Newmont's (NEM) CEO Tom Palmer on Q1 2022 Results - Earnings Call Transcript

Newmont Corporation (NYSE:NEM) Q1 2022 Earnings Conference Call April 22, 2022 10:00 AM ET

Company Participants

Tom Palmer - President and Chief Executive Officer

Rob Atkinson - Executive Vice President and Chief Operating Officer

Nancy Buese - Executive Vice President and Chief Financial Officer

Conference Call Participants

Jackie Przybylowski - BMO Capital Markets

Josh Wolfson - RBC Capital Markets

Tanya Jakusconek - Scotiabank

Lawson Winder - Bank of America

Greg Barnes - TD Securities

Fahad Tariq - Credit Suisse

Anita Soni - CIBC World Markets

Adam Josephson - KeyBanc

Mike Parkin - National Bank

Cleve Rueckert - UBS

Michael Dudas - Vertical Research

Brian MacArthur - Raymond James

Operator

Good morning, and welcome to Newmont’s First Quarter 2022 Earnings Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. Please note, this event is being recorded.

I would now like to turn the conference over to Tom Palmer, President and Chief Executive Officer. Please go ahead.

Tom Palmer

Good morning, and thank you for joining Newmont’s first quarter 2022 earnings call. Today, I'm joined by Rob Atkinson and Nancy Buese, along with other members of our executive team. And we will be available to answer questions at the end of the call. Before I begin, please note our cautionary statement and refer to our SEC filings, which can be found on our website.

Newmont delivered on a challenging first quarter, as our operations and the mining industry as a whole, safely managed through the Omicron surge over the first three months of this year. As we emerge on the other side of this wave, Newmont remains well positioned to deliver solid performance in 2022, leveraging our scale and proven operating model to deliver long-term value from the world's best mining jurisdictions. The strength of our people and stability of our global portfolio, not only allows us to endure our short-term disruptions, it is the foundation of Newmont’s clear and consistent strategy to create value and improve lives through sustainable and responsible mining.

Turning to our quarterly results, let's take a look at the highlights. During the first quarter, Newmont produced 1.3 million ounces of gold and 350,000 gold equivalent ounces from copper, silver, lead and zinc. And despite challenges from the Omicron surge and the knock-on impacts from this global pandemic, we remain on track to achieve our full year guidance ranges as we build momentum for a strong second half.