Newmont Q3 Profit up 38%

4 November 2010 (Last Updated November 4th, 2010 18:30)

Newmont's profit has increased by 38% to $537m, compared with a $388m profit in the same period last year. The US gold producer reported quarterly revenue of $2.6bn for the third quarter of 2010, compared with $2bn in Q3 2009. Newmont said its gold production for 2010 will be

Newmont's profit has increased by 38% to $537m, compared with a $388m profit in the same period last year.

The US gold producer reported quarterly revenue of $2.6bn for the third quarter of 2010, compared with $2bn in Q3 2009.

Newmont said its gold production for 2010 will be between 5.3 million and 5.4 million ounces, compared with a previous prediction of 5.3 million to 5.5 million ounces.

It has also lowered its full-year production forecast for Boddington mine in Australia to between 700,000oz and 750,000oz, from 750,000oz to 825,000oz.