Precious Metals

Newmont mining focuses on production growth

Newmont Mining projects to expand its gold production in 2019.

Images courtesy of Newmont Mining.

Colorado-based gold miner Newmont Mining expects its North American operations in Colorado and Nevada, which account for 40 percent of the firm’s overall output, will drive the company’s overall performance for 2019.

Companywide, gold production is anticipated to total 5.2 million troy ounces at all-in sustainable costs of $935 per ounce.

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The mining concern suggests 2020 production could total 4.9 million ounces, with all-in sustainable costs of $975 per ounce. Longer term, production is expected to range, during 2021 through 2023, to between 4.4 million and 4.9 million ounces annually, at all in sustainable costs between $875 and $975 per ounce.

Of the 2019 total projection, 1.9 million ounces is expected to be mined at Newmont’s North American facilities as it pursues additional production possibilities in Colorado, Nevada and Arizona.

Its South America production is expected to be 650,000 ounces in 2019, and is expected to decrease to 560,000 ounces in 2020 and 450,000 ounces in 2021.

Its Australia production is expected to be 1.5 million ounces in 2019 and 1.5 million ounces in 2020 and 1.6 million ounces in 2021, according to Newmont Mining.

Africa production is targeted at 1.1 million ounces in 2019, 930,000 ounces in 2020 and 1 million ounces in 2021.

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