United States securities and exchange commission logo
May 22, 2024
Peter Wexler
Executive Vice President and Chief Legal Officer
Newmont Corporation
6900 E Layton Avenue
Denver, Colorado 80237
Re: Newmont Corporation
Form 10-K for the
Fiscal Year ended December 31, 2023
Filed February 29,
2024
File No. 001-31240
Dear Peter Wexler:
We have limited our review of your filing to the financial
statements and related
disclosures and have the following comment.
Please respond to this letter within ten business days by
providing the requested
information or advise us as soon as possible when you will respond. If
you do not believe a
comment applies to your facts and circumstances, please tell us why in
your response.
After reviewing your
response to this letter, we may have additional comments.
Form 10-K for the Fiscal Year ended December 31, 2023
Financial Statements
Note 7 - Impairment Charges, page 160
1. We note that your
cumulative losses before income and mining tax and other items for the
Yanacocha segment over
the last three years amount to $3.2 billion; and that annual losses
exceeded revenues for
the segment in each of the three years.
Given the consecutive
operating losses and $2.1 billion in total assets reported for the
Yanacocha segment,
please explain to us how you assessed the long-lived assets of the
segment for
recoverability in determining there was no impairment in 2023 or 2022, and
in booking the $1
million impairment in 2021.
Please submit the
analysis that you performed in making these determinations, including
details of all key
assumptions involved and the basis for those assumptions.
Peter Wexler
Newmont Corporation
May 22, 2024
Page 2
In closing, we remind you that the company and its management are
responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review,
comments, action or
absence of action by the staff.
Please contact Sondra Snyder at 202-551-3332 or Gus Rodriguez at
202-551-3752 with
any questions.
FirstName LastNamePeter Wexler Sincerely,
Comapany NameNewmont Corporation
Division of
Corporation Finance
May 22, 2024 Page 2 Office of Energy &
Transportation
FirstName LastName