Newmont Goldcorp (NEM) Provides 2020 And Long-Term View
Zacks Investment Research | Dec 02, 2019 08:37PM ET
Newmont Goldcorp Corporation (NYSE:NEM) has provided its 2020 and long-term views.
The company expects attributable gold production of 6.7 million ounces for 2020. Gold production is projected in the range 6.5-7 million ounces in the long-term through 2024, which is expected to be supported by a steady base from Tanami, Boddington, Ahafo, Penasquito and the Nevada Gold Mines joint venture.
For 2020, gold costs applicable to sales (CAS) are expected to be $750 per ounce and all-in sustaining costs (AISC) are pegged at $975 per ounce. The company expects CAS and AISC to improve in the long term through 2024.
Attributable sustaining capital is projected at $975 million for 2020 and is likely to remain between $0.9 billion and $1.1 billion in the long term through 2024.
The company’s outlook highlights steady gold production and continued investment in operating assets as well as potential growth prospects.
Newmont Goldcorp also provided an update on the Tanami Expansion 2 (Australia) project. The company expects the expansion to boost average annual gold production by around 150,000-200,000 ounces per year for the first five years starting in 2023. This is likely to lower operating costs by nearly 10%. Moreover, the North America-based Musselwhite Materials Handling project is expected to be fully operational in mid-2020.
Newmont Goldcorp’s shares have gained 14.7% in the past year compared with 48.2% surge of the Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.