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Newmont Corporation: A Bold Move Towards Financial Health

Newmont Corporation, a major player in the industry (Nyse: no, TSX: NGT, ASX: NEM, PNGX: NEM), has taken an important step towards financial stability. Today, the company, along with Newcrest Finance Pty Limited, a subsidiary of Newmont, announced the redemption of $927,754,000 in principal, effectively fully retiring the 5.30% Notes due 2026. This strategic move highlights Newmont’s commitment to deleveraging and fortifying its balance sheet, with approximately $1.4 billion of debt retired in the past year alone.

Key Points:

1. Redemption Details:
   • The redemption of the Notes is scheduled for February 7, 2025 (the “Redemption Date”).
   • The redemption price will include the make-whole amount for the Notes along with accrued and unpaid interest up to the Redemption Date.
   • Interest accrual on the Notes will cease after the Redemption Date.
2. About Newmont:
   Newmont stands as a prominent figure in the gold industry, also boasting production in copper, zinc, lead, and silver. With a diversified portfolio of assets spanning various mining jurisdictions across the globe, including Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea, the company maintains its position as the sole gold producer listed in the S&P 500 Index. Recognized for its steadfast commitment to environmental, social, and governance principles, Newmont excels in value creation, backed by unparalleled safety standards, exceptional execution, and technical prowess. Established in 1921, the company has been publicly traded since 1925.

3. Sustainability Focus:
   At the core of Newmont’s operations is a purpose-driven mission to create value and enhance lives through sustainable and responsible mining practices. To delve deeper into Newmont’s sustainability strategy and initiatives, visit their website at www.newmont.com.

In conclusion, Newmont Corporation’s proactive approach to managing its debts sets a commendable precedent in the industry. By retiring significant amounts of debt and focusing on strengthening its financial position, the company demonstrates resilience and foresight in navigating the challenges of the economic landscape. A commitment to sustainability and value creation underpins Newmont’s ethos, paving the way for a more robust and sustainable future in the mining sector.