloped. Resource estimates provided by Yamana, the operator of the Agua Rica joint venture.
⁽⁸⁾		Resource estimates provided by Barrick, the operator of the NGM joint venture.
⁽⁹⁾		In February 2022, the Company increased its ownership interest in Yanacocha to 95% by acquiring Buenaventura’s 43.65% noncontrolling interest. See Note 1 of the Consolidated Financial Statements for further information.

Attributable Copper Reserves ⁽¹⁾
December 31, 2021																	December 31, 2020
			Proven Reserves				Probable Reserves				Proven and Probable Reserves						Proven and Probable Reserves
	Newmont		Tonnage ⁽²⁾	Grade		Copper ⁽³⁾	Tonnage ⁽²⁾	Grade		Copper ⁽³⁾	Tonnage ⁽²⁾	Grade		Copper ⁽³⁾	Metallurgical		Tonnage ⁽²⁾	Grade		Copper ⁽³⁾
Deposits/Districts	Share		(000 tonnes)	(Cu %)		Pounds (millions)	(000 tonnes)	(Cu %)		Pounds (millions)	(000 tonnes)	(Cu %)		Pounds (millions)	Recovery		(000 tonnes)	(Cu %)		Pounds (millions)
South America
Yanacocha Open Pits and Underground, Peru ^(4)(10)	51.35	%	—			—	57,700	0.61	%	780	57,700	0.61	%	780	84	%	57,700	0.62	%	790
NuevaUnión, Chile ⁽⁵⁾	50	%	—			—	1,118,000	0.40	%	9,800	1,118,000	0.40	%	9,800	88	%	1,118,000	0.40	%	9,800
Norte Abierto, Chile ⁽⁶⁾	50	%	—			—	598,800	0.22	%	2,890	598,800	0.22	%	2,890	87	%	598,800	0.22	%	2,890
TOTAL SOUTH AMERICA			—			—	1,774,500	0.34	%	13,470	1,774,500	0.34	%	13,470	87	%	1,774,500	0.34	%	13,480
Australia
Boddington Open Pit, Western Australia ⁽⁷⁾	100	%	237,400	0.10	%	540	239,100	0.11	%	590	476,500	0.11	%	1,130	82	%	534,700	0.11	%	1,260
Boddington Stockpiles, Western Australia ⁽⁸⁾	100	%	2,600	0.09	%	10	79,100	0.09	%	150	81,700	0.09	%	160	77	%	86,400	0.09	%	160
TOTAL AUSTRALIA			240,000	0.10	%	550	318,200	0.11	%	740	558,200	0.11	%	1,290	82	%	621,100	0.10	%	1,420
Nevada
NGM, Nevada ⁽⁹⁾	38.5	%	6,900	0.17	%	30	80,200	0.17	%	300	87,100	0.17	%	330	65	%	82,600	0.18	%	320
TOTAL NEVADA			6,900	0.17	%	30	80,200	0.17	%	300	87,100	0.17	%	330	65	%	82,600	0.18	%	320
TOTAL NEWMONT			246,900	0.11	%	580	2,172,900	0.30	%	14,510	2,419,800	0.28	%	15,090	87	%	2,478,200	0.28	%	15,220

⁽¹⁾		See footnote ⁽¹⁾ to the Gold Reserves table above. Copper reserves for 2021 and 2020 were estimated at a copper price of $2.75 per pound.
⁽²⁾		See footnote ⁽²⁾ to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.
⁽³⁾		Pounds are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Pounds may not recalculate as they are rounded to the nearest 10 million.
⁽⁴⁾		Reserve estimates relate to the undeveloped Yanacocha Sulfide project. Copper cut-off grade varies with level of gold and silver credits.
⁽⁵⁾		Project is currently undeveloped. Reserve estimates provided by the NuevaUnión joint venture.
⁽⁶⁾		Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture.
⁽⁷⁾		Copper cut-off grade varies with level of gold credits.
⁽⁸⁾		Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpiles are reported separately where pounds exceed 100 million and are greater than 5% of the total site reported reserves.
⁽⁹⁾		Reserve estimates provided by Barrick, the operator of the NGM joint venture.
⁽¹⁰⁾		In February 2022, the Company increased its ownership interest in Yanacocha to 95% by acquiring Buenaventura’s 43.65% noncontrolling interest. See Note 1 of the Consolidated Financial Statements for further information.

