NEWMONT CORP /DE/, 10-K filed on 2/21/2025
Annual Report
v3.25.0.1
Cover - USD ($)
 12 Months Ended
Dec. 31, 2024
Feb. 13, 2025
Jun. 30, 2024
Cover [Abstract]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2024    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-31240    
Entity Registrant Name NEWMONT CORPORATION    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 84-1611629    
Entity Address, Address Line One 6900 E Layton Ave    
Entity Address, City or Town Denver    
Entity Address, State or Province CO    
Entity Address, Postal Zip Code 80237    
City Area Code (303)    
Local Phone Number 863-7414    
Title of 12(b) Security Common stock, par value $1.60 per share    
Trading Symbol NEM    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 48,153,562,623
Entity Common Stock, Shares Outstanding   1,126,861,075  
Documents Incorporated by Reference Portions of Registrant’s definitive Proxy Statement for the Registrant’s 2025 Annual Stockholders Meeting will be filed no later than 120 days after the close of the Registrant's fiscal year ended December 31, 2024, are incorporated by reference into Part III of this report.    
Entity Central Index Key 0001164727    
Amendment Flag false    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
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Audit Information
 12 Months Ended
Dec. 31, 2024
Auditor [Line Items]  
Auditor Firm ID 42
Auditor Name Ernst & Young LLP
Auditor Location Denver, Colorado
PricewaterhouseCoopers LLP  
Auditor [Line Items]  
Auditor Firm ID 271
Auditor Name PricewaterhouseCoopers LLP
Auditor Location Toronto, Canada
v3.25.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Sales (Note 5) $ 18,682 $ 11,812 $ 11,915
Costs and expenses:      
Costs applicable to sales [1] 8,963 6,699 6,468
Depreciation and amortization 2,576 2,108 2,185
Reclamation and remediation (Note 6) 328 1,533 921
Exploration 266 265 231
Advanced projects, research and development 197 200 229
General and administrative 442 299 276
Impairment charges (Note 7) 78 1,891 1,320
Loss on assets held for sale (Note 3) 1,114 0 0
Other expense, net (Note 8) 191 517 82
Total costs and expenses 14,155 13,512 11,712
Other income (expense):      
Other income (loss), net (Note 9) 425 (88) (27)
Interest expense, net of capitalized interest of $114, $89 and $69, respectively (375) (243) (227)
Total other income (expense) 50 (331) (254)
Income (loss) before income and mining tax and other items 4,577 (2,031) (51)
Income and mining tax benefit (expense) (Note 10) (1,397) (526) (455)
Equity income (loss) of affiliates (Note 15) 133 63 107
Net income (loss) from continuing operations 3,313 (2,494) (399)
Net income (loss) from discontinued operations (Note 1) 68 27 30
Net income (loss) 3,381 (2,467) (369)
Net loss (income) attributable to noncontrolling interests (Note 1) (33) (27) (60)
Net income (loss) attributable to Newmont stockholders 3,348 (2,494) (429)
Net income (loss) attributable to Newmont stockholders:      
Continuing operations 3,280 (2,521) (459)
Discontinued operations 68 27 30
Net income (loss) attributable to Newmont stockholders $ 3,348 $ (2,494) $ (429)
Weighted average common shares:      
Basic (in shares) 1,146 841 794
Effect of employee stock-based awards (in shares) 2 0 1
Diluted (in shares) 1,148 841 795
Basic:      
Continuing operations (in dollars per share) $ 2.86 $ (3.00) $ (0.58)
Discontinued operations (in dollars per share) 0.06 0.03 0.04
Net income (loss) per common share, basic (in dollars per share) 2.92 (2.97) (0.54)
Diluted      
Continuing operations (in dollars per share) [2] 2.86 (3.00) (0.58)
Discontinued operations (in dollars per share) [2] 0.06 0.03 0.04
Net income (loss) per common share, diluted (in dollars per share) $ 2.92 $ (2.97) $ (0.54)
[1] Excludes Depreciation and amortization and Reclamation and remediation.
[2] For the years ended December 31, 2023 and 2022, potentially dilutive shares were excluded in the computation of diluted loss per common share attributable to Newmont stockholders as they were antidilutive.
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CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Capitalized interest $ 114 $ 89 $ 69
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Net income (loss) $ 3,381 $ (2,467) $ (369)
Other comprehensive income (loss):      
Change in cash flow hedges, net of tax (123) (1) 19
Change in pension and other post-retirement benefits, net of tax 8 (9) 139
Other adjustments, net of tax 6 (5) 4
Other comprehensive income (loss) (109) (15) 162
Comprehensive income (loss) 3,272 (2,482) (207)
Comprehensive income (loss) attributable to:      
Newmont stockholders  3,239 (2,509) (267)
Noncontrolling interests 33 27 60
Comprehensive income (loss) $ 3,272 $ (2,482) $ (207)
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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
ASSETS    
Cash and cash equivalents $ 3,619 $ 3,002
Trade receivables (Note 5) 1,056 734
Investments (Note 15) 21 23
Inventories (Note 16) 1,423 1,663
Stockpiles and ore on leach pads (Note 17) 761 979
Derivative assets (Note 14) 0 198
Other current assets 786 913
Assets held for sale (Note 3) 4,609 0
Current assets 12,275 7,512
Property, plant and mine development, net (Note 18) 33,547 37,563
Investments ($212 and $— valued under fair value option) (Note 15) 4,471 4,143
Stockpiles and ore on leach pads (Note 17) 2,266 1,935
Deferred income tax assets (Note 10) 124 268
Goodwill (Note 19) 2,658 3,001
Derivative assets (Note 14) 142 444
Other non-current assets 866 640
Total assets 56,349 55,506
LIABILITIES    
Accounts payable 843 960
Employee-related benefits (Note 11) 630 551
Income and mining taxes 381 88
Lease and other financing obligations (Note 21) 107 114
Debt (Note 20) 924 1,923
Other current liabilities (Note 22) 2,481 2,362
Liabilities held for sale (Note 3) 2,177 0
Current liabilities 7,543 5,998
Debt (Note 20) 7,552 6,951
Lease and other financing obligations (Note 21) 389 448
Reclamation and remediation liabilities (Note 6) 6,394 8,167
Deferred income tax liabilities (Note 10) 2,820 2,987
Employee-related benefits (Note 11) 555 655
Silver streaming agreement (Note 5) 699 779
Other non-current liabilities ($51 and $— valued under fair value option) (Note 22) 288 316
Total liabilities 26,240 26,301
Commitments and contingencies (Note 25)
EQUITY    
Common stock - $1.60 par value; 1,813 1,854
Treasury stock - 7 million and 7 million shares, respectively (278) (264)
Additional paid-in capital 29,808 30,419
Accumulated other comprehensive income (loss) (Note 23) (95) 14
(Accumulated deficit) Retained earnings (1,320) (2,996)
Newmont stockholders' equity 29,928 29,027
Noncontrolling interests 181 178
Total equity 30,109 29,205
Total liabilities and equity $ 56,349 $ 55,506
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CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
shares in Millions, $ in Millions
Dec. 31, 2024
Dec. 31, 2023
Statement of Financial Position [Abstract]    
Investments, fair value disclosure $ 212 $ 0
Fair value option, liability, noncurrent $ 51 $ 0
Common stock, par value (in dollars per share) $ 1.60 $ 1.60
Common stock, authorized (in shares) 2,550 2,550
Common stock, outstanding (in shares) 1,127 1,152
Treasury shares (in shares) 7 7
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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities:      
Net income (loss) $ 3,381 $ (2,467) $ (369)
Adjustments:      
Depreciation and amortization 2,576 2,108 2,185
Impairment charges (Note 7) 78 1,891 1,320
Loss on assets held for sale (Note 3) 1,114 0 0
Net loss (income) from discontinued operations (Note 1) (68) (27) (30)
Reclamation and remediation 302 1,506 892
Stock-based compensation (Note 12) 89 80 73
Deferred income taxes (Note 10) 80 (104) (278)
Change in fair value of investments and options (Note 9) (62) 47 46
(Gain) loss on asset and investment sales (Note 9) (35) 197 (35)
Charges from pension settlement (Note 11) 1 9 137
Other non-cash adjustments (113) 27 98
Net change in operating assets and liabilities (Note 24) (1,025) (513) (841)
Net cash provided by (used in) operating activities of continuing operations 6,318 2,754 3,198
Net cash provided by (used in) operating activities of discontinued operations (Note 1) 45 9 22
Net cash provided by (used in) operating activities 6,363 2,763 3,220
Investing activities:      
Additions to property, plant and mine development (3,402) (2,666) (2,131)
Proceeds from sales of mining operations and other assets, net 560 0 16
Contributions to equity method investees (96) (108) (194)
Purchases of investments (66) (551) (940)
Return of investment from equity method investees 56 36 62
Maturities of investments 28 1,363 93
Proceeds from sales of investments 21 234 171
Acquisitions, net [1] 0 668 (15)
Other  44 22 (45)
Net cash provided by (used in) investing activities of continuing operations (2,855) (1,002) (2,983)
Net cash provided by (used in) investing activities of discontinued operations (Note 1) 153 0 0
Net cash provided by (used in) investing activities (2,702) (1,002) (2,983)
Financing activities:      
Repayment of debt (3,860) 0 (89)
Proceeds from issuance of debt, net (Note 20) 3,476 0 0
Repurchases of common stock (Note 2) (1,246) 0 0
Dividends paid to common stockholders (1,145) (1,415) (1,746)
Distributions to noncontrolling interests (161) (150) (191)
Funding from noncontrolling interests 115 138 117
Payments on lease and other financing obligations (Note 21) (87) (67) (66)
Payments for withholding of employee taxes related to stock-based compensation (14) (25) (39)
Acquisition of noncontrolling interests (Note 1) 0 0 (348)
Other (31) (84) 6
Net cash provided by (used in) financing activities (2,953) (1,603) (2,356)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (20) (2) (30)
Net change in cash, cash equivalents and restricted cash, including cash and restricted cash reclassified to assets held for sale 688 156 (2,149)
Less: Cash and restricted cash reclassified to assets held for sale [2] (138) 0 0
Net change in cash, cash equivalents and restricted cash 550 156 (2,149)
Cash, cash equivalents and restricted cash at beginning of period  3,100 2,944 5,093
Cash, cash equivalents and restricted cash at end of period  3,650 3,100 2,944
Reconciliation of cash, cash equivalents and restricted cash:      
Cash and cash equivalents 3,619 3,002 2,877
Restricted cash included in Other current assets 1 11 1
Restricted cash included in Other non-current assets 30 87 66
Total cash, cash equivalents and restricted cash 3,650 3,100 2,944
Supplemental cash flow information:      
Income and mining taxes paid, net of refunds 966 794 1,122
Interest paid, net of amounts capitalized $ 317 $ 228 $ 172
[1] Acquisitions, net is primarily related to the cash acquired in the Newcrest transaction for the year ended December 31, 2023. Refer to Note 1 for additional information.
[2] During the first quarter of 2024, certain non-core assets were determined to meet the criteria for assets held for sale. As a result, at December 31, 2024 the related assets, including $45 of Cash and cash equivalents and $93 of restricted cash, included in Other current assets and Other non-current assets, were reclassified to Assets held for sale. Refer to Note 3 for additional information.
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CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - Discontinued Operations, Held-for-Sale - Portfolio Optimization Program
$ in Millions
Dec. 31, 2024
USD ($)
Cash and cash equivalents $ 45
Restricted cash and restricted cash equivalents $ 93
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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($)
shares in Millions, $ in Millions
Total
Common Stock
Treasury Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings (Accumulated Deficit)
Noncontrolling Interests
Common stock beginning of period (in shares) at Dec. 31, 2021   797.0          
Balance at beginning of period at Dec. 31, 2021 $ 21,813 $ 1,276 $ (200) $ 17,981 $ (133) $ 3,098 $ (209)
Treasury stock beginning of period (in shares) at Dec. 31, 2021     (5.0)        
Changes in Equity              
Net income (loss) (369)         (429) 60
Other comprehensive income (loss) 162       162    
Dividends declared [1] (1,753)         (1,753)  
Distributions declared to noncontrolling interests (191)           (191)
Cash calls requested from noncontrolling interests $ 120           120
Withholding of employee taxes related to stock-based compensation (in shares) (0.6)   (1.0)        
Withholding of employee taxes related to stock-based compensation $ (39)   $ (39)        
Acquisition of non-controlling interests (300)     (699)     399
Stock options exercised 14     14      
Stock-based awards and related share issuances (in shares)   2.0          
Stock-based awards and related share issuances 76 $ 3   73      
Common stock at end of period (in shares) at Dec. 31, 2022   799.0          
Balance at end of period at Dec. 31, 2022 19,533 $ 1,279 $ (239) 17,369 29 916 179
Treasury stock at end of period (in shares) at Dec. 31, 2022     (6.0)        
Contingently redeemable noncontrolling interest, Balance at beginning of period at Dec. 31, 2021 [2] 48            
Increase (Decrease) in Temporary Equity [Roll Forward]              
Net income (loss) [2] 0            
Reclassification of contingently redeemable non-controlling interests [2] (48)            
Contingently redeemable noncontrolling interest, Balance at end of period at Dec. 31, 2022 [2] 0            
Changes in Equity              
Net income (loss) (2,467)         (2,494) 27
Other comprehensive income (loss) (15)       (15)    
Shares issued for Newcrest transaction (in shares)   358.0          
Shares issued for Newcrest transaction 13,549 $ 572   12,977      
Dividends declared [1] (1,418)         (1,418)  
Distributions declared to noncontrolling interests (156)           (156)
Cash calls requested from noncontrolling interests $ 128           128
Withholding of employee taxes related to stock-based compensation (in shares) (0.6)   (1.0)        
Withholding of employee taxes related to stock-based compensation $ (25)   $ (25)        
Stock-based awards and related share issuances (in shares)   2.0          
Stock-based awards and related share issuances $ 76 $ 3   73      
Common stock at end of period (in shares) at Dec. 31, 2023 1,152.0 1,159.0          
Balance at end of period at Dec. 31, 2023 $ 29,205 $ 1,854 $ (264) 30,419 14 (2,996) 178
Treasury stock at end of period (in shares) at Dec. 31, 2023 (7.0)   (7.0)        
Increase (Decrease) in Temporary Equity [Roll Forward]              
Net income (loss) [2] $ 0            
Contingently redeemable noncontrolling interest, Balance at end of period at Dec. 31, 2023 [2] 0            
Changes in Equity              
Net income (loss) 3,381         3,348 33
Other comprehensive income (loss) (109)       (109)    
Dividends declared [1] (1,148)         (1,148)  
Distributions declared to noncontrolling interests (156)           (156)
Cash calls requested from noncontrolling interests $ 126           126
Repurchase and retirement of common stock (in shares) (26.0) (26.0)          
Repurchase and retirement of common stock $ (1,259) $ (42)   (693)   (524)  
Withholding of employee taxes related to stock-based compensation (in shares) (0.4)            
Withholding of employee taxes related to stock-based compensation $ (14)   $ (14)        
Stock-based awards and related share issuances (in shares)   1.0          
Stock-based awards and related share issuances $ 83 $ 1   82      
Common stock at end of period (in shares) at Dec. 31, 2024 1,127.0 1,134.0          
Balance at end of period at Dec. 31, 2024 $ 30,109 $ 1,813 $ (278) $ 29,808 $ (95) $ (1,320) $ 181
Treasury stock at end of period (in shares) at Dec. 31, 2024 (7.0)   (7.0)        
Increase (Decrease) in Temporary Equity [Roll Forward]              
Net income (loss) [2] $ 0            
Contingently redeemable noncontrolling interest, Balance at end of period at Dec. 31, 2024 [2] $ 0            
[1] Cash dividends paid per common share was $1.00, $1.60 and $2.20 for 2024, 2023 and 2022, respectively. Dividends declared and dividends paid to common stockholders differ by $3, $3, and $7 for 2024, 2023 and 2022, respectively, due to timing.
[2] Sumitomo held a 5% interest in Yanacocha at December 31, 2021 and had the option to require Yanacocha to repurchase their interest for $48 if certain conditions were not met. The Company purchased Sumitomo's 5% interest during 2022. Refer to Note 1 for further information.
v3.25.0.1
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash dividends paid per common share (in dollars per share) $ 1.00 $ 1.60 $ 2.20
Dividends declared and dividends paid to common stockholders, difference due to timing $ 3 $ 3 $ 7
Contingently redeemable noncontrolling interest [1] $ 0 $ 0 $ 0
Minera Yanacocha | Summit Global Management II V B      
Noncontrolling interest, ownership percentage by noncontrolling owners (as a percent)     5.00%
[1] Sumitomo held a 5% interest in Yanacocha at December 31, 2021 and had the option to require Yanacocha to repurchase their interest for $48 if certain conditions were not met. The Company purchased Sumitomo's 5% interest during 2022. Refer to Note 1 for further information.
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THE COMPANY
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
THE COMPANY THE COMPANY
Newmont Corporation and its affiliates and subsidiaries (collectively, “Newmont,” “we,” “us” or the “Company”) predominantly operate in the mining industry, focused on the production of and exploration for gold properties, some of which may contain copper, silver, zinc, lead or other metals. The Company has significant operations and/or assets in the United States (“U.S.”), Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana. The cash flow and profitability of the Company’s operations are significantly affected by the market price of gold, copper, silver, lead, and zinc. The prices of gold, copper, silver, lead, and zinc are affected by numerous factors beyond the Company’s control.
Divestiture of Non-core Assets
Based on a comprehensive review of the Company’s portfolio of assets following the Newcrest acquisition, the Company’s Board of Directors approved a portfolio optimization program to divest six non-core assets and a development project in February 2024. The non-core assets to be divested include Akyem, CC&V, Éléonore, Porcupine, Musselwhite, Telfer, and the Coffee development project in Canada. In February 2024, the Company concluded that these non-core assets and the development project, met the accounting requirements to be presented as held for sale in the first quarter of 2024, based on progress made through the Company's active sales program and management’s expectation that the sale is probable and will be completed within 12 months.
The Company entered into definitive agreements in the second half of 2024 to sell the Telfer, Akyem, Musselwhite, Éléonore, and CC&V reportable segments, of which Telfer closed in 2024. Additionally, in January 2025 the Company entered into a definitive agreement to sell the Porcupine reportable segment. Refer to Note 3 for further information on divestitures.
Newcrest Transaction
On November 6, 2023, the Company completed its business combination transaction with Newcrest Mining Limited, a public Australian mining company limited by shares ("Newcrest"), whereby Newmont, through Newmont Overseas Holdings Pty Ltd, an Australian proprietary company limited by shares (“Newmont Sub”), acquired all of the ordinary shares of Newcrest in a fully stock transaction for total non-cash consideration of $13,549. Newcrest became a direct wholly owned subsidiary of Newmont Sub and an indirect wholly owned subsidiary of Newmont (such acquisition, the “Newcrest transaction”). The combined company continues to be traded on the New York Stock Exchange under the ticker NEM. The combined company is also listed on the Toronto Stock Exchange under the ticker NGT, on the Australian Securities Exchange under the ticker NEM, and on the Papua New Guinea Securities Exchange under the ticker NEM. Refer to Note 3 for further information.
Noncontrolling Interests
Merian
Newmont has a 75% economic interest in Suriname Gold project C.V. (“Merian”), with the remaining interests held by Staatsolie Maatschappij Suriname N.V. (“Staatsolie”), a company wholly owned by the Republic of Suriname. Newmont consolidates Merian, through its wholly-owned subsidiary, Newmont Suriname LLC., in its Consolidated Financial Statements as the primary beneficiary of Merian, which is a variable interest entity. For the years ended December 31, 2024, 2023, and 2022, the Company recognized income of $33, $27, and $59, respectively, within Net loss (income) attributable to noncontrolling interests related to Merian.
Yanacocha
At December 31, 2021, Newmont held a 51.35% ownership interest in Minera Yanacocha S.R.L ("Yanacocha") and consolidated Yanacocha in its Consolidated Financial Statements under the voting interest model. In 2022, the Company acquired the 5% ownership interest held in Yanacocha by Sumitomo Corporation (“Sumitomo”) in exchange for cash consideration of $48. Additionally in 2022, the Company acquired the remaining 43.65% interest in Yanacocha held by Compañia de Minas Buenaventura S.A.A. (“Buenaventura”), resulting in the Company holding 100% ownership interest in Yanacocha. The Company acquired Buenaventura’s 43.65% noncontrolling interest in Yanacocha (the “Yanacocha Transaction”) for $300 cash consideration, certain royalties on any production from other future potential projects, and contingent payments of up to $100 tied to higher metal prices, achieving commercial production at the Yanacocha Sulfides project and resolution on the outstanding Yanacocha tax dispute. The Yanacocha Transaction was accounted for as an equity transaction, resulting in a decrease to additional paid-in-capital and no gain or loss recognition.
Concurrent with the Yanacocha Transaction, the Company sold its 46.94% ownership interest in Minera La Zanja S.R.L. ("La Zanja"), accounted for as an equity method investment with a carrying value of $— as of December 31, 2021. Per the terms of the sale, the Company sold its interest in La Zanja to Buenaventura, the parent company of La Zanja, in exchange for royalties on potential future production from the La Zanja operation and contributed cash of $45 to be used exclusively for reclamation costs at the La Zanja operation. Upon close of the sale in 2022, the Company recognized a $45 loss on sale of its equity interest, included in Other income (loss), net.
For the year ended December 31, 2022, the Company recognized $(1) of Net loss (income) attributable to noncontrolling interests related to Yanacocha. No Net loss (income) attributable to noncontrolling interests related to Yanacocha was recognized for the years ended December 31, 2024 and 2023, as the Company held 100% ownership interest in Yanacocha.
Discontinued Operations
Net income (loss) from discontinued operations included results related to the Batu Hijau and Elang contingent consideration assets obtained in connection with the sale of PT Newmont Nusa Tenggara in 2016. In the third quarter of 2024, the Company completed the sale of the Batu and Elang contingent consideration assets for cash consideration of $153, resulting in a gain of $15 included in Net income (loss) from discontinued operations.
For the years ended December 31, 2024, 2023, and 2022, the Company recorded income of $68, $27, and $30, net of a tax benefit (expense) of $31, $(5) and $(4), respectively, within Net income (loss) from discontinued operations. The Company received $45, $9 and $22 for the years ended December 31, 2024, 2023 and 2022, respectively, related to discontinued operations. Refer to contingent consideration assets in Note 14 for additional information.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Risks and Uncertainties
As a global mining company, the Company’s revenue, profitability, and future rate of growth are substantially dependent on prevailing metal prices, primarily for gold, but also for copper, silver, lead, and zinc. Historically, the commodity markets have been very volatile, and there can be no assurance that commodity prices will not be subject to wide fluctuations in the future. A substantial or extended decline in commodity prices could have a material adverse effect on the Company’s financial position, results of operations, cash flows, access to capital and on the quantities of reserves that the Company can economically produce. The carrying value of the Company’s Property, plant and mine development, net; Inventories; Stockpiles and ore on leach pads; Investments; certain Derivative assets; Deferred income tax assets; and Goodwill are particularly sensitive to the outlook for commodity prices. A decline in the Company’s price outlook from current levels could result in material impairment charges related to these assets.
The Company's global operations expose it to risks associated with public health crises, geopolitical and macroeconomic pressures, including but not limited to inflationary conditions, as well as the effects of certain countermeasures taken by central banks, supply chain disruptions resulting from global conflicts and other global events, and an uncertain and evolving labor market.
The following factors could have further potential short- and, possibly, long-term material adverse impacts on the Company including, but not limited to, volatility in commodity prices and the prices for gold and other metals, changes in the equity and debt markets or country specific factors adversely impacting discount rates, significant cost inflation impacts on production, capital and asset retirement costs, logistical challenges, workforce interruptions and financial market disruptions, energy market disruptions, as well as potential impacts to estimated costs and timing of projects. Refer to Note 7 for further information on certain impairment charges incurred as a result of these challenging conditions.
As further response to the current market conditions, high inflation rates, the rising prices for commodities and raw materials, prolonged supply chain disruptions, competitive labor markets, and consideration of capital allocation, the Company has chosen to continue deferring the investment decision for the Yanacocha Sulfides project. While the Company has extended the timeline of the full-funds decision, assessment of the project remains a priority in Peru as the Company continued to advance engineering and long-term procurement activities. The delay of the Yanacocha Sulfides project is intended to focus funds on current operations and other capital commitments while management assesses execution and project options, up to and including transitioning Yanacocha operations into full closure. To the extent that assessment determines that the project is no longer sufficiently profitable or economically feasible under the Company’s internal requirements, it would result in negative modifications to the Company's proven and probable reserves. Additionally, should the Company ultimately decide to forgo the development of Yanacocha Sulfides, the current carrying value of the assets under construction and other long-lived assets of the Yanacocha operations could become impaired and the timing of certain closure activities would be accelerated. As of December 31, 2024, the Yanacocha operations have total long-lived assets of approximately $1,195, inclusive of approximately $827 of assets under construction related to Yanacocha Sulfides.
Furthermore, the Company continues to hold the Conga project in Peru, which the Company does not currently anticipate developing in the next ten years as the Company continues to assess Yanacocha Sulfides; accordingly, the Conga project remains in care and maintenance. Should the Company be unable to develop the Conga project or conclude that future development is not in the best interest of the business, the Company may consider other alternatives for the project, which may result in a future impairment charge for the remaining assets. The total assets at Conga were $892 and $895 at December 31, 2024 and 2023.
The Company's global operations also expose it to foreign currency exchange rates which can increase or decrease profits to the extent costs are paid in foreign currencies, including the Australian dollar, the Mexican peso, the Canadian dollar, the Argentine peso, the Peruvian sol, the Surinamese dollar, the Ghanaian cedi, and the Papua New Guinean kina. Certain mines are located in hyperinflationary economies, which included the Ahafo, Akyem, Cerro Negro, and Merian mines at December 31, 2024. The majority of the activity at these mines has historically been denominated in USD; as a result, the devaluation of the related currency has resulted in
an immaterial impact on the Company's financial statements. Therefore, future devaluation of these currencies is not expected to have a material impact on the Company's financial statements.
The Cerro Negro mine, located in Argentina, is a USD functional currency entity. Argentina’s central bank has enacted a number of foreign currency controls in an effort to stabilize the local currency, including requiring the Company to convert USD proceeds from metal sales to local currency and restricting payments to foreign-related entities denominated in foreign currency, such as dividends or distributions to the parent and related companies. The Company continues to monitor the foreign currency exposure risk and the limitations of repatriating cash to the United States. Currently, these currency controls are not expected to impact the Company's ability to repay its debt obligations or declare dividends.
Use of Estimates
The Company’s Consolidated Financial Statements have been prepared in accordance with GAAP. The preparation of the Company’s Consolidated Financial Statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. The Company must make these estimates and assumptions because certain information used is dependent on future events, cannot be calculated with a high degree of precision from data available or simply cannot be readily calculated based on generally accepted methodologies. Actual results could differ from these estimates.
The more significant areas requiring the use of management estimates and assumptions relate to mineral reserves that are the basis for future cash flow estimates utilized in impairment calculations and units-of-production amortization calculations; environmental remediation, reclamation and closure obligations; estimates of recoverable gold and other minerals in stockpile and leach pad inventories; estimates of fair value for certain reporting units and asset impairments (including impairments of long-lived assets, goodwill and investments); write-downs of inventory, stockpiles and ore on leach pads to net realizable value; post-employment, post-retirement and other employee benefit liabilities; valuation allowances for deferred tax assets; provisional amounts related to income tax effects of newly enacted tax laws; provisional amounts related to uncertain tax positions; valuation of assets acquired and liabilities assumed in a business combination; valuation of assets held for sale; reserves for contingencies and litigation; and the fair value and accounting treatment of financial instruments including marketable and other equity securities and derivative instruments. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results will differ from those amounts estimated in these financial statements.
Principles of Consolidation
The Consolidated Financial Statements include the accounts of Newmont Corporation, more-than-50%-owned subsidiaries that it controls and variable interest entities where it is the primary beneficiary. The proportionate consolidation method is used for investments in which the Company has an undivided interest in the assets, liabilities and operations and for certain unincorporated joint ventures in the extractive industry. All significant intercompany balances and transactions have been eliminated. Equity method accounting is applied for certain entities where the Company does not have control, but does have significant influence over the activities that most significantly impact the entities’ operations and financial performance. The functional currency for the majority of the Company’s operations is the U.S. dollar.
The Company follows the ASC guidance for identification and reporting of entities over which control is achieved through means other than voting rights. The guidance defines such entities as Variable Interest Entities.
Business Combination and Asset Acquisition Accounting
The Company applies a screen test to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets to determine whether a transaction should be accounted for as an asset acquisition or business combination.
When an acquisition does not meet the definition of a business combination because either: (i) substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset, or group of similar identified assets, or (ii) the acquired entity does not have an input and a substantive process that together significantly contribute to the ability to create outputs, the Company accounts for the acquisition as an asset acquisition. In an asset acquisition, goodwill is not recognized, but rather, any excess purchase consideration over the fair value of the net assets acquired is allocated on a relative fair value basis to the identifiable net assets as of the acquisition date and any direct acquisition-related transaction costs are capitalized as part of the purchase consideration.
When an acquisition is accounted for as a business combination, the Company recognizes and measures the assets acquired and liabilities assumed based on their estimated fair values at the acquisition date, while transaction and integration costs related to business combinations are expensed as incurred. Any excess of the purchase consideration in excess of the aggregate fair value of the net tangible and intangible assets acquired, if any, is recorded as goodwill. For material acquisitions, the Company engages independent appraisers to assist with the determination of the fair value of assets acquired, liabilities assumed, noncontrolling interest, if any, and goodwill, based on recognized business valuation methodologies. An income, market or cost valuation method may be
utilized to estimate the fair value of the assets acquired, liabilities assumed, and noncontrolling interest, if any, in a business combination. The income valuation method represents the present value of future cash flows over the life of the asset using discrete financial forecasts, long-term growth rates, appropriate discount rates, and expected future capital requirements. The market valuation method uses prices paid for a similar asset by other purchasers in the market, normalized for any differences between the assets. The cost valuation method is based on the replacement cost of a comparable asset at the time of the acquisition adjusted for depreciation and economic and functional obsolescence of the asset. During the measurement period, not to exceed one year from the date of acquisition, the Company may record adjustments to the assets acquired and liabilities assumed, with a corresponding offset to goodwill if new information is obtained related to facts and circumstances that existed as of the acquisition date. After the measurement period, any subsequent adjustments are reflected in the period the adjustment arises.
Assets Held for Sale
We classify long-lived assets, or disposal groups comprising of assets and liabilities, as held for sale in the period in which the following six criteria are met, (i) management, having the authority to approve the action, commits to a plan to sell the property; (ii) the property is available for immediate sale in its present condition, subject only to terms that are usual and customary; (iii) an active program to locate a buyer and other actions required to complete the plan to sell have been initiated; (iv) the sale of the property is probable and is expected to be completed within one year; (v) the property is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and (vi) actions necessary to complete the plan of sale indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.
The Company ceases depreciation and amortization on long-lived assets (or disposal groups) classified as held for sale, and measures them at the lower of carrying value or estimated fair value less cost to sell.
In determining the fair value of the assets less costs to sell, the Company considers factors including current sales prices for comparable assets, discounted cash flow projections, third party valuations and indicative offer information, if applicable. The Company’s assumptions about fair value require significant judgment because the current market is sensitive to changes in economic conditions, as well as asset-specific considerations. The Company estimates the fair value of assets held for sale based on current market conditions and assumptions made by management, which may differ from actual results and could result in future impairments if market conditions deteriorate.
An impairment loss on the initial classification and subsequent measurement of an asset held for sale is recognized as an expense. Any subsequent increase in fair value less costs to sell (not exceeding the accumulated impairment loss that has been previously recognized) is recognized as a reversal of expense. The Company continues to evaluate the fair value of assets held for sale and monitors market conditions and other economic factors, which could result in additional impairments in the future.
Cash, Cash Equivalents and Restricted Cash
Cash and cash equivalents consist of all cash balances and highly liquid investments with an original maturity of three months or less. Because of the short maturity of these investments, the carrying amounts approximate their fair value. Cash and cash equivalents are held in overnight bank deposits or are invested in United States Treasury securities and money market securities. Restricted cash is excluded from cash and cash equivalents and is included in other current or non-current assets. Restricted cash is held primarily for the purpose of settling asset retirement obligations.
Stockpiles, Ore on Leach Pads and Inventories
As described below, costs that are incurred in or benefit the productive process are accumulated as stockpiles, ore on leach pads and inventories. Stockpiles, ore on leach pads and inventories are carried at the lower of average cost or net realizable value. Net realizable value represents the estimated future sales price of the product based on current and long-term metals prices, less the estimated costs to complete production and bring the product to sale. Write-downs of stockpiles, ore on leach pads and inventories to net realizable value are reported as a component of Costs applicable to sales and Depreciation and amortization. The current portion of stockpiles, ore on leach pads and inventories is determined based on the expected amounts to be processed within the next 12 months and utilize the short-term metal price assumption in estimating net realizable value. Stockpiles, ore on leach pads and inventories not expected to be processed within the next 12 months are classified as non-current and utilize the long-term metal price assumption in estimating net realizable value. The major classifications are as follows:
Stockpiles
Stockpiles represent ore that has been extracted from the mine and is available for further processing. Mine sequencing may result in mining material at a faster rate than can be processed. The Company generally processes the highest ore grade material first to maximize metal production; however, a blend of metal stockpiles may be processed to balance hardness and/or metallurgy in order to maximize throughput and recovery. Processing of lower grade stockpiled ore may continue after mining operations are completed. Sulfide copper ores are subject to oxidation over time which can reduce expected future recoveries. Stockpiles are measured by estimating the number of tons added and removed from the stockpile, the number of contained ounces or pounds (based on assay data) and the estimated metallurgical recovery rates (based on the expected processing method). Stockpile ore tonnages are verified by periodic surveys. Costs are added to stockpiles based on current mining costs incurred including applicable overhead and
depreciation and amortization relating to mining operations and removed at each stockpile’s average cost per recoverable unit as material is processed. Carrying values are evaluated at least quarterly, in accordance with the above.
Ore on Leach Pads
Ore on leach pads represent ore that has been mined and placed on leach pads where a solution is applied to the surface of the heap to dissolve the gold or silver or extract the copper. Costs are added to ore on leach pads based on current mining costs, including applicable depreciation and amortization relating to mining operations. Costs are removed from ore on leach pads as ounces or pounds are recovered based on the average cost per estimated recoverable ounce of gold or silver or pound of copper on the leach pad. Estimates of recoverable ore on the leach pads are calculated from the quantities of ore placed on the leach pads (measured tons added to the leach pads), the grade of ore placed on the leach pads (based on assay data) and a recovery percentage (based on ore type). In general, leach pads recover between 50% and 95% of the recoverable ounces in the first year of leaching, declining each year thereafter until the leaching process is complete.
Although the quantities of recoverable metal placed on the leach pads are reconciled by comparing the grades of ore placed on pads to the quantities of metal actually recovered (metallurgical balancing), the nature of the leaching process inherently limits the ability to precisely monitor inventory levels. As a result, the metallurgical balancing process is constantly monitored and estimates are refined based on actual results over time. Historically, the Company’s operating results have not been materially impacted by variations between the estimated and actual recoverable quantities of metal on its leach pads. Variations between actual and estimated quantities resulting from changes in assumptions and estimates that do not result in write-downs to net realizable value are accounted for on a prospective basis.
In-process Inventory
In-process inventories represent material that is currently in the process of being converted to a saleable product. Conversion processes vary depending on the nature of the ore and the specific processing facility, but include mill in-circuit, flotation, leach and carbon-in-leach. In-process material is measured based on assays of the material fed into the process and the projected recoveries of the respective processing plants. In-process inventories are valued at the lower of the average cost of the material fed into the process attributable to the source material coming from the mines, stockpiles and/or leach pads, plus the in-process conversion costs, including applicable amortization relating to the process facilities incurred to that point in the process or net realizable value.
Precious Metals Inventory
Precious metals inventories include gold doré and/or gold bullion. Precious metals that result from the Company’s mining and processing activities are valued at the lower of the average cost of the respective in-process inventories incurred prior to the refining process, plus applicable refining costs or net realizable value.
Concentrate Inventory
Concentrate inventories represent gold, silver, lead, zinc and copper concentrate available for shipment or in transit for further processing when the sales process has not been completed. The Company values concentrate inventory at average cost, including an allocable portion of support costs and amortization. Costs are added and removed to the concentrate inventory based on metal in the concentrate and are valued at the lower of average cost or net realizable value.
Materials and Supplies
Materials and supplies are valued at the lower of average cost or net realizable value. Cost includes applicable taxes and freight.
Property, Plant and Mine Development
Facilities and Equipment
Expenditures for new facilities or equipment and expenditures that extend the useful lives of existing facilities or equipment are capitalized and recorded at cost. Facilities and equipment acquired as a part of a finance lease, build-to-suit or other financing arrangement are capitalized and recorded based on the contractual lease terms. The facilities and equipment are depreciated using the straight-line method at rates sufficient to depreciate such capitalized costs over the estimated productive lives of such facilities. These estimated productive lives do not exceed the related estimated mine lives, which are based on proven and probable reserves.
Mine Development
Mine development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, the removal of overburden to initially expose an ore body at open pit surface mines and the building of access ways, shafts, lateral access, drifts, ramps and other infrastructure at underground mines. Costs incurred before mineralization is classified as proven and probable reserves are expensed and classified as Exploration or Advanced projects, research and development expense.
Capitalization of mine development project costs that meet the definition of an asset begins once mineralization is classified as proven and probable reserves.
Drilling and related costs are capitalized for an ore body where proven and probable reserves exist and the activities are directed at obtaining additional information on the ore body or converting measured, indicated and inferred resources to proven and probable reserves. All other drilling and related costs are expensed as incurred. Drilling costs incurred during the production phase for operational ore control are allocated to inventory costs and then included as a component of Costs applicable to sales.
The cost of removing overburden and waste materials to access the ore body at an open pit mine prior to the production phase are referred to as “pre-stripping costs.” Pre-stripping costs are capitalized during the development of an open pit mine. Where multiple open pits exist at a mining complex utilizing common processing facilities, pre-stripping costs are capitalized at each pit. The removal, production, and sale of de minimis saleable materials may occur during the development phase of an open pit mine and are assigned incremental mining costs related to the removal of that material.
The production phase of an open pit mine commences when saleable minerals, beyond a de minimis amount, are produced. Stripping costs incurred during the production phase of a mine are variable production costs that are included as a component of inventory to be recognized in Costs applicable to sales in the same period as the revenue from the sale of inventory.
Mine development costs are amortized using the units-of-production method based on estimated recoverable ounces or pounds in proven and probable reserves. To the extent that these costs benefit an entire ore body, they are amortized over the estimated life of the ore body. Costs incurred to access specific ore blocks or areas that only provide benefit over the life of that area are amortized over the estimated life of that specific ore block or area.
Underground development costs incurred before mineralization is classified as proven and probable reserves are expensed and classified as Exploration or Advanced projects, research and development expense. Capitalization of mine development project costs that meet the definition of an asset begins once mineralization is classified as proven and probable reserves.
Mineral Interests
Mineral interests include acquired interests in production, development and exploration stage properties. Mineral interests are capitalized at their fair value at the acquisition date, either as an individual asset purchase or as part of a business combination. Mineral interests in the development and exploration stage are not amortized until the underlying property is converted to the production stage, at which point the mineral interests are amortized over the estimated recoverable proven and probable reserves.
The value of such assets is primarily driven by the nature and amount of mineral interests believed to be contained in such properties. Production stage mineral interests represent interests in operating properties that contain proven and probable reserves and are amortized using the units-of-production method based on the estimated recoverable ounces or pounds in proven and probable reserves. Development stage mineral interests represent interests in properties under development that contain proven and probable reserves. Exploration stage mineral interests represent interests in properties that are believed to potentially contain mineral resources consisting of (i) mineral resources within pits; mineral resources with insufficient drill spacing to qualify as proven and probable reserves; and mineral resources in close proximity to proven and probable reserves; (ii) around-mine exploration potential not immediately adjacent to existing reserves and mineralization, but located within the immediate mine area; (iii) other mine-related exploration potential that is not part of current resources and is comprised mainly of material outside of the immediate mine area; (iv) greenfield exploration potential that is not associated with any other production, development or exploration stage property, as described above; or (v) any acquired right to explore or extract a potential mineral deposit. The Company’s mineral rights generally are enforceable regardless of whether proven and probable reserves have been established. In certain limited situations, the nature of a mineral right changes from an exploration right to a mining right upon the establishment of proven and probable reserves. The Company has the ability and intent to renew mineral interests where the existing term is not sufficient to recover all identified and valued proven and probable reserves and/or undeveloped mineral resources.
Goodwill
Goodwill represents the excess of the purchase price over the estimated fair value of the net assets acquired in a business acquisition. Goodwill is allocated to reporting units and tested for impairment annually as of December 31 and when events or changes in circumstances indicate that the carrying value of a reporting unit exceeds its fair value. Each operating mine is considered a distinct reporting unit for purposes of goodwill impairment testing.
The Company may elect to perform a qualitative assessment when it is more likely than not that the fair value of a reporting unit is higher than its carrying value. If the Company determines that it is more likely than not that the fair value is less than the carrying value, a quantitative goodwill impairment test is performed to determine the fair value of the reporting unit. The fair value of a reporting unit is determined using either the income approach utilizing estimates of discounted future cash flows or the market approach utilizing recent transaction activity for comparable properties. These approaches are considered Level 3 fair value measurements. If the carrying amount of the reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. The Company recognizes its pro rata share of goodwill and any subsequent goodwill impairment losses recorded by entities that are proportionately consolidated.
The estimated cash flows used to assess the fair value of a reporting unit are derived from the Company’s current business plans, which are developed using short-term price forecasts reflective of the current price environment and management’s projections for long-term average metal prices. In addition to short- and long-term metal price assumptions, other assumptions include estimates of commodity-based and other input costs; capital investments; proven and probable mineral reserves estimates, including the timing and cost to develop and produce the reserves; value beyond proven and probable mineral reserve estimates; estimated future closure costs; the use of appropriate discount rates; and applicable U.S. dollar long-term exchange rates.
Impairment of Long-lived Assets
The Company reviews and evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. An impairment loss is measured and recorded based on the estimated fair value of the long-lived assets being tested for impairment, and their carrying amounts. Fair value is typically determined through the use of an income approach utilizing estimates of discounted pre-tax future cash flows or a market approach utilizing recent transaction activity for comparable properties. These approaches are considered Level 3 fair value measurements. Occasionally, such as when an asset is held for sale, market prices are used.
The estimated undiscounted cash flows used to assess recoverability of long-lived assets and to measure the fair value of the Company’s mining operations are derived from current business plans, which are developed using short-term price forecasts reflective of the current price environment and management’s projections for long-term average metal prices. In addition to short- and long-term metal price assumptions, other assumptions include estimates of commodity-based and other input costs; proven and probable mineral reserve estimates, including the timing and cost to develop and produce the reserves; value beyond proven and probable mineral reserve estimates; estimated future closure costs; and the use of appropriate discount rates.
In estimating undiscounted cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of undiscounted cash flows from other asset groups. The Company’s estimates of undiscounted cash flows are based on numerous assumptions and it is possible that actual cash flows may differ significantly from estimates, as actual produced reserves, metal prices, commodity-based and other costs, and closure costs are each subject to significant risks and uncertainties.
Investments
Time Deposits
Time deposits with an original maturity of more than three months but less than one year are included within Investments. These time deposits are carried at amortized cost. Accrued interest is recorded in Other income (loss), net.
Equity Method Investments
Management classifies investments at the acquisition date and re-evaluates the classification at each balance sheet date and when events or changes in circumstances indicate that there is a change in the Company’s ability to exercise significant influence. The ability to exercise significant influence is typically presumed when the Company possesses 20% or more of the voting interests in the investee. The Company accounts for its investments in stock of other entities over which the Company has significant influence, but not control, using the equity method of accounting. Under the equity method of accounting, the Company increases its investment for contributions made and records its proportionate share of net earnings, declared dividends and partnership distributions based on the most recently available financial statements of the investee. To the extent that there is a basis difference between the amount invested and the underlying equity in the net assets of an equity investment, the Company allocates such differences between tangible and intangible assets. This basis difference is being amortized into Equity income (loss) of affiliates over the remaining estimated useful lives of the underlying tangible and intangible net assets. The Company from time to time will elect the fair value option to account for its equity method investments if the fair value option better reflects the economics of its investment. Equity method investments accounted for under the fair value option are remeasured periodically with any changes in fair value recorded in Other income (loss), net. Equity method investments are included in Investments.
Contributions made to equity method investees at times are in the form of loan agreements. Loans provided to equity method investees that are made based on the Company's proportionate ownership percentage are accounted for as “in-substance capital contributions” and are treated as an increase to the investment. Principal and interest payments received on loans treated as in-substance capital contributions are assessed under the cumulative earnings approach to determine if the distribution received represents a return on capital or a return of capital. Return on capital distributions are recorded as an operating cash flow whereas return of capital distributions are recorded as an investing cash flow. Loans provided to equity method investees that are not made on a proportionate basis are accounted for as a loan receivable and do not increase the investment. Principal payments received on loans not treated as an in-substance capital contribution are accounted for as a reduction to the loan receivable and interest received is recorded as interest income.
The Company evaluates its equity method investments for potential impairment whenever events or changes in circumstances indicate that there is an other-than-temporary decline in the value of the investment. Declines in fair value that are deemed to be other-than-temporary are charged to Other income (loss), net.
Marketable Equity, Debt, and Other Equity Securities
The Company has certain marketable equity and debt securities and other equity securities. Marketable equity securities are measured primarily at fair value with any changes in fair value recorded in Other income (loss), net. Certain other equity securities are accounted for under the measurement alternative (cost less impairment, adjusted for any qualifying observable price changes) when fair value is not readily determinable. The Company accounts for its restricted marketable debt securities as available-for-sale securities. Unrealized gains and losses on available-for-sale investments, net of taxes, are reported as a component of Accumulated other comprehensive income (loss) in Total equity, unless an impairment is deemed to be credit-related. Credit-related impairment is recognized as an allowance for credit losses on the balance sheet with a corresponding charge to Other income (loss), net.
Derivative Instruments
The Company holds derivatives for risk management purposes rather than for trading. The Company uses derivatives to mitigate uncertainty and volatility caused by underlying exposures to foreign exchange rates and energy prices. The fair values of all derivative instruments are recognized as assets or liabilities at the balance sheet date and are reported gross.
Financial instruments that meet the definition of a derivative, but are not designated for hedge accounting under ASC 815, are accounted for at fair value using derivative pricing models. Valuation models require a variety of inputs, including long term metal prices, life of mine production profiles, discount rates, and inflation assumptions. These instruments are subsequently remeasured to their fair value at each reporting date with the resulting gain or loss recognized in the Consolidated Statement of Operations.
Cash Flow Hedges
The fair value of derivative contracts qualifying as cash flow hedges are reflected as assets or liabilities in the Consolidated Balance Sheets. The changes in fair value of these hedges are deferred in Accumulated other comprehensive income (loss). Amounts deferred in Accumulated other comprehensive income (loss) are reclassified to income when the hedged transaction has occurred in the same income statement line where the earnings effect of the hedged item is presented. Cash transactions related to the Company’s derivative contracts accounted for as hedges are classified in the same category as the item being hedged in the Consolidated Statements of Cash Flows.
When derivative contracts qualifying as cash flow hedges are settled, accelerated or restructured before the maturity date of the contracts, the related amount in Accumulated other comprehensive income (loss) at the settlement date is deferred and reclassified to earnings, when the originally designated hedged transaction impacts earnings and is presented in the same income statement line item as the earnings effect of the hedged item, unless the underlying hedge transaction becomes probable of not occurring, at which time related amounts in Accumulated other comprehensive income (loss) are reclassified to earnings immediately.
Debt
The Company carries its Senior Notes at amortized cost.
Debt issuance costs and debt premiums and discounts, which are included in Debt, are amortized using the effective interest method over the terms of the respective Senior Notes as a component of Interest expense, net of capitalized interest within the Consolidated Statements of Operations.
Gain or loss on extinguishment of debt is recorded as a component of Other income (loss), net upon the extinguishment of a debt instrument and is calculated as the difference between the reacquisition price and net carrying amount of the debt, which includes unamortized debt issuance costs. The Company evaluates all changes to its debt arrangements to determine whether the changes represent a modification or extinguishment to the old debt arrangement. If a debt instrument is deemed to be modified, the Company capitalizes all new lender fees and expenses all third-party fees. If it is determined that an extinguishment of one of the Company's debt instruments has occurred, the unamortized financing fees associated with the extinguished instrument are expensed. For the revolving loans, all lender and third-party fees are capitalized, and in the event an amendment reduces the committed capacity under the revolving loans, the Company will expense a portion of any unamortized fees on a pro-rata basis in proportion to the decrease in the committed capacity.
Leases
The Company determines if a contractual arrangement represents or contains a lease at inception. Operating leases are included in Other non-current assets and Other current and non-current liabilities in the Consolidated Balance Sheets. Finance leases are included in Property, plant and mine development, net and current and non-current Lease and other financing obligations in the Consolidated Balance Sheets.
Operating and finance lease right-of-use ("ROU") assets and lease liabilities are recognized at the lease commencement date based on the present value of the future lease payments over the lease term. Leases acquired in a business combination are also measured based on the present value of the remaining leases payments, as if the acquired lease were a new lease at the acquisition date. When the rate implicit to the lease cannot be readily determined, the Company utilizes its incremental borrowing rate in
determining the present value of the future lease payments. The incremental borrowing rate is derived from information available at the lease commencement date and represents the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term and amount equal to the lease payments in a similar economic environment. The ROU asset includes any lease payments made and lease incentives received prior to the commencement date. Operating lease ROU assets also include any cumulative prepaid or accrued rent when the lease payments are uneven throughout the lease term. The ROU assets and lease liabilities may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.
The Company has lease arrangements that include both lease and non-lease components. The Company accounts for each separate lease component and its associated non-lease components as a single lease component for the majority of its asset classes. Additionally, for certain lease arrangements that involve leases of similar assets, the Company applies a portfolio approach to effectively account for the underlying ROU assets and lease liabilities.
Common Stock
Newmont filed a shelf registration statement on Form S-3 under which it can issue an indeterminate number or amount of common stock, preferred stock, debt securities, guarantees of debt securities and warrants from time to time at indeterminate prices, subject to the limitations of the Delaware General Corporation Law, the Company's certification of incorporation and bylaws. It also includes the ability to resell an indeterminate amount of common stock, preferred stock and debt securities from time to time upon exercise of warrants or conversion of convertible securities.
Treasury Stock
The Company records repurchases of common shares as Treasury stock at cost and records any subsequent retirements of treasury shares at cost. When treasury shares are retired, the Company’s policy is to allocate the excess of the repurchase price over the par value of shares acquired to both Retained earnings and Additional paid-in capital using settlement-date accounting. The portion allocated to Additional paid-in capital is calculated on a pro rata basis of the shares to be retired and the total shares issued and outstanding as of the date of the retirement.
During the years ended December 31, 2024, the Company repurchased and retired approximately 26 million shares of its common stock for $1,246. No repurchases occurred during the years ended December 31, 2023 and 2022. During the years ended December 31, 2024, 2023 and 2022, the Company withheld 0.4 million, 0.6 million and 0.6 million shares, respectively, for payments of employee withholding taxes related to the vesting of stock awards.
Revenue Recognition
Newmont generates revenue by selling gold, copper, silver, lead, and zinc produced from its mining operations. Refer to Note 4 for further information regarding the Company’s operating segments.
The majority of the Company’s Sales come from the sale of refined gold; however, the end product at the Company’s gold operations is generally doré bars. Doré is an alloy consisting primarily of gold but also containing silver and other metals. Doré is sent to refiners to produce bullion that meets the required market standard of 99.95% gold. Under the terms of the Company’s refining agreements, the doré bars are refined for a fee, and the Company’s share of the refined gold and the separately-recovered silver is credited to its bullion account. Gold from doré bars credited to its bullion account is typically sold to banks or refiners.
A portion of gold sold from certain sites is sold in the form of concentrate. The Company’s Sales also come from the sale of copper, silver, lead, and zinc. Sales from these metals are generally in the form of concentrate, which is sold to smelters for further treatment and refining.
Generally, if a metal expected to be mined represents more than 10% to 20% of the life of mine sales value of all the metal expected to be mined, co-product accounting is applied. When the Company applies co-product accounting at an operation, revenue is recognized for each co-product metal sold, and shared costs applicable to sales are allocated based on the relative sales values of the co-product metals produced. Generally, if metal expected to be mined is less than the 10% to 20% of the life of mine sales value, by-product accounting is applied. Revenues from by-product sales, which are immaterial, are credited to Costs applicable to sales as a by-product credit. Silver, lead and zinc are produced as co-products at Peñasquito. Copper is produced as a co-product at Red Chris, Boddington, Cadia, and Telfer. Aside from the co-product sales at Red Chris, Peñasquito, Boddington, Cadia, and Telfer, copper and silver produced at other Newmont sites are by-product metals.
Gold Sales from Doré Production
The Company recognizes revenue for gold from doré production when it satisfies the performance obligation of transferring gold inventory to the customer, which generally occurs upon transfer of gold bullion credits as this is the point at which the customer obtains control the ability to direct the use and obtains substantially all of the remaining benefits of ownership of the asset.
The Company generally recognizes the sale of gold bullion credits when the credits are delivered to the customer. The transaction price is determined based on the agreed upon market price and the number of ounces delivered. Payment is due upon delivery of gold bullion credits to the customer’s account.
Sales from Concentrate Production
The Company recognizes revenue for gold, copper, silver, lead, and zinc from concentrate production, net of treatment and refining charges, when it satisfies the performance obligation of transferring control of the concentrate to the customer. This generally occurs as material passes over the vessel's rail at the port of loading based on the date from the bill of lading, as the customer has the ability to direct the use of and obtain substantially all of the remaining benefits from the material and the customer has the risk of loss. Newmont has elected to account for shipping and handling costs for concentrate contracts as fulfillment activities and not as promised goods or services; therefore these activities are not considered separate performance obligations.
The Company generally sells metal concentrate based on the monthly average market price for a future month, dependent on the relevant contract, following the month in which the delivery to the customer takes place. The amount of revenue recognized for concentrates is initially recorded on a provisional basis based on the forward prices for the estimated month of settlement and the Company’s estimated metal quantities based on assay data. The Company’s sales based on a provisional price contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of the concentrates at the forward price at the time of sale. The embedded derivative, which is not designated for hedge accounting, is primarily marked to market through Sales each period prior to final settlement. The Company also adjusts estimated metal quantities used in computing provisional sales using new information and assay data from the smelter as it is received (if any).
A provisional payment is generally due upon delivery of the concentrate to the customer. Final payment is due upon final settlement of price and quantity with the customer.
The principal risks associated with recognition of sales on a provisional basis include metal price fluctuations and updated quantities between the date the sale is recorded and the date of final settlement. If a significant decline in metal prices occurs, or assay data results in a significant change in quantity between the provisional pricing date and the final settlement date, it is reasonably possible that the Company could be required to return a portion of the provisional payment received on the sale. Refer to Note 5 for additional information.
Income and Mining Taxes
The Company accounts for income taxes using the liability method, recognizing certain temporary differences between the financial reporting basis of the Company’s liabilities and assets and the related income tax basis for such liabilities and assets. This method generates either a net deferred income tax liability or asset for the Company, as measured by the statutory tax rates in effect. The Company derives its deferred income tax charge or benefit by recording the change in either the net deferred income tax liability or asset balance for the year. The financial statement effects of changes in tax law are recorded as discrete items in the period enacted as part of income tax expense or benefit from continuing operations, regardless of the category of income or loss to which the deferred taxes relate. The Company determines if the assessment of a particular income tax effect is “complete.” Those effects for which the accounting is determined to be complete are reported in the enactment period financial statements. The Company has exposure to the impact of foreign exchange fluctuations on tax positions in certain jurisdictions, such movements are recorded within Income and mining tax benefit (expense) related to deferred income tax assets and liabilities, as well as non-current uncertain tax positions, while foreign exchange fluctuations impacting current tax positions are recorded within Other income (loss), net as foreign currency exchange gains (losses). With respect to the earnings that the Company derives from the operations of its consolidated subsidiaries, in those situations where the earnings are indefinitely reinvested, no deferred taxes have been provided on the unremitted earnings (including the excess of the carrying value of the net equity of such entities for financial reporting purposes over the tax basis of such equity) of these consolidated companies.
Mining taxes represent state and provincial taxes levied on mining operations and are classified as income taxes. As such, taxes are based on a percentage of mining profits.
Newmont’s operations are in multiple jurisdictions where uncertainties arise in the application of complex tax regulations. Some of these tax regimes are defined by contractual agreements with the local government, while others are defined by general tax laws and regulations. Newmont and its subsidiaries are subject to reviews of its income tax filings and other tax payments, and disputes can arise with the taxing authorities over the interpretation of its contracts or laws. The Company recognizes potential liabilities and records tax liabilities for anticipated tax audit issues in the U.S. and other tax jurisdictions based on its estimate of whether it is more likely than not, and the extent to which, additional taxes will be due. The Company adjusts these reserves in light of changing facts and circumstances; however, due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from the Company’s current estimate of the tax liabilities. If the Company’s estimate of tax liabilities proves to be less than the ultimate assessment, an additional charge to expense would result. If the estimate of tax liabilities proves to be greater than the ultimate assessment, a tax benefit would result. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in Income and mining tax benefit (expense). In certain jurisdictions, Newmont must pay a portion of the disputed amount to the local government in order to formally appeal the assessment. Such payment is recorded as a receivable if Newmont believes the amount is collectible.
Valuation of Deferred Tax Assets
The Company’s deferred income tax assets include certain future tax benefits. The Company records a valuation allowance against any portion of those deferred income tax assets when it believes, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred income tax asset will not be realized. The Company reviews the likelihood that it will realize the benefit of its deferred tax assets and therefore the need for valuation allowances on a quarterly basis, or more frequently if events indicate that a review is required. In determining the requirement for a valuation allowance, the historical and projected financial results of the legal entity or consolidated group recording the net deferred tax asset is considered, along with all other available positive and negative evidence.
Certain categories of evidence carry more weight in the analysis than others based upon the extent to which the evidence may be objectively verified. The Company looks to the nature and severity of cumulative pretax losses (if any) in the current three-year period ending on the evaluation date, recent pretax losses and/or expectations of future pretax losses. Other factors considered in the determination of the probability of the realization of the deferred tax assets include, but are not limited to:
•Earnings history;
•Projected future financial and taxable income based upon existing reserves and long-term estimates of commodity prices;
•The duration of statutory carry forward periods;
•Prudent and feasible tax planning strategies readily available that may alter the timing of reversal of the temporary difference;
•Nature of temporary differences and predictability of reversal patterns of existing temporary differences; and
•The sensitivity of future forecasted results to commodity prices and other factors.
Concluding that a valuation allowance is not required is difficult when there is significant negative evidence which is objective and verifiable, such as cumulative losses in recent years. The Company utilizes a rolling twelve quarters of pre-tax income or loss as a measure of its cumulative results in recent years. However, a cumulative three year loss is not solely determinative of the need for a valuation allowance. The Company also considers all other available positive and negative evidence in its analysis.
Reclamation and Remediation Costs
Reclamation obligations associated with operating and non-operating mine sites are recognized when an obligation is incurred and the estimated costs can be reasonably measured. Fair value is measured as the present value of expected cash flow estimates, after considering inflation, the Company's credit-adjusted risk-free rates and a market risk premium appropriate for the Company's operations. The liability is accreted over time through periodic charges to earnings. In addition, the asset retirement cost is capitalized as part of the asset’s carrying value and amortized over the life of the related asset. Reclamation costs are periodically adjusted to reflect changes in the estimated present value resulting from the passage of time and revisions to the estimates of either the timing or amount of the reclamation costs. Changes in reclamation estimates at mines that are not currently operating, as the mine or portion of the mine site has entered the closure phase and has no substantive future economic value, are reflected in earnings in the period an estimate is revised. The estimated reclamation obligation is based on when spending for an existing disturbance is expected to occur. Costs included in estimated asset retirement obligations are discounted to their present value as cash flows are readily estimable over a period of up to fifty years. The Company reviews, on an annual basis, unless otherwise deemed necessary, the reclamation obligation at each mine site in accordance with ASC guidance for asset retirement obligations.
