DENVER--(BUSINESS WIRE)--Newmont Corporation (NYSE: NEM, ASX: NEM, TSX: NGT, PNGX: NEM) (Newmont or the Company) today announced its fourth quarter and full year 2024 results, declared a fourth quarter dividend of $0.251 and provided guidance for the full year of 2025. 
"2024 was a transformational year for Newmont, as we focused on the integration of the Newcrest portfolio, divestment of our non-core assets, and transitioning the business onto a stable operating and investment platform. We have deliberately streamlined Newmont into the world's best collection of Tier 1 gold assets, with a strong foundation of operational and financial performance. Our record fourth quarter gave a glimpse into the promising potential of the business and allowed Newmont to deliver record operating cash flows," said Tom Palmer, Newmont’s President and Chief Executive Officer. ”With the gold price predicted to remain strong and the proceeds from our divestiture program expected to materialize during the first half of 2025, we expect our balance sheet and liquidity remains robust. This year we are focused on continuing to improve the business across our safety, costs, and productivity performance. Looking to 2025 and beyond, our priorities are clear: maximize the potential of our Tier 1 portfolio, meet our commitments, return capital, and drive long-term value for our shareholders."
2024 Results
- Reported Net Income of $3.4 billion, Adjusted Net Income (ANI)2 of $3.48 per diluted share and Adjusted EBITDA2 of $8.7 billion for the year with notable fourth quarter ANI2 of $1.6 billion or $1.40 per diluted share
- Generated $6.3 billion of cash from operating activities, net of working capital changes of $(1.0) billion; reported $2.9 billion in Free Cash Flow2 for the year, including a record $1.6 billion in the fourth quarter
- Announced agreements to divest six non-core assets: Akyem, Cripple Creek & Victor (CC&V), Éléonore, Musselwhite, Porcupine and Telfer, along with its 70% interest in the Havieron project. Telfer and Havieron closed in December, 2024
- Potential to generate up to $4.3 billion in total proceeds from non-core asset and other investment sales, including up to $2.5 billion in cash expected to be delivered in the first half of 2025, net of taxes and closing costs
- Repurchased $1.2 billion of outstanding shares as part of the $3.0 billion total share repurchase programs, authorized by the Board of Directors through October 2026
- Declared fourth quarter dividend of $0.25 per share and delivered $1.1 billion in total dividends to shareholders in 2024
- Completed integration of Newcrest assets, solidifying Newmont as the world's largest gold producer with robust complementary copper growth opportunities
- Produced 6.8 million attributable gold ounces, primarily driven by production of 5.7 million attributable gold ounces from Newmont's Tier 1 Portfolio3, as well as 1.9 million gold equivalent ounces (GEOs)4 from copper, silver, lead and zinc, including 153 thousand tonnes of copper
- Maintained a flexible investment-grade balance sheet, including $3.6 billion in cash and $7.7 billion in total liquidity
- Reduced debt by $1.4 billion over the last 12 months, which includes early redemption of $928 million in 2026 Notes redeemed on February 7, 2025; reported net debt to adjusted EBITDA of 0.6x2
- Declared total Newmont reserves of 134 million attributable gold ounces and resources of 170 million attributable gold ounces5; significant upside to other metals, including more than 13.5 million tonnes of copper reserves
2025 Guidance3
- Attributable production for 2025 is expected to be approximately 5.9 million gold ounces, including 0.3 million gold ounces in the first quarter from the non-core assets held for sale and 5.6 million gold ounces for the Total Tier 1 Portfolio3
