Newmont Corporation (ASX:NEM) has announced its financial results for the third quarter of 2024. The company reported a net income of $924 million and generated a free cash flow of $760 million. Newmont produced 2.1 million gold equivalent ounces and declared a $0.25 per share dividend for the quarter. The company is advancing its non-core asset divestment program, with the sale of its Akyem and Telfer mines expected to bring in up to $1.5 billion.
Newmont Corporation's Q3 2024 results highlight the company's strong financial performance and strategic initiatives. With a net income of $924 million, Newmont is effectively managing its operations, focusing on maximizing shareholder value through divestitures and share repurchases. The company is selling its Akyem and Telfer mines to generate up to $1.5 billion. Production guidance for the fourth quarter is set at 1.8 million gold ounces, with an emphasis on operational efficiencies. Newmont is also committed to sustainability, partnering to launch a traceable gold bar and enhancing its tailings capacity for long-term sustainability. The company remains focused on reducing debt and improving shareholder returns.
Our third quarter results reflect Newmont's continued focus on operational efficiency and shareholder value. We are making significant progress in optimizing our portfolio with strategic divestitures and have accelerated our share repurchase program. Our commitment to sustainability is also demonstrated through our partnerships and initiatives such as the traceable mine-to-market gold bar.