Newmont

Colonel William Boyce Thompson founded the Newmont Company in 1916 as a holding company for private acquisitions. It was reincorporated as Newmont Corporation in 1921, sold its first shares to the public and added “Mining” to its name in 1925, and has traded on the New York Stock Exchange since 1940.⁠[1]

In 1961, Newmont sent geologist John Livermore, with J. Alan Coope, to examine the Roberts Thrust in Nevada, and they staked sixteen claims at Popovich Hill, north of the town of Carlin. Newmont returned to drill in the spring of 1962, and the first gold bar was poured in the Carlin mill in May 1965.⁠[2]

In September 1985, Gordon R. Parker succeeded Plato Malozemoff as chief executive officer. In 1987, T. Boone Pickens and his investment group Ivanhoe Partners offered $95 a share for the 90 percent of Newmont they did not control. Consolidated Gold Fields raised its stake to 47.7 percent and Newmont announced a $33-a-share dividend under a restructuring plan, thwarting the bid.⁠[3]

Minera Yanacocha in Peru, in which Newmont held 51.35%, began production in 1993, and Batu Hijau in Indonesia, in which it held 45%, started up in late 1999. Wayne W. Murdy was elected chief executive officer in November 2000, effective January 2001. On January 10, 2001, Newmont acquired Battle Mountain Gold Company through a merger.⁠[4]

On June 2, 2000, an estimated 151 kilograms of mercury leaked from a Yanacocha transport along a 40-kilometer section of highway through San Juan, Choropampa and Magdalena, and two to three hundred villagers were identified as having some level of exposure. An independent investigation could not say with certainty how the mercury was lost.⁠[5]

In February 2002, Newmont completed its acquisition of Canada’s Franco-Nevada Mining Corporation, and on February 15 it declared its bid for Australia’s Normandy Mining unconditional, with more than 66 percent of Normandy’s fully diluted shares secured.⁠[6]

The deal closed on February 16, 2002, creating the world’s largest gold producer, with a market capitalization of more than US$9.5 billion.⁠[7]

In 2006, Newmont reached a $30 million out-of-court settlement with the Indonesian government to resolve a civil suit. On April 24, 2007, the Manado District Court acquitted Newmont and Richard Ness, president director of its local subsidiary, of charges of dumping dangerous levels of toxins into a bay and sickening villagers.⁠[8]

Newmont had already agreed to buy Goldcorp for $10 billion when Barrick publicly announced a $17.8 billion hostile, all-share, no-premium offer on February 25, 2019. Newmont’s board unanimously rejected it and proposed a joint venture combining the two companies’ Nevada operations.⁠[9]

On March 11, 2019, the two companies signed a Nevada joint venture agreement and Barrick withdrew its proposal. Chief executive Gary Goldberg called it “an innovative and effective way to generate long-term value.”⁠[10]

On April 18, 2019, Newmont completed its acquisition of Goldcorp through a court-approved plan of arrangement, exchanging each Goldcorp share for about 0.3280 of a Newmont share plus US$0.02 in cash. Renamed Newmont Goldcorp Corporation, it continued trading on the New York Stock Exchange as NEM and began trading on the Toronto Stock Exchange as NGT.⁠[11]

Nevada Gold Mines LLC was launched on July 1, 2019, owned 61.5 percent by Barrick, which operates it, and 38.5 percent by Newmont Goldcorp. It comprises 10 underground and 12 open pit mines in northeastern Nevada, including three Tier One assets: Goldstrike/Carlin, Cortez and Turquoise Ridge/Twin Creeks.⁠[12]

On July 23, 2019, Newmont Goldcorp announced that President Tom Palmer would succeed Gary Goldberg as President and Chief Executive Officer on October 1. Goldberg, who had served the company for more than seven years, would retire and serve as Executive Advisor through March 31, 2020.⁠[13]

On January 6, 2020, Newmont announced a refreshed brand, name and logo. Tom Palmer said: “We successfully completed two historic transactions in 2019.”⁠[14]

The rename dropped “Goldcorp” from the company’s name, and the company planned a 79% increase in its quarterly dividend to $0.25 a share.⁠[15]

Newmont marked 100 years since its founding in 1921. Publicly traded since 1925, it is the only gold producer in the S&P 500 IndexS&P 500The S&P 500 is a U.S. large-cap equity index compiled by S&P Dow Jones Indices. It includes 500 leading companies, covers about 80% of available market capitalization and is described by S&P DJI as “widely regarded as the best single gauge of large-cap U.S. equities.”Open the full entry.⁠[16]

Newmont announced the acquisition of Australia’s Newcrest Mining in May 2023 in a deal valued at US$19.1 billion and completed it on November 6, 2023, the largest deal in the gold mining sector to date.⁠[17]

Newmont issued 357,691,627 new shares of common stock and was then listed in New York, Toronto, Australia and Papua New Guinea. Tom Palmer said: “Today marks a historic milestone in our company and the industry.”⁠[18]

With the sales of Akyem in Ghana and Porcupine in Canada closed, Newmont said it had completed the non-core divestiture program announced in February 2024, and expected total gross proceeds from announced divestitures of up to $4.3 billion, including $3.8 billion from non-core divestitures.⁠[19]

On September 10, 2025, Newmont announced that, due to low trading volumes, it would voluntarily delist from the Toronto Stock Exchange on or about the close of trading on September 24, 2025. The New York Stock Exchange remains its primary listing, and its Australian and Papua New Guinea listings continue.⁠[20]

In September 2025, Newmont announced that Tom Palmer would step down as CEO on December 31, 2025, and serve as Strategic Advisor until retiring on March 31, 2026. President and COO Natascha Viljoen, who joined Newmont in 2023 and previously led Anglo American Platinum, became President and CEO on January 1, 2026.⁠[21]

For fiscal 2025, Newmont had sales of $22,669 million, net income attributable to Newmont stockholders of $7,085 million, attributable gold production of 5.9 million ounces and a record $7.3 billion in free cash flow.⁠[22]

At December 31, 2025, Newmont and its subsidiaries employed approximately 17,500 people, about 26,600 people worked as contractors, and attributable proven and probable gold reserves stood at 118.2 million ounces.⁠[23]