Remediation costs are accrued when it is probable that an obligation has been incurred and the cost can be reasonably estimated. Such cost estimates may include ongoing care, maintenance and monitoring costs. Changes in remediation estimates at operating and non-operating mines are reflected in earnings in the period an estimate is revised. Water treatment costs included in environmental remediation obligations are discounted to their present value as cash flows are readily estimable over a period up to fifty years.
Foreign Currency
The functional currency for the majority of the Company’s operations is the U.S. dollar. Transaction gains and losses related to foreign currency denominated monetary assets and liabilities where the functional currency is the U.S. dollar are remeasured at current exchange rates and the resulting adjustments are included in Other income (loss), net. The financial statements of the Company's foreign entities with functional currencies other than the U.S. dollar are translated into U.S. dollars with the resulting adjustments charged or credited directly to Accumulated other comprehensive income (loss) in Total equity. All assets and liabilities are translated into the U.S. dollar using exchange rates in effect at the balance sheet date, while revenues and expenses are translated at the weighted average exchange rates for the period. The gains or losses on foreign currency rates on cash holdings in foreign currencies are included in Effect of exchange rate changes on cash, cash equivalents and restricted cash in the Company’s Consolidated Statements of Cash Flows.
Stock-Based Compensation
The Company records stock-based compensation awards exchanged for employee services at fair value on the date of the grant and expenses the awards in the Consolidated Statements of Operations over the requisite employee service period. The fair value of RSUs are based on the Newmont stock price on the date of grant. The fair value of PSUs with market-related conditions is determined using a Monte Carlo simulation model. The fair value of PSUs with performance-related conditions is determined based on the Newmont stock price on the date of grant and the probability of the performance conditions being met. Stock-based compensation expense related to all awards, including awards with a market or performance condition that cliff vest, is generally recognized ratably over the requisite service period of the award on a straight-line basis. The Company recognizes forfeitures as they occur. The Company's estimates may be impacted by certain variables including, but not limited to, stock price volatility, employee retirement eligibility dates, the Company's performance and related tax impacts.
Net Income (Loss) per Common Share
Basic and diluted income (loss) per share are presented for Net income (loss) attributable to Newmont stockholders. Basic income (loss) per common share is computed by dividing income (loss) available to Newmont common stockholders by the weighted average number of common shares outstanding during the period. Diluted income (loss) per common share is computed similarly except that weighted average common shares is increased to reflect all dilutive instruments, including employee stock awards. Dilutive securities are excluded from the calculation of diluted weighted average common shares outstanding if their effect would be anti-dilutive based on the treasury stock method or due to a net loss from continuing operations.
Discontinued Operations
The Company reports the results of operations of a business as discontinued operations if a disposal represents a strategic shift that has (or will have) a major effect on the Company’s operations and financial results when the business is classified as held for sale, in accordance with ASC 360, Property, Plant and Equipment and ASC 205-20, Presentation of Financial Statements - Discontinued Operations. Under ASC 360, assets may be classified as held for sale even though discontinued operations classification is not met. Equity method investments, which are specifically scoped out of ASC 360, can only be classified as held for sale if discontinued operations classification is also achieved. The results of discontinued operations are reported in Net income (loss) from discontinued operations, net of tax in the accompanying Consolidated Statements of Operations for current and prior periods, including any gain or loss recognized on closing or adjustment of the carrying amount to fair value less cost to sell.
Comprehensive Income (Loss)
In addition to Net income (loss), Comprehensive income (loss) includes all changes in equity during a period, such as adjustments to minimum pension liabilities, foreign currency translation adjustments, changes in fair value of derivative instruments that qualify as cash flow hedges and cumulative unrecognized changes in fair value of marketable debt securities classified as available-for-sale, except those resulting from investments by and distributions to owners.
Care and Maintenance
The Company incurs certain direct operating costs and depreciation and amortization costs when operations are temporarily halted and placed in care and maintenance. Direct operating costs incurred while operations are temporarily placed in care and maintenance are included in Other expense, net as these costs do not benefit the productive process and are not related to sales. Depreciation and amortization costs incurred while operations are temporarily placed in care and maintenance are included in Depreciation and amortization.
Reclassifications
Certain amounts and disclosures in prior years have been reclassified to conform to the 2024 presentation.
Recently Adopted Accounting Pronouncements and Securities and Exchange Commission Rules
Segments Reporting
In November 2023, ASU 2023-07 was issued which improves disclosures about a public entity’s reportable segments and addresses requests from investors and other allocators of capital for additional, more detailed information about a reportable segment’s expenses. The ASU applies to all public entities that are required to report segment information in accordance with ASC 280. The Company adopted this standard as of January 1, 2024. The adoption did not have a material impact on the consolidated financial statements or disclosures.
Inflation Reduction Act
In August 2022, the U.S. government enacted the Inflation Reduction Act of 2022 (the "IRA") into law. The IRA introduced an excise tax on stock repurchases of 1% of the fair market value of stock repurchases net of stock issued during the tax year and a corporate alternative minimum tax (the "Corporate AMT") of 15% on the adjusted financial statement income ("AFSI") of corporations
with average AFSI exceeding $1 billion over a three-year period. The excise tax on stock repurchases is effective on net stock repurchases made after December 31, 2022 and the Corporate AMT is effective for tax periods beginning in fiscal year 2023. While waiting on pending Department of Treasury regulatory guidance, the Company is continuing to monitor developments. Based upon information known to date, no material impacts are expected to the Consolidated Financial Statements, disclosures, or cash flows.
In 2024, Pillar II is set to take effect. The Pillar II agreement was signed by 138 countries with the intent to equalize corporate tax around the world by implementing a global minimum tax of 15%. As Newmont primarily does business in jurisdictions with a tax rate greater than 15%, the Company does not anticipate a material impact to the Consolidated Financial Statements.
Recently Issued Accounting Pronouncements and Securities and Exchange Commission Rules
Disaggregation of Income Statement Expenses
In November 2024, ASU 2024-03 was issued, requiring additional disclosures in the notes to the financial statements on the nature of certain expense captions presented on the face of the Consolidated Statement of Operations. The new guidance is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. The Company is currently evaluating the impacts of the guidance on its Consolidated Financial Statements.
SEC Climate Rule
In March 2024, the SEC issued a final rule that requires registrants to disclose climate-related information in their annual reports and in registration statements. In April 2024, the SEC chose to stay the newly adopted rulemaking pending judicial review of related consolidated Eighth Circuit petitions. If the stay is lifted, certain disclosures may be required in annual reports for the year ending December 31, 2025, filed in 2026. The Company is currently evaluating the impacts of the rules on its consolidated financial statements.
Improvement to Income Tax Disclosures
In December 2023, ASU 2023-09 was issued, requiring disaggregated information about the effective tax rate reconciliation and additional information on taxes paid that meet a qualitative threshold. The new guidance is effective for annual reporting periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impacts of the guidance on its Consolidated Financial Statements.
v3.25.0.1
ACQUISITIONS AND DIVESTITURES
 12 Months Ended
Dec. 31, 2024
Business Combinations [Abstract]  
ACQUISITIONS AND DIVESTITURES ACQUISITIONS AND DIVESTITURES
Business Acquisition
On November 6, 2023 (the “acquisition date”), Newmont completed its business combination transaction with Newcrest, a public Australian mining company limited by shares, whereby Newmont, through Newmont Sub, acquired all of the ordinary shares of Newcrest, pursuant to a court-approved scheme of arrangement under Part 5.1 of the Australian Corporations Act 2001 (Cth) between Newcrest and its stockholders, as contemplated by a scheme implementation deed, dated as of May 15, 2023, by and among Newmont, Newmont Sub and Newcrest, as amended from time to time. Upon implementation, Newmont completed the business acquisition of Newcrest, in which Newmont was the acquirer and Newcrest became a direct wholly owned subsidiary of Newmont Sub and an indirect wholly owned subsidiary of Newmont (such acquisition, the “Newcrest transaction”). The acquisition of Newcrest increased the Company’s gold and other metal reserves and expanded its operating jurisdictions.
The acquisition date fair value of the consideration transferred consisted of the following:
(in millions, except share and per share data)SharesPer Share
Purchase Consideration
Stock Consideration
Shares of Newmont exchanged for Newcrest outstanding ordinary shares
357,691,627 $37.88 $13,549 
Total Purchase Price
$13,549 
The Company retained an independent appraiser to determine the fair value of assets acquired and liabilities assumed. In accordance with the acquisition method of accounting, the purchase price of Newcrest was allocated to the acquired assets and assumed liabilities based on their estimated acquisition date fair values. The fair value estimates were based on income, market and cost valuation methods. The excess of the total consideration over the estimated fair value of the amounts assigned to the identifiable assets acquired and liabilities assumed was recorded as goodwill, which is not deductible for income tax purposes. The goodwill balance is mainly attributable to: (i) the acquisition of existing operating mines with access to an assembled workforce that cannot be duplicated at the same costs by new entrants; (ii) operating synergies anticipated from the integration of the operations of Newmont and Newcrest; and (iii) the application of Newmont’s Full Potential program and potential strategic and financial benefits that include the increase in reserve base and opportunities to identify additional mineralization through exploration activities.
In 2024, the Company completed the analysis to assign fair values to all assets acquired and liabilities assumed. The following table summarizes the final purchase price allocation for the Newcrest transaction:
ASSETS
Cash and cash equivalents$668 
Trade receivables212 
Inventories723 
Stockpiles and ore on leach pads113 
Derivative assets
42 
Other current assets
193 
Current assets1,951 
Property, plant and mine development, net (1)
13,504 
Investments (2)
990 
Stockpiles and ore on leach pads (3)
219 
Deferred income tax assets (4)
75 
Goodwill (5)
2,401 
Derivative assets
362 
Other non-current assets (6)
398 
Total assets19,900 
LIABILITIES
Accounts payable344 
Employee-related benefits143 
Lease and other financing obligations
16 
Debt1,923 
Other current liabilities
333 
Current liabilities
2,759 
Debt (7)
1,373 
Lease and other financing obligations
35 
Reclamation and remediation liabilities (8)
745 
Deferred income tax liabilities (4)
1,236 
Employee-related benefits192 
Other non-current liabilities
11 
Total liabilities6,351 
Net assets acquired$13,549 
____________________________
(1)The fair value of property, plant and mine development is based on applying income, market, and cost valuation methods. Measurement period adjustments of $321 increased Property, plant and mine development, net, from the preliminary valuation primarily related to the Canadian, Lihir, and Telfer assets.
(2)The fair value of the investments was determined by applying the market approach, based on quoted prices for the acquired investments.
(3)The fair value of stockpiles and ore on leach pads is based on applying the income valuation method. Measurement period adjustments of $85 increased Stockpiles and ore on leach pads from the preliminary valuation primarily relating to the valuation of stockpiles at Lihir.
(4)Deferred income tax assets and liabilities represent the future tax benefit or future tax expense associated with the differences between the fair value allocated to assets (excluding the majority of the goodwill balance) and liabilities and a tax basis increase to the fair value of the assets acquired in Australia and the historical carryover tax basis of assets and liabilities in all other jurisdictions. No deferred tax liability is recognized for the basis difference inherent in the fair value allocated to goodwill. Measurement period adjustments resulted in Deferred income tax assets decreasing by $114 and Deferred income tax liabilities decreasing by $95 from the preliminary valuation.
(5)Goodwill is attributable to the following reportable segments: $669 to Brucejack; $539 to Red Chris; $249 to Cadia; and $944 to Lihir. Measurement period adjustments resulted in an overall reduction to Goodwill of $343 from the preliminary valuation.
(6)Measurement period adjustments of $305 increased Other non-current assets from the preliminary valuation primarily due to the recognition of an intangible asset.
(7)The fair value of the Newcrest senior notes was measured using a market approach, based on quoted prices for the acquired debt.
(8)The fair value of reclamation and remediation liabilities is based on the expected amounts and timing of cash flows for closure activities and discounted to present value using a credit-adjusted risk-free rate as of the acquisition date. Key assumptions include the costs and timing of key closure activities based on the life of mine plans, including estimates and timing of monitoring and water management costs (if applicable) after the completion of initial closure activities. Measurement period adjustments of $352 increased Reclamation and remediation liabilities.
Sales and Net income (loss) attributable to Newmont stockholders in the Consolidated Statement of Operations includes Newcrest revenue of $944 and Newcrest net income of $136 from the acquisition date to December 31, 2023.
Pro Forma Financial Information (unaudited)
The following unaudited pro forma financial information presents consolidated results assuming the Newcrest transaction occurred on January 1, 2022.
Year Ended December 31,
20232022
Sales$15,432 $16,418 
Net income (loss) attributable to Newmont stockholders (1)
$(1,991)$410 
____________________________
(1)Includes $464 of Newcrest transaction and integration costs for the year ended December 31, 2023.
Divestitures
Based on a comprehensive review of the Company’s portfolio of assets, the Company’s Board of Directors approved a portfolio optimization program to divest six non-core assets and a development project in February 2024. The non-core assets to be divested include the CC&V, Musselwhite, Porcupine, Éléonore, Telfer, and Akyem reportable segments, and the Coffee development project which is included within the non-operating segment Corporate and Other. The Telfer disposal group also includes the Havieron development project, which was 70% owned by the Company and accounted for under proportionate consolidation, and other related assets. As of December 31, 2023, the aggregate net book value of the non-core assets and the development project was $3,419.
In February 2024, based on progress made through the Company's active sales program and management’s expectation that the sale is probable and will be completed within 12 months, the Company concluded that these non-core assets and the development project met the accounting requirements to be presented as held for sale. Upon meeting the requirements to be presented as held for sale, the six non-core assets and the development project were recorded at the lower of the carrying value or fair value, less costs to sell, and are periodically valued until sale occurs.
In the September 2024, the Company entered into a definitive agreement to sell the assets of Telfer reportable segment, which closed in the fourth quarter of 2024. Refer below for further information on the sale. Additionally, in the fourth quarter of 2024 the Company entered into definitive agreements to sell the reportable segments of Akyem, Musselwhite, Éléonore, and CC&V, and in January 2025 the Company entered into a definitive agreement to sell the Porcupine reportable segment, all of which are expected to close in the first half of 2025 and remained designated as held for sale at December 31, 2024.
Telfer Sale. The Company completed the sale of the assets of the Telfer reportable segment, including its 70% interest in the Havieron development project and other related assets, to Greatland Gold plc ("Greatland") on December 4, 2024 (the "Telfer Sale"). Under the terms of the sale agreement, the Company received total consideration of $453, which includes (i) cash consideration of $217, net of working capital adjustments, (ii) equity consideration of $242 in the form of 2.7 billion Greatland shares to be accounted for as an equity method investment for which the Company elected the fair value option, (iii) an option of $67 in which a third party has the option to acquire 1.3 billion of the Company's Greatland shares at a set price exercisable for four years, accounted for as a financial liability for which the Company elected the fair value option ("Greatland option"), and (iv) the potential to receive contingent payments of up to $100 tied to future Havieron production and gold price over a five-year period. The contingent payments do not meet the definition of a derivative and are considered to be a financial asset, for which the Company recorded at fair value at completion of the sale, with a fair value of $61. The agreement is inclusive of transitional services support to be provided by the Company for a one year period following close.
As a result of the sale, a loss of $160 is recognized in Loss on assets held for sale for the year ended December 31, 2024. Certain working capital adjustments are to be finalized over a period of up to 180 days from completion of the sale. Any resulting revisions will be settled in cash, with an offsetting impact to recognized in Other income (loss), net. Adjustments are not expected to be material.
Assets and liabilities held for sale. The non-core assets and the development project classified as held for sale are recorded at the lower of the carrying value or fair value, less costs to sell. These assets are periodically valued until sale occurs with any resulting gain or loss recognized in Loss on assets held for sale.
As a result, for the year ended December 31, 2024 a loss of $859 was recognized within Loss on assets held for sale, of which $160 and $699 related to Telfer and the disposal groups remaining as held for sale as of December 31, 2024, respectively. The $699 loss on the disposal groups remaining as held for sale resulted in an aggregate net book value of $2,432 at December 31, 2024. A resulting tax impact of $255 was recognized for the year ended December 31, 2024, resulting in a total loss of $1,114 recognized for the year ended December 31, 2024, within Loss on assets held for sale.
The estimated fair values of net assets held for sale were determined using the market approach for the Akyem, Musselwhite, Éléonore, CC&V, and Porcupine reportable segments utilizing the respective definitive agreements. The estimated fair value of net assets held for sale for the Coffee development project were determined using the income approach which included the following significant inputs: (i) cash flow estimates, (ii) a short-term gold price of $2,700 per ounce, (iii) a long-term gold price of $1,900 per
ounce, (iv) current estimates of resources and exploration potential, and (v) a reporting unit specific discount rate of 9.75%. The estimated fair values are considered a non-recurring Level 2 or 3 fair value measurement and additional losses may be incurred as the Company continues to evaluate the definitive sales agreements, as the active sales program progresses, or as fair value estimates change.
The following table presents the carrying value of the major classes of assets and liabilities held for sale by disposal group as of December 31, 2024, prior to recognition of the write-down of $699 for the year ended December 31, 2024:
CC&V (1)
Musselwhite (1)
Porcupine (1)
Éléonore (1)
Akyem (1)
Coffee Project (2)
Total
Assets held for sale:
Property, plant and mine development, net
$170 $1,063 $1,541 $785 $559 $321 $4,439 
Other assets
408 39 93 70 258 1 869 
Carrying value of assets held for sale
$578 $1,102 $1,634 $855 $817 $322 $5,308 
Liabilities held for sale:
Reclamation and remediation liabilities
$334 $82 $563 $87 $427 $3 $1,496 
Other liabilities
37 257 223 71 91 2 681 
Carrying value of liabilities held for sale
$371 $339 $786 $158 $518 $5 $2,177 
____________________________
(1)In the fourth quarter of 2024, the Company entered into binding agreements to sell the Akyem, Musselwhite, Éléonore, and CC&V reportable segments. Additionally, in January 2025 the Company entered into a definitive agreement to sell the Porcupine reportable segment. The sales are expected to close in the first half of 2025.
(2)The Coffee Project is included in the non-operating segment Corporate and Other in Note 4.
While the Company remains committed to a plan to sell these assets for a fair price, there is a possibility that the assets held for sale may exceed one year due to events or circumstances beyond the Company's control.
v3.25.0.1
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company regularly reviews its segment reporting for alignment with its strategic goals and operational structure as well as for evaluation of business performance and allocation of resources by Newmont’s Chief Operating Decision Maker ("CODM"), which is the Chief Executive Officer. The Company's reportable segments consist of each of its 16 mining operations that it manages and its 38.5% proportionate interest in Nevada Gold Mines ("NGM") which it does not directly manage. The reportable segments at December 31, 2024 include certain reportable segments that are designated as held for sale and exclude those which have been divested. Refer to Note 3 for further information.
In the following tables, Income (loss) before income and mining tax and other items from reportable segments does not reflect general corporate expenses, interest (except project-specific interest), or income and mining taxes. Intercompany revenue and expense amounts have been eliminated within each segment in order to report on the basis that management uses internally for evaluating segment performance. The Company's business activities and operating segments that are not considered reportable, including all equity method investments, are reported in the non-operating segment Corporate and Other, which has been provided for reconciliation purposes.
The CODM uses Income (loss) before mining tax and other items to evaluate income generated from segment assets in deciding whether to reinvest profits into the mine operation or reallocate for other capital priorities under the Company's capital allocation strategy. Additionally, the CODM primarily uses this metric to assess performance of the segment, plan and forecast future business operations, and benchmark to competitors.
The financial information relating to the Company’s segments is as follows:
SalesCosts Applicable to SalesDepreciation and Amortization
Reclamation and Remediation
Advanced Projects, Research and Development and Exploration
Other Segment Expenses (Income) (1)
Income (Loss) before Income and Mining Tax and Other ItemsTotal Assets
Capital Expenditures (2)
Year Ended December 31, 2024
Brucejack
$610 $312 $172 $5 $13 $— $108 $2,660 $70 
Red Chris
Gold96 47 14 
Copper229 172 52 
Total Red Chris325 219 66 7 13 (2)22 2,580 150 
Peñasquito:
Gold713 225 103 
Silver792 360 159 
Lead195 116 52 
Zinc622 427 162 
Total Peñasquito2,322 1,128 476 20 13 43 642 4,879 129 
Merian660 401 84 4 21 (1)151 943 81 
Cerro Negro566 312 123 5 19 13 94 1,787 186 
Yanacocha841 353 98 55 9 2 324 1,932 61 
Boddington:
Gold1,417 613 112 
Copper329 204 39 
Total Boddington1,746 817 151 13 4 (23)784 2,420 129 
Tanami988 390 123 2 28 (19)464 2,236 437 
Cadia:
Gold1,118 297 119 
Copper
743 280 123 
Total Cadia1,861 577 242 5 19 (23)1,041 6,208 537 
Lihir
1,473 787 168 12 16 21 469 5,625 193 
Ahafo1,923 722 215 8 41 (38)975 3,425 382 
NGM2,485 1,263 428 11 23 32 728 7,430 448 
Held for Sale (3)
CC&V347 200 13 11 7 19 97 561 26 
Musselwhite516 224 18 3 6 — 265 1,102 97 
Porcupine673 310 36 27 6 633 (339)1,172 201 
Éléonore583 325 21 4 11 (2)224 855 100 
Akyem
495 338 57 14 5 (5)86 817 24 
Total Reportable Segments
18,414 8,678 2,491 206 254 650 6,135 46,632 3,251 
Corporate and Other— — 68 109 195 967 (1,339)9,717 22 
Divested (4)
Telfer:
Gold242 245 14 
Copper26 40 3 
Total Telfer268 285 17 13 14 158 (219)— 51 
Consolidated$18,682 $8,963 $2,576 $328 $463 $1,775 $4,577 $56,349 $3,324 
____________________________
(1)Other Segment Expenses (Income) for all reportable segments includes Impairment charges, Loss on assets held for sale, Other expense, net, and Other income (loss), net. Refer to Notes 7, 3, 8, and 9, respectively, for further information. Additionally, Other Segment Expenses (Income) includes General and administrative and Interest expense, net of capitalized interest, which are primarily incurred at the non-operating segment Corporate and Other.
(2)Primarily includes a decrease in accrued capital expenditures of $78. Consolidated capital expenditures on a cash basis were $3,402.
(3)Refer to Note 3 for further information on held for sale. The Coffee Project is included in the non-operating segment Corporate and Other.
(4)In the fourth quarter of 2024, the Company completed the sale of the assets of the Telfer reportable segment. Refer to Note 3 for further information.
SalesCosts Applicable to SalesDepreciation and Amortization
Reclamation and Remediation (1)
Advanced Projects, Research and Development and Exploration
Other Segment Expenses (Income) (1)(2)
Income (Loss) before Income and Mining Tax and Other ItemsTotal Assets
Capital Expenditures (3)
Year Ended December 31, 2023
CC&V$332 $198 $23 $12 $13 $4 $82 $383 $64 
Musselwhite351 214 80 3 10 298 (254)1,018 104 
Porcupine503 301 117 18 17 5 45 1,473 166 
Éléonore453 295 101 3 10 247 (203)777 106 
Brucejack (4)
72 69 22 — 7 — (26)4,006 22 
Red Chris (4)
Gold9 4 1 
Copper23 17 3 
Total Red Chris32 21 4 — — (1)8 2,178 25 
Peñasquito: (5)
Gold257 158 67 
Silver335 300 134 
Lead96 98 45 
Zinc213 253 105 
Total Peñasquito901 809 351 18 11 1,523 (1,811)4,738 113 
Merian625 385 82 3 23 10 122 927 84 
Cerro Negro510 328 137 4 10 16 15 1,646 162 
Yanacocha537 294 85 1,232 11 (15)(1,070)2,117 312 
Boddington:
Gold1,451 634 108 
Copper363 204 35 
Total Boddington1,814 838 143 12 6 4 811 2,376 164 
Tanami867 337 110 2 30 (19)407 1,896 413 
Cadia (4)
Gold250 129 16 
Copper
172 116 14 
Total Cadia422 245 30 — 2 (13)158 6,351 75 
Telfer (4)
Gold135 126 6 
Copper17 22 1 
Total Telfer152 148 7 1 4 2 (10)574 9 
Lihir (4)
266 146 20 — 2 5 93 3,909 53 
Ahafo1,130 547 181 7 40 (14)369 2,823 310 
Akyem574 275 122 12 19 (5)151 1,069 40 
NGM2,271 1,249 452 11 29 98 432 7,401 472 
Total Reportable Segments
11,812 6,699 2,067 1,338 244 2,145 (681)45,662 2,694 
Corporate and Other— — 41 195 221 893 (1,350)9,844 51 
Consolidated$11,812 $6,699 $2,108 $1,533 $465 $3,038 $(2,031)$55,506 $2,745 
____________________________
(1)Segment presentation for the prior period has been recast due to the adoption of ASU 2023-07.
(2)Other Segment Expenses (Income) for all reportable segments includes Impairment charges, Other expense, net, and Other income (loss), net. Refer to Notes 7, 8, and 9, respectively, for further information. Additionally, Other Segment Expenses (Income) includes General and administrative and Interest expense, net of capitalized interest which are primarily incurred at the non-operating segment Corporate and Other.
(3)Primarily includes an increase in accrued capital expenditures of $79. Consolidated capital expenditures on a cash basis were $2,666.
(4)Sites acquired through the Newcrest transaction. Refer to Note 3 for further information.
(5)In June 2023, the National Union of Mine and Metal Workers of the Mexican Republic (the "Union") notified the Company of a strike action. In response to the strike notice, the Company suspended operations at Peñasquito. The Company reached an agreement with the Union and operations at Peñasquito resumed in the fourth quarter of 2023.
SalesCosts Applicable to SalesDepreciation and Amortization
Reclamation and Remediation (1)
Advanced Projects, Research and Development and Exploration
Other Segment Expenses (Income) (1)(2)
Income (Loss) before Income and Mining Tax and Other ItemsTotal Assets
Capital Expenditures (3)
Year Ended December 31, 2022
CC&V$333 $241 $71 $17 $11 $520 $(527)$286 $44 
Musselwhite305 195 79 2 8 (2)23 1,294 54 
Porcupine504 281 104 98 14 336 (329)1,401 152 
Éléonore391 266 115 2 5 (1)4 1,010 60 
Peñasquito: (4)
Gold1,006 442 148 
Silver549 454 151 
Lead133 94 32 
Zinc501 316 96 
Total Peñasquito2,189 1,306 427 13 19 21 403 6,430 183 
Merian723 369 80 2 21 2 249 923 56 
Cerro Negro508 283 148 3 25 500 (451)1,659 132 
Yanacocha451 313 95 639 22 (6)(612)2,225 439 
Boddington:
Gold1,447 652 118 
Copper316 181 34 
Total Boddington1,763 833 152 10 7 (18)779 2,264 72 
Tanami878 328 101 1 28 (2)422 1,585 343 
Ahafo1,023 566 167 4 26 (7)267 2,619 268 
Akyem749 334 141 6 14 (3)257 998 34 
NGM2,098 1,153 471 5 32 3 434 7,419 308 
Total Reportable Segments
11,915 6,468 2,151 802 232 1,343 919 30,113 2,145 
Corporate and Other— — 34 119 228 589 (970)8,369 45 
Consolidated$11,915 $6,468 $2,185 $921 $460 $1,932 $(51)$38,482 $2,190 
____________________________
(1)Segment presentation for the prior period has been recast due to the adoption of ASU 2023-07.
(2)Other Segment Expenses (Income) for all reportable segments includes Impairment charges, Other expense, net, and Other income (loss), net. Refer to Notes 7, 8, and 9, respectively, for more information. Additionally, Other Segment Expenses (Income) includes General and administrative and Interest expense, net of capitalized interest which are primarily incurred at the non-operating segment Corporate and Other.
(3)Includes an increase in accrued capital expenditures of $59. Consolidated capital expenditures on a cash basis were $2,131.
(4)Costs applicable to sales includes amounts resulting from the profit-sharing agreement completed with the Peñasquito workforce during the second quarter of 2022. Under the agreement, the Company will pay its workforce an uncapped profit-sharing bonus each year, based on the agreed upon terms. Additionally, the terms of the agreement are retroactively applied to profit-sharing related to 2021 site performance, resulting in $70 recorded within Costs applicable to sales in the second quarter of 2022. The amounts related to the 2021 profit-sharing were paid in the third quarter of 2022.
Long-lived assets, which consist of Property, plant and mine development, net, non-current Stockpiles and ore on leach pads, and non-current right-of-use assets, included in Other non-current assets, were as follows:
At December 31,
20242023
Australia$9,490 $9,373 
Canada (1)
8,358 8,789 
United States (1)
7,125 7,011 
Papua New Guinea4,514 3,140 
Mexico3,822 4,119 
Ghana (1)
2,755 2,626 
Peru2,203 2,254 
Argentina1,582 1,508 
Suriname726 726 
Other27 32 
$40,602 $39,578 
____________________________
(1)Canada, United States, and Ghana include $3,723, $434, and $565, respectively, of long-lived assets included in Assets held for sale. Refer to Note 3 for additional information.
v3.25.0.1
SALES
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
SALES SALES
The following tables present the Company’s Sales by mining operation, product and inventory type:
Gold Sales from Doré ProductionSales from Concentrate and Other ProductionTotal Sales
Year Ended December 31, 2024
Brucejack
$415 $195 $610 
Red Chris:
Gold— 96 96 
Copper— 229 229 
Total Red Chris— 325 325 
Peñasquito:
Gold— 713 713 
Silver (1)
— 792 792 
Lead— 195 195 
Zinc— 622 622 
Total Peñasquito— 2,322 2,322 
Merian638 22 660 
Cerro Negro 566 — 566 
Yanacocha833 8 841 
Boddington:
Gold353 1,064 1,417 
Copper— 329 329 
Total Boddington353 1,393 1,746 
Tanami988 — 988 
Cadia:
Gold126 992 1,118 
Copper
— 743 743 
Total Cadia126 1,735 1,861 
Lihir
1,473 — 1,473 
Ahafo1,923 — 1,923 
NGM (2)
2,336 149 2,485 
Held for sale (3)
CC&V347 — 347 
Musselwhite 516 — 516 
Porcupine 673 — 673 
Éléonore 583 — 583 
Akyem495 — 495 
Divested (4)
Telfer:
Gold47 195 242 
Copper— 26 26 
Total Telfer47 221 268 
Consolidated$12,312 $6,370 $18,682 
____________________________
(1)Silver sales from concentrate includes $91 related to non-cash amortization of the silver streaming agreement liability.
(2)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $2,338.
(3)Refer to Note 3 for further information on held for sale.
(4)In the fourth quarter of 2024, the Company completed the sale of the assets of the Telfer reportable segment. Refer to Note 3 for further information.
Gold Sales from Doré ProductionSales from Concentrate and Other ProductionTotal Sales
Year Ended December 31, 2023
CC&V $332 $— $332 
Musselwhite351 — 351 
Porcupine503 — 503 
Éléonore453 — 453 
Brucejack (1)
48 24 72 
Red Chris: (1)
Gold— 9 9 
Copper— 23 23 
Total Red Chris— 32 32 
Peñasquito:
Gold36 221 257 
Silver (2)
— 335 335 
Lead— 96 96 
Zinc— 213 213 
Total Peñasquito36 865 901 
Merian600 25 625 
Cerro Negro510 — 510 
Yanacocha526 11 537 
Boddington:
Gold359 1,092 1,451 
Copper— 363 363 
Total Boddington359 1,455 1,814 
Tanami867 — 867 
Cadia: (1)
Gold28 222 250 
Copper— 172 172 
Total Cadia
28 394 422 
Telfer: (1)
Gold20 115 135 
Copper— 17 17 
Total Telfer
20 132 152 
Lihir (1)
266 — 266 
Ahafo1,130 — 1,130 
Akyem574 — 574 
NGM (2)
2,178 93 2,271 
Consolidated$8,781 $3,031 $11,812 
____________________________
(1)Sites acquired through the Newcrest transaction. Refer to Note 3 for further information.
(2)Silver sales from concentrate includes $42 related to non-cash amortization of the silver streaming agreement liability.
(3)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $2,174.
Gold Sales from Doré ProductionSales from Concentrate and Other ProductionTotal Sales
Year Ended December 31, 2022
CC&V$328 $5 $333 
Musselwhite305 — 305 
Porcupine 504 — 504 
Éléonore391 — 391 
Peñasquito:
Gold110 896 1,006 
Silver (1)
— 549 549 
Lead— 133 133 
Zinc— 501 501 
Total Peñasquito110 2,079 2,189 
Merian723 — 723 
Cerro Negro508 — 508 
Yanacocha446 5 451 
Boddington:
Gold366 1,081 1,447 
Copper— 316 316 
Total Boddington366 1,397 1,763 
Tanami878 — 878 
Ahafo1,023 — 1,023 
Akyem749 — 749 
NGM (2)
2,026 72 2,098 
Consolidated$8,357 $3,558 $11,915 
____________________________
(1)Silver sales from concentrate includes $73 related to non-cash amortization of the silver streaming agreement liability.
(2)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $2,022.
Trade Receivables and Provisional Sales
At December 31, 2024 and December 31, 2023, Trade receivables primarily consisted of sales from provisionally priced concentrate and other production. The impact to Sales from revenue recognized due to the changes in pricing is an increase (decrease) of $125, $37, and $(34) for the years ended December 31, 2024, 2023, and 2022, respectively.
At December 31, 2024, Newmont had the following provisionally priced concentrate sales subject to final pricing over the next several months:
Provisionally Priced Sales
Subject to Final Pricing (1)
Average Provisional
Price (per ounce/pound)
Gold (ounces, in thousands)265 $2,635 
Copper (pounds, in millions)85 $3.99 
Silver (ounces, in millions)6 $28.99 
Lead (pounds, in millions)52 $0.88 
Zinc (pounds, in millions)114 $1.34 
____________________________
(1)Includes provisionally priced by-product sales subject to final pricing, which are recognized in Costs applicable to sales.
Silver Streaming Agreement
The Company is obligated to sell 25% of silver production from the Peñasquito mine to Wheaton Precious Metals Corporation at the lesser of market price or a fixed contract price, subject to an annual inflation adjustment of up to 1.65%. This agreement contains off-market terms and was initially recognized at its acquisition date fair value as a finite-lived intangible liability. The current and non-current portion are recorded to Other current liabilities and Silver streaming agreement, respectively. The Company’s policy is to amortize the liability into Sales each period using the units-of-production method. During the years ended December 31, 2024, 2023, and 2022, the Company amortized $91, $42, and $73, respectively, of the liability into revenue. At December 31, 2024 and 2023, the value of the liability included in the Consolidated Balance Sheet was $775 and $866, respectively.
Revenue by Geographic Area
Newmont primarily conducts metal sales in U.S. dollars, and therefore Sales are not exposed to fluctuations in foreign currencies. Revenues from sales attributed to countries based on the location of the customer were as follows:
Year Ended December 31,
202420232022
United Kingdom (1)
$10,966 $7,637 $7,537 
South Korea1,956 975 1,426 
Japan1,920 512 442 
Philippines709 451 340 
Switzerland
638 600 721 
Mexico600 240 604 
Australia
409 376 7 
United States2 48 24 
Other
1,482 973 814 
$18,682 $11,812 $11,915 
____________________________
(1)Includes $91, $42, and $73 related to non-cash amortization of the silver streaming agreement liability for the years ended December 31, 2024, 2023, and 2022, respectively.
Revenue by Major Customer
As gold can be sold through numerous gold market traders worldwide, the Company is not economically dependent on a limited number of customers for the sale of its product. The Company sells copper, silver, lead, and zinc predominantly in the form of concentrates. The concentrates are sold under a combination of short-term and long-term supply contracts with processing fees based on the demand for these concentrates in the global marketplace.
Customers with revenue in excess of 10% of total Sales consisted of the following customers in 2024: Standard Chartered $4,833 (26%), JPMorgan Chase $2,317 (12%), and Royal Bank of Canada $1,897 (10%); in 2023: JPMorgan Chase $2,583 (22%), Royal Bank of Canada $1,765 (15%), Standard Chartered $1,659 (14%), and Toronto Dominion Bank $1,630 (14%); in 2022: Standard Chartered $4,179 (35%) and JPMorgan Chase $1,503 (13%).
v3.25.0.1
RECLAMATION AND REMEDIATION
 12 Months Ended
Dec. 31, 2024
Environmental Remediation Obligations [Abstract]  
RECLAMATION AND REMEDIATION RECLAMATION AND REMEDIATION
The Company’s mining and exploration activities are subject to various domestic and international laws and regulations governing the protection of the environment. These laws and regulations are continually changing and are generally becoming more restrictive. The Company conducts its operations to protect public health and the environment and believes its operations are in compliance with applicable laws and regulations in all material respects. The Company has made, and expects to make in the future, expenditures to comply with such laws and regulations, but cannot predict the full amount of such future expenditures. Estimated future reclamation and remediation costs are based principally on current legal and regulatory requirements.
The Company’s Reclamation and remediation expense consisted of:
Year Ended December 31,
202420232022
Reclamation adjustments and other$(108)$1,207 $646 
Reclamation accretion365 238 173 
Reclamation expense257 1,445 819 
Remediation adjustments and other64 81 96 
Remediation accretion7 7 6 
Remediation expense71 88 102 
Reclamation and remediation$328 $1,533 $921 
In 2024, reclamation adjustments were primarily due to a $136 decrease at portions of the Yanacocha site that are no longer in production and with no expected substantive economic value (i.e., non-operating) as a result of updated cost estimates. In 2023, reclamation adjustments were primarily due to increased water management costs at non-operating portions of the Yanacocha site, which resulted in an increase of $1,101. In 2022, reclamation adjustments were primarily due to higher estimated closure costs resulting from cost inflation and increased water management costs at portions of the Yanacocha and Porcupine site operations that are non-operating that resulted in increases of $529 and $91, respectively.
In 2024, remediation adjustments were primarily due to the completion of haul road safety enhancements, continued clean up of contaminated materials, and closure of the three mine portals at the Ross Adams mine. In 2023 remediation adjustments were primarily due to higher water management costs and project execution delays at the Midnite mine and Dawn mill sites. In 2022, remediation adjustments are primarily due to higher waste disposal costs and project execution delays at the Midnite mine and Dawn mill sites.
The following are reconciliations of Reclamation and remediation liabilities:
ReclamationRemediationTotal
Balance at January 1, 2023
$6,731 $373 $7,104 
Additions, changes in estimates and other1,246 65 1,311 
Additions from the Newcrest transaction401 — 401 
Payments, net(231)(44)(275)
Accretion expense238 7 245 
Balance at December 31, 2023
8,385 401 8,786 
Additions, changes in estimates and other41 44 85 
Acquisitions and divestitures (4)
71 — 71 
Payments, net(351)(82)(433)
Accretion expense365 7 372 
Reclassification to Liabilities held for sale
(1,496)— (1,496)
Balance at December 31, 2024
$7,015 $370 $7,385 
At December 31,
20242023
ReclamationRemediationTotalReclamationRemediationTotal
Current (1)
$928 $63 $991 $558 $61 $619 
Non-current (2)
6,087 307 6,394 7,827 340 8,167 
Total (3)
$7,015 $370 $7,385 $8,385 $401 $8,786 
____________________________
(1)The current portion of reclamation and remediation liabilities are included in Other current liabilities. Refer to Note 22.
(2)The non-current portion of reclamation and remediation liabilities are included in Reclamation and remediation liabilities.
(3)Total reclamation liabilities includes $4,546 and $4,804 related to Yanacocha at December 31, 2024 and 2023, respectively.
(4)During 2024, measurement period adjustments of $349 increased Reclamation and remediation liabilities from refinements to the preliminary valuation of the Newcrest sites. These adjustments were partially offset by $278 as a result of the sale of the assets of the Telfer reportable segment in the fourth quarter of 2024.
The Company is also involved in several matters concerning environmental remediation obligations associated with former, primarily historic, mining activities. Generally, these matters concern developing and implementing remediation plans at the various sites involved. Depending upon the ultimate resolution of these matters, the Company believes that it is reasonably possible that the liability for these matters could be as much as 51% greater or 5% lower than the amount accrued at December 31, 2024. The amounts accrued are reviewed periodically based upon facts and circumstances available at the time. Changes in estimates are included in Other current liabilities and Reclamation and remediation liabilities in the period estimates are revised.
Included in Assets held for sale at December 31, 2024 is $93 of restricted cash held for purposes of settling reclamation and remediation obligations at Akyem.
Included in Other non-current assets at December 31, 2024 and 2023 are $29 and $81 respectively, of non-current restricted cash held for purposes of settling reclamation and remediation obligations. The amounts at December 31, 2024 primarily relate to Ahafo and San Jose Reservoir at Yanacocha. The amounts at December 31, 2023 primarily relate to the Ahafo and Akyem mines in Ghana, Africa.
Included in Other non-current assets at December 31, 2024 and 2023 was $15 and $21, respectively, of non-current restricted investments, which are legally pledged for purposes of settling reclamation and remediation obligations. The amounts at December 31, 2024 and 2023 primarily relate to the San Jose Reservoir at Yanacocha.
Refer to Note 25 for further discussion of reclamation and remediation matters.
v3.25.0.1
IMPAIRMENT CHARGES
 12 Months Ended
Dec. 31, 2024
Asset Impairment Charges [Abstract]  
IMPAIRMENT CHARGES IMPAIRMENT CHARGES
Year Ended December 31,
202420232022
Long-lived and other assets (1)
Total
Long-lived and other assets (1)
GoodwillTotal
Long-lived and other assets (1)
GoodwillTotal
NGM (2)
$25 $25 $75 $11 $86 $1 $— $1 
Peñasquito19 19 21 1,210 1,231 4 — 4 
Cerro Negro2 2 5 — 5 — 459 459 
CC&V (3)
1 1 4 — 4 511 — 511 
Musselwhite (3)
— — 4 293 297 — — — 
Éléonore (3)
— — — 246 246 — — — 
Porcupine (3)
— — 5 — 5 — 341 341 
Other
31 31 17 — 17 4 — 4 
Impairment charges
$78 $78 $131 $1,760 $1,891 $520 $800 $1,320 
____________________________
(1)Primarily relates to non-cash write-downs of materials and supplies inventory and various assets that are no longer in use, except for certain impairment charges recognized for the year ended December 31, 2022 as described below.
(2)At December 31, 2024 and 2023, the Company recognized its proportionate share of the non-cash impairment charge on long-lived assets at NGM. The impairment charge resulted in a remaining balance of $2 and $22 within Property, plant and mine development, net at December 31, 2024 and 2023, respectively. The remaining balances were estimated based on observable market values for comparable assets for the individual assets that were determined to have residual market value.
(3)Sites are classified as held for sale as of December 31, 2024. Refer to Note 3 for further information.
The estimated cash flows utilized in both the long-lived asset and goodwill impairment evaluations are derived from the Company's current business plans. The Company completed its annual business plan update which reflected updated mine plans, certain adverse changes in market conditions, including inflationary pressures to costs and capital, strategic evaluation regarding the use of capital, and updates to asset retirement costs.
Impairment of goodwill
The Company evaluates its goodwill for impairment annually at December 31 or when events or changes in circumstances indicate that the fair value of a reporting unit is less than its carrying value. Each operating mine is considered a distinct reporting unit for purposes of goodwill impairment testing. Based on the December 31, 2024 review, the Company concluded that Goodwill was not impaired at any of the reporting units.
Based on the December 31, 2023 review, the Company concluded that Goodwill was impaired at the Musselwhite, Éléonore and Peñasquito reporting units. The goodwill impairments at Musselwhite and Éléonore were driven by a deterioration in underlying cash flows from higher costs due to inflationary pressures, and resulted in non-cash impairment charges of $293 and $246, respectively, which represented the full goodwill balance of the reporting units prior to impairment. The goodwill impairment at Peñasquito was also driven by lower expected cash flows, primarily due to an update to the geological model that impacted expected metal grade and recoveries, as well as higher costs due to inflationary pressures, and resulted in a non-cash impairment charge of $1,210, which represented the full goodwill balance of the reporting unit prior to impairment. The long-lived assets of Musselwhite, Éléonore and Peñasquito were evaluated for impairment prior to the quantitative goodwill assessment and no impairment was identified.
In addition, the Company recorded a non-cash impairment charge of $11 at NGM as a result of the decision to not pursue permitting for Phase 2 mining at Long Canyon. As a result, NGM placed Long Canyon on long-term care and maintenance and revised their business plan. The impairment represented the full goodwill balance at Long Canyon based on the Company's proportionate interest in NGM.
The Company measured the impairments by comparing the total fair value of the operations to the corresponding reporting unit carrying value. The estimated fair value was determined using the income approach and is considered a non-recurring level 3 fair value measurement. Significant inputs to the fair value measured included (i) updated cash flow information from the Company's current business and closure plans, (ii) a short-term gold price of $1,950, (iii) a long-term gold price of $1,700, (iv) current estimates of reserves, resources, and exploration potential, and (v) a reporting unit specific discount rate of 10.00% at Musselwhite, 17.50% at Éléonore, and 6.75% at Peñasquito. The selected discount rates for Musselwhite and Éléonore incorporate additional premium related to operational risk at these sites.
Based on the December 31, 2022 review, the Company concluded that Goodwill was impaired at the Porcupine and the Cerro Negro reporting units. The Porcupine goodwill impairment was driven by a deterioration in underlying cash flows from higher costs due to inflationary pressures and higher capital costs related to safety enhancements and the expansion of the active tailings storage
facility, ensuring GISTM compliance, as well as an increase to the asset retirement cost, and resulted in a non-cash impairment charge of $341, which represented the full goodwill balance of the reporting unit prior to impairment. The Cerro Negro goodwill impairment was driven by a 14% country specific discount rate that reflects current macroeconomic risk and uncertainty in Argentina, and resulted in a non-cash impairment charge of $459, which represented the full goodwill balance of the reporting unit prior to impairment. The long-lived assets of Porcupine and Cerro Negro were evaluated for impairment prior to the quantitative goodwill test and no impairment was identified.
The Company measured the impairments by comparing the total fair value of the existing operations to the corresponding reporting unit carrying value. The estimated fair value was determined using the income approach and is considered a non-recurring level 3 fair value measurement. Significant inputs to the fair value measured included (i) updated cash flow information from the Company's current business and closure plans, (ii) a short-term gold price of $1,750, (iii) a long-term gold price of $1,600, (iv) current estimates of reserves, resources, and exploration potential, and (v) a country specific discount rate of 4.50% in Canada and 14% in Argentina.
Impairment of long-lived and other assets
The Company reviews and evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable.
During the fourth quarter of 2022, the Company determined that an impairment indicator existed at CC&V. This determination was based on the updated business plan, which reflected a deterioration in underlying cash flows from lower production, impacted by the decision to place the mill on long-term care and maintenance, higher costs due to inflationary pressures, as well as an increase to the asset retirement cost. As a result of the impairment indicator, a recoverability test was performed and the Company concluded the long-lived assets at CC&V were impaired resulting in a non-cash impairment charge of $511 and a remaining balance of $25 within Property, plant and mine development, net at December 31, 2022. The Company measured the impairment by comparing the total fair value of the existing operations to the carrying value of the corresponding assets. The estimated fair value was determined using the income approach and is considered a non-recurring level 3 fair value measurement. Significant inputs to the fair value measurement included (i) updated cash flow information from the Company's current business and closure plans, (ii) a short-term gold price of $1,750, (iii) a long-term gold price of $1,600, (iv) current estimates of reserves, resources, and exploration potential, and (v) a country specific pre-tax discount rate of 6.75%.
v3.25.0.1
OTHER EXPENSE, NET
 12 Months Ended
Dec. 31, 2024
Operating Costs and Expenses [Abstract]  
OTHER EXPENSE, NET OTHER EXPENSE, NET
Year Ended December 31,
202420232022
Newcrest transaction and integration costs (1)
$72 $464 $— 
Settlement costs (2)
44 7 22 
Restructuring and severance (3)
38 24 4 
COVID-19 specific costs (4)
— 1 38 
Other37 21 18 
Other expense, net$191 $517 $82 
____________________________
(1)Related to the Newcrest transaction; refer to Note 3 for further information. For the year ended December 31, 2023, primarily comprised of a $316 stamp duty tax incurred in connection with the Newcrest transaction.
(2)Primarily relates to legal and other settlements, voluntary contributions, and other related costs. For the year ended December 31, 2024, primarily comprised of wind-down and demobilization costs related to the French Guiana project.
(3)Primarily represents severance and related costs associated with significant organizational and operating model changes implemented by the Company.
(4)Represents incremental direct costs incurred as a result of actions taken to protect against the impacts of the COVID-19 pandemic and to comply with local mandates. Beginning January 1, 2023, COVID-19 specific costs incurred in the ordinary course of business are recognized in Costs applicable to sales.
v3.25.0.1
OTHER INCOME (LOSS), NET
 12 Months Ended
Dec. 31, 2024
Other Income, Nonoperating [Abstract]  
OTHER INCOME (LOSS), NET OTHER INCOME (LOSS), NET

Year Ended December 31,
202420232022
Interest income$152 $148 $78 
Foreign currency exchange
101 (56)(5)
Change in fair value of investments and options
62 (47)(46)
Gain (loss) on asset and investment sales (1)
35 (197)35 
Gain on debt extinguishment (2)
32 — — 
Insurance proceeds (3)
12 37 14 
Pension settlements (4)
(1)(9)(137)
Other
32 36 34 
Other income (loss), net$425 $(88)$(27)
____________________________
(1)Primarily consists of the gain on sale of the Stream Credit Facility Agreement ("SCFA") of $49 partially offset by the loss of $29 related to the abandonment of the near-pit sizing and conveying system at Peñasquito for the year ended December 31, 2024; the loss of $235 related to the abandonment of the pyrite leach plant at Peñasquito for the year ended December 31, 2023; and the sale of the Company's 18.75% interest in Minera Agua Rica Alumbrera Limited ("MARA") for $61 for the year ended December 31, 2022.
(2)In 2024, the Company partially redeemed certain Senior Notes, resulting in a gain on extinguishment of $38, which is partially offset by the acceleration of $6 loss from Accumulated other comprehensive income (loss) related to the previously terminated interest rate cash flow hedges. Refer to Note 20 for additional information.
(3)For the year ended December 31, 2024, primarily consists of insurance proceeds received of $12 related to a conveyor failure at Ahafo. For the year ended December 31, 2023, primarily consists of insurance proceeds received of $45 and $11 related to Tanami due to significant rainfall and flooding in early 2023 and a conveyor failure at Ahafo, respectively. Of these amounts, $31 and $6, respectively, were recognized in Other income (loss), net, and primarily relate to business interruption coverage. The remaining amounts were recognized within Costs applicable to sales.
(4)Primarily represents pension settlement charges due to the pension annuitization in 2022 and lump sum payments to participants. For additional information regarding pension and other post-employment benefits, refer to Note 11.
v3.25.0.1
INCOME AND MINING TAXES
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
INCOME AND MINING TAXES INCOME AND MINING TAXES
The Company’s Income and mining tax benefit (expense) consisted of:
Year Ended December 31,
202420232022
Current:
United States$(93)$(20)$(47)
Foreign(1,224)(610)(686)
(1,317)(630)(733)
Deferred:
United States(157)62 236 
Foreign77 42 42 
(80)104 278 
Income and mining tax benefit (expense)$(1,397)$(526)$(455)
The Company’s Income (loss) before income and mining tax and other items consisted of:
Year Ended December 31,
202420232022
United States$536 $111 $(566)
Foreign4,041 (2,142)515 
Income (loss) before income and mining tax and other items$4,577 $(2,031)$(51)
The Company’s Income and mining tax benefit (expense) differed from the amounts computed by applying the United States statutory corporate income tax rate for the following reasons:
Year Ended December 31,
202420232022
Income (loss) before income and mining tax and other items$4,577 $(2,031)$(51)
U.S. Federal statutory tax rate21 %(961)21 %427 21 %11 
Reconciling items:
Percentage depletion(1)63 4 72 90 46 
Change in valuation allowance on deferred tax assets(8)302 (18)(358)(569)(290)
Rate differential for foreign earnings indefinitely reinvested9 (398)7 148 (151)(77)
Mining and other taxes (net of associated federal benefit)5 (237)(4)(87)(231)(118)
Uncertain tax positions (1)
(1)63 1 28 261 133 
Akyem recognition of DTL for assets held for sale
1 (49)— — — — 
Goodwill write-downs — — (25)(498)(482)(246)
Expiration of U.S. capital losses and foreign tax credits1 (47)(10)(195)(61)(31)
Transactions— — — (1)100 51 
Other (2)
4 (133)(2)(62)130 66 
Income and mining tax benefit (expense)31 %$(1,397)(26)%$(526)(892)%$(455)
____________________________
(1)Includes net tax benefit of $125, primarily consisting of a reduction in the related uncertain tax position of $95 and a valuation release of $29 for the full settlement with the Mexican Tax Authority entered into during the second quarter of 2022.
(2)Primarily consists of the impact of foreign exchange and earnings, the U.S. tax effect of minority interest attributable to non-U.S. investees, and the impact of return to provision adjustments.
Factors that Significantly Impact Effective Tax Rate (Other than Factors Described Separately Below)
Percentage depletion allowances (tax deductions for depletion that may exceed the tax basis in the mineral reserves) are available to the Company under the income tax laws of the United States for operations conducted in the United States or through branches and partnerships owned by U.S. subsidiaries included in the consolidated United States income tax return. These deductions are highly sensitive to the price of gold and other metals produced by the Company.
The Company operates in various jurisdictions around the world that have statutory tax rates that are significantly different than those of the U.S. These differences combine to move the overall effective tax rate higher than the U.S. statutory rate.
Mining taxes in Nevada, Mexico, Canada, Peru, and Australia represent state and provincial taxes levied on mining operations and are classified as income taxes as such taxes are based on a percentage of mining profits.
In the U.S., capital losses may be carried forward five years to offset capital gains. Capital loss carryforwards of $222, $—, and $—, expired in 2024, 2023 and 2022, respectively. The Company carries a full valuation allowance on U.S. capital losses.
In 2024, 2023, and 2022, the U.S. had foreign tax credits of $—, $193, and $31, respectively, expire.
Components of the Company's deferred income tax assets (liabilities) are as follows:
At December 31,
20242023
Deferred income tax assets:
Property, plant and mine development$887 $746 
Inventory132 320 
Reclamation and remediation2,077 2,362 
Net operating losses, capital losses and tax credits 2,297 2,655 
Employee-related benefits24 97 
Derivative instruments and unrealized loss on investments79 69 
Foreign exchange and financing obligations
58 86 
Silver streaming agreement
253 332 
Other555 643 
6,362 7,310 
Valuation allowances(4,363)(4,652)
$1,999 $2,658 
Deferred income tax liabilities:
Property, plant and mine development$(3,749)$(4,425)
Inventory(132)(160)
Investment in partnerships and subsidiaries (582)(579)
Other(232)(213)
(4,695)(5,377)
Net deferred income tax assets (liabilities)$(2,696)$(2,719)
These amounts reflect the classification and presentation that is reported for each tax jurisdiction in which the Company operates.
Valuation of Deferred Tax Assets
The Company assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to utilize the existing deferred tax assets. A significant piece of objective negative evidence evaluated was the recent pretax losses and/or expectations of future pretax losses. Such objective evidence limits the ability to consider other subjective evidence such as the Company's projections for future growth. However, the amount of the deferred tax asset considered realizable could be adjusted if estimates of future taxable income during the carryforward period are increased, if objective negative evidence in the form of cumulative losses is no longer present or if additional weight were given to subjective evidence such as the Company's projections for growth.
During 2024, the Company recorded a decrease to the valuation allowance of $302 and a corresponding tax benefit, primarily driven by decreases in the net deferred tax asset in Argentina, the valuation allowance on Canada's tax credits and property, plant and mine development, and the release associated with the expiration of capital loss carryforwards. There were additional valuation allowance established as a result of purchase accounting for the Newcrest transaction of $168.
Refer to Note 2 for additional risk factors that could impact the Company’s ability to realize the deferred tax assets.
Tax Loss Carryforwards, Foreign Tax Credits, and Canadian Tax Credits
At December 31, 2024 and 2023, the Company had (i) $2,005 and $3,678 of net operating loss carry forwards, respectively; and (ii) $414 and $513 of tax credit carry forwards, respectively. At December 31, 2024 and 2023, $760 and $989, respectively, of net operating loss carry forwards are attributable to the U.S., Australia, and France for which current tax law provides no expiration period. The net operating loss carry forward in Canada of $772 will expire by 2043. The net operating loss carryforward in Mexico of $173 will expire by 2033. The net operating loss carry forward in other countries is $300.
Tax credit carry forwards for 2024 and 2023 of $414 and $284, respectively, consist of foreign tax credits available in the United States; substantially all such credits not utilized will expire at the end of 2029, and of solar tax credit for 2024 and 2023 of $27 and $19, respectively, which will expire by 2046. Canadian tax credits for 2024 and 2023 of $77 and $210, respectively, consist of investment tax credits and minimum mining tax credits. Canadian investment tax credits for 2024 consisted of $72 which will substantially expire by 2043, and mining tax credits of $5 which will expire by 2042.
Company’s Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of gross unrecognized tax benefits, exclusive of interest and penalties, is as follows:
202420232022
Total amount of gross unrecognized tax benefits at beginning of year$144 $190 $245 
Additions (reductions) for tax positions of prior years (8)13 (1)
Additions for tax positions of current year — 2 — 
Reductions due to settlements with taxing authorities (2)(18)(53)
Reductions due to lapse of statute of limitations (23)(43)(1)
Total amount of gross unrecognized tax benefits at end of year$111 $144 $190 
At December 31, 2024, 2023, and 2022, $125, $190, and $219, respectively, represent the amount of unrecognized tax benefits, inclusive of interest and penalties that, if recognized, would impact the Company’s effective income tax rate.
The Company operates in numerous countries around the world and is subject to, and pays annual income taxes under, the various income tax regimes in the countries in which it operates. Some of these tax regimes are defined by contractual agreements with the local government, and others are defined by the general corporate income tax laws of the country. The Company has historically filed, and continues to file, all required income tax returns and paid the taxes reasonably determined to be due. The tax rules and regulations in many countries are highly complex and subject to interpretation. From time to time, the Company is subject to a review of its historic income tax filings and in connection with such reviews, disputes can arise with the taxing authorities over the interpretation or application of certain rules to the Company’s business conducted within the country involved.
Through the due diligence and integration processes, the Company has not identified new uncertain tax positions as a result of the Newcrest transaction.
The Australian Taxation Office (“ATO”) is conducting a limited review of the Company’s prior year tax returns. The ATO is reviewing an internal reorganization executed in 2011 when Newmont completed a restructure of the shareholding in the Company’s Australian subsidiaries. To date, the Company has responded to inquiries from the ATO and provided them with supporting documentation for the transaction and the Company’s associated tax positions. One aspect of the ATO review relates to an Australian capital gains tax that applies to sales or transfers of stock in certain types of entities. In the fourth quarter of 2017, the ATO notified the Company that it believes the 2011 reorganization is subject to capital gains tax of approximately $85 (including interest and penalties). The Company disputes this conclusion and is vigorously defending its position that the transaction is not subject to this tax. In the fourth quarter of 2017, the Company made a $24 payment to the ATO and lodged an Appeal with the Australian Federal Court. The court proceedings were held during the third quarter of 2024 and the Company is currently awaiting the judgment, which is expected during the second quarter of 2025.
In the third quarter of 2022, the Administración Federal de Ingresos Públicos ("AFIP") in Argentina notified the Company that it completed the 2016 transfer pricing review. The AFIP has questioned the Company’s treatment of intercompany loans and believes they should be akin to capital contributions. In the fourth quarter of 2024, while the Company still believes in the merits of the position, it has opted into Argentina's newly implemented Tax Amnesty Program and made a settlement payment of $8 in 2024 with the remaining $26 to be paid in early 2025. The Tax Amnesty Program reduces the tax penalties and alleviates potential criminal charges.
