Newmont remained the world’s largest gold producing company in 2020, with a 6 percent share.
With a broader focus, the top 10 gold producers comprise approximately 30% of the total mined gold production worldwide.
In particular, Newmont’s competitive position is based on the size and grade of its mineral bodies anchored in favorable mining jurisdictions and its ability to manage costs compared to other producers.
Although it has a diverse portfolio of mining operations with different ore grades and cost structures.
Your costs are driven by the location, grade, and nature of your ore bodies, and the level of input costs, including energy, labor, and equipment.
Similarly, metals markets are cyclical, and Newmont’s ability to maintain its long-term competitive position relies on its ability to acquire and develop quality deposits, recruit and retain a skilled workforce, and manage its costs.
The company is primarily a gold producer with significant operations and / or assets in the United States, Canada, Mexico, the Dominican Republic, Peru, Suriname, Argentina, Chile, Australia and Ghana.
As of December 31, 2020, Newmont had attributable proven and probable gold reserves of 94.2 million ounces and a total land position of about 22,700 square miles (58,900 square kilometers).
Newmont is also engaged in the production of copper, silver, lead and zinc.
Newmont Corporation was incorporated in 1921 and is celebrating 100 years as the world’s leading gold company.
After completing the acquisition of Goldcorp on April 18, 2019, the formation of Nevada Gold Mines (NGM), in which it has a 38.5 percent stake, concluded on July 1, 2019.
As part of the NGM lineup, it contributed Carlin, Phoenix, Twin Creeks and Long Canyon in exchange for its 38.5 percent stake.
Historically, its Phoenix operations in the United States produced copper as a co-product until the formation of NGM, beginning on July 1, 2019, at which point copper became a by-product.