"We remain committed to our disciplined and balanced approach to capital allocation, allowing us to maintain an investment-grade balance sheet while steadily reinvesting in the business and providing superior returns to shareholders through our industry-leading dividend framework." As we look ahead to 2023 and beyond, we expect to steadily increase production and improve costs from our balanced, global portfolio of world-class assets and robust project pipeline.
HOURLY NEWS SUMMARY PODCAST PRODUCER LINKEDIN FULL
President and CEO Tom Palmer commented, "Newmont safely delivered on our commitments in 2022 and finished the year from a position of strength, meeting our full year production guidance and generating $4.6 billion in adjusted EBITDA and $1.1 billion in free cash flow. The company also reported increased reserves of 96 million gold ounces and resources of 111 million gold ounces, as well as a significant upside to other metals, including copper, silver, lead and zinc. Newmont announced that its Board of Directors declared a dividend of $0.40 per share of common stock for the fourth quarter of 2022, payable on Mato holders of record at the close of business on March 9, 2023. Primary adjustments to 2022 net income include total impairment charges of $1.3 billion, reclamation and remediation adjustments primarily related to non-operating Yanacocha and Porcupine sites of $713 million and a pension settlement charge of $137 million. Net loss from continuing operations attributable to Newmont stockholders for the year was $(0.5) billion or $(0.58) per diluted share, a decrease of $1.6 billion from the prior year primarily due to the impairment of goodwill at Cerro Negro of $459 million and Porcupine of $341 million, impairment of long-lived assets at CC&V of $511 million, higher CAS predominately resulting from cost inflation impacts and lower sales volumes for all metals except copper.Īdjusted net income for the year was $1.5 billion or $1.85 per diluted share, compared to $2.4 billion or $2.96 per diluted share in the prior year. Newmont generated $4.6 billion in adjusted EBITDA (2021 – adjusted EBITDA of $6 billion) and $1.1 billion in free cash flow (2021 – free cash flow of $2.6 billion).
The company's revenue for the year remained largely flat at $11.9 billion compared to the prior year. Newmont noted higher direct operating costs as a result of inflationary pressures, driven by higher labor costs and higher input commodity prices, notably fuel and energy costs. The company said that gold all-in sustaining costs were $1,211 per ounce in 2022 (2021 - $1,062 per ounce), in-line with updated guidance range despite global cost pressures throughout the year. ( Kitco News) - Newmont (NYSE: NEM, TSX: NGT), the world's top gold miner, announced today that in 2022, the company produced 6.0 million gold ounces (flat y-o-y) and 1.3 million gold equivalent ounces from other metals, achieving original production guidance range set in December 2021.
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