Newmont CEO Trumpets Rising Free Cash Flow on Higher Gold Prices

Newmont CEO Trumpets Rising Free Cash Flow on Higher Gold Prices

Engineers set off explosions to remove soil while mining for gold in a pit at the Yanacocha gold mine in Cajamarca, Peru. Operations at Yanacocha, South America’s largest gold mine, are a joint venture between Newmont, Minas Buenaventura, and International Finance Corp. Newmont is coming off a record quarter and its chief executive, Tom Palmer, is seeking to broaden the mining company’s ownership base by emphasizing its growing dividend, long-lived assets, rising free cash flow, strong corporate governance, and exposure to a higher gold price.

“Our portfolio is hitting its stride and we’ve built momentum for the fourth quarter, which will be the strongest quarter of the year,” Palmer tells Barron’s .

Palmer, 52, is a fourth-generation Australian miner who got the top job at Denver-based Newmont a year ago. Before Newmont (ticker: NEM), Palmer worked at mining giant Rio Tinto (RIO), which has significant Australian operations.

Newmont is one of the […]

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