Is There A Risk Hiding In Newmont Stock's Strong Cash Flow?

Newmont (NEM) produced $2.2 billion of free cash flow in the second quarter of 2026. Higher gold prices fed through to margins, yielding the company's highest free cash flow for any second quarter. Behind that cash sits an expense investors should watch: what Newmont spends to keep its mines running. Management expects this bill to rise in the second half of the year. So what is pushing that bill up.