The Company and/or subsidiaries file income tax returns in the U.S. Federal jurisdiction, and various state and foreign jurisdictions. With few exceptions, the Company is no longer subject to U.S. Federal, state and local, and non-U.S. income tax examinations by tax authorities for years before 2016. As a result of (i) statute of limitations that will begin to expire within the next 12 months in various jurisdictions, and (ii) possible settlements of audit-related issues with taxing authorities in various jurisdictions, the Company believes that it is reasonably possible that the total amount of its unrecognized income tax liability will decrease between $10 and $30 in the next 12 months.
The Company’s practice is to recognize interest and/or penalties related to unrecognized tax benefits as part of Income and mining tax benefit (expense). At December 31, 2024 and 2023, the total amount of accrued income-tax-related interest and penalties included in the Consolidated Balance Sheets was $47 and $78, respectively. During 2024, 2023, and 2022 the Company released $31, increased $1, and released $61 of interest and penalties, respectively, through the Consolidated Statements of Operations.
Other
No additional income taxes have been provided for any remaining undistributed foreign earnings not subject to the transition tax, or any additional outside basis difference inherent in these entities, as these amounts continue to be indefinitely reinvested in foreign operations.
v3.25.0.1
EMPLOYEE-RELATED BENEFITS
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
EMPLOYEE-RELATED BENEFITS EMPLOYEE-RELATED BENEFITS
At December 31,
20242023
Current:
Accrued payroll and withholding taxes $461 $477 
Workers’ participation and other bonuses108 10 
Accrued severance19 13 
Other post-retirement benefit plans11 11 
Employee pension benefits 5 6 
Other employee-related payables 26 34 
$630 $551 
Non-current:
Accrued severance$386 $439 
Other post-retirement benefit plans 55 66 
Employee pension benefits 29 35 
Other employee-related payables 85 115 
$555 $655 
Pension and Other Benefit Plans
The Company provides a defined benefit pension plan to eligible employees. Benefits are generally based on years of service and the employee’s annual compensation. Various international pension plans are based on local laws and requirements. Pension costs are determined annually by independent actuaries and pension contributions to the U.S. qualified plans are made based on funding standards established under the Employee Retirement Income Security Act of 1974, as amended.
The following tables provide a reconciliation of changes in the plans’ benefit obligations and assets’ fair values for 2024 and 2023:
Pension BenefitsOther Benefits
2024202320242023
Change in benefit obligation:
Benefit obligation at beginning of year$325 $311 $71 $66 
Service cost14 12 1 1 
Interest cost17 17 4 4 
Actuarial loss (gain)(14)17 (10)4 
Foreign currency exchange (gain) loss(6)3 (2)— 
Benefits paid(20)(7)(4)(4)
Amendments— 2 — — 
Settlement payments(3)(30)— — 
Projected benefit obligation at end of year$313 $325 $60 $71 
Accumulated benefit obligation$294 $306 $60 $71 
Change in fair value of assets:
Fair value of assets at beginning of year$322 $311 $— $— 
Actual return (loss) on plan assets11 32 — — 
Foreign currency exchange gain (loss)(4)2 — — 
Employer contributions7 14 4 4 
Benefits paid(20)(7)(4)(4)
Settlement payments(3)(30)— — 
Fair value of assets at end of year$313 $322 $— $— 
(Unfunded) funded status, net:$— $(3)$(60)$(71)
Amounts recognized in the Consolidated Balance Sheets:
Other non-current assets (1)
$37 $38 $— $— 
Employee-related benefits, current(5)(6)(5)(6)
Employee-related benefits, non-current (1)
(32)(35)(55)(65)
Net amounts recognized$— $(3)$(60)$(71)
____________________________
(1)Includes $4 of non-current assets and $3 of non-current liabilities related to the pension plan at Porcupine that were reclassified to Assets held for sale and Liabilities held for sale as of December 31, 2024.
The Company’s qualified pension plan is funded with cash contributions in compliance with Internal Revenue Service rules and regulations. The Company’s non-qualified and other benefit plans are currently not funded, but exist as general corporate obligations. The information contained in the above tables presents the combined funded status of qualified and non-qualified plans. The Company reviews its retirement benefit programs on a regular basis and will consider market conditions and the funded status of its qualified pension plans in determining whether additional contributions are appropriate in calendar year 2025.
As of December 31, 2024 and 2023, all pension benefit plans had accumulated benefit obligations and projected benefit obligations in excess of the fair value of assets with the exception of one defined benefit pension plan in the U.S. and one defined benefit pension plan in Canada. The fair value of the plan assets associated with these pension benefit plans was in excess of the related accumulated benefit obligations and projected benefit obligations. The following table provides information for the Company's defined benefit pensions plans that had aggregate accumulated benefit obligations and projected benefit obligations in excess of plan assets at December 31:
Pension Benefits (1)
20242023
Projected benefit obligation$39 $42 
Accumulated benefit obligation$32 $35 
Fair value of plan assets$2 $1 
____________________________
(1)Information for other benefit plans with an accumulated benefit obligations in excess of plan assets has not been included as all of the other benefit plans are unfunded.
The significant assumptions used in measuring the Company’s benefit obligation were mortality assumptions and discount rate.
The mortality assumptions used to measure the pension and other post retirement obligation incorporate future mortality improvements from tables published by the Society of Actuaries ("SOA"). In 2024 and 2023, the SOA announced they would not release a new generational projection scale for the related years and instead updated the Mortality Improvement Model ("MIM") tool with the ability to optionally input mortality loads to model differing viewpoints of the ongoing effect of COVID. The Company utilized the Pri-2012 mortality tables and the MP-2021 generational projection scales, with no adjustment for COVID due to the Company not experiencing material mortality gain due to COVID, to measure the pension and other post retirement obligations as of December 31, 2024 and 2023.
Yield curves matching the Company’s benefit obligations were derived using a model based on high quality corporate bond data from Bloomberg. The model develops a discount rate by selecting a portfolio of high quality corporate bonds whose projected cash flows match the projected benefit payments of the plan. The resulting curves were used to identify a weighted average discount rate for the Company of 5.77% and 5.33% at December 31, 2024 and 2023, respectively, based on the timing of future benefit payments.
Actuarial (gain) loss of $(24) and $21 was recognized in the years ended December 31, 2024 and 2023, respectively, primarily due to a change in discount rate from the prior year.
Settlement accounting is required when annual lump sum payments exceed the annual interest and service costs for a plan and results in a remeasurement of the related pension benefit obligation and plan assets and the recognition of settlement charges in Other income (loss), net due to the acceleration of a portion of unrecognized actuarial losses. Lump sum payments are primarily made from the plan assets. Settlement accounting was triggered for the periods ended December 31, 2024, 2023 and 2022 resulting in pension settlement charges of $1, $9 and $137, respectively.
For the period ended December 31, 2022, pension settlement charges primarily resulted from the Company executing an annuitization to transfer a portion of the pension plan obligations from the Company's U.S. qualified defined benefit pension plans to an insurance company using plan assets during the first quarter of 2022. As a result, $527 of the previously recognized pension obligations were transferred and settlement accounting was triggered which resulted in the recognition of a non-cash settlement loss of $130 in Other income (loss), net. In December 2022, the Company received the final true-up from the insurance company for the annuitization, which had an inconsequential impact on the settlement.
The following table provides the net pension and other benefits amounts recognized in Accumulated other comprehensive income (loss):
Pension BenefitsOther Benefits
At December 31,At December 31,
2024202320242023
Accumulated other comprehensive income (loss):
Net actuarial gain (loss)$(71)$(76)$33 $24 
Prior service credit2 4 — 1 
(69)(72)33 25 
Less: Income taxes15 16 (7)(5)
Total$(54)$(56)$26 $20 
The following table provides components of the total benefit cost (income), inclusive of the net periodic pension and other benefits costs (credits):
Pension Benefit Costs (Credits)Other Benefit Costs (Credits)
Years Ended December 31,Years Ended December 31,
202420232022202420232022
Pension benefit cost (income), net: (1)
Service cost $14 $12 $15 $1 $1 $1 
Interest cost 17 17 19 4 4 3 
Expected return on plan assets (24)(23)(35)— — — 
Amortization, net1 (7)2 (2)(2)(3)
Net periodic benefit cost (income)8 (1)1 3 3 1 
Settlement cost1 9 137 — — — 
Total benefit cost (income)$9 $8 $138 $3 $3 $1 
____________________________
(1)Service costs are included in Costs applicable to sales or General and administrative and the other components of benefit costs are included in Other income (loss), net.
The following table provides the components recognized in Other comprehensive income (loss):
Pension BenefitsOther Benefits
Year Ended December 31,Year Ended December 31,
202420232022202420232022
Net loss (gain)$(1)$8 $(20)$(10)$3 $(20)
Amortization, net(1)7 (2)2 2 3 
Prior service cost
— 2 — — — — 
Settlements(1)(9)(137)— — — 
Total recognized in other comprehensive income (loss)$(3)$8 $(159)$(8)$5 $(17)
Total benefit cost (credit) and other comprehensive income (loss)$6 $16 $(21)$(5)$8 $(16)
Actuarial losses in excess of 10 percent of the greater of the projected benefit obligation or market-related value of plan assets are amortized over the expected average remaining future service period of the current active participants.
The significant assumptions used in measuring the Company’s Total benefit cost (income) and Other comprehensive income (loss) were discount rate and expected return on plan assets:
Pension BenefitsOther Benefits
Year Ended December 31,Year Ended December 31,
202420232022202420232022
Weighted average assumptions used in measuring the net periodic benefit cost:
Discount rate (1)
5.33 %5.63 %4.09 %6.09 %6.10 %3.03 %
Expected return on plan assets 7.09 %6.38 %6.75 %N/AN/AN/A
____________________________
(1)Total benefit cost (income) and other comprehensive income (loss) for the Company's U.S. qualified defined benefit pension plan was remeasured due to the settlement accounting required from the retiree annuity purchase on March 25, 2022. The discount rate used for determining the Total benefit cost (income) and other comprehensive income (loss) reflected 3.03% from January 1, 2022 through March 25, 2022 and 4.09% from March 26, 2022 through December 31, 2022.
The expected long-term return on plan assets used for each period in the three years ended December 31, 2024 was determined based on an analysis of the asset returns over multiple time horizons for the Company’s actual plan and for other comparable U.S. corporations. At December 31, 2024, Newmont has estimated the expected long-term return on the qualified pension plan's assets to be 7.20% which will be used in determining future net periodic benefit cost. The Company determines the long-term return on plan assets by considering the most recent capital market forecasts, the plans’ current asset allocation and the actual return on plan assets in comparison to the expected return on assets. The average actual return on the qualified pension plan's assets during the 36 years ended December 31, 2024 approximated 7.52%.
Newmont has two pension calculations for salaried U.S. employees. The first is a “Final Average Pay” pension calculation which is defined as a monthly annuity at age 62 based, in part, on their highest five year eligible earnings and years of credited service. The second is the “Stable Value” calculation which is defined as a lump sum payment to employees upon retirement. The amount of the lump sum is the total of annual accruals based on the employee’s eligible earnings and years of service. The benefits accrued under the Final Average Pay formula were frozen on June 30, 2014 for those eligible employees. Beginning July 1, 2014, all future accruals are based on the terms and features of the Stable Value calculation.
The assumed health care trend rate used to measure the expected cost of benefits is 6.50% in 2025 and decreases gradually each year to 5.00% in 2031, which is used thereafter.
The qualified pension plan employs an independent investment firm which invests the assets of the plans in certain approved funds that correspond to specific asset classes with associated target allocations. The goal of the pension fund investment program is to achieve prudent actuarial funding ratios while maintaining acceptable risk levels. The investment performance of the plans and that of the individual investment firms is measured against recognized market indices. The performance of the pension funds are monitored by an investment committee comprised of members of the Company’s management, which is advised by an independent investment consultant. With the exception of global capital market economic risks, the Company has identified no significant portfolio risks associated to asset classes. The following is a summary of the target asset allocations for 2024 and the actual asset allocation at December 31, 2024:
Asset AllocationTarget
Actual at December 31, 2024
Fixed income investments45 %44 %
World equity fund (U.S. and International equity investments)20 %20 %
International equity investments12 %12 %
U.S. equity investments 11 %11 %
Real estate
8 %9 %
High yield fixed income investments4 %4 %
Cash equivalents— %— %
Cash equivalent instruments are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets and are primarily invested in money market securities and U.S. Treasury securities.
Commingled fund investments are managed by several fund managers and are valued at the net asset value per share for each fund. Although the majority of the underlying assets in the funds consist of actively traded equity securities and bonds, the unit of account is considered to be at the fund level. These funds require less than a month’s notice for redemptions and can be redeemed at the net asset value per share.
The following table sets forth the Company’s pension plan assets measured at fair value:
Fair Value at December 31,
20242023
Commingled Funds:
Fixed income investments$143 $152 
World equity fund (U.S. and International equity investments)54 54 
International equity investments45 45 
U.S. equity investments34 34 
Real estate25 25 
High yield fixed income investments11 11 
312 321 
Cash equivalents1 1 
Total$313 $322 
Cash Flows
Benefit payments expected to be paid to plan participants are as follows:
Pension PlanOther Benefits Plan
2025$21 $6 
2026$21 $6 
2027$21 $5 
2028$24 $5 
2029$24 $5 
Thereafter
$131 $26 
Savings Plans
The Company has one qualified defined contribution savings plan in the U.S. that covers salaried and hourly employees. When an employee meets eligibility requirements, the Company matches 100% of employee contributions of up to 6% of eligible earnings. Hourly employees receive an additional retirement contribution to the participant’s retirement contribution account equal to an amount which is paid and determined by the Company. Currently, the additional retirement contribution is 5% of eligible earnings. Matching contributions are made in cash. In addition, the Company has one non-qualified supplemental savings plan for executive-level employees whose benefits under the qualified plan are limited by federal regulations.
v3.25.0.1
STOCK-BASED COMPENSATION
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
The Company has stock incentive plans for directors, executives and eligible employees. Stock incentive awards include RSUs and PSUs. The Company issues new shares of common stock to satisfy vesting under all of its stock incentive awards. Prior to 2012, the Company also granted options to purchase shares of stock with exercise prices not less than fair market value of the underlying stock at the date of grant. At December 31, 2024, 18,993,357 shares were authorized for future stock incentive plan awards.
Restricted Stock Units
The Company grants RSUs to directors, executives and eligible employees. Awards are determined as a target percentage of base salary and, for eligible employees, are subject to a personal performance factor. For all RSU grants issued prior to February 2018, RSU awards vest on a straight-line basis over periods of three years or more, unless the employee becomes retirement eligible prior to the vesting date. If an employee becomes retirement eligible and retires prior to the vesting date, the remaining awards vest on a pro rata basis at the retirement date. Starting with the February 2018 grant, if the employee becomes retirement eligible at any point during the vesting period, the entire award is considered earned after the later of the one-year service period from the grant date or the retirement eligible date. Prior to vesting, holders of RSUs do not have the right to vote the underlying shares; however, directors, executives and eligible employees accrue dividend equivalents on their RSUs, which are paid at the time the RSUs vest. The accrued dividend equivalents are not paid if RSUs are forfeited. The RSUs are subject to forfeiture risk and other restrictions. Upon vesting, the employee is entitled to receive one share of the Company’s common stock for each restricted stock unit.
Performance Stock Units
In 2023 and 2024, the Company amended the PSU plan for eligible executives to incorporate awards that vest based on certain performance-related conditions in addition to the historically granted awards that vest based on certain market-related conditions.
For market-related conditions, the awards vest after the three-year requisite service period based on the Company's total stockholder return compared to the return of a peer group. The grant date fair value of the awards are amortized on a straight-line basis over the required performance period.
The grant date fair value of the market-related conditions for each PSU granted in 2024, 2023 or 2022 was determined using a Monte Carlo valuation model, which requires the input of the following subjective assumptions:
Year Ended December 31,
202420232022
Risk-free interest rate4.40%4.45%1.61%
Volatility range
17.50% - 76.70%
34.24% - 81.36%
31.78% - 81.77%
Weighted-average volatility47.71%55.24%54.89%
Expected term (years)333
Weighted-average fair market value$33.91$50.39$77.00
The risk-free interest rates are based on a U.S. Treasury yield curve in effect at the time of grant. Expected volatility is based on historical volatility of the Company's stock as well as the stock of the peer group for the three-year performance period.
For performance-related conditions, the awards vest based on the achievement of certain performance metrics which include (i) representation of women on executive team, (ii) Scope 1 and 2 emission reductions related to key milestone projects, and (iii) return on capital employed. The grant date fair value of the awards are amortized over the three-year requisite service period, based on the probability of the performance conditions being met.
The grant date fair value of the performance-related conditions for each PSU granted in 2024 was determined using the Company's stock price on the grant. The weighted-average fair market value for 2024 was $30.01.
Stock-Based Compensation Activity
A summary of the status and activity of non-vested RSUs and PSUs for the year ended December 31, 2024 is as follows:
RSUPSU
Number of UnitsWeighted Average Grant-Date Fair ValueNumber of UnitsWeighted Average Grant-Date Fair Value
Non-vested at beginning of year2,102,567 $48.95 1,193,535 $60.60 
Granted2,509,780 $31.20 878,974 $28.00 
Vested(1,011,308)$50.60 (173,982)$65.41 
Forfeited(322,569)$35.91 (256,814)$48.22 
Non-vested at end of year3,278,470 $36.13 1,641,713 $44.58 
The total intrinsic value and fair value of RSUs that vested in 2024, 2023, and 2022 was $37, $36, and $62, respectively. The total intrinsic value and fair value of PSUs that vested in 2024, 2023, and 2022 was $6, $35, and $47, respectively.
Cash flows resulting from excess tax benefits are classified as part of cash flows from operating activities. Excess tax benefits are realized tax benefits from tax deductions for vested RSUs, settled PSUs, and exercised options in excess of the deferred tax asset attributable to stock compensation costs for such equity awards. The Company recorded $3 and $1 in tax deficiencies for the years ended December 31, 2024 and 2023, respectively, and $5 in excess tax benefits for the year ended December 31, 2022.
At December 31, 2024, there was $62 and $38 of unrecognized compensation costs related to the unvested RSUs and PSUs, respectively. This cost is expected to be recognized over a weighted average period of approximately two years.
The Company recognized stock-based compensation as follows:
Year Ended December 31,
202420232022
Restricted stock units$63 $52 $49 
Performance leveraged stock units20 24 24 
Other (1)
6 4 3 
Total stock-based compensation
$89 $80 $76 
____________________________
(1)Other includes the Company's proportionate share of NGM stock compensation.
v3.25.0.1
FAIR VALUE ACCOUNTING
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
FAIR VALUE ACCOUNTING FAIR VALUE ACCOUNTING
Fair value accounting establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below:
Level 1    Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;
Level 2    Quoted prices in markets that are not active, quoted prices for similar assets or liabilities in active markets, quoted prices or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability and model-based valuation techniques (e.g. the Black-Scholes model) for which all significant inputs are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and
Level 3    Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (supported by little or no market activity).
The following tables set forth the Company’s assets and liabilities measured at fair value on a recurring (at least annually) and nonrecurring basis by level within the fair value hierarchy. As required by accounting guidance, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
Fair Value at December 31, 2024
TotalLevel 1Level 2Level 3
Assets:
Cash and cash equivalents (1)
$3,619 $3,619 $— $— 
Restricted cash31 31 — — 
Trade receivables from provisional concentrate sales, net 993 — 993 — 
Assets held for sale (Note 3) (2)
1,840 — 1,168 672 
Equity method investments
212 212 — — 
Marketable and other equity securities (Note 15)
305 305 — — 
Restricted marketable debt securities (Note 15)
15 15 — — 
Derivative assets (Note 14)
142 — — 142 
Other assets (3)
61 — — 61 
$7,218 $4,182 $2,161 $875 
Liabilities:
Debt (4)
$8,400 $— $8,400 $— 
Derivative liabilities (Note 14)
143 — 137 6 
Other liabilities (5)
51 — 51 — 
$8,594 $— $8,588 $6 
Fair Value at December 31, 2023
TotalLevel 1Level 2Level 3
Assets:
Cash and cash equivalents (1)
$3,002 $3,002 $— $— 
Restricted cash98 98 — — 
Trade receivables from provisional concentrate sales, net 734 — 734 — 
Marketable and other equity securities (Note 15)
252 243 9 — 
Restricted marketable debt securities (Note 15)
21 21 — — 
Derivative assets (Note 14)
642 — 7 635 
$4,749 $3,364 $750 $635 
Liabilities:
Debt (4)
$8,975 $— $8,975 $— 
Derivative liabilities (Note 14)
8 — 3 5 
$8,983 $— $8,978 $5 
____________________________
(1)Cash and cash equivalents at December 31, 2024 and 2023 include term deposits that have an original maturity of three months or less.
(2)Assets held for sale at December 31, 2024 includes assets held for sale that were written down to their fair value, excluding costs to sell, of $1,840 at December 31, 2024. The aggregate fair value, excluding costs to sell, of net assets held for sale subject to fair value remeasurement was $679 at December 31, 2024.
(3)Consists of the contingent payments received through the Telfer Sale that do not meet the definition of a derivative and are considered to be a financial asset, for which the Company recorded at fair value at completion of the sale on December 4, 2024.
(4)Debt is carried at amortized cost. The outstanding carrying value was $8,476 and $8,874 at December 31, 2024 and December 31, 2023, respectively. The fair value measurement of debt was based on an independent third-party pricing source.
(5)Consists of the Greatland Option acquired through the Telfer Sale in the fourth quarter of 2024, refer to Notes 3 and 22 for further information.
The Company’s cash and cash equivalents and restricted cash are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices in active markets and are primarily money market securities and U.S. Treasury securities.
The Company’s net trade receivables from provisional metal concentrate sales, which contain an embedded derivative and are subject to final pricing, are valued using quoted market prices based on forward curves for the particular metal. As the contracts themselves are not traded on an exchange, these receivables are classified within Level 2 of the fair value hierarchy.
The Company's assets held for sale consist of the six non-core assets and a development project that met the accounting requirements to be presented as held for sale in the first quarter of 2024. The assets are classified as non-recurring within Level 2 and 3 of the fair value hierarchy. Assets held for sale classified as Level 3 in the fair value hierarchy include those with a definitive sales agreement containing Level 3 components, and those without a definitive sales agreement. All other assets held for sale are classified as Level 2 in the fair value hierarchy. Refer to Note 3 for further information.
The Company's equity method investments consist of the Greatland equity method investment, which was acquired through the Telfer Sale in the fourth quarter of 2024. The Greatland equity method investment is accounted for under the fair value option and is classified as Level 1 within the fair value hierarchy and is valued using published market prices of actively traded securities. Refer to Notes 3 and 15 for further information.
The Company’s marketable and other equity securities with readily determinable fair values are valued using quoted market prices in active markets and as such are classified within Level 1 of the fair value hierarchy. The fair value of the marketable equity securities are calculated as the quoted market price of the marketable equity security multiplied by the quantity of shares held by the Company.
The Company’s marketable and other equity securities without readily determinable fair values consists of the Company’s ownership in warrants in publicly traded companies. Warrants are valued using a Black-Scholes model using quoted market prices in active markets of the underlying securities. As the warrants themselves are not traded on the exchange, these equity securities are classified within Level 2 of the fair value hierarchy.
The Company’s restricted marketable debt securities are primarily U.S. government issued bonds and international bonds. The Company’s debt securities held at Yanacocha are classified within Level 1 of the fair value hierarchy, using published market prices of actively traded securities. The Company’s debt securities held at Corporate and Other are classified within Level 1 and Level 2 of the fair value hierarchy. The Level 1 debt securities are valued using published market prices of actively traded securities and the Level 2 debt securities are valued using pricing models which are based on published market inputs for similar, actively traded securities.
The Company’s derivative instruments consist of the Stream Credit Facility Agreement ("SCFA"), the Cadia Power Purchase Agreement ("Cadia PPA"), foreign currency fixed forward contracts, and contingent considerations accounted for as derivatives.
The SCFA and the Cadia PPA were acquired as part of the Newcrest transaction and were not designated for hedge accounting under ASC 815 at December 31, 2023. At January 1, 2024, the Company designated the Cadia PPA for hedge accounting. Additionally, in the second quarter of 2024, the Company sold the SCFA.
The Cadia PPA is accounted for at fair value using probability weighted discounted cash flow models and is classified within Level 3 of the fair value hierarchy. The valuation model requires a variety of inputs including life of mine production profiles, forward power prices, forecasted power generation volume, discount rates, and inflation assumptions. The SCFA was accounted for at fair value using probability weighted discounted cash flow models and is classified within Level 3 of the fair value hierarchy at December 31, 2023. The valuation model required a variety of inputs including long-term metal prices, life of mine production profiles, and discount rates. Refer to Note 14 for further information.
The foreign currency fixed forward contracts are valued using pricing models based on forward curves. The Company’s foreign currency fixed forward derivatives trade in liquid markets, and as such, model inputs can generally be verified and do not involve significant management judgment. Such instruments are classified within Level 2 of the fair value hierarchy. Refer to Note 14 for further information.
The contingent consideration assets and liabilities, accounted for as derivatives, are classified within Level 3 of the fair value hierarchy. Changes in the discount rate will result in an inverse impact to the estimated fair value of the contingent consideration assets and liabilities. Refer to Note 14 for further information.
The Company's other assets recognized at fair value consist of the contingent payments acquired through the Telfer Sale in the fourth quarter of 2024. The contingent payments were accounted for at fair value at completion of the sale and are classified as non-recurring within Level 3 of the fair value hierarchy. Valuation models require a variety of inputs, including long-term metal prices, life of mine production profiles, and discount rates. Refer to Note 3 for further information.
The Company's other liabilities recognized at fair value consist of the Greatland Option, which was acquired through the Telfer Sale in the fourth quarter of 2024. The Greatland Option is accounted for under the fair value option and is classified as Level 2 within the fair value hierarchy and is valued using pricing models which are based on published market inputs for similar, actively traded securities. Refer to Notes 3 and 15 for further information.
The following tables set forth a summary of the quantitative and qualitative information related to the significant observable and unobservable inputs used in the calculation of the Company’s Level 3 financial assets and liabilities at December 31, 2024 and December 31, 2023:
DescriptionAt December 31, 2024Valuation techniqueSignificant inputRange, point estimate or averageWeighted Average Discount Rate
Assets held for sale
$672 Income approach
Various (1)
Various (1)
Various (1)
Derivative assets:
Hedging instruments (2)(3)
$94 
Income approach
Forward power prices
A$43.00- A$321.00
6.75%
Contingent consideration assets
$47 
Income approach
Discount rate
6.37% - 16.38%
10.67%
Other assets
$61 
Income approach
Discount rate
6.60%
6.60%
Derivative liabilities
$5 
Income approach
Discount rate
5.22% - 5.95%
5.66%
____________________________
(1)For assets held for sale for which a binding agreement was reached, the terms of the respective agreements were utilized to estimate the fair value and are considered to be a non-recurring fair value measurement under the income approach. For all other assets held for sale, refer to Note 3 for information on the assumptions and inputs specific to the non-recurring fair value measurement performed.
(2)The SCFA and the Cadia PPA, acquired as part of the Newcrest transaction, were not designated in a hedging relationship at December 31, 2023. At January 1, 2024, the Company designated the Cadia PPA for hedge accounting, and as a result is included within Hedging instruments at December 31, 2024. Additionally, in the second quarter of 2024, the Company sold the SCFA. Refer to Note 14 for further information.
(3)Hedging instruments consists of the net position of the Cadia PPA which is comprised of $1 is in a liability position and the non-current portion of $95 is in an asset position. The current liability portion is included in Derivative liabilities within the fair value hierarchy table and the non-current asset portion is included in Derivative assets within the fair value hierarchy table.
DescriptionAt December 31, 2023Valuation techniqueSignificant inputRange, point estimate or average
Weighted Average Discount Rate
Derivative assets
Derivative assets not designated for hedging
$424 
Income approach
Discount rate
6.28% - 10.50%
9.03%
Contingent consideration assets
$211 
Income approach
Discount rate
8.04% - 26.43%
11.18%
Derivative liabilities
$5 
Income approach
Discount rate
4.91% - 6.15%
5.65%
The following tables set forth a summary of changes in the fair value of the Company’s recurring Level 3 financial assets and liabilities:
Derivative Assets (1)
Total Assets
Derivative Liabilities (2)
Total Liabilities
Fair value at December 31, 2022$188 $188 $3 $3 
Acquisitions
424 424 — — 
Revaluation gain (loss)
23 23 2 2 
Fair value at December 31, 2023635 635 5 5 
Settlements
(76)(76)— — 
Revaluation gain (loss)
(40)(40)1 1 
Sales (3)
(377)(377)— — 
Fair value at December 31, 2024$142 $142 $6 $6 
____________________________
(1)In 2024, the gain (loss) recognized on revaluation of derivative assets of $2, $(53), and $11 are included in Other income (loss), net, Other comprehensive income (loss), and Net income (loss) from discontinued operations, respectively. In 2023, the gain recognized on revaluation on derivative assets of $1 and $22 are included in Other income (loss), net and Net income (loss) from discontinued operations, respectively.
(2)In 2024, the loss recognized on revaluation of derivative liabilities of $1 is included in Other comprehensive income (loss). In 2023, the loss recognized on revaluation of derivative liabilities of $2 is included in Other income (loss), net.
(3)In the second quarter of 2024, the Company sold the SCFA resulting in a decrease of $281. In the third quarter of 2024, the Company sold the Batu and Elang Contingent consideration assets resulting in a decrease of $96. Refer to Note 14 for further information.
v3.25.0.1
DERIVATIVE INSTRUMENTS
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS DERIVATIVE INSTRUMENTS
At December 31,
20242023
Current derivative assets:
Derivative assets, not designated for hedging (1)
$— $115 
Contingent consideration assets (2)
— 76 
Hedging instruments— 7 
$— $198 
Non-current derivative assets:
Derivative assets, not designated for hedging (1)
$— $309 
Contingent consideration assets (2)
47 135 
Hedging instruments (1)
95 — 
$142 $444 
Current derivative liabilities: (3)
Contingent consideration liabilities
$2 $3 
Hedging instruments (1)
136 — 
$138 $3 
Non-current derivative liabilities: (4)
Contingent consideration liabilities$5 $5 
____________________________
(1)The SCFA and the Cadia PPA, acquired as part of the Newcrest transaction, were not designated in a hedging relationship at December 31, 2023. At January 1, 2024, the Company designated the Cadia PPA for hedge accounting, and as a result is included within Hedging instruments at December 31, 2024. Additionally, in the second quarter of 2024, the Company sold the SCFA. See below for further information.
(2)Contingent consideration assets at December 31, 2023 included the Batu Hijau and Elang contingent consideration assets, which were sold in the third quarter of 2024. Refer below for further information.
(3)Included in Other current liabilities.
(4)Included in Other non-current liabilities.
Derivative Assets, Not Designated for Hedging
Stream Credit Facility Agreement ("SCFA")
The SCFA was a non-revolving credit facility in relation to the Fruta del Norte mine, which is wholly owned and operated by Lundin Gold Inc. ("Lundin Gold") in which the Company holds a 32.0% equity interest (refer to Note 15 for further information). The SCFA was a financial instrument that met the definition of a derivative and was accounted for at fair value using a probability weighted discounted cash flow model, but was not designated for hedge accounting under ASC 815. The fair value of the SCFA was $276 at December 31, 2023, of which $113 was recognized in current Derivative assets and $163 was recognized in non-current Derivative assets in the Company's Consolidated Balance Sheets.
In the second quarter of 2024, the Company completed the sale of the SCFA and Offtake agreement in which Lundin Gold repurchased the SCFA and settled the rights under the Offtake agreement for cash consideration of $330, of which $180 and $150 were received in June 2024 and September 2024, respectively. Refer to Note 15 for further information on the Offtake agreement. The sale resulted in a gain of $49 recognized in Other income (loss), net.
Hedging Instruments
Hedging instruments consisted of the foreign currency cash flow hedges and the Cadia PPA at December 31, 2024.
To minimize credit risk, the Company only enters into transactions with counterparties that meet certain credit requirements and periodically reviews the creditworthiness of these counterparties. The Company believes that the risk of counterparty default is low and its exposure to credit risk is minimal.
Foreign currency cash flow hedges
In June 2024, the Company initiated hedge programs utilizing foreign currency fixed forward contracts to mitigate variability in the USD functional cash flows, to be incurred between October 2024 and December 2025, related to (i) the AUD-denominated capital expenditures incurred during the construction and development phase of the Tanami Expansion 2, Cadia Panel Caves, and the Cadia Tailings Project; (ii) the AUD-denominated operating expenditures at the Boddington, Tanami, and Cadia operating mines located in Australia; and (iii) the CAD-denominated operating expenditures at the Brucejack and Red Chris operating mines located in Canada. The capital expenditures hedged for the Tanami Expansion 2 project under these fixed forward contracts will be for spend not covered by the hedges entered into in October 2022, as described below. The fixed forward contracts were transacted for risk management purposes and designated as foreign currency cash flow hedges. At December 31, 2024, the Company entered into A$1,126, A$2,232, and C$602 relating to the AUD-denominated capital expenditure program, the AUD-denominated operating expenditure program, and the CAD-denominated operating expenditure program respectively. Subsequent to December 31, 2024 and prior to filing, the Company entered into an additional A$80, A$354, and C$82 relating to the programs, respectively.
In May 2023, the Company entered into C$348 of CAD-denominated and A$648 of AUD-denominated fixed forward contracts to mitigate variability in the USD functional cash flows related to the CAD-denominated and AUD-denominated operating expenditures incurred between June and December 2023 included in the Company's operating mines located in Canada and Australia, respectively. The fixed forward contracts were transacted for risk management purposes and designated as foreign currency cash flow hedges. As of December 31, 2023, the hedge programs were matured and no related amounts remain in Accumulated other comprehensive income (loss).
In October 2022, the Company entered into A$574 of AUD-denominated fixed forward contracts to mitigate variability in the USD functional cash flows related to the AUD-denominated capital expenditures expected to be incurred in 2023 and 2024 during the construction and development phase of the Tanami Expansion 2 project included in the Company's Tanami segment. The fixed forward contracts were transacted for risk management purposes. The Company has designated the fixed forward contracts as foreign currency cash flow hedges against the forecasted AUD-denominated Tanami Expansion 2 capital expenditures. As of December 31, 2024, the hedge program matured and a gain of $7 remains in Accumulated other comprehensive income (loss).
The unrealized changes in fair value have been recorded in Accumulated other comprehensive income (loss) and are reclassified to income during the period in which the hedged transaction affects earnings and is presented in the same income statement line item as the earnings effect of the hedged item. If the underlying hedge transaction becomes probable of not occurring, the related amounts will be reclassified to earnings immediately. For the foreign currency cash flow hedges related to capital expenditures, amounts recorded in Accumulated other comprehensive income (loss) are reclassified to earnings through Depreciation and amortization after the project reaches commercial production. For the foreign currency cash flow hedges related to operating expenditures, amounts recorded in Accumulated other comprehensive income (loss) are reclassified to earnings through Costs applicable to sales in the month that the operating expenditures are incurred.
Cadia Power Purchase Agreement ("Cadia PPA")
The Cadia PPA is a 15-year renewable power purchase agreement acquired by the Company through the Newcrest transaction. The Cadia PPA will provide the Company with access to large scale generation certificates which the Company intends to
surrender to achieve a reduction in its greenhouse gas emissions. The Cadia PPA is a financial instrument that meets the definition of a derivative under ASC 815 and is accounted for at fair value using a probability weighted discounted cash flow model. At January 1, 2024, the Company designated the Cadia PPA in a cash flow hedging relationship to mitigate the variability in cash flows related to approximately 40 percent of forecasted purchases of power at the Cadia mine for a 15 year period from the Cadia PPA's commercial operations date in the third quarter of 2024.
The unrealized changes in fair value have been recorded in Accumulated other comprehensive income (loss) and will be reclassified to income during the period in which the hedged transaction affects earnings and is presented in the same income statement line item as the earnings effect of the hedged item. If the underlying hedge transaction becomes probable of not occurring, the related amounts in Accumulated other comprehensive income (loss) will be reclassified to earnings immediately. For the Cadia PPA cash flow hedge, amounts recorded in Accumulated other comprehensive income (loss) will be reclassified to earnings through Costs applicable to sales each period in which electricity is purchased beginning the commercial operations date.
The following table provides the fair value of the Company’s derivative instruments designated as cash flow hedges:
At December 31,
20242023
Hedging instrument assets:
Cadia PPA cash flow hedge, non-current (1)(2)
$95 $— 
Foreign currency cash flow hedges, current (3)
— 7 
$95 $7 
Hedging instrument liabilities:
Foreign currency cash flow hedges, current (4)
$135 $— 
Cadia PPA cash flow hedge, current (2)(4)
1 — 
$136 $— 
____________________________
(1)Included in non-current Derivative assets in the Company’s Consolidated Balance Sheets.
(2)At January 1, 2024, the Company designated the Cadia PPA for hedge accounting. As a result, the Cadia PPA is captured in Derivative instruments, not designated for hedging at December 31, 2023. See above for further information.
(3)Included in Derivative assets in the Company’s Consolidated Balance Sheets.
(4)Included in Other current liabilities in the Company's Consolidated Balance Sheets.
The following table provides the losses (gains) recognized in earnings related to the Company's derivative instruments designated for hedging:
Year Ended December 31,
202420232022
Loss (gain) on cash flow hedges:
Interest rate contracts (1)
$10 $5 $6 
Foreign currency cash flow hedges (2)
7 19 — 
Cadia PPA cash flow hedge (3)
5 — — 
$22 $24 $6 
____________________________
(1)Interest rate contracts relate to swaps entered into, and subsequently settled, associated with the issuance of the 2022 Senior Notes, 2035 Senior Notes, 2039 Senior Notes, and 2042 Senior Notes. The related gains and losses are reclassified from Accumulated other comprehensive income (loss) and amortized to Interest expense, net of capitalized interest over the term of the respective hedged notes. During the year ended December 31, 2024, $6 was reclassified to Other income (loss), net as a result of the redemption and tender offers of the 2042 Senior Notes. Refer to Note 20 for additional information.
(2)As of December 31, 2024, approximately $95 is expected to be reclassified out of Accumulated other comprehensive income (loss) into earnings over the next 12 months.
(3)As of December 31, 2024, approximately $10 is expected to be reclassified out of Accumulated other comprehensive income (loss) into earnings over the next 12 months.
Contingent Consideration Assets and Liabilities
Contingent consideration assets and liabilities are comprised of contingent consideration to be received or paid by the Company in conjunction with various sales of assets and investments with future payment contingent upon meeting certain milestones. These contingent consideration assets and liabilities are accounted for at fair value and consist of financial instruments that meet the definition of a derivative, but are not designated for hedge accounting under ASC 815. Refer to Note 13 for further information regarding the fair value of the contingent consideration assets and liabilities.
The Company had the following contingent consideration assets and liabilities at December 31, 2024 and 2023:
At December 31,
20242023
Contingent Consideration Assets:
Red Lake (1)
$36 $39 
Batu Hijau and Elang (2)
— 161 
Other (1)
11 11 
$47 $211 
Contingent Consideration Liabilities: (3)
$7 $8 
____________________________
(1)Included in non-current Derivative assets.
(2)The Batu Hijau and Elang contingent consideration assets were sold in the third quarter of 2024. Refer below for further information. At December 31, 2023, $76 is included in current Derivative assets and $85 is included in non-current Derivative assets.
(3)At December 31, 2024, $2 and $5 is included in Other current liabilities and Other non-current liabilities, respectively. At December 31, 2023, $3 and $5 is included in Other current liabilities and Other non-current liabilities, respectively.
Batu Hijau and Elang Contingent Consideration Assets
The Batu Hijau and Elang contingent consideration assets relate to the sale of PT Newmont Nusa Tenggara in 2016. In the third quarter of 2024, the Company completed the sale of the Batu and Elang contingent consideration assets for cash consideration of $153. As a result of the sale, the Company recognized a tax benefit of $37 due to the release of the valuation allowance and a gain of $15, partially offset by a related tax impact of $3, recognized in Net income (loss) from discontinued operations.
v3.25.0.1
INVESTMENTS
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
INVESTMENTS INVESTMENTS
At December 31,
20242023
Current investments:
Marketable equity securities
$21 $23 
Non-current investments:
Marketable and other equity securities (1)
$309 $229 
Equity method investments (% ownership): 
Pueblo Viejo Mine (40.0%)
1,516 1,489 
NuevaUnión Project (50.0%)
961 959 
Lundin Gold Inc. (32.0%)
941 938 
Norte Abierto Project (50.0%)
532 528 
Greatland (20.4%) (2)
212 — 
4,162 3,914 
$4,471 $4,143 
Non-current restricted investments: (3)
Marketable debt securities$15 $21 
____________________________
(1)Includes $25 accounted for under the measurement alternative.
(2)Acquired through the Telfer Sale in the fourth quarter of 2024 and accounted for under the fair value option, refer to Note 3 for further information.
(3)Non-current restricted investments are legally pledged for purposes of settling reclamation and remediation obligations and are included in Other non-current assets. For further information regarding these amounts, refer to Note 6.
Equity Method Investments
Income (loss) from the Company's equity method investments is recognized in Equity income (loss) of affiliates, which primarily consists of income from Pueblo Viejo and Lundin Gold. Income (loss) from Pueblo Viejo consisted of $91, $63, and $102 for the years ended December 31, 2024, 2023, and 2022.
On November 6, 2023, as a part of the Newcrest transaction, the Company acquired 32.0% interest in Lundin Gold. The Company accounts for Lundin as an equity method investment on a quarter lag. Income (loss) from Lundin Gold consisted of $45 for the year ended December 31, 2024.
See below for further information on the Company's equity method investments.
Pueblo Viejo
The Pueblo Viejo mine is located in the Dominican Republic and commenced operations in September 2014. Barrick Gold Corporation ("Barrick") operates and holds the remaining interest in the mine. At acquisition, the fair value of Newmont’s equity investment in Pueblo Viejo was lower than the underlying net assets of its investment resulting in a basis difference, which is being amortized into Equity income (loss) of affiliates over the remaining estimated useful life of the mine. As of December 31, 2024 the net basis difference was $295.
In September 2019, the Company and Barrick entered into a $70 revolving loan facility (“Revolving Facility”) to provide short-term financing to Pueblo Viejo. The Company funded 40% of the borrowings based on its ownership interest in Pueblo Viejo. The Revolving Facility matured on December 31, 2024 and as such, there were no borrowings outstanding as of December 31, 2024. No borrowings were outstanding as of December 31, 2023.
In November 2020, the Company and Barrick entered into an agreement with Pueblo Viejo to provide funding of up to $1,300 ($520 attributable to Newmont's 40% ownership interest) through a loan facility for the expansion of Pueblo Viejo's operations (“Loan Facility”). Under the terms of the agreement, the Company and Barrick distributed funds based on their respective proportionate ownership interest in Pueblo Viejo. The Loan Facility bears interest at 95% of the 6-month SOFR plus 4.25% which is compounded semi-annually in arrears on February 28 and August 31 of each year. The Loan Facility was provided in two tranches of $800 and $500, respectively. Unused proceeds under the first tranche are available for use under the second tranche. The tranches mature February 28, 2032 and February 28, 2035, respectively.
In October 2024, the Company and Barrick entered into an agreement with Pueblo Viejo to provide additional funding of up to $800 ($320 attributable to Newmont's 40% ownership interest) through an additional loan facility to complete the expansion of Pueblo Viejo's operations (“Loan Facility II”). Under the terms of the agreement, the Company and Barrick will distribute funds based on their respective proportionate ownership interest in Pueblo Viejo. The Loan Facility II bears interest at the 6-month SOFR plus 3.81% which is compounded semi-annually in arrears on February 15 and August 15 of each year. The Loan Facility II matures February 15, 2039.
As of December 31, 2024 and December 31, 2023, the Company had outstanding stockholder loans to Pueblo Viejo of $486 and $429, which includes accrued interest of $19 and $14, respectively. All loans receivable and accrued interest are included in the Pueblo Viejo equity method investment balance.
The Company purchases its portion (40.0%) of gold and silver produced from Pueblo Viejo at market price and resells those ounces to third parties. Total payments made to Pueblo Viejo for gold and silver purchased were $580 and $448 for the years ended December 31, 2024 and December 31, 2023, respectively. These purchases, net of subsequent sales, were included in Other income (loss), net and the net amount is immaterial. There were no amounts due to or due from Pueblo Viejo for gold and silver purchases as of December 31, 2024 or December 31, 2023.
NuevaUnión
The NuevaUnión project is located in Chile and is currently in the Company’s development project pipeline. The project is jointly managed by Newmont and Teck Resources Limited, who holds the remaining 50% interest. At acquisition, the carrying value of Newmont’s equity investment in NuevaUnión was lower than the underlying net assets of its investment resulting in a basis difference. This basis difference will be amortized into Equity income (loss) of affiliates over the remaining estimated useful life of the mine beginning when commercial production is declared, which had not yet occurred as of December 31, 2024.
At December 31, 2024 the carrying value of Newmont’s equity investment in NuevaUnión was lower than the underlying net assets of its investment by $67. This basis difference will be amortized into Equity income (loss) of affiliates over the remaining estimated useful life of the mine beginning when commercial production is declared, which had not yet occurred as of December 31, 2024.
Lundin Gold Inc.
Lundin Gold is a Canadian based mine development and operating company which wholly owns and operates the Fruta del Norte gold mine in Ecuador. On November 6, 2023, as a part of the Newcrest transaction, the Company acquired 32.0% interest in Lundin Gold. The Company accounts for Lundin as an equity method investment on a quarter lag. At acquisition, the fair value of Newmont’s equity investment in Lundin Gold was higher than the underlying net assets of its investment resulting in a basis difference. This basis difference is being amortized into Equity income (loss) of affiliates over the remaining estimated useful life of the mine. As of December 31, 2024 the net basis difference was $588.
The Company had the right to purchase 50% of gold produced from Lundin Gold at a price determined based on delivery dates and a defined quotational period and resold the ounces purchased to third parties under an offtake agreement acquired through the Newcrest transaction (the "Offtake agreement"). In the second quarter of 2024, the Company completed the sale of the SCFA and Offtake agreement in which Lundin Gold repurchased the SCFA and settled the rights under the Offtake agreement. Refer to Note 14 for further information.
Total payments made to Lundin Gold under the Offtake agreement for gold purchased were $189 and $30 for the years ended December 31, 2024 and December 31, 2023, respectively. These purchases, net of subsequent sales, were included in Other income (loss), net and the net amount is immaterial. There was $— and $13 payable due to Lundin Gold for gold purchases as of December 31, 2024 and December 31, 2023, respectively. At December 31, 2024, the calculated fair value, based on quoted closing prices of publicly traded shares, of the Company's investment in Lundin Gold was $1,638.
Norte Abierto
The Norte Abierto project is located in Chile and is currently in the Company’s development project pipeline. The project is jointly managed by Newmont and Barrick, who holds the remaining 50.0% interest. Prior to December 2023, Newmont owed deferred payments to Barrick to be satisfied through funding a portion of Barrick’s share of Norte Abierto project expenditures.
In December 2023, the Company entered into an agreement with Barrick and subsequently settled the deferred payments. Immediately prior to settlement, there were $23 and $73 related to these deferred payments included in Other current liabilities and Other non-current liabilities on the Consolidated Balance Sheet, respectively. Per the terms of the agreement, the settlement occurred through a cash payment of approximately $60 and funding of prefeasibility study costs for the Norte Abierto project. The Company has agreed to fund both its and Barrick's portions of prefeasibility study costs, up to a total of $60, to occur in the near future. If prefeasibility costs exceed the agreed upon $60, the costs will be paid proportionately by the Company and Barrick. The $30 related to the prefeasibility study costs associated with Barrick's portion will be satisfied as funding occurs. At December 31, 2024 and 2023, $20 and $20 is recognized within Other current liabilities, respectively, and $3 and $10 within Other non-current liabilities, respectively.
At December 31, 2024 the carrying value of Newmont’s equity investment in Norte Abierto was lower than the underlying net assets of its investment by $209. This basis difference will be amortized into Equity income (loss) of affiliates over the remaining estimated useful life of the mine beginning when commercial production is declared, which had not yet occurred as of December 31, 2024.
Greatland
Greatland Gold plc ("Greatland") is an Australian based mine development and exploration company which acquired the Company's assets held in the Telfer reportable segment in December 2024. Refer to Note 3 for further information on the Telfer Sale. Pursuant to the terms of the sale, the Company acquired a 20.4% interest in Greatland resulting in 2.7 billion shares. The Company accounts for its investment in Greatland as an equity method investment, included in Investments, for which the Company elected the fair value option as it believes it best reflects the economics of the underlying transaction.
The equity held in Greatland contains an option in which a third party has the ability to acquire 1.3 billion of the Company's Greatland shares at a set price exercisable for four years (the "Greatland Option"). The Greatland Option does not meet the definition of a derivative and is considered to be a financial liability, for which the Company has elected the fair value option. The Company believes the fair value option best reflects the economics of the underlying transaction. The Greatland Option is included in Other non-current liabilities at a fair value of $51 at December 31, 2024.
Under the fair value option, changes in the fair value of the instrument are recognized through earnings each reporting period in Other income (loss), net. For the year ended December 31, 2024, a loss of $29 and a gain of $16 were recognized in Other income (loss), net related to the Greatland equity method investment and Greatland Option, respectively.
v3.25.0.1
INVENTORIES
 12 Months Ended
Dec. 31, 2024
Inventory Disclosure [Abstract]  
INVENTORIES INVENTORIES
At December 31,
20242023
Materials and supplies$1,081 $1,247 
In-process118 160 
Concentrate148 134 
Precious metals76 122 
Inventories (1)
$1,423 $1,663 
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for held for sale. As a result, at December 31, 2024 the related assets, including Inventories of $185, were reclassified to Assets held for sale. Refer to Note 3 for additional information.
The Company recorded write-downs classified as components of Costs applicable to sales and Depreciation and amortization to reduce the carrying value of inventories to net realizable value as follows:
Year Ended December 31,
2024 (1)
2023 (2)
2022 (3)
Costs applicable to sales
$44 $37 $6 
Depreciation and amortization
5 15 2 
$49 $52 $8 
____________________________
(1)For the year ended December 31, 2024, $34 was related to Telfer, $10 to Cerro Negro, $3 to Brucejack, $1 to Peñasquito, and $1 to NGM.
(2)For the year ended December 31, 2023, $35 was related to Peñasquito, $5 to Éléonore, $4 to Porcupine, $3 to Cerro Negro, $3 to Brucejack, and $2 to Telfer.
(3)For the year ended December 31, 2022, write-downs were immaterial at various sites.
STOCKPILES AND ORE ON LEACH PADS
At December 31, 2024 (1)
At December 31, 2023
StockpilesOre on Leach PadsTotalStockpilesOre on Leach PadsTotal
Current$624 $137 $761 $746 $233 $979 
Non-current2,072 194 2,266 1,532 403 1,935 
Total$2,696 $331 $3,027 $2,278 $636 $2,914 
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for held for sale. As a result, at December 31, 2024 the related assets, including Stockpiles and ore on leach pads of $374, were reclassified to Assets held for sale. Refer to Note 3 for additional information.
The Company recorded write-downs classified as components of Costs applicable to sales and Depreciation and amortization to reduce the carrying value of stockpiles and ore on leach pads to net realizable value as follows:
Year Ended December 31,
2024 (1)
2023 (2)
2022 (3)
Costs applicable to sales
$48 $60 $156 
Depreciation and amortization
16 15 53 
$64 $75 $209 
____________________________
(1)For the year ended December 31, 2024, $37 was related to Red Chris, $26 to NGM, and $1 to Cerro Negro.
(2)For the year ended December 31, 2023, $52 was related to NGM, $11 to Peñasquito, $6 to Yanacocha, $2 to Akyem, $2 to Éléonore, and $2 to Telfer.
(3)For the year ended December 31, 2022, $71 was related to NGM, $49 to Yanacocha, $45 to CC&V, $28 to Akyem, $12 to Ahafo, and $4 to Merian.
v3.25.0.1
STOCKPILES AND ORE ON LEACH PADS
 12 Months Ended
Dec. 31, 2024
STOCKPILES AND ORE ON LEACH PADS  
STOCKPILES AND ORE ON LEACH PADS INVENTORIES
At December 31,
20242023
Materials and supplies$1,081 $1,247 
In-process118 160 
Concentrate148 134 
Precious metals76 122 
Inventories (1)
$1,423 $1,663 
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for held for sale. As a result, at December 31, 2024 the related assets, including Inventories of $185, were reclassified to Assets held for sale. Refer to Note 3 for additional information.
The Company recorded write-downs classified as components of Costs applicable to sales and Depreciation and amortization to reduce the carrying value of inventories to net realizable value as follows:
Year Ended December 31,
2024 (1)
2023 (2)
2022 (3)
Costs applicable to sales
$44 $37 $6 
Depreciation and amortization
5 15 2 
$49 $52 $8 
____________________________
(1)For the year ended December 31, 2024, $34 was related to Telfer, $10 to Cerro Negro, $3 to Brucejack, $1 to Peñasquito, and $1 to NGM.
(2)For the year ended December 31, 2023, $35 was related to Peñasquito, $5 to Éléonore, $4 to Porcupine, $3 to Cerro Negro, $3 to Brucejack, and $2 to Telfer.
(3)For the year ended December 31, 2022, write-downs were immaterial at various sites.
STOCKPILES AND ORE ON LEACH PADS
At December 31, 2024 (1)
At December 31, 2023
StockpilesOre on Leach PadsTotalStockpilesOre on Leach PadsTotal
Current$624 $137 $761 $746 $233 $979 
Non-current2,072 194 2,266 1,532 403 1,935 
Total$2,696 $331 $3,027 $2,278 $636 $2,914 
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for held for sale. As a result, at December 31, 2024 the related assets, including Stockpiles and ore on leach pads of $374, were reclassified to Assets held for sale. Refer to Note 3 for additional information.
The Company recorded write-downs classified as components of Costs applicable to sales and Depreciation and amortization to reduce the carrying value of stockpiles and ore on leach pads to net realizable value as follows:
Year Ended December 31,
2024 (1)
2023 (2)
2022 (3)
Costs applicable to sales
$48 $60 $156 
Depreciation and amortization
16 15 53 
$64 $75 $209 
____________________________
(1)For the year ended December 31, 2024, $37 was related to Red Chris, $26 to NGM, and $1 to Cerro Negro.
(2)For the year ended December 31, 2023, $52 was related to NGM, $11 to Peñasquito, $6 to Yanacocha, $2 to Akyem, $2 to Éléonore, and $2 to Telfer.
(3)For the year ended December 31, 2022, $71 was related to NGM, $49 to Yanacocha, $45 to CC&V, $28 to Akyem, $12 to Ahafo, and $4 to Merian.
v3.25.0.1
PROPERTY, PLANT AND MINE DEVELOPMENT
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND MINE DEVELOPMENT PROPERTY, PLANT AND MINE DEVELOPMENT
Depreciable Life
(in years)
At December 31, 2024At December 31, 2023
CostAccumulated
Depreciation
Net Book
Value (1)
CostAccumulated
Depreciation		Net Book
Value
Land $253 $— $253 $347 $— $347 
Facilities and equipment (2)
1-26
23,362 (11,761)11,601 25,804 (12,925)12,879 
Mine development 
1-26
6,562 (3,533)3,029 7,223 (3,775)3,448 
Mineral interests 
1-26
17,050 (3,569)13,481 19,450 (3,360)16,090 
Construction-in-progress 5,183 — 5,183 4,799 — 4,799 
$52,410 $(18,863)$33,547 $57,623 $(20,060)$37,563 
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for held for sale. As a result, at December 31, 2024 the related assets, including Property, plant and mine development of $4,439, were reclassified to Assets held for sale. Refer to Note 3 for additional information.
(2)At December 31, 2024 and 2023, Facilities and equipment includes finance lease right of use assets of $482 and $531, respectively.
Depreciable Life
(in years)
At December 31, 2024At December 31, 2023
Mineral InterestsCostAccumulated
Depreciation
Net Book
Value (1)
CostAccumulated
Depreciation		Net Book
Value
Production stage 
1-26
$12,191 $(3,569)$8,622 $13,155 $(3,360)$9,795 
Development stage 
(2)
1,386 — 1,386 1,277 — 1,277 
Exploration stage 
(2)
3,473 — 3,473 5,018 — 5,018 
$17,050 $(3,569)$13,481 $19,450 $(3,360)$16,090 
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for held for sale. As a result, at December 31, 2024 the related assets, including $1,885 of mineral interests included in Property, plant and mine development, were reclassified to Assets held for sale. Refer to Note 3 for additional information.
(2)These amounts are currently non-depreciable as these mineral interests have not reached production stage.
v3.25.0.1
GOODWILL
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL GOODWILL
Changes in the carrying amount of goodwill by reportable segment were as follows:
Balance at December 31, 2022
Impairment (1)
Acquisitions (2)
Balance at December 31, 2023
Acquisitions (2)
Balance at December 31, 2024
Musselwhite$293 $(293)$— $— $— $— 
Éléonore246 (246)— — — — 
Brucejack
— — 1,087 1,087 (418)669 
Red Chris
— — 397 397 142 539 
Peñasquito (3)
1,164 (1,210)— — — — 
Cadia
— — 565 565 (316)249 
Lihir
— — 695 695 249 944 
NGM268 (11)— 257 — 257 
$1,971 $(1,760)$2,744 $3,001 $(343)$2,658 
____________________________
(1)Accumulated impairment of $2,560 consists of impairment charges incurred in 2022 and 2023 of $800, and $1,760 respectively.
(2)Amounts relate to goodwill recognized through the Newcrest transaction on November 6, 2023. During 2024, goodwill was subject to measurement period adjustments to the purchase price allocation. Refer to Note 3 for further information.
(3)For the year ended December 31, 2023, the Company recognized a prior period adjustment of $46 to goodwill and deferred tax liability for Peñasquito relating to a prior acquisition. This adjustment resulted in an increase to goodwill, which was fully offset by the impairment charge incurred in 2023.
v3.25.0.1
DEBT
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
DEBT DEBT
At December 31, 2024At December 31, 2023
CurrentNon-Current
Fair Value (1)
CurrentNon-Current
Fair Value (1)
$2,000 Bilateral Bank Facilities due 2024 and 2026 (2)
$— $— $— $1,923 $— $1,927 
$1,000 5.30% Senior Notes due March 2026 (3)
924 — 948 — — — 
$700 2.80% Senior Notes due October 2029
— 633 587 — 693 645 
$650 3.25% Senior Notes due May 2030
— 554 583 — 557 597 
$1,000 2.25% Senior Notes due October 2030
— 872 765 — 989 872 
$1,000 2.60% Senior Notes due July 2032
— 821 713 — 992 868 
$1,000 5.35% Senior Notes due March 2034
— 987 1,012 — — — 
$600 5.875% Senior Notes due April 2035
— 581 625 — 580 654 
$1,100 5.875% Senior Notes due October 2039
— 861 934 — 861 986 
$500 5.75% Senior Notes due November 2041
— 457 500 — 456 535 
$1,000 4.875% Senior Notes due March 2042
— 949 891 — 986 991 
$450 5.45% Senior Notes due June 2044
— 479 435 — 480 462 
$500 4.20% Senior Notes due May 2050
— 363 407 — 361 438 
Debt issuance costs on Corporate Revolving Credit Facilities
— (5)— — (4)— 
$924 $7,552 $8,400 $1,923 $6,951 $8,975 
____________________________
(1)The estimated fair value of the Senior Notes was determined by an independent third-party pricing source and may or may not reflect the actual trading value of this debt. Carrying value of the bilateral bank facilities approximates fair value.
(2)Interest rates on the bilateral bank facilities are variable. Refer to "Corporate Revolving Credit Facilities and Letters of Credit Facilities" below for further information.
