Newmont
A global mining company and one of the world's largest gold producers.
Last updated October 13, 2026
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Overview
Newmont Corporation is a United States-based mining company headquartered in Denver, Colorado, whose principal business is the exploration, development, mining, processing, and reclamation of mineral assets. Gold is its defining commodity, although its portfolio has also included copper, silver, zinc, and lead. The company operates through a geographically diversified group of mines and projects spanning North America, South America, Africa, and Australia. Its assets have included operations in the United States, Canada, Mexico, the Dominican Republic, Ghana, Argentina, Peru, Suriname, and Australia, as well as an ownership interest in Nevada Gold Mines, a joint venture in Nevada operated by Barrick Mining. The business traces its origins to the Newmont Company, founded in New York in 1916 by Colonel William Boyce Thompson as an investment vehicle for mineral, oil, and related enterprises. The name is commonly explained as a combination of New York and Montana, linking Thompson's business base with his upbringing. Newmont made an early strategic investment in gold through a stake in the Anglo American Corporation of South Africa. It was reincorporated in 1921, and in 1929 it became an operating mining company through the acquisition of California's Empire Star Mine. Newmont's modern identity was shaped by the discovery and development of the Carlin gold district in Nevada. The company began mining at Carlin in 1965 and later introduced heap-leaching methods for lower-grade ore. The Carlin Trend became one of North America's most important gold-producing regions and helped establish Newmont as a technically capable, large-scale gold operator. During the middle decades of the twentieth century, the company also held interests in copper, oil, gas, and coal. In the 1980s, after defending itself against a series of takeover attempts, Newmont reduced its exposure to non-core businesses and concentrated increasingly on mining. The company moved its headquarters from New York City to Denver in 1988. It subsequently consolidated Newmont Mining Corporation and Newmont Gold Company, and expanded through a series of acquisitions. The purchase of Battle Mountain Gold was completed in 2001, while the acquisitions of Normandy Mining and Franco-Nevada in 2002 substantially increased Newmont's international gold portfolio and helped make it the world's largest gold producer at that time. Newmont later acquired Miramar Mining and its Hope Bay interests, purchased AngloGold Ashanti's remaining stake in the Boddington mine, and acquired Fronteer Gold in 2011. Newmont's two largest recent transactions were the acquisition of Goldcorp, completed in 2019, and the acquisition of Newcrest Mining, completed in 2023. The Goldcorp transaction expanded Newmont's holdings in the Americas, while Newcrest added major gold and copper assets, including Cadia in Australia, Lihir in Papua New Guinea, and Brucejack and Red Chris in Canada. These transactions reinforced Newmont's positioning as a diversified, large-scale gold producer, but also increased the complexity of integration, capital allocation, operational management, and environmental and community responsibilities. Newmont's operating model combines mine development, large-scale open-pit and underground production, ore processing, exploration, reserve management, and closure planning. Its products are primarily refined or saleable gold, with by-product and co-product production of copper, silver, zinc, and lead depending on the mine. The company also emphasizes safety, environmental stewardship, community relationships, workforce practices, and long-term reclamation. As with other major mining companies, its public profile has been shaped both by production growth and by disputes involving tailings, water, labor, Indigenous and local-community rights, security, workplace safety, and regulatory compliance. Newmont is listed on the New York Stock Exchange under the symbol NEM and has been describe…
History
Newmont began in 1916 as the Newmont Company, a New York investment and holding company established by William Boyce Thompson. Its early activities involved investments in minerals, oil, and related businesses. The company made a significant early gold investment in 1917 through a stake in the Anglo American Corporation of South Africa. It was reincorporated as Newmont Corporation in 1921. In 1929, Newmont moved from investment holding toward direct mining by acquiring California's Empire Star Mine. By the late 1930s it operated a substantial group of North American gold mines. During the following decades, it held interests in international copper operations, including Tsumeb in Namibia and O'Okiep in South Africa, while also developing oil and gas interests in the United States, the Gulf of Mexico, and the North Sea. Fred Searls became president in 1947, followed by Plato Malozemoff in 1954. The development of the Carlin operation in Nevada was a decisive turning point. Newmont began mining there in 1965 and introduced heap leaching for lower-grade ore in 1971. The broader Carlin Trend became one of the major gold discoveries of the twentieth century in North America and helped establish the technical and commercial foundations of Newmont's modern gold business. In the same period, the company was also involved in labor and political controversies connected with operations in Namibia during the apartheid era. During the 1980s, Newmont resisted several takeover attempts. In defending itself against a US$6.3 billion bid led by T. Boone Pickens in 1987, it issued a large special dividend and subsequently pursued divestitures to reduce debt. The restructuring sold or reduced interests in copper, oil, gas, and coal and made gold mining more central to the company. Newmont moved its headquarters from New York to Denver in 1988. It later combined the assets of Newmont Mining Corporation and Newmont Gold Company and reorganized its portfolio around a unified international gold business. Newmont expanded significantly around the turn of the century. Its merger with Battle Mountain Gold was announced in 2000 and completed in January 2001. In 2002, it completed the acquisitions of Normandy Mining and Franco-Nevada after competing with AngloGold for Normandy. The transactions gave Newmont a broad global portfolio and helped make it the world's largest gold producer. In 2007, the company eliminated its legacy gold hedge book, making it one of the largest unhedged gold producers. It acquired Miramar Mining in 2008, bought the remaining one-third of the Boddington mine from AngloGold Ashanti in 2009, and acquired Fronteer Gold in 2011. The company continued to reshape its portfolio through asset sales and acquisitions. It sold or transferred interests in operations including Red Lake, the Super Pit, Batu Hijau, and various historical mines in Australia, Bolivia, Indonesia, New Zealand, and elsewhere. In 2019, Newmont acquired Goldcorp for approximately US$10 billion. The transaction strengthened its position in the Americas and increased its operational scale. In 2023, Newmont agreed to acquire Newcrest Mining in a transaction valued at approximately US$16.8 billion. Completion of the deal added Newcrest's major gold and copper assets and made Newmont one of the world's largest gold-focused mining groups. Newmont's history therefore combines repeated international expansion with periodic portfolio simplification. Its strategic focus has shifted from a diversified natural-resources holding company to a major gold producer with selected copper and other by-product exposure. The company has also faced recurring scrutiny over environmental performance, tailings, water quality, worker safety, security arrangements, local opposition, and the social effects of mine development. These issues remain part of the context in which Newmont manages its current mines, develops projects, and plans mine closure and reclamation.
