Newmont (NEM) generated $2.2 billion of free cash flow in Q2 2026, its highest for any second quarter, as higher gold prices lifted margins. Sustaining spending on its mines is planned to rise in the second half, with about 58% of 2026 sustaining spending falling in that period, tied to key programs at Boddington and Cadia. Newmont spent $438 million on sustaining and $285 million on new projects in Q2, and expects 63% of its 2026 development spending in the second half. Management said the Red Chris project may cost more than Newcrest's original estimates, on top of the $1.4 billion 2026 development guidance, with a funding decision due later in 2026 or early 2027. Newmont ended Q2 with $3.4 billion of net cash, modestly above its target range of $1 billion ±$2 billion, and the article treats the rising bill as a risk to weigh rather than an alarm.
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