PRECIOUS METALS

Newmont confirms planned dividend hike

Industry leading dividend now on $1/sh annual run rate

Newmont Corp has confirmed an annual dividend of US$1/share

Newmont Corp has confirmed an annual dividend of US$1/share

The Colorado-based company announced in January it was planning to pay a higher dividend but won't commit beyond the current payout due to uncertainty about the ongoing impacts of measures to curb the spread of COVID-19.

Newmont CEO Tom Palmer told Reuters earlier this week the company was planning a phased restart of its North and South American operations as some governments declare mining an essential service and lift operating restrictions.

"I would expect we would be able to bring operations that have been on care and maintenance back into some level of production," Palmer said.

He said the company was talking with government officials in Peru and Mexico about economic and social impacts of mining shutdowns. Argentina president Alberto Fernandez, who imposed a country-wide lockdown in mid-March, has also moved to restart mines.

Transport restrictions are expected to continue to affect operations.

Newmont withdrew its full-year 2020 guidance in March after putting four of its mines on temporary care and maintenance. It said earlier this month it would scale back operations at Penasquito in Mexico after earlier winding back activities at Yanacocha in Peru.

Newmont shares (NEM:NYSE) have gained 37% in the year to date to US$59.86, capitalising the company at $48.4 billion.

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.