World's Biggest Gold Miner Newmont Weighs Thousands Of Job Cuts As Cost Pressures Mount

Newmont Corporation (NYSE:NEM), the world’s largest gold producer, is reported to be evaluating significant cost-cutting measures that could result in thousands of job losses.

The review follows its $15 billion acquisition of Newcrest Mining Ltd. in 2023, which expanded its portfolio to about 20 mines and increased exposure to copper.

The gold miner has faced surging costs since the deal, with its all-in sustaining costs (AISC) per ounce, a key industry benchmark, hitting a record high earlier in 2025.

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While gold prices have reached historic levels, boosting Newmont shares by 95% this year, elevated operating costs have weighed on profit margins.

Citing people familiar with the matter, Bloomberg noted that Newmont is targeting cost reductions ...