- Gold AISC2 for the Total Portfolio is expected to be $1,630 per ounce including production from non-core assets for the first quarter of 2025; with Gold AISC2 from the Total Tier 1 Portfolio expected to be $1,620 per ounce for full year 2025
- Sustaining capital spend of approximately $1.8 billion in 2025 for the Total Tier 1 Portfolio3; Development capital spend of approximately $1.3 billion in 2025 for the Total Tier 1 Portfolio3 to progress key near-term development projects
| ____________________ | |||
1 Newmont's Board of Directors declared a dividend of $0.25 per share of common stock for the fourth quarter of 2024, payable on March 27, 2025 to holders of record at the close of business on March 4, 2025. | |||
2 Non-GAAP metrics; see reconciliations at the end of this release. | |||
3 See discussion of guidance, including the definition of the Tier 1 Portfolio, and cautionary statement at the end of this release regarding forward-looking statements. | |||
4 Gold equivalent ounces (GEOs) calculated using Gold ($1,400/oz.), Copper ($3.50/lb.), Silver ($20.00/oz.), Lead ($1.00/lb.) and Zinc ($1.20/lb.) pricing for 2024. | |||
5 Total resources presented includes Measured and Indicated resources of 99.4 million gold ounces and Inferred resources of 70.6 million gold ounces. See cautionary statement at the end of this release. | |||
Summary of Fourth Quarter and Full Year 2024 Results
|
| 2023 |
| 2024 |
| Change | ||||||||||||||||||||||||||||
|
| Q1 | Q2 | Q3 | Q4 | FY |
| Q1 | Q2 | Q3 | Q4 | FY |
| FY | ||||||||||||||||||||
Average realized gold price ($/oz) |
| $ | 1,906 |
| $ | 1,965 | $ | 1,920 | $ | 2,004 |
| $ | 1,954 |
|
| $ | 2,090 |
| $ | 2,347 | $ | 2,518 | $ | 2,643 | $ | 2,408 |
| 23% | ||||||
Attributable gold production (Moz)1 |
|
| 1.27 |
|
| 1.24 |
| 1.29 |
| 1.74 |
|
| 5.55 |
|
|
| 1.68 |
|
| 1.61 |
| 1.67 |
| 1.90 |
| 6.85 |
| 23% | ||||||
Gold CAS ($/oz)2,3 |
| $ | 1,025 |
| $ | 1,054 | $ | 1,019 | $ | 1,086 |
| $ | 1,050 |
|
| $ | 1,057 |
| $ | 1,152 | $ | 1,207 | $ | 1,096 | $ | 1,126 |
| 7% | ||||||
Gold AISC ($/oz)3 |
| $ | 1,376 |
| $ | 1,472 | $ | 1,426 | $ | 1,485 |
| $ | 1,444 |
|
| $ | 1,439 |
| $ | 1,562 | $ | 1,611 | $ | 1,463 | $ | 1,516 |
| 5% | ||||||
Net income (loss) attributable to Newmont stockholders ($M) |
| $ | 351 |
| $ | 155 | $ | 158 | $ | (3,158 | ) | $ | (2,494 | ) |
| $ | 170 |
| $ | 853 | $ | 922 | $ | 1,403 | $ | 3,348 |
| 234% | ||||||
Adjusted net income ($M)4 |
| $ | 320 |
| $ | 266 | $ | 286 | $ | 452 |
| $ | 1,324 |
|
| $ | 630 |
| $ | 834 | $ | 936 | $ | 1,591 | $ | 3,991 |
| 201% | ||||||
Adjusted net income per share ($/diluted share)4 |
| $ | 0.40 |
| $ | 0.33 | $ | 0.36 | $ | 0.46 |
| $ | 1.57 |
|
| $ | 0.55 |
| $ | 0.72 | $ | 0.81 | $ | 1.40 | $ | 3.48 |
| 122% | ||||||
Adjusted EBITDA ($M)4 |
| $ | 990 |
| $ | 910 | $ | 933 | $ | 1,382 |
| $ | 4,215 |
|
| $ | 1,694 |
| $ | 1,966 | $ | 1,967 | $ | 3,048 | $ | 8,675 |
| 106% | ||||||
Cash from operations before working capital ($M)5 |
| $ | 843 |
| $ | 763 | $ | 874 | $ | 787 |
| $ | 3,267 |
|
| $ | 1,442 |
| $ | 1,657 | $ | 1,846 | $ | 2,398 | $ | 7,343 |
| 125% | ||||||
Net cash from operating activities of continuing operations ($M) |
| $ | 481 |
| $ | 656 | $ | 1,001 | $ | 616 |
| $ | 2,754 |
|
| $ | 776 |
| $ | 1,394 | $ | 1,637 | $ | 2,511 | $ | 6,318 |
| 129% | ||||||
Capital expenditures ($M)6 |
| $ | 526 |
| $ | 616 | $ | 604 | $ | 920 |
| $ | 2,666 |
|
| $ | 850 |
| $ | 800 | $ | 877 | $ | 875 | $ | 3,402 |
| 28% | ||||||
Free cash flow ($M)7 |
| $ | (45 | ) | $ | 40 | $ | 397 | $ | (304 | ) | $ | 88 |
|
| $ | (74 | ) | $ | 594 | $ | 760 | $ | 1,636 | $ | 2,916 |
| 3214% | ||||||
Fourth Quarter 2024 Production and Financial Summary
Attributable gold production1 increased 14 percent to 1,899 thousand ounces compared to the prior quarter primarily due to higher production at Peñasquito, Boddington, and Lihir and the non-managed joint venture at Nevada Gold Mines.
