Newmont delivers $3.2b in June quarter net income
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The news: Gold miner Newmont delivered USD2.2 billion ($3.2 billion) in June quarter income, down USD1.1 billion from the preceding quarter amid a decline in the average realised gold price and higher production costs.
The numbers: Average realised gold price fell from USD4,900 per ounce in the March quarter to USD4,414 per ounce in June. Meanwhile, all-in sustained costs were USD1,621 per ounce up from USD1,029 per ounce.
Newmont also said it is on track to deliver full year production guidance of 5.3 million gold ounces, with 1.3 million gold ounces produced in the June quarter.
The company also declared a dividend of 26 US cents during the period.
The context: Newmont said it has received “key regulatory approvals” from the Province of British Columbia for the Red Chris Block Cave project. This includes an Environmental Assessment Certificate with the consent of the Tahltan Nation first nations community as well as an amended Mines Act permit.
What they said: “Newmont delivered another quarter of strong operational and financial performance, producing approximately 1.3 million attributable gold ounces and generating record second quarter free cashflow of USD2.2 billion, while remaining on track to achieve our full-year 2026 guidance,” Newmont president and CEO Natascha Viljoen said.
The source: ASX