Attributable Copper Mineral Resources ⁽¹⁾⁽²⁾ - December 31, 2021
			Measured Resource				Indicated Resource				Measured and Indicated Resource				Inferred Resource
	Newmont		Tonnage	Grade		Copper	Tonnage	Grade		Copper	Tonnage	Grade		Copper	Tonnage	Grade		Copper
Deposits/Districts	Share		(000 tonnes)	(Cu %)		Pounds (millions)	(000 tonnes)	(Cu %)		Pounds (millions)	(000 tonnes)	(Cu %)		Pounds (millions)	(000 tonnes)	(Cu %)		Pounds (millions)	Metallurgical Recovery
North America
Galore Creek, Canada ⁽³⁾	50	%	128,400	0.72	%	2,030	423,400	0.39	%	3,630	551,800	0.47	%	5,660	99,100	0.27	%	600	91	%
TOTAL NORTH AMERICA			128,400	0.72	%	2,030	423,400	0.39	%	3,630	551,800	0.47	%	5,660	99,100	0.27	%	600	91	%
South America
Conga, Peru	51.35	%	—	—	%	—	356,300	0.26	%	2,040	356,300	0.26	%	2,040	118,400	0.19	%	490	84	%
Yanacocha Open Pits and Stockpiles	51.35	%	—	—	%	—	48,600	0.39	%	420	48,600	0.39	%	420	18,700	0.39	%	160	80	%
Yanacocha Underground	51.35	%	—	—	%	—	1,800	0.09	%	—	1,800	0.09	%	—	1,900	0.13	%	10	96	%
Total Yanacocha, Peru ⁽⁸⁾			—	—	%	—	50,400	0.38	%	420	50,400	0.38	%	420	20,600	0.37	%	170	81	%
NuevaUnión, Chile ⁽⁴⁾	50	%	164,300	0.19	%	700	349,900	0.34	%	2,650	514,200	0.30	%	3,350	602,100	0.39	%	5,150	89	%
Norte Abierto, Chile ⁽⁵⁾	50	%	57,600	0.24	%	310	551,200	0.19	%	2,340	608,800	0.20	%	2,650	361,700	0.18	%	1,450	90	%
Agua Rica, Argentina ⁽⁶⁾	18.75	%	141,900	0.51	%	1,580	137,400	0.36	%	1,100	279,300	0.43	%	2,680	139,900	0.23	%	710	86	%
TOTAL SOUTH AMERICA			363,800	0.32	%	2,590	1,445,200	0.27	%	8,550	1,809,000	0.28	%	11,140	1,242,700	0.29	%	7,970	87	%
Australia
Boddington, Western Australia	100	%	96,200	0.11	%	220	180,500	0.11	%	450	276,700	0.11	%	670	3,300	0.09	%	10	82	%
TOTAL AUSTRALIA			96,200	0.11	%	220	180,500	0.11	%	450	276,700	0.11	%	670	3,300	0.09	%	10	82	%
Nevada
NGM, Nevada ⁽⁷⁾	38.5	%	3,100	0.14	%	10	111,500	0.14	%	340	114,600	0.14	%	350	19,900	0.13	%	60	66	%
TOTAL NEVADA			3,100	0.14	%	10	111,500	0.14	%	340	114,600	0.14	%	350	19,900	0.13	%	60	66	%
TOTAL NEWMONT			591,500	0.37	%	4,850	2,160,600	0.27	%	12,970	2,752,100	0.29	%	17,820	1,365,000	0.29	%	8,640	88	%

⁽¹⁾		Resources are reported exclusive of reserves.
⁽²⁾		Resources for 2021 and 2020 were estimated at a copper price of $3.25 per pound. Tonnage amounts have been rounded to the nearest 100,000.
⁽³⁾		Project is currently undeveloped. Resource estimates provided by Teck Resources.
⁽⁴⁾		Project is currently undeveloped. Resource estimates provided by the NuevaUnión joint venture.
⁽⁵⁾		Project is currently undeveloped. Resource estimates provided by the Norte Abierto joint venture.
⁽⁶⁾		Project is currently undeveloped. Resource estimates provided by Yamana, the operator of the Agua Rica joint venture.
⁽⁷⁾		Resource estimates provided by Barrick, the operator of the NGM joint venture.
⁽⁸⁾		In February 2022, the Company increased its ownership interest in Yanacocha to 95% by acquiring Buenaventura’s 43.65% noncontrolling interest. See Note 1 of the Consolidated Financial Statements for further information.

Attributable Proven, Probable and Combined Silver Reserves ⁽¹⁾
December 31, 2021														December 31, 2020
			Proven Reserves			Probable Reserves			Proven and Probable Reserves					Proven and Probable Reserves
			Tonnage ⁽²⁾	Grade	Silver⁽³⁾	Tonnage ⁽²⁾	Grade	Silver⁽³⁾	Tonnage ⁽²⁾	Grade	Silver⁽³⁾			Tonnage ⁽²⁾	Grade	Silver⁽³⁾
Deposits/Districts	Newmont Share		(000 tonnes)	(g/tonne)	Ounces (000)	(000 tonnes)	(g/tonne)	Ounces (000)	(000 tonnes)	(g/tonne)	Ounces (000)	Metallurgical Recovery ⁽³⁾		(000 tonnes)	(g/tonne)	Ounces (000)
North America
Peñasquito Open Pits, Mexico ⁽⁴⁾	100	%	107,200	38.79	133,650	219,100	32.75	230,760	326,300	34.73	364,410	87	%	348,200	35.10	392,890
Peñasquito Stockpiles, Mexico ⁽⁵⁾	100	%	7,800	31.10	7,810	27,900	24.15	21,670	35,700	25.67	29,480	87	%	39,600	25.81	32,860
TOTAL NORTH AMERICA			115,000	38.26	141,460	247,000	31.78	252,430	362,000	33.84	393,890	87	%	387,800	34.15	425,750
South America
Yanacocha Open Pits and Underground ⁽⁶⁾	51.35	%	1,200	7.57	280	48,900	19.08	30,000	50,100	18.80	30,280	55	%	55,700	17.82	31,910
Yanacocha Stockpiles⁽⁵⁾	51.35	%	1,400	31.48	1,450	—	—	—	1,400	31.48	1,450	75	%	2,700	36.02	3,120
Yanacocha Leach Pads ⁽⁷⁾	51.35	%	—	—	—	47,300	8.16	12,400	47,300	8.16	12,400	5	%	55,400	8.18	14,560
Total Yanacocha, Peru ⁽¹³⁾			2,600	20.81	1,730	96,200	13.85	42,400	98,800	13.85	44,130	42	%	113,800	13.85	49,590
Cerro Negro, Argentina ⁽⁸⁾	100	%	1,700	71.26	4,010	7,200	54.16	12,540	8,900	57.51	16,550	76	%	9,000	70.75	20,420
Pueblo Viejo, Dominican Republic ⁽⁹⁾	40	%	5,000	11.18	1,790	45,600	14.85	21,790	50,600	14.49	23,580	77	%	55,400	15.16	26,990
NuevaUnión, Chile ⁽¹⁰⁾	50	%	—	—	—	1,118,000	1.31	47,170	1,118,000	1.31	47,170	66	%	1,118,000	1.31	47,170
Norte Abierto, Chile ⁽¹¹⁾	50	%	—	—	—	598,800	1.52	29,340	598,800	1.52	29,340	74	%	598,800	1.52	29,340
TOTAL SOUTH AMERICA			9,300	25.14	7,530	1,865,800	2.56	153,240	1,875,100	2.67	160,770	63	%	1,895,000	2.85	173,510
Nevada
NGM, Nevada ⁽¹²⁾	38.5	%	5,200	7.40	1,230	60,000	6.35	12,250	65,200	6.43	13,480	38	%	59,800	6.99	13,430
TOTAL NEVADA			5,200	7.40	1,230	60,000	6.35	12,250	65,200	6.43	13,480	38	%	59,800	6.99	13,430
TOTAL NEWMONT			129,500	36.08	150,220	2,172,800	5.98	417,920	2,302,300	7.68	568,140	74	%	2,342,600	8.14	612,690

