Newmont chief executive officer Tom Palmer said the company’s 2024 gold reserves have helped solidify Newmont’s position as a leading gold producer.
The major reported gold mineral reserves of 134.1 million attributable ounces at the end of 2024, a slight decrease from the 135.9 million ounces recorded at the tail end of 2023.
Newmont’s go-forward Tier 1 portfolio includes 125.5 million gold ounces, over 13.5 million tonnes of copper reserves and 540 million ounces of silver reserves.
“Newmont has solidified its position as the gold industry’s leader with the highest concentration of Tier 1 assets, reserves and resources,” Palmer said.
“Supported by our industry-leading exploration program, we continue to focus on extending mine life, developing districts and discovering new opportunities in the most favourable mining jurisdictions.”
Newmont has doubled its reserve base since 2018, diversifying itself across the world’s mining jurisdictions, including at Lihir in Papua New Guinea (PNG).
Lihir, along with a handful of other Newmont-owned assets, has a gold reserve life of 10 years or more.
The major has also expanding its copper reach in the past year, with 14.1 million attributable tonnes in measured and indicated resources and 11 million attributional tonnes in inferred resources.
“Newmont’s extensive gold and copper reserve base represents the foundation for stable production and meaningful value creation for the next several decades,” Palmer said.
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