Reports related to this article:
Project(s): View 1 related project in PECWeb
Plant(s): View 1 related plant in PECWeb
en
Researched by Industrial Info Resources (Sugar Land, Texas)--Newmont Mining Corporation (NYSE:NEM) (Denver, Colorado) has beefed up its gold production guidance for 2018, while improving its costs forecasts. The company's capital expenditures forecast for 2018 remains the same, but it is slightly more than the numbers for 2017.
Newmont Mining, which operates in the Americas as well as Africa and Australia, increased its attributable gold production guidance for 2018 to between 4.9 million and 5.4 million ounces, compared with its previous 2018 guidance of between 4.7 million ounces and 5.2 million ounces. Its guidance for 2017 was between 5.0 million ounces and 5.5 million ounces as of October. The company said in a December 6 press release that it expects gold production to remain between 4.9 million and 5.4 million ounces in 2019, and that longer term production is expected to remain stable at between 4.6 million and 5.1 million ounces per year through 2022.
North American gold production is expected to be between 2.0 million and 2.2 million ounces in 2018, with production declining slightly in 2019 to between 1.8 million and 2.0 million ounces, and then increasing to between 1.9 and 2.1 million ounces in 2020.
Attributable copper production is expected to remain between 40,000 and 60,000 tons in 2018 and 2019, increasing to between 45,000 and 65,000 tons longer term through 2022.
Newmont Mining improved its 2018 guidance for gold costs applicable to sales (CAS) to between $700 and $750 per ounce, compared with its previous 2018 guidance of between $700 and $800 per ounce; CAS are expected to be between $620 and $720 per ounce for 2019 and between $650 and $750 per ounce longer term through 2022. The company also lowered its guidance for gold all-in sustaining costs (AISC) from its previous guidance.
The company maintained its total capital guidance range for 2018 at between $900 million and $1 billion, up from its expected capital expenditures of between $890 million and $990 million in 2017. Capital expenditures are expected to be between $730 million and $830 million in 2019, and between $580 million and $680 million longer term through 2022.
Newmont Mining gave updates on multiple projects, including the $45 million Twin Underground project in northern Nevada. Commercial production at the portal mine beneath the Twin Creek's Vista surface mine is expected in mid-2018. The expansion is expected to average between 30,000 and 40,000 ounces per year for the first five years (2018 to 2022). For more information see Industrial Info's project report.
Industrial Info is tracking more than $7 billion in active Newmont Mining projects. For related information, see November 1, 2017, article - Newmont Mining Makes Progress on Expansion Projects.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
Newmont Mining, which operates in the Americas as well as Africa and Australia, increased its attributable gold production guidance for 2018 to between 4.9 million and 5.4 million ounces, compared with its previous 2018 guidance of between 4.7 million ounces and 5.2 million ounces. Its guidance for 2017 was between 5.0 million ounces and 5.5 million ounces as of October. The company said in a December 6 press release that it expects gold production to remain between 4.9 million and 5.4 million ounces in 2019, and that longer term production is expected to remain stable at between 4.6 million and 5.1 million ounces per year through 2022.
North American gold production is expected to be between 2.0 million and 2.2 million ounces in 2018, with production declining slightly in 2019 to between 1.8 million and 2.0 million ounces, and then increasing to between 1.9 and 2.1 million ounces in 2020.
Attributable copper production is expected to remain between 40,000 and 60,000 tons in 2018 and 2019, increasing to between 45,000 and 65,000 tons longer term through 2022.
Newmont Mining improved its 2018 guidance for gold costs applicable to sales (CAS) to between $700 and $750 per ounce, compared with its previous 2018 guidance of between $700 and $800 per ounce; CAS are expected to be between $620 and $720 per ounce for 2019 and between $650 and $750 per ounce longer term through 2022. The company also lowered its guidance for gold all-in sustaining costs (AISC) from its previous guidance.
The company maintained its total capital guidance range for 2018 at between $900 million and $1 billion, up from its expected capital expenditures of between $890 million and $990 million in 2017. Capital expenditures are expected to be between $730 million and $830 million in 2019, and between $580 million and $680 million longer term through 2022.
Newmont Mining gave updates on multiple projects, including the $45 million Twin Underground project in northern Nevada. Commercial production at the portal mine beneath the Twin Creek's Vista surface mine is expected in mid-2018. The expansion is expected to average between 30,000 and 40,000 ounces per year for the first five years (2018 to 2022). For more information see Industrial Info's project report.
Industrial Info is tracking more than $7 billion in active Newmont Mining projects. For related information, see November 1, 2017, article - Newmont Mining Makes Progress on Expansion Projects.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.