⁽¹⁾		See footnote ⁽¹⁾ to the Gold Reserves table above. Silver reserves for 2021 and 2020 were estimated at a silver price of $20 and $17 per ounce, respectively.
⁽²⁾		See footnote ⁽²⁾to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.
⁽³⁾		See footnote ⁽³⁾to the Gold Reserves table above. Ounces may not recalculate as they are rounded to the nearest 10,000.
⁽⁴⁾		Silver cut-off grade varies with gold, lead and zinc credits.
⁽⁵⁾		Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.
⁽⁶⁾		Silver cut-off grade varies with gold and copper credits.
⁽⁷⁾		Leach Pad material is the material on leach pads at the end of the year from which silver remains to be recovered. In-process material reserves are reported separately where tonnage or ounces are greater than 5% of the total site-reported reserves and ounces are greater than 100,000.
⁽⁸⁾		Silver cut-off grade varies with gold credits.
⁽⁹⁾		The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Reserve estimates provided by Barrick, the operator of Pueblo Viejo.
⁽¹⁰⁾		Project is currently undeveloped. Reserve estimates provided by the NuevaUnión joint venture.
⁽¹¹⁾		Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture.
⁽¹²⁾		Reserve estimates provided by Barrick, the operator of the NGM joint venture.
⁽¹³⁾		In February 2022, the Company increased its ownership interest in Yanacocha to 95% by acquiring Buenaventura’s 43.65% noncontrolling interest. See Note 1 of the Consolidated Financial Statements for further information.

