PLS advances mid-stream push, posts record production

Newmont Corporation (ASX: NEM) has reported record quarterly free cash flow of US$3.1b and net income of US$3.3b for Q1 2026.  Attributable gold production decreased 10% from the prior quarter, driven by lower production at Boddington and Tanami.  The company produced 1.3moz of attributable gold, as well as 9moz of silver and 30,000t of copper during the quarter. Newmont says it is on track to meet full-year production guidance of 5.3moz gold.  Gold by-product all-in sustaining costs were US$1029/oz with Newmont citing favourable silver and copper by-product credits, ongoing cost and productivity initiatives and lower sustaining capital spend. Operating cash flow reached US$3.8b, while the company ended the quarter with $US8.8b in cash and US$12.8b in total liquidity. Newmont also expanded shareholder returns, declaring a quarterly dividend of US$.26/share and announcing an additional US$6b to double its share repurchase authorisation, following full execution of the previous program.  Newmont President and chief executive office Natascha Vilijoen said the result kept the company well positioned to deliver 2026 guidance while continuing to return capital and invest in long-life assets.  During the quarter, Newmont reported increased production at Cadia in New South Wales, with improved grades and throughput also supporting higher copper output. The company also flagged ongoing investment in Cadia and Boddington to support long-term production capacity.  Newmont said earnings from divestments further strengthened earnings, with the program generating over $4.6b in total after-tax proceeds to date.  

Lynas Rare Earths (ASX: LYC) is expecting production shortfalls at its Kalgoorlie processing facility in WA due to major power supply disruptions.

Yancoal (ASX: YAL) will acquire an 80% interest in the Kestrel coal mine as part of its acquisition of KCG.Kestrel, the largest producing underground coal mine in Australia, has a 25 year mine life underpinned by 164mt marketable coal reserves, according to Yancoal.Rio Tinto (ASX: RIO) previously held an 80% stake in the mine, which it sold in 2018 for US$2.25b.Yancoal chief executive Sharif Burra says the acquisition is a strong strategic fit for Yancoal, adding another high-quality, long-life mine to the company’s portfolio.“Kestrel delivers increased scale and diversification to Yancoal’s portfolio and is expected to contribute premium metallurgical coal into our product mix,” he said.“The acquisition positions us to deliver greater value to our shareholders and consolidates Yancoal’s position as a leading Australian coal miner.”On completion, Yancoal will pay an upfront cash consideration of $2.5b (US$1.85b) plus contingent cash consideration up to a maximum of $771m (US$550m) in total.Completion of the acquisition is targeted for the end of Q3 CY26.

Element 25 (ASX: E25) has secured commitments for an $18m share placement to fund the expansion of its Butcherbird manganese project in WA to 1.1mtpa of manganese oxide concentrate.This follows the June 2025 announcement that the Northern Australia Infrastructure Facility (NAIF) would support the project with a $50m investment.Element 25 managing director Justin Brown comments on the expansion.“Expanding Butcherbird is an important part of our strategy to sell manganese concentrate to steel industry partners as well as using it as feedstock in our plans to produce HPMSM,” he said.“We are pleased with the support from new and existing shareholders in this placement, particularly in light of the challenging market backdrop.”Under the placement, the company will issue 60 million fully paid ordinary shares at an issue price of $.30/share, representing a 9.1% discount to the last close price on April 8. The placement is expected to settle on April 22.