Newmont stock slips 2.89% as Red Chris pipeline advances

Newmont stock traded at 94.74 euros on Lang & Schwarz at 16:40 CEST on Friday, October 30, 2026. That was 2.89 percent below the 97.56 euros recorded at 11:48 CEST in the latest relevant report on the same day.

Newmont said in its October 22 release that it is advancing the Red Chris Block Cave project in British Columbia toward a full-funds investment decision in early 2027. Construction could begin in 2027, while commercial production is targeted for 2033, subject to approval.

Red Chris adds long-term growth potential

The project is designed to produce 3 million ounces of gold and more than 850,000 tonnes of copper during its initial development phase. Newmont estimates development capital at 4.2 billion to 4.8 billion US dollars on a 100 percent basis, including contingency and excluding the transition from open-pit to underground mining.

Newmont owns 70 percent of Red Chris and operates the mine with Imperial Metals. Engineering is at least 60 percent complete, while the company has enlarged and redesigned the underground cave after improving its understanding of the geology. The scale of the project gives investors a possible production extension, but the funding decision and construction schedule remain important execution points.

Tanami moves toward commissioning

At Tanami Expansion 2 in Australia's Northern Territory, shaft construction is complete and mechanical completion is expected by the end of 2026. Commercial production is now targeted for the end of June 2027, earlier than the previous second-half 2027 timetable.

The 1,460-metre hoisting shaft and related infrastructure are intended to improve underground productivity and extend the mine's life beyond 2040. The expansion is estimated to cost 1.7 billion to 1.8 billion US dollars, with commissioning expected to begin early next year.

Newmont expects development spending in 2027 to rise by about 500 million US dollars from this year's 1.4 billion US dollar budget. Red Chris is expected to account for roughly half of that increase, while the Lihir Nearshore Barrier project also contributes. The combination of a clearer growth pipeline and higher investment commitments leaves project execution and capital discipline as the next major issues for investors.

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