Attributable Silver Mineral Resources ⁽¹⁾⁽²⁾ - December 31, 2021
			Measured Resource			Indicated Resource			Measured and Indicated Resource			Inferred Resource
	Newmont		Tonnage	Grade	Silver	Tonnage	Grade	Silver	Tonnage	Grade	Silver	Tonnage	Grade	Silver
Deposits/Districts	Share		(000 tonnes)	(g/tonne)	Ounces (000)	(000 tonnes)	(g/tonne)	Ounces (000)	(000 tonnes)	(g/tonne)	Ounces (000)	(000 tonnes)	(g/tonne)	Ounces (000)	Metallurgical Recovery
North America
Peñasquito, Mexico	100	%	31,400	25.71	25,990	176,600	26.36	149,620	208,000	26.26	175,610	89,800	28.00	80,840	87	%
Noche Buena, Mexico	50	%	—	0.00	—	21,000	13.94	9,400	21,000	13.94	9,400	1,600	11.08	570	25	%
Galore Creek, Canada ⁽³⁾	50	%	128,400	5.79	23,900	423,400	3.75	51,030	551,800	4.22	74,930	99,100	2.65	8,440	64	%
TOTAL NORTH AMERICA			159,800	9.71	49,890	621,000	10.52	210,050	780,800	10.35	259,940	190,500	14.67	89,850	75	%
South America
Conga, Peru	51.35	%	—	0.00	—	356,300	2.06	23,580	356,300	2.06	23,580	89,900	1.13	3,250	70	%
Yanacocha Open Pits and Stockpiles	51.35	%	4,600	3.31	490	44,600	13.09	18,750	49,200	12.17	19,240	14,400	13.09	6,070	43	%
Yanacocha Underground	51.35	%	—	1.13	—	1,800	64.29	3,760	1,800	62.68	3,760	1,900	37.56	2,260	87	%
Total Yanacocha, Peru ⁽⁹⁾			4,600	3.31	490	46,400	15.09	22,510	51,000	14.03	23,000	16,300	15.90	8,330	55	%
Cerro Negro Underground	100	%	100	46.22	140	1,300	57.30	2,360	1,400	56.55	2,500	7,500	39.04	9,400	75	%
Cerro Negro Open Pit	100	%	900	8.53	240	1,000	7.87	250	1,900	8.18	490	100	11.07	20	60	%
Total Cerro Negro, Argentina			1,000	12.15	380	2,300	35.92	2,610	3,300	28.76	2,990	7,600	38.80	9,420	74	%
Pueblo Viejo, Dominican Republic ⁽⁴⁾	40	%	37,300	11.51	13,800	57,100	10.85	19,940	94,400	11.11	33,740	25,400	9.00	7,360
NuevaUnión, Chile ⁽⁵⁾	50	%	164,300	0.96	5,080	349,800	1.19	13,360	514,100	1.12	18,440	602,100	1.16	22,520	66	%
Norte Abierto, Chile ⁽⁶⁾	50	%	77,200	1.20	2,990	596,900	1.07	20,550	674,100	1.09	23,540	369,600	0.95	11,340	78	%
Agua Rica, Argentina ⁽⁷⁾	18.75	%	120,200	2.90	11,190	135,700	2.41	10,520	255,900	2.64	21,710	139,300	1.62	7,260	43	%
TOTAL SOUTH AMERICA			404,600	2.61	33,930	1,544,500	2.28	113,070	1,949,100	2.35	147,000	1,250,200	1.73	69,480	61	%
Nevada
NGM, Nevada ⁽⁸⁾	38.5	%	2,900	5.57	520	84,000	5.54	14,960	86,900	5.54	15,480	18,900	5.60	3,410	38	%
TOTAL NEVADA			2,900	5.57	520	84,000	5.54	14,960	86,900	5.54	15,480	18,900	5.60	3,410	38	%
TOTAL NEWMONT			567,300	4.62	84,340	2,249,500	4.68	338,080	2,816,800	4.66	422,420	1,459,600	3.47	162,740	66	%

⁽¹⁾		Resources are reported exclusive of reserves.
⁽²⁾		Resource for 2021 and 2020 were estimated at a silver price of $23 and $20 per ounce, respectively. Tonnage amounts have been rounded to the nearest 100,000.
⁽³⁾		Project is currently undeveloped. Resource estimates provided by Teck Resources.
⁽⁴⁾		Resource estimates provided by Barrick, the operator of Pueblo Viejo.
⁽⁵⁾		Project is currently undeveloped. Resource estimates provided by the NuevaUnión joint venture.
⁽⁶⁾		Project is currently undeveloped. Resource estimates provided by the Norte Abierto joint venture.
⁽⁷⁾		Project is currently undeveloped. Resource estimates provided by Yamana, the operator of the Agua Rica joint venture.
⁽⁸⁾		Resource estimates provided by Barrick, the operator of the NGM joint venture.
⁽⁹⁾		In February 2022, the Company increased its ownership interest in Yanacocha to 95% by acquiring Buenaventura’s 43.65% noncontrolling interest. See Note 1 of the Consolidated Financial Statements for further information.

Attributable Zinc Reserves ⁽¹⁾
December 31, 2021																	December 31, 2020
			Proven Reserves				Probable Reserves				Proven and Probable Reserves						Proven and Probable Reserves
	Newmont		Tonnage ⁽²⁾	Grade		Zinc ⁽³⁾	Tonnage ⁽²⁾	Grade		Zinc ⁽³⁾	Tonnage ⁽²⁾	Grade		Zinc ⁽³⁾	Metallurgical		Tonnage (2)	Grade		Zinc ⁽³⁾
Deposits/Districts	Share		(000 tonnes)	(Zn %)		Pounds (millions)	(000 tonnes)	(Zn %)		Pounds (millions)	(000 tonnes)	(Zn %)		Pounds (millions)	Recovery		(000 tonnes)	(Zn %)		Pounds (millions)
North America
Peñasquito Open Pits, Mexico ⁽⁴⁾	100	%	107,200	0.96	%	2,260	219,100	0.74	%	3,590	326,300	0.81	%	5,850	81	%	348,200	0.83	%	6,380
Peñasquito Stockpiles, Mexico ⁽⁵⁾	100	%	7,800	0.67	%	120	27,900	0.45	%	280	35,700	0.50	%	400	81	%	39,600	0.49	%	430
TOTAL NEWMONT			115,000	0.94	%	2,380	247,000	0.71	%	3,870	362,000	0.78	%	6,250	81	%	387,800	0.80	%	6,810