Average realized gold price was $2,643 per ounce, an increase of $125 per ounce compared to the prior quarter. Average realized gold price includes $2,654 per ounce of gross price received, the unfavorable impact of $2 per ounce mark-to-market on provisionally-priced sales and reductions of $9 per ounce for treatment and refining charges.
Gold CAS2 totaled $2.0 billion for the quarter. Gold CAS per ounce3 decreased 9 percent to $1,096 per ounce compared to the prior quarter, primarily due to an increase in production, partially offset by higher costs.
Gold AISC per ounce3 decreased 9 percent to $1,463 per ounce compared to the prior quarter, primarily due to lower CAS per ounce.
Net income attributable to Newmont stockholders was $1,403 million or $1.24 per diluted share, an increase of $481 million from the prior quarter primarily due to higher average realized gold prices and higher sales volumes, partially offset by a loss on assets held for sale of $268 million recognized in the fourth quarter.
Adjusted net income4 for the quarter was $1,591 million or $1.40 per diluted share compared to $936 million or $0.81 per diluted share in the prior quarter. Net income attributable to Newmont stockholders has been adjusted to exclude a non-cash loss on assets held for sale and revisions to reclamation and remediation.
Consolidated cash from operations before working capital5 increased 30 percent from the prior quarter to $2.4 billion, primarily due to higher realized gold prices and higher production.
Consolidated net cash from operating activities increased 53 percent from the prior quarter to $2.5 billion, primarily due to higher consolidated cash from operations before working capital and changes in working capital.
Net cash from operating activities in the fourth quarter benefited from a $115 million increase in operating cash flow due to changes in working capital from the prior quarter, primarily from a build in accounts payable for taxes and employee benefits due in 2025, partially offset by a $160 million higher outflow in reclamation liability, primarily related to cash spent for the construction of the Yanacocha water treatment facilities.
Free Cash Flow7 increased 115 percent from the prior quarter to $1.6 billion, primarily due to higher consolidated net cash from operating activities and stable capital expenditures of $875 million.
Balance sheet and liquidity remained strong in 2024, ending the year with $3.6 billion of consolidated cash and cash of $45 million included in Assets held for sale, with approximately $7.7 billion of total liquidity; reported net debt to adjusted EBITDA of 0.6x8.
Fourth Quarter 2024 Non-Managed Joint Venture and Equity Method Investments9
Nevada Gold Mines (NGM) attributable gold production increased 16 percent from the prior quarter to 280 thousand ounces, with a 10 percent decrease in CAS to $1,177 per ounce3. AISC decreased 11 percent from the prior quarter to $1,492 per ounce3.
Pueblo Viejo (PV) attributable gold production decreased 6 percent from the prior quarter to 62 thousand ounces. Cash distributions received from the Company's equity method investment in Pueblo Viejo totaled $56 million for the fourth quarter and $150 million for the full year. Capital contributions related to the expansion project at Pueblo Viejo were $58 million for the fourth quarter and $84 million for the full year.
Fruta del Norte attributable gold production is reported on a quarter lag. Production reported in the fourth quarter of 2024 decreased 9 percent to 39 thousand ounces compared to the prior quarter. Cash distributions received from the Company's equity method investment in Fruta del Norte totaled $15 million for the fourth quarter and $46 million for the full year.
