bullish
Newmont - Translating size into profitability
SUMMARY
Newmont has reinstated production and cost guidance for FY20 57 days after it withdrew it. All told, COVID-19 appears likely to cost the company c 6% of its attributable production (or 0.4Moz) at cash and all-in sustaining (AISC) costs US$25/oz and US$40/oz higher than previously estimated at US$775/oz and US$1,015/oz, respectively. However, it will also defer or defray US$300m in capex. Of 12 mines and two joint ventures, 13 are now expected to be fully operational within a matter of weeks.
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- Newmont - Translating size into profitability22 May 2020
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