⁽¹⁾		See footnote ⁽¹⁾ to the Gold Reserves table above. Zinc reserves for 2021 and 2020 were estimated at a zinc price of $1.15 per pound.
⁽²⁾		See footnote ⁽²⁾to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.
⁽³⁾		See footnote ⁽³⁾to the Copper Reserves table above. Pounds may not recalculate as they are rounded to the nearest 10 million.
⁽⁴⁾		Zinc cut-off grade varies with level of gold, silver and zinc credits.
⁽⁵⁾		Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where tonnes exceed 10,000 and are greater than 5% of the total site-reported reserves.

Attributable Zinc Resources ⁽¹⁾⁽²⁾ - December 31, 2021

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Newmont

Tonnage

Grade

Zinc

Tonnage

Grade

Zinc

Tonnage

Grade

Zinc

Tonnage

Grade

Zinc

Deposits/Districts

(000

tonnes)

(Zn %)

Pounds

(millions)

(000

tonnes)

(Zn %)

Pounds

(millions)

(000

tonnes)

(Zn %)

Pounds

(millions)

(000

tonnes)

(Zn %)

Pounds

(millions)

Metallurgical

Recovery

North America

Peñasquito, Mexico

100

31,400

0.66

460

176,600

0.57

2,230

208,000

0.59

2,690

89,800

0.54

1,070

TOTAL NEWMONT

31,400

0.66

460

176,600

0.57

2,230

208,000

0.59

2,690

89,800

0.54

1,070

⁽¹⁾		Resources are reported exclusive of reserves.
⁽²⁾		Resources for 2021 and 2020 were estimated at a zinc price of $1.40 per pound. Tonnage amounts have been rounded to the nearest 100,000.

Attributable Lead Reserves ⁽¹⁾
December 31, 2021																	December 31, 2020
			Proven Reserves				Probable Reserves				Proven and Probable Reserves						Proven and Probable Reserves
	Newmont		Tonnage ⁽²⁾	Grade		Lead ⁽³⁾	Tonnage ⁽²⁾	Grade		Lead ⁽³⁾	Tonnage ⁽²⁾	Grade		Lead ⁽³⁾	Metallurgical		Tonnage (2)	Grade		Lead (3)
Deposits/Districts	Share		(000 tonnes)	(Pb %)		Pounds (millions)	(000 tonnes)	(Pb %)		Pounds (millions)	(000 tonnes)	(Pb %)		Pounds (millions)	Recovery		(000 tonnes)	(Pb %)		Pounds (millions)
North America
Peñasquito Open Pits, Mexico ⁽⁴⁾	100	%	107,200	0.37	%	880	219,100	0.30	%	1,440	326,300	0.32	%	2,320	73	%	348,200	0.34	%	2,650
Peñasquito Stockpiles, Mexico ⁽⁵⁾	100	%	7,800	0.34	%	60	27,900	0.32	%	200	35,700	0.33	%	260	73	%	39,600	0.33	%	290
TOTAL NEWMONT			115,000	0.37	%	940	247,000	0.30	%	1,640	362,000	0.32	%	2,580	73	%	387,800	0.34	%	2,940

⁽¹⁾	See footnote ⁽¹⁾ to the Gold Reserves table above. Lead reserves for 2021 and 2020 were estimated at a lead price of $0.90 per pound.
⁽²⁾	See footnote ⁽²⁾to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.
⁽³⁾	See footnote ⁽³⁾to the Copper Reserves table above. Pounds may not recalculate as they are rounded to the nearest 10 million.
⁽⁴⁾	Lead cut-off grade varies with level of gold, silver and zinc credits.
⁽⁵⁾	Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills. Stockpiles increase or decrease depending on current mine plans. Stockpile reserves are reported separately where tonnes exceed 10,000 and are greater than 5% of the total site-reported reserves.

