Top U.S. gold miner Newmont Mining Corp. has reported a Q3 production decrease to 1.15 million gold oz, down from 1.28 million year-on-year with 13,700 copper tons, 15,500 less during the same year period; continuing operations, meanwhile, netted $210 million, down from $419 million.

Nonetheless, in guidance terms, “we remain on track,” CEO Gary Goldberg said in a statement. September’s 2014 forecast included 5 million gold oz and up to 90,000 copper tons; company cost-cuts and layoffs continued following gold’s 30% slump since 2011.

In late September, copper concentrate shipments resumed from Indonesia, with the end of a suspension at Batu Hijau that began in Q1 after the government imposed steep taxes; the Colorado-based firm called the tariff a contractual violation.

Startup at Ghana’s Akyem project beginning Q4 2013 partly offset lower U.S. production from stripping at the Carlin and Twin Creeks operations through 2015; Australian output, on the other hand, fell following the Q3 Jundee complex sale and lower grades at Tanami.

Resource Center Whitepapers, Videos, Case Studies

Let's stay in touch!

All of the latest mining news and our digital edition sent to your inbox once a week.

We'll never share your email address, and you can opt out at any time, we promise.