Boddington mine, Australia

An openpit mine situated in Australia.

Macmahon awarded mining contracts worth $90m

Contract miner Macmahon Holdings on Friday reported that it had been awarded $90-million worth of mining contracts, including work on diversified miner BHP Billiton’s Wheelarra mine. Under its contract with BHP, Macmahon would be responsible...

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...

Cyclone season hits Australia’s March quarter gold output

Australian gold production fell by 7% during the March quarter, as cyclonic rains dislocated mining operations, industry consultant Surbiton Associates said over the weekend. During the three months to the end of March, Australian gold production...

Gold output hit record in 2010, may rise further – GFMS

Global gold production is expected to increase in the short-term, but it would then decline as fewer and fewer large discoveries were being made, precious metals consultancy firm GFMS World Gold MD Paul Burton said on Wednesday. He said at a...

Gold mine output hits record in 2010; scrap fell despite price gains – GFMS

Gold supply from mines rose to about 2 652 t in 2010, a “significant” increase of 2,7% year-on-year, and a new all-time high, metals consultancy GFMS said on Thursday. The increase represents the second year of production gains (output rose...

Indonesia deposit could be bigger than Batu Hijau – Newmont

The Elang copper/gold deposit in Indonesia, for which Newmont Mining and its partners received exploration permits in September, could turn out to be bigger than the huge Batu Hijau mine, Newmont CEO Richard O'Brien said on Tuesday. Elang is...

Newmont earnings jump 38%

Colorado-based Newmont Mining earned $537-million in the third quarter, an increase of 38% compared with a year earlier, helped by higher gold and copper prices and increased sales volumes of both metals. However, the company raised its cost...

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...

Australia’s commodity earnings to rise to A$202bn in 2010/11 – report

The value of Australia’s commodity exports, underpinned primarily by mined commodities, is forecast to be around A$202,5-billion in 2010/11, an increase of 23,4% from an estimated A$164,1-billion in 2009/10, the Australian Bureau of Agricultural...

Newmont downplays dealmaking potential, bullish on gold and copper

Newmont Mining, the world's second biggest gold producer by output, would rather spend money on its own projects than on acquisitions, CEO Richard O'Brien said on Tuesday. "We are finding some interesting opportunities internally, that's where...

Newmont Q1 profit jumps as higher price swells margins

Newmont Mining earned $546-million in the first quarter of this year, an increase of 192% from net income of $189-million a year earlier, buoyed by strong gold prices and higher output. The top US gold-miner, and second biggest in the world by...