- 2023
Newcrest acquisition completed
[4]Newmont completed its approximately US$16.8 billion acquisition of Newcrest Mining.
- 2019
Goldcorp acquisition completed
[1]Newmont completed its approximately US$10 billion acquisition of Goldcorp.
- 2007
Legacy hedge book eliminated
[1]Newmont eliminated its legacy gold hedge book and became a major unhedged gold producer.
- 2002
Normandy Mining and Franco-Nevada acquisitions completed
[1]The acquisitions expanded Newmont's international gold holdings and production scale.
- 2001
Battle Mountain Gold merger completed
[1]The company completed its merger with Battle Mountain Gold.
- 1988
Headquarters moved to Denver
[1]Newmont relocated its headquarters from New York City to Denver as part of a broader restructuring.
- 1965
Begins mining at Carlin
[1]Newmont began mining in Nevada's Carlin district, later one of North America's most important gold-producing regions.
- 1929
Enters direct gold mining
[1]Newmont became a direct mining operator through the acquisition of California's Empire Star Mine.
- 1921
Reincorporated as Newmont Corporation
[1]The company was reincorporated under the Newmont Corporation name.
- 1916
Newmont Company founded
[1]William Boyce Thompson founded the Newmont Company in New York as an investment and holding company focused on minerals, oil, and related businesses.
Products and positioning
A globally diversified, large-scale gold producer focused on operating and developing long-life mines while managing environmental, safety, social, and closure obligations.
Precious metals
Gold
Gold is Newmont's principal product and the basis of its identity as a global mining major. The company produces gold from open-pit and underground mines using methods that may include milling, flotation, gravity recovery, leaching, and refining. Production is sold into global precious-metals markets rather than marketed as a consumer-facing branded product.
Base metals
Copper
Copper is produced as a primary or co-product at selected Newmont operations and became more significant after the Newcrest acquisition. Copper output exposes the company to industrial-metals demand in addition to gold prices and supports the value of polymetallic deposits.
Precious metals
Silver
Silver is recovered from selected polymetallic and precious-metals ores. It generally functions as a by-product or co-product of mine processing and complements Newmont's principal gold business.
Base metals
Zinc and lead
Zinc and lead have been included among Newmont's mined commodities at certain operations and within its broader historical portfolio. Their contribution varies according to the active mine portfolio and the grade and mineralogy of individual deposits.
Controversies
2025
Cadia dust-limit violations
New South Wales authorities fined Newmont in relation to airborne dust-limit exceedances at Cadia identified over multiple years and required support for enhanced dust monitoring.
2025
Ahafo South confrontation and fatalities
Three people were reported killed and four injured during a confrontation involving local residents and police contracted by Newmont at the Ahafo South mine in Ghana. Civil-society groups called for an independent investigation into security and human-rights practices.
2025
Red Chris safety and selenium concerns
Operations at Red Chris in British Columbia were suspended after two fall-of-ground incidents involving workers. Environmental groups also raised concerns about selenium in the Stikine River watershed and potential effects on salmon and Indigenous communities.
2010
Ahafo cyanide-spill regulatory fine
Ghana's Environmental Protection Agency fined Newmont approximately US$4.9 million over alleged shortcomings in preventing, reporting, and investigating a cyanide spill at the Ahafo mine.
2009
Public Eye criticism of Ghana project
Newmont received the Public Eye on Davos award in connection with criticism of its Akyem project in Ghana. Newmont rejected the award's characterization of the project and said the supporting material distorted the facts.