____________________ | |||
1 Attributable gold production includes ounces from the Company's equity method investment in Pueblo Viejo (40%) and in Lundin Gold (32.0%). | |||
2 Consolidated Costs applicable to sales (CAS) excludes Depreciation and amortization and Reclamation and remediation. | |||
3 Non-GAAP measure. See end of this release for reconciliation to Costs applicable to sales. | |||
4 Non-GAAP measure. See end of this release for reconciliation to Net income (loss) attributable to Newmont stockholders. | |||
5 Cash from operations before working capital is a non-GAAP metric with the most directly comparable GAAP financial metric being to Net cash provided by (used in) operating activities, as shown reconciled in the Condensed Consolidated Statements of Cash Flows. | |||
6 Capital expenditures refers to Additions to property plant and mine development from the Consolidated Statements of Cash Flows. | |||
7 Non-GAAP measure. See end of this release for reconciliation to Net cash provided by (used in) operating activities. | |||
8 Non-GAAP measure. See end of this release for reconciliation. | |||
9 Newmont has a 38.5% interest in Nevada Gold Mines, which is accounted for using the proportionate consolidation method. In addition, Newmont has a 40% interest in Pueblo Viejo, which is accounted for as an equity method investment, as well as a 32.0% interest in Lundin Gold, who wholly owns and operates the Fruta del Norte mine, which is accounted for as an equity method investment on a quarter lag. | |||
2025 Guidance
Newmont's guidance for 2025 demonstrates the value derived from this world-class portfolio of eleven Tier 1 and emerging Tier 1 mines. Guidance for 2025 includes only first quarter expectations for the non-core assets held for sale. Newmont’s Tier 1 Portfolio also includes attributable production from the Company’s equity interest in Pueblo Viejo and Lundin Gold (Fruta del Norte). Tier 1 Portfolio cost and capital metrics include the proportional share of the Company’s interest in the Nevada Gold Mines Joint Venture.
PRODUCTION AND COST GUIDANCE
Guidance Metric (+/-5%) | 2025E |
Attributable Gold Production (Moz) | |
Managed Tier 1 Portfolio | 4.2 |
Non-Managed Tier 1 Portfolio | 1.4 |
Total Tier 1 Portfolio | 5.6 |
Non-Core Assets* | 0.3 |
Total Newmont Attributable Gold Production (Moz) | 5.9 |
Gold CAS ($/oz)** | |
Managed Tier 1 Portfolio | 1,170 |
Non-Managed Tier 1 Portfolio | 1,240 |
Total Tier 1 Portfolio | 1,180 |
Non-Core Assets* | 1,450 |
Total Newmont Gold CAS ($/oz)** | 1,200 |
Gold AISC ($/oz)** | |
Managed Tier 1 Portfolio | 1,630 |
Non-Managed Tier 1 Portfolio | 1,555 |
Total Tier 1 Portfolio | 1,620 |
Non-Core Assets* | 1,830 |
Total Newmont Gold AISC ($/oz)** | 1,630 |
*Guidance for non-core assets held for sale, Akyem, CC&V, Porcupine, Éléonore and Musselwhite, reflects attributable gold production, Gold CAS and Gold AISC for the first quarter of 2025 only. Sales agreements for each asset have been announced, with transactions expected to close in the first half of 2025, subject to certain conditions being satisfied. See cautionary statement at the end of this release. |
**Presented on a consolidated basis and assuming a gold price of $2,500/oz. |
Newmont's Managed Tier 1 Portfolio includes 11 managed operations. This portfolio is further enhanced by Non-Managed Tier 1 assets, including the Company’s ownership in the Nevada Gold Mines JV, Pueblo Viejo JV, and its equity interest in Lundin Gold. Together, these assets form the core of Newmont's Total Tier 1 Portfolio. The Total Portfolio is expected to produce 5.9 million ounces in 2025 from the Tier 1 Portfolio and first quarter production from the non-core assets held for sale.
The Company expects attributable gold production from its Total Tier 1 Portfolio to remain largely consistent with 2024 at approximately 5.6 million ounces, with a gold CAS of $1,180 per ounce and a gold AISC of $1,620 per ounce. Unit costs in 2025 include the estimated impact from slightly lower sales volumes due to the planned mine sequencing at Newmont's Tier 1 operations, a higher proportion of costs being allocated to gold versus other metals produced, higher royalties and production taxes from a stronger gold price environment, approximately 3 percent cost escalation, and higher sustaining capital to advance critical tailings work.
