The company added 7.4Moz through exploration.

"Newmont has the largest gold reserve base in the industry underpinned by our world-class ore bodies in top tier jurisdictions," president and CEO Tom Palmer said.

"In 2019, we added almost 50 million ounces of gold reserves through the acquisition of Goldcorp, formation of the Nevada Gold Mines joint venture and the continuation of our leading exploration program.

"Our reserve and resource base will support stable production of more than 6 million ounces per annum for decades to come."

Adjusted reserves are 95.7Moz due to the divestments of Red Lake in Canada and KCGM in Australia.

The reserve grade fell to 1.05 grams per tonne gold from to 1.19gpt, mainly due to the addition of polymetallic mines and projects including Peñasquito, NuevaUnión and Norte Abierto, which was partially offset by higher-grade reserves from the company's 38.5% stake in Nevada Gold Mines.

The company said 88% of its reserve base was in the Americas and Australia.

Australia comprised 21% of the total, or 20.7Moz, including about 3Moz for KCGM.

Tanami in the Northern Territory was a standout for Newmont, adding 1.5Moz of reserves, 1.1Moz of measured and indicated resources and 1.6Moz of inferred resources.

Boddington in WA is Newmont's longest-life operation with 14 years, followed by Tanami and Peñasquito in Mexico with 12 years and Ahafo in Ghana with 11 years.

The company also reported a gold equivalent resource of 63Moz from copper, silver, zinc, lead and molybdenum.

Measured and indicated gold resources were 76.7Moz of gold, or 74.1Moz excluding Red Lake and KCGM, while inferred resources were 31.3Moz, or 29.4Moz.

M&I resources were up 95%, while inferred resources doubled.

The company added 13Moz through exploration.

The grade increased slightly to 0.72gpt gold from 0.69gpt gold in M&I, but dropped to 0.66gpt from 1.01gpt in inferred due to the addition of polymetallic projects.

Reserves were estimated at US$1,200 an ounce and resources at $1400/oz.

The company said a $100/oz increase in the gold price would result in a roughly 6% rise in reserves, while a $100/oz decrease would see reserves fall 6%.

Newmont expects to spend $230 million on exploration this year, down 13% as the company aims to capture $25 million of exploration synergies from the Goldcorp acquisition and about $10 million from the divestiture of KCGM and Red Lake.

About 80% of total exploration investment will be dedicated to near-mine expansion programs, with the remainder to be spent on greenfields and innovation.

Geographically, Newmont expects to invest about 30% in North America, 25% in South America, 20% in Australia and the remainder in Africa and other locations.