Newmont

After swallowing Australia's Newcrest in 2023, Newmont became by a wide margin the largest gold producer on the planet. The Denver company, incorporated in 1921, digs gold from mines across the Americas, Australia and Africa, and pulls copper, silver, zinc and lead as byproducts. Its economics are simple to describe and hard to control: revenue tracks the gold price, which Newmont cannot set, while costs run through diesel, labor, and the falling ore grades that come with aging mines. Management's job is to hold down all-in costs per ounce and return cash to shareholders when metal prices are high. The Newcrest deal added marquee assets but also debt and integration work, and the company has since sold off smaller mines to focus the portfolio on its largest, longest-lived operations. Gold's role as a safe-haven metal keeps the stock tied to macro fear.

On MyRWA, NEM trades tokenized across 4 on-chain venues - see the listings below.