Argentina , Peru , Suriname and Mexico

How much tax is Newmont paying in LatAm?

Bnamericas Published: Wednesday, August 24, 2022

Newmont, which has gold mining operations in Peru, Mexico, Suriname and Argentina, published its tax and royalty report, highlighting it contributed US$1.87bn globally to public coffers last year.

Tax payments represented 18.6% of Newmont's revenues, which reached US$10.1bn.

In Latin America, Newmont paid US$1.07bn and employed 5,400 direct workers.


Taxes and royalties totaled US$83mn. Newmont operates the Cerro Negro gold project, which generated revenues of US$480mn in 2021. According to the report, the contributions related to:

  • US$35mn in export duties;
  • US$22mn in government royalties (US$12mn in provincial royalties and US$10m in municipal ones);
  • US$13mn in taxes linked to workers (payroll and benefits tax);
  • $13mn in other taxes.


Payments reached US$670mn, the highest amount of all countries where Newmont has assets. Resources came from the Peñasquito mine, which generated US$2.63bn. The distribution was as follows:

  • US$439mn in corporate income taxes;
  • US$83mn in royalties from the special mining tax;
  • US$34mn for the environmental tax (Zacatecas state);
  • US$16mn in social security and housing funds for workers;
  • US$8mn of extraordinary tax on gold and silver sales;
  • US$11mn in other taxes.


Total taxation reached US$177mn, according to the report. Newmont operates the Yanacocha mine, which generated US$471mn, but losses accumulated as several stages of the mine have stopped production. The contributions were:

  • US$158mn in income taxes and royalties;
  • US$5mn in taxes on production;
  • US$4mn in taxes linked to workers (payroll and benefits);
  • US$10mn in other taxes and contributions to government entities.


Payments totaled US$137mn, all related to the Merian mine, which generated revenues of US$780mn. Taxes and royalties were distributed as follows:

  • US$79mn in corporate income taxes;
  • US$47mn in royalties;
  • US$10mn in taxes linked to workers (payroll and benefits);
  • US$1mn in tax withholding for service fees.

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