CAPITAL GUIDANCE
Guidance Metric (+/-5%) | 2025E |
Sustaining Capital ($M) | |
Managed Tier 1 Portfolio | 1,530 |
Non-Managed Tier 1 Portfolio | 270 |
Total Tier 1 Portfolio | 1,800 |
Non-Core Assets* | 75 |
Total Newmont Sustaining Capital* | 1,875 |
Development Capital ($M) | |
Managed Tier 1 Portfolio | 1,140 |
Non-Managed Tier 1 Portfolio | 160 |
Total Tier 1 Portfolio | 1,300 |
Non-Core Assets* | 30 |
Total Newmont Development Capital** | 1,330 |
*Guidance for non-core assets held for sale, Akyem, CC&V, Porcupine, Éléonore, and Musselwhite, reflects sustaining and development capital for the first quarter of 2025 only. See the cautionary statement at the end of this release for further details. |
**Sustaining capital is presented on an attributable basis; Capital guidance excludes amounts attributable to the Pueblo Viejo joint venture. |
Sustaining capital is expected to be approximately $1.8 billion in 2025 for the Total Tier 1 Portfolio to support key tailings management initiatives, water and infrastructure projects, equipment, and ongoing mine development.
Development capital is expected to be approximately $1.3 billion in 2025 for the Total Tier 1 Portfolio, as the Company focuses on disciplined reinvestment in its most profitable near-term projects. 2025 guidance primarily includes spend for Tanami Expansion 2, the Cadia Panel Caves in Australia, and Ahafo North in Ghana, as well as advancing the Red Chris Block cave project in Canada toward an investment decision. In addition, development capital guidance includes spend related to the Company’s ownership interest in Nevada Gold Mines.
Development capital estimates exclude contributions to support Newmont’s 40 percent interest in the Pueblo Viejo expansion, which is accounted for as an equity method investment.
2025 GOLD PRODUCTION AND CAPITAL SEASONALITY GUIDANCE AND FIRST QUARTER COMMENTARY
Total Tier 1 Portfolio* | H1 2025E | H2 2025E |
Attributable Production | 48% | 52% |
Sustaining Capital | 52% | 48% |
Development Capital | 57% | 43% |
*Total Tier 1 Portfolio includes the Managed Tier 1 Portfolio and the Non-Managed Tier 1 Portfolio and does not include non-core assets held for sale. |
H1/H2 Commentary: Attributable gold production for the Total Tier 1 Portfolio in 2025 is expected to be approximately 48 percent weighted to the first half of the year. The increase in production in the second half of the year is expected to be driven by the non-managed Nevada Gold Mines and Pueblo Viejo operations and the addition of Ahafo North to commercial production. Gold production weighting excludes non-core assets.
Sustaining capital for the Total Tier 1 Portfolio is weighted toward the first half of 2025, primarily due to the timing of scheduled work on pit design and access roads for Phase 14a at Lihir in the first half and the Q2 start of warmer weather surface work at Red Chris and Brucejack in Northern Canada. Development capital for the Total Tier 1 Portfolio is heavily weighted to the first half of 2025 driven primarily by work at Ahafo North as the project moves toward commercial production.
First Quarter Commentary: The first quarter of 2025 is expected to include 23 percent of Total Tier 1 Portfolio production and associated impacts on unit costs. The first quarter will also include 0.3 million ounces of non-core assets pending divestiture at a weighted average gold AISC of $1,830 per ounce. The weighting of Tier 1 production and the inclusion of non-core assets combined indicate that the first quarter of 2025 will have notably higher costs than subsequent quarters. First quarter free cash flow will be impacted by these dynamics as well as expected working capital changes for previously accrued tax and employee benefit payments during the quarter.
CO-PRODUCT PRODUCTION AND COST GUIDANCE
Guidance Metric (+/-5%) | 2025E |
Copper ($9,370/tonne price assumption)* |
|
Copper Production (ktonne) | 118 |
Copper CAS ($/tonne)** | $5,160 |
Copper AISC ($/tonne)** | $8,510 |
Silver ($30.00/oz price assumption) |
|
Silver Production (Moz) | 28 |
Silver CAS ($/oz)** | $11.50 |
Silver AISC ($/oz)** | $15.00 |
Lead ($2,094/tonne price assumption)* |
|
Lead Production (ktonne) | 90 |
Lead CAS ($/tonne)** | $1,080 |
Lead AISC ($/tonne)** | $1,290 |
Zinc ($2,756/tonne price assumption)* |
|
Zinc Production (ktonne) | 236 |
Zinc CAS ($/tonne)** | $1,430 |
Zinc AISC ($/tonne)** | $1,890 |
*Co-product metal pricing assumptions in imperial units equate to Copper ($4.25/lb.), Lead ($0.95/lb.) and Zinc ($1.25/lb.). |
**Consolidated basis |
In 2025, co-product production is expected to decline due to lower copper production as Cadia processes lower grade ore and Peñasquito produces less co-product from the Peñasco pit. Copper CAS per tonne is expected to rise in 2025 due to lower production at Cadia. Copper AISC per tonne is expected to rise in 2025 due to higher CAS per tonne and higher sustaining capital at Cadia.
Refer to the 2025 Production and Cost Guidance by Site below for additional details.
EXPLORATION AND ADVANCED PROJECTS GUIDANCE
Guidance Metric (+/-5%) | 2025E |
Exploration & Advanced Projects ($M) | $525 |
In 2025, Newmont plans to increase its investment in exploration and advanced projects to approximately $525 million, focusing on extending mine life at existing operations while continuing to develop reserves and resources. This includes an estimated $275 million dollars in exploration expense to progress organic growth around existing operations, including the Apensu and Subika Underground at Ahafo South and pit extension at Merian, and advance greenfield projects. Additionally, Newmont expects to allocate approximately $250 million to advanced project spending to support studies on its organic project pipeline.
CONSOLIDATED EXPENSE GUIDANCE
Guidance Metric (+/-5%) | 2025E |
General & Administrative ($M) | $475 |
Interest Expense ($M) | $300 |
Depreciation & Amortization ($M) a | $2,600 |
Reclamation and Remediation Accretion ($M) b | $475 |
Adjusted Tax Rate c,d | 34% |
a Depreciation & Amortization includes Q1 for non-core assets. |
b Reclamation and Remediation Accretion represents a subset of expenses within Reclamation and Remediation expense and is exclusive of Reclamation and Remediation adjustments and other within that income statement expense line item. Reclamation and Remediation Accretion includes Q1 2025 only for non-core assets. |
c The adjusted tax rate excludes certain items such as tax valuation allowance adjustments. |
d Assuming average prices of $2,500 per ounce for gold, $4.25 per pound for copper, $30.00 per ounce for silver, $0.95 per pound for lead, and $1.25 per pound for zinc and achievement of current production, sales and cost estimates, Newmont estimates its consolidated adjusted effective tax rate related to continuing operations for 2025 will be 34%. |
The 2025 guidance for general and administrative costs is expected to be $475 million as Newmont continues to manage a global business. Interest expense is expected to decrease to approximately $300 million due to the reduction in debt outstanding through early repayment and purchases along with higher capitalized interest. Reclamation and remediation expense is expected to increase to $475 million due to continued accretion of Newmont's closure liabilities. The adjusted tax rate is expected to remain stable at approximately 34 percent using a $2,500 per ounce gold price assumption.
ASSUMPTIONS AND SENSITIVITIES
| Assumption | Change (-/+) | Revenue and Cost Impact ($M)** |
|
|
| Total Tier 1 Portfolio |
Gold ($/oz) | $2,500 | $100 | $517 |
Australian Dollar | $0.70 | $0.05 | $160 |
Canadian Dollar | $0.75 | $0.05 | $45 |
Oil ($/bbl WTI) | $80 | $10 | $68 |
Copper ($/tonne)* | $9,370 | $550 | $65 |
Silver ($/oz) | $30.00 | $1.00 | $25 |
Lead ($/tonne)* | $2,094 | $220 | $20 |
Zinc ($/tonne)* | $2,756 | $220 | $50 |
*Co-product metal pricing assumptions in imperial units equate to Copper ($4.25/lb.), Lead ($0.95/lb.) and Zinc ($1.25/lb.). |
**Impacts are presented on a pretax basis. |
Excluded from the sensitivity is a royalty, production tax, and workers participation impact of approximately $10 per ounce for every $100 per ounce change in gold price.
Divestiture Program Update
In February 2024, Newmont announced the intent to divest its non-core assets, including six operations and two projects from its Australian, Ghanaian and North American business units. To date, Newmont has announced sales agreements for all non-core operations and its 70 percent interest in the Havieron project in Western Australia. Newmont continues to advance the divestiture process for the Coffee Project in the Yukon, which may extend beyond the first quarter of 2025. The Company will provide an update once a sales agreement for that project has been agreed.
Total gross proceeds from transactions announced in 2024 are expected to be up to $4.3 billion including contingent payments and prior to closing adjustments. This includes $3.8 billion from
Contacts
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