Newmont (NEM) Produced 1.24M Oz. of Gold, 35 lbs of Copper in Q3
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Newmont Mining Corporation (NYSE: NEM) reported preliminary third quarter attributable gold and copper production of 1.24 million ounces and 35 million pounds, respectively. Preliminary attributable gold and copper sales were 1.21 million ounces and 38 million pounds, respectively, at average realized prices of approximately $1,659 per ounce of gold and $3.54 per pound of copper. The London PM Fix average gold price for the quarter was $1,652 per ounce. Third quarter production was impacted by lower mill availability and recoveries at Boddington, and lower ore tonnes and grade mined at Tanami in Australia.
The Company is also expecting a $27 million charge for Hope Bay care and maintenance and a charge of approximately $50 million for restructuring, severance, and related costs in Other Expense for the quarter.
The Company is also expecting a $27 million charge for Hope Bay care and maintenance and a charge of approximately $50 million for restructuring, severance, and related costs in Other Expense for the quarter.
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