(3)The Company fully redeemed all of the outstanding 2026 Senior Notes in February 2025. Refer below for further information.
All outstanding Senior Notes are unsecured and rank equally with one another.
Maturities for the next five years, and thereafter, are as follows:
Year Ending December 31,
2025 (1)
$928 
2026— 
2027— 
2028— 
2029638 
Thereafter7,225 
Total face value of debt8,791 
Unamortized premiums, discounts, and issuance costs(315)
Debt$8,476 
____________________________
(1)The Company fully redeemed all of the outstanding 2026 Senior Notes in February 2025. Refer below for further information.
Corporate Revolving Credit Facilities and Letters of Credit Facilities
In connection with the Newcrest transaction on November 6, 2023, the Company acquired bilateral bank debt facilities held with 13 banks. The bilateral bank debt facilities had a total borrowing capacity of $2,000, of which $1,923 was outstanding at December 31, 2023, and $462 due February 7, 2024, $769 due March 1, 2024, and $692 due March 1, 2026. On February 7, 2024, the Company repaid $462 of the amount outstanding.
On February 15, 2024, the Company completed an amendment and restatement of its existing $3,000 revolving credit agreement dated as of April 4, 2019 (the “Existing Credit Agreement”). The Existing Credit Agreement was entered into with a syndicate of financial institutions and provided for borrowings in U.S. dollars and contained a letter of credit sub-facility. Per the amendment, the expiration date of the credit facility was extended from March 30, 2026 to February 15, 2029 and the borrowing capacity was increased to $4,000. Interest is based on Term SOFR plus a credit spread adjustment and margin. Facility fees vary based on the credit ratings of the Company’s senior, uncollateralized, non-current debt. Debt covenants under the amendment are substantially the same as the Existing Credit Agreement.
On February 20, 2024, the Company completed a drawdown on the $4,000 revolving credit agreement and used the proceeds to repay the remaining $1,461 owed on the remaining bilateral bank debt facilities.
At December 31, 2024, the Company had no borrowings outstanding under the facility. There were no amounts outstanding on the letters of credit sub-facility at December 31, 2024 and 2023, respectively.
At December 31, 2024 and 2023 the Company had letters of credit outstanding in the amounts of $1,034 and $1,158, respectively, of which $900 and $1,015 represented guarantees for reclamation obligations, respectively. None of these letters of credit have been drawn on for reclamation obligations as of December 31, 2024 and 2023.
Debt Extinguishment
In 2024, the Company partially redeemed certain Senior Notes resulting in a gain on extinguishment of $38 recognized in Other income (loss), net for the year ended December 31, 2024. The gain includes the write-off of unamortized premiums, discounts, and issuance costs of $8 related to the partially redeemed Senior Notes. The following table summarizes the partial redemptions:
Settled Notional Amount
Total Repurchase Amount (1)
$1,000 5.30% Senior Notes due March 2026
$72 $74 
$700 2.80% Senior Notes due October 2029
62 58 
$650 3.25% Senior Notes due May 2030
17 16 
$1,000 2.25% Senior Notes due October 2030
120 107 
$1,000 2.60% Senior Notes due July 2032
174 150 
$1,000 4.875% Senior Notes due March 2042 (2)
38 36 
$483 $441 
____________________________
(1)Includes $4 of accrued interest.
(2)As a result of the partial redemption, the Company accelerated a loss of $6 from Accumulated other comprehensive income (loss) to Other income (loss), net for the year ended December 31, 2024 related to previously terminated interest rate swaps.
2026 and 2034 Senior Notes
On March 7, 2024, the Company issued $2,000 unsecured Senior Notes comprised of $1,000 due March 15, 2026 (“2026 Senior Notes”) and $1,000 due March 15, 2034 ("2034 Senior Notes"). Net proceeds from the 2026 and 2034 Senior Notes were $1,980. Interest will be paid semi-annually at a rate of 5.30% and 5.35% per annum for the 2026 and the 2034 Senior Notes, respectively. The proceeds from this issuance were used to repay the drawdown on the revolving credit facility resulting in no amounts outstanding on the revolving credit facility as of December 31, 2024.
In February 2025, the Company fully redeemed all of the outstanding 2026 Senior Notes for a redemption price of $957. The redemption price equaled the principal amount of the outstanding 2026 Senior Notes of $928 plus accrued and unpaid interest of $19 in accordance with the terms of the 2026 Notes, and a make-whole provision of $10.
May 2030 Senior Notes, November 2041 Senior Notes, and May 2050 Senior Notes
Subsequent to implementation of the Newcrest transaction, the Company completed a like-for-like exchange for any and all of the outstanding notes issued by Newcrest Finance Pty Ltd, a wholly owned subsidiary of Newmont ("Newcrest Finance"), with an aggregate principal amount of $1,650, for new notes issued by Newmont and Newcrest Finance and nominal cash consideration. The new notes, issued December 26, 2023, and the existing Newcrest notes that were not tendered for exchange, consist of $625 and $25 of 3.25% notes due May 13, 2030 (the "May 2030 Senior Notes" and the "2030 Newcrest Senior Notes", respectively), $460 and $40 of 5.75% notes due November 15, 2041 (the "November 2041 Senior Notes" and the "2041 Newcrest Senior Notes", respectively), and $486 and $14 of 4.20% notes due May 13, 2050, respectively (the "May 2050 Senior Notes" and the "2050 Newcrest Senior Notes", respectively).
Debt Covenants
The Company’s senior notes and revolving credit facility contain various covenants and default provisions including payment defaults, limitation on liens, leases, sales and leaseback agreements and merger restrictions. Furthermore, the Company’s senior notes and corporate revolving credit facility contain covenants that include, limiting the sale of all or substantially all of the Company’s assets, certain change of control provisions and a negative pledge on certain assets.
The corporate revolving credit facility contains a financial ratio covenant requiring the Company to maintain a net debt (total debt net of cash and cash equivalents) to total capitalization ratio of less than or equal to 62.50% in addition to the covenants noted above.
At December 31, 2024, the Company was in compliance with all existing debt covenants and provisions related to potential defaults, other than the bilateral facilities which have been repaid as of the date of this report.
v3.25.0.1
LEASE AND OTHER FINANCING OBLIGATIONS
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
LEASE AND OTHER FINANCING OBLIGATIONS LEASE AND OTHER FINANCING OBLIGATIONS
The Company primarily has operating and finance leases for corporate and regional offices, mining equipment, power generation, and transportation. These leases have a remaining lease term of less than 1 year to 33 years, some of which may include options to extend the lease for up to 15 years, and some of which may include options to terminate the lease within 1 year. Some of the Company's leases include payments that vary based on the Company’s level of usage and operations. These variable payments are
not included within right-of-use ("ROU") assets and lease liabilities in the Consolidated Balance Sheets. Additionally, short-term leases, which have an initial term of 12 months or less, are not recorded in the Consolidated Balance Sheets.
Total lease cost includes the following components:
Year Ended December 31,
20242023
Operating lease cost$27 $23 
Finance lease cost:
Amortization of ROU assets91 78 
Interest on lease liabilities35 32 
126 110 
Variable lease cost509 298 
Short-term lease cost76 24 
$738 $455 
Supplemental cash flow information related to leases includes the following:
Year Ended December 31,
20242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows relating to operating leases$20 $23 
Operating cash flows relating to finance leases$34 $33 
Financing cash flows relating to finance leases$87 $67 
Non-cash lease obligations arising from obtaining ROU assets:(1)
Operating leases$10 $23 
Finance leases$59 $53 
____________________________
(1)For the year ended December 31, 2023, operating and finance lease obligations assumed in relation to the Newcrest transaction were $13 and $51, respectively.
Information related to lease terms and discount rates is as follows:
Operating LeasesFinance Leases
Weighted average remaining lease term (years)88
Weighted average discount rate4.35 %6.36 %
Future minimum lease payments under non-cancellable leases as of December 31, 2024, were as follows:
Operating
Leases (1)
Finance Leases
2025$20 $116 
202614 96 
202713 77 
202811 71 
202910 46 
Thereafter31 252 
Total future minimum lease payments99 658 
Less: Imputed interest(12)(162)
Total$87 $496 
____________________________
(1)The current and non-current portion of operating lease liabilities are included in Other current liabilities and Other non-current liabilities, respectively, on the Consolidated Balance Sheets.
As of December 31, 2024, the Company has additional leases that have not yet commenced. At commencement, the Company anticipates that these leases will result in additional ROU assets and lease liabilities of $3. The leases are anticipated to commence in 2025 with a lease term of approximately 2 years.
v3.25.0.1
OTHER LIABILITIES
 12 Months Ended
Dec. 31, 2024
Other Liabilities Disclosure [Abstract]  
OTHER LIABILITIES OTHER LIABILITIES
At December 31,
20242023
Other current liabilities:
Reclamation and remediation liabilities$991 $619 
Accrued operating costs (1)
468 473 
Accrued capital expenditures208 320 
Accrued royalties
165 137 
Hedging instruments (2)
136 — 
Payables to NGM (3)
115 91 
Silver streaming agreement76 87 
Stamp duty on Newcrest transaction (4)
29 316 
Other (5)
293 319 
$2,481 $2,362 
Other non-current liabilities:
Income and mining taxes (6)
$125 $177 
Greatland Option (7)
51 — 
Other (8)
112 139 
$288 $316 
____________________________
(1)Includes an estimated compensation payment to the Worsley JV related to the waiver of certain rights within the cross-operation agreement that confers priority to the bauxite operations at the Boddington mine.
(2)Refer to Note 14 for additional information.
(3)Payables to NGM at December 31, 2024 and December 31, 2023 consist of amounts due to (from) NGM representing Barrick's 61.5% proportionate share of the amount owed to NGM for gold and silver purchased by Newmont. Newmont’s 38.5% share of such amounts is eliminated upon proportionate consolidation of its interest in NGM. Receivables for Newmont's 38.5% proportionate share related to NGM's activities with Barrick are presented within Other current assets.
(4)Incurred as a result of the Newcrest transaction. Refer to Note 8 for further information. Payment of $291 occurred in the first quarter of 2024.
(5)Primarily consists of accrued interest on debt and taxes other than income and mining taxes.
(6)Primarily consists of unrecognized tax benefits, including penalties and interest.
(7)Acquired through the Telfer Sale in the fourth quarter of 2024 and accounted for under the fair value option. Refer to Notes 3 and 15 for further information.
(8)Primarily consists of the non-current portion of operating lease liabilities.
v3.25.0.1
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)​
 12 Months Ended
Dec. 31, 2024
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)​ ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Unrealized Gain (Loss) on Hedge Instruments
Pension and Other Post-retirement Benefit Adjustments
Other Adjustments
Total
Balance at December 31, 2022$(69)$(27)$125 $29 
Net current-period other comprehensive income (loss):
Gain (loss) in other comprehensive income (loss) before reclassifications(19)(9)(5)(33)
(Gain) loss reclassified from accumulated other comprehensive income (loss)18 — — 18 
Other comprehensive income (loss)(1)(9)(5)(15)
Balance at December 31, 2023(70)(36)120 14 
Net current-period other comprehensive income (loss):
Gain (loss) in other comprehensive income (loss) before reclassifications(140)8 5 (127)
(Gain) loss reclassified from accumulated other comprehensive income (loss)17 — 1 18 
Other comprehensive income (loss)(123)8 6 (109)
Balance at December 31, 2024$(193)$(28)$126 $(95)
Details about Accumulated Other Comprehensive Income (Loss) ComponentsAmount Reclassified from Accumulated Other Comprehensive Income (Loss)Affected Line Item in the Consolidated Statements of Operations
Year Ended December 31,
202420232022
Hedge instruments adjustments:
Interest rate contracts$10 $5 $6 
Interest expense, net of capitalized interest
Foreign currency cash flow hedges7 19 — 
Costs applicable to sales
Amortization
5 — — 
Costs applicable to sales
Total before tax22 24 6 
Tax(5)(6)(1)
Net of tax$17 $18 $5 
Pension and other post-retirement benefit adjustments:
Settlement$1 $9 $137 Other income (loss), net
Amortization(1)(9)(1)Other income (loss), net
Total before tax— — 136 
Tax— — (29)
Net of tax$— $— $107 
Other adjustments:
Sale of marketable securities$1 $— $— Other income (loss), net
Total before tax1 — — 
Tax— — — 
Net of tax$1 $— $— 
Total reclassifications for the period, net of tax$18 $18 $112 
v3.25.0.1
NET CHANGE IN OPERATING ASSETS AND LIABILITIES
 12 Months Ended
Dec. 31, 2024
Increase (Decrease) in Operating Capital [Abstract]  
NET CHANGE IN OPERATING ASSETS AND LIABILITIES NET CHANGE IN OPERATING ASSETS AND LIABILITIES
Net cash provided by (used in) operating activities of continuing operations attributable to the net change in operating assets and liabilities is composed of the following:
Year Ended December 31,
2024 (1)
20232022
Decrease (increase) in operating assets:
Trade and other receivables $(441)$(240)$5 
Inventories, stockpiles and ore on leach pads (534)(187)(161)
Other assets 64 50 (84)
Increase (decrease) in operating liabilities:
Accounts payable(2)(42)102 
Reclamation and remediation liabilities (433)(275)(247)
Accrued tax liabilities235 (197)(343)
Other accrued liabilities (2)
86 378 (113)
$(1,025)$(513)$(841)
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for assets held for sale. As a result, the related assets and liabilities were reclassified to Assets held for sale and Liabilities held for sale, respectively. Amounts herein reflect the net change in the related operating assets and liabilities prior to being reclassified as held for sale. Refer to Note 3 for additional information.
(2)Primarily consists of payment of $291 made in the first quarter of 2024 for stamp duty tax largely accrued in the fourth quarter of 2023 in connection with the Newcrest transaction.
v3.25.0.1
COMMITMENTS AND CONTINGENCIES
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
General
Estimated losses from contingencies are accrued by a charge to income when information available prior to issuance of the financial statements indicates that it is probable that a liability could be incurred and the amount of the loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. If a loss contingency is not probable or
reasonably estimable, disclosure of the contingency and estimated range of loss, if determinable, is made in the financial statements when it is at least reasonably possible that a material loss could be incurred.
Operating Segments
The Company’s operating and reportable segments are identified in Note 4. Except as noted in this paragraph, all of the Company’s commitments and contingencies specifically described herein are included in the non-operating segment Corporate and Other. The Yanacocha matters relate to the Yanacocha reportable segment. The CC&V matter relates to the CC&V reportable segment. The Goldcorp Canada matters relates to the Porcupine reportable segment. The Cadia matter relates to the Cadia reportable segment. The Newmont Ghana Gold and Newmont Golden Ridge matters relate to the Ahafo and Akyem reportable segments, respectively.
Environmental Matters
Refer to Note 6 for further information regarding reclamation and remediation. Details about certain significant matters are discussed below.
Minera Yanacocha S.R.L. - 100% Newmont Owned
In early 2015 and again in June 2017, the Peruvian government agency responsible for certain environmental regulations, MINAM, issued proposed modifications to water quality criteria for designated beneficial uses which apply to mining companies, including Yanacocha. These criteria modified the in-stream water quality criteria pursuant to which Yanacocha has been designing water treatment processes and infrastructure. In December 2015, MINAM issued the final regulation that modified the water quality standards. These Peruvian regulations allow time to formulate a compliance plan and make any necessary changes to achieve compliance.
In February 2017, Yanacocha submitted a modification to its previously approved compliance achievement plan to the MINEM. In May 2022, Yanacocha submitted a proposed modification to this plan requesting an extension of time for coming into full compliance with the new regulations to 2027. In June 2023, Yanacocha received approval of its updated compliance plan from MINEM and was granted an extension to June 2026 to achieve compliance. The Company appealed this approval to the Mining Council requesting the regulatory extension until 2027, and in April 2024, MINEM approved the compliance schedule.
The Company currently operates five water treatment plants at Yanacocha that have been and currently meet all currently applicable water discharge requirements. The Company is conducting detailed studies to better estimate water management and other closure activities that will ensure water quality and quantity discharge requirements, including the modifications promulgated by MINAM, as referenced above, will be met. This also includes performing a comprehensive update to the Yanacocha reclamation plan to address changes in closure activities and estimated closure costs while preserving optionality for potential future projects at Yanacocha. These ongoing studies, which will extend beyond the current year, continue to evaluate and revise assumptions and estimated costs of changes to the reclamation plan. While certain estimated costs remain subject to revision, the Company’s current asset retirement obligation includes plans for the construction and post-closure management of two new water treatment plants and initial consideration of known risks (including the associated risk that these water treatment estimates could change in the future as more work is completed). The ultimate construction costs of the two water treatment plants remain uncertain as ongoing study work and assessment of opportunities that incorporates the latest design considerations remain in progress. These and other additional risks and contingencies that are the subject of ongoing studies, including, but not limited to, a comprehensive review of the Company's tailings storage facility management, review of Yanacocha’s water balance and storm water management system, and review of post-closure management costs, could result in future material increases to the reclamation obligation at Yanacocha.
Cripple Creek & Victor Gold Mining Company LLC - 100% Newmont Owned
In December 2021, Cripple Creek & Victor Gold Mining Company LLC (“CC&V”, a wholly-owned subsidiary of the Company) entered into a Settlement Agreement (“Settlement Agreement”) with the Water Quality Control Division of the Colorado Department of Public Health and Environment (the “Division”) with a mutual objective of resolving issues associated with the new discharge permits issued by the Division in January 2021 for the Carlton Tunnel. The Carlton Tunnel was a historic tunnel completed in 1941 with the purpose of draining the southern portion of the mining district, subsequently consolidated by CC&V. CC&V has held discharge permits for the Carlton Tunnel since 1983, primarily to focus on monitoring, with the monitoring data accumulated since the mid-1970s indicating consistency in the water quality discharged from the Carlton Tunnel over time. In 2006, legal proceedings and work with the regulator confirmed that the water flowing out of the Carlton Tunnel portal is akin to natural spring water and did not constitute mine drainage. However, this changed with the January 2021 permit updates, when the regulator imposed new water quality limits. The Settlement Agreement involves the evaluation of a reasonable and achievable timeline for treatment and permit compliance, acknowledging the lack of readily available technology, and the need to spend three years to study and select the technological solution, with three additional years to construct, bringing full permit compliance to the November 2027 timeframe. In 2022, the Company studied various interim passive water treatment options, reported the study results to the Division, and based on an evaluation of additional semi-passive options that involve the usage of power at the portal, updated the remediation liability to $20 in 2022. CC&V continues to study alternative long-term remediation plans for water discharged from the Carlton Tunnel, and is also working with regulators on the Discharger Specific Variance ("DSV") to identify highest feasible alternative treatment in the context, based on limits such as area topography. CC&V formally submitted its proposal for the DSV and the matter will be presented to the
Water Quality Control Commission for June 2025 rulemaking hearing. Depending on the outcome of the hearing and the plans that may ultimately be agreed with the Division, a material adjustment to the remediation liability may be required.
In July 2024, CC&V received a notice from the Colorado Division of Reclamation Mining and Safety ("DRMS") citing it has reason to believe a violation existed with respect to reporting of monitoring data for mine impacted water at the mine’s East Cresson Overburden Storage Area ("ECOSA"). The Company and the DRMS reached a favorable Stipulated Agreement, which was submitted to the Mined Land Reclamation Board during the fourth quarter of 2024 and incorporated into an order of the Board.
Dawn Mining Company LLC (“Dawn”) - 58.19% Newmont Owned
Midnite mine site and Dawn mill site. Dawn previously leased an open pit uranium mine, currently inactive, on the Spokane Indian Reservation in the State of Washington. The mine site is subject to regulation by agencies of the U.S. Department of Interior (the Bureau of Indian Affairs and the Bureau of Land Management), as well as the EPA.
As per the Consent Decree approved by the U.S. District Court for the Eastern District of Washington on January 17, 2012, the following actions were required of Newmont, Dawn, the Department of the Interior and the EPA: (i) Newmont and Dawn would design, construct and implement the cleanup plan selected by the EPA in 2006 for the Midnite mine site; (ii) Newmont and Dawn would reimburse the EPA for its past costs associated with overseeing the work; (iii) the Department of the Interior would contribute a lump sum amount toward past EPA costs and future costs related to the cleanup of the Midnite mine site; (iv) Newmont and Dawn would be responsible for all future EPA oversight costs and Midnite mine site cleanup costs; and (v) Newmont would post a surety bond for work at the site.
During 2012, the Department of Interior contributed its share of past EPA costs and future costs related to the cleanup of the Midnite mine site. In 2016, Newmont completed the remedial design process, with the exception of the new WTP design which was awaiting the approval of the new NPDES permit. Subsequently, the new NPDES permit was received in 2017 and the WTP design commenced in 2018. The EPA approved the WTP design in 2021. Construction of the effluent pipeline began in 2021, and construction of the new WTP began in 2022. The WTP is projected to be completed in the first quarter of 2025. Forest fires and droughts in the Pacific Northwest delayed the completion of the effluent pipeline until early 2025.
The Dawn mill site is regulated by the Washington Department of Health (the "WDOH") and is in the process of being closed in accordance with the federal Uranium Mill Tailings Radiation Control Act, and associated Washington state regulations. Remediation at the Dawn mill site began in 2013. The Tailing Disposal Area 1-4 reclamation earthworks component was completed during 2017 with the embankment erosion protection completed in the second quarter of 2018. The remaining closure activities consist primarily of finalizing an Alternative Concentration Limit application (the "ACL application") submitted in 2020 to the WDOH to address groundwater issues, and also evaporating the remaining balance of process water at the site. In the fourth quarter of 2022, the WDOH provided comments on the ACL application, which Newmont is evaluating and conducting studies to better understand and respond to the comments provided by the WDOH. These studies and the related comment process will extend beyond the current year and could result in future material increases to the remediation obligation.
The remediation liability for the Midnite mine site and Dawn mill site is approximately $168, assumed 100% by Newmont, at December 31, 2024.
Goldcorp Canada Ltd. - 100% Newmont Owned
Porcupine mine site. The Porcupine complex is comprised of active open pit and underground mining operations as well as inactive, legacy sites from its extensive history of mining gold in and around the city of Timmins, Ontario since the early 1900s. As a result of these primarily historic mining activities, there are mine hazards in the area that could require some form of reclamation. The Company is conducting studies to better catalog, prioritize, and update its existing information of these historical mine hazards, to inform its closure plans and estimated closure costs. Based on work performed during 2023, a $46 reclamation adjustment was recorded at December 31, 2023, however, on-going studies will extend beyond the current year and could result in future material increases to the reclamation obligation at Porcupine.
Cadia Holdings Pty Ltd. - 100% Newmont Owned
Cadia mine site. Cadia Holdings Pty Ltd. (“Cadia Holdings”) is a wholly owned subsidiary of Newcrest, which was acquired by Newmont in November 2023. The mine site is subject to regulations by the New South Wales Environment Protection Authority (the “NSW EPA”). During the quarter ended June 2023, the NSW EPA issued variations to its Environment Protection License (“EPL”), a Prevention Notice and Notices to Provide Information regarding the management of, and investigation into potential breaches relating to, dust emissions and other air pollutants from Cadia Holdings’ tailings storage facilities and ventilation rises. The license variations largely formalized the actions Cadia Holdings had developed in consultation with the NSW EPA and was already undertaking across a range of measures. Cadia Holdings received a letter from the NSW EPA in June 2023 requiring it to immediately comply with specific statutory requirements and EPL conditions. Adjustments were implemented underground, including a reduction in mining rates, modifications to the ventilation circuit and the installation of additional dust sprays and spray curtains. Additional dust collection units were subsequently installed, enabling normal mining rates to be restored.
In August 2023, the NSW EPA commenced proceedings in the Land and Environment Court of NSW (the “NSW Land and Environment Court”) against Cadia Holdings, alleging that air emissions from Cadia on or about March 1, 2022 exceeded the standard of concentration for total solid particles permitted under applicable laws due to the use of surface exhaust fans at the mine. On September 29, 2023, Cadia Holdings entered a plea of guilty and the NSW Land and Environment Court listed the case for a sentencing hearing on June 21, 2024. On October 13, 2023, the NSW EPA commenced additional proceedings in the NSW Land and Environment Court against Cadia Holdings, alleging two additional contraventions of applicable air emissions requirements between November 3 and 5, 2021 and May 24 and 25, 2023 and two contraventions related to alleged air pollution from tailings storage facilities on October 13 and 31, 2022. On November 24, 2023, Cadia Holdings entered a plea of guilty to the two additional charges relating to applicable air emissions requirements and the sentencing hearing took place before the NSW Land and Environment Court on June 21, 2024. The matter has been adjourned pending the delivery of the judgment. On October 18, 2024, Cadia Holdings entered a plea of not guilty to the proceedings related to alleged air pollution from Cadia Holdings’ tailings storage facilities. The proceedings have been adjourned for further directions on February 21, 2025. The NSW EPA’s investigation regarding the management of air emissions from the mine is ongoing.
While no specific relief has been sought by the NSW EPA in its proceedings against Cadia Holdings before the NSW Land and Environment Court, the court can impose penalties.
Other Legal Matters
Newmont Corporation, as well as Newmont Canada Corporation, and Newmont Canada FN Holdings ULC – 100% Newmont Owned
Kirkland Lake Gold Inc., which was acquired by Agnico Eagle Mines Limited in 2022 (still referred to herein as “Kirkland” for ease of reference), owns certain mining and mineral rights in northeastern Ontario, Canada, referred to here as the Holt-McDermott property, on which it suspended operations in April 2020. A subsidiary of the Company has a retained royalty obligation (“Holt royalty obligation”) to Royal Gold, Inc. (“Royal Gold”) for production on the Holt-McDermott property. In August 2020, the Company and Kirkland signed a Strategic Alliance Agreement (the “Kirkland Agreement”). As part of the Kirkland Agreement, the Company purchased an option (the “Holt option”) for $75 from Kirkland for the mining and mineral rights subject to the Holt royalty obligation. The Company has the right to exercise the Holt option and acquire ownership to the mineral interests subject to the Holt royalty obligation in the event Kirkland intends to resume operations and process material subject to the obligation. Kirkland has the right to assume the Company’s Holt royalty obligation at any time, in which case the Holt option would terminate.
On August 16, 2021, International Royalty Corporation (“IRC”), a wholly-owned subsidiary of Royal Gold, filed an action in the Supreme Court of Nova Scotia against Newmont Corporation, Newmont Canada Corporation, Newmont Canada FN Holdings ULC (collectively "Newmont"), and certain Kirkland defendants (collectively "Kirkland"). IRC alleges the Kirkland Agreement is oppressive to the interests of Royal Gold under the Nova Scotia Companies Act and the Canada Business Corporations Act, and that, by entering into the Kirkland Agreement, Newmont breached its contractual obligations to Royal Gold. IRC seeks declaratory relief, and $350 in alleged royalty payments that it claims Newmont expected to pay under the Holt royalty obligation, but for the Kirkland Agreement. Kirkland filed a motion seeking dismissal of the case against it, which the court granted in October 2022. Newmont submitted its statement of defense on February 27, 2023, and a motion for summary judgment on January 12, 2024. The motion for summary judgment was denied on May 27, 2024. Newmont intends to vigorously defend this matter but cannot reasonably predict the outcome.
Newmont Ghana Gold Limited and Newmont Golden Ridge Limited - 100% Newmont Owned
On December 24, 2018, two individual plaintiffs, who are members of the Ghana Parliament (“Plaintiffs”), filed a writ to invoke the original jurisdiction of the Supreme Court of Ghana. On January 16, 2019, Plaintiffs filed the Statement of Plaintiff’s Case outlining the details of the Plaintiff’s case and subsequently served Newmont Ghana Gold Limited (“NGGL”) and Newmont Golden Ridge Limited (“NGRL”) along with the other named defendants, the Attorney General of Ghana, the Minerals Commission of Ghana and 33 other mining companies with interests in Ghana. The Plaintiffs allege that under article 268 of the 1992 Constitution of Ghana, the mining company defendants are not entitled to carry out any exploitation of minerals or other natural resources in Ghana, unless their respective transactions, contracts or concessions are ratified or exempted from ratification by the Parliament of Ghana. Newmont’s current mining leases are both ratified by Parliament; NGGL June 13, 2001 mining lease, ratified by Parliament on October 21, 2008, and NGRL January 19, 2010 mining lease; ratified by Parliament on December 3, 2015. The writ alleges that any mineral exploitation prior to Parliamentary ratification is unconstitutional. The Plaintiffs seek several remedies including: (i) a declaration as to the meaning of constitutional language at issue; (ii) an injunction precluding exploitation of minerals for any mining company without prior Parliamentary ratification; (iii) a declaration that all revenue as a result of violation of the Constitution shall be accounted for and recovered via cash equivalent; and (iv) an order that the Attorney General and Minerals Commission submit all un-ratified mining leases, undertakings or contracts to Parliament for ratification. Newmont intends to vigorously defend this matter, but cannot reasonably predict the outcome.
Newmont Capital Limited and Newmont Canada FN Holdings ULC – 100% Newmont Owned
The Australian Taxation Office (“ATO”) is conducting a limited review of the Company’s prior year tax returns. The ATO is reviewing an internal reorganization executed in 2011 when Newmont completed a restructure of the shareholding in the Company’s Australian subsidiaries. To date, the Company has responded to inquiries from the ATO and provided them with supporting
documentation for the transaction and the Company’s associated tax positions. One aspect of the ATO review relates to an Australian capital gains tax that applies to sales or transfers of stock in certain types of entities. In the fourth quarter of 2017, the ATO notified the Company that it believed the 2011 reorganization was subject to capital gains tax of approximately $85 (including interest and penalties). The Company disputed this conclusion and is vigorously defending its position that the transaction is not subject to this tax. In the fourth quarter of 2017, the Company made a $24 payment to the ATO and lodged an appeal with the Australian Federal Court. The court proceedings were held during the third quarter of 2024 and the Company is currently awaiting the judgment, which is expected during the second quarter of 2025. The Company cannot reasonably predict the outcome.
Newmont Corporation and Goldcorp Canada Ltd. – 100% Newmont Owned
On November 20, 2024, Taykwa Tagamou Nation (“TTN") filed a Statement of Claim in the Ontario Superior Court of Justice against the Ontario government, as well as Newmont Corporation and Goldcorp Canada Ltd. (collectively “Newmont”), alleging that the resumption of open pit mining at the Pamour mine in Timmins, Ontario, Canada would be without proper consultation or consideration of the cumulative impacts of TTN’s traditional territory and Aboriginal rights, and as such, the associated environmental permits previously issued by the Ontario government with respect to Pamour ought to be revoked. TTN is seeking, amongst other things: (i) a stay of all activities authorized under the permits until the case is resolved, (ii) a declaration that Ontario breached its duty to consult and violated Treaty No. 9, and section 35 of the Constitution Act (Canada) 1982, and (iii) general and aggravated damages. Newmont remains steadfast in its commitment to foster meaningful and productive relationships with First Nation communities in Canada, and had undertaken appropriate consultations with various community stakeholders, including TTN and other First Nation groups in the Timmins area – as such, the permits were properly issued by the government. Newmont intends to vigorously defend this matter, but cannot reasonably predict the outcome.
Newmont Corporation
On January 31, 2025, a putative class action lawsuit was filed against Newmont and Newmont’s Chief Executive Officer, Chief Operating Officer and Chief Financial Officer in the United States District Court for the District of Colorado. The action was brought on behalf of an alleged class of Newmont stockholders who owned stock between February 22, 2024 and October 23, 2024 (the alleged class period). Plaintiffs allege that the defendants made a series of materially false and misleading statements and/or omissions during the alleged class period regarding the Company’s projected revenue outlook and ability to deliver higher grades of gold and mineral production in violation of federal securities laws. Plaintiffs further allege that the purported class members suffered losses and damages resulting from declines in the market value of Newmont’s common stock after the Company announced its third quarter 2024 results and updated guidance on October 23, 2024. Plaintiffs seek unspecified monetary damages and other relief. Newmont intends to vigorously defend this matter, but cannot reasonably predict the outcome.
Other Commitments and Contingencies
As part of its ongoing business and operations, the Company and its affiliates are required to provide surety bonds, bank letters of credit and bank guarantees as financial support for various purposes, including environmental remediation, reclamation, exploration permitting, workers compensation programs and other general corporate purposes. At December 31, 2024 and 2023, there were $2,086 and $2,123, respectively, of outstanding letters of credit, surety bonds and bank guarantees. The obligations associated with these instruments are generally related to performance requirements that the Company addresses through its ongoing operations. As the specific requirements are met, the beneficiary of the associated instrument cancels and/or returns the instrument to the issuing entity. Certain of these instruments are associated with operating sites with long-lived assets and will remain outstanding until closure. Generally, bonding requirements associated with environmental regulation are becoming more restrictive. However, the Company believes it is in compliance with all applicable bonding obligations and will be able to satisfy future bonding requirements through existing or alternative means, as they arise.
Newmont is from time to time involved in various legal proceedings related to its business. Except in the above described proceedings, management does not believe that adverse decisions in any pending or threatened proceeding or that amounts that may be required to be paid by reason thereof will have a material adverse effect on the Company’s financial condition or results of operations.
In connection with the Company's investment in Galore Creek, Newmont will owe NovaGold Resources Inc. $75 upon the earlier of approval to construct a mine, mill and all related infrastructure for the Galore Creek project or the initiation of construction of a mine, mill or related infrastructure. The amount due is non-interest bearing. The decision for an approval and commencement of construction is contingent on the results of a prefeasibility study which is currently under way and feasibility study which has not yet occurred.
v3.25.0.1
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
 12 Months Ended
Dec. 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS
Year Ended December 31,
202420232022
(in millions)
Deferred Income Tax Valuation Allowance
Balance at beginning of year$4,652 $3,994 $3,791 
Additions due to acquisition of Newcrest
168 300 — 
Additions to deferred income tax expense80 565 370 
Reduction of deferred income tax expense(382)(207)(109)
Additions and reductions reflected in other components of the financial statements(155)— (58)
Balance at end of year$4,363 $4,652 $3,994 
Refer to Note 10 to the Consolidated Financial Statements for additional information.
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Net Income (Loss) $ 3,348 $ (2,494) $ (429)
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended 12 Months Ended
Dec. 31, 2024
shares
Dec. 31, 2024
shares
Trading Arrangements, by Individual    
Rule 10b5-1 Arrangement Adopted false  
Non-Rule 10b5-1 Arrangement Adopted false  
Non-Rule 10b5-1 Arrangement Terminated false  
Tom Palmer [Member]    
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement  
On December 16, 2024, Tom Palmer, President, Chief Executive Officer and Director, terminated a trading arrangement previously adopted with respect to the sale of securities of the Company’s common stock. Mr. Palmer’s Rule 10b5-1 Trading Plan was adopted on March 28, 2024, had a term of 11 months, and provided for the sale of up to 104,000 shares of common stock pursuant to the terms of the plan. As of the date of termination of the Rule 10b5-1 Trading Plan, Mr. Palmer had sold 99,000 shares of common stock under its terms. The adoption of such 10b5-1 Trading Plan, and its subsequent termination, each occurred during an open insider trading window and complied with the Company’s standards on insider trading.
Name Tom Palmer  
Title President, Chief Executive Officer and Director  
Rule 10b5-1 Arrangement Terminated true  
Termination Date December 16, 2024  
Aggregate Available 104,000 104,000
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
We rely upon technology and information systems to support our mining and business operations globally. These systems may be susceptible to cybersecurity risks including, but not limited to, external attackers, malware, viruses, and unauthorized access to our IT systems. Cybersecurity and the secure adoption of emerging technologies, including artificial intelligence ("AI"), remain strategic priorities for Newmont. We continuously invest and develop our cybersecurity controls and processes to address these threats and reduce the risk of future breaches and cyber attacks. Risk associated with a cybersecurity incident, impacting our operations, has been integrated into our overall global risk management system and process. Our Board of Directors and management team oversee these risks as part of our enterprise risk management framework, ensuring alignment with our business objectives and regulatory obligations.
Foundationally, we seek to manage cyber risk through a structure of controls that includes cybersecurity standards, policies and cyber solutions that protect the availability, integrity, and confidentiality of our critical IT and mining systems. We monitor for emergent cyber threats and assess any actions required to reduce those risks. Our cybersecurity program is aligned to globally recognized security frameworks including the Mitre Att&ck Framework, NIST and ISO27001. We are currently certified compliant against ISO27001 and engage a certified audit firm to conduct annual control testing and reaffirm our certification. We further test our cybersecurity controls by engaging leading third-party cybersecurity service providers to perform external and internal penetration tests of critical business applications and mining system. Additionally, we review and tabletop test our incident response plan. We leverage continuous monitoring of our internet facing presence, as well as, known internet based criminal communities for mentions of Newmont, our executives, and employees. Our Security Operations Center ("SOC") continuously monitors for security events and threats, responding and escalating when appropriate. We also hold employee trainings on privacy and current cybersecurity topics, conduct phishing tests and generally seek to promote awareness of cybersecurity risk through communication and education of our employee population.
Newmont requires third parties that supply IT services, have access to Newmont systems, or manage Newmont data to adhere to established Newmont security policies. Additionally, Newmont requires that such third parties are required to provide detailed information on their established security controls via our third party risk assessment process. The third party risk assessment informs our contracting process. Specific certification may be required of critical third party IT service providers and partners. All third party workers are bound by our Acceptable Technology Use standard which governs appropriate IT systems access and usage.
Our operations rely on the secure processing, storage and transmission of confidential and other information in our computer systems and networks. Computer viruses, hackers, employee or vendor misconduct, and other external hazards could expose our information systems, and those of our vendors, to security breaches, cybersecurity incidents or other disruptions, any of which could materially and adversely affect our business. Cybersecurity incidents may also cause disruption to mining operations; critical financial or reporting systems impairment; breach or integrity loss of Newmont proprietary or confidential data; or external reputational damage.
The sophistication of cybersecurity threats, including through the use of AI, continues to increase, and the controls and preventative actions we take to reduce the risk of cybersecurity incidents and protect our systems, including the regular testing of our cybersecurity incident response plan, may become insufficient. In addition, new technology that could result in greater operational efficiency such as our use of AI, fleet electrification, and autonomous vehicles may further expose our operations and computer systems to the risk of cybersecurity incidents. Newmont did not identify any cybersecurity incidents during the year ended December 31, 2024 that have materially affected or are reasonably likely to materially affect Newmont's business strategy, results of operations, or financial condition.
Additional information about cybersecurity risks we face is discussed in Item 1A, Risk Factors of this report under the heading "We are dependent upon information technology and operational technology systems, which are subject to disruption, damage, failure or cybersecurity attacks and risks associated with implementation, upgrade, operation and integration" which should be read in conjunction with the information above.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
We rely upon technology and information systems to support our mining and business operations globally. These systems may be susceptible to cybersecurity risks including, but not limited to, external attackers, malware, viruses, and unauthorized access to our IT systems. Cybersecurity and the secure adoption of emerging technologies, including artificial intelligence ("AI"), remain strategic priorities for Newmont. We continuously invest and develop our cybersecurity controls and processes to address these threats and reduce the risk of future breaches and cyber attacks. Risk associated with a cybersecurity incident, impacting our operations, has been integrated into our overall global risk management system and process. Our Board of Directors and management team oversee these risks as part of our enterprise risk management framework, ensuring alignment with our business objectives and regulatory obligations.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
As part of our overall risk management approach, we prioritize the identification and management of cybersecurity risk at several levels, including Board oversight, executive commitment and employee training. Our Audit Committee, comprised of independent directors from our Board, oversees the responsibilities relating to the operational (including information technology ("IT") risks and data security) risk affairs of the Company. Our Audit Committee is informed of such risks through quarterly reports from our cybersecurity leadership and it reports any material findings and recommendations to the full Board for consideration.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
As part of our overall risk management approach, we prioritize the identification and management of cybersecurity risk at several levels, including Board oversight, executive commitment and employee training. Our Audit Committee, comprised of independent directors from our Board, oversees the responsibilities relating to the operational (including information technology ("IT") risks and data security) risk affairs of the Company. Our Audit Committee is informed of such risks through quarterly reports from our cybersecurity leadership and it reports any material findings and recommendations to the full Board for consideration.
Our Cybersecurity team, comprised of seasoned IT and cybersecurity members, has decades of experience across multiple technical and compliance disciplines including cyber incident response, forensics, IT compliance, incident recovery, threat investigation and information technology. Our cybersecurity team includes several individuals who hold industry recognized certifications and advanced degrees in cybersecurity. Cybersecurity oversees the implementation and compliance of our information security standards, information technology compliance, and mitigation of information security related risks. The Chief Technology Officer and Chief Information Officer have direct oversight of the cybersecurity function. We also have management level committees, leaders, and a cybersecurity incident team who support our processes to assess and manage cybersecurity risk
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] Our Audit Committee is informed of such risks through quarterly reports from our cybersecurity leadership and it reports any material findings and recommendations to the full Board for consideration.
Cybersecurity Risk Role of Management [Text Block]
Our Cybersecurity team, comprised of seasoned IT and cybersecurity members, has decades of experience across multiple technical and compliance disciplines including cyber incident response, forensics, IT compliance, incident recovery, threat investigation and information technology. Our cybersecurity team includes several individuals who hold industry recognized certifications and advanced degrees in cybersecurity. Cybersecurity oversees the implementation and compliance of our information security standards, information technology compliance, and mitigation of information security related risks. The Chief Technology Officer and Chief Information Officer have direct oversight of the cybersecurity function. We also have management level committees, leaders, and a cybersecurity incident team who support our processes to assess and manage cybersecurity risk as follows:
•The head of privacy, in conjunction with the cybersecurity leadership assists on identification and mitigation of privacy related risks across the enterprise. This combination brings together legal, compliance and other function leads as required.
•The Cybersecurity Disclosure Steering Committee, comprised of leadership from IT, cybersecurity, operations, risk, finance, legal and compliance across business segments, contributes to the assessment of cybersecurity breach, planned response, and required disclosures and filings.
•The Rapid Response Team, which includes senior executives across the Company and its global operations, is alerted as appropriate to cybersecurity incidents, natural disasters and business outages. The Rapid Response Team performs tabletop exercises on a yearly basis with inclusion across functions.
Each of these committees provides summary reports on their activities, which is then communicated as appropriate to the Audit Committee.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Our Cybersecurity team, comprised of seasoned IT and cybersecurity members, has decades of experience across multiple technical and compliance disciplines including cyber incident response, forensics, IT compliance, incident recovery, threat investigation and information technology. Our cybersecurity team includes several individuals who hold industry recognized certifications and advanced degrees in cybersecurity. Cybersecurity oversees the implementation and compliance of our information security standards, information technology compliance, and mitigation of information security related risks. The Chief Technology Officer and Chief Information Officer have direct oversight of the cybersecurity function. We also have management level committees, leaders, and a cybersecurity incident team who support our processes to assess and manage cybersecurity risk
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our Cybersecurity team, comprised of seasoned IT and cybersecurity members, has decades of experience across multiple technical and compliance disciplines including cyber incident response, forensics, IT compliance, incident recovery, threat investigation and information technology. Our cybersecurity team includes several individuals who hold industry recognized certifications and advanced degrees in cybersecurity.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
Each of these committees provides summary reports on their activities, which is then communicated as appropriate to the Audit Committee.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Risks and Uncertainties
Risks and Uncertainties
As a global mining company, the Company’s revenue, profitability, and future rate of growth are substantially dependent on prevailing metal prices, primarily for gold, but also for copper, silver, lead, and zinc. Historically, the commodity markets have been very volatile, and there can be no assurance that commodity prices will not be subject to wide fluctuations in the future. A substantial or extended decline in commodity prices could have a material adverse effect on the Company’s financial position, results of operations, cash flows, access to capital and on the quantities of reserves that the Company can economically produce. The carrying value of the Company’s Property, plant and mine development, net; Inventories; Stockpiles and ore on leach pads; Investments; certain Derivative assets; Deferred income tax assets; and Goodwill are particularly sensitive to the outlook for commodity prices. A decline in the Company’s price outlook from current levels could result in material impairment charges related to these assets.
The Company's global operations expose it to risks associated with public health crises, geopolitical and macroeconomic pressures, including but not limited to inflationary conditions, as well as the effects of certain countermeasures taken by central banks, supply chain disruptions resulting from global conflicts and other global events, and an uncertain and evolving labor market.
The following factors could have further potential short- and, possibly, long-term material adverse impacts on the Company including, but not limited to, volatility in commodity prices and the prices for gold and other metals, changes in the equity and debt markets or country specific factors adversely impacting discount rates, significant cost inflation impacts on production, capital and asset retirement costs, logistical challenges, workforce interruptions and financial market disruptions, energy market disruptions, as well as potential impacts to estimated costs and timing of projects. Refer to Note 7 for further information on certain impairment charges incurred as a result of these challenging conditions.
As further response to the current market conditions, high inflation rates, the rising prices for commodities and raw materials, prolonged supply chain disruptions, competitive labor markets, and consideration of capital allocation, the Company has chosen to continue deferring the investment decision for the Yanacocha Sulfides project. While the Company has extended the timeline of the full-funds decision, assessment of the project remains a priority in Peru as the Company continued to advance engineering and long-term procurement activities. The delay of the Yanacocha Sulfides project is intended to focus funds on current operations and other capital commitments while management assesses execution and project options, up to and including transitioning Yanacocha operations into full closure. To the extent that assessment determines that the project is no longer sufficiently profitable or economically feasible under the Company’s internal requirements, it would result in negative modifications to the Company's proven and probable reserves. Additionally, should the Company ultimately decide to forgo the development of Yanacocha Sulfides, the current carrying value of the assets under construction and other long-lived assets of the Yanacocha operations could become impaired and the timing of certain closure activities would be accelerated. As of December 31, 2024, the Yanacocha operations have total long-lived assets of approximately $1,195, inclusive of approximately $827 of assets under construction related to Yanacocha Sulfides.
Furthermore, the Company continues to hold the Conga project in Peru, which the Company does not currently anticipate developing in the next ten years as the Company continues to assess Yanacocha Sulfides; accordingly, the Conga project remains in care and maintenance. Should the Company be unable to develop the Conga project or conclude that future development is not in the best interest of the business, the Company may consider other alternatives for the project, which may result in a future impairment charge for the remaining assets. The total assets at Conga were $892 and $895 at December 31, 2024 and 2023.
The Company's global operations also expose it to foreign currency exchange rates which can increase or decrease profits to the extent costs are paid in foreign currencies, including the Australian dollar, the Mexican peso, the Canadian dollar, the Argentine peso, the Peruvian sol, the Surinamese dollar, the Ghanaian cedi, and the Papua New Guinean kina. Certain mines are located in hyperinflationary economies, which included the Ahafo, Akyem, Cerro Negro, and Merian mines at December 31, 2024. The majority of the activity at these mines has historically been denominated in USD; as a result, the devaluation of the related currency has resulted in
an immaterial impact on the Company's financial statements. Therefore, future devaluation of these currencies is not expected to have a material impact on the Company's financial statements.
The Cerro Negro mine, located in Argentina, is a USD functional currency entity. Argentina’s central bank has enacted a number of foreign currency controls in an effort to stabilize the local currency, including requiring the Company to convert USD proceeds from metal sales to local currency and restricting payments to foreign-related entities denominated in foreign currency, such as dividends or distributions to the parent and related companies. The Company continues to monitor the foreign currency exposure risk and the limitations of repatriating cash to the United States. Currently, these currency controls are not expected to impact the Company's ability to repay its debt obligations or declare dividends.
Use of Estimates
Use of Estimates
The Company’s Consolidated Financial Statements have been prepared in accordance with GAAP. The preparation of the Company’s Consolidated Financial Statements requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the related disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. The Company must make these estimates and assumptions because certain information used is dependent on future events, cannot be calculated with a high degree of precision from data available or simply cannot be readily calculated based on generally accepted methodologies. Actual results could differ from these estimates.
The more significant areas requiring the use of management estimates and assumptions relate to mineral reserves that are the basis for future cash flow estimates utilized in impairment calculations and units-of-production amortization calculations; environmental remediation, reclamation and closure obligations; estimates of recoverable gold and other minerals in stockpile and leach pad inventories; estimates of fair value for certain reporting units and asset impairments (including impairments of long-lived assets, goodwill and investments); write-downs of inventory, stockpiles and ore on leach pads to net realizable value; post-employment, post-retirement and other employee benefit liabilities; valuation allowances for deferred tax assets; provisional amounts related to income tax effects of newly enacted tax laws; provisional amounts related to uncertain tax positions; valuation of assets acquired and liabilities assumed in a business combination; valuation of assets held for sale; reserves for contingencies and litigation; and the fair value and accounting treatment of financial instruments including marketable and other equity securities and derivative instruments. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Accordingly, actual results will differ from those amounts estimated in these financial statements.
Principles of Consolidation
Principles of Consolidation
The Consolidated Financial Statements include the accounts of Newmont Corporation, more-than-50%-owned subsidiaries that it controls and variable interest entities where it is the primary beneficiary. The proportionate consolidation method is used for investments in which the Company has an undivided interest in the assets, liabilities and operations and for certain unincorporated joint ventures in the extractive industry. All significant intercompany balances and transactions have been eliminated. Equity method accounting is applied for certain entities where the Company does not have control, but does have significant influence over the activities that most significantly impact the entities’ operations and financial performance. The functional currency for the majority of the Company’s operations is the U.S. dollar.
The Company follows the ASC guidance for identification and reporting of entities over which control is achieved through means other than voting rights. The guidance defines such entities as Variable Interest Entities.
Business Combination and Asset Acquisition Accounting
Business Combination and Asset Acquisition Accounting
The Company applies a screen test to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets to determine whether a transaction should be accounted for as an asset acquisition or business combination.
When an acquisition does not meet the definition of a business combination because either: (i) substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset, or group of similar identified assets, or (ii) the acquired entity does not have an input and a substantive process that together significantly contribute to the ability to create outputs, the Company accounts for the acquisition as an asset acquisition. In an asset acquisition, goodwill is not recognized, but rather, any excess purchase consideration over the fair value of the net assets acquired is allocated on a relative fair value basis to the identifiable net assets as of the acquisition date and any direct acquisition-related transaction costs are capitalized as part of the purchase consideration.
When an acquisition is accounted for as a business combination, the Company recognizes and measures the assets acquired and liabilities assumed based on their estimated fair values at the acquisition date, while transaction and integration costs related to business combinations are expensed as incurred. Any excess of the purchase consideration in excess of the aggregate fair value of the net tangible and intangible assets acquired, if any, is recorded as goodwill. For material acquisitions, the Company engages independent appraisers to assist with the determination of the fair value of assets acquired, liabilities assumed, noncontrolling interest, if any, and goodwill, based on recognized business valuation methodologies. An income, market or cost valuation method may be
utilized to estimate the fair value of the assets acquired, liabilities assumed, and noncontrolling interest, if any, in a business combination. The income valuation method represents the present value of future cash flows over the life of the asset using discrete financial forecasts, long-term growth rates, appropriate discount rates, and expected future capital requirements. The market valuation method uses prices paid for a similar asset by other purchasers in the market, normalized for any differences between the assets. The cost valuation method is based on the replacement cost of a comparable asset at the time of the acquisition adjusted for depreciation and economic and functional obsolescence of the asset. During the measurement period, not to exceed one year from the date of acquisition, the Company may record adjustments to the assets acquired and liabilities assumed, with a corresponding offset to goodwill if new information is obtained related to facts and circumstances that existed as of the acquisition date. After the measurement period, any subsequent adjustments are reflected in the period the adjustment arises.
Assets Held for Sale
Assets Held for Sale
We classify long-lived assets, or disposal groups comprising of assets and liabilities, as held for sale in the period in which the following six criteria are met, (i) management, having the authority to approve the action, commits to a plan to sell the property; (ii) the property is available for immediate sale in its present condition, subject only to terms that are usual and customary; (iii) an active program to locate a buyer and other actions required to complete the plan to sell have been initiated; (iv) the sale of the property is probable and is expected to be completed within one year; (v) the property is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and (vi) actions necessary to complete the plan of sale indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.
The Company ceases depreciation and amortization on long-lived assets (or disposal groups) classified as held for sale, and measures them at the lower of carrying value or estimated fair value less cost to sell.
In determining the fair value of the assets less costs to sell, the Company considers factors including current sales prices for comparable assets, discounted cash flow projections, third party valuations and indicative offer information, if applicable. The Company’s assumptions about fair value require significant judgment because the current market is sensitive to changes in economic conditions, as well as asset-specific considerations. The Company estimates the fair value of assets held for sale based on current market conditions and assumptions made by management, which may differ from actual results and could result in future impairments if market conditions deteriorate.
An impairment loss on the initial classification and subsequent measurement of an asset held for sale is recognized as an expense. Any subsequent increase in fair value less costs to sell (not exceeding the accumulated impairment loss that has been previously recognized) is recognized as a reversal of expense. The Company continues to evaluate the fair value of assets held for sale and monitors market conditions and other economic factors, which could result in additional impairments in the future.
Cash, Cash Equivalents and Restricted Cash
Cash, Cash Equivalents and Restricted Cash
Cash and cash equivalents consist of all cash balances and highly liquid investments with an original maturity of three months or less. Because of the short maturity of these investments, the carrying amounts approximate their fair value. Cash and cash equivalents are held in overnight bank deposits or are invested in United States Treasury securities and money market securities. Restricted cash is excluded from cash and cash equivalents and is included in other current or non-current assets. Restricted cash is held primarily for the purpose of settling asset retirement obligations.
Stockpiles, Ore on Leach Pads and Inventories
Stockpiles, Ore on Leach Pads and Inventories
As described below, costs that are incurred in or benefit the productive process are accumulated as stockpiles, ore on leach pads and inventories. Stockpiles, ore on leach pads and inventories are carried at the lower of average cost or net realizable value. Net realizable value represents the estimated future sales price of the product based on current and long-term metals prices, less the estimated costs to complete production and bring the product to sale. Write-downs of stockpiles, ore on leach pads and inventories to net realizable value are reported as a component of Costs applicable to sales and Depreciation and amortization. The current portion of stockpiles, ore on leach pads and inventories is determined based on the expected amounts to be processed within the next 12 months and utilize the short-term metal price assumption in estimating net realizable value. Stockpiles, ore on leach pads and inventories not expected to be processed within the next 12 months are classified as non-current and utilize the long-term metal price assumption in estimating net realizable value. The major classifications are as follows:
Stockpiles
Stockpiles represent ore that has been extracted from the mine and is available for further processing. Mine sequencing may result in mining material at a faster rate than can be processed. The Company generally processes the highest ore grade material first to maximize metal production; however, a blend of metal stockpiles may be processed to balance hardness and/or metallurgy in order to maximize throughput and recovery. Processing of lower grade stockpiled ore may continue after mining operations are completed. Sulfide copper ores are subject to oxidation over time which can reduce expected future recoveries. Stockpiles are measured by estimating the number of tons added and removed from the stockpile, the number of contained ounces or pounds (based on assay data) and the estimated metallurgical recovery rates (based on the expected processing method). Stockpile ore tonnages are verified by periodic surveys. Costs are added to stockpiles based on current mining costs incurred including applicable overhead and
depreciation and amortization relating to mining operations and removed at each stockpile’s average cost per recoverable unit as material is processed. Carrying values are evaluated at least quarterly, in accordance with the above.
Ore on Leach Pads
Ore on leach pads represent ore that has been mined and placed on leach pads where a solution is applied to the surface of the heap to dissolve the gold or silver or extract the copper. Costs are added to ore on leach pads based on current mining costs, including applicable depreciation and amortization relating to mining operations. Costs are removed from ore on leach pads as ounces or pounds are recovered based on the average cost per estimated recoverable ounce of gold or silver or pound of copper on the leach pad. Estimates of recoverable ore on the leach pads are calculated from the quantities of ore placed on the leach pads (measured tons added to the leach pads), the grade of ore placed on the leach pads (based on assay data) and a recovery percentage (based on ore type). In general, leach pads recover between 50% and 95% of the recoverable ounces in the first year of leaching, declining each year thereafter until the leaching process is complete.
Although the quantities of recoverable metal placed on the leach pads are reconciled by comparing the grades of ore placed on pads to the quantities of metal actually recovered (metallurgical balancing), the nature of the leaching process inherently limits the ability to precisely monitor inventory levels. As a result, the metallurgical balancing process is constantly monitored and estimates are refined based on actual results over time. Historically, the Company’s operating results have not been materially impacted by variations between the estimated and actual recoverable quantities of metal on its leach pads. Variations between actual and estimated quantities resulting from changes in assumptions and estimates that do not result in write-downs to net realizable value are accounted for on a prospective basis.
In-process Inventory
In-process inventories represent material that is currently in the process of being converted to a saleable product. Conversion processes vary depending on the nature of the ore and the specific processing facility, but include mill in-circuit, flotation, leach and carbon-in-leach. In-process material is measured based on assays of the material fed into the process and the projected recoveries of the respective processing plants. In-process inventories are valued at the lower of the average cost of the material fed into the process attributable to the source material coming from the mines, stockpiles and/or leach pads, plus the in-process conversion costs, including applicable amortization relating to the process facilities incurred to that point in the process or net realizable value.
Precious Metals Inventory
Precious metals inventories include gold doré and/or gold bullion. Precious metals that result from the Company’s mining and processing activities are valued at the lower of the average cost of the respective in-process inventories incurred prior to the refining process, plus applicable refining costs or net realizable value.
Concentrate Inventory
Concentrate inventories represent gold, silver, lead, zinc and copper concentrate available for shipment or in transit for further processing when the sales process has not been completed. The Company values concentrate inventory at average cost, including an allocable portion of support costs and amortization. Costs are added and removed to the concentrate inventory based on metal in the concentrate and are valued at the lower of average cost or net realizable value.
Materials and Supplies
Materials and supplies are valued at the lower of average cost or net realizable value. Cost includes applicable taxes and freight.
Property, Plant and Mine Development
Property, Plant and Mine Development
Facilities and Equipment
Expenditures for new facilities or equipment and expenditures that extend the useful lives of existing facilities or equipment are capitalized and recorded at cost. Facilities and equipment acquired as a part of a finance lease, build-to-suit or other financing arrangement are capitalized and recorded based on the contractual lease terms. The facilities and equipment are depreciated using the straight-line method at rates sufficient to depreciate such capitalized costs over the estimated productive lives of such facilities. These estimated productive lives do not exceed the related estimated mine lives, which are based on proven and probable reserves.
Mine Development
Mine development costs include engineering and metallurgical studies, drilling and other related costs to delineate an ore body, the removal of overburden to initially expose an ore body at open pit surface mines and the building of access ways, shafts, lateral access, drifts, ramps and other infrastructure at underground mines. Costs incurred before mineralization is classified as proven and probable reserves are expensed and classified as Exploration or Advanced projects, research and development expense.
Capitalization of mine development project costs that meet the definition of an asset begins once mineralization is classified as proven and probable reserves.
Drilling and related costs are capitalized for an ore body where proven and probable reserves exist and the activities are directed at obtaining additional information on the ore body or converting measured, indicated and inferred resources to proven and probable reserves. All other drilling and related costs are expensed as incurred. Drilling costs incurred during the production phase for operational ore control are allocated to inventory costs and then included as a component of Costs applicable to sales.
The cost of removing overburden and waste materials to access the ore body at an open pit mine prior to the production phase are referred to as “pre-stripping costs.” Pre-stripping costs are capitalized during the development of an open pit mine. Where multiple open pits exist at a mining complex utilizing common processing facilities, pre-stripping costs are capitalized at each pit. The removal, production, and sale of de minimis saleable materials may occur during the development phase of an open pit mine and are assigned incremental mining costs related to the removal of that material.
The production phase of an open pit mine commences when saleable minerals, beyond a de minimis amount, are produced. Stripping costs incurred during the production phase of a mine are variable production costs that are included as a component of inventory to be recognized in Costs applicable to sales in the same period as the revenue from the sale of inventory.
Mine development costs are amortized using the units-of-production method based on estimated recoverable ounces or pounds in proven and probable reserves. To the extent that these costs benefit an entire ore body, they are amortized over the estimated life of the ore body. Costs incurred to access specific ore blocks or areas that only provide benefit over the life of that area are amortized over the estimated life of that specific ore block or area.
