Newmont (NEM) Q2 2025 Earnings Call Transcript
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An unplanned suspension at Red Chris following two significant fall of ground incidents led to immediate operational and safety impacts, with management prioritizing rescue and recovery. After completing its non-core asset divestment program, Newmont(NYSE:NEM) reported record quarterly free cash flow of $1.7 billion in Q2 2025, supported by stable gold and copper production, and confirmed it remains on track to meet its full-year guidance. The board doubled its share repurchase authorization to $6 billion in Q2 2025, with $2.8 billion in share repurchases already completed since February. Production at Cadia and Penasquito is forecast to decline in the second half of 2025 as mining transitions into lower-grade zones, while sustaining and development capital expenditures are heavily weighted toward the back half of 2025 by deliberate design. Management reconfirmed that all-in sustaining costs (non-GAAP, co-product basis) are likely to rise in Q3 and Q4 2025, and noted ongoing productivity and cost-optimization initiatives across Lihir, Boddington, and Cerro Negro.
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