Attributable Lead Resources ⁽¹⁾⁽²⁾ - December 31, 2021

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Newmont

Tonnage

Grade

Lead

Tonnage

Grade

Lead

Tonnage

Grade

Lead

Tonnage

Grade

Lead

Deposits/Districts

(000

tonnes)

(Pb %)

Pounds

(millions)

(000

tonnes)

(Pb %)

Pounds

(millions)

(000

tonnes)

(Pb %)

Pounds

(millions)

(000

tonnes)

(Pb %)

Pounds

(millions)

Metallurgical

Recovery

North America

Peñasquito, Mexico

100

31,400

0.29

200

176,600

0.26

1,020

208,000

0.27

1,230

89,800

0.24

480

TOTAL NEWMONT

31,400

0.29

200

176,600

0.26

1,020

208,000

0.27

1,230

89,800

0.24

480

⁽¹⁾	Resources are reported exclusive of reserves.
⁽²⁾	Resources for 2021 and 2020 were estimated at a lead price of $1.10 per pound. Tonnage amounts have been rounded to the nearest 100,000.

Attributable Molybdenum Reserves ⁽¹⁾

December 31, 2021

December 31, 2020

Proven Reserves

Probable Reserves

Proven and Probable Reserves

Newmont

Tonnage ⁽²⁾

Grade

Molybdenum ⁽³⁾

Tonnage ⁽²⁾

Grade

Molybdenum ⁽³⁾

Tonnage ⁽²⁾

Grade

Molybdenum ⁽³⁾

Metallurgical

Tonnage ⁽²⁾

Grade

Molybdenum ⁽³⁾

Deposits/Districts

(000

tonnes)

(Mo %)

Pounds

(millions)

(000

tonnes)

(Mo %)

Pounds

(millions)

(000

tonnes)

(Mo %)

Pounds

(millions)

Recovery

(000

tonnes)

(Mo %)

Pounds

(millions)

South America

NuevaUnión, Chile ⁽⁴⁾

50.00

—

776,900

0.02

270

776,900

0.02

270

776,900

0.02

270

TOTAL NEWMONT

—

776,900

0.02

270

776,900

0.02

270

776,900

0.02

270

⁽¹⁾		See footnote ⁽¹⁾to the Gold Reserves table above. Molybdenum reserves were estimated based on a molybdenum price set by NuevaUnión joint venture.
⁽²⁾		See footnote ⁽²⁾to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.
⁽³⁾		See footnote ⁽³⁾to the Copper Reserves table above. Pounds may not recalculate as they are rounded to the nearest 10 million.
⁽⁴⁾		Project is currently undeveloped. Resource estimates provided by NuevaUnión joint venture.

Attributable Molybdenum Resources ⁽¹⁾⁽²⁾ - December 31, 2021
			Measured Resource				Indicated Resource				Measured and Indicated Resource				Inferred Resource
	Newmont		Tonnage	Grade		Molybdenum	Tonnage	Grade		Molybdenum	Tonnage	Grade		Molybdenum	Tonnage	Grade		Molybdenum
Deposits/Districts	Share		(000 tonnes)	(Mo %)		Pounds (millions)	(000 tonnes)	(Mo %)		Pounds (millions)	(000 tonnes)	(Mo %)		Pounds (millions)	(000 tonnes)	(Mo %)		Pounds (millions)	Metallurgical Recovery
South America
NuevaUnión, Chile ⁽³⁾	50	%	159,500	0.01	%	20	231,500	0.01	%	40	391,000	0.01	%	60	362,300	0.01	%	100	52	%
Agua Rica, Argentina ⁽⁴⁾	18.75	%	141,900	0.03	%	80	137,400	0.03	%	90	279,300	0.03	%	170	139,900	0.03	%	90	44	%
TOTAL NEWMONT			301,400	0.02	%	100	368,900	0.02	%	130	670,300	0.02	%	230	502,200	0.02	%	190	46	%

