CAPITAL MARKETS

Newmont records tougher year

THE world’s largest gold miner Newmont Mining Corp has reported an 8.6% drop in net income for 2004 to $US434.5 million on the back of lower gold production and increased costs, and has warned of a tough year in 2005.

Rebecca Keenan
Newmont records tougher year

Newmont said it sold nearly 7 million ounces of gold in 2004 (7.4Moz in 2003) with total cash costs rising from $US203/oz to $US231/oz and total production costs going up to $US295/oz from $US266/oz. ...

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