Tom Palmer Signs Off Newcrest Divestitures Deal Strategy and the Road Ahead

In his final interview as CEO of Newmont, Tom Palmer sits down with Kitco Mining’s Paul Harris to reflect on the decade that reshaped the world’s largest gold producer—and to lay out what comes next for the industry. Stepping down on December 31, Palmer leaves behind a company transformed by the Goldcorp integration, the COVID shock, historic cost inflation, and the landmark Newcrest acquisition.

Palmer says the Newmont he hands to incoming CEO Natasha is fundamentally stronger, with 12 managed operations anchored by long-life ore bodies that support 20- to 30-year planning horizons. He details how Newmont outperformed expectations on divestitures, returned more than $2.7 billion to shareholders this year, and built a portfolio engineered to deliver durable free cash flow across the gold price cycle.

The conversation also turns to the return of generalist investors, the need for capital discipline as gold trades near record levels, and how consolidation, digital gold, and new entrants like Tether could reshape the sector in 2026. As Palmer transitions into an advisory role, he shares his candid view on what the global gold industry must do next to earn investor trust and sustain value creation.

This is a must-watch, end-of-era interview for anyone following gold mining leadership, M&A, capital returns, and the future direction of the precious metals sector.

00:27 – Tom Palmer’s Tenure and Leadership at Newmont
01:48 – Newmont’s Strength, Portfolio Quality, and Long Life Assets
04:32 – Why Tom Palmer Is Stepping Down as CEO
05:50 – Divestitures, Newcrest Strategy, and Capital Returns
10:21 – Investor Expectations, Guidance, and Free Cash Flow Discipline
17:56 – Gold Industry Trends, Consolidation, and Digital Gold
21:44 – Palmer’s Next Chapter and Life After Newmont
23:56 – Final Reflections and Farewell
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