Underground development costs incurred before mineralization is classified as proven and probable reserves are expensed and classified as Exploration or Advanced projects, research and development expense. Capitalization of mine development project costs that meet the definition of an asset begins once mineralization is classified as proven and probable reserves.
Mineral Interests
Mineral interests include acquired interests in production, development and exploration stage properties. Mineral interests are capitalized at their fair value at the acquisition date, either as an individual asset purchase or as part of a business combination. Mineral interests in the development and exploration stage are not amortized until the underlying property is converted to the production stage, at which point the mineral interests are amortized over the estimated recoverable proven and probable reserves.
The value of such assets is primarily driven by the nature and amount of mineral interests believed to be contained in such properties. Production stage mineral interests represent interests in operating properties that contain proven and probable reserves and are amortized using the units-of-production method based on the estimated recoverable ounces or pounds in proven and probable reserves. Development stage mineral interests represent interests in properties under development that contain proven and probable reserves. Exploration stage mineral interests represent interests in properties that are believed to potentially contain mineral resources consisting of (i) mineral resources within pits; mineral resources with insufficient drill spacing to qualify as proven and probable reserves; and mineral resources in close proximity to proven and probable reserves; (ii) around-mine exploration potential not immediately adjacent to existing reserves and mineralization, but located within the immediate mine area; (iii) other mine-related exploration potential that is not part of current resources and is comprised mainly of material outside of the immediate mine area; (iv) greenfield exploration potential that is not associated with any other production, development or exploration stage property, as described above; or (v) any acquired right to explore or extract a potential mineral deposit. The Company’s mineral rights generally are enforceable regardless of whether proven and probable reserves have been established. In certain limited situations, the nature of a mineral right changes from an exploration right to a mining right upon the establishment of proven and probable reserves. The Company has the ability and intent to renew mineral interests where the existing term is not sufficient to recover all identified and valued proven and probable reserves and/or undeveloped mineral resources.
Goodwill
Goodwill
Goodwill represents the excess of the purchase price over the estimated fair value of the net assets acquired in a business acquisition. Goodwill is allocated to reporting units and tested for impairment annually as of December 31 and when events or changes in circumstances indicate that the carrying value of a reporting unit exceeds its fair value. Each operating mine is considered a distinct reporting unit for purposes of goodwill impairment testing.
The Company may elect to perform a qualitative assessment when it is more likely than not that the fair value of a reporting unit is higher than its carrying value. If the Company determines that it is more likely than not that the fair value is less than the carrying value, a quantitative goodwill impairment test is performed to determine the fair value of the reporting unit. The fair value of a reporting unit is determined using either the income approach utilizing estimates of discounted future cash flows or the market approach utilizing recent transaction activity for comparable properties. These approaches are considered Level 3 fair value measurements. If the carrying amount of the reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. The Company recognizes its pro rata share of goodwill and any subsequent goodwill impairment losses recorded by entities that are proportionately consolidated.
The estimated cash flows used to assess the fair value of a reporting unit are derived from the Company’s current business plans, which are developed using short-term price forecasts reflective of the current price environment and management’s projections for long-term average metal prices. In addition to short- and long-term metal price assumptions, other assumptions include estimates of commodity-based and other input costs; capital investments; proven and probable mineral reserves estimates, including the timing and cost to develop and produce the reserves; value beyond proven and probable mineral reserve estimates; estimated future closure costs; the use of appropriate discount rates; and applicable U.S. dollar long-term exchange rates.
Impairment of Long-lived Assets
Impairment of Long-lived Assets
The Company reviews and evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amounts may not be recoverable. An impairment loss is measured and recorded based on the estimated fair value of the long-lived assets being tested for impairment, and their carrying amounts. Fair value is typically determined through the use of an income approach utilizing estimates of discounted pre-tax future cash flows or a market approach utilizing recent transaction activity for comparable properties. These approaches are considered Level 3 fair value measurements. Occasionally, such as when an asset is held for sale, market prices are used.
The estimated undiscounted cash flows used to assess recoverability of long-lived assets and to measure the fair value of the Company’s mining operations are derived from current business plans, which are developed using short-term price forecasts reflective of the current price environment and management’s projections for long-term average metal prices. In addition to short- and long-term metal price assumptions, other assumptions include estimates of commodity-based and other input costs; proven and probable mineral reserve estimates, including the timing and cost to develop and produce the reserves; value beyond proven and probable mineral reserve estimates; estimated future closure costs; and the use of appropriate discount rates.
In estimating undiscounted cash flows, assets are grouped at the lowest level for which there are identifiable cash flows that are largely independent of undiscounted cash flows from other asset groups. The Company’s estimates of undiscounted cash flows are based on numerous assumptions and it is possible that actual cash flows may differ significantly from estimates, as actual produced reserves, metal prices, commodity-based and other costs, and closure costs are each subject to significant risks and uncertainties.
Investments
Investments
Time Deposits
Time deposits with an original maturity of more than three months but less than one year are included within Investments. These time deposits are carried at amortized cost. Accrued interest is recorded in Other income (loss), net.
Equity Method Investments
Management classifies investments at the acquisition date and re-evaluates the classification at each balance sheet date and when events or changes in circumstances indicate that there is a change in the Company’s ability to exercise significant influence. The ability to exercise significant influence is typically presumed when the Company possesses 20% or more of the voting interests in the investee. The Company accounts for its investments in stock of other entities over which the Company has significant influence, but not control, using the equity method of accounting. Under the equity method of accounting, the Company increases its investment for contributions made and records its proportionate share of net earnings, declared dividends and partnership distributions based on the most recently available financial statements of the investee. To the extent that there is a basis difference between the amount invested and the underlying equity in the net assets of an equity investment, the Company allocates such differences between tangible and intangible assets. This basis difference is being amortized into Equity income (loss) of affiliates over the remaining estimated useful lives of the underlying tangible and intangible net assets. The Company from time to time will elect the fair value option to account for its equity method investments if the fair value option better reflects the economics of its investment. Equity method investments accounted for under the fair value option are remeasured periodically with any changes in fair value recorded in Other income (loss), net. Equity method investments are included in Investments.
Contributions made to equity method investees at times are in the form of loan agreements. Loans provided to equity method investees that are made based on the Company's proportionate ownership percentage are accounted for as “in-substance capital contributions” and are treated as an increase to the investment. Principal and interest payments received on loans treated as in-substance capital contributions are assessed under the cumulative earnings approach to determine if the distribution received represents a return on capital or a return of capital. Return on capital distributions are recorded as an operating cash flow whereas return of capital distributions are recorded as an investing cash flow. Loans provided to equity method investees that are not made on a proportionate basis are accounted for as a loan receivable and do not increase the investment. Principal payments received on loans not treated as an in-substance capital contribution are accounted for as a reduction to the loan receivable and interest received is recorded as interest income.
The Company evaluates its equity method investments for potential impairment whenever events or changes in circumstances indicate that there is an other-than-temporary decline in the value of the investment. Declines in fair value that are deemed to be other-than-temporary are charged to Other income (loss), net.
Marketable Equity, Debt, and Other Equity Securities
The Company has certain marketable equity and debt securities and other equity securities. Marketable equity securities are measured primarily at fair value with any changes in fair value recorded in Other income (loss), net. Certain other equity securities are accounted for under the measurement alternative (cost less impairment, adjusted for any qualifying observable price changes) when fair value is not readily determinable. The Company accounts for its restricted marketable debt securities as available-for-sale securities. Unrealized gains and losses on available-for-sale investments, net of taxes, are reported as a component of Accumulated other comprehensive income (loss) in Total equity, unless an impairment is deemed to be credit-related. Credit-related impairment is recognized as an allowance for credit losses on the balance sheet with a corresponding charge to Other income (loss), net.
Derivative Instruments
Derivative Instruments
The Company holds derivatives for risk management purposes rather than for trading. The Company uses derivatives to mitigate uncertainty and volatility caused by underlying exposures to foreign exchange rates and energy prices. The fair values of all derivative instruments are recognized as assets or liabilities at the balance sheet date and are reported gross.
Financial instruments that meet the definition of a derivative, but are not designated for hedge accounting under ASC 815, are accounted for at fair value using derivative pricing models. Valuation models require a variety of inputs, including long term metal prices, life of mine production profiles, discount rates, and inflation assumptions. These instruments are subsequently remeasured to their fair value at each reporting date with the resulting gain or loss recognized in the Consolidated Statement of Operations.
Cash Flow Hedges
The fair value of derivative contracts qualifying as cash flow hedges are reflected as assets or liabilities in the Consolidated Balance Sheets. The changes in fair value of these hedges are deferred in Accumulated other comprehensive income (loss). Amounts deferred in Accumulated other comprehensive income (loss) are reclassified to income when the hedged transaction has occurred in the same income statement line where the earnings effect of the hedged item is presented. Cash transactions related to the Company’s derivative contracts accounted for as hedges are classified in the same category as the item being hedged in the Consolidated Statements of Cash Flows.
When derivative contracts qualifying as cash flow hedges are settled, accelerated or restructured before the maturity date of the contracts, the related amount in Accumulated other comprehensive income (loss) at the settlement date is deferred and reclassified to earnings, when the originally designated hedged transaction impacts earnings and is presented in the same income statement line item as the earnings effect of the hedged item, unless the underlying hedge transaction becomes probable of not occurring, at which time related amounts in Accumulated other comprehensive income (loss) are reclassified to earnings immediately.
Debt
Debt
The Company carries its Senior Notes at amortized cost.
Debt issuance costs and debt premiums and discounts, which are included in Debt, are amortized using the effective interest method over the terms of the respective Senior Notes as a component of Interest expense, net of capitalized interest within the Consolidated Statements of Operations.
Gain or loss on extinguishment of debt is recorded as a component of Other income (loss), net upon the extinguishment of a debt instrument and is calculated as the difference between the reacquisition price and net carrying amount of the debt, which includes unamortized debt issuance costs. The Company evaluates all changes to its debt arrangements to determine whether the changes represent a modification or extinguishment to the old debt arrangement. If a debt instrument is deemed to be modified, the Company capitalizes all new lender fees and expenses all third-party fees. If it is determined that an extinguishment of one of the Company's debt instruments has occurred, the unamortized financing fees associated with the extinguished instrument are expensed. For the revolving loans, all lender and third-party fees are capitalized, and in the event an amendment reduces the committed capacity under the revolving loans, the Company will expense a portion of any unamortized fees on a pro-rata basis in proportion to the decrease in the committed capacity.
Leases
Leases
The Company determines if a contractual arrangement represents or contains a lease at inception. Operating leases are included in Other non-current assets and Other current and non-current liabilities in the Consolidated Balance Sheets. Finance leases are included in Property, plant and mine development, net and current and non-current Lease and other financing obligations in the Consolidated Balance Sheets.
Operating and finance lease right-of-use ("ROU") assets and lease liabilities are recognized at the lease commencement date based on the present value of the future lease payments over the lease term. Leases acquired in a business combination are also measured based on the present value of the remaining leases payments, as if the acquired lease were a new lease at the acquisition date. When the rate implicit to the lease cannot be readily determined, the Company utilizes its incremental borrowing rate in
determining the present value of the future lease payments. The incremental borrowing rate is derived from information available at the lease commencement date and represents the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term and amount equal to the lease payments in a similar economic environment. The ROU asset includes any lease payments made and lease incentives received prior to the commencement date. Operating lease ROU assets also include any cumulative prepaid or accrued rent when the lease payments are uneven throughout the lease term. The ROU assets and lease liabilities may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.
The Company has lease arrangements that include both lease and non-lease components. The Company accounts for each separate lease component and its associated non-lease components as a single lease component for the majority of its asset classes. Additionally, for certain lease arrangements that involve leases of similar assets, the Company applies a portfolio approach to effectively account for the underlying ROU assets and lease liabilities.
Common Stock, Treasury Stock
Common Stock
Newmont filed a shelf registration statement on Form S-3 under which it can issue an indeterminate number or amount of common stock, preferred stock, debt securities, guarantees of debt securities and warrants from time to time at indeterminate prices, subject to the limitations of the Delaware General Corporation Law, the Company's certification of incorporation and bylaws. It also includes the ability to resell an indeterminate amount of common stock, preferred stock and debt securities from time to time upon exercise of warrants or conversion of convertible securities.
Treasury Stock
The Company records repurchases of common shares as Treasury stock at cost and records any subsequent retirements of treasury shares at cost. When treasury shares are retired, the Company’s policy is to allocate the excess of the repurchase price over the par value of shares acquired to both Retained earnings and Additional paid-in capital using settlement-date accounting. The portion allocated to Additional paid-in capital is calculated on a pro rata basis of the shares to be retired and the total shares issued and outstanding as of the date of the retirement.
During the years ended December 31, 2024, the Company repurchased and retired approximately 26 million shares of its common stock for $1,246. No repurchases occurred during the years ended December 31, 2023 and 2022. During the years ended December 31, 2024, 2023 and 2022, the Company withheld 0.4 million, 0.6 million and 0.6 million shares, respectively, for payments of employee withholding taxes related to the vesting of stock awards.
Revenue Recognition
Revenue Recognition
Newmont generates revenue by selling gold, copper, silver, lead, and zinc produced from its mining operations. Refer to Note 4 for further information regarding the Company’s operating segments.
The majority of the Company’s Sales come from the sale of refined gold; however, the end product at the Company’s gold operations is generally doré bars. Doré is an alloy consisting primarily of gold but also containing silver and other metals. Doré is sent to refiners to produce bullion that meets the required market standard of 99.95% gold. Under the terms of the Company’s refining agreements, the doré bars are refined for a fee, and the Company’s share of the refined gold and the separately-recovered silver is credited to its bullion account. Gold from doré bars credited to its bullion account is typically sold to banks or refiners.
A portion of gold sold from certain sites is sold in the form of concentrate. The Company’s Sales also come from the sale of copper, silver, lead, and zinc. Sales from these metals are generally in the form of concentrate, which is sold to smelters for further treatment and refining.
Generally, if a metal expected to be mined represents more than 10% to 20% of the life of mine sales value of all the metal expected to be mined, co-product accounting is applied. When the Company applies co-product accounting at an operation, revenue is recognized for each co-product metal sold, and shared costs applicable to sales are allocated based on the relative sales values of the co-product metals produced. Generally, if metal expected to be mined is less than the 10% to 20% of the life of mine sales value, by-product accounting is applied. Revenues from by-product sales, which are immaterial, are credited to Costs applicable to sales as a by-product credit. Silver, lead and zinc are produced as co-products at Peñasquito. Copper is produced as a co-product at Red Chris, Boddington, Cadia, and Telfer. Aside from the co-product sales at Red Chris, Peñasquito, Boddington, Cadia, and Telfer, copper and silver produced at other Newmont sites are by-product metals.
Gold Sales from Doré Production
The Company recognizes revenue for gold from doré production when it satisfies the performance obligation of transferring gold inventory to the customer, which generally occurs upon transfer of gold bullion credits as this is the point at which the customer obtains control the ability to direct the use and obtains substantially all of the remaining benefits of ownership of the asset.
The Company generally recognizes the sale of gold bullion credits when the credits are delivered to the customer. The transaction price is determined based on the agreed upon market price and the number of ounces delivered. Payment is due upon delivery of gold bullion credits to the customer’s account.
Sales from Concentrate Production
The Company recognizes revenue for gold, copper, silver, lead, and zinc from concentrate production, net of treatment and refining charges, when it satisfies the performance obligation of transferring control of the concentrate to the customer. This generally occurs as material passes over the vessel's rail at the port of loading based on the date from the bill of lading, as the customer has the ability to direct the use of and obtain substantially all of the remaining benefits from the material and the customer has the risk of loss. Newmont has elected to account for shipping and handling costs for concentrate contracts as fulfillment activities and not as promised goods or services; therefore these activities are not considered separate performance obligations.
The Company generally sells metal concentrate based on the monthly average market price for a future month, dependent on the relevant contract, following the month in which the delivery to the customer takes place. The amount of revenue recognized for concentrates is initially recorded on a provisional basis based on the forward prices for the estimated month of settlement and the Company’s estimated metal quantities based on assay data. The Company’s sales based on a provisional price contain an embedded derivative that is required to be separated from the host contract for accounting purposes. The host contract is the receivable from the sale of the concentrates at the forward price at the time of sale. The embedded derivative, which is not designated for hedge accounting, is primarily marked to market through Sales each period prior to final settlement. The Company also adjusts estimated metal quantities used in computing provisional sales using new information and assay data from the smelter as it is received (if any).
A provisional payment is generally due upon delivery of the concentrate to the customer. Final payment is due upon final settlement of price and quantity with the customer.
The principal risks associated with recognition of sales on a provisional basis include metal price fluctuations and updated quantities between the date the sale is recorded and the date of final settlement. If a significant decline in metal prices occurs, or assay data results in a significant change in quantity between the provisional pricing date and the final settlement date, it is reasonably possible that the Company could be required to return a portion of the provisional payment received on the sale. Refer to Note 5 for additional information.
Income and Mining Taxes
Income and Mining Taxes
The Company accounts for income taxes using the liability method, recognizing certain temporary differences between the financial reporting basis of the Company’s liabilities and assets and the related income tax basis for such liabilities and assets. This method generates either a net deferred income tax liability or asset for the Company, as measured by the statutory tax rates in effect. The Company derives its deferred income tax charge or benefit by recording the change in either the net deferred income tax liability or asset balance for the year. The financial statement effects of changes in tax law are recorded as discrete items in the period enacted as part of income tax expense or benefit from continuing operations, regardless of the category of income or loss to which the deferred taxes relate. The Company determines if the assessment of a particular income tax effect is “complete.” Those effects for which the accounting is determined to be complete are reported in the enactment period financial statements. The Company has exposure to the impact of foreign exchange fluctuations on tax positions in certain jurisdictions, such movements are recorded within Income and mining tax benefit (expense) related to deferred income tax assets and liabilities, as well as non-current uncertain tax positions, while foreign exchange fluctuations impacting current tax positions are recorded within Other income (loss), net as foreign currency exchange gains (losses). With respect to the earnings that the Company derives from the operations of its consolidated subsidiaries, in those situations where the earnings are indefinitely reinvested, no deferred taxes have been provided on the unremitted earnings (including the excess of the carrying value of the net equity of such entities for financial reporting purposes over the tax basis of such equity) of these consolidated companies.
Mining taxes represent state and provincial taxes levied on mining operations and are classified as income taxes. As such, taxes are based on a percentage of mining profits.
Newmont’s operations are in multiple jurisdictions where uncertainties arise in the application of complex tax regulations. Some of these tax regimes are defined by contractual agreements with the local government, while others are defined by general tax laws and regulations. Newmont and its subsidiaries are subject to reviews of its income tax filings and other tax payments, and disputes can arise with the taxing authorities over the interpretation of its contracts or laws. The Company recognizes potential liabilities and records tax liabilities for anticipated tax audit issues in the U.S. and other tax jurisdictions based on its estimate of whether it is more likely than not, and the extent to which, additional taxes will be due. The Company adjusts these reserves in light of changing facts and circumstances; however, due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from the Company’s current estimate of the tax liabilities. If the Company’s estimate of tax liabilities proves to be less than the ultimate assessment, an additional charge to expense would result. If the estimate of tax liabilities proves to be greater than the ultimate assessment, a tax benefit would result. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in Income and mining tax benefit (expense). In certain jurisdictions, Newmont must pay a portion of the disputed amount to the local government in order to formally appeal the assessment. Such payment is recorded as a receivable if Newmont believes the amount is collectible.
Valuation of Deferred Tax Assets
The Company’s deferred income tax assets include certain future tax benefits. The Company records a valuation allowance against any portion of those deferred income tax assets when it believes, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred income tax asset will not be realized. The Company reviews the likelihood that it will realize the benefit of its deferred tax assets and therefore the need for valuation allowances on a quarterly basis, or more frequently if events indicate that a review is required. In determining the requirement for a valuation allowance, the historical and projected financial results of the legal entity or consolidated group recording the net deferred tax asset is considered, along with all other available positive and negative evidence.
Certain categories of evidence carry more weight in the analysis than others based upon the extent to which the evidence may be objectively verified. The Company looks to the nature and severity of cumulative pretax losses (if any) in the current three-year period ending on the evaluation date, recent pretax losses and/or expectations of future pretax losses. Other factors considered in the determination of the probability of the realization of the deferred tax assets include, but are not limited to:
•Earnings history;
•Projected future financial and taxable income based upon existing reserves and long-term estimates of commodity prices;
•The duration of statutory carry forward periods;
•Prudent and feasible tax planning strategies readily available that may alter the timing of reversal of the temporary difference;
•Nature of temporary differences and predictability of reversal patterns of existing temporary differences; and
•The sensitivity of future forecasted results to commodity prices and other factors.
Concluding that a valuation allowance is not required is difficult when there is significant negative evidence which is objective and verifiable, such as cumulative losses in recent years. The Company utilizes a rolling twelve quarters of pre-tax income or loss as a measure of its cumulative results in recent years. However, a cumulative three year loss is not solely determinative of the need for a valuation allowance. The Company also considers all other available positive and negative evidence in its analysis.
Reclamation and Remediation Costs
Reclamation and Remediation Costs
Reclamation obligations associated with operating and non-operating mine sites are recognized when an obligation is incurred and the estimated costs can be reasonably measured. Fair value is measured as the present value of expected cash flow estimates, after considering inflation, the Company's credit-adjusted risk-free rates and a market risk premium appropriate for the Company's operations. The liability is accreted over time through periodic charges to earnings. In addition, the asset retirement cost is capitalized as part of the asset’s carrying value and amortized over the life of the related asset. Reclamation costs are periodically adjusted to reflect changes in the estimated present value resulting from the passage of time and revisions to the estimates of either the timing or amount of the reclamation costs. Changes in reclamation estimates at mines that are not currently operating, as the mine or portion of the mine site has entered the closure phase and has no substantive future economic value, are reflected in earnings in the period an estimate is revised. The estimated reclamation obligation is based on when spending for an existing disturbance is expected to occur. Costs included in estimated asset retirement obligations are discounted to their present value as cash flows are readily estimable over a period of up to fifty years. The Company reviews, on an annual basis, unless otherwise deemed necessary, the reclamation obligation at each mine site in accordance with ASC guidance for asset retirement obligations.
Remediation costs are accrued when it is probable that an obligation has been incurred and the cost can be reasonably estimated. Such cost estimates may include ongoing care, maintenance and monitoring costs. Changes in remediation estimates at operating and non-operating mines are reflected in earnings in the period an estimate is revised. Water treatment costs included in environmental remediation obligations are discounted to their present value as cash flows are readily estimable over a period up to fifty years.
Foreign Currency
Foreign Currency
The functional currency for the majority of the Company’s operations is the U.S. dollar. Transaction gains and losses related to foreign currency denominated monetary assets and liabilities where the functional currency is the U.S. dollar are remeasured at current exchange rates and the resulting adjustments are included in Other income (loss), net. The financial statements of the Company's foreign entities with functional currencies other than the U.S. dollar are translated into U.S. dollars with the resulting adjustments charged or credited directly to Accumulated other comprehensive income (loss) in Total equity. All assets and liabilities are translated into the U.S. dollar using exchange rates in effect at the balance sheet date, while revenues and expenses are translated at the weighted average exchange rates for the period. The gains or losses on foreign currency rates on cash holdings in foreign currencies are included in Effect of exchange rate changes on cash, cash equivalents and restricted cash in the Company’s Consolidated Statements of Cash Flows.
Stock-Based Compensation
Stock-Based Compensation
The Company records stock-based compensation awards exchanged for employee services at fair value on the date of the grant and expenses the awards in the Consolidated Statements of Operations over the requisite employee service period. The fair value of RSUs are based on the Newmont stock price on the date of grant. The fair value of PSUs with market-related conditions is determined using a Monte Carlo simulation model. The fair value of PSUs with performance-related conditions is determined based on the Newmont stock price on the date of grant and the probability of the performance conditions being met. Stock-based compensation expense related to all awards, including awards with a market or performance condition that cliff vest, is generally recognized ratably over the requisite service period of the award on a straight-line basis. The Company recognizes forfeitures as they occur. The Company's estimates may be impacted by certain variables including, but not limited to, stock price volatility, employee retirement eligibility dates, the Company's performance and related tax impacts.
Net Income (Loss) per Common Share
Net Income (Loss) per Common Share
Basic and diluted income (loss) per share are presented for Net income (loss) attributable to Newmont stockholders. Basic income (loss) per common share is computed by dividing income (loss) available to Newmont common stockholders by the weighted average number of common shares outstanding during the period. Diluted income (loss) per common share is computed similarly except that weighted average common shares is increased to reflect all dilutive instruments, including employee stock awards. Dilutive securities are excluded from the calculation of diluted weighted average common shares outstanding if their effect would be anti-dilutive based on the treasury stock method or due to a net loss from continuing operations.
Discontinued Operations
Discontinued Operations
The Company reports the results of operations of a business as discontinued operations if a disposal represents a strategic shift that has (or will have) a major effect on the Company’s operations and financial results when the business is classified as held for sale, in accordance with ASC 360, Property, Plant and Equipment and ASC 205-20, Presentation of Financial Statements - Discontinued Operations. Under ASC 360, assets may be classified as held for sale even though discontinued operations classification is not met. Equity method investments, which are specifically scoped out of ASC 360, can only be classified as held for sale if discontinued operations classification is also achieved. The results of discontinued operations are reported in Net income (loss) from discontinued operations, net of tax in the accompanying Consolidated Statements of Operations for current and prior periods, including any gain or loss recognized on closing or adjustment of the carrying amount to fair value less cost to sell.
Comprehensive Income (Loss)
Comprehensive Income (Loss)
In addition to Net income (loss), Comprehensive income (loss) includes all changes in equity during a period, such as adjustments to minimum pension liabilities, foreign currency translation adjustments, changes in fair value of derivative instruments that qualify as cash flow hedges and cumulative unrecognized changes in fair value of marketable debt securities classified as available-for-sale, except those resulting from investments by and distributions to owners.
Care and Maintenance
Care and Maintenance
The Company incurs certain direct operating costs and depreciation and amortization costs when operations are temporarily halted and placed in care and maintenance. Direct operating costs incurred while operations are temporarily placed in care and maintenance are included in Other expense, net as these costs do not benefit the productive process and are not related to sales. Depreciation and amortization costs incurred while operations are temporarily placed in care and maintenance are included in Depreciation and amortization.
Reclassifications
Reclassifications
Certain amounts and disclosures in prior years have been reclassified to conform to the 2024 presentation.
Recently Adopted and Recently Issued Accounting Pronouncements and Securities and Exchange Commission Rules
Recently Adopted Accounting Pronouncements and Securities and Exchange Commission Rules
Segments Reporting
In November 2023, ASU 2023-07 was issued which improves disclosures about a public entity’s reportable segments and addresses requests from investors and other allocators of capital for additional, more detailed information about a reportable segment’s expenses. The ASU applies to all public entities that are required to report segment information in accordance with ASC 280. The Company adopted this standard as of January 1, 2024. The adoption did not have a material impact on the consolidated financial statements or disclosures.
Inflation Reduction Act
In August 2022, the U.S. government enacted the Inflation Reduction Act of 2022 (the "IRA") into law. The IRA introduced an excise tax on stock repurchases of 1% of the fair market value of stock repurchases net of stock issued during the tax year and a corporate alternative minimum tax (the "Corporate AMT") of 15% on the adjusted financial statement income ("AFSI") of corporations
with average AFSI exceeding $1 billion over a three-year period. The excise tax on stock repurchases is effective on net stock repurchases made after December 31, 2022 and the Corporate AMT is effective for tax periods beginning in fiscal year 2023. While waiting on pending Department of Treasury regulatory guidance, the Company is continuing to monitor developments. Based upon information known to date, no material impacts are expected to the Consolidated Financial Statements, disclosures, or cash flows.
In 2024, Pillar II is set to take effect. The Pillar II agreement was signed by 138 countries with the intent to equalize corporate tax around the world by implementing a global minimum tax of 15%. As Newmont primarily does business in jurisdictions with a tax rate greater than 15%, the Company does not anticipate a material impact to the Consolidated Financial Statements.
Recently Issued Accounting Pronouncements and Securities and Exchange Commission Rules
Disaggregation of Income Statement Expenses
In November 2024, ASU 2024-03 was issued, requiring additional disclosures in the notes to the financial statements on the nature of certain expense captions presented on the face of the Consolidated Statement of Operations. The new guidance is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. The Company is currently evaluating the impacts of the guidance on its Consolidated Financial Statements.
SEC Climate Rule
In March 2024, the SEC issued a final rule that requires registrants to disclose climate-related information in their annual reports and in registration statements. In April 2024, the SEC chose to stay the newly adopted rulemaking pending judicial review of related consolidated Eighth Circuit petitions. If the stay is lifted, certain disclosures may be required in annual reports for the year ending December 31, 2025, filed in 2026. The Company is currently evaluating the impacts of the rules on its consolidated financial statements.
Improvement to Income Tax Disclosures
In December 2023, ASU 2023-09 was issued, requiring disaggregated information about the effective tax rate reconciliation and additional information on taxes paid that meet a qualitative threshold. The new guidance is effective for annual reporting periods beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impacts of the guidance on its Consolidated Financial Statements.
v3.25.0.1
ACQUISITIONS AND DIVESTITURES (Tables)
 12 Months Ended
Dec. 31, 2024
Business Combinations [Abstract]  
Summary of Acquisition Date Fair Value of Consideration Transferred
The acquisition date fair value of the consideration transferred consisted of the following:
(in millions, except share and per share data)SharesPer Share
Purchase Consideration
Stock Consideration
Shares of Newmont exchanged for Newcrest outstanding ordinary shares
357,691,627 $37.88 $13,549 
Total Purchase Price
$13,549 
Summary of Final Purchase Price Allocation The following table summarizes the final purchase price allocation for the Newcrest transaction:
ASSETS
Cash and cash equivalents$668 
Trade receivables212 
Inventories723 
Stockpiles and ore on leach pads113 
Derivative assets
42 
Other current assets
193 
Current assets1,951 
Property, plant and mine development, net (1)
13,504 
Investments (2)
990 
Stockpiles and ore on leach pads (3)
219 
Deferred income tax assets (4)
75 
Goodwill (5)
2,401 
Derivative assets
362 
Other non-current assets (6)
398 
Total assets19,900 
LIABILITIES
Accounts payable344 
Employee-related benefits143 
Lease and other financing obligations
16 
Debt1,923 
Other current liabilities
333 
Current liabilities
2,759 
Debt (7)
1,373 
Lease and other financing obligations
35 
Reclamation and remediation liabilities (8)
745 
Deferred income tax liabilities (4)
1,236 
Employee-related benefits192 
Other non-current liabilities
11 
Total liabilities6,351 
Net assets acquired$13,549 
____________________________
(1)The fair value of property, plant and mine development is based on applying income, market, and cost valuation methods. Measurement period adjustments of $321 increased Property, plant and mine development, net, from the preliminary valuation primarily related to the Canadian, Lihir, and Telfer assets.
(2)The fair value of the investments was determined by applying the market approach, based on quoted prices for the acquired investments.
(3)The fair value of stockpiles and ore on leach pads is based on applying the income valuation method. Measurement period adjustments of $85 increased Stockpiles and ore on leach pads from the preliminary valuation primarily relating to the valuation of stockpiles at Lihir.
(4)Deferred income tax assets and liabilities represent the future tax benefit or future tax expense associated with the differences between the fair value allocated to assets (excluding the majority of the goodwill balance) and liabilities and a tax basis increase to the fair value of the assets acquired in Australia and the historical carryover tax basis of assets and liabilities in all other jurisdictions. No deferred tax liability is recognized for the basis difference inherent in the fair value allocated to goodwill. Measurement period adjustments resulted in Deferred income tax assets decreasing by $114 and Deferred income tax liabilities decreasing by $95 from the preliminary valuation.
(5)Goodwill is attributable to the following reportable segments: $669 to Brucejack; $539 to Red Chris; $249 to Cadia; and $944 to Lihir. Measurement period adjustments resulted in an overall reduction to Goodwill of $343 from the preliminary valuation.
(6)Measurement period adjustments of $305 increased Other non-current assets from the preliminary valuation primarily due to the recognition of an intangible asset.
(7)The fair value of the Newcrest senior notes was measured using a market approach, based on quoted prices for the acquired debt.
(8)The fair value of reclamation and remediation liabilities is based on the expected amounts and timing of cash flows for closure activities and discounted to present value using a credit-adjusted risk-free rate as of the acquisition date. Key assumptions include the costs and timing of key closure activities based on the life of mine plans, including estimates and timing of monitoring and water management costs (if applicable) after the completion of initial closure activities. Measurement period adjustments of $352 increased Reclamation and remediation liabilities.
Schedule of Pro Forma Financial Information
The following unaudited pro forma financial information presents consolidated results assuming the Newcrest transaction occurred on January 1, 2022.
Year Ended December 31,
20232022
Sales$15,432 $16,418 
Net income (loss) attributable to Newmont stockholders (1)
$(1,991)$410 
____________________________
(1)Includes $464 of Newcrest transaction and integration costs for the year ended December 31, 2023.
Schedule of Net Income (loss) from Discontinued Operations
The following table presents the carrying value of the major classes of assets and liabilities held for sale by disposal group as of December 31, 2024, prior to recognition of the write-down of $699 for the year ended December 31, 2024:
CC&V (1)
Musselwhite (1)
Porcupine (1)
Éléonore (1)
Akyem (1)
Coffee Project (2)
Total
Assets held for sale:
Property, plant and mine development, net
$170 $1,063 $1,541 $785 $559 $321 $4,439 
Other assets
408 39 93 70 258 1 869 
Carrying value of assets held for sale
$578 $1,102 $1,634 $855 $817 $322 $5,308 
Liabilities held for sale:
Reclamation and remediation liabilities
$334 $82 $563 $87 $427 $3 $1,496 
Other liabilities
37 257 223 71 91 2 681 
Carrying value of liabilities held for sale
$371 $339 $786 $158 $518 $5 $2,177 
____________________________
(1)In the fourth quarter of 2024, the Company entered into binding agreements to sell the Akyem, Musselwhite, Éléonore, and CC&V reportable segments. Additionally, in January 2025 the Company entered into a definitive agreement to sell the Porcupine reportable segment. The sales are expected to close in the first half of 2025.
(2)The Coffee Project is included in the non-operating segment Corporate and Other in Note 4.
v3.25.0.1
SEGMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Financial Information of Company's Segments The financial information relating to the Company’s segments is as follows:
SalesCosts Applicable to SalesDepreciation and Amortization
Reclamation and Remediation
Advanced Projects, Research and Development and Exploration
Other Segment Expenses (Income) (1)
Income (Loss) before Income and Mining Tax and Other ItemsTotal Assets
Capital Expenditures (2)
Year Ended December 31, 2024
Brucejack
$610 $312 $172 $5 $13 $— $108 $2,660 $70 
Red Chris
Gold96 47 14 
Copper229 172 52 
Total Red Chris325 219 66 7 13 (2)22 2,580 150 
Peñasquito:
Gold713 225 103 
Silver792 360 159 
Lead195 116 52 
Zinc622 427 162 
Total Peñasquito2,322 1,128 476 20 13 43 642 4,879 129 
Merian660 401 84 4 21 (1)151 943 81 
Cerro Negro566 312 123 5 19 13 94 1,787 186 
Yanacocha841 353 98 55 9 2 324 1,932 61 
Boddington:
Gold1,417 613 112 
Copper329 204 39 
Total Boddington1,746 817 151 13 4 (23)784 2,420 129 
Tanami988 390 123 2 28 (19)464 2,236 437 
Cadia:
Gold1,118 297 119 
Copper
743 280 123 
Total Cadia1,861 577 242 5 19 (23)1,041 6,208 537 
Lihir
1,473 787 168 12 16 21 469 5,625 193 
Ahafo1,923 722 215 8 41 (38)975 3,425 382 
NGM2,485 1,263 428 11 23 32 728 7,430 448 
Held for Sale (3)
CC&V347 200 13 11 7 19 97 561 26 
Musselwhite516 224 18 3 6 — 265 1,102 97 
Porcupine673 310 36 27 6 633 (339)1,172 201 
Éléonore583 325 21 4 11 (2)224 855 100 
Akyem
495 338 57 14 5 (5)86 817 24 
Total Reportable Segments
18,414 8,678 2,491 206 254 650 6,135 46,632 3,251 
Corporate and Other— — 68 109 195 967 (1,339)9,717 22 
Divested (4)
Telfer:
Gold242 245 14 
Copper26 40 3 
Total Telfer268 285 17 13 14 158 (219)— 51 
Consolidated$18,682 $8,963 $2,576 $328 $463 $1,775 $4,577 $56,349 $3,324 
____________________________
(1)Other Segment Expenses (Income) for all reportable segments includes Impairment charges, Loss on assets held for sale, Other expense, net, and Other income (loss), net. Refer to Notes 7, 3, 8, and 9, respectively, for further information. Additionally, Other Segment Expenses (Income) includes General and administrative and Interest expense, net of capitalized interest, which are primarily incurred at the non-operating segment Corporate and Other.
(2)Primarily includes a decrease in accrued capital expenditures of $78. Consolidated capital expenditures on a cash basis were $3,402.
(3)Refer to Note 3 for further information on held for sale. The Coffee Project is included in the non-operating segment Corporate and Other.
(4)In the fourth quarter of 2024, the Company completed the sale of the assets of the Telfer reportable segment. Refer to Note 3 for further information.
SalesCosts Applicable to SalesDepreciation and Amortization
Reclamation and Remediation (1)
Advanced Projects, Research and Development and Exploration
Other Segment Expenses (Income) (1)(2)
Income (Loss) before Income and Mining Tax and Other ItemsTotal Assets
Capital Expenditures (3)
Year Ended December 31, 2023
CC&V$332 $198 $23 $12 $13 $4 $82 $383 $64 
Musselwhite351 214 80 3 10 298 (254)1,018 104 
Porcupine503 301 117 18 17 5 45 1,473 166 
Éléonore453 295 101 3 10 247 (203)777 106 
Brucejack (4)
72 69 22 — 7 — (26)4,006 22 
Red Chris (4)
Gold9 4 1 
Copper23 17 3 
Total Red Chris32 21 4 — — (1)8 2,178 25 
Peñasquito: (5)
Gold257 158 67 
Silver335 300 134 
Lead96 98 45 
Zinc213 253 105 
Total Peñasquito901 809 351 18 11 1,523 (1,811)4,738 113 
Merian625 385 82 3 23 10 122 927 84 
Cerro Negro510 328 137 4 10 16 15 1,646 162 
Yanacocha537 294 85 1,232 11 (15)(1,070)2,117 312 
Boddington:
Gold1,451 634 108 
Copper363 204 35 
Total Boddington1,814 838 143 12 6 4 811 2,376 164 
Tanami867 337 110 2 30 (19)407 1,896 413 
Cadia (4)
Gold250 129 16 
Copper
172 116 14 
Total Cadia422 245 30 — 2 (13)158 6,351 75 
Telfer (4)
Gold135 126 6 
Copper17 22 1 
Total Telfer152 148 7 1 4 2 (10)574 9 
Lihir (4)
266 146 20 — 2 5 93 3,909 53 
Ahafo1,130 547 181 7 40 (14)369 2,823 310 
Akyem574 275 122 12 19 (5)151 1,069 40 
NGM2,271 1,249 452 11 29 98 432 7,401 472 
Total Reportable Segments
11,812 6,699 2,067 1,338 244 2,145 (681)45,662 2,694 
Corporate and Other— — 41 195 221 893 (1,350)9,844 51 
Consolidated$11,812 $6,699 $2,108 $1,533 $465 $3,038 $(2,031)$55,506 $2,745 
____________________________
(1)Segment presentation for the prior period has been recast due to the adoption of ASU 2023-07.
(2)Other Segment Expenses (Income) for all reportable segments includes Impairment charges, Other expense, net, and Other income (loss), net. Refer to Notes 7, 8, and 9, respectively, for further information. Additionally, Other Segment Expenses (Income) includes General and administrative and Interest expense, net of capitalized interest which are primarily incurred at the non-operating segment Corporate and Other.
(3)Primarily includes an increase in accrued capital expenditures of $79. Consolidated capital expenditures on a cash basis were $2,666.
(4)Sites acquired through the Newcrest transaction. Refer to Note 3 for further information.
(5)In June 2023, the National Union of Mine and Metal Workers of the Mexican Republic (the "Union") notified the Company of a strike action. In response to the strike notice, the Company suspended operations at Peñasquito. The Company reached an agreement with the Union and operations at Peñasquito resumed in the fourth quarter of 2023.
SalesCosts Applicable to SalesDepreciation and Amortization
Reclamation and Remediation (1)
Advanced Projects, Research and Development and Exploration
Other Segment Expenses (Income) (1)(2)
Income (Loss) before Income and Mining Tax and Other ItemsTotal Assets
Capital Expenditures (3)
Year Ended December 31, 2022
CC&V$333 $241 $71 $17 $11 $520 $(527)$286 $44 
Musselwhite305 195 79 2 8 (2)23 1,294 54 
Porcupine504 281 104 98 14 336 (329)1,401 152 
Éléonore391 266 115 2 5 (1)4 1,010 60 
Peñasquito: (4)
Gold1,006 442 148 
Silver549 454 151 
Lead133 94 32 
Zinc501 316 96 
Total Peñasquito2,189 1,306 427 13 19 21 403 6,430 183 
Merian723 369 80 2 21 2 249 923 56 
Cerro Negro508 283 148 3 25 500 (451)1,659 132 
Yanacocha451 313 95 639 22 (6)(612)2,225 439 
Boddington:
Gold1,447 652 118 
Copper316 181 34 
Total Boddington1,763 833 152 10 7 (18)779 2,264 72 
Tanami878 328 101 1 28 (2)422 1,585 343 
Ahafo1,023 566 167 4 26 (7)267 2,619 268 
Akyem749 334 141 6 14 (3)257 998 34 
NGM2,098 1,153 471 5 32 3 434 7,419 308 
Total Reportable Segments
11,915 6,468 2,151 802 232 1,343 919 30,113 2,145 
Corporate and Other— — 34 119 228 589 (970)8,369 45 
Consolidated$11,915 $6,468 $2,185 $921 $460 $1,932 $(51)$38,482 $2,190 
____________________________
(1)Segment presentation for the prior period has been recast due to the adoption of ASU 2023-07.
(2)Other Segment Expenses (Income) for all reportable segments includes Impairment charges, Other expense, net, and Other income (loss), net. Refer to Notes 7, 8, and 9, respectively, for more information. Additionally, Other Segment Expenses (Income) includes General and administrative and Interest expense, net of capitalized interest which are primarily incurred at the non-operating segment Corporate and Other.
(3)Includes an increase in accrued capital expenditures of $59. Consolidated capital expenditures on a cash basis were $2,131.
(4)Costs applicable to sales includes amounts resulting from the profit-sharing agreement completed with the Peñasquito workforce during the second quarter of 2022. Under the agreement, the Company will pay its workforce an uncapped profit-sharing bonus each year, based on the agreed upon terms. Additionally, the terms of the agreement are retroactively applied to profit-sharing related to 2021 site performance, resulting in $70 recorded within Costs applicable to sales in the second quarter of 2022. The amounts related to the 2021 profit-sharing were paid in the third quarter of 2022.
Long-lived Assets, Excluding Deferred Tax Assets, Investments and Restricted Cash, by Country
Long-lived assets, which consist of Property, plant and mine development, net, non-current Stockpiles and ore on leach pads, and non-current right-of-use assets, included in Other non-current assets, were as follows:
At December 31,
20242023
Australia$9,490 $9,373 
Canada (1)
8,358 8,789 
United States (1)
7,125 7,011 
Papua New Guinea4,514 3,140 
Mexico3,822 4,119 
Ghana (1)
2,755 2,626 
Peru2,203 2,254 
Argentina1,582 1,508 
Suriname726 726 
Other27 32 
$40,602 $39,578 
____________________________
(1)Canada, United States, and Ghana include $3,723, $434, and $565, respectively, of long-lived assets included in Assets held for sale. Refer to Note 3 for additional information.
v3.25.0.1
SALES (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Sales by Mining Operation, Product and Inventory Type
The following tables present the Company’s Sales by mining operation, product and inventory type:
Gold Sales from Doré ProductionSales from Concentrate and Other ProductionTotal Sales
Year Ended December 31, 2024
Brucejack
$415 $195 $610 
Red Chris:
Gold— 96 96 
Copper— 229 229 
Total Red Chris— 325 325 
Peñasquito:
Gold— 713 713 
Silver (1)
— 792 792 
Lead— 195 195 
Zinc— 622 622 
Total Peñasquito— 2,322 2,322 
Merian638 22 660 
Cerro Negro 566 — 566 
Yanacocha833 8 841 
Boddington:
Gold353 1,064 1,417 
Copper— 329 329 
Total Boddington353 1,393 1,746 
Tanami988 — 988 
Cadia:
Gold126 992 1,118 
Copper
— 743 743 
Total Cadia126 1,735 1,861 
Lihir
1,473 — 1,473 
Ahafo1,923 — 1,923 
NGM (2)
2,336 149 2,485 
Held for sale (3)
CC&V347 — 347 
Musselwhite 516 — 516 
Porcupine 673 — 673 
Éléonore 583 — 583 
Akyem495 — 495 
Divested (4)
Telfer:
Gold47 195 242 
Copper— 26 26 
Total Telfer47 221 268 
Consolidated$12,312 $6,370 $18,682 
____________________________
(1)Silver sales from concentrate includes $91 related to non-cash amortization of the silver streaming agreement liability.
(2)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $2,338.
(3)Refer to Note 3 for further information on held for sale.
(4)In the fourth quarter of 2024, the Company completed the sale of the assets of the Telfer reportable segment. Refer to Note 3 for further information.
Gold Sales from Doré ProductionSales from Concentrate and Other ProductionTotal Sales
Year Ended December 31, 2023
CC&V $332 $— $332 
Musselwhite351 — 351 
Porcupine503 — 503 
Éléonore453 — 453 
Brucejack (1)
48 24 72 
Red Chris: (1)
Gold— 9 9 
Copper— 23 23 
Total Red Chris— 32 32 
Peñasquito:
Gold36 221 257 
Silver (2)
— 335 335 
Lead— 96 96 
Zinc— 213 213 
Total Peñasquito36 865 901 
Merian600 25 625 
Cerro Negro510 — 510 
Yanacocha526 11 537 
Boddington:
Gold359 1,092 1,451 
Copper— 363 363 
Total Boddington359 1,455 1,814 
Tanami867 — 867 
Cadia: (1)
Gold28 222 250 
Copper— 172 172 
Total Cadia
28 394 422 
Telfer: (1)
Gold20 115 135 
Copper— 17 17 
Total Telfer
20 132 152 
Lihir (1)
266 — 266 
Ahafo1,130 — 1,130 
Akyem574 — 574 
NGM (2)
2,178 93 2,271 
Consolidated$8,781 $3,031 $11,812 
____________________________
(1)Sites acquired through the Newcrest transaction. Refer to Note 3 for further information.
(2)Silver sales from concentrate includes $42 related to non-cash amortization of the silver streaming agreement liability.
(3)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $2,174.
Gold Sales from Doré ProductionSales from Concentrate and Other ProductionTotal Sales
Year Ended December 31, 2022
CC&V$328 $5 $333 
Musselwhite305 — 305 
Porcupine 504 — 504 
Éléonore391 — 391 
Peñasquito:
Gold110 896 1,006 
Silver (1)
— 549 549 
Lead— 133 133 
Zinc— 501 501 
Total Peñasquito110 2,079 2,189 
Merian723 — 723 
Cerro Negro508 — 508 
Yanacocha446 5 451 
Boddington:
Gold366 1,081 1,447 
Copper— 316 316 
Total Boddington366 1,397 1,763 
Tanami878 — 878 
Ahafo1,023 — 1,023 
Akyem749 — 749 
NGM (2)
2,026 72 2,098 
Consolidated$8,357 $3,558 $11,915 
____________________________
(1)Silver sales from concentrate includes $73 related to non-cash amortization of the silver streaming agreement liability.
(2)The Company purchases its proportionate share of gold doré from NGM for resale to third parties. Gold doré purchases from NGM totaled $2,022.
At December 31, 2024, Newmont had the following provisionally priced concentrate sales subject to final pricing over the next several months:
Provisionally Priced Sales
Subject to Final Pricing (1)
Average Provisional
Price (per ounce/pound)
Gold (ounces, in thousands)265 $2,635 
Copper (pounds, in millions)85 $3.99 
Silver (ounces, in millions)6 $28.99 
Lead (pounds, in millions)52 $0.88 
Zinc (pounds, in millions)114 $1.34 
____________________________
(1)Includes provisionally priced by-product sales subject to final pricing, which are recognized in Costs applicable to sales.
Schedule of Revenues from Sales Based on the Customer's Location Revenues from sales attributed to countries based on the location of the customer were as follows:
Year Ended December 31,
202420232022
United Kingdom (1)
$10,966 $7,637 $7,537 
South Korea1,956 975 1,426 
Japan1,920 512 442 
Philippines709 451 340 
Switzerland
638 600 721 
Mexico600 240 604 
Australia
409 376 7 
United States2 48 24 
Other
1,482 973 814 
$18,682 $11,812 $11,915 
____________________________
(1)Includes $91, $42, and $73 related to non-cash amortization of the silver streaming agreement liability for the years ended December 31, 2024, 2023, and 2022, respectively.
v3.25.0.1
RECLAMATION AND REMEDIATION (Tables)
 12 Months Ended
Dec. 31, 2024
Environmental Remediation Obligations [Abstract]  
Reclamation and Remediation Expense
The Company’s Reclamation and remediation expense consisted of:
Year Ended December 31,
202420232022
Reclamation adjustments and other$(108)$1,207 $646 
Reclamation accretion365 238 173 
Reclamation expense257 1,445 819 
Remediation adjustments and other64 81 96 
Remediation accretion7 7 6 
Remediation expense71 88 102 
Reclamation and remediation$328 $1,533 $921 
Reconciliation of Reclamation Liabilities
The following are reconciliations of Reclamation and remediation liabilities:
ReclamationRemediationTotal
Balance at January 1, 2023
$6,731 $373 $7,104 
Additions, changes in estimates and other1,246 65 1,311 
Additions from the Newcrest transaction401 — 401 
Payments, net(231)(44)(275)
Accretion expense238 7 245 
Balance at December 31, 2023
8,385 401 8,786 
Additions, changes in estimates and other41 44 85 
Acquisitions and divestitures (4)
71 — 71 
Payments, net(351)(82)(433)
Accretion expense365 7 372 
Reclassification to Liabilities held for sale
(1,496)— (1,496)
Balance at December 31, 2024
$7,015 $370 $7,385 
At December 31,
20242023
ReclamationRemediationTotalReclamationRemediationTotal
Current (1)
$928 $63 $991 $558 $61 $619 
Non-current (2)
6,087 307 6,394 7,827 340 8,167 
Total (3)
$7,015 $370 $7,385 $8,385 $401 $8,786 
____________________________
(1)The current portion of reclamation and remediation liabilities are included in Other current liabilities. Refer to Note 22.
(2)The non-current portion of reclamation and remediation liabilities are included in Reclamation and remediation liabilities.
(3)Total reclamation liabilities includes $4,546 and $4,804 related to Yanacocha at December 31, 2024 and 2023, respectively.
(4)During 2024, measurement period adjustments of $349 increased Reclamation and remediation liabilities from refinements to the preliminary valuation of the Newcrest sites. These adjustments were partially offset by $278 as a result of the sale of the assets of the Telfer reportable segment in the fourth quarter of 2024.
Reconciliation of Remediation Liabilities
The following are reconciliations of Reclamation and remediation liabilities:
ReclamationRemediationTotal
Balance at January 1, 2023
$6,731 $373 $7,104 
Additions, changes in estimates and other1,246 65 1,311 
Additions from the Newcrest transaction401 — 401 
Payments, net(231)(44)(275)
Accretion expense238 7 245 
Balance at December 31, 2023
8,385 401 8,786 
Additions, changes in estimates and other41 44 85 
Acquisitions and divestitures (4)
71 — 71 
Payments, net(351)(82)(433)
Accretion expense365 7 372 
Reclassification to Liabilities held for sale
(1,496)— (1,496)
Balance at December 31, 2024
$7,015 $370 $7,385 
At December 31,
20242023
ReclamationRemediationTotalReclamationRemediationTotal
Current (1)
$928 $63 $991 $558 $61 $619 
Non-current (2)
6,087 307 6,394 7,827 340 8,167 
Total (3)
$7,015 $370 $7,385 $8,385 $401 $8,786 
____________________________
(1)The current portion of reclamation and remediation liabilities are included in Other current liabilities. Refer to Note 22.
(2)The non-current portion of reclamation and remediation liabilities are included in Reclamation and remediation liabilities.
(3)Total reclamation liabilities includes $4,546 and $4,804 related to Yanacocha at December 31, 2024 and 2023, respectively.
(4)During 2024, measurement period adjustments of $349 increased Reclamation and remediation liabilities from refinements to the preliminary valuation of the Newcrest sites. These adjustments were partially offset by $278 as a result of the sale of the assets of the Telfer reportable segment in the fourth quarter of 2024.
v3.25.0.1
IMPAIRMENT CHARGES (Tables)
 12 Months Ended
Dec. 31, 2024
Asset Impairment Charges [Abstract]  
Schedule of Impairment of Long-Lived Assets and Goodwill
Year Ended December 31,
202420232022
Long-lived and other assets (1)
Total
Long-lived and other assets (1)
GoodwillTotal
Long-lived and other assets (1)
GoodwillTotal
NGM (2)
$25 $25 $75 $11 $86 $1 $— $1 
Peñasquito19 19 21 1,210 1,231 4 — 4 
Cerro Negro2 2 5 — 5 — 459 459 
CC&V (3)
1 1 4 — 4 511 — 511 
Musselwhite (3)
— — 4 293 297 — — — 
Éléonore (3)
— — — 246 246 — — — 
Porcupine (3)
— — 5 — 5 — 341 341 
Other
31 31 17 — 17 4 — 4 
Impairment charges
$78 $78 $131 $1,760 $1,891 $520 $800 $1,320 
____________________________
(1)Primarily relates to non-cash write-downs of materials and supplies inventory and various assets that are no longer in use, except for certain impairment charges recognized for the year ended December 31, 2022 as described below.
(2)At December 31, 2024 and 2023, the Company recognized its proportionate share of the non-cash impairment charge on long-lived assets at NGM. The impairment charge resulted in a remaining balance of $2 and $22 within Property, plant and mine development, net at December 31, 2024 and 2023, respectively. The remaining balances were estimated based on observable market values for comparable assets for the individual assets that were determined to have residual market value.
(3)Sites are classified as held for sale as of December 31, 2024. Refer to Note 3 for further information.
v3.25.0.1
OTHER EXPENSE, NET (Tables)
 12 Months Ended
Dec. 31, 2024
Operating Costs and Expenses [Abstract]  
Schedule of Other Expense, Net
Year Ended December 31,
202420232022
Newcrest transaction and integration costs (1)
$72 $464 $— 
Settlement costs (2)
44 7 22 
Restructuring and severance (3)
38 24 4 
COVID-19 specific costs (4)
— 1 38 
Other37 21 18 
Other expense, net$191 $517 $82 
____________________________
(1)Related to the Newcrest transaction; refer to Note 3 for further information. For the year ended December 31, 2023, primarily comprised of a $316 stamp duty tax incurred in connection with the Newcrest transaction.
(2)Primarily relates to legal and other settlements, voluntary contributions, and other related costs. For the year ended December 31, 2024, primarily comprised of wind-down and demobilization costs related to the French Guiana project.
(3)Primarily represents severance and related costs associated with significant organizational and operating model changes implemented by the Company.
(4)Represents incremental direct costs incurred as a result of actions taken to protect against the impacts of the COVID-19 pandemic and to comply with local mandates. Beginning January 1, 2023, COVID-19 specific costs incurred in the ordinary course of business are recognized in Costs applicable to sales.
v3.25.0.1
OTHER INCOME (LOSS), NET (Tables)
 12 Months Ended
Dec. 31, 2024
Other Income, Nonoperating [Abstract]  
Schedule of Other Income (Loss), Net

Year Ended December 31,
202420232022
Interest income$152 $148 $78 
Foreign currency exchange
101 (56)(5)
Change in fair value of investments and options
62 (47)(46)
Gain (loss) on asset and investment sales (1)
35 (197)35 
Gain on debt extinguishment (2)
32 — — 
Insurance proceeds (3)
12 37 14 
Pension settlements (4)
(1)(9)(137)
Other
32 36 34 
Other income (loss), net$425 $(88)$(27)
____________________________
(1)Primarily consists of the gain on sale of the Stream Credit Facility Agreement ("SCFA") of $49 partially offset by the loss of $29 related to the abandonment of the near-pit sizing and conveying system at Peñasquito for the year ended December 31, 2024; the loss of $235 related to the abandonment of the pyrite leach plant at Peñasquito for the year ended December 31, 2023; and the sale of the Company's 18.75% interest in Minera Agua Rica Alumbrera Limited ("MARA") for $61 for the year ended December 31, 2022.
(2)In 2024, the Company partially redeemed certain Senior Notes, resulting in a gain on extinguishment of $38, which is partially offset by the acceleration of $6 loss from Accumulated other comprehensive income (loss) related to the previously terminated interest rate cash flow hedges. Refer to Note 20 for additional information.
(3)For the year ended December 31, 2024, primarily consists of insurance proceeds received of $12 related to a conveyor failure at Ahafo. For the year ended December 31, 2023, primarily consists of insurance proceeds received of $45 and $11 related to Tanami due to significant rainfall and flooding in early 2023 and a conveyor failure at Ahafo, respectively. Of these amounts, $31 and $6, respectively, were recognized in Other income (loss), net, and primarily relate to business interruption coverage. The remaining amounts were recognized within Costs applicable to sales.
(4)Primarily represents pension settlement charges due to the pension annuitization in 2022 and lump sum payments to participants. For additional information regarding pension and other post-employment benefits, refer to Note 11.
v3.25.0.1
INCOME AND MINING TAXES (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income and Mining Tax (Expense) Benefit - Current vs Deferred
The Company’s Income and mining tax benefit (expense) consisted of:
Year Ended December 31,
202420232022
Current:
United States$(93)$(20)$(47)
Foreign(1,224)(610)(686)
(1,317)(630)(733)
Deferred:
United States(157)62 236 
Foreign77 42 42 
(80)104 278 
Income and mining tax benefit (expense)$(1,397)$(526)$(455)
Income and Mining Tax (Expense) Benefit - Domestic vs Foreign
The Company’s Income (loss) before income and mining tax and other items consisted of:
Year Ended December 31,
202420232022
United States$536 $111 $(566)
Foreign4,041 (2,142)515 
Income (loss) before income and mining tax and other items$4,577 $(2,031)$(51)
Income and Mining Tax Expense Reconciliation
The Company’s Income and mining tax benefit (expense) differed from the amounts computed by applying the United States statutory corporate income tax rate for the following reasons:
Year Ended December 31,
202420232022
Income (loss) before income and mining tax and other items$4,577 $(2,031)$(51)
U.S. Federal statutory tax rate21 %(961)21 %427 21 %11 
Reconciling items:
Percentage depletion(1)63 4 72 90 46 
Change in valuation allowance on deferred tax assets(8)302 (18)(358)(569)(290)
Rate differential for foreign earnings indefinitely reinvested9 (398)7 148 (151)(77)
Mining and other taxes (net of associated federal benefit)5 (237)(4)(87)(231)(118)
Uncertain tax positions (1)
(1)63 1 28 261 133 
Akyem recognition of DTL for assets held for sale
1 (49)— — — — 
Goodwill write-downs — — (25)(498)(482)(246)
Expiration of U.S. capital losses and foreign tax credits1 (47)(10)(195)(61)(31)
Transactions— — — (1)100 51 
Other (2)
4 (133)(2)(62)130 66 
Income and mining tax benefit (expense)31 %$(1,397)(26)%$(526)(892)%$(455)
____________________________
(1)Includes net tax benefit of $125, primarily consisting of a reduction in the related uncertain tax position of $95 and a valuation release of $29 for the full settlement with the Mexican Tax Authority entered into during the second quarter of 2022.
