Tags: Newmont | Lower | Copper | Output

Newmont Sees Lower Copper Output in 2012

Tuesday, 17 Jan 2012 11:19 AM

 

Share:
A    A   |
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink
Newmont Mining Corp. said on Tuesday it produced less gold and copper in 2011 and the fourth quarter than a year earlier and forecast its 2012 copper production will fall short of last year's.

The Denver-based mining company, the world's second-largest gold producer, said preliminary results showed it produced 5.2 million ounces of gold and 206 million pounds of copper in 2011.

That compares with 5.4 million ounces of gold and 327 million pounds of copper produced in 2010.

In the fourth quarter of 2011, Newmont said it produced about 1.3 million ounces of gold and 48 million pounds of copper — down from 1.4 million ounces of gold and 74 million pounds of copper in the same quarter of 2010.

In November, Newmont said lower output in Nevada and higher costs at its Boddington mine in Australia could affect results.

Looking ahead, the company said it expects 2012 gold production of about 5.0 million to 5.2 million ounces and copper production of 150 million to 170 million pounds

It gave no reason for the lower copper target.

The company said it expects to invest about $3.0 billion to $3.3 billion in capital expenditure this year.

Newmont stock fell 0.9 percent to $62.80 in early trading on the New York Stock Exchange.

© 2014 Thomson/Reuters. All rights reserved.

Share:
   Email Us   |
   Print   |
   Forward Article  |
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

White House Won't Rule Out Sanctions on Putin Assets

Wednesday, 16 Apr 2014 14:59 PM

As tensions rise over the recent uprisings by pro-Russian forces in Ukraine, speculation is mounting over whether the Ob . . .

Census Data: 86M Workers Support 148M Govt Beneficiaries

Wednesday, 16 Apr 2014 14:48 PM

Over 86 million Americans work full time in the private sector and support almost 148 million who receive government ben . . .

Mark Nuckols: Sanctions 'Symbolic,' Don't Affect Majority in Russia

Wednesday, 16 Apr 2014 14:29 PM

Sanctions against Russia for its interference have fallen far short of having a meaningful impact and a more measured ap . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved