Newmont Reports Q3 Increase

2 November 2009 (Last Updated November 2nd, 2009 18:30)

Newmont Mining has reported a net income increase of $388m for the three months ending 30 September compared to $191m for the same period last year. Net income for the first nine months of the year was $739m compared to $827m for the corresponding period last year. Revenues fo

Newmont Mining has reported a net income increase of $388m for the three months ending 30 September compared to $191m for the same period last year.

Net income for the first nine months of the year was $739m compared to $827m for the corresponding period last year.

Revenues for Q3 2009 were $2.04bn compared to $1.37bn for Q3 2009.

Revenues for the first nine months of the year were $3.41bn compared to $3.5bn for the same period last year.

In Q3 2009, Newmont posted 1.33 million ounces of equity gold sales.

Higher than predicted sales at Indonesia's Batu Hijau, Peru's Yanacocha and Australia's Jundee were partly counterbalanced by lower than expected sales at Australia's Tanami.

Costs applicable to sales per ounce were higher than expected due to increased production.