(2)Primarily consists of the impact of foreign exchange and earnings, the U.S. tax effect of minority interest attributable to non-U.S. investees, and the impact of return to provision adjustments.
Components of Deferred Tax Assets (Liabilities)
Components of the Company's deferred income tax assets (liabilities) are as follows:
At December 31,
20242023
Deferred income tax assets:
Property, plant and mine development$887 $746 
Inventory132 320 
Reclamation and remediation2,077 2,362 
Net operating losses, capital losses and tax credits 2,297 2,655 
Employee-related benefits24 97 
Derivative instruments and unrealized loss on investments79 69 
Foreign exchange and financing obligations
58 86 
Silver streaming agreement
253 332 
Other555 643 
6,362 7,310 
Valuation allowances(4,363)(4,652)
$1,999 $2,658 
Deferred income tax liabilities:
Property, plant and mine development$(3,749)$(4,425)
Inventory(132)(160)
Investment in partnerships and subsidiaries (582)(579)
Other(232)(213)
(4,695)(5,377)
Net deferred income tax assets (liabilities)$(2,696)$(2,719)
Schedule of Unrecognized Tax Benefits Roll Forward
The Company’s Income and mining tax benefit (expense) differed from the amounts computed by applying the United States statutory corporate income tax rate for the following reasons:
Year Ended December 31,
202420232022
Income (loss) before income and mining tax and other items$4,577 $(2,031)$(51)
U.S. Federal statutory tax rate21 %(961)21 %427 21 %11 
Reconciling items:
Percentage depletion(1)63 4 72 90 46 
Change in valuation allowance on deferred tax assets(8)302 (18)(358)(569)(290)
Rate differential for foreign earnings indefinitely reinvested9 (398)7 148 (151)(77)
Mining and other taxes (net of associated federal benefit)5 (237)(4)(87)(231)(118)
Uncertain tax positions (1)
(1)63 1 28 261 133 
Akyem recognition of DTL for assets held for sale
1 (49)— — — — 
Goodwill write-downs — — (25)(498)(482)(246)
Expiration of U.S. capital losses and foreign tax credits1 (47)(10)(195)(61)(31)
Transactions— — — (1)100 51 
Other (2)
4 (133)(2)(62)130 66 
Income and mining tax benefit (expense)31 %$(1,397)(26)%$(526)(892)%$(455)
____________________________
(1)Includes net tax benefit of $125, primarily consisting of a reduction in the related uncertain tax position of $95 and a valuation release of $29 for the full settlement with the Mexican Tax Authority entered into during the second quarter of 2022.
(2)Primarily consists of the impact of foreign exchange and earnings, the U.S. tax effect of minority interest attributable to non-U.S. investees, and the impact of return to provision adjustments.
A reconciliation of the beginning and ending amount of gross unrecognized tax benefits, exclusive of interest and penalties, is as follows:
202420232022
Total amount of gross unrecognized tax benefits at beginning of year$144 $190 $245 
Additions (reductions) for tax positions of prior years (8)13 (1)
Additions for tax positions of current year — 2 — 
Reductions due to settlements with taxing authorities (2)(18)(53)
Reductions due to lapse of statute of limitations (23)(43)(1)
Total amount of gross unrecognized tax benefits at end of year$111 $144 $190 
v3.25.0.1
EMPLOYEE-RELATED BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Current and Long-Term Employee-Related Benefits
At December 31,
20242023
Current:
Accrued payroll and withholding taxes $461 $477 
Workers’ participation and other bonuses108 10 
Accrued severance19 13 
Other post-retirement benefit plans11 11 
Employee pension benefits 5 6 
Other employee-related payables 26 34 
$630 $551 
Non-current:
Accrued severance$386 $439 
Other post-retirement benefit plans 55 66 
Employee pension benefits 29 35 
Other employee-related payables 85 115 
$555 $655 
Schedule of Reconciliation of Changes in the Obligations and Fair Value of Pension and Other Benefits
The following tables provide a reconciliation of changes in the plans’ benefit obligations and assets’ fair values for 2024 and 2023:
Pension BenefitsOther Benefits
2024202320242023
Change in benefit obligation:
Benefit obligation at beginning of year$325 $311 $71 $66 
Service cost14 12 1 1 
Interest cost17 17 4 4 
Actuarial loss (gain)(14)17 (10)4 
Foreign currency exchange (gain) loss(6)3 (2)— 
Benefits paid(20)(7)(4)(4)
Amendments— 2 — — 
Settlement payments(3)(30)— — 
Projected benefit obligation at end of year$313 $325 $60 $71 
Accumulated benefit obligation$294 $306 $60 $71 
Change in fair value of assets:
Fair value of assets at beginning of year$322 $311 $— $— 
Actual return (loss) on plan assets11 32 — — 
Foreign currency exchange gain (loss)(4)2 — — 
Employer contributions7 14 4 4 
Benefits paid(20)(7)(4)(4)
Settlement payments(3)(30)— — 
Fair value of assets at end of year$313 $322 $— $— 
(Unfunded) funded status, net:$— $(3)$(60)$(71)
Amounts recognized in the Consolidated Balance Sheets:
Other non-current assets (1)
$37 $38 $— $— 
Employee-related benefits, current(5)(6)(5)(6)
Employee-related benefits, non-current (1)
(32)(35)(55)(65)
Net amounts recognized$— $(3)$(60)$(71)
____________________________
(1)Includes $4 of non-current assets and $3 of non-current liabilities related to the pension plan at Porcupine that were reclassified to Assets held for sale and Liabilities held for sale as of December 31, 2024.
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets The following table provides information for the Company's defined benefit pensions plans that had aggregate accumulated benefit obligations and projected benefit obligations in excess of plan assets at December 31:
Pension Benefits (1)
20242023
Projected benefit obligation$39 $42 
Accumulated benefit obligation$32 $35 
Fair value of plan assets$2 $1 
____________________________
(1)Information for other benefit plans with an accumulated benefit obligations in excess of plan assets has not been included as all of the other benefit plans are unfunded.
Schedule of Net Pension and Other Employee Benefit Amounts Recognized in the Consolidated Balance Sheets
The following table provides the net pension and other benefits amounts recognized in Accumulated other comprehensive income (loss):
Pension BenefitsOther Benefits
At December 31,At December 31,
2024202320242023
Accumulated other comprehensive income (loss):
Net actuarial gain (loss)$(71)$(76)$33 $24 
Prior service credit2 4 — 1 
(69)(72)33 25 
Less: Income taxes15 16 (7)(5)
Total$(54)$(56)$26 $20 
Schedule of Components of the Net Periodic Pension and Other Benefits Costs
The following table provides components of the total benefit cost (income), inclusive of the net periodic pension and other benefits costs (credits):
Pension Benefit Costs (Credits)Other Benefit Costs (Credits)
Years Ended December 31,Years Ended December 31,
202420232022202420232022
Pension benefit cost (income), net: (1)
Service cost $14 $12 $15 $1 $1 $1 
Interest cost 17 17 19 4 4 3 
Expected return on plan assets (24)(23)(35)— — — 
Amortization, net1 (7)2 (2)(2)(3)
Net periodic benefit cost (income)8 (1)1 3 3 1 
Settlement cost1 9 137 — — — 
Total benefit cost (income)$9 $8 $138 $3 $3 $1 
____________________________
(1)Service costs are included in Costs applicable to sales or General and administrative and the other components of benefit costs are included in Other income (loss), net.
Schedule of Components Recognized in Other Comprehensive Income (Loss)
The following table provides the components recognized in Other comprehensive income (loss):
Pension BenefitsOther Benefits
Year Ended December 31,Year Ended December 31,
202420232022202420232022
Net loss (gain)$(1)$8 $(20)$(10)$3 $(20)
Amortization, net(1)7 (2)2 2 3 
Prior service cost
— 2 — — — — 
Settlements(1)(9)(137)— — — 
Total recognized in other comprehensive income (loss)$(3)$8 $(159)$(8)$5 $(17)
Total benefit cost (credit) and other comprehensive income (loss)$6 $16 $(21)$(5)$8 $(16)
Schedule of Significant Assumptions Used in Measuring the Benefit obligation and Net Periodic Pension Benefit Cost
The significant assumptions used in measuring the Company’s Total benefit cost (income) and Other comprehensive income (loss) were discount rate and expected return on plan assets:
Pension BenefitsOther Benefits
Year Ended December 31,Year Ended December 31,
202420232022202420232022
Weighted average assumptions used in measuring the net periodic benefit cost:
Discount rate (1)
5.33 %5.63 %4.09 %6.09 %6.10 %3.03 %
Expected return on plan assets 7.09 %6.38 %6.75 %N/AN/AN/A
____________________________
(1)Total benefit cost (income) and other comprehensive income (loss) for the Company's U.S. qualified defined benefit pension plan was remeasured due to the settlement accounting required from the retiree annuity purchase on March 25, 2022. The discount rate used for determining the Total benefit cost (income) and other comprehensive income (loss) reflected 3.03% from January 1, 2022 through March 25, 2022 and 4.09% from March 26, 2022 through December 31, 2022.
Schedule of Target and Actual Asset Allocations The following is a summary of the target asset allocations for 2024 and the actual asset allocation at December 31, 2024:
Asset AllocationTarget
Actual at December 31, 2024
Fixed income investments45 %44 %
World equity fund (U.S. and International equity investments)20 %20 %
International equity investments12 %12 %
U.S. equity investments 11 %11 %
Real estate
8 %9 %
High yield fixed income investments4 %4 %
Cash equivalents— %— %
Schedule of Plan Assets at Fair Value
The following table sets forth the Company’s pension plan assets measured at fair value:
Fair Value at December 31,
20242023
Commingled Funds:
Fixed income investments$143 $152 
World equity fund (U.S. and International equity investments)54 54 
International equity investments45 45 
U.S. equity investments34 34 
Real estate25 25 
High yield fixed income investments11 11 
312 321 
Cash equivalents1 1 
Total$313 $322 
Schedule of Expected Benefit Payments
Benefit payments expected to be paid to plan participants are as follows:
Pension PlanOther Benefits Plan
2025$21 $6 
2026$21 $6 
2027$21 $5 
2028$24 $5 
2029$24 $5 
Thereafter
$131 $26 
v3.25.0.1
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Assumptions Using a Monte Carlo Valuation Model
The grant date fair value of the market-related conditions for each PSU granted in 2024, 2023 or 2022 was determined using a Monte Carlo valuation model, which requires the input of the following subjective assumptions:
Year Ended December 31,
202420232022
Risk-free interest rate4.40%4.45%1.61%
Volatility range
17.50% - 76.70%
34.24% - 81.36%
31.78% - 81.77%
Weighted-average volatility47.71%55.24%54.89%
Expected term (years)333
Weighted-average fair market value$33.91$50.39$77.00
Schedule of Status and Activity of Non-Vested RSUs, PSUs, and SSUs
A summary of the status and activity of non-vested RSUs and PSUs for the year ended December 31, 2024 is as follows:
RSUPSU
Number of UnitsWeighted Average Grant-Date Fair ValueNumber of UnitsWeighted Average Grant-Date Fair Value
Non-vested at beginning of year2,102,567 $48.95 1,193,535 $60.60 
Granted2,509,780 $31.20 878,974 $28.00 
Vested(1,011,308)$50.60 (173,982)$65.41 
Forfeited(322,569)$35.91 (256,814)$48.22 
Non-vested at end of year3,278,470 $36.13 1,641,713 $44.58 
Schedule of Stock Based Compensation by Award
The Company recognized stock-based compensation as follows:
Year Ended December 31,
202420232022
Restricted stock units$63 $52 $49 
Performance leveraged stock units20 24 24 
Other (1)
6 4 3 
Total stock-based compensation
$89 $80 $76 
____________________________
(1)Other includes the Company's proportionate share of NGM stock compensation.
v3.25.0.1
FAIR VALUE ACCOUNTING (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair value on a Recurring Basis
The following tables set forth the Company’s assets and liabilities measured at fair value on a recurring (at least annually) and nonrecurring basis by level within the fair value hierarchy. As required by accounting guidance, assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
Fair Value at December 31, 2024
TotalLevel 1Level 2Level 3
Assets:
Cash and cash equivalents (1)
$3,619 $3,619 $— $— 
Restricted cash31 31 — — 
Trade receivables from provisional concentrate sales, net 993 — 993 — 
Assets held for sale (Note 3) (2)
1,840 — 1,168 672 
Equity method investments
212 212 — — 
Marketable and other equity securities (Note 15)
305 305 — — 
Restricted marketable debt securities (Note 15)
15 15 — — 
Derivative assets (Note 14)
142 — — 142 
Other assets (3)
61 — — 61 
$7,218 $4,182 $2,161 $875 
Liabilities:
Debt (4)
$8,400 $— $8,400 $— 
Derivative liabilities (Note 14)
143 — 137 6 
Other liabilities (5)
51 — 51 — 
$8,594 $— $8,588 $6 
Fair Value at December 31, 2023
TotalLevel 1Level 2Level 3
Assets:
Cash and cash equivalents (1)
$3,002 $3,002 $— $— 
Restricted cash98 98 — — 
Trade receivables from provisional concentrate sales, net 734 — 734 — 
Marketable and other equity securities (Note 15)
252 243 9 — 
Restricted marketable debt securities (Note 15)
21 21 — — 
Derivative assets (Note 14)
642 — 7 635 
$4,749 $3,364 $750 $635 
Liabilities:
Debt (4)
$8,975 $— $8,975 $— 
Derivative liabilities (Note 14)
8 — 3 5 
$8,983 $— $8,978 $5 
____________________________
(1)Cash and cash equivalents at December 31, 2024 and 2023 include term deposits that have an original maturity of three months or less.
(2)Assets held for sale at December 31, 2024 includes assets held for sale that were written down to their fair value, excluding costs to sell, of $1,840 at December 31, 2024. The aggregate fair value, excluding costs to sell, of net assets held for sale subject to fair value remeasurement was $679 at December 31, 2024.
(3)Consists of the contingent payments received through the Telfer Sale that do not meet the definition of a derivative and are considered to be a financial asset, for which the Company recorded at fair value at completion of the sale on December 4, 2024.
(4)Debt is carried at amortized cost. The outstanding carrying value was $8,476 and $8,874 at December 31, 2024 and December 31, 2023, respectively. The fair value measurement of debt was based on an independent third-party pricing source.
(5)Consists of the Greatland Option acquired through the Telfer Sale in the fourth quarter of 2024, refer to Notes 3 and 22 for further information.
Quantitative and Qualitative Information
The following tables set forth a summary of the quantitative and qualitative information related to the significant observable and unobservable inputs used in the calculation of the Company’s Level 3 financial assets and liabilities at December 31, 2024 and December 31, 2023:
DescriptionAt December 31, 2024Valuation techniqueSignificant inputRange, point estimate or averageWeighted Average Discount Rate
Assets held for sale
$672 Income approach
Various (1)
Various (1)
Various (1)
Derivative assets:
Hedging instruments (2)(3)
$94 
Income approach
Forward power prices
A$43.00- A$321.00
6.75%
Contingent consideration assets
$47 
Income approach
Discount rate
6.37% - 16.38%
10.67%
Other assets
$61 
Income approach
Discount rate
6.60%
6.60%
Derivative liabilities
$5 
Income approach
Discount rate
5.22% - 5.95%
5.66%
____________________________
(1)For assets held for sale for which a binding agreement was reached, the terms of the respective agreements were utilized to estimate the fair value and are considered to be a non-recurring fair value measurement under the income approach. For all other assets held for sale, refer to Note 3 for information on the assumptions and inputs specific to the non-recurring fair value measurement performed.
(2)The SCFA and the Cadia PPA, acquired as part of the Newcrest transaction, were not designated in a hedging relationship at December 31, 2023. At January 1, 2024, the Company designated the Cadia PPA for hedge accounting, and as a result is included within Hedging instruments at December 31, 2024. Additionally, in the second quarter of 2024, the Company sold the SCFA. Refer to Note 14 for further information.
(3)Hedging instruments consists of the net position of the Cadia PPA which is comprised of $1 is in a liability position and the non-current portion of $95 is in an asset position. The current liability portion is included in Derivative liabilities within the fair value hierarchy table and the non-current asset portion is included in Derivative assets within the fair value hierarchy table.
DescriptionAt December 31, 2023Valuation techniqueSignificant inputRange, point estimate or average
Weighted Average Discount Rate
Derivative assets
Derivative assets not designated for hedging
$424 
Income approach
Discount rate
6.28% - 10.50%
9.03%
Contingent consideration assets
$211 
Income approach
Discount rate
8.04% - 26.43%
11.18%
Derivative liabilities
$5 
Income approach
Discount rate
4.91% - 6.15%
5.65%
Changes in the Fair Value of the Company's Level 3 Financial Assets
The following tables set forth a summary of changes in the fair value of the Company’s recurring Level 3 financial assets and liabilities:
Derivative Assets (1)
Total Assets
Derivative Liabilities (2)
Total Liabilities
Fair value at December 31, 2022$188 $188 $3 $3 
Acquisitions
424 424 — — 
Revaluation gain (loss)
23 23 2 2 
Fair value at December 31, 2023635 635 5 5 
Settlements
(76)(76)— — 
Revaluation gain (loss)
(40)(40)1 1 
Sales (3)
(377)(377)— — 
Fair value at December 31, 2024$142 $142 $6 $6 
____________________________
(1)In 2024, the gain (loss) recognized on revaluation of derivative assets of $2, $(53), and $11 are included in Other income (loss), net, Other comprehensive income (loss), and Net income (loss) from discontinued operations, respectively. In 2023, the gain recognized on revaluation on derivative assets of $1 and $22 are included in Other income (loss), net and Net income (loss) from discontinued operations, respectively.
(2)In 2024, the loss recognized on revaluation of derivative liabilities of $1 is included in Other comprehensive income (loss). In 2023, the loss recognized on revaluation of derivative liabilities of $2 is included in Other income (loss), net.
(3)In the second quarter of 2024, the Company sold the SCFA resulting in a decrease of $281. In the third quarter of 2024, the Company sold the Batu and Elang Contingent consideration assets resulting in a decrease of $96. Refer to Note 14 for further information.
Changes in the Fair Value of the Company's Level 3 Financial Liabilities
The following tables set forth a summary of changes in the fair value of the Company’s recurring Level 3 financial assets and liabilities:
Derivative Assets (1)
Total Assets
Derivative Liabilities (2)
Total Liabilities
Fair value at December 31, 2022$188 $188 $3 $3 
Acquisitions
424 424 — — 
Revaluation gain (loss)
23 23 2 2 
Fair value at December 31, 2023635 635 5 5 
Settlements
(76)(76)— — 
Revaluation gain (loss)
(40)(40)1 1 
Sales (3)
(377)(377)— — 
Fair value at December 31, 2024$142 $142 $6 $6 
____________________________
(1)In 2024, the gain (loss) recognized on revaluation of derivative assets of $2, $(53), and $11 are included in Other income (loss), net, Other comprehensive income (loss), and Net income (loss) from discontinued operations, respectively. In 2023, the gain recognized on revaluation on derivative assets of $1 and $22 are included in Other income (loss), net and Net income (loss) from discontinued operations, respectively.
(2)In 2024, the loss recognized on revaluation of derivative liabilities of $1 is included in Other comprehensive income (loss). In 2023, the loss recognized on revaluation of derivative liabilities of $2 is included in Other income (loss), net.
(3)In the second quarter of 2024, the Company sold the SCFA resulting in a decrease of $281. In the third quarter of 2024, the Company sold the Batu and Elang Contingent consideration assets resulting in a decrease of $96. Refer to Note 14 for further information.
v3.25.0.1
DERIVATIVE INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
At December 31,
20242023
Current derivative assets:
Derivative assets, not designated for hedging (1)
$— $115 
Contingent consideration assets (2)
— 76 
Hedging instruments— 7 
$— $198 
Non-current derivative assets:
Derivative assets, not designated for hedging (1)
$— $309 
Contingent consideration assets (2)
47 135 
Hedging instruments (1)
95 — 
$142 $444 
Current derivative liabilities: (3)
Contingent consideration liabilities
$2 $3 
Hedging instruments (1)
136 — 
$138 $3 
Non-current derivative liabilities: (4)
Contingent consideration liabilities$5 $5 
____________________________
(1)The SCFA and the Cadia PPA, acquired as part of the Newcrest transaction, were not designated in a hedging relationship at December 31, 2023. At January 1, 2024, the Company designated the Cadia PPA for hedge accounting, and as a result is included within Hedging instruments at December 31, 2024. Additionally, in the second quarter of 2024, the Company sold the SCFA. See below for further information.
(2)Contingent consideration assets at December 31, 2023 included the Batu Hijau and Elang contingent consideration assets, which were sold in the third quarter of 2024. Refer below for further information.
(3)Included in Other current liabilities.
(4)Included in Other non-current liabilities.
The following table provides the fair value of the Company’s derivative instruments designated as cash flow hedges:
At December 31,
20242023
Hedging instrument assets:
Cadia PPA cash flow hedge, non-current (1)(2)
$95 $— 
Foreign currency cash flow hedges, current (3)
— 7 
$95 $7 
Hedging instrument liabilities:
Foreign currency cash flow hedges, current (4)
$135 $— 
Cadia PPA cash flow hedge, current (2)(4)
1 — 
$136 $— 
____________________________
(1)Included in non-current Derivative assets in the Company’s Consolidated Balance Sheets.
(2)At January 1, 2024, the Company designated the Cadia PPA for hedge accounting. As a result, the Cadia PPA is captured in Derivative instruments, not designated for hedging at December 31, 2023. See above for further information.
(3)Included in Derivative assets in the Company’s Consolidated Balance Sheets.
(4)Included in Other current liabilities in the Company's Consolidated Balance Sheets.
Derivative Instruments, Gain (Loss)
The following table provides the losses (gains) recognized in earnings related to the Company's derivative instruments designated for hedging:
Year Ended December 31,
202420232022
Loss (gain) on cash flow hedges:
Interest rate contracts (1)
$10 $5 $6 
Foreign currency cash flow hedges (2)
7 19 — 
Cadia PPA cash flow hedge (3)
5 — — 
$22 $24 $6 
____________________________
(1)Interest rate contracts relate to swaps entered into, and subsequently settled, associated with the issuance of the 2022 Senior Notes, 2035 Senior Notes, 2039 Senior Notes, and 2042 Senior Notes. The related gains and losses are reclassified from Accumulated other comprehensive income (loss) and amortized to Interest expense, net of capitalized interest over the term of the respective hedged notes. During the year ended December 31, 2024, $6 was reclassified to Other income (loss), net as a result of the redemption and tender offers of the 2042 Senior Notes. Refer to Note 20 for additional information.
(2)As of December 31, 2024, approximately $95 is expected to be reclassified out of Accumulated other comprehensive income (loss) into earnings over the next 12 months.
(3)As of December 31, 2024, approximately $10 is expected to be reclassified out of Accumulated other comprehensive income (loss) into earnings over the next 12 months.
Derivatives Not Designated as Hedging Instruments
The Company had the following contingent consideration assets and liabilities at December 31, 2024 and 2023:
At December 31,
20242023
Contingent Consideration Assets:
Red Lake (1)
$36 $39 
Batu Hijau and Elang (2)
— 161 
Other (1)
11 11 
$47 $211 
Contingent Consideration Liabilities: (3)
$7 $8 
____________________________
(1)Included in non-current Derivative assets.
(2)The Batu Hijau and Elang contingent consideration assets were sold in the third quarter of 2024. Refer below for further information. At December 31, 2023, $76 is included in current Derivative assets and $85 is included in non-current Derivative assets.
(3)At December 31, 2024, $2 and $5 is included in Other current liabilities and Other non-current liabilities, respectively. At December 31, 2023, $3 and $5 is included in Other current liabilities and Other non-current liabilities, respectively.
v3.25.0.1
INVESTMENTS (Tables)
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investments
At December 31,
20242023
Current investments:
Marketable equity securities
$21 $23 
Non-current investments:
Marketable and other equity securities (1)
$309 $229 
Equity method investments (% ownership): 
Pueblo Viejo Mine (40.0%)
1,516 1,489 
NuevaUnión Project (50.0%)
961 959 
Lundin Gold Inc. (32.0%)
941 938 
Norte Abierto Project (50.0%)
532 528 
Greatland (20.4%) (2)
212 — 
4,162 3,914 
$4,471 $4,143 
Non-current restricted investments: (3)
Marketable debt securities$15 $21 
____________________________
(1)Includes $25 accounted for under the measurement alternative.
(2)Acquired through the Telfer Sale in the fourth quarter of 2024 and accounted for under the fair value option, refer to Note 3 for further information.
(3)Non-current restricted investments are legally pledged for purposes of settling reclamation and remediation obligations and are included in Other non-current assets. For further information regarding these amounts, refer to Note 6.
v3.25.0.1
INVENTORIES (Tables)
 12 Months Ended
Dec. 31, 2024
Inventory Disclosure [Abstract]  
Summary of Inventories
At December 31,
20242023
Materials and supplies$1,081 $1,247 
In-process118 160 
Concentrate148 134 
Precious metals76 122 
Inventories (1)
$1,423 $1,663 
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for held for sale. As a result, at December 31, 2024 the related assets, including Inventories of $185, were reclassified to Assets held for sale. Refer to Note 3 for additional information.
The Company recorded write-downs classified as components of Costs applicable to sales and Depreciation and amortization to reduce the carrying value of inventories to net realizable value as follows:
Year Ended December 31,
2024 (1)
2023 (2)
2022 (3)
Costs applicable to sales
$44 $37 $6 
Depreciation and amortization
5 15 2 
$49 $52 $8 
____________________________
(1)For the year ended December 31, 2024, $34 was related to Telfer, $10 to Cerro Negro, $3 to Brucejack, $1 to Peñasquito, and $1 to NGM.
(2)For the year ended December 31, 2023, $35 was related to Peñasquito, $5 to Éléonore, $4 to Porcupine, $3 to Cerro Negro, $3 to Brucejack, and $2 to Telfer.
(3)For the year ended December 31, 2022, write-downs were immaterial at various sites.
v3.25.0.1
STOCKPILES AND ORE ON LEACH PADS (Tables)
 12 Months Ended
Dec. 31, 2024
STOCKPILES AND ORE ON LEACH PADS  
Stockpiles and Ore on Leach Pads
At December 31, 2024 (1)
At December 31, 2023
StockpilesOre on Leach PadsTotalStockpilesOre on Leach PadsTotal
Current$624 $137 $761 $746 $233 $979 
Non-current2,072 194 2,266 1,532 403 1,935 
Total$2,696 $331 $3,027 $2,278 $636 $2,914 
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for held for sale. As a result, at December 31, 2024 the related assets, including Stockpiles and ore on leach pads of $374, were reclassified to Assets held for sale. Refer to Note 3 for additional information.
The Company recorded write-downs classified as components of Costs applicable to sales and Depreciation and amortization to reduce the carrying value of stockpiles and ore on leach pads to net realizable value as follows:
Year Ended December 31,
2024 (1)
2023 (2)
2022 (3)
Costs applicable to sales
$48 $60 $156 
Depreciation and amortization
16 15 53 
$64 $75 $209 
____________________________
(1)For the year ended December 31, 2024, $37 was related to Red Chris, $26 to NGM, and $1 to Cerro Negro.
(2)For the year ended December 31, 2023, $52 was related to NGM, $11 to Peñasquito, $6 to Yanacocha, $2 to Akyem, $2 to Éléonore, and $2 to Telfer.
(3)For the year ended December 31, 2022, $71 was related to NGM, $49 to Yanacocha, $45 to CC&V, $28 to Akyem, $12 to Ahafo, and $4 to Merian.
v3.25.0.1
PROPERTY, PLANT AND MINE DEVELOPMENT (Tables)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Mine Development
Depreciable Life
(in years)
At December 31, 2024At December 31, 2023
CostAccumulated
Depreciation
Net Book
Value (1)
CostAccumulated
Depreciation		Net Book
Value
Land $253 $— $253 $347 $— $347 
Facilities and equipment (2)
1-26
23,362 (11,761)11,601 25,804 (12,925)12,879 
Mine development 
1-26
6,562 (3,533)3,029 7,223 (3,775)3,448 
Mineral interests 
1-26
17,050 (3,569)13,481 19,450 (3,360)16,090 
Construction-in-progress 5,183 — 5,183 4,799 — 4,799 
$52,410 $(18,863)$33,547 $57,623 $(20,060)$37,563 
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for held for sale. As a result, at December 31, 2024 the related assets, including Property, plant and mine development of $4,439, were reclassified to Assets held for sale. Refer to Note 3 for additional information.
(2)At December 31, 2024 and 2023, Facilities and equipment includes finance lease right of use assets of $482 and $531, respectively.
Depreciable Life
(in years)
At December 31, 2024At December 31, 2023
Mineral InterestsCostAccumulated
Depreciation
Net Book
Value (1)
CostAccumulated
Depreciation		Net Book
Value
Production stage 
1-26
$12,191 $(3,569)$8,622 $13,155 $(3,360)$9,795 
Development stage 
(2)
1,386 — 1,386 1,277 — 1,277 
Exploration stage 
(2)
3,473 — 3,473 5,018 — 5,018 
$17,050 $(3,569)$13,481 $19,450 $(3,360)$16,090 
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for held for sale. As a result, at December 31, 2024 the related assets, including $1,885 of mineral interests included in Property, plant and mine development, were reclassified to Assets held for sale. Refer to Note 3 for additional information.
(2)These amounts are currently non-depreciable as these mineral interests have not reached production stage.
v3.25.0.1
GOODWILL (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill by Segment
Changes in the carrying amount of goodwill by reportable segment were as follows:
Balance at December 31, 2022
Impairment (1)
Acquisitions (2)
Balance at December 31, 2023
Acquisitions (2)
Balance at December 31, 2024
Musselwhite$293 $(293)$— $— $— $— 
Éléonore246 (246)— — — — 
Brucejack
— — 1,087 1,087 (418)669 
Red Chris
— — 397 397 142 539 
Peñasquito (3)
1,164 (1,210)— — — — 
Cadia
— — 565 565 (316)249 
Lihir
— — 695 695 249 944 
NGM268 (11)— 257 — 257 
$1,971 $(1,760)$2,744 $3,001 $(343)$2,658 
____________________________
(1)Accumulated impairment of $2,560 consists of impairment charges incurred in 2022 and 2023 of $800, and $1,760 respectively.
(2)Amounts relate to goodwill recognized through the Newcrest transaction on November 6, 2023. During 2024, goodwill was subject to measurement period adjustments to the purchase price allocation. Refer to Note 3 for further information.
(3)For the year ended December 31, 2023, the Company recognized a prior period adjustment of $46 to goodwill and deferred tax liability for Peñasquito relating to a prior acquisition. This adjustment resulted in an increase to goodwill, which was fully offset by the impairment charge incurred in 2023.
v3.25.0.1
DEBT (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Debt Components, Current and Non-Current
At December 31, 2024At December 31, 2023
CurrentNon-Current
Fair Value (1)
CurrentNon-Current
Fair Value (1)
$2,000 Bilateral Bank Facilities due 2024 and 2026 (2)
$— $— $— $1,923 $— $1,927 
$1,000 5.30% Senior Notes due March 2026 (3)
924 — 948 — — — 
$700 2.80% Senior Notes due October 2029
— 633 587 — 693 645 
$650 3.25% Senior Notes due May 2030
— 554 583 — 557 597 
$1,000 2.25% Senior Notes due October 2030
— 872 765 — 989 872 
$1,000 2.60% Senior Notes due July 2032
— 821 713 — 992 868 
$1,000 5.35% Senior Notes due March 2034
— 987 1,012 — — — 
$600 5.875% Senior Notes due April 2035
— 581 625 — 580 654 
$1,100 5.875% Senior Notes due October 2039
— 861 934 — 861 986 
$500 5.75% Senior Notes due November 2041
— 457 500 — 456 535 
$1,000 4.875% Senior Notes due March 2042
— 949 891 — 986 991 
$450 5.45% Senior Notes due June 2044
— 479 435 — 480 462 
$500 4.20% Senior Notes due May 2050
— 363 407 — 361 438 
Debt issuance costs on Corporate Revolving Credit Facilities
— (5)— — (4)— 
$924 $7,552 $8,400 $1,923 $6,951 $8,975 
____________________________
(1)The estimated fair value of the Senior Notes was determined by an independent third-party pricing source and may or may not reflect the actual trading value of this debt. Carrying value of the bilateral bank facilities approximates fair value.
(2)Interest rates on the bilateral bank facilities are variable. Refer to "Corporate Revolving Credit Facilities and Letters of Credit Facilities" below for further information.
(3)The Company fully redeemed all of the outstanding 2026 Senior Notes in February 2025. Refer below for further information.
Schedule of Minimum Debt Repayments
Maturities for the next five years, and thereafter, are as follows:
Year Ending December 31,
2025 (1)
$928 
2026— 
2027— 
2028— 
2029638 
Thereafter7,225 
Total face value of debt8,791 
Unamortized premiums, discounts, and issuance costs(315)
Debt$8,476 
____________________________
(1)The Company fully redeemed all of the outstanding 2026 Senior Notes in February 2025. Refer below for further information.
Schedule of Debt Instrument Redemption The following table summarizes the partial redemptions:
Settled Notional Amount
Total Repurchase Amount (1)
$1,000 5.30% Senior Notes due March 2026
$72 $74 
$700 2.80% Senior Notes due October 2029
62 58 
$650 3.25% Senior Notes due May 2030
17 16 
$1,000 2.25% Senior Notes due October 2030
120 107 
$1,000 2.60% Senior Notes due July 2032
174 150 
$1,000 4.875% Senior Notes due March 2042 (2)
38 36 
$483 $441 
____________________________
(1)Includes $4 of accrued interest.
(2)As a result of the partial redemption, the Company accelerated a loss of $6 from Accumulated other comprehensive income (loss) to Other income (loss), net for the year ended December 31, 2024 related to previously terminated interest rate swaps.
v3.25.0.1
LEASE AND OTHER FINANCING OBLIGATIONS (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Lease Cost
Total lease cost includes the following components:
Year Ended December 31,
20242023
Operating lease cost$27 $23 
Finance lease cost:
Amortization of ROU assets91 78 
Interest on lease liabilities35 32 
126 110 
Variable lease cost509 298 
Short-term lease cost76 24 
$738 $455 
Supplemental cash flow information related to leases includes the following:
Year Ended December 31,
20242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows relating to operating leases$20 $23 
Operating cash flows relating to finance leases$34 $33 
Financing cash flows relating to finance leases$87 $67 
Non-cash lease obligations arising from obtaining ROU assets:(1)
Operating leases$10 $23 
Finance leases$59 $53 
____________________________
(1)For the year ended December 31, 2023, operating and finance lease obligations assumed in relation to the Newcrest transaction were $13 and $51, respectively.
Schedule of Lease Terms and Discount Rates
Information related to lease terms and discount rates is as follows:
Operating LeasesFinance Leases
Weighted average remaining lease term (years)88
Weighted average discount rate4.35 %6.36 %
Schedule of Future Minimum Lease Payments, Operating Leases
Future minimum lease payments under non-cancellable leases as of December 31, 2024, were as follows:
Operating
Leases (1)
Finance Leases
2025$20 $116 
202614 96 
202713 77 
202811 71 
202910 46 
Thereafter31 252 
Total future minimum lease payments99 658 
Less: Imputed interest(12)(162)
Total$87 $496 
____________________________
(1)The current and non-current portion of operating lease liabilities are included in Other current liabilities and Other non-current liabilities, respectively, on the Consolidated Balance Sheets.
Schedule of Future Minimum Lease Payments, Finance Leases
Future minimum lease payments under non-cancellable leases as of December 31, 2024, were as follows:
Operating
Leases (1)
Finance Leases
2025$20 $116 
202614 96 
202713 77 
202811 71 
202910 46 
Thereafter31 252 
Total future minimum lease payments99 658 
Less: Imputed interest(12)(162)
Total$87 $496 
____________________________
(1)The current and non-current portion of operating lease liabilities are included in Other current liabilities and Other non-current liabilities, respectively, on the Consolidated Balance Sheets.
v3.25.0.1
OTHER LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2024
Other Liabilities Disclosure [Abstract]  
Other Liabilities
At December 31,
20242023
Other current liabilities:
Reclamation and remediation liabilities$991 $619 
Accrued operating costs (1)
468 473 
Accrued capital expenditures208 320 
Accrued royalties
165 137 
Hedging instruments (2)
136 — 
Payables to NGM (3)
115 91 
Silver streaming agreement76 87 
Stamp duty on Newcrest transaction (4)
29 316 
Other (5)
293 319 
$2,481 $2,362 
Other non-current liabilities:
Income and mining taxes (6)
$125 $177 
Greatland Option (7)
51 — 
Other (8)
112 139 
$288 $316 
____________________________
(1)Includes an estimated compensation payment to the Worsley JV related to the waiver of certain rights within the cross-operation agreement that confers priority to the bauxite operations at the Boddington mine.
(2)Refer to Note 14 for additional information.
(3)Payables to NGM at December 31, 2024 and December 31, 2023 consist of amounts due to (from) NGM representing Barrick's 61.5% proportionate share of the amount owed to NGM for gold and silver purchased by Newmont. Newmont’s 38.5% share of such amounts is eliminated upon proportionate consolidation of its interest in NGM. Receivables for Newmont's 38.5% proportionate share related to NGM's activities with Barrick are presented within Other current assets.
(4)Incurred as a result of the Newcrest transaction. Refer to Note 8 for further information. Payment of $291 occurred in the first quarter of 2024.
(5)Primarily consists of accrued interest on debt and taxes other than income and mining taxes.
(6)Primarily consists of unrecognized tax benefits, including penalties and interest.
(7)Acquired through the Telfer Sale in the fourth quarter of 2024 and accounted for under the fair value option. Refer to Notes 3 and 15 for further information.
(8)Primarily consists of the non-current portion of operating lease liabilities.
v3.25.0.1
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)​ (Tables)
 12 Months Ended
Dec. 31, 2024
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Schedule of Change in Accumulated Other Comprehensive Income (Loss)
Unrealized Gain (Loss) on Hedge Instruments
Pension and Other Post-retirement Benefit Adjustments
Other Adjustments
Total
Balance at December 31, 2022$(69)$(27)$125 $29 
Net current-period other comprehensive income (loss):
Gain (loss) in other comprehensive income (loss) before reclassifications(19)(9)(5)(33)
(Gain) loss reclassified from accumulated other comprehensive income (loss)18 — — 18 
Other comprehensive income (loss)(1)(9)(5)(15)
Balance at December 31, 2023(70)(36)120 14 
Net current-period other comprehensive income (loss):
Gain (loss) in other comprehensive income (loss) before reclassifications(140)8 5 (127)
(Gain) loss reclassified from accumulated other comprehensive income (loss)17 — 1 18 
Other comprehensive income (loss)(123)8 6 (109)
Balance at December 31, 2024$(193)$(28)$126 $(95)
Schedule of Reclassifications out of Accumulated Other Comprehensive Income (Loss)
Details about Accumulated Other Comprehensive Income (Loss) ComponentsAmount Reclassified from Accumulated Other Comprehensive Income (Loss)Affected Line Item in the Consolidated Statements of Operations
Year Ended December 31,
202420232022
Hedge instruments adjustments:
Interest rate contracts$10 $5 $6 
Interest expense, net of capitalized interest
Foreign currency cash flow hedges7 19 — 
Costs applicable to sales
Amortization
5 — — 
Costs applicable to sales
Total before tax22 24 6 
Tax(5)(6)(1)
Net of tax$17 $18 $5 
Pension and other post-retirement benefit adjustments:
Settlement$1 $9 $137 Other income (loss), net
Amortization(1)(9)(1)Other income (loss), net
Total before tax— — 136 
Tax— — (29)
Net of tax$— $— $107 
Other adjustments:
Sale of marketable securities$1 $— $— Other income (loss), net
Total before tax1 — — 
Tax— — — 
Net of tax$1 $— $— 
Total reclassifications for the period, net of tax$18 $18 $112 
v3.25.0.1
NET CHANGE IN OPERATING ASSETS AND LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2024
Increase (Decrease) in Operating Capital [Abstract]  
Net Change in Operating Assets and Liabilities
Net cash provided by (used in) operating activities of continuing operations attributable to the net change in operating assets and liabilities is composed of the following:
Year Ended December 31,
2024 (1)
20232022
Decrease (increase) in operating assets:
Trade and other receivables $(441)$(240)$5 
Inventories, stockpiles and ore on leach pads (534)(187)(161)
Other assets 64 50 (84)
Increase (decrease) in operating liabilities:
Accounts payable(2)(42)102 
Reclamation and remediation liabilities (433)(275)(247)
Accrued tax liabilities235 (197)(343)
Other accrued liabilities (2)
86 378 (113)
$(1,025)$(513)$(841)
____________________________
(1)During the first quarter of 2024, certain non-core assets were determined to meet the criteria for assets held for sale. As a result, the related assets and liabilities were reclassified to Assets held for sale and Liabilities held for sale, respectively. Amounts herein reflect the net change in the related operating assets and liabilities prior to being reclassified as held for sale. Refer to Note 3 for additional information.
(2)Primarily consists of payment of $291 made in the first quarter of 2024 for stamp duty tax largely accrued in the fourth quarter of 2023 in connection with the Newcrest transaction.
v3.25.0.1
THE COMPANY (Details)
$ in Millions
 1 Months Ended 3 Months Ended 12 Months Ended
Nov. 06, 2023
USD ($)
Feb. 29, 2024
asset
Sep. 30, 2024
USD ($)
Mar. 31, 2024
asset
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Business Acquisition [Line Items]                
Net income (loss) attributable to noncontrolling interest         $ 33 $ 27 $ 60  
Distributions to noncontrolling interests         161 150 191  
Net income (loss) from discontinued operations (Note 1)         68 27 30  
Income tax benefit (expense)         31 (5) (4)  
Holt Property Royalty                
Business Acquisition [Line Items]                
Royalties received         $ 45 $ 9 $ 22  
Minera Yanacocha                
Business Acquisition [Line Items]                
Total shares repurchased (as a percent)             5.00%  
Minera Yanacocha | Summit Global Management II V B                
Business Acquisition [Line Items]                
Proceeds from sale of stock             $ 48  
Minera Yanacocha                
Business Acquisition [Line Items]                
Net income (loss) attributable to noncontrolling interest             $ 1  
Economic interest (as a percent)         100.00% 100.00% 100.00% 51.35%
Minera Yanacocha | Buenaventura                
Business Acquisition [Line Items]                
Distributions to noncontrolling interests             $ 300  
Purchase of noncontrolling interest, contingent consideration             $ 100  
Minera Yanacocha | Buenaventura                
Business Acquisition [Line Items]                
Noncontrolling interest, ownership percentage by noncontrolling owners (as a percent)             43.65%  
Primary Beneficiary | Merian                
Business Acquisition [Line Items]                
Ownership interest held by parent (as a percent)         75.00%      
Net income (loss) attributable to noncontrolling interest         $ 33 $ 27 $ 59  
Newcrest Mining Limited                
Business Acquisition [Line Items]                
Total Purchase Price $ 13,549              
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program                
Business Acquisition [Line Items]                
Number of non-core assets to be divested | asset   6   6        
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Sale of La Zanja                
Business Acquisition [Line Items]                
Equity method investment, ownership percentage sold               46.94%
Equity method investments               $ 0
Contribution paid upon sale of equity method investment             45  
Loss on sale of equity method investment             45  
Discontinued Operations, Disposed of by Sale                
Business Acquisition [Line Items]                
Net income (loss) from discontinued operations (Note 1)         $ 68 $ 27 $ 30  
Discontinued Operations, Disposed of by Sale | Batu Hijau and Elang                
Business Acquisition [Line Items]                
Proceeds from sale of contingent consideration assets     $ 153          
Gain (loss) on disposal of contingent consideration assets     15          
Income tax benefit (expense)     $ 37          
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Risks and Uncertainties (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Risks and Uncertainties      
Assets received $ 56,349 $ 55,506 $ 38,482
Conga      
Risks and Uncertainties      
Assets received 892 $ 895  
Yanacocha      
Risks and Uncertainties      
Property, plant and mine development, net 1,195    
Yanacocha | Asset under Construction      
Risks and Uncertainties      
Property, plant and mine development, net $ 827    
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Stockpiles and Ore on Leach Pads (Details)
 12 Months Ended
Dec. 31, 2024
Minimum  
Stockpiles, Ore on Leach Pads and Inventories  
Leach pad recovery rate 50.00%
Maximum  
Stockpiles, Ore on Leach Pads and Inventories  
Leach pad recovery rate 95.00%
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Leases (Details)
Dec. 31, 2024
Dec. 31, 2023
Accounting Policies [Abstract]    
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other non-current assets Other non-current assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Other Liabilities, Current Other Liabilities, Current
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other non-current liabilities ($51 and $— valued under fair value option) (Note 22) Other non-current liabilities ($51 and $— valued under fair value option) (Note 22)
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Property, plant and mine development, net Property, plant and mine development, net
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Lease and other financing obligations (Note 21) Lease and other financing obligations (Note 21)
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Lease and other financing obligations (Note 21) Lease and other financing obligations (Note 21)
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Equity (Details) - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accounting Policies [Abstract]      
Repurchase and retirement of common stock (in shares) 26.0    
Repurchase and retirement of common stock $ 1,259    
Repurchase of common stock $ 1,246 $ 0 $ 0
Withholding of employee taxes related to stock-based compensation (in shares) 0.4 0.6 0.6
v3.25.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition (Details)
 12 Months Ended
Dec. 31, 2024
Revenue recognition  
Dore' market standard for percentage of gold (as a percent) 99.95%
Minimum  
Revenue recognition  
Co-product accounting, percent of metal mined as a percent of the life of mine sales value (as a percent) 10.00%
Product accounting, percent of metal mined as a percent of the life of mine sales value (as a percent) 10.00%
Maximum  
Revenue recognition  
Co-product accounting, percent of metal mined as a percent of the life of mine sales value (as a percent) 20.00%
Product accounting, percent of metal mined as a percent of the life of mine sales value (as a percent) 20.00%
v3.25.0.1
ACQUISITIONS AND DIVESTITURES - Fair Value of Consideration Transferred (Details) - Newcrest Mining Limited
$ / shares in Units, $ in Millions
Nov. 06, 2023
USD ($)
$ / shares
shares
Business Combination, Consideration Transferred [Abstract]  
Shares issued for Newcrest acquisition (in shares) | shares 357,691,627
Stock issued, price per share (in dollars per share) | $ / shares $ 37.88
Total Purchase Price | $ $ 13,549
v3.25.0.1
ACQUISITIONS AND DIVESTITURES - Purchase Price Allocation (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
ASSETS      
Goodwill $ 2,658 $ 3,001 $ 1,971
Lihir      
ASSETS      
Goodwill 944 695 0
Brucejack      
ASSETS      
Goodwill 669 1,087 0
Red Chris      
ASSETS      
Goodwill 539 397 0
Cadia      
ASSETS      
Goodwill 249 $ 565 $ 0
Newcrest Mining Limited      
ASSETS      
Cash and cash equivalents 668    
Trade receivables 212    
Inventories 723    
Stockpiles and ore on leach pads 113    
Derivative assets 42    
Other current assets 193    
Current assets 1,951    
Property, plant and mine development, net 13,504    
Investments 990    
Stockpiles and ore on leach pads 219    
Deferred income tax assets 75    
Goodwill 2,401    
Derivative assets 362    
Other non-current assets 398    
Total assets 19,900    
LIABILITIES      
Accounts payable 344    
Employee-related benefits 143    
Lease and other financing obligations 16    
Debt 1,923    
Other current liabilities 333    
Current liabilities 2,759    
Debt 1,373    
Lease and other financing obligations 35    
Reclamation and remediation liabilities 745    
Deferred income tax liabilities 1,236    
Employee-related benefits 192    
Other non-current liabilities 11    
Total liabilities 6,351    
Net assets acquired 13,549    
Business combination, provisional information, initial accounting incomplete, adjustment, property, plant, and equipment 321    
Business combination, accounting adjustment, increase (decrease) in deferred income tax assets (114)    
Business combination, accounting adjustment, increase (decrease) in deferred income tax liabilities (95)    
Accounting adjustment, increase (decrease) in goodwill (343)    
Measurement period adjustment, goodwill 305    
Accounting adjustment, reclamation and remediation liabilities 352    
Newcrest Mining Limited | Lihir      
ASSETS      
Goodwill 944    
LIABILITIES      
Business combination, provisional information, initial accounting incomplete, adjustment, stockpiles and ore on leach pads 85    
Newcrest Mining Limited | Brucejack      
ASSETS      
Goodwill 669    
Newcrest Mining Limited | Red Chris      
ASSETS      
Goodwill 539    
Newcrest Mining Limited | Cadia      
ASSETS      
Goodwill $ 249    
v3.25.0.1
ACQUISITIONS AND DIVESTITURES - Additional Information (Details)
$ in Millions, shares in Billions
 1 Months Ended 3 Months Ended 12 Months Ended
Dec. 04, 2024
USD ($)
shares
Feb. 29, 2024
asset
Mar. 31, 2024
asset
Dec. 31, 2024
USD ($)
oz
num-dot-decimal
Dec. 31, 2023
USD ($)
$ / oz
Dec. 31, 2022
USD ($)
$ / oz
Business Acquisition [Line Items]            
Financial liabilities, fair value       $ 6 $ 5 $ 3
Impairment of assets to be disposed of       $ 1,114 $ 0 $ 0
Measurement Input, Short-Term Gold Price | Valuation, Income Approach            
Business Acquisition [Line Items]            
Long-lived and other assets, measurement input | $ / oz         1,950 1,750
Measurement Input, Long-Term Gold Price | Valuation, Income Approach            
Business Acquisition [Line Items]            
Long-lived and other assets, measurement input | $ / oz         1,700 1,600
Discount rate | Valuation, Income Approach            
Business Acquisition [Line Items]            
Long-lived and other assets, measurement input           0.0675
Telfer            
Business Acquisition [Line Items]            
Economic interest (as a percent)       70.00%    
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program            
Business Acquisition [Line Items]            
Number of non-core assets to be divested | asset   6 6      
Net book value       $ 2,432 $ 3,419  
Impairment of assets to be disposed of       699    
Discontinued operation, tax effect       255    
Loss on disposal       $ 1,114    
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program | Measurement Input, Short-Term Gold Price | Valuation, Income Approach            
Business Acquisition [Line Items]            
Long-lived and other assets, measurement input | oz       2,700    
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program | Measurement Input, Long-Term Gold Price | Valuation, Income Approach            
Business Acquisition [Line Items]            
Long-lived and other assets, measurement input | oz       1,900    
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program | Discount rate | Valuation, Income Approach            
Business Acquisition [Line Items]            
Long-lived and other assets, measurement input | num-dot-decimal       0.0975    
Discontinued Operations, Held-for-Sale | Telfer            
Business Acquisition [Line Items]            
Impairment of assets to be disposed of       $ 160    
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program, Excluding Telfer            
Business Acquisition [Line Items]            
Impairment of assets to be disposed of       $ 859    
Discontinued Operations, Disposed of by Sale | Telfer            
Business Acquisition [Line Items]            
Ownership percentage in disposed asset 0.70          
Total consideration $ 453          
Cash consideration 217          
Equity consideration $ 242          
Equity consideration (in shares) | shares 2.7          
Consideration, option to purchase equity $ 67          
Consideration, option to purchase equity, shares | shares 1.3          
Option to purchase equity, term (in years) 4 years          
Contingent consideration $ 100          
Contingent consideration, term (in years) 5 years          
Financial liabilities, fair value $ 61          
Transitional services support period (in years) 1 year          
Newcrest Mining Limited            
Business Acquisition [Line Items]            
Revenue since acquisition         944  
Income (loss) since acquisition         $ 136  
v3.25.0.1
ACQUISITIONS AND DIVESTITURES - Pro-forma information (Details) - Newcrest Mining Limited - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Business Acquisition, Pro Forma Information [Abstract]      
Sales   $ 15,432 $ 16,418
Net income (loss) attributable to Newmont stockholders   (1,991) 410
Newcrest transaction and integration costs $ 72 $ 464 $ 0
v3.25.0.1
ACQUISITIONS AND DIVESTITURES - Schedule of Carrying Values of Assets and Liabilities Held for Sale (Details) - Discontinued Operations, Held-for-Sale - Portfolio Optimization Program
$ in Millions
Dec. 31, 2024
USD ($)
Assets held for sale:  
Property, plant and mine development, net $ 4,439
Other assets 869
Carrying value of assets held for sale 5,308
Liabilities held for sale:  
Reclamation and remediation liabilities 1,496
Other liabilities 681
Carrying value of liabilities held for sale 2,177
Corporate and Other  
Assets held for sale:  
Property, plant and mine development, net 321
Other assets 1
Carrying value of assets held for sale 322
Liabilities held for sale:  
Reclamation and remediation liabilities 3
Other liabilities 2
Carrying value of liabilities held for sale 5
CC&V | Operating Segments  
Assets held for sale:  
Property, plant and mine development, net 170
Other assets 408
Carrying value of assets held for sale 578
Liabilities held for sale:  
Reclamation and remediation liabilities 334
Other liabilities 37
Carrying value of liabilities held for sale 371
Musselwhite | Operating Segments  
Assets held for sale:  
Property, plant and mine development, net 1,063
Other assets 39
Carrying value of assets held for sale 1,102
Liabilities held for sale:  
Reclamation and remediation liabilities 82
Other liabilities 257
Carrying value of liabilities held for sale 339
Porcupine | Operating Segments  
Assets held for sale:  
Property, plant and mine development, net 1,541
Other assets 93
Carrying value of assets held for sale 1,634
Liabilities held for sale:  
Reclamation and remediation liabilities 563
Other liabilities 223
Carrying value of liabilities held for sale 786
Éléonore | Operating Segments  
Assets held for sale:  
Property, plant and mine development, net 785
Other assets 70
Carrying value of assets held for sale 855
Liabilities held for sale:  
Reclamation and remediation liabilities 87
Other liabilities 71
Carrying value of liabilities held for sale 158
Akyem | Operating Segments  
Assets held for sale:  
Property, plant and mine development, net 559
Other assets 258
Carrying value of assets held for sale 817
Liabilities held for sale:  
Reclamation and remediation liabilities 427
Other liabilities 91
Carrying value of liabilities held for sale $ 518
v3.25.0.1
SEGMENT INFORMATION - Additional Information (Details)
 12 Months Ended
Dec. 31, 2024
plant
Segment Information  
Number of reportable segments 16
NGM  
Segment Information  
Ownership interest (as a percent) 38.50%
v3.25.0.1
SEGMENT INFORMATION - Financial Information Table (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Jun. 30, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Information        
Sales   $ 18,682 $ 11,812 $ 11,915
Costs Applicable to Sales [1]   8,963 6,699 6,468
Depreciation and amortization   2,576 2,108 2,185
Reclamation and Remediation   328 1,533 921
Advanced Projects, Research and Development and Exploration   463 465 460
Other segment expenses (income)   1,775 3,038 1,932
Income (Loss) before Income and Mining Tax and Other Items   4,577 (2,031) (51)
Total Assets   56,349 55,506 38,482
Capital Expenditures   3,324 2,745 2,190
Additional disclosures        
Increase (decrease) in accrued capital expenditures   (78) 79 59
Consolidated capital expenditures on a cash basis   3,402 2,666 2,131
Operating Segments        
Segment Information        
Sales   18,414 11,812 11,915
Costs Applicable to Sales   8,678 6,699 6,468
Depreciation and amortization   2,491 2,067 2,151
Reclamation and Remediation   206 1,338 802
Advanced Projects, Research and Development and Exploration   254 244 232
Other segment expenses (income)   650 2,145 1,343
Income (Loss) before Income and Mining Tax and Other Items   6,135 (681) 919
Total Assets   46,632 45,662 30,113
Capital Expenditures   3,251 2,694 2,145
Operating Segments | Brucejack        
Segment Information        
Sales     72  
Costs Applicable to Sales     69  
Depreciation and amortization     22  
Reclamation and Remediation     0  
Advanced Projects, Research and Development and Exploration     7  
Other segment expenses (income)     0  
Income (Loss) before Income and Mining Tax and Other Items     (26)  
Total Assets     4,006  
Capital Expenditures     22  
Operating Segments | Brucejack | Continuing Operations        
Segment Information        
Sales   610    
Costs Applicable to Sales   312    
Depreciation and amortization   172    
Reclamation and Remediation   5    
Advanced Projects, Research and Development and Exploration   13    
Other segment expenses (income)   0    
Income (Loss) before Income and Mining Tax and Other Items   108    
Total Assets   2,660    
Capital Expenditures   70    
Operating Segments | Red Chris        
Segment Information        
Sales     32  
Costs Applicable to Sales     21  
Depreciation and amortization     4  
Reclamation and Remediation     0  
Advanced Projects, Research and Development and Exploration     0  
Other segment expenses (income)     (1)  
Income (Loss) before Income and Mining Tax and Other Items     8  
Total Assets     2,178  
Capital Expenditures     25  
Operating Segments | Red Chris | Continuing Operations        
Segment Information        
Sales   325    
Costs Applicable to Sales   219    
Depreciation and amortization   66    
Reclamation and Remediation   7    
Advanced Projects, Research and Development and Exploration   13    
Other segment expenses (income)   (2)    
Income (Loss) before Income and Mining Tax and Other Items   22    
Total Assets   2,580    
Capital Expenditures   150    
Operating Segments | Red Chris | Gold        
Segment Information        
Sales     9  
Costs Applicable to Sales     4  
Depreciation and amortization     1  
Operating Segments | Red Chris | Gold | Continuing Operations        
Segment Information        
Sales   96    
Costs Applicable to Sales   47    
Depreciation and amortization   14    
Operating Segments | Red Chris | Copper        
Segment Information        
Sales     23  
Costs Applicable to Sales     17  
Depreciation and amortization     3  
Operating Segments | Red Chris | Copper | Continuing Operations        
Segment Information        
Sales   229    
Costs Applicable to Sales   172    
Depreciation and amortization   52    
Operating Segments | Peñasquito        
Segment Information        
Sales     901 2,189
Costs Applicable to Sales     809 1,306
Depreciation and amortization     351 427
Reclamation and Remediation     18 13
Advanced Projects, Research and Development and Exploration     11 19
Other segment expenses (income)     1,523 21
Income (Loss) before Income and Mining Tax and Other Items     (1,811) 403
Total Assets     4,738 6,430
Capital Expenditures     113 183
Operating Segments | Peñasquito | Profit-Sharing Agreement        
Segment Information        
Costs Applicable to Sales $ 70      
Operating Segments | Peñasquito | Continuing Operations        
Segment Information        
Sales   2,322    
Costs Applicable to Sales   1,128    
Depreciation and amortization   476    
Reclamation and Remediation   20    
Advanced Projects, Research and Development and Exploration   13    
Other segment expenses (income)   43    
Income (Loss) before Income and Mining Tax and Other Items   642    
Total Assets   4,879    
Capital Expenditures   129    
Operating Segments | Peñasquito | Gold        
Segment Information        
Sales     257 1,006
Costs Applicable to Sales     158 442
Depreciation and amortization     67 148
Operating Segments | Peñasquito | Gold | Continuing Operations        
Segment Information        
Sales   713    
Costs Applicable to Sales   225    
Depreciation and amortization   103    
Operating Segments | Peñasquito | Silver        
Segment Information        
Sales     335 549
Costs Applicable to Sales     300 454
Depreciation and amortization     134 151
Operating Segments | Peñasquito | Silver | Continuing Operations        
Segment Information        
Sales   792    
Costs Applicable to Sales   360    
Depreciation and amortization   159    
Operating Segments | Peñasquito | Lead        
Segment Information        
Sales     96 133
Costs Applicable to Sales     98 94
Depreciation and amortization     45 32
Operating Segments | Peñasquito | Lead | Continuing Operations        
Segment Information        
Sales   195    
Costs Applicable to Sales   116    
Depreciation and amortization   52    
Operating Segments | Peñasquito | Zinc        
Segment Information        
Sales     213 501
Costs Applicable to Sales     253 316
Depreciation and amortization     105 96
Operating Segments | Peñasquito | Zinc | Continuing Operations        
Segment Information        
Sales   622    
Costs Applicable to Sales   427    
Depreciation and amortization   162    
Operating Segments | Merian        
Segment Information        
Sales     625 723
Costs Applicable to Sales     385 369
Depreciation and amortization     82 80
Reclamation and Remediation     3 2
Advanced Projects, Research and Development and Exploration     23 21
Other segment expenses (income)     10 2
Income (Loss) before Income and Mining Tax and Other Items     122 249
Total Assets     927 923
Capital Expenditures     84 56
Operating Segments | Merian | Continuing Operations        
Segment Information        
Sales   660    
Costs Applicable to Sales   401    
Depreciation and amortization   84    
Reclamation and Remediation   4    
Advanced Projects, Research and Development and Exploration   21    
Other segment expenses (income)   (1)    
Income (Loss) before Income and Mining Tax and Other Items   151    
Total Assets   943    
Capital Expenditures   81    
Operating Segments | Cerro Negro        
Segment Information        
Sales     510 508
Costs Applicable to Sales     328 283
Depreciation and amortization     137 148
Reclamation and Remediation     4 3
Advanced Projects, Research and Development and Exploration     10 25
Other segment expenses (income)     16 500
Income (Loss) before Income and Mining Tax and Other Items     15 (451)
Total Assets     1,646 1,659
Capital Expenditures     162 132
Operating Segments | Cerro Negro | Continuing Operations        
Segment Information        
Sales   566    
Costs Applicable to Sales   312    
Depreciation and amortization   123    
Reclamation and Remediation   5    
Advanced Projects, Research and Development and Exploration   19    
Other segment expenses (income)   13    
Income (Loss) before Income and Mining Tax and Other Items   94    
Total Assets   1,787    
Capital Expenditures   186    
Operating Segments | Yanacocha        
Segment Information        
Sales     537 451
Costs Applicable to Sales     294 313
Depreciation and amortization     85 95
Reclamation and Remediation     1,232 639
Advanced Projects, Research and Development and Exploration     11 22
Other segment expenses (income)     (15) (6)
Income (Loss) before Income and Mining Tax and Other Items     (1,070) (612)
Total Assets     2,117 2,225
Capital Expenditures     312 439
Operating Segments | Yanacocha | Continuing Operations        
Segment Information        
Sales   841    
Costs Applicable to Sales   353    
Depreciation and amortization   98    
Reclamation and Remediation   55    
Advanced Projects, Research and Development and Exploration   9    
Other segment expenses (income)   2    
Income (Loss) before Income and Mining Tax and Other Items   324    
Total Assets   1,932    
Capital Expenditures   61    
Operating Segments | Boddington        
Segment Information        
Sales     1,814 1,763
Costs Applicable to Sales     838 833
Depreciation and amortization     143 152
Reclamation and Remediation     12 10
Advanced Projects, Research and Development and Exploration     6 7
Other segment expenses (income)     4 (18)
Income (Loss) before Income and Mining Tax and Other Items     811 779
Total Assets     2,376 2,264
Capital Expenditures     164 72
Operating Segments | Boddington | Continuing Operations        
Segment Information        
Sales   1,746    
Costs Applicable to Sales   817    
Depreciation and amortization   151    
Reclamation and Remediation   13    
Advanced Projects, Research and Development and Exploration   4    
Other segment expenses (income)   (23)    
Income (Loss) before Income and Mining Tax and Other Items   784    
Total Assets   2,420    
Capital Expenditures   129    
Operating Segments | Boddington | Gold        
Segment Information        
Sales     1,451 1,447
Costs Applicable to Sales     634 652
Depreciation and amortization     108 118
Operating Segments | Boddington | Gold | Continuing Operations        
Segment Information        
Sales   1,417    
Costs Applicable to Sales   613    
Depreciation and amortization   112    
Operating Segments | Boddington | Copper        
Segment Information        
Sales     363 316
Costs Applicable to Sales     204 181
Depreciation and amortization     35 34
Operating Segments | Boddington | Copper | Continuing Operations        
Segment Information        
Sales   329    
Costs Applicable to Sales   204    
Depreciation and amortization   39    
Operating Segments | Tanami        
Segment Information        
Sales     867 878
Costs Applicable to Sales     337 328
Depreciation and amortization     110 101
Reclamation and Remediation     2 1
Advanced Projects, Research and Development and Exploration     30 28
Other segment expenses (income)     (19) (2)
Income (Loss) before Income and Mining Tax and Other Items     407 422
Total Assets     1,896 1,585
Capital Expenditures     413 343
Operating Segments | Tanami | Continuing Operations        
Segment Information        
Sales   988    
Costs Applicable to Sales   390    
Depreciation and amortization   123    
Reclamation and Remediation   2    
Advanced Projects, Research and Development and Exploration   28    
Other segment expenses (income)   (19)    
Income (Loss) before Income and Mining Tax and Other Items   464    
Total Assets   2,236    
Capital Expenditures   437    
Operating Segments | Cadia        
Segment Information        
Sales     422  
Costs Applicable to Sales     245  
Depreciation and amortization     30  
Reclamation and Remediation     0  
Advanced Projects, Research and Development and Exploration     2  
Other segment expenses (income)     (13)  
Income (Loss) before Income and Mining Tax and Other Items     158  
Total Assets     6,351  
Capital Expenditures     75  
Operating Segments | Cadia | Continuing Operations        
Segment Information        
Sales   1,861    
Costs Applicable to Sales   577    
Depreciation and amortization   242    
Reclamation and Remediation   5    
Advanced Projects, Research and Development and Exploration   19    
Other segment expenses (income)   (23)    
Income (Loss) before Income and Mining Tax and Other Items   1,041    
Total Assets   6,208    
Capital Expenditures   537    
Operating Segments | Cadia | Gold        
Segment Information        
Sales     250  
Costs Applicable to Sales     129  
Depreciation and amortization     16  
Operating Segments | Cadia | Gold | Continuing Operations        
Segment Information        
Sales   1,118    
Costs Applicable to Sales   297    
Depreciation and amortization   119    
Operating Segments | Cadia | Copper        
Segment Information        
Sales     172  
Costs Applicable to Sales     116  
Depreciation and amortization     14  
Operating Segments | Cadia | Copper | Continuing Operations        
Segment Information        
Sales   743    
Costs Applicable to Sales   280    
Depreciation and amortization   123    
Operating Segments | Lihir        
Segment Information        
Sales     266  
Costs Applicable to Sales     146  
Depreciation and amortization     20  
Reclamation and Remediation     0  
Advanced Projects, Research and Development and Exploration     2  
Other segment expenses (income)     5  
Income (Loss) before Income and Mining Tax and Other Items     93  
Total Assets     3,909  
Capital Expenditures     53  
Operating Segments | Lihir | Continuing Operations        
Segment Information        
Sales   1,473    
Costs Applicable to Sales   787    
Depreciation and amortization   168    
Reclamation and Remediation   12    
Advanced Projects, Research and Development and Exploration   16    
Other segment expenses (income)   21    
Income (Loss) before Income and Mining Tax and Other Items   469    
Total Assets   5,625    
Capital Expenditures   193    
Operating Segments | Ahafo        
Segment Information        
Sales     1,130 1,023
Costs Applicable to Sales     547 566
Depreciation and amortization     181 167
Reclamation and Remediation     7 4
Advanced Projects, Research and Development and Exploration     40 26
Other segment expenses (income)     (14) (7)
Income (Loss) before Income and Mining Tax and Other Items     369 267
Total Assets     2,823 2,619
Capital Expenditures     310 268
Operating Segments | Ahafo | Continuing Operations        
Segment Information        
Sales   1,923    
Costs Applicable to Sales   722    
Depreciation and amortization   215    
Reclamation and Remediation   8    
Advanced Projects, Research and Development and Exploration   41    
Other segment expenses (income)   (38)    
Income (Loss) before Income and Mining Tax and Other Items   975    
Total Assets   3,425    
Capital Expenditures   382    
Operating Segments | NGM        
Segment Information        
Sales     2,271 2,098
Costs Applicable to Sales     1,249 1,153
Depreciation and amortization     452 471
Reclamation and Remediation     11 5
Advanced Projects, Research and Development and Exploration     29 32
Other segment expenses (income)     98 3
Income (Loss) before Income and Mining Tax and Other Items     432 434
Total Assets     7,401 7,419
Capital Expenditures     472 308
Operating Segments | NGM | Continuing Operations        
Segment Information        
Sales   2,485    
Costs Applicable to Sales   1,263    
Depreciation and amortization   428    
Reclamation and Remediation   11    
Advanced Projects, Research and Development and Exploration   23    
Other segment expenses (income)   32    
Income (Loss) before Income and Mining Tax and Other Items   728    
Total Assets   7,430    
Capital Expenditures   448    
Operating Segments | CC&V        
Segment Information        
Sales     332 333
Costs Applicable to Sales     198 241
Depreciation and amortization     23 71
Reclamation and Remediation     12 17
Advanced Projects, Research and Development and Exploration     13 11
Other segment expenses (income)     4 520
Income (Loss) before Income and Mining Tax and Other Items     82 (527)
Total Assets     383 286
Capital Expenditures     64 44
Operating Segments | CC&V | Discontinued Operations        
Segment Information        
Sales   347    
Costs Applicable to Sales   200    
Depreciation and amortization   13    
Reclamation and Remediation   11    
Advanced Projects, Research and Development and Exploration   7    
Other segment expenses (income)   19    
Income (Loss) before Income and Mining Tax and Other Items   97    
Total Assets   561    
Capital Expenditures   26    
Operating Segments | Musselwhite        
Segment Information        
Sales     351 305
Costs Applicable to Sales     214 195
Depreciation and amortization     80 79
Reclamation and Remediation     3 2
Advanced Projects, Research and Development and Exploration     10 8
Other segment expenses (income)     298 (2)
Income (Loss) before Income and Mining Tax and Other Items     (254) 23
Total Assets     1,018 1,294
Capital Expenditures     104 54
Operating Segments | Musselwhite | Discontinued Operations        
Segment Information        
Sales   516    
Costs Applicable to Sales   224    
Depreciation and amortization   18    
Reclamation and Remediation   3    
Advanced Projects, Research and Development and Exploration   6    
Other segment expenses (income)   0    
Income (Loss) before Income and Mining Tax and Other Items   265    
Total Assets   1,102    
Capital Expenditures   97    
Operating Segments | Porcupine        
Segment Information        
Sales     503 504
Costs Applicable to Sales     301 281
Depreciation and amortization     117 104
Reclamation and Remediation     18 98
Advanced Projects, Research and Development and Exploration     17 14
Other segment expenses (income)     5 336
Income (Loss) before Income and Mining Tax and Other Items     45 (329)
Total Assets     1,473 1,401
Capital Expenditures     166 152
Operating Segments | Porcupine | Discontinued Operations        
Segment Information        
Sales   673    
Costs Applicable to Sales   310    
Depreciation and amortization   36    
Reclamation and Remediation   27    
Advanced Projects, Research and Development and Exploration   6    
Other segment expenses (income)   633    
Income (Loss) before Income and Mining Tax and Other Items   (339)    
Total Assets   1,172    
Capital Expenditures   201    
Operating Segments | Éléonore        
Segment Information        
Sales     453 391
Costs Applicable to Sales     295 266
Depreciation and amortization     101 115
Reclamation and Remediation     3 2
Advanced Projects, Research and Development and Exploration     10 5
Other segment expenses (income)     247 (1)
Income (Loss) before Income and Mining Tax and Other Items     (203) 4
Total Assets     777 1,010
Capital Expenditures     106 60
Operating Segments | Éléonore | Discontinued Operations        
Segment Information        
Sales   583    
Costs Applicable to Sales   325    
Depreciation and amortization   21    
Reclamation and Remediation   4    
Advanced Projects, Research and Development and Exploration   11    
Other segment expenses (income)   (2)    
Income (Loss) before Income and Mining Tax and Other Items   224    
Total Assets   855    
Capital Expenditures   100    
Operating Segments | Akyem        
Segment Information        
Sales     574 749
Costs Applicable to Sales     275 334
Depreciation and amortization     122 141
Reclamation and Remediation     12 6
Advanced Projects, Research and Development and Exploration     19 14
Other segment expenses (income)     (5) (3)
Income (Loss) before Income and Mining Tax and Other Items     151 257
Total Assets     1,069 998
Capital Expenditures     40 34
Operating Segments | Akyem | Discontinued Operations        
Segment Information        
Sales   495    
Costs Applicable to Sales   338    
Depreciation and amortization   57    
Reclamation and Remediation   14    
Advanced Projects, Research and Development and Exploration   5    
Other segment expenses (income)   (5)    
Income (Loss) before Income and Mining Tax and Other Items   86    
Total Assets   817    
Capital Expenditures   24    
Operating Segments | Telfer        
Segment Information        
Sales     152  
Costs Applicable to Sales     148  
Depreciation and amortization     7  
Reclamation and Remediation     1  
Advanced Projects, Research and Development and Exploration     4  
Other segment expenses (income)     2  
Income (Loss) before Income and Mining Tax and Other Items     (10)  
Total Assets     574  
Capital Expenditures     9  
Operating Segments | Telfer | Discontinued Operations        
Segment Information        
Sales   268    
Costs Applicable to Sales   285    
Depreciation and amortization   17    
Reclamation and Remediation   13    
Advanced Projects, Research and Development and Exploration   14    
Other segment expenses (income)   158    
Income (Loss) before Income and Mining Tax and Other Items   (219)    
Total Assets   0    
Capital Expenditures   51    
Operating Segments | Telfer | Gold        
Segment Information        
Sales     135  
Costs Applicable to Sales     126  
Depreciation and amortization     6  
Operating Segments | Telfer | Gold | Discontinued Operations        
Segment Information        
Sales   242    
Costs Applicable to Sales   245    
Depreciation and amortization   14    
Operating Segments | Telfer | Copper        
Segment Information        
Sales     17  
Costs Applicable to Sales     22  
Depreciation and amortization     1  
Operating Segments | Telfer | Copper | Discontinued Operations        
Segment Information        
Sales   26    
Costs Applicable to Sales   40    
Depreciation and amortization   3    
Corporate and Other        
Segment Information        
Sales   0 0 0
Costs Applicable to Sales   0 0 0
Depreciation and amortization   68 41 34
Reclamation and Remediation   109 195 119
Advanced Projects, Research and Development and Exploration   195 221 228
Other segment expenses (income)   967 893 589
Income (Loss) before Income and Mining Tax and Other Items   (1,339) (1,350) (970)
Total Assets   9,717 9,844 8,369
Capital Expenditures   $ 22 $ 51 $ 45
[1] Excludes Depreciation and amortization and Reclamation and remediation.
