Newmont Targets to Hit 7.5 Million Gold Equivalent Ounces Next Year

SEATTLE (Scrap Monster): Denver-based Newmont Corporation announced its 2022 outlook. The outlook reflects increasing gold production and promising growth prospects amidst increased investment in operating assets.

The company declared attributable gold production guidance of 6.2 million ounces in 2022 and all-in sustaining costs (AISC) of $1,050 per ounce. The total gold production combined with other metals is expected to be 7.5 million gold equivalent ounces during the next year. Over the coming years, it foresees declining costs, mainly as a result of investments aimed at boosting lower-cost production.

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Newmont expects annualized $1.00 per share sustainable base dividend with an annualized dividend of $2.20 per share at current metal prices. It must be noted that the company is on track to return more than $2 billion to shareholders in 2021.

Tom Palmer, President and Chief Executive Officer, Newmont stated that the company’s outlook remains strong as it targets to steadily boost production and improve costs. The robust gold production guidance demonstrates the strength of its operations and proven operating model. The company is about to enter a period of significant investment in its organic project pipeline, Palmer added.