The world’s largest gold miner Newmont Corporation produced 1.5-million attributable ounces of gold and 317 000 attributable gold-equivalent ounces from co-products for the first quarter of this year.
Newmont’s portfolio of assets and prospects and talent is anchored in mining jurisdictions in North America, South America, Australia and Africa.
For the period, the company generated $841-million of cash from continuing operations and $442-million of free cash flow.
Full-year production continues to be back-half weighted, in line with 2021 guidance.
The company declared a first-quarter dividend of $0.55 apiece, consistent with the previous quarter.
It ended the quarter with $5.5-billion of consolidated cash and $8.5-billion of liquidity with a net debt to adjusted earnings before interest, taxes, depreciation and amortisation ratio (Ebitda) of 0.2x.
Newmont reduced $550-million of debt outstanding with available cash in April.
The company executed a $3-billion sustainability-linked revolving credit facility, which it says demonstrates its commitment to industry-leading environmental, social and governance practices.
Newmont recorded first production from the Boddington Autonomous Haulage System, delivering safety and productivity improvements; with this as the industry's first autonomous haulage fleet.
The company also announced the acquisition of GT Gold, located in the prospective Golden Triangle adding profitable copper and gold exposure to Newmont's project portfolio.
The company also continued its focus on fatality prevention through global application of critical controls.
“In the first quarter, we delivered a solid financial performance with $1.5-billion in adjusted Ebitda and $442-million in free cash flow, putting Newmont on track to achieve our full-year guidance with improving production expected in the second half of the year.
“We remain confident in the strength of our business as we invest in our world-class portfolio, strengthening the balance sheet and sustaining our quarterly dividend of $0.55 a share," says CEO and president Tom Palmer.