v3.25.0.1
SEGMENT INFORMATION - Long-lived Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets $ 40,602 $ 39,578
Assets held for sale 4,609 0
Australia    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 9,490 9,373
Canada    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 8,358 8,789
Assets held for sale 3,723  
United States    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 7,125 7,011
Assets held for sale 434  
Papua New Guinea    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 4,514 3,140
Mexico    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 3,822 4,119
Ghana    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 2,755 2,626
Assets held for sale 565  
Peru    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 2,203 2,254
Argentina    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 1,582 1,508
Suriname    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets 726 726
Other    
Revenues from External Customers and Long-Lived Assets [Line Items]    
Long-lived assets $ 27 $ 32
v3.25.0.1
SALES - Disaggregation of Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
SALES      
Sales $ 18,682 $ 11,812 $ 11,915
Gold Sales from Doré Production      
SALES      
Sales 12,312 8,781 8,357
Sales from Concentrate and Other Production      
SALES      
Sales 6,370 3,031 3,558
Operating Segments      
SALES      
Sales 18,414 11,812 11,915
Operating Segments | Brucejack      
SALES      
Sales   72  
Operating Segments | Brucejack | Continuing Operations      
SALES      
Sales 610    
Operating Segments | Brucejack | Gold Sales from Doré Production      
SALES      
Sales   48  
Operating Segments | Brucejack | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 415    
Operating Segments | Brucejack | Sales from Concentrate and Other Production      
SALES      
Sales   24  
Operating Segments | Brucejack | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 195    
Operating Segments | Red Chris      
SALES      
Sales   32  
Operating Segments | Red Chris | Continuing Operations      
SALES      
Sales 325    
Operating Segments | Red Chris | Gold Sales from Doré Production      
SALES      
Sales   0  
Operating Segments | Red Chris | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 0    
Operating Segments | Red Chris | Sales from Concentrate and Other Production      
SALES      
Sales   32  
Operating Segments | Red Chris | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 325    
Operating Segments | Red Chris | Red Chris - Gold      
SALES      
Sales   9  
Operating Segments | Red Chris | Red Chris - Gold | Continuing Operations      
SALES      
Sales 96    
Operating Segments | Red Chris | Red Chris - Gold | Gold Sales from Doré Production      
SALES      
Sales   0  
Operating Segments | Red Chris | Red Chris - Gold | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 0    
Operating Segments | Red Chris | Red Chris - Gold | Sales from Concentrate and Other Production      
SALES      
Sales   9  
Operating Segments | Red Chris | Red Chris - Gold | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 96    
Operating Segments | Red Chris | Red Chris - Copper      
SALES      
Sales   23  
Operating Segments | Red Chris | Red Chris - Copper | Continuing Operations      
SALES      
Sales 229    
Operating Segments | Red Chris | Red Chris - Copper | Gold Sales from Doré Production      
SALES      
Sales   0  
Operating Segments | Red Chris | Red Chris - Copper | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 0    
Operating Segments | Red Chris | Red Chris - Copper | Sales from Concentrate and Other Production      
SALES      
Sales   23  
Operating Segments | Red Chris | Red Chris - Copper | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 229    
Operating Segments | Peñasquito      
SALES      
Sales   901 2,189
Operating Segments | Peñasquito | Continuing Operations      
SALES      
Sales 2,322    
Operating Segments | Peñasquito | Gold Sales from Doré Production      
SALES      
Sales   36 110
Operating Segments | Peñasquito | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 0    
Operating Segments | Peñasquito | Sales from Concentrate and Other Production      
SALES      
Sales   865 2,079
Operating Segments | Peñasquito | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 2,322    
Operating Segments | Peñasquito | Penasquito - Gold      
SALES      
Sales   257 1,006
Operating Segments | Peñasquito | Penasquito - Gold | Continuing Operations      
SALES      
Sales 713    
Operating Segments | Peñasquito | Penasquito - Gold | Gold Sales from Doré Production      
SALES      
Sales   36 110
Operating Segments | Peñasquito | Penasquito - Gold | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 0    
Operating Segments | Peñasquito | Penasquito - Gold | Sales from Concentrate and Other Production      
SALES      
Sales   221 896
Operating Segments | Peñasquito | Penasquito - Gold | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 713    
Operating Segments | Peñasquito | Penasquito - Silver      
SALES      
Sales   335 549
Operating Segments | Peñasquito | Penasquito - Silver | Continuing Operations      
SALES      
Sales 792    
Operating Segments | Peñasquito | Penasquito - Silver | Gold Sales from Doré Production      
SALES      
Sales   0 0
Operating Segments | Peñasquito | Penasquito - Silver | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 0    
Operating Segments | Peñasquito | Penasquito - Silver | Sales from Concentrate and Other Production      
SALES      
Sales   335 549
Operating Segments | Peñasquito | Penasquito - Silver | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 792    
Operating Segments | Peñasquito | Penasquito - Silver | Silver Streaming Agreement      
SALES      
Sales 91 42 73
Operating Segments | Peñasquito | Penasquito - Lead      
SALES      
Sales   96 133
Operating Segments | Peñasquito | Penasquito - Lead | Continuing Operations      
SALES      
Sales 195    
Operating Segments | Peñasquito | Penasquito - Lead | Gold Sales from Doré Production      
SALES      
Sales   0 0
Operating Segments | Peñasquito | Penasquito - Lead | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 0    
Operating Segments | Peñasquito | Penasquito - Lead | Sales from Concentrate and Other Production      
SALES      
Sales   96 133
Operating Segments | Peñasquito | Penasquito - Lead | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 195    
Operating Segments | Peñasquito | Penasquito - Zinc      
SALES      
Sales   213 501
Operating Segments | Peñasquito | Penasquito - Zinc | Continuing Operations      
SALES      
Sales 622    
Operating Segments | Peñasquito | Penasquito - Zinc | Gold Sales from Doré Production      
SALES      
Sales   0 0
Operating Segments | Peñasquito | Penasquito - Zinc | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 0    
Operating Segments | Peñasquito | Penasquito - Zinc | Sales from Concentrate and Other Production      
SALES      
Sales   213 501
Operating Segments | Peñasquito | Penasquito - Zinc | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 622    
Operating Segments | Merian      
SALES      
Sales   625 723
Operating Segments | Merian | Continuing Operations      
SALES      
Sales 660    
Operating Segments | Merian | Gold Sales from Doré Production      
SALES      
Sales   600 723
Operating Segments | Merian | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 638    
Operating Segments | Merian | Sales from Concentrate and Other Production      
SALES      
Sales   25 0
Operating Segments | Merian | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 22    
Operating Segments | Cerro Negro      
SALES      
Sales   510 508
Operating Segments | Cerro Negro | Continuing Operations      
SALES      
Sales 566    
Operating Segments | Cerro Negro | Gold Sales from Doré Production      
SALES      
Sales   510 508
Operating Segments | Cerro Negro | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 566    
Operating Segments | Cerro Negro | Sales from Concentrate and Other Production      
SALES      
Sales   0 0
Operating Segments | Cerro Negro | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 0    
Operating Segments | Yanacocha      
SALES      
Sales   537 451
Operating Segments | Yanacocha | Continuing Operations      
SALES      
Sales 841    
Operating Segments | Yanacocha | Gold Sales from Doré Production      
SALES      
Sales   526 446
Operating Segments | Yanacocha | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 833    
Operating Segments | Yanacocha | Sales from Concentrate and Other Production      
SALES      
Sales   11 5
Operating Segments | Yanacocha | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 8    
Operating Segments | Boddington      
SALES      
Sales   1,814 1,763
Operating Segments | Boddington | Continuing Operations      
SALES      
Sales 1,746    
Operating Segments | Boddington | Gold Sales from Doré Production      
SALES      
Sales   359 366
Operating Segments | Boddington | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 353    
Operating Segments | Boddington | Sales from Concentrate and Other Production      
SALES      
Sales   1,455 1,397
Operating Segments | Boddington | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 1,393    
Operating Segments | Boddington | Boddington - Gold      
SALES      
Sales   1,451 1,447
Operating Segments | Boddington | Boddington - Gold | Continuing Operations      
SALES      
Sales 1,417    
Operating Segments | Boddington | Boddington - Gold | Gold Sales from Doré Production      
SALES      
Sales   359 366
Operating Segments | Boddington | Boddington - Gold | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 353    
Operating Segments | Boddington | Boddington - Gold | Sales from Concentrate and Other Production      
SALES      
Sales   1,092 1,081
Operating Segments | Boddington | Boddington - Gold | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 1,064    
Operating Segments | Boddington | Boddington - Copper      
SALES      
Sales   363 316
Operating Segments | Boddington | Boddington - Copper | Continuing Operations      
SALES      
Sales 329    
Operating Segments | Boddington | Boddington - Copper | Gold Sales from Doré Production      
SALES      
Sales   0 0
Operating Segments | Boddington | Boddington - Copper | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 0    
Operating Segments | Boddington | Boddington - Copper | Sales from Concentrate and Other Production      
SALES      
Sales   363 316
Operating Segments | Boddington | Boddington - Copper | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 329    
Operating Segments | Tanami      
SALES      
Sales   867 878
Operating Segments | Tanami | Continuing Operations      
SALES      
Sales 988    
Operating Segments | Tanami | Gold Sales from Doré Production      
SALES      
Sales   867 878
Operating Segments | Tanami | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 988    
Operating Segments | Tanami | Sales from Concentrate and Other Production      
SALES      
Sales   0 0
Operating Segments | Tanami | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 0    
Operating Segments | Cadia      
SALES      
Sales   422  
Operating Segments | Cadia | Continuing Operations      
SALES      
Sales 1,861    
Operating Segments | Cadia | Gold Sales from Doré Production      
SALES      
Sales   28  
Operating Segments | Cadia | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 126    
Operating Segments | Cadia | Sales from Concentrate and Other Production      
SALES      
Sales   394  
Operating Segments | Cadia | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 1,735    
Operating Segments | Cadia | Cadia - Gold      
SALES      
Sales   250  
Operating Segments | Cadia | Cadia - Gold | Continuing Operations      
SALES      
Sales 1,118    
Operating Segments | Cadia | Cadia - Gold | Gold Sales from Doré Production      
SALES      
Sales   28  
Operating Segments | Cadia | Cadia - Gold | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 126    
Operating Segments | Cadia | Cadia - Gold | Sales from Concentrate and Other Production      
SALES      
Sales   222  
Operating Segments | Cadia | Cadia - Gold | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 992    
Operating Segments | Cadia | Cadia - Copper      
SALES      
Sales   172  
Operating Segments | Cadia | Cadia - Copper | Continuing Operations      
SALES      
Sales 743    
Operating Segments | Cadia | Cadia - Copper | Gold Sales from Doré Production      
SALES      
Sales   0  
Operating Segments | Cadia | Cadia - Copper | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 0    
Operating Segments | Cadia | Cadia - Copper | Sales from Concentrate and Other Production      
SALES      
Sales   172  
Operating Segments | Cadia | Cadia - Copper | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 743    
Operating Segments | Lihir      
SALES      
Sales   266  
Operating Segments | Lihir | Continuing Operations      
SALES      
Sales 1,473    
Operating Segments | Lihir | Gold Sales from Doré Production      
SALES      
Sales   266  
Operating Segments | Lihir | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 1,473    
Operating Segments | Lihir | Sales from Concentrate and Other Production      
SALES      
Sales   0  
Operating Segments | Lihir | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 0    
Operating Segments | Ahafo      
SALES      
Sales   1,130 1,023
Operating Segments | Ahafo | Continuing Operations      
SALES      
Sales 1,923    
Operating Segments | Ahafo | Gold Sales from Doré Production      
SALES      
Sales   1,130 1,023
Operating Segments | Ahafo | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 1,923    
Operating Segments | Ahafo | Sales from Concentrate and Other Production      
SALES      
Sales   0 0
Operating Segments | Ahafo | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 0    
Operating Segments | NGM      
SALES      
Sales   2,271 2,098
Operating Segments | NGM | Continuing Operations      
SALES      
Sales 2,485    
Operating Segments | NGM | Gold Sales from Doré Production      
SALES      
Sales   2,178 2,026
Operating Segments | NGM | Gold Sales from Doré Production | Continuing Operations      
SALES      
Sales 2,336    
Operating Segments | NGM | Sales from Concentrate and Other Production      
SALES      
Sales   93 72
Operating Segments | NGM | Sales from Concentrate and Other Production | Continuing Operations      
SALES      
Sales 149    
Operating Segments | CC&V      
SALES      
Sales   332 333
Operating Segments | CC&V | Discontinued Operations      
SALES      
Sales 347    
Operating Segments | CC&V | Gold Sales from Doré Production      
SALES      
Sales   332 328
Operating Segments | CC&V | Gold Sales from Doré Production | Discontinued Operations      
SALES      
Sales 347    
Operating Segments | CC&V | Sales from Concentrate and Other Production      
SALES      
Sales   0 5
Operating Segments | CC&V | Sales from Concentrate and Other Production | Discontinued Operations      
SALES      
Sales 0    
Operating Segments | Musselwhite      
SALES      
Sales   351 305
Operating Segments | Musselwhite | Discontinued Operations      
SALES      
Sales 516    
Operating Segments | Musselwhite | Gold Sales from Doré Production      
SALES      
Sales   351 305
Operating Segments | Musselwhite | Gold Sales from Doré Production | Discontinued Operations      
SALES      
Sales 516    
Operating Segments | Musselwhite | Sales from Concentrate and Other Production      
SALES      
Sales   0 0
Operating Segments | Musselwhite | Sales from Concentrate and Other Production | Discontinued Operations      
SALES      
Sales 0    
Operating Segments | Porcupine      
SALES      
Sales   503 504
Operating Segments | Porcupine | Discontinued Operations      
SALES      
Sales 673    
Operating Segments | Porcupine | Gold Sales from Doré Production      
SALES      
Sales   503 504
Operating Segments | Porcupine | Gold Sales from Doré Production | Discontinued Operations      
SALES      
Sales 673    
Operating Segments | Porcupine | Sales from Concentrate and Other Production      
SALES      
Sales   0 0
Operating Segments | Porcupine | Sales from Concentrate and Other Production | Discontinued Operations      
SALES      
Sales 0    
Operating Segments | Éléonore      
SALES      
Sales   453 391
Operating Segments | Éléonore | Discontinued Operations      
SALES      
Sales 583    
Operating Segments | Éléonore | Gold Sales from Doré Production      
SALES      
Sales   453 391
Operating Segments | Éléonore | Gold Sales from Doré Production | Discontinued Operations      
SALES      
Sales 583    
Operating Segments | Éléonore | Sales from Concentrate and Other Production      
SALES      
Sales   0 0
Operating Segments | Éléonore | Sales from Concentrate and Other Production | Discontinued Operations      
SALES      
Sales 0    
Operating Segments | Akyem      
SALES      
Sales   574 749
Operating Segments | Akyem | Discontinued Operations      
SALES      
Sales 495    
Operating Segments | Akyem | Gold Sales from Doré Production      
SALES      
Sales   574 749
Operating Segments | Akyem | Gold Sales from Doré Production | Discontinued Operations      
SALES      
Sales 495    
Operating Segments | Akyem | Sales from Concentrate and Other Production      
SALES      
Sales   0 0
Operating Segments | Akyem | Sales from Concentrate and Other Production | Discontinued Operations      
SALES      
Sales 0    
Operating Segments | Telfer      
SALES      
Sales   152  
Operating Segments | Telfer | Discontinued Operations      
SALES      
Sales 268    
Operating Segments | Telfer | Gold Sales from Doré Production      
SALES      
Sales   20  
Operating Segments | Telfer | Gold Sales from Doré Production | Discontinued Operations      
SALES      
Sales 47    
Operating Segments | Telfer | Sales from Concentrate and Other Production      
SALES      
Sales   132  
Operating Segments | Telfer | Sales from Concentrate and Other Production | Discontinued Operations      
SALES      
Sales 221    
Operating Segments | Telfer | Telfer - Gold      
SALES      
Sales   135  
Operating Segments | Telfer | Telfer - Gold | Discontinued Operations      
SALES      
Sales 242    
Operating Segments | Telfer | Telfer - Gold | Gold Sales from Doré Production      
SALES      
Sales   20  
Operating Segments | Telfer | Telfer - Gold | Gold Sales from Doré Production | Discontinued Operations      
SALES      
Sales 47    
Operating Segments | Telfer | Telfer - Gold | Sales from Concentrate and Other Production      
SALES      
Sales   115  
Operating Segments | Telfer | Telfer - Gold | Sales from Concentrate and Other Production | Discontinued Operations      
SALES      
Sales 195    
Operating Segments | Telfer | Telfer - Copper      
SALES      
Sales   17  
Operating Segments | Telfer | Telfer - Copper | Discontinued Operations      
SALES      
Sales 26    
Operating Segments | Telfer | Telfer - Copper | Gold Sales from Doré Production      
SALES      
Sales   0  
Operating Segments | Telfer | Telfer - Copper | Gold Sales from Doré Production | Discontinued Operations      
SALES      
Sales 0    
Operating Segments | Telfer | Telfer - Copper | Sales from Concentrate and Other Production      
SALES      
Sales   17  
Operating Segments | Telfer | Telfer - Copper | Sales from Concentrate and Other Production | Discontinued Operations      
SALES      
Sales 26    
Eliminations | NGM      
SALES      
Sales $ 2,338 $ 2,174 $ 2,022
v3.25.0.1
SALES - Trade Receivables and Provisional Sales (Details)
oz in Thousands, lb in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
oz
lb
$ / oz
$ / lb
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Revenue from Contract with Customer [Abstract]      
Increase (decrease) to sales from revenue recognized due to changes in final pricing | $ $ 125 $ 37 $ (34)
Gold      
Disaggregation of Revenue [Line Items]      
Provisionally Priced Sales Subject to Final Pricing (in ounces or pounds) | oz 265    
Average Provisional Price (in dollars per ounce or pound) | $ / oz 2,635    
Copper      
Disaggregation of Revenue [Line Items]      
Provisionally Priced Sales Subject to Final Pricing (in ounces or pounds) | lb 85    
Average Provisional Price (in dollars per ounce or pound) | $ / lb 3.99    
Silver      
Disaggregation of Revenue [Line Items]      
Provisionally Priced Sales Subject to Final Pricing (in ounces or pounds) | oz 6,000    
Average Provisional Price (in dollars per ounce or pound) | $ / oz 28.99    
Lead      
Disaggregation of Revenue [Line Items]      
Provisionally Priced Sales Subject to Final Pricing (in ounces or pounds) | lb 52    
Average Provisional Price (in dollars per ounce or pound) | $ / lb 0.88    
Zinc      
Disaggregation of Revenue [Line Items]      
Provisionally Priced Sales Subject to Final Pricing (in ounces or pounds) | lb 114    
Average Provisional Price (in dollars per ounce or pound) | $ / lb 1.34    
v3.25.0.1
SALES - Silver Streaming Agreement (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disaggregation of Revenue [Line Items]      
Streaming agreement, percentage of sales 25.00%    
Inflation adjustment (as a percent) 1.65%    
Sales $ 18,682 $ 11,812 $ 11,915
Liability related to streaming agreement 775 866  
Operating Segments      
Disaggregation of Revenue [Line Items]      
Sales 18,414 11,812 11,915
Operating Segments | Peñasquito      
Disaggregation of Revenue [Line Items]      
Sales   901 2,189
Operating Segments | Peñasquito | Penasquito - Silver      
Disaggregation of Revenue [Line Items]      
Sales   335 549
Operating Segments | Silver Streaming Agreement | Peñasquito | Penasquito - Silver      
Disaggregation of Revenue [Line Items]      
Sales $ 91 $ 42 $ 73
v3.25.0.1
SALES - Revenues by Geographic Area (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disaggregation of Revenue [Line Items]      
Sales $ 18,682 $ 11,812 $ 11,915
Operating Segments      
Disaggregation of Revenue [Line Items]      
Sales 18,414 11,812 11,915
Operating Segments | Peñasquito      
Disaggregation of Revenue [Line Items]      
Sales   901 2,189
Operating Segments | Peñasquito | Penasquito - Silver      
Disaggregation of Revenue [Line Items]      
Sales   335 549
Operating Segments | Silver Streaming Agreement | Peñasquito | Penasquito - Silver      
Disaggregation of Revenue [Line Items]      
Sales 91 42 73
United Kingdom      
Disaggregation of Revenue [Line Items]      
Sales 10,966 7,637 7,537
South Korea      
Disaggregation of Revenue [Line Items]      
Sales 1,956 975 1,426
Japan      
Disaggregation of Revenue [Line Items]      
Sales 1,920 512 442
Philippines      
Disaggregation of Revenue [Line Items]      
Sales 709 451 340
Switzerland      
Disaggregation of Revenue [Line Items]      
Sales 638 600 721
Mexico      
Disaggregation of Revenue [Line Items]      
Sales 600 240 604
Australia      
Disaggregation of Revenue [Line Items]      
Sales 409 376 7
United States      
Disaggregation of Revenue [Line Items]      
Sales 2 48 24
Other      
Disaggregation of Revenue [Line Items]      
Sales $ 1,482 $ 973 $ 814
v3.25.0.1
SALES - Revenue by Major Customer (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Concentration Risk [Line Items]      
Sales $ 18,682 $ 11,812 $ 11,915
Revenue from Contract with Customer, Product and Service Benchmark | Standard Chartered | Customers | Gold      
Concentration Risk [Line Items]      
Sales $ 4,833 $ 1,659 $ 4,179
Concentration risk percentage (as a percent) 26.00% 14.00% 35.00%
Revenue from Contract with Customer, Product and Service Benchmark | JP Morgan Chase | Customers | Gold      
Concentration Risk [Line Items]      
Sales $ 2,317 $ 2,583 $ 1,503
Concentration risk percentage (as a percent) 12.00% 22.00% 13.00%
Revenue from Contract with Customer, Product and Service Benchmark | Royal Bank of Canada | Customers | Gold      
Concentration Risk [Line Items]      
Sales $ 1,897 $ 1,765  
Concentration risk percentage (as a percent) 10.00% 15.00%  
Revenue from Contract with Customer, Product and Service Benchmark | Toronto Dominion Bank | Customers | Gold      
Concentration Risk [Line Items]      
Sales   $ 1,630  
Concentration risk percentage (as a percent)   14.00%  
v3.25.0.1
RECLAMATION AND REMEDIATION - Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Reclamation and remediation      
Reclamation accretion $ 365 $ 238  
Remediation accretion 7 7  
Reclamation and remediation [1] 8,963 6,699 $ 6,468
Reclamation and remediation      
Reclamation and remediation      
Reclamation adjustments and other (108) 1,207 646
Reclamation accretion 365 238 173
Reclamation expense 257 1,445 819
Remediation adjustments and other 64 81 96
Remediation accretion 7 7 6
Remediation expense 71 88 102
Reclamation and remediation $ 328 $ 1,533 $ 921
[1] Excludes Depreciation and amortization and Reclamation and remediation.
v3.25.0.1
RECLAMATION AND REMEDIATION - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Other non-current assets      
Reclamation and remediation      
Asset retirement obligation restricted assets $ 29 $ 81  
Other non-current assets | Equity Securities      
Reclamation and remediation      
Asset retirement obligation restricted assets 15 21  
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program      
Reclamation and remediation      
Restricted cash and restricted cash equivalents $ 93    
Maximum      
Reclamation and remediation      
Loss accrual possible shortfall (as a percent) 51.00%    
Minimum      
Reclamation and remediation      
Loss accrual possible shortfall (as a percent) (5.00%)    
Yanacocha      
Reclamation and remediation      
Reclamation adjustments and other $ (136) $ 1,101 $ 529
Porcupine      
Reclamation and remediation      
Reclamation adjustments and other     $ 91
v3.25.0.1
RECLAMATION AND REMEDIATION - Reconciliation of Obligation (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Reclamation      
Balance at beginning of period   $ 8,385 $ 6,731
Additions, changes in estimates and other   41 1,246
Additions from the Newcrest transaction and Acquisitions and divestitures   71 401
Payments, net   (351) (231)
Accretion expense   365 238
Reclassification to Liabilities held for sale   (1,496)  
Balance at end of period $ 7,015 7,015 8,385
Remediation      
Balance at beginning of period   401 373
Additions, changes in estimates and other   44 65
Additions from the Newcrest transaction / Acquisitions and divestitures   0 0
Payments, net   (82) (44)
Accretion expense   7 7
Reclassification to Liabilities held for sale   0  
Balance at end of period 370 370 401
Total      
Balance at beginning of period   8,786 7,104
Additions, changes in estimates and other   85 1,311
Additions from the Newcrest transaction / Acquisitions and divestitures   71 401
Payments, net   (433) (275)
Accretion expense   372 245
Reclassification to Liabilities held for sale   (1,496)  
Balance at end of period $ 7,385 $ 7,385 $ 8,786
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration] Other Liabilities, Current Other Liabilities, Current Other Liabilities, Current
Newcrest Mining Limited      
Reclamation      
Additions from the Newcrest transaction and Acquisitions and divestitures   $ 349  
Telfer      
Reclamation      
Additions from the Newcrest transaction and Acquisitions and divestitures $ 278    
Minera Yanacocha      
Reclamation      
Balance at beginning of period   4,804  
Balance at end of period $ 4,546 $ 4,546 $ 4,804
v3.25.0.1
RECLAMATION AND REMEDIATION - Liability Classifications (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Environmental Exit Cost [Line Items]      
Reclamation liabilities, current $ 928 $ 558  
Reclamation liabilities, non-current 6,087 7,827  
Total reclamation liabilities 7,015 8,385 $ 6,731
Remediation liabilities, current 63 61  
Remediation liabilities, non-current 307 340  
Total remediation liabilities 370 401 373
Reclamation and remediation liabilities, current 991 619  
Reclamation and remediation liabilities, non-current 6,394 8,167  
Reclamation and remediation liabilities 7,385 8,786 $ 7,104
Minera Yanacocha      
Environmental Exit Cost [Line Items]      
Total reclamation liabilities $ 4,546 $ 4,804  
v3.25.0.1
IMPAIRMENT CHARGES - Schedule of Impairment of Long-Lived Assets and Goodwill (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Impairment of long-lived and other assets      
Long-lived and other assets $ 78 $ 131 $ 520
Goodwill   1,760 800
Total 78 1,891 1,320
NGM      
Impairment of long-lived and other assets      
Goodwill   11  
Peñasquito      
Impairment of long-lived and other assets      
Goodwill   1,210  
Musselwhite      
Impairment of long-lived and other assets      
Goodwill   293  
Éléonore      
Impairment of long-lived and other assets      
Goodwill   246  
Operating Segments | NGM      
Impairment of long-lived and other assets      
Long-lived and other assets 25 75 1
Goodwill   11 0
Total 25 86 1
Operating Segments | Peñasquito      
Impairment of long-lived and other assets      
Long-lived and other assets 19 21 4
Goodwill   1,210 0
Total 19 1,231 4
Operating Segments | Cerro Negro      
Impairment of long-lived and other assets      
Long-lived and other assets 2 5 0
Goodwill   0 459
Total 2 5 459
Operating Segments | CC&V      
Impairment of long-lived and other assets      
Long-lived and other assets 1 4 511
Goodwill   0 0
Total 1 4 511
Operating Segments | Musselwhite      
Impairment of long-lived and other assets      
Long-lived and other assets 0 4 0
Goodwill   293 0
Total 0 297 0
Operating Segments | Éléonore      
Impairment of long-lived and other assets      
Long-lived and other assets 0 0 0
Goodwill   246 0
Total 0 246 0
Operating Segments | Porcupine      
Impairment of long-lived and other assets      
Long-lived and other assets 0 5 0
Goodwill   0 341
Total 0 5 341
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment      
Impairment of long-lived and other assets      
Long-lived and other assets 31 17 4
Goodwill   0 0
Total $ 31 $ 17 $ 4
v3.25.0.1
IMPAIRMENT CHARGES - Additional Information (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
$ / oz
Dec. 31, 2022
USD ($)
$ / oz
Impairment of long-lived and other assets      
Goodwill   $ 1,760 $ 800
Impairment charges (Note 7) $ 78 131 $ 520
Property, plant and mine development, net 33,547 $ 37,563  
Valuation, Income Approach | Measurement Input, Short-Term Gold Price      
Impairment of long-lived and other assets      
Long-lived and other assets, measurement input | $ / oz   1,950 1,750
Valuation, Income Approach | Measurement Input, Long-Term Gold Price      
Impairment of long-lived and other assets      
Long-lived and other assets, measurement input | $ / oz   1,700 1,600
Valuation, Income Approach | Discount rate      
Impairment of long-lived and other assets      
Long-lived and other assets, measurement input     0.0675
Valuation, Income Approach | Discount rate | Canada      
Impairment of long-lived and other assets      
Long-lived and other assets, measurement input     0.0450
Valuation, Income Approach | Discount rate | Argentina      
Impairment of long-lived and other assets      
Long-lived and other assets, measurement input     0.14
Musselwhite      
Impairment of long-lived and other assets      
Goodwill   $ 293  
Musselwhite | Valuation, Income Approach | Discount rate      
Impairment of long-lived and other assets      
Long-lived and other assets, measurement input   0.1000  
Peñasquito      
Impairment of long-lived and other assets      
Goodwill   $ 1,210  
Peñasquito | Valuation, Income Approach | Discount rate      
Impairment of long-lived and other assets      
Long-lived and other assets, measurement input   0.0675  
NGM      
Impairment of long-lived and other assets      
Goodwill   $ 11  
Éléonore      
Impairment of long-lived and other assets      
Goodwill   $ 246  
Éléonore | Valuation, Income Approach | Discount rate      
Impairment of long-lived and other assets      
Long-lived and other assets, measurement input   0.1750  
Cerro Negro | Valuation, Income Approach | Discount rate      
Impairment of long-lived and other assets      
Long-lived and other assets, measurement input     0.14
Operating Segments | Musselwhite      
Impairment of long-lived and other assets      
Goodwill   $ 293 $ 0
Impairment charges (Note 7) 0 4 0
Operating Segments | Peñasquito      
Impairment of long-lived and other assets      
Goodwill   1,210 0
Impairment charges (Note 7) 19 21 4
Operating Segments | NGM      
Impairment of long-lived and other assets      
Goodwill   11 0
Impairment charges (Note 7) 25 75 1
Property, plant and mine development, net 2 22  
Operating Segments | Éléonore      
Impairment of long-lived and other assets      
Goodwill   246 0
Impairment charges (Note 7) 0 0 0
Operating Segments | Porcupine      
Impairment of long-lived and other assets      
Goodwill   0 341
Impairment charges (Note 7) 0 5 0
Operating Segments | Cerro Negro      
Impairment of long-lived and other assets      
Goodwill   0 459
Impairment charges (Note 7) 2 5 0
Operating Segments | CC&V      
Impairment of long-lived and other assets      
Goodwill   0 0
Impairment charges (Note 7) $ 1 $ 4 511
Property, plant and mine development, net     $ 25
v3.25.0.1
OTHER EXPENSE, NET (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Other Income And Expense [Line Items]      
Settlement costs $ 44 $ 7 $ 22
Restructuring and severance 38 24 4
COVID-19 specific costs 0 1 38
Other 37 21 18
Other expense, net 191 517 82
Stamp duty tax incurred in connection with the newcrest transaction   316  
Newcrest Mining Limited      
Other Income And Expense [Line Items]      
Newcrest transaction and integration costs $ 72 $ 464 $ 0
v3.25.0.1
OTHER INCOME (LOSS), NET - Components of Other (Loss), Net (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]      
Interest income $ 152 $ 148 $ 78
Foreign currency exchange 101 (56) (5)
Change in fair value of investments and options 62 $ (47) (46)
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]   Other income (loss), net  
Gain (loss) on asset and investment sales 35 $ (197) 35
Gain on debt extinguishment 32 0 0
Insurance proceeds 12 37 14
Pension settlements (1) (9) (137)
Other 32 36 34
Other income (loss), net 425 (88) $ (27)
Ahafo      
Schedule of Equity Method Investments [Line Items]      
Insurance proceeds 12 11  
Ahafo | Other income, net      
Schedule of Equity Method Investments [Line Items]      
Insurance proceeds   6  
Tanami      
Schedule of Equity Method Investments [Line Items]      
Insurance proceeds   45  
Tanami | Other income, net      
Schedule of Equity Method Investments [Line Items]      
Insurance proceeds   31  
Interest Rate Contract      
Schedule of Equity Method Investments [Line Items]      
Other comprehensive income (loss), gain (loss) reclassified, before tax 6    
Senior Notes      
Schedule of Equity Method Investments [Line Items]      
Gain on debt extinguishment 38    
MARA Investment      
Schedule of Equity Method Investments [Line Items]      
Ownership percentage (as a percent)     18.75%
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Stream Credit Facility Agreement      
Schedule of Equity Method Investments [Line Items]      
Gain (loss) on asset and investment sales 49    
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Penasquito Conveying System      
Schedule of Equity Method Investments [Line Items]      
Gain (loss) on asset and investment sales $ (29)    
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Pyrite Leach Plant      
Schedule of Equity Method Investments [Line Items]      
Gain (loss) on asset and investment sales   $ (235)  
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Alumbrera mine/MARA      
Schedule of Equity Method Investments [Line Items]      
Gain (loss) on asset and investment sales     $ 61
v3.25.0.1
INCOME AND MINING TAXES - Tax benefit (expense) - Current vs Deferred (Detail) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Current:      
Current: United States $ (93) $ (20) $ (47)
Current: Foreign (1,224) (610) (686)
Current income taxes (1,317) (630) (733)
Deferred:      
Deferred: United States (157) 62 236
Deferred: Foreign 77 42 42
Deferred income taxes (80) 104 278
Income and mining tax benefit (expense) $ (1,397) $ (526) $ (455)
v3.25.0.1
INCOME AND MINING TAXES - Domestic Vs Foreign (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income (loss) before income and mining tax and other items      
United States $ 536 $ 111 $ (566)
Foreign 4,041 (2,142) 515
​Income (loss) before income and mining tax and other items $ 4,577 $ (2,031) $ (51)
v3.25.0.1
INCOME AND MINING TAXES - Rate Reconciliation (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Jun. 30, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]        
Income (loss) before income and mining tax and other items   $ 4,577 $ (2,031) $ (51)
Reconciling item, percentage        
U.S. Federal statutory tax rate   21.00% 21.00% 21.00%
Percentage depletion   (1.00%) 4.00% 90.00%
Change in valuation allowance on deferred tax assets   (8.00%) (18.00%) (569.00%)
Rate differential for foreign earnings indefinitely reinvested   9.00% 7.00% (151.00%)
Mining and other taxes (net of associated federal benefit)   5.00% (4.00%) (231.00%)
Uncertain tax positions   (1.00%) 1.00% 261.00%
Akyem recognition of DTL for assets held for sale   0.01 0 0
Goodwill write-downs   0.00% (25.00%) (482.00%)
Expiration of U.S. capital losses and foreign tax credits   1.00% (10.00%) (61.00%)
Transactions   0.00% 0.00% 100.00%
Other   4.00% (2.00%) 130.00%
Income and mining tax benefit (expense)   31.00% (26.00%) (892.00%)
Reconciling item, amount        
U.S. Federal statutory tax rate   $ (961) $ 427 $ 11
Percentage depletion   63 72 46
Change in valuation allowance on deferred tax assets   302 (358) (290)
Rate differential for foreign earnings indefinitely reinvested   (398) 148 (77)
Mining and other taxes (net of associated federal benefit)   (237) (87) (118)
Uncertain tax positions   63 28 133
Akyem recognition of DTL for assets held for sale   (49) 0 0
Goodwill write-downs   0 (498) (246)
Expiration of U.S. capital losses and foreign tax credits   (47) (195) (31)
Transactions   0 (1) 51
Other   (133) (62) 66
Income and mining tax benefit (expense)   (1,397) (526) (455)
Income Tax Contingency [Line Items]        
Income tax expense (benefit)   $ 1,397 $ 526 $ 455
Deferred tax asset, valuation allowance, release $ 29      
Mexican Tax Authority        
Reconciling item, amount        
Income and mining tax benefit (expense) 125      
Income Tax Contingency [Line Items]        
Income tax expense (benefit) (125)      
Unrecognized tax benefits, period increase (decrease) $ (95)      
v3.25.0.1
INCOME AND MINING TAXES - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Dec. 31, 2017
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Loss Carryforwards [Line Items]          
Expiration of capital loss carryforwards     $ 222 $ 0 $ 0
Expiration of foreign tax credits     0 193 31
Increase (decrease) in valuation allowance     302    
Valuation allowance     4,363 4,652  
Operating loss carryforwards     2,005 3,678  
Tax credit carryforwards     414 513  
Operating loss carryforwards not subject to expiration     760 989  
Unrecognized tax benefits affecting effective tax rate     125 190 219
Unrecognized tax benefits, interest and penalties     47 78  
Interest and penalties for unrecognized tax benefits accrued (released) during the period     (31) 1 $ (61)
Minimum          
Operating Loss Carryforwards [Line Items]          
Significant decrease in unrecognized tax benefits is reasonably possible, estimated range of change     10    
Maximum          
Operating Loss Carryforwards [Line Items]          
Significant decrease in unrecognized tax benefits is reasonably possible, estimated range of change     30    
Australian Taxation Office ("ATO")          
Operating Loss Carryforwards [Line Items]          
Potential interest disputed $ 85        
Amount paid to preserve right to contest conclusions of ATO $ 24        
Administracion Federal De Ingresos Publicos (AFIP)          
Operating Loss Carryforwards [Line Items]          
Tax amnesty program, settlement payment     8    
Administracion Federal De Ingresos Publicos (AFIP) | Forecast          
Operating Loss Carryforwards [Line Items]          
Tax amnesty program, settlement payment   $ 26      
Canada          
Operating Loss Carryforwards [Line Items]          
Operating loss carryforwards subject to expiration     772    
Canada | Investment Tax Credit Carryforward          
Operating Loss Carryforwards [Line Items]          
Tax credit carryforwards     77 210  
Canada | Investment Tax Credit Carryforward | Expiration Year, 2043          
Operating Loss Carryforwards [Line Items]          
Tax credit carryforward, subject to expiration     72    
Canada | Investment Tax Credit Carryforward | Expiration Year, 2042          
Operating Loss Carryforwards [Line Items]          
Tax credit carryforward, subject to expiration     5    
Mexico          
Operating Loss Carryforwards [Line Items]          
Operating loss carryforwards subject to expiration     173    
Other          
Operating Loss Carryforwards [Line Items]          
Operating loss carryforwards subject to expiration     300    
United States | Foreign Tax Credits | Expiration Year, 2029          
Operating Loss Carryforwards [Line Items]          
Tax credit carryforward, subject to expiration     414 284  
United States | Solar Tax Credits | Expiration Year, 2045          
Operating Loss Carryforwards [Line Items]          
Tax credit carryforward, subject to expiration     27 $ 19  
Newcrest Mining Limited          
Operating Loss Carryforwards [Line Items]          
Valuation allowance     $ 168    
v3.25.0.1
INCOME AND MINING TAXES - Components of Deferred Tax Assets (Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Deferred income tax assets:    
Property, plant and mine development $ 887 $ 746
Inventory 132 320
Reclamation and remediation 2,077 2,362
Net operating losses, capital losses and tax credits  2,297 2,655
Employee-related benefits 24 97
Derivative instruments and unrealized loss on investments 79 69
Foreign exchange and financing obligations 58 86
Silver streaming agreement 253 332
Other 555 643
Deferred tax assets gross 6,362 7,310
Valuation allowances (4,363) (4,652)
Deferred tax assets net 1,999 2,658
Deferred income tax liabilities:    
Property, plant and mine development (3,749) (4,425)
Inventory (132) (160)
Investment in partnerships and subsidiaries  (582) (579)
Other (232) (213)
Deferred tax liabilities (4,695) (5,377)
Net deferred income tax assets (liabilities) $ (2,696) $ (2,719)
v3.25.0.1
INCOME AND MINING TAXES - Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Reconciliation Of Unrecognized Tax Benefits      
Total amount of gross unrecognized tax benefits at beginning of year $ 144 $ 190 $ 245
Additions for tax positions of prior years   13  
Reductions for tax positions of prior years (8)   (1)
Additions for tax positions of current year  0 2 0
Reductions due to settlements with taxing authorities  (2) (18) (53)
Reductions due to lapse of statute of limitations  (23) (43) (1)
Total amount of gross unrecognized tax benefits at end of year $ 111 $ 144 $ 190
v3.25.0.1
EMPLOYEE-RELATED BENEFITS - Current and Long-Term Employee-Related Benefits (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current:    
Accrued payroll and withholding taxes  $ 461 $ 477
Workers’ participation and other bonuses 108 10
Accrued severance 19 13
Other post-retirement benefit plans 11 11
Employee pension benefits  5 6
Other employee-related payables  26 34
Employee-related benefits, current 630 551
Non-current:    
Accrued severance 386 439
Other post-retirement benefit plans  55 66
Employee pension benefits  29 35
Other employee-related payables  85 115
Employee-related benefits, non-current $ 555 $ 655
v3.25.0.1
EMPLOYEE-RELATED BENEFITS - Benefit Obligations and Assets (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Change in benefit obligation:      
Actuarial loss (gain) $ (24) $ 21  
Change in fair value of assets:      
Other non-current assets 866 640  
Employee-related benefits, current (630) (551)  
Employee-related benefits, non-current (555) (655)  
Pension Benefits      
Change in benefit obligation:      
Benefit obligation at beginning of year 325 311  
Service cost 14 12 $ 15
Interest cost 17 17 19
Actuarial loss (gain) (14) 17  
Foreign currency exchange (gain) loss (6) 3  
Benefits paid (20) (7)  
Amendments 0 2  
Settlement payments (3) (30)  
Projected benefit obligation at end of year 313 325 311
Accumulated benefit obligation 294 306  
Change in fair value of assets:      
Fair value of assets at beginning of year 322 311  
Actual return (loss) on plan assets 11 32  
Foreign currency exchange gain (loss) (4) 2  
Employer contributions 7 14  
Benefits paid (20) (7)  
Settlement payments (3) (30)  
Fair value of assets at end of year 313 322 311
(Unfunded) funded status, net: 0 (3)  
Other non-current assets 37 38  
Employee-related benefits, current (5) (6)  
Employee-related benefits, non-current (32) (35)  
Pension Benefits | Discontinued Operations, Held-for-Sale | Portfolio Optimization Program | Porcupine      
Change in fair value of assets:      
Non-current assets transferred to held for sale 4    
Non-current liabilities transferred to held for sale (3)    
Other Benefits      
Change in benefit obligation:      
Benefit obligation at beginning of year 71 66  
Service cost 1 1 1
Interest cost 4 4 3
Actuarial loss (gain) (10) 4  
Foreign currency exchange (gain) loss (2) 0  
Benefits paid (4) (4)  
Amendments 0 0  
Settlement payments 0 0  
Projected benefit obligation at end of year 60 71 66
Accumulated benefit obligation 60 71  
Change in fair value of assets:      
Fair value of assets at beginning of year 0 0  
Actual return (loss) on plan assets 0 0  
Foreign currency exchange gain (loss) 0 0  
Employer contributions 4 4  
Benefits paid (4) (4)  
Settlement payments 0 0  
Fair value of assets at end of year 0 0 $ 0
(Unfunded) funded status, net: (60) (71)  
Other non-current assets 0 0  
Employee-related benefits, current (5) (6)  
Employee-related benefits, non-current $ (55) $ (65)  
v3.25.0.1
EMPLOYEE-RELATED BENEFITS - Benefit Obligations and Assets in Excess of Plan Amounts (Details) - Pension Benefits - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pension and other post-retirement costs, net      
Projected benefit obligation $ 313 $ 325 $ 311
Accumulated benefit obligation 294 306  
Fair value of plan assets 313 322 $ 311
Unfunded Plan      
Pension and other post-retirement costs, net      
Projected benefit obligation 39 42  
Accumulated benefit obligation 32 35  
Fair value of plan assets $ 2 $ 1  
v3.25.0.1
EMPLOYEE-RELATED BENEFITS - Additional Information (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
USD ($)
calculation
plan
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Pension and other post-retirement costs, net        
Actuarial gain (loss)   $ 24 $ (21)  
Pension settlements   $ (1) $ (9) $ (137)
Pension obligations transferred       527
Non-cash settlement loss       130
Period for look-back of average actual return on plan assets (in years)   36 years    
Defined benefit plan, net periodic benefit cost, actual long term return on assets   7.52%    
Final average pay, number of years included in calculation (in years)   5 years    
United States | Qualified Plan        
Pension and other post-retirement costs, net        
Number of plans | plan   1    
Percentage of employee contributions matched   100.00%    
Maximum employer match, as a percentage of eligible earnings   6.00%    
Additional employer match, as percentage of eligible earnings, non-union   5.00%    
United States | Non-qualified plan        
Pension and other post-retirement costs, net        
Number of plans | plan   1    
Pension Benefits        
Pension and other post-retirement costs, net        
Discount rate (as a percent)   5.77% 5.33%  
Actuarial gain (loss)   $ 14 $ (17)  
Pension settlements   $ (1) $ (9) $ (137)
Expected return on plan assets    7.09% 6.38% 6.75%
Number of calculation methods for salaried U.S. employees | calculation   2    
Pension Benefits | Forecast        
Pension and other post-retirement costs, net        
Expected return on plan assets  7.20%      
Other Benefits        
Pension and other post-retirement costs, net        
Actuarial gain (loss)   $ 10 $ (4)  
Pension settlements   $ 0 $ 0 $ 0
Defined benefit plan, health care cost trend rate assumed, next fiscal year   6.50%    
Defined benefit plan, ultimate health care cost trend rate   5.00%    
v3.25.0.1
EMPLOYEE-RELATED BENEFITS - Net Pension and Other Benefit Amounts Recognized in OCI (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Accumulated other comprehensive income (loss):        
Total equity $ 30,109 $ 29,205 $ 19,533 $ 21,813
Pension and Other Post-retirement Benefit Adjustments        
Accumulated other comprehensive income (loss):        
Total equity (28) (36) $ (27)  
Pension Benefits | Pension and Other Post-retirement Benefit Adjustments        
Accumulated other comprehensive income (loss):        
Net actuarial gain (loss) (71) (76)    
Prior service credit 2 4    
Accumulated other comprehensive income (loss) before tax (69) (72)    
Less: Income taxes 15 16    
Total equity (54) (56)    
Other Benefits | Pension and Other Post-retirement Benefit Adjustments        
Accumulated other comprehensive income (loss):        
Net actuarial gain (loss) 33 24    
Prior service credit 0 1    
Accumulated other comprehensive income (loss) before tax 33 25    
Less: Income taxes (7) (5)    
Total equity $ 26 $ 20    
v3.25.0.1
EMPLOYEE-RELATED BENEFITS - Net Periodic Pension Costs and Components Recognized in OCI (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pension benefit cost (income), net      
Settlement cost $ 1 $ 9 $ 137
Pension Benefits      
Pension benefit cost (income), net      
Service cost  14 12 15
Interest cost  17 17 19
Expected return on plan assets  (24) (23) (35)
Amortization, net 1 (7) 2
Net periodic benefit cost (income) 8 (1) 1
Settlement cost 1 9 137
Total benefit cost (income) 9 8 138
Components recognized in Other comprehensive income (loss)      
Net loss (gain) (1) 8 (20)
Amortization, net (1) 7 (2)
Prior service cost 0 2 0
Settlements (1) (9) (137)
Total recognized in other comprehensive income (loss) (3) 8 (159)
Total benefit cost (credit) and other comprehensive income (loss) 6 16 (21)
Other Benefits      
Pension benefit cost (income), net      
Service cost  1 1 1
Interest cost  4 4 3
Expected return on plan assets  0 0 0
Amortization, net (2) (2) (3)
Net periodic benefit cost (income) 3 3 1
Settlement cost 0 0 0
Total benefit cost (income) 3 3 1
Components recognized in Other comprehensive income (loss)      
Net loss (gain) (10) 3 (20)
Amortization, net 2 2 3
Prior service cost 0 0 0
Settlements 0 0 0
Total recognized in other comprehensive income (loss) (8) 5 (17)
Total benefit cost (credit) and other comprehensive income (loss) $ (5) $ 8 $ (16)
v3.25.0.1
EMPLOYEE-RELATED BENEFITS - Significant Assumptions (Details)
 3 Months Ended 9 Months Ended 12 Months Ended
Mar. 25, 2022
Dec. 31, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pension Benefits          
Pension and other post-retirement costs, net          
Discount rate 3.03% 4.09% 5.33% 5.63% 4.09%
Expected return on plan assets      7.09% 6.38% 6.75%
Other Benefits          
Pension and other post-retirement costs, net          
Discount rate     6.09% 6.10% 3.03%
v3.25.0.1
EMPLOYEE-RELATED BENEFITS - Asset Allocation (Details) - Pension Benefits
Dec. 31, 2024
Fixed income investments  
Pension and other post-retirement costs, net  
Target asset allocation (as a percent) 45.00%
Actual asset allocation (as a percent) 44.00%
World equity fund (U.S. and International equity investments)  
Pension and other post-retirement costs, net  
Target asset allocation (as a percent) 20.00%
Actual asset allocation (as a percent) 20.00%
International equity investments  
Pension and other post-retirement costs, net  
Target asset allocation (as a percent) 12.00%
Actual asset allocation (as a percent) 12.00%
U.S. equity investments   
Pension and other post-retirement costs, net  
Target asset allocation (as a percent) 11.00%
Actual asset allocation (as a percent) 11.00%
Real estate  
Pension and other post-retirement costs, net  
Target asset allocation (as a percent) 8.00%
Actual asset allocation (as a percent) 9.00%
High yield fixed income investments  
Pension and other post-retirement costs, net  
Target asset allocation (as a percent) 4.00%
Actual asset allocation (as a percent) 4.00%
Cash equivalents  
Pension and other post-retirement costs, net  
Target asset allocation (as a percent) 0.00%
Actual asset allocation (as a percent) 0.00%
v3.25.0.1
EMPLOYEE-RELATED BENEFITS - Fair Value of Plan Assets (Details) - Pension Benefits - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pension and other post-retirement costs, net      
Fair value of assets $ 313 $ 322 $ 311
Comingled Funds      
Pension and other post-retirement costs, net      
Fair value of assets 312 321  
Fixed income investments      
Pension and other post-retirement costs, net      
Fair value of assets 143 152  
World equity fund (U.S. and International equity investments)      
Pension and other post-retirement costs, net      
Fair value of assets 54 54  
International equity investments      
Pension and other post-retirement costs, net      
Fair value of assets 45 45  
U.S. equity investments       
Pension and other post-retirement costs, net      
Fair value of assets 34 34  
Real estate      
Pension and other post-retirement costs, net      
Fair value of assets 25 25  
High yield fixed income investments      
Pension and other post-retirement costs, net      
Fair value of assets 11 11  
Cash equivalents      
Pension and other post-retirement costs, net      
Fair value of assets $ 1 $ 1  
v3.25.0.1
EMPLOYEE-RELATED BENEFITS - Expected Future Benefit Payments (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Pension Benefits  
Pension and other post-retirement costs, net  
2025 $ 21
2026 21
2027 21
2028 24
2029 24
Thereafter 131
Other Benefits  
Pension and other post-retirement costs, net  
2025 6
2026 6
2027 5
2028 5
2029 5
Thereafter $ 26
v3.25.0.1
STOCK-BASED COMPENSATION - Additional Information (Details) - USD ($)
$ / shares in Units, $ in Millions
 1 Months Ended 12 Months Ended
Feb. 28, 2018
Jan. 31, 2018
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Shares authorized for future stock incentive plan awards (in shares)     18,993,357    
Weighted-average fair market value (in dollars per share)     $ 33.91 $ 50.39 $ 77.00
Excess tax benefits (deficiency)     $ (3) $ (1) $ 5
Unrecognized compensation cost expected to be recognized on a weighted-average basis, period (in years)     2 years    
Restricted stock units          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock award vesting period (in years) 1 year 3 years      
Number of shares issuable per vested unit (in shares) 1        
Total intrinsic value     $ 37 36 62
Unrecognized compensation cost related to unvested stock     $ 62    
Performance leveraged stock units          
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]          
Stock award performance period (in years)     3 years    
Weighted-average fair market value (in dollars per share)     $ 30.01    
Total intrinsic value     $ 6 $ 35 $ 47
Unrecognized compensation cost related to unvested stock     $ 38    
v3.25.0.1
STOCK-BASED COMPENSATION - Assumptions Using Monte Carlo Valuation Model (Details) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]      
Risk-free interest rate 4.40% 4.45% 1.61%
Volatility range, minimum 17.50% 34.24% 31.78%
Volatility range, maximum 76.70% 81.36% 81.77%
Weighted-average volatility 47.71% 55.24% 54.89%
Expected term (years) 3 years 3 years 3 years
Weighted-average fair market value (in dollars per share) $ 33.91 $ 50.39 $ 77.00
v3.25.0.1
STOCK-BASED COMPENSATION - Activity (Details)
 12 Months Ended
Dec. 31, 2024
$ / shares
shares
RSU  
Number of Shares  
Non-vested at beginning of year (in shares) | shares 2,102,567
Granted (in shares) | shares 2,509,780
Vested (in shares) | shares (1,011,308)
