Newmont Corporation announced full year 2022 results, as well as its 2023 outlook.
The company produced 6.0 million gold ounces and 1.3 million gold equivalent ounces from copper, silver, lead and zinc; achieved original production guidance range set in December 2021
Gold all-in sustaining costs were $1,211 per ounce, in-line with updated guidance range despite global cost pressures throughout the year.
As previously signaled, 2023 production guidance is expected to be between 5.7 and 6.3 million gold ounces.
"Newmont safely delivered on our commitments in 2022 and finished the year from a position of strength, meeting our full year production guidance and generating $4.6 billion in adjusted EBITDA and $1.1 billion in free cash flow. As we look ahead to 2023 and beyond, we expect to steadily increase production and improve costs from our balanced, global portfolio of world-class assets and robust project pipeline. We remain committed to our disciplined and balanced approach to capital allocation, allowing us to maintain an investment-grade balance sheet while steadily reinvesting in the business and providing superior returns to shareholders through our industry-leading dividend framework," Tom Palmer, President and Chief Executive Officer.
Alex Shishlo for Rough&Polished
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