Tom Palmer

Tom Palmer leads Newmont Corporation, the world's largest gold mining company by production and mineral reserves. The 2023 acquisition of Newcrest Mining for $17 billion made Newmont the undisputed industry leader, with operations spanning the Americas (Nevada, Suriname, Peru, Argentina), Africa (Ghana, Tanzania), Australia, and Papua New Guinea. The combined company produces over 6 million ounces of gold annually and holds the world's largest gold reserve base. Gold has reached record prices exceeding $2,400 per ounce, driven by central bank buying (particularly from China, India, and other non-Western nations seeking to diversify away from the US dollar), geopolitical uncertainty, and inflation hedging demand. As the largest producer, Newmont is the most levered major beneficiary of rising gold prices — every $100 increase in gold price translates to approximately $600 million in additional annual revenue. Palmer's execution on the Newcrest integration, production cost management (all-in sustaining costs), portfolio optimization through non-core asset divestitures, and the return of excess cash to shareholders are the primary drivers of the stock.