Newmont remains on track to close its pending $26.2 billion acquisition of Newcrest, which is expected to close on November 6.
Outside of the transaction, operational highlights from the report include the US gold giant producing 1.3 million attributable gold ounces and 58,000 co-product gold equivalent ounces from copper.
Newmont also sold gold for an all-in sustaining cost for $1426 per ounce, and generated $1 billion of cash from its continuing operations. It also has $397 million of free cash flow.
Financial highlights from the report include Newmont recording a net income of $163 million, with an adjusted net income of $0.36 per diluted share and adjusted earnings before interest, taxes, depreciation, and amortisation of $933 million.
The company concluded the September quarter with $3.2 billion of consolidated cash and $6.2 billion of liquidity.
Newmont also welcomed some key leadership changes, through the appointments of Philip Aiken and Sally-Anne Layman as directors. They will join Newmont from Newcrest once the acquisition closes.
“Newmont generated $1 billion of cash from continuing operations during the third quarter and continued to execute on our long-term strategic plan,” Newmont president and chief executive officer Tom Palmer said.
“As we look ahead to the closing of the Newcrest transaction, we are excited about the long-term value it will bring to both sets of stakeholders and our combined workforce. This transaction strengthens our position as the world’s leading gold company and sets the standard in safe, profitable and responsible mining.
“We look forward to closing the transaction on November 6 and providing our first integration update on the combined business in the first quarter of 2024.”
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