Newmont Mining making progress with Carlin operations, Barclays says

|About: Newmont Mining Corporation ... (NEM)|By:, SA News Editor

Barclays comes away from a visit to Newmont Mining's (NEM -0.6%) Carlin complex in Nevada expecting an increase in the current production rate of 830K-910K oz./year with upside coming in 2015 due to increasing grades, plus an update on the progress of construction at the Turf vent shaft which is ~61% complete and on schedule.

NEM says the operations at Carlin showed well overall and believes there could be upside to production at the complex starting in H2 2015 and into 2016.

NEM’s ore sourcing and linear processing scheme at Carlin is material given Carlin represents 17%-20% of NEM’s total annual production.