Newmont Mining Corp. has announced its improved 2018 outlook, increasing attributable gold production guidance to between 4.9 and 5.4 million oz and improving all-in sustaining costs (AISC) to US$965 – US$1025/oz compared to previous 2018 guidance.
Attributable gold production is expected to improve between 4.9 and 5.4 million oz in 2018, compared to previous 2018 guidance mainly driven by Full Potential mine plan throughput and recovery improvements.
Production is expected to be between 4.9 and 5.4 million ounces in 2019 and longer term production is expected to remain stable at between 4.6 and 5.1 million oz/ year through 2022 excluding development projects which have yet to be approved.
Gold costs applicable to sales (CAS) is expected to improve between US$700 – US$750/oz compared to previous 2018 guidance following production increases in North America and Africa. CAS is expected to be between US$620 and US$720/oz for 2019 and between US$650 and US$750/oz longer term through 2022.
Total capital is expected to remain between US$900 – 1000 million for 2018 and increase in 2019 to US$730 – US$830 million compared to previous guidance with the addition of Quecher Main offset by sustaining capital savings across the portfolio.
President and CEO, Gary J. Goldberg said: “Our five-year guidance reflects steady performance, portfolio and balance sheet improvements, and gives us the means and confidence to target a dividend increase of at least 50% in 2018.”
“We expect to deliver steady gold production at competitive costs over the next five years, and to continue investing in margin and reserve growth. This commitment is backed by our proven strategy and track record and our differentiated technical and operating talent, project pipeline and global footprint.”