Artem Voloskovets
The company is advancing its Red Chris Block Cave project in British Columbia, with a full-funds investment decision targeted for early 2027.
Newmont Gold Production: Quarterly Performance
Newmont's production declined from 1.899 million ounces in Q4 2024 to approximately 1.30 million ounces in Q3 2026, a decrease of 31.5%.
Figure 5. Newmont Gold Production, Q2 2023–Q1 2026. Bars show production in thousands of ounces; the line represents year-over-year percentage changes. Source: Company data, supplied chart. Q2–Q3 2026 are included separately in the table.
The historical chart shows the strongest quarterly production in Q4 2024. Output subsequently declined throughout 2025 before stabilizing near 1.30 million ounces in 2026.
Red Chris Block Cave: Technical Specifications
Newmont is developing the Red Chris underground copper-gold project in British Columbia, Canada.
| Parameter | Specification |
| Ownership | Newmont 70%, Imperial Metals 30% |
| Mining method | Underground block caving |
| Processing capacity | 15 million tonnes/year |
| Development capital | $4.2–$4.8 billion |
| Initial cave operating life | 13 years |
| First-phase gold production | 3.0 million oz |
| First-phase copper production | Over 850,000 tonnes |
| Commercial production target | 2033 |
| Investment decision | Early 2027 |
During the projected 2035–2040 production period, Red Chris is expected to produce annually:
- Gold: 275,000–325,000 ounces.
- Copper: 65,000–85,000 tonnes.
These figures are project estimates on a 100% ownership basis, not Newmont-attributable production.
Red Chris: Previous Plan vs. Q3 2026 Update
| Metric | Previous plan | Updated outlook |
| Investment decision | 2026 | Early 2027 |
| Feasibility study | In progress | Near completion |
| Processing capacity | Expansion planned | 15 Mtpa |
| Development capital | Preliminary estimates | $4.2–$4.8 billion |
| Commercial production | Long-term target | 2033 |
Red Chris received key regulatory approvals in June 2026. The project also secured an announced CAD$500 million Canadian government funding commitment, subject to final arrangements.
Newmont Q3 2026 Financial Results
| Metric | Q3 2026 |
| Attributable gold production | 1.30 Moz |
| Silver production | 11 Moz |
| Copper production | 23,000 tonnes |
| Adjusted net income | $2.3 billion |
| Free cash flow | $1.9 billion |
| Gold AISC | $1,454/oz |
| Gold AISC, Q2 2026 | $1,621/oz |
| 2026 gold production guidance | 5.3 Moz |
Gold all-in sustaining costs decreased approximately 10.3% quarter-over-quarter, despite largely unchanged production.
Outlook
Newmont maintains its 2026 gold production guidance of approximately 5.3 million ounces and expects stronger production in Q4.
The next major milestone for Red Chris is the early 2027 full-funds investment decision. If approved, the project is targeting commercial production in 2033, adding significant long-term gold and copper capacity to Newmont's portfolio.
Artem Voloskovets
