• Newmont average gross margin for 2023 was 43.6%, a 12.77% increase from 2022.
• Newmont average gross margin for 2022 was 49.98%, a 12.88% decline from 2021.
• Newmont average gross margin for 2021 was 57.37%, a 10.26% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.