2004
Buyat Bay pollution lawsuit
Indonesia's Ministry of Environment brought a civil case alleging that tailings from Newmont's Minahasa Raya mine polluted Buyat Bay. An Indonesian court cleared the company after finding that the pollution allegations had not been proven.
Brand decisions
2023
Acquires Newcrest MiningM&ABackground
Newmont pursued additional long-life gold and copper assets and greater geographic diversification.
Action taken
It completed the acquisition of Newcrest Mining after agreeing terms in May 2023.
Aftermath
Newmont added assets including Cadia, Lihir, Brucejack, and Red Chris and became one of the largest gold and copper producers.
Transaction value. Approximately US$16.8 billion (2023)
2019
Acquires GoldcorpM&ABackground
Newmont sought greater scale and a stronger portfolio in the Americas.
Action taken
It completed the acquisition of Canadian mining company Goldcorp for approximately US$10 billion.
Aftermath
The transaction expanded Newmont's operating footprint and reinforced its position as a leading global gold producer.
Transaction value. Approximately US$10 billion (2019)
2007
Eliminates legacy gold hedge bookStrategyBackground
Newmont had historically used forward sales and other hedging arrangements that limited exposure to movements in gold prices.
Action taken
The company closed its legacy hedge book and accepted greater direct exposure to gold prices.
Aftermath
Newmont became one of the world's largest unhedged gold producers.
1987
Defends against takeover pressure and restructuresStrategyBackground
Newmont faced a US$6.3 billion takeover bid and broader pressure from parties seeking to separate and monetize its assets.
Action taken
The company issued a large special dividend, borrowed to support the defense, and began divesting copper, oil, gas, and coal interests to reduce debt and sharpen its mining focus.
Aftermath
The restructuring accelerated Newmont's transition toward a predominantly gold-mining company and preceded the move of its headquarters to Denver.
Special dividend. US$2.2 billion (1987)
Recent events
Newmont reports third-quarter earnings[5]
Reported:
Newmont announced its quarterly earnings results on Thursday, reporting earnings per share of $2.20, above the $1.94 consensus estimate, and revenue of $6.36 billion, compared with analysts’ expectations of $6.27 billion.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
Newmont announces acquisition of Buenaventura’s Yanacocha stake[6]
Reported:
Newmont announced an agreement to acquire Buenaventura’s interest in Yanacocha for US$300 million plus contingent payments of up to US$100 million. The article describes the acquisition as a future transaction.
Newmont completes acquisition of GT Gold[7]
Reported:
Newmont completed its acquisition of GT Gold after acquiring the remaining 85.1% of the Canadian explorer's common shares it did not already own.
Newmont executes $3 billion sustainability-linked credit facility[8]
Reported:
Newmont announced that it had executed a $3.0 billion sustainability-linked revolving credit facility. The facility includes pricing adjustments based on third-party sustainability performance measures and replaces the facility executed in 2019, extending it to March 2026.
Newmont announces acquisition of GT Gold[9]
Reported:
Newmont and GT Gold announced a binding agreement under which Newmont will acquire the remaining 85.1% of GT Gold shares it does not already own. The transaction was expected to close in the second quarter of 2021, subject to closing conditions.
Newmont commissions Musselwhite conveyor and material-handling systems[10]
Reported:
Newmont announced completion and full commissioning of the conveyor system and material-handling project at its Musselwhite mine in Ontario. The systems move material from deeper mine levels to the surface.
Maverix completes acquisition of Newmont royalty portfolio[11]
Reported:
Maverix completed its acquisition from Newmont of a portfolio of 11 gold royalties.
Newmont agrees to acquire Boleadora exploration properties[12]
Reported:
Newmont entered an agreement to acquire the approximately 55,000-hectare Boleadora exploration land package in Argentina from Magna Terra Minerals for $1 million, with a 2% net smelter return royalty granted to Magna Terra.
Newmont announces pricing of $1 billion notes offering[13]
Reported:
Newmont announced pricing of a public offering of $1 billion in 2.250% senior notes due 2030. The offering was expected to close on March 18, 2020, subject to customary conditions.
Sources14 sources
- 1Newmonten.wikipedia.org
- 2Newmont official websitenewmont.com
- 3Newmont leadershipnewmont.com
- 4Newmont newsroom and releasesnewmont.com
- 5Newmont公布第三季度业绩dailypolitical.com
- 6Newmont 宣布收购 Buenaventura 持有的 Yanacocha 股权globalminingreview.com
- 7Newmont完成对GT Gold的收购au.finance.yahoo.com
- 8纽蒙特签署30亿美元可持续发展挂钩循环信贷额度investingnews.com
- 9Newmont宣布收购GT Goldinvestingnews.com
- 10Newmont 投运 Musselwhite 矿山输送及物料处理系统investingnews.com
- 11Maverix完成收购Newmont特许权使用费资产组合prnewswire.com
- 12Newmont同意收购Boleadora勘探地产mining.com
- 13Newmont宣布10亿美元票据发行定价financialpost.com
- 14Newmont completes acquisition of GT Goldmining.com
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