Newmont Corporation Announced Results for Q3 2021

SEATTLE (Scrap Monster): Newmont Corporation announced third quarter 2021 results. The company delivered gold industry’s first autonomous haulage system (AHS) fleet. Furthermore, the company updated its full-year production guidance, in the wake of pandemic hit.

The company produced 1.45 million attributable ounces of gold and 315,000 attributable gold equivalent ounces from co-products. Newmont reported gold CAS of $830 per ounce and AISC of $1,120 per ounce. It generated $1.1 billion of cash from continuing operations and $735 million of free cash flow. Newmont ended the quarter with $4.6 billion of consolidated cash and $7.6 billion of liquidity.

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Newmont delivered the industry’s first AHS fleet system, thus leading to significant improvement to the safety and long-term productivity at Boddington. The company cut its annual gold production target by 500,000 ounces, citing disruption of operations on account of Covid-19 pandemic and other operational issues. It must be noted that the Tanami mine in Australia had been placed under care and maintenance.

Tom Palmer, President and CEO, Newmont said that the company delivered on a challenging third quarter performance, building momentum for a strong Q4.