Newmont - Translating size into profitability

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.