Forfeited (in shares) | shares (322,569)
Non-vested at end of year (in shares) | shares 3,278,470
Weighted Average Grant-Date Fair Value  
Nonvested at beginning of year (in dollars per share) | $ / shares $ 48.95
Granted (in dollars per share) | $ / shares 31.20
Vested (in dollars per share) | $ / shares 50.60
Forfeited (in dollars per share) | $ / shares 35.91
Nonvested at end of year (in dollars per share) | $ / shares $ 36.13
PSU  
Number of Shares  
Non-vested at beginning of year (in shares) | shares 1,193,535
Granted (in shares) | shares 878,974
Vested (in shares) | shares (173,982)
Forfeited (in shares) | shares (256,814)
Non-vested at end of year (in shares) | shares 1,641,713
Weighted Average Grant-Date Fair Value  
Nonvested at beginning of year (in dollars per share) | $ / shares $ 60.60
Granted (in dollars per share) | $ / shares 28.00
Vested (in dollars per share) | $ / shares 65.41
Forfeited (in dollars per share) | $ / shares 48.22
Nonvested at end of year (in dollars per share) | $ / shares $ 44.58
v3.25.0.1
STOCK-BASED COMPENSATION - Compensation Costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock-based compensation $ 89 $ 80 $ 76
Restricted stock units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock-based compensation 63 52 49
Performance leveraged stock units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock-based compensation 20 24 24
Other      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total stock-based compensation $ 6 $ 4 $ 3
v3.25.0.1
FAIR VALUE ACCOUNTING - Recurring Basis (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Assets:    
Assets held for sale $ 672  
Marketable and other equity securities 212 $ 0
Carrying value    
Liabilities:    
Debt 8,476 8,874
Level 3    
Assets:    
Other assets 61  
Recurring    
Assets:    
Cash and cash equivalents 3,619 3,002
Restricted cash 31 98
Assets held for sale 1,840  
Equity method investments 212  
Derivative assets 142 642
Other assets 61  
Total assets 7,218 4,749
Liabilities:    
Debt 8,400 8,975
Derivative liabilities 143 8
Other liabilities 51  
Total liabilities 8,594 8,983
Recurring | Discontinued Operations, Held-for-Sale | Portfolio Optimization Program    
Assets:    
Assets held for sale 679  
Recurring | Level 1    
Assets:    
Cash and cash equivalents 3,619 3,002
Restricted cash 31 98
Assets held for sale 0  
Equity method investments 212  
Derivative assets 0 0
Other assets 0  
Total assets 4,182 3,364
Liabilities:    
Debt 0 0
Derivative liabilities 0 0
Other liabilities 0  
Total liabilities 0 0
Recurring | Level 2    
Assets:    
Cash and cash equivalents 0 0
Restricted cash 0 0
Assets held for sale 1,168  
Equity method investments 0  
Derivative assets 0 7
Other assets 0  
Total assets 2,161 750
Liabilities:    
Debt 8,400 8,975
Derivative liabilities 137 3
Other liabilities 51  
Total liabilities 8,588 8,978
Recurring | Level 3    
Assets:    
Cash and cash equivalents 0 0
Restricted cash 0 0
Assets held for sale 672  
Equity method investments 0  
Derivative assets 142 635
Other assets 61  
Total assets 875 635
Liabilities:    
Debt 0 0
Derivative liabilities 6 5
Other liabilities 0  
Total liabilities 6 5
Recurring | Trade receivables from provisional concentrate sales, net     
Assets:    
Trade receivables from provisional concentrate sales, net  993 734
Recurring | Trade receivables from provisional concentrate sales, net  | Level 1    
Assets:    
Trade receivables from provisional concentrate sales, net  0 0
Recurring | Trade receivables from provisional concentrate sales, net  | Level 2    
Assets:    
Trade receivables from provisional concentrate sales, net  993 734
Recurring | Trade receivables from provisional concentrate sales, net  | Level 3    
Assets:    
Trade receivables from provisional concentrate sales, net  0 0
Recurring | Marketable and other equity securities    
Assets:    
Marketable and other equity securities 305 252
Recurring | Marketable and other equity securities | Level 1    
Assets:    
Marketable and other equity securities 305 243
Recurring | Marketable and other equity securities | Level 2    
Assets:    
Marketable and other equity securities 0 9
Recurring | Marketable and other equity securities | Level 3    
Assets:    
Marketable and other equity securities 0 0
Recurring | Restricted marketable debt securities    
Assets:    
Restricted marketable debt securities 15 21
Recurring | Restricted marketable debt securities | Level 1    
Assets:    
Restricted marketable debt securities 15 21
Recurring | Restricted marketable debt securities | Level 2    
Assets:    
Restricted marketable debt securities 0 0
Recurring | Restricted marketable debt securities | Level 3    
Assets:    
Restricted marketable debt securities $ 0 $ 0
v3.25.0.1
FAIR VALUE ACCOUNTING - Additional Information (Details)
$ in Millions
 1 Months Ended 3 Months Ended
Feb. 29, 2024
asset
Mar. 31, 2024
asset
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Carrying value and Fair value          
Goodwill     $ 2,658 $ 3,001 $ 1,971
Derivative assets (Note 14)     142 444  
Operating cash flow hedges | Designated Hedge          
Carrying value and Fair value          
Derivative liabilities     136 0  
Cadia PPA cash flow hedge | Operating cash flow hedges | Designated Hedge          
Carrying value and Fair value          
Derivative liabilities     1 0  
Non-Contingent Consideration Derivative | Designated Hedge          
Carrying value and Fair value          
Derivative assets (Note 14)     95 0  
Peñasquito          
Carrying value and Fair value          
Goodwill     0 0 1,164
Musselwhite          
Carrying value and Fair value          
Goodwill     0 0 293
Éléonore          
Carrying value and Fair value          
Goodwill     $ 0 $ 0 $ 246
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program          
Carrying value and Fair value          
Number of non-core assets to be divested | asset 6 6      
v3.25.0.1
FAIR VALUE ACCOUNTING - Quantitative Information (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Quantitative and Qualitative Information - Unobservable Inputs    
Assets held for sale $ 672  
Level 3    
Quantitative and Qualitative Information - Unobservable Inputs    
Contingent consideration assets 47 $ 211
Other assets 61  
Derivative liabilities 5 5
Level 3 | Designated Hedge    
Quantitative and Qualitative Information - Unobservable Inputs    
Derivative asset $ 94  
Level 3 | Not Designated as Hedging Instrument    
Quantitative and Qualitative Information - Unobservable Inputs    
Derivative asset   $ 424
Level 3 | Income approach | Minimum | Discount rate    
Quantitative and Qualitative Information - Unobservable Inputs    
Derivative asset, measurement input (as a percent)   0.0628
Contingent consideration asset, measurement input (as a percent) 0.0637 0.0804
Derivative liabilities, measurement input (as a percent) 0.0522 0.0491
Level 3 | Income approach | Minimum | Designated Hedge | Discount rate    
Quantitative and Qualitative Information - Unobservable Inputs    
Derivative asset, measurement input (as a percent) 43.00  
Level 3 | Income approach | Maximum | Discount rate    
Quantitative and Qualitative Information - Unobservable Inputs    
Derivative asset, measurement input (as a percent)   0.1050
Contingent consideration asset, measurement input (as a percent) 0.1638 0.2643
Derivative liabilities, measurement input (as a percent) 0.0595 0.0615
Level 3 | Income approach | Maximum | Designated Hedge | Discount rate    
Quantitative and Qualitative Information - Unobservable Inputs    
Derivative asset, measurement input (as a percent) 321.00  
Level 3 | Income approach | Weighted Average | Discount rate    
Quantitative and Qualitative Information - Unobservable Inputs    
Derivative asset, measurement input (as a percent) 0.0675 0.0903
Contingent consideration asset, measurement input (as a percent) 0.1067 0.1118
Other assets, measurement input (as a percent) 0.0660  
Derivative liabilities, measurement input (as a percent) 0.0566 0.0565
v3.25.0.1
FAIR VALUE ACCOUNTING - Changes in the Fair Value of Level 3 Financial Assets and Liabilities (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Sep. 30, 2024
Jun. 30, 2024
Dec. 31, 2024
Dec. 31, 2023
Summary of changes in Level 3 financial assets        
Balance at beginning of period, assets     $ 635 $ 188
Acquisitions       424
Settlements     (76)  
Revaluation gain (loss)     (40) 23
Sales     (377)  
Balance at end of period, assets     142 635
Summary of changes in Level 3 financial liabilities        
Balance at beginning of period, liabilities     5 3
Acquisitions       0
Settlements     0  
Revaluation gain (loss)     1 2
Sales     0  
Balance at end of period, liabilities     6 5
Stream Credit Facility Agreement        
Summary of changes in Level 3 financial assets        
Sales   $ (281)    
Batu Hijau Contingent Consideration        
Summary of changes in Level 3 financial assets        
Sales $ (96)      
Other income, net        
Summary of changes in Level 3 financial assets        
Revaluation gain (loss)     $ 2 $ 1
Summary of changes in Level 3 financial liabilities        
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]     Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Other comprehensive income        
Summary of changes in Level 3 financial assets        
Revaluation gain (loss)     $ (53)  
Summary of changes in Level 3 financial liabilities        
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]     Other Nonoperating Income (Expense)  
Net income (loss) from discontinued operations        
Summary of changes in Level 3 financial assets        
Revaluation gain (loss)     $ 11 $ 22
Summary of changes in Level 3 financial liabilities        
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]     Net income (loss) from discontinued operations (Note 1) Net income (loss) from discontinued operations (Note 1)
Contingent Consideration Liability        
Summary of changes in Level 3 financial liabilities        
Balance at beginning of period, liabilities     $ 5 $ 3
Acquisitions       0
Settlements     0  
Revaluation gain (loss)     1 2
Sales     0  
Balance at end of period, liabilities     6 5
Contingent Consideration Assets        
Summary of changes in Level 3 financial assets        
Balance at beginning of period, assets     635 188
Acquisitions       424
Settlements     (76)  
Revaluation gain (loss)     (40) 23
Sales     (377)  
Balance at end of period, assets     $ 142 $ 635
v3.25.0.1
DERIVATIVE INSTRUMENTS - Schedule of Derivatives (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Derivative contracts    
Current derivative assets $ 0 $ 198
Non-current derivative assets 142 444
Designated Hedge | Operating cash flow hedges    
Derivative contracts    
Current derivative liabilities 138 3
Non-current derivative liabilities 5 5
Non-Contingent Consideration Derivative | Not Designated as Hedging Instrument    
Derivative contracts    
Current derivative assets 0 115
Non-current derivative assets 0 309
Non-Contingent Consideration Derivative | Designated Hedge    
Derivative contracts    
Current derivative assets 0 7
Non-current derivative assets 95 0
Non-Contingent Consideration Derivative | Designated Hedge | Operating cash flow hedges    
Derivative contracts    
Current derivative liabilities 136 0
Contingent Consideration Derivative | Not Designated as Hedging Instrument    
Derivative contracts    
Current derivative assets 0 76
Non-current derivative assets 47 135
Contingent Consideration Derivative | Designated Hedge | Operating cash flow hedges    
Derivative contracts    
Current derivative liabilities $ 2 $ 3
v3.25.0.1
DERIVATIVE INSTRUMENTS - Additional Information (Details)
$ in Millions, $ in Millions, $ in Millions
 3 Months Ended 12 Months Ended
Jan. 01, 2024
Sep. 30, 2024
USD ($)
Jun. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Feb. 19, 2025
AUD ($)
Feb. 19, 2025
CAD ($)
Dec. 31, 2024
AUD ($)
Dec. 31, 2024
CAD ($)
Nov. 06, 2023
May 31, 2023
AUD ($)
May 31, 2023
CAD ($)
Oct. 31, 2022
AUD ($)
Derivative contracts                            
Derivative notional amount                       $ 648 $ 348 $ 574
Gain (loss) on derivatives       $ (22) $ (24) $ (6)                
Cash flow hedge gain (loss) in AOCI       7                    
Income tax benefit (expense)       31 (5) (4)                
Discontinued Operations, Disposed of by Sale | Batu Hijau and Elang                            
Derivative contracts                            
Proceeds from sale of contingent consideration assets   $ 153                        
Income tax benefit (expense)   37                        
Gain (loss) on disposal of contingent consideration assets   15                        
Tax effect of gain (loss) on disposal   3                        
Stream Credit Facility Agreement | Not Designated as Hedging Instrument                            
Derivative contracts                            
Derivative asset         276                  
Derivative notional amount     $ 330                      
Proceeds from settlement of SCFA   $ 150 180                      
Gain (loss) on derivatives     $ 49                      
Stream Credit Facility Agreement | Not Designated as Hedging Instrument | Other current assets                            
Derivative contracts                            
Derivative asset         113                  
Stream Credit Facility Agreement | Not Designated as Hedging Instrument | Other non-current assets                            
Derivative contracts                            
Derivative asset         163                  
AUD-Denominated Capital Expenditure Program | Designated Hedge | Operating cash flow hedges                            
Derivative contracts                            
Derivative notional amount                 $ 1,126          
AUD-Denominated Capital Expenditure Program | Designated Hedge | Operating cash flow hedges | Subsequent event                            
Derivative contracts                            
Derivative notional amount             $ 80              
AUD-Denominated Operating Expenditure Program | Designated Hedge | Operating cash flow hedges                            
Derivative contracts                            
Derivative notional amount                 $ 2,232          
AUD-Denominated Operating Expenditure Program | Designated Hedge | Operating cash flow hedges | Subsequent event                            
Derivative contracts                            
Derivative notional amount             $ 354              
CAD-Denominated Operating Expenditure Program | Designated Hedge | Operating cash flow hedges                            
Derivative contracts                            
Derivative notional amount                   $ 602        
CAD-Denominated Operating Expenditure Program | Designated Hedge | Operating cash flow hedges | Subsequent event                            
Derivative contracts                            
Derivative notional amount               $ 82            
Cadia PPA cash flow hedge                            
Derivative contracts                            
Gain (loss) on derivatives       $ (5) $ 0 $ 0                
Cadia PPA cash flow hedge | Not Designated as Hedging Instrument                            
Derivative contracts                            
Derivative, term (in years) 15 years                          
Derivative, forecasted purchases, percent 0.40                          
Lundin Gold, Inc.                            
Derivative contracts                            
Ownership interest (as a percent)       32.00%         32.00% 32.00% 32.00%      
v3.25.0.1
DERIVATIVE INSTRUMENTS - Fair Values of Instruments Designated as Hedges (Details) - Operating cash flow hedges - Designated Hedge - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Derivative contracts    
Derivative assets $ 95 $ 7
Derivative liabilities 136 0
Cadia PPA cash flow hedge    
Derivative contracts    
Derivative assets 95 0
Derivative liabilities 1 0
Foreign currency cash flow hedges    
Derivative contracts    
Derivative assets 0 7
Derivative liabilities $ 135 $ 0
v3.25.0.1
DERIVATIVE INSTRUMENTS - Gain (Loss) on Derivatives (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivative contracts      
Loss (gain) on derivatives $ 22 $ 24 $ 6
Interest rate contracts      
Derivative contracts      
Loss (gain) on derivatives $ 10 5 6
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense)    
Other comprehensive income (loss), gain (loss) reclassified, before tax $ 6    
Foreign currency cash flow hedges      
Derivative contracts      
Loss (gain) on derivatives $ 7 19 0
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Costs applicable to sales    
Gain (loss) to be reclassified within 12 months $ 95    
Cadia PPA cash flow hedge      
Derivative contracts      
Loss (gain) on derivatives 5 $ 0 $ 0
Gain (loss) to be reclassified within 12 months $ 10    
v3.25.0.1
DERIVATIVE INSTRUMENTS - Contingent Consideration (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Derivative contracts    
Contingent consideration, assets $ 47 $ 211
Continent consideration, liability 7 8
Other current liabilities    
Derivative contracts    
Continent consideration, liability 2 3
Other non-current liabilities    
Derivative contracts    
Continent consideration, liability 5 5
Red Lake    
Derivative contracts    
Contingent consideration, assets 36 39
Batu Hijau and Elang    
Derivative contracts    
Contingent consideration, assets 0 161
Batu Hijau and Elang | Other current assets    
Derivative contracts    
Contingent consideration, assets   76
Batu Hijau and Elang | Other non-current assets    
Derivative contracts    
Contingent consideration, assets   85
Other Counterparty    
Derivative contracts    
Contingent consideration, assets $ 11 $ 11
v3.25.0.1
INVESTMENTS (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Nov. 06, 2023
Investments      
Total equity method investments $ 4,471 $ 4,143  
Marketable debt securities      
Investments      
Non-current restricted investments $ 15 21  
Pueblo Viejo Mine      
Investments      
Ownership interest (as a percent) 40.00%    
Nueva Union Project      
Investments      
Ownership interest (as a percent) 50.00%    
Lundin Gold, Inc.      
Investments      
Ownership interest (as a percent) 32.00%   32.00%
Norte Abierto Project      
Investments      
Ownership interest (as a percent) 50.00%    
Greatland      
Investments      
Ownership interest (as a percent) 20.40%    
Investments - current      
Investments      
Marketable equity securities, current $ 21 23  
Investments - noncurrent      
Investments      
Marketable and other equity securities, noncurrent 309 229  
Equity method investments 4,162 3,914  
Total equity method investments 4,471 4,143  
Equity securities without readily determinable fair value, amount 25 25  
Investments - noncurrent | Pueblo Viejo Mine      
Investments      
Equity method investments 1,516 1,489  
Investments - noncurrent | Nueva Union Project      
Investments      
Equity method investments 961 959  
Investments - noncurrent | Lundin Gold, Inc.      
Investments      
Equity method investments 941 938  
Investments - noncurrent | Norte Abierto Project      
Investments      
Equity method investments 532 528  
Investments - noncurrent | Greatland      
Investments      
Equity method investments $ 212 $ 0  
v3.25.0.1
INVESTMENTS - Additional Information (Details) - USD ($)
$ in Millions, shares in Billions
 1 Months Ended 12 Months Ended
Dec. 31, 2023
Nov. 30, 2020
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Oct. 31, 2024
Nov. 06, 2023
Sep. 30, 2019
Investments                
Equity income (loss) of affiliates     $ 133 $ 63 $ 107      
Percentage of gold purchased from investment             50.00%  
Pueblo Viejo Mine | Related Party                
Investments                
Other liabilities $ 0   0 0        
Other receivables 0   0 0        
Lundin Gold, Inc. | Related Party                
Investments                
Other liabilities 13   0 13        
Pueblo Viejo Revolving Facility                
Investments                
Line of credit facility maximum borrowing capacity               $ 70
Credit facility, amount outstanding 0   0 0        
Pueblo Viejo Mine                
Investments                
Equity income (loss) of affiliates     $ 91 63 $ 102      
Ownership interest (as a percent)     40.00%          
Amount by which investment carrying value is lower than underlying net assets     $ 295          
Agreed funding to equity method investment, including other owner's amount   $ 1,300       $ 800    
Agreed funding to equity method investment   $ 520       $ 320    
Base rate, as a percentage of SOFR (as a percent)   95.00%            
Margin added to base rate (as a percent)   4.25%       3.81%    
Share of loans included in investment 429   486 429        
Interest receivable 14   19 14        
Purchases     580 448        
Pueblo Viejo Mine | Investment Tranche One                
Investments                
Agreed funding to equity method investment, including other owner's amount   $ 800            
Pueblo Viejo Mine | Investment Tranche Two                
Investments                
Agreed funding to equity method investment, including other owner's amount   $ 500            
Lundin Gold, Inc.                
Investments                
Equity income (loss) of affiliates     $ 45          
Ownership interest (as a percent)     32.00%       32.00%  
Amount by which investment carrying value is lower than underlying net assets     $ 588          
Purchases     189 30        
Equity method investments     $ 1,638          
Nueva Union Project                
Investments                
Ownership interest (as a percent)     50.00%          
Amount by which investment carrying value is lower than underlying net assets     $ 67          
Nueva Union Project | Teck Resources                
Investments                
Ownership interest (as a percent)     50.00%          
Norte Abierto Project                
Investments                
Ownership interest (as a percent)     50.00%          
Amount by which investment carrying value is lower than underlying net assets     $ 209          
Cash settlement 60              
Study costs funded by company, threshold amount 60              
Prefeasibility study costs 30     30        
Norte Abierto Project | Other current liabilities                
Investments                
Prefeasibility study costs 20   20 20        
Norte Abierto Project | Other non-current liabilities                
Investments                
Prefeasibility study costs 10   $ 3 10        
Norte Abierto Project | Barrick Gold Corporation                
Investments                
Ownership interest (as a percent)     50.00%          
Norte Abierto Project | Barrick Gold Corporation | Other current liabilities                
Investments                
Deferred payments to joint venture partner 23     23        
Norte Abierto Project | Barrick Gold Corporation | Other non-current liabilities                
Investments                
Deferred payments to joint venture partner $ 73     $ 73        
Greatland                
Investments                
Ownership interest (as a percent)     20.40%          
Shares acquired, cost (in shares)     2.7          
Option to purchase equity, shares     1.3          
Option to purchase equity, term (in years)     4 years          
Greatland | Other non-current liabilities                
Investments                
Option to purchase equity, fair value     $ 51          
Greatland Gold, Equity Method Investment                
Investments                
Equity income (loss) of affiliates     (29)          
Greatland Gold, Equity Option                
Investments                
Equity income (loss) of affiliates     $ 16          
v3.25.0.1
INVENTORIES - Summary of Inventories (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Inventory, net    
Materials and supplies $ 1,081 $ 1,247
In-process 118 160
Concentrate 148 134
Precious metals 76 122
Inventories 1,423 $ 1,663
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program    
Inventory, net    
Disposal group, including discontinued operation, inventory, other than stockpiles and ore on leach pads $ 185  
v3.25.0.1
INVENTORIES - Components of Costs Applicable to Sales (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
INVENTORIES      
Inventory write-down $ 49 $ 52 $ 8
Telfer      
INVENTORIES      
Inventory write-down 34 2  
Cerro Negro      
INVENTORIES      
Inventory write-down 10 3  
Brucejack      
INVENTORIES      
Inventory write-down 3 3  
Peñasquito      
INVENTORIES      
Inventory write-down 1 35  
NGM      
INVENTORIES      
Inventory write-down 1    
Éléonore      
INVENTORIES      
Inventory write-down   5  
Porcupine      
INVENTORIES      
Inventory write-down   4  
Costs applicable to sales      
INVENTORIES      
Inventory write-down 44 37 6
Depreciation and amortization      
INVENTORIES      
Inventory write-down $ 5 $ 15 $ 2
v3.25.0.1
STOCKPILES AND ORE ON LEACH PADS - Summary (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Mar. 31, 2024
Dec. 31, 2023
Stockpiles And Ore On Leach Pads      
Current $ 761   $ 979
Non-current 2,266   1,935
Total 3,027   2,914
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program      
Stockpiles And Ore On Leach Pads      
Disposal group, including discontinued operation, stockpiles and ore on leach pads   $ 374  
Stockpiles      
Stockpiles And Ore On Leach Pads      
Current 624   746
Non-current 2,072   1,532
Total 2,696   2,278
Ore on Leach Pads      
Stockpiles And Ore On Leach Pads      
Current 137   233
Non-current 194   403
Total $ 331   $ 636
v3.25.0.1
STOCKPILES AND ORE ON LEACH PADS - Write-downs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads $ 49 $ 52 $ 8
NGM      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads 1    
Cerro Negro      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads 10 3  
Peñasquito      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads 1 35  
Éléonore      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads   5  
Telfer      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads 34 2  
Costs applicable to sales      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads 44 37 6
Depreciation and amortization      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads 5 15 2
Stockpiles and ore on leach pads      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads 64 75 209
Stockpiles and ore on leach pads | Red Chris      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads 37    
Stockpiles and ore on leach pads | NGM      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads 26 52 71
Stockpiles and ore on leach pads | Cerro Negro      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads 1    
Stockpiles and ore on leach pads | Peñasquito      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads   11  
Stockpiles and ore on leach pads | Yanacocha      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads   6 49
Stockpiles and ore on leach pads | Akyem      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads   2 28
Stockpiles and ore on leach pads | Éléonore      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads   2  
Stockpiles and ore on leach pads | Telfer      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads   2  
Stockpiles and ore on leach pads | CC&V      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads     45
Stockpiles and ore on leach pads | Ahafo      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads     12
Stockpiles and ore on leach pads | Merian Mine      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads     4
Stockpiles and ore on leach pads | Costs applicable to sales      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads 48 60 156
Stockpiles and ore on leach pads | Depreciation and amortization      
Stockpiles And Ore On Leach Pads      
Write-downs of inventory and stockpiles and ore on leach pads $ 16 $ 15 $ 53
v3.25.0.1
PROPERTY, PLANT AND MINE DEVELOPMENT (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment    
Cost, including finance lease right of use assets $ 52,410 $ 57,623
Accumulated depreciation, including finance lease right of use assets (18,863) (20,060)
Net Book Value, including finance lease right of use assets 33,547 37,563
Finance lease right of use assets 482 531
Discontinued Operations, Held-for-Sale | Portfolio Optimization Program    
Property, Plant and Equipment    
Property, plant and mine development, net 4,439  
Land     
Property, Plant and Equipment    
Cost 253 347
Net Book Value 253 347
Facilities and equipment    
Property, Plant and Equipment    
Cost, including finance lease right of use assets 23,362 25,804
Accumulated depreciation, including finance lease right of use assets (11,761) (12,925)
Net Book Value, including finance lease right of use assets $ 11,601 12,879
Facilities and equipment | Minimum    
Property, Plant and Equipment    
Depreciable Life (in years) 1 year  
Facilities and equipment | Maximum    
Property, Plant and Equipment    
Depreciable Life (in years) 26 years  
Mine development     
Property, Plant and Equipment    
Cost $ 6,562 7,223
Accumulated depreciation (3,533) (3,775)
Net Book Value $ 3,029 3,448
Mine development  | Minimum    
Property, Plant and Equipment    
Depreciable Life (in years) 1 year  
Mine development  | Maximum    
Property, Plant and Equipment    
Depreciable Life (in years) 26 years  
Mineral interests     
Property, Plant and Equipment    
Cost $ 17,050 19,450
Accumulated depreciation (3,569) (3,360)
Net Book Value 13,481 16,090
Mineral interests, Cost 17,050 19,450
Mineral interests Accumulated Depreciation (3,569) (3,360)
Mineral interests Net Book Value 13,481 16,090
Mineral interests  | Discontinued Operations, Held-for-Sale | Portfolio Optimization Program    
Property, Plant and Equipment    
Property, plant and mine development, net $ 1,885  
Mineral interests  | Minimum    
Property, Plant and Equipment    
Depreciable Life (in years) 1 year  
Mineral interests  | Maximum    
Property, Plant and Equipment    
Depreciable Life (in years) 26 years  
Construction-in-progress     
Property, Plant and Equipment    
Cost $ 5,183 4,799
Net Book Value 5,183 4,799
Production stage     
Property, Plant and Equipment    
Mineral interests, Cost 12,191 13,155
Mineral interests Accumulated Depreciation (3,569) (3,360)
Mineral interests Net Book Value $ 8,622 9,795
Production stage  | Minimum    
Property, Plant and Equipment    
Depreciable Life (in years) 1 year  
Production stage  | Maximum    
Property, Plant and Equipment    
Depreciable Life (in years) 26 years  
Development stage     
Property, Plant and Equipment    
Mineral interests, Cost $ 1,386 1,277
Mineral interests Net Book Value 1,386 1,277
Exploration stage     
Property, Plant and Equipment    
Mineral interests, Cost 3,473 5,018
Mineral interests Net Book Value $ 3,473 $ 5,018
v3.25.0.1
GOODWILL (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Goodwill [Roll Forward]      
Goodwill, beginning balance $ 3,001 $ 1,971  
Impairment   (1,760) $ (800)
Acquisitions (343) 2,744  
Goodwill, ending balance 2,658 3,001 1,971
Accumulated impairment of goodwill 2,560    
Adjustments      
Goodwill [Roll Forward]      
Goodwill, beginning balance 46    
Goodwill, ending balance   46  
Musselwhite      
Goodwill [Roll Forward]      
Goodwill, beginning balance 0 293  
Impairment   (293)  
Acquisitions 0 0  
Goodwill, ending balance 0 0 293
Éléonore      
Goodwill [Roll Forward]      
Goodwill, beginning balance 0 246  
Impairment   (246)  
Acquisitions 0 0  
Goodwill, ending balance 0 0 246
Brucejack      
Goodwill [Roll Forward]      
Goodwill, beginning balance 1,087 0  
Impairment   0  
Acquisitions (418) 1,087  
Goodwill, ending balance 669 1,087 0
Red Chris      
Goodwill [Roll Forward]      
Goodwill, beginning balance 397 0  
Impairment   0  
Acquisitions 142 397  
Goodwill, ending balance 539 397 0
Peñasquito      
Goodwill [Roll Forward]      
Goodwill, beginning balance 0 1,164  
Impairment   (1,210)  
Acquisitions 0 0  
Goodwill, ending balance 0 0 1,164
Cadia      
Goodwill [Roll Forward]      
Goodwill, beginning balance 565 0  
Impairment   0  
Acquisitions (316) 565  
Goodwill, ending balance 249 565 0
Lihir      
Goodwill [Roll Forward]      
Goodwill, beginning balance 695 0  
Impairment   0  
Acquisitions 249 695  
Goodwill, ending balance 944 695 0
NGM      
Goodwill [Roll Forward]      
Goodwill, beginning balance 257 268  
Impairment   (11)  
Acquisitions 0 0  
Goodwill, ending balance $ 257 $ 257 $ 268
v3.25.0.1
DEBT - Long-term Debt (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Mar. 07, 2024
Dec. 31, 2023
Dec. 26, 2023
Nov. 06, 2023
Debt          
Current $ 924   $ 1,923    
Non-Current 7,552   6,951    
Fair Value 8,400   8,975    
Debt issuance costs on Corporate Revolving Credit Facilities (5)   (4)    
Bilateral Bank Debt Facilities          
Debt          
Line of credit facility maximum borrowing capacity 2,000       $ 2,000
Current 0   1,923    
Non-Current 0   0    
Fair Value 0   1,927    
2026 Senior Notes | Senior Notes          
Debt          
Debt instrument principal amount $ 1,000 $ 1,000      
Debt instrument, interest rate (as a percent) 5.30% 5.30%      
Current $ 924   0    
Non-Current 0   0    
Fair Value 948   0    
October 2029 Senior Notes          
Debt          
Debt instrument principal amount $ 700        
Debt instrument, interest rate (as a percent) 2.80%        
October 2029 Senior Notes | Senior Notes          
Debt          
Debt instrument principal amount $ 700        
Debt instrument, interest rate (as a percent) 2.80%        
Current $ 0   0    
Non-Current 633   693    
Fair Value 587   645    
May 2030 Senior Notes          
Debt          
Debt instrument, interest rate (as a percent)       3.25%  
May 2030 Senior Notes | Senior Notes          
Debt          
Debt instrument principal amount $ 650        
Debt instrument, interest rate (as a percent) 3.25%        
Current $ 0   0    
Non-Current 554   557    
Fair Value 583   597    
October 2030 Senior Notes | Senior Notes          
Debt          
Debt instrument principal amount $ 1,000        
Debt instrument, interest rate (as a percent) 2.25%        
Current $ 0   0    
Non-Current 872   989    
Fair Value 765   872    
July 2032 Senior Notes | Senior Notes          
Debt          
Debt instrument principal amount $ 1,000        
Debt instrument, interest rate (as a percent) 2.60%        
Current $ 0   0    
Non-Current 821   992    
Fair Value 713   868    
March 2034 Senior Notes | Senior Notes          
Debt          
Debt instrument principal amount $ 1,000 $ 1,000      
Debt instrument, interest rate (as a percent) 5.35% 5.35%      
Current $ 0   0    
Non-Current 987   0    
Fair Value 1,012   0    
April 2035 Senior Notes | Senior Notes          
Debt          
Debt instrument principal amount $ 600        
Debt instrument, interest rate (as a percent) 5.875%        
Current $ 0   0    
Non-Current 581   580    
Fair Value 625   654    
October 2039 Senior Notes | Senior Notes          
Debt          
Debt instrument principal amount $ 1,100        
Debt instrument, interest rate (as a percent) 5.875%        
Current $ 0   0    
Non-Current 861   861    
Fair Value 934   986    
November 2041 Senior Notes          
Debt          
Debt instrument, interest rate (as a percent)       5.75%  
November 2041 Senior Notes | Senior Notes          
Debt          
Debt instrument principal amount $ 500        
Debt instrument, interest rate (as a percent) 5.75%        
Current $ 0   0    
Non-Current 457   456    
Fair Value 500   535    
March 2042 Senior Notes          
Debt          
Debt instrument principal amount $ 1,000        
Debt instrument, interest rate (as a percent) 4.875%        
March 2042 Senior Notes | Senior Notes          
Debt          
Debt instrument principal amount $ 1,000        
Debt instrument, interest rate (as a percent) 4.875%        
Current $ 0   0    
Non-Current 949   986    
Fair Value 891   991    
June 2044 Senior Notes | Senior Notes          
Debt          
Debt instrument principal amount $ 450        
Debt instrument, interest rate (as a percent) 5.45%        
Current $ 0   0    
Non-Current 479   480    
Fair Value 435   462    
May 2050 Senior Notes          
Debt          
Debt instrument, interest rate (as a percent)       4.20%  
May 2050 Senior Notes | Senior Notes          
Debt          
Debt instrument principal amount $ 500        
Debt instrument, interest rate (as a percent) 4.20%        
Current $ 0   0    
Non-Current 363   361    
Fair Value $ 407   $ 438    
v3.25.0.1
DEBT - Maturities of long term debt (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Scheduled minimum debt repayments  
2025 $ 928
2026 0
2027 0
2028 0
2029 638
Thereafter 7,225
Total face value of debt 8,791
Unamortized premiums, discounts, and issuance costs (315)
Net carrying amount $ 8,476
v3.25.0.1
DEBT - Corporate Revolving Credit Facilities and Letters of Credit Facilities (Details)
$ in Millions
Feb. 20, 2024
USD ($)
Feb. 07, 2024
USD ($)
Dec. 31, 2024
USD ($)
Feb. 15, 2024
USD ($)
Dec. 31, 2023
USD ($)
Nov. 06, 2023
USD ($)
bank
Apr. 04, 2019
USD ($)
Debt Instrument [Line Items]              
Current     $ 924   $ 1,923    
Letters of credit outstanding     1,034   1,158    
Letters of credit, guarantees for reclamation obligations     900   1,015    
Bilateral Bank Debt Facilities              
Debt Instrument [Line Items]              
Line of credit facility, number of banks holding debt | bank           13  
Line of credit facility maximum borrowing capacity     2,000     $ 2,000  
Current     0   1,923    
Repayments of lines of credit   $ 462          
Repayment of debt $ 1,461            
Bilateral Bank Facility Due February 2024              
Debt Instrument [Line Items]              
Current         462    
Bilateral Bank Facility Due March 2024              
Debt Instrument [Line Items]              
Current         769    
Bilateral Bank Facility Due March 2026              
Debt Instrument [Line Items]              
Current         692    
Corporate Revolving Credit Facility              
Debt Instrument [Line Items]              
Line of credit facility maximum borrowing capacity $ 4,000     $ 4,000     $ 3,000
Credit facility, amount outstanding     0        
Corporate Revolving Credit Facility | Letter of Credit              
Debt Instrument [Line Items]              
Letters of credit outstanding     $ 0   $ 0    
v3.25.0.1
DEBT - Debt Extinguishment (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Debt Instrument [Line Items]      
Gain on debt extinguishment $ 32 $ 0 $ 0
Senior Notes      
Debt Instrument [Line Items]      
Gain on debt extinguishment 38    
Write-off of unamortized premiums, discounts, and issuance costs $ 8    
v3.25.0.1
DEBT - Schedule of Debt, Partial Redemptions (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Mar. 07, 2024
Dec. 26, 2023
Interest Rate Contract      
Debt Instrument [Line Items]      
Other comprehensive income (loss), gain (loss) reclassified, before tax $ 6    
October 2029 Senior Notes      
Debt Instrument [Line Items]      
Debt instrument principal amount $ 700    
Debt instrument, interest rate (as a percent) 2.80%    
May 2030 Senior Notes      
Debt Instrument [Line Items]      
Debt instrument, interest rate (as a percent)     3.25%
March 2042 Senior Notes      
Debt Instrument [Line Items]      
Debt instrument principal amount $ 1,000    
Debt instrument, interest rate (as a percent) 4.875%    
Senior Notes      
Debt Instrument [Line Items]      
Settled Notional Amount $ 483    
Total Repurchase Amount 441    
Debt instrument, extinguished amount, interest 4    
Senior Notes | 2026 Senior Notes      
Debt Instrument [Line Items]      
Debt instrument principal amount $ 1,000 $ 1,000  
Debt instrument, interest rate (as a percent) 5.30% 5.30%  
Settled Notional Amount $ 72    
Total Repurchase Amount 74    
Senior Notes | October 2029 Senior Notes      
Debt Instrument [Line Items]      
Debt instrument principal amount $ 700    
Debt instrument, interest rate (as a percent) 2.80%    
Settled Notional Amount $ 62    
Total Repurchase Amount 58    
Senior Notes | May 2030 Senior Notes      
Debt Instrument [Line Items]      
Debt instrument principal amount $ 650    
Debt instrument, interest rate (as a percent) 3.25%    
Settled Notional Amount $ 17    
Total Repurchase Amount 16    
Senior Notes | October 2030 Senior Notes      
Debt Instrument [Line Items]      
Debt instrument principal amount $ 1,000    
Debt instrument, interest rate (as a percent) 2.25%    
Settled Notional Amount $ 120    
Total Repurchase Amount 107    
Senior Notes | July 2032 Senior Notes      
Debt Instrument [Line Items]      
Debt instrument principal amount $ 1,000    
Debt instrument, interest rate (as a percent) 2.60%    
Settled Notional Amount $ 174    
Total Repurchase Amount 150    
Senior Notes | March 2042 Senior Notes      
Debt Instrument [Line Items]      
Debt instrument principal amount $ 1,000    
Debt instrument, interest rate (as a percent) 4.875%    
Settled Notional Amount $ 38    
Total Repurchase Amount $ 36    
v3.25.0.1
DEBT - Senior Notes (Details) - USD ($)
 1 Months Ended
Mar. 07, 2024
Feb. 28, 2025
Dec. 31, 2024
Dec. 26, 2023
Nov. 06, 2023
March 2024 Senior Notes | Senior Notes          
Debt Instrument [Line Items]          
Debt instrument principal amount $ 2,000,000,000        
Proceeds from issuance of senior notes 1,980,000,000        
2026 Senior Notes | Senior Notes          
Debt Instrument [Line Items]          
Debt instrument principal amount $ 1,000,000,000   $ 1,000,000,000    
Debt instrument, interest rate (as a percent) 5.30%   5.30%    
March 2034 Senior Notes | Senior Notes          
Debt Instrument [Line Items]          
Debt instrument principal amount $ 1,000,000,000   $ 1,000,000,000    
Debt instrument, interest rate (as a percent) 5.35%   5.35%    
Senior Notes Net Of Discount 2026 | Subsequent event          
Debt Instrument [Line Items]          
Amount of debt repurchased   $ 957,000,000      
Amount of debt repurchased   928,000,000      
Accrued and unpaid interest   19,000,000      
Make-whole provision   $ 10,000,000      
May 2030, November 2041, And May 2050 Senior Notes          
Debt Instrument [Line Items]          
Debt instrument principal amount       $ 1,650,000,000  
May 2030 Senior Notes          
Debt Instrument [Line Items]          
Debt instrument, interest rate (as a percent)       3.25%  
May 2030 Senior Notes | Senior Notes          
Debt Instrument [Line Items]          
Debt instrument principal amount     $ 650,000,000    
Debt instrument, interest rate (as a percent)     3.25%    
May 2030 Senior Notes, Excluding Newcrest Notes          
Debt Instrument [Line Items]          
Debt instrument principal amount       $ 625,000,000  
May 2030 Newcrest Senior Notes          
Debt Instrument [Line Items]          
Debt instrument principal amount         $ 25,000,000
November 2041 Senior Notes          
Debt Instrument [Line Items]          
Debt instrument, interest rate (as a percent)       5.75%  
November 2041 Senior Notes | Senior Notes          
Debt Instrument [Line Items]          
Debt instrument principal amount     $ 500,000,000    
Debt instrument, interest rate (as a percent)     5.75%    
November 2041 Senior Notes, Excluding Newcrest Notes          
Debt Instrument [Line Items]          
Debt instrument principal amount       $ 460,000,000  
November 2041 Newcrest Senior Notes          
Debt Instrument [Line Items]          
Debt instrument principal amount         40,000,000
May 2050 Senior Notes          
Debt Instrument [Line Items]          
Debt instrument, interest rate (as a percent)       4.20%  
May 2050 Senior Notes | Senior Notes          
Debt Instrument [Line Items]          
Debt instrument principal amount     $ 500,000,000    
Debt instrument, interest rate (as a percent)     4.20%    
May 2050 Senior Notes, Excluding Newcrest Notes          
Debt Instrument [Line Items]          
Debt instrument principal amount       $ 486,000,000  
May 2050 Newcrest Senior Notes          
Debt Instrument [Line Items]          
Debt instrument principal amount         $ 14,000,000
v3.25.0.1
DEBT - Debt Covenants (Details)
Dec. 31, 2024
Corporate Revolving Credit Facility  
Debt Instrument [Line Items]  
Debt to capitalization ratio, maximum allowed under covenant (as a percent) 0.6250
v3.25.0.1
LEASE AND OTHER FINANCING OBLIGATIONS - Additional information (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Lessee, Lease, Description [Line Items]  
Renewal term (in years) 15 years
Termination period (in years) 1 year
Leases not yet commenced $ 3
Financing leases not yet commenced, lease terms (in years) 2 years
Minimum  
Lessee, Lease, Description [Line Items]  
Remaining lease term (in years) 1 year
Maximum  
Lessee, Lease, Description [Line Items]  
Remaining lease term (in years) 33 years
v3.25.0.1
LEASE AND OTHER FINANCING OBLIGATIONS - Components of Lease Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]    
Operating lease cost $ 27 $ 23
Amortization of ROU assets 91 78
Interest on lease liabilities 35 32
Finance lease cost, total 126 110
Variable lease cost 509 298
Short-term lease cost 76 24
Lease cost, Total $ 738 $ 455
v3.25.0.1
LEASE AND OTHER FINANCING OBLIGATIONS - Supplemental Cash Flows (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:      
Operating cash flows relating to operating leases $ 20 $ 23  
Operating cash flows relating to finance leases 34 33  
Financing cash flows relating to finance leases 87 67 $ 66
Non-cash lease obligations arising from obtaining ROU assets      
Operating leases 10 23  
Finance leases $ 59 53  
Newcrest Mining Limited      
Non-cash lease obligations arising from obtaining ROU assets      
Operating leases   13  
Finance leases   $ 51  
v3.25.0.1
LEASE AND OTHER FINANCING OBLIGATIONS - Schedule of lease terms and discount rates (Details)
Dec. 31, 2024
Weighted average remaining lease term (years)  
Operating leases, weighted average remaining lease term (in years) 8 years
Finance leases, weighted average remaining lease term (in years) 8 years
Weighted average discount rate  
Operating leases, weighted average discount rate (as a percent) 4.35%
Finance leases, weighted average discount rate (as a percent) 6.36%
v3.25.0.1
LEASE AND OTHER FINANCING OBLIGATIONS - Maturities (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Operating Leases  
2025 $ 20
2026 14
2027 13
2028 11
2029 10
Thereafter 31
Total future minimum lease payments 99
Less: Imputed interest (12)
Operating lease liability 87
Finance Leases  
2025 116
2026 96
2027 77
2028 71
2029 46
Thereafter 252
Total future minimum lease payments 658
Less: Imputed interest (162)
Finance lease liability $ 496
v3.25.0.1
OTHER LIABILITIES (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Other current liabilities:      
Reclamation and remediation liabilities   $ 991 $ 619
Accrued operating costs   468 473
Accrued capital expenditures   208 320
Accrued royalties   165 137
Hedging instruments   136 0
Silver streaming agreement   76 87
Other   293 319
Other current liabilities   2,481 2,362
Other non-current liabilities:      
Income and mining taxes   125 177
Greatland Option   51 0
Other   112 139
Other long-term liabilities, total   288 316
Payment of stamp duty tax $ 291    
NGM      
Other current liabilities:      
Payables to NGM   $ 115 $ 91
NGM      
Other non-current liabilities:      
Ownership interest (as a percent)   38.50%  
NGM | Barrick Gold Corporation      
Other non-current liabilities:      
Ownership interest (as a percent)   61.50% 61.50%
Norte Abierto Project      
Other non-current liabilities:      
Ownership interest (as a percent)   50.00%  
Norte Abierto Project | Barrick Gold Corporation      
Other non-current liabilities:      
Ownership interest (as a percent)   50.00%  
Newcrest Mining Limited      
Other current liabilities:      
Stamp duty on Newcrest transaction   $ 29 $ 316
v3.25.0.1
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)​​ - Components of AOCI (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance at beginning of period $ 29,205 $ 19,533 $ 21,813
Gain (loss) in other comprehensive income (loss) before reclassifications (127) (33)  
(Gain) loss reclassified from accumulated other comprehensive income (loss) 18 18  
Other comprehensive income (loss) (109) (15) 162
Balance at end of period 30,109 29,205 19,533
Total      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance at beginning of period 14 29  
Balance at end of period (95) 14 29
Unrealized Gain (Loss) on Hedge Instruments      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance at beginning of period (70) (69)  
Gain (loss) in other comprehensive income (loss) before reclassifications (140) (19)  
(Gain) loss reclassified from accumulated other comprehensive income (loss) 17 18  
Other comprehensive income (loss) (123) (1)  
Balance at end of period (193) (70) (69)
Pension and Other Post-retirement Benefit Adjustments      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance at beginning of period (36) (27)  
Gain (loss) in other comprehensive income (loss) before reclassifications 8 (9)  
(Gain) loss reclassified from accumulated other comprehensive income (loss) 0 0  
Other comprehensive income (loss) 8 (9)  
Balance at end of period (28) (36) (27)
Other Adjustments      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Balance at beginning of period 120 125  
Gain (loss) in other comprehensive income (loss) before reclassifications 5 (5)  
(Gain) loss reclassified from accumulated other comprehensive income (loss) 1 0  
Other comprehensive income (loss) 6 (5)  
Balance at end of period $ 126 $ 120 $ 125
v3.25.0.1
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)​ - Reclassifications (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Interest expense, net of capitalized interest $ 375 $ 243 $ 227
Costs applicable to sales [1] 8,963 6,699 6,468
Other income (loss), net (425) 88 27
Total before tax (4,577) 2,031 51
Tax (1,397) (526) (455)
Net of tax (3,381) 2,467 369
Reclassification Out of Accumulated Other Comprehensive Income      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Net of tax 18 18 112
Reclassification Out of Accumulated Other Comprehensive Income | Hedge instruments adjustments:      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Total before tax 22 24 6
Tax (5) (6) (1)
Net of tax 17 18 5
Reclassification Out of Accumulated Other Comprehensive Income | Hedge instruments adjustments: | Interest rate contracts      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Interest expense, net of capitalized interest 10 5 6
Reclassification Out of Accumulated Other Comprehensive Income | Hedge instruments adjustments: | Foreign currency cash flow hedges      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Costs applicable to sales 7 19 0
Reclassification Out of Accumulated Other Comprehensive Income | Hedge instruments adjustments: | Amortization      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Costs applicable to sales 5 0 0
Reclassification Out of Accumulated Other Comprehensive Income | Pension and other post-retirement benefit adjustments:      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Total before tax 0 0 136
Tax 0 0 (29)
Net of tax 0 0 107
Reclassification Out of Accumulated Other Comprehensive Income | Settlement      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Other income (loss), net 1 9 137
Reclassification Out of Accumulated Other Comprehensive Income | Amortization      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Other income (loss), net (1) (9) (1)
Reclassification Out of Accumulated Other Comprehensive Income | Other adjustments:      
Amount Reclassified from Accumulated Other Comprehensive Income (Loss)      
Other income (loss), net 1 0 0
Total before tax 1 0 0
Tax 0 0 0
Net of tax $ 1 $ 0 $ 0
[1] Excludes Depreciation and amortization and Reclamation and remediation.
v3.25.0.1
NET CHANGE IN OPERATING ASSETS AND LIABILITIES (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Decrease (increase) in operating assets:        
Trade and other receivables    $ (441) $ (240) $ 5
Inventories, stockpiles and ore on leach pads    (534) (187) (161)
Other assets    64 50 (84)
Increase (decrease) in operating liabilities:        
Accounts payable   (2) (42) 102
Reclamation and remediation liabilities    (433) (275) (247)
Accrued tax liabilities   235 (197) (343)
Other accrued liabilities   86 378 (113)
Net change in operating assets and liabilities   $ (1,025) $ (513) $ (841)
Payment of stamp duty tax $ 291      
v3.25.0.1
COMMITMENTS AND CONTINGENCIES - Environmental Matters (Details)
$ in Millions
 12 Months Ended
Nov. 24, 2023
claim
Oct. 13, 2023
claim
Dec. 31, 2024
USD ($)
plant
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
Loss contingencies            
Number of operating water treatment plants | plant     5      
Number of water treatment plants to be constructed | plant     2      
Environmental remediation obligations     $ 370 $ 401 $ 373  
Porcupine            
Loss contingencies            
Reclamation adjustment       $ 46    
CC&V            
Loss contingencies            
Environmental remediation obligations         $ 20  
Midnite mine and Dawn mill sites            
Loss contingencies            
Environmental remediation obligations     $ 168      
Percent of remediation obligation assumed     100.00%      
Cadia            
Loss contingencies            
Number of alleged regulatory violations | claim 2 2        
Minera Yanacocha            
Loss contingencies            
Percent ownership held by Newmont (as a percent)     100.00% 100.00% 100.00% 51.35%
CC&V            
Loss contingencies            
Percent ownership held by Newmont (as a percent)     100.00%      
Dawn Mining Company            
Loss contingencies            
Percent ownership held by Newmont (as a percent)     58.19%      
Goldcorp            
Loss contingencies            
Percent ownership held by Newmont (as a percent)     100.00%      
Cadia            
Loss contingencies            
Percent ownership held by Newmont (as a percent)     100.00%      
v3.25.0.1
COMMITMENTS AND CONTINGENCIES - Other Legal Matters (Details)
$ in Millions
 1 Months Ended 3 Months Ended
Aug. 16, 2021
USD ($)
Dec. 24, 2018
co-defendant
plaintiff
Aug. 31, 2020
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2024
Australian Taxation Office ("ATO")          
Loss contingencies          
Potential interest disputed       $ 85  
Income tax examination payment       $ 24  
Ghana Parliament Cases          
Loss contingencies          
Loss contingency number of plaintiffs | plaintiff   2      
Number of codefendants | co-defendant   33      
Pending Litigation | Kirkland Royalty Matter          
Loss contingencies          
Damages sought $ 350        
Holt option | Use rights          
Loss contingencies          
Purchase of option for mining and mineral rights     $ 75    
Newmont Ghana Gold Limited and Newmont Golden Ridge Limited          
Loss contingencies          
Economic interest (as a percent)         100.00%
Newmont Capital Limited And Newmont Canada F N Holdings U L C          
Loss contingencies          
Economic interest (as a percent)         100.00%
Newmont Corporation and Goldcorp Canada Ltd          
Loss contingencies          
Economic interest (as a percent)         100.00%
v3.25.0.1
COMMITMENTS AND CONTINGENCIES - Other Commitments and Contingencies (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Other commitments    
Letters of credit surety bonds and bank guarantees, outstanding $ 2,086 $ 2,123
Deferred payments 7 $ 8
Galore Creek    
Other commitments    
Deferred payments $ 75  
v3.25.0.1
SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS (Details) - Valuation Allowance of Deferred Tax Assets - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS      
Balance at beginning of year $ 4,652 $ 3,994 $ 3,791
Additions due to acquisition of Newcrest 168 300 0
Additions to deferred income tax expense 80 565 370
Reduction of deferred income tax expense (382) (207) (109)
Additions and reductions reflected in other components of the financial statements (155) 0 (58)
Balance at end of year $ 4,363 $ 4,652 $ 3,994