INVESTMENTS

3 Months Ended

Mar. 31, 2023

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS

INVESTMENTS

	At March 31, 2023		At December 31, 2022
Time deposits and other investments:
Time deposits and other (1)	$	815	$	846
Marketable equity securities	32		34
	$	847	$	880
Non-current investments:
Marketable equity securities	$	267	$	226
Equity method investments:
Pueblo Viejo Mine (40.0%)	$	1,466	$	1,435
NuevaUnión Project (50.0%)	960		956
Norte Abierto Project (50.0%)	523		518
Maverix Metals, Inc. (—% and 28.5%, respectively) (2)	—		143
	2,949		3,052
	$	3,216	$	3,278
Non-current restricted investments: (3)
Marketable debt securities	$	26	$	27
Other assets	8		8
	$	34	$	35

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(1)At March 31, 2023 and December 31, 2022, Time deposits and other primarily includes time deposits with an original maturity of more than three months but less than one year of $797 and $829, respectively, and related accrued interest of $7 and $9, respectively.

(2)In January 2023, Maverix was fully acquired by Triple Flag. The Company's ownership interest in the newly combined company was subsequently sold in March 2023. Refer to "Maverix Metals, Inc." below for further information.

(3)Non-current restricted investments are legally pledged for purposes of settling reclamation and remediation obligations and are included in Other non-current assets. Refer to Note 5 for further information regarding these amounts.

Equity method investments

Income (loss) from the Company's equity method investments is recognized in Equity income (loss) of affiliates, which for the three months ended March 31, 2023 and March 31, 2022 primarily consists of income of $21 and $35, respectively, from the Pueblo Viejo mine.

See below for further information on the Company's equity method investments.

Pueblo Viejo

As of March 31, 2023 and December 31, 2022, the Company had outstanding shareholder loans to Pueblo Viejo of $374 and $356, with accrued interest of $4 and $8, respectively, included in the Pueblo Viejo equity method investment. Additionally, the Company has an unfunded commitment to Pueblo Viejo in the form of a revolving loan facility ("Revolving Facility"). There were no borrowings outstanding under the Revolving Facility as of March 31, 2023.

The Company purchases its portion (40%) of gold and silver produced from Pueblo Viejo at market price and resells those ounces to third parties. Total payments made to Pueblo Viejo for gold and silver purchased were $117 and $138 for the three months ended March 31, 2023 and March 31, 2022, respectively. These purchases, net of subsequent sales, are included in Other income (loss), net and the net amount is immaterial. There were no amounts due to or due from Pueblo Viejo for gold and silver purchases as of March 31, 2023 or December 31, 2022.

Maverix Metals, Inc.

In January 2023, Triple Flag acquired all of the issued and outstanding common shares of Maverix, resulting in Newmont holding a 7.5% ownership interest in the combined company. Prior to close, Newmont held 28.5% of Maverix’s outstanding common shares. In March 2023, the Company sold all of its common shares in Triple Flag. As a result, a net gain of $36 was recognized in the first quarter of 2023, which is included in Other income, net in the Condensed Consolidated Statement of Operations.