Newmont stock faces higher 2027 spending as growth projects advance

Newmont Corporation is entering a more capital-intensive phase as Tanami Expansion 2 and the Red Chris Block Cave project move toward key 2027 decisions. The company expects attributable gold production to return to growth next year, while development capital rises to support its project pipeline.

Newmont stock traded at 102.99 euros on Lang & Schwarz at 16:32 CET on Thursday, November 12, 2026. That was 2.10 percent below the 105.20-euro quote cited in the latest own report at 13:19 CET the same day; this comparison is separate from the Xetra daily close.

Capital Spending Moves Higher

In its third-quarter release dated October 22, Newmont said 2027 development capital should increase by approximately 500 million US dollars from 2026. The increase is expected to fund construction work at the Lihir Nearshore Barrier and Red Chris, subject to the required investment decision. About 200 million US dollars should be offset as spending on Yanacocha water-treatment plants declines.

The spending plan raises the importance of execution and metal prices for the portfolio. Newmont said sustaining capital should remain broadly in line with 2026, while development investment is directed toward projects intended to support longer-term production.

Tanami and Red Chris Milestones

At Tanami Expansion 2 in Australia, shaft construction was completed by the end of the third quarter. Commercial production is now expected toward the end of the first half of 2027, earlier than previously anticipated. Newmont expects attributable gold production to increase by a low-to-mid single-digit percentage compared with 2026.

At Red Chris in British Columbia, the feasibility study is nearing completion. Newmont owns 70 percent of the joint venture and expects a full-funds investment decision in early 2027, subject to governance approval. Construction could start in 2027, with commercial production targeted for 2033.

The company estimates Red Chris development capital at 4.2 billion to 4.8 billion US dollars on a 100 percent basis, net of an anticipated 500 million Canadian dollar contribution from the Canadian government. The project is designed to produce 3.0 million ounces of gold and more than 850 thousand tonnes of copper over its initial 13-year cave life.

Mining shares remain sensitive to bullion prices, operating costs and capital discipline. The broader S&P 500 provides the relevant US market backdrop.

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