Newmont stock advances Red Chris while Tanami timeline accelerates

Newmont said on October 22, 2026, that it is nearing a full-funds decision for the Red Chris Block Cave project in British Columbia and has brought forward commercial production at Tanami Expansion 2 in Australia. The Northern Miner reported the project details after Newmont's third-quarter results and analyst call.

Red Chris moves toward funding

Newmont's feasibility study for the copper-gold expansion is nearing completion, with an investment decision expected early in 2027, subject to board approvals. Construction could begin in 2027, while commercial production is targeted for 2033.

The initial development carries estimated capital of 4.2 billion to 4.8 billion US dollars, including contingency and excluding the cost of transitioning from open-pit to underground mining. Newmont owns 70 percent of Red Chris and operates the mine with Imperial Metals. The initial stage is expected to produce an annual average of 275,000 to 325,000 ounces of gold and 65,000 to 85,000 tonnes of copper from 2035 through 2040.

Management has redesigned and enlarged the underground cave after gaining a better understanding of the site's geology. Engineering is at least 60 percent complete, and the company says the first stage could produce 3 million ounces of gold and more than 850,000 tonnes of copper. Further areas could extend the mine life, but they are not included in the initial investment plan.

Tanami timetable moves forward

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, compared with the earlier 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 has an estimated cost of 1.7 billion to 1.8 billion US dollars. Newmont expects commissioning to begin early next year, with the deeper mining areas becoming more accessible as the project ramps up. The company expects Tanami to return toward previous performance levels by 2028.

Spending and operating trade-offs

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 the increase, while Lihir's Nearshore Barrier project also contributes. The final spending profile will become clearer with the Red Chris decision.

The growth plans come alongside mixed operating signals. Newmont cut its 2026 gold all-in sustaining cost forecast, after by-product credits, to 1,520 US dollars per ounce from 1,680 US dollars, while maintaining production guidance of about 5.3 million ounces. The company also warned that water conditions at Lihir could pressure fourth-quarter production and costs if El Nino conditions intensify.

The real-time quote of Newmont stock was 97.56 euros on Lang & Schwarz at 11:48 CEST on Friday, October 30, 2026, 2.17 percent below the Xetra close of Thursday, October 29.

Newmont stock is therefore balancing a clearer medium-term production pipeline against higher development commitments and project execution risk. The early-2027 Red Chris funding decision and Tanami commissioning progress are the next major milestones for investors.

US equity markets remain the relevant broader market setting for Newmont, alongside gold and copper prices. See current market reports.

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