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Newmont Mining cuts full-year copper production outlook

  • Newmont Mining (NEM) reports preliminary Q3 attributable gold and copper production of 1.283M oz. and 34M lbs., as production was positively impacted by increased mill throughput in Nevada and higher grades and increased mining productivity as a result of efficiency improvements at Tanami in Australia.
  • NEM continues to expect FY 2013 attributable gold production of 4.8M-5.1M oz. but lowers its attributable copper production outlook to 135M-145M lbs. from 150M-170M lbs.; copper production is revised due to lower than expected mill throughput at Boddington and lower than expected ore grade processed at Batu Hijau.
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Comments (1)
  • sethmcs
    , contributor
    Comments (3461) | Send Message
     
    NEM is building gold inventory. Must believe the prices are going higher.
    11 Oct 2013, 02:23 AM Reply Like
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