- Write by:
-
Monday, February 22, 2021 - 11:50:14 AM
-
123 Visit
-
Print
Mining News Pro - Newmont expects to produce over 1.3 million ounces of gold from its Australian operations this year, with the Boddington gold mine in Western Australia as the top contributor.
Zoom:
The company is targeting production of 830,000 ounces at Boddington, with the remaining 500,000 ounces to be delivered at the Tanami gold operation in the Northern Territory.
Newmont approved the Tanami expansion two project last year to boost production to 3.5 million tonnes a year.
The increase will be staged by around 150,000-200,000 ounces a year over the first five years from 2024.
Aside from this improvement, Newmont has continued to progress autonomous haulage system at Boddington.
This led to a 10 per cent increase in Newmont’s all-in-sustaining cost for the fourth quarter of 2020 to $US1043 ($1323.5) an ounce from the prior year.
Newmont’s group attributable production also slid by 11 per cent during the quarter to 1.63 million ounces following the sale of its interest in the Super Pit in Western Australia and the Red Lake mine in Canada.
This didn’t prevent the company from generating a record $US4.9 billion of cash from its operations last year while delivering nearly six million attributable ounces.
“In 2020, Newmont achieved record performance including $US3.6 billion of free cash flow and ending the year with over $US5.5 billion of consolidated cash. These results enable Newmont to lead the industry in shareholder returns, invest in organic growth and maintain financial flexibility,” Newmont president and chief executive Tom Palmer said.
Related News
Mining News Pro - Gold continued its slump on Friday, falling to its lowest in eight months, as brighter economic outlook and inflation fears propped up US Treasury ...
Mining News Pro - Eldorado Gold has bolstered its gold production by 34% to 528 874 oz in 2020, achieving the guidance that it has set out for the year, despite the ...
Mining News Pro - Scottish gold miner Scotgold CEO Richard Gray will retire as CEO of the company at the end of March and will hand over the reins to investment ...
Mining News Pro - Endeavour Mining has increased its guidance for 2021 to include production from the recently integrated Sabodala-Massawa and Wahgnion mines, ...
Mining News Pro - Coronado Resources is expecting demand from international markets for its metallurgical coal will climb 14 per cent by 2030.
Mining News Pro - AngloGold Ashanti and Atlas Iron have awarded entertainment contracts to Swift Media for their Western Australian mine villages.
Mining News Pro - MACA has won its third contract in four years with Ramelius Resources, this time at the Tampia gold project in Western Australia.
Mining News Pro - Kirkland Lake Gold has felt the impact of Victoria’s gold royalty, with its all-in sustaining costs at the Fosterville mine increasing by 7 per ...
Mining News Pro - Gold extended its decline on Thursday, heading towards a second straight monthly drop, as surging bond yields eroded the metal’s appeal to ...