Newmont Corp. (NYSE:NEM)

Total sales exhibited a growth trajectory between 2019 and 2021, followed by a period of marginal contraction and stabilization through 2023. Aggregate revenue increased from US$ 9,740 million in 2019 to a peak of US$ 12,222 million in 2021, before settling at US$ 11,812 million by the end of 2023.

Gold Sales from Doré Production

Revenue from doré production serves as the primary and most stable revenue stream. This segment grew from US$ 7,975 million in 2019 to US$ 8,781 million in 2023. Although a slight decline occurred in 2022, the overall five-year trend is positive, with the 2023 figures representing the highest value in the period analyzed.

Sales from Concentrate and Other Production

This segment demonstrated significant volatility characterized by a rapid ascent followed by a steady decline. Sales rose sharply from US$ 1,765 million in 2019 to a peak of US$ 3,732 million in 2021. Subsequently, a downward trend was observed, with revenues decreasing to US$ 3,031 million by 2023.

Revenue Composition and Aggregate Trend

The expansion of total sales from 2019 to 2021 was primarily driven by the substantial growth in concentrate and other production sales. Conversely, the stabilization of total revenue in 2022 and 2023 is marked by a divergence in performance: the growth in doré production sales helped mitigate the impact of the declining revenues from the concentrate and other production segment.