Batu Hijau mine, Indonesia

An openpit mine situated in Indonesia.

Newmont adj earnings up 18%

Newmont Mining, the second-biggest gold miner by production, earned $445-million in the second quarter, 18% higher compared with a year earlier, after higher gold and copper prices offset lower production and increased costs. Company revenue rose...

Newmont profit helped by prices

Newmont Mining, the second-biggest gold producer by production, increased first-quarter adjusted net income by 26% year-on-year, boosted by higher prices for both gold and copper. The company reported adjusted profit of $513-million, compared...

Focus will shift to cash flow with gold costs less comparable – Newmont

The market will likely start focusing more on cash flow as a way to assess gold mining companies, as new accounting standards in some jurisdictions make it difficult to compare other metrics like cash costs, Newmont Mining CFO Russell Ball said on...

Newmont earnings surge, raises dividend

Colorado-based Newmont Mining earned $382-million in the second quarter, an increase of 135% from a year earlier, after production and metals prices rose. Profit came in below average analyst expectations for the period though, according to...

Newmont, Sumitomo sell another 7% of Batu Hijau

Colorado-based Newmont Mining and partner Sumitomo Corp have sold another 7% of the company that owns their Batu Hijau copper/gold mine in Indonesia to local entities. PT Multi Daerah Bersaing (PTMDB), a consortium owned by regional and local...

Newmont sells 10% of Batu Hijau, extends deadline for rest

Colorado-based Newmont Mining and partner Sumitomo Corporation have completed the sale of 10% in their Batu Hijau copper/gold mine, in Indonesia. Newmont's ownership in PT Newmont Nusa Tenggara (PTNNT), which owns the Batu Hijau mine has now been...

Newmont negotiating with Indonesia govt as divestiture deadline looms

Newmont Mining continues to hold talks with the government of Indonesia, ahead of a November 12 deadline for the sale of a total of 24% of the Batu Hijau copper/gold mine, CEO Richard O'Brien said on Thursday. The company understands that the...

Newmont halts mining at Batu Hijau after partial slope failure

Operations have been temporarily suspended at the Batu Hijau openpit copper/gold mine, in Indonesia, Newmont Mining reported on Tuesday. A geotechnical failure was experienced in the west wall of the pit at the weekend, and operations in the Batu...

Newmont, Indonesia extend divestiture deadline

US bullion miner Newmont Mining has reached an agreement with the government of Indonesia to extend the cut-off date for the government to buy a series of stakes in Newmont's Batu Hijau gold/copper mine, CEO Richard O'Brien said on Wednesday....

Newmont taking steps towards selling Indonesia mine stake

Denver-based gold-miner Newmont Mining has been told by lenders that pledges will be lifted on shares that Newmont is required to sell in the company that owns the Batu Hijau mine, in Indonesia, CEO Richard O'Brien said on Thursday.

Newmont earnings fall on lower metals prices

Newmont Mining, the second-biggest gold miner by production, earned $189-million in the first quarter of 2009, a decline of 48% from net income of $365-million a year earlier. Profit was weighed by lower realised prices for its metals, and copper...