Newmont Mining (NEM -0.9%) plans to cut workers and costs at its giant Indonesian copper and...

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

Newmont Mining (NEM -0.9%) plans to cut workers and costs at its giant Indonesian copper and gold mine as it loses $1M a day in cash flow because of low output that will continue through next year. NEM revises down 2012 target production figures for its Batu Hijau mine to 71K oz. of gold from an earlier forecast of 114K oz. and to 170M lbs. of copper from 192M.