⁽¹⁾		Resources are reported exclusive of reserves.
⁽²⁾		Resources for NuevaUnión and Agua Rica are estimated based on a molybdenum price set by NuevaUnión joint venture and Yamana, respectively. Tonnage amounts have been rounded to the nearest 100,000.
⁽³⁾		Project is currently undeveloped. Resource estimates provided by NuevaUnión joint venture.
⁽⁴⁾		Resource estimates provided by Yamana, the operator of the Agua Rica joint venture.

Cautionary Statement Regarding Reserve and Resource Estimates:

The reserves stated in this report represent estimates at December 31, 2021, which could be economically and legally extracted or produced at the time of the reserve determination. Estimates of proven and probable reserves are subject to considerable uncertainty. Such estimates are, or will be, to a large extent, based on the prices of gold, silver, copper, zinc and lead and interpretations of geologic data obtained from drill holes and other exploration techniques, which data may not necessarily be indicative of future results. If our reserve estimations are required to be revised due to significantly lower gold, silver, zinc, copper and lead prices, increases in operating costs, reductions in metallurgical recovery or other modifying factors, this could result in material write-downs of our investment in mining properties, goodwill and increased amortization, reclamation and closure charges. Producers use feasibility studies for undeveloped ore bodies to derive estimates of capital and operating costs based upon anticipated tonnage and grades of ore to be mined and processed, the predicted configuration of the ore body, expected recovery rates of metals from the ore, the costs of comparable facilities, the costs of operating and processing equipment and other factors. Actual operating and capital cost and economic returns on projects may differ significantly from original estimates. Further, it may take many years from the initial phases of exploration until commencement of production, during which time, the economic feasibility of production may change. Additionally, resource does not indicate proven and probable reserves as defined by the SEC or the Company’s standards. Estimates of measured, indicated and inferred resource are subject to further exploration and development, and are, therefore, subject to considerable uncertainty. Inferred resources, in particular, have a great amount of uncertainty as to their existence and their economic and legal feasibility. The Company cannot be certain that any part or parts of the resource will ever be converted into reserves. In addition, if the price of gold, silver, copper, zinc or lead declines from recent levels, if production costs increase, grades decline, recovery rates decrease or if applicable laws and regulations are adversely changed, the indicated level of recovery may not be realized or mineral reserves or resources might not be mined or processed profitably. If we determine that certain of our mineral reserves have become uneconomic, this may ultimately lead to a reduction in our aggregate reported reserves and resources. Consequently, if our actual mineral reserves and resources are less than current estimates, our business, prospects, results of operations and financial position may be materially impaired. For additional information see the “Reserve and Resource Tables” section of this release and Item 2 of the Company’s Form 10-K, filed on February 24, 2022, with the SEC.

Cautionary Statement Regarding Forward Looking Statements:

This release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Such forward-looking statements may include, without limitation, estimates and expectations of future production, reserve estimates, exploration outlook and expected expenditure, and operational and financial performance. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties, assumptions and other factors, which could cause actual results to differ materially from future results expressed or implied by the “forward-looking statements”. Such assumptions, include, but are not limited to the key assumptions set forth above. Investors are also encouraged to refer to the Company’s 2021 Form 10-K, filed on February 24, 2022, with the SEC under the headings “Risk Factors” and “Forward-Looking Statements” for additional information, The Company does not undertake any obligation to release publicly revisions to any “forward-looking statement,” including, without limitation, outlook, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued “forward-looking statement” constitutes a reaffirmation of that statement. Continued reliance on “forward-looking statements” is at investors' own risk.

About Newmont

Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.