May 19, 2020 / 1:52 PM / 13 days ago

Miner Newmont expects higher costs, lowers 2020 capex on COVID-19 impact

May 19 (Reuters) - Newmont Corp said on Tuesday it expects costs to rise in 2020 as some of its operations are in care-and-maintenance mode, and the miner also cut its spending budget for the year due to reduction in non-essential activities.

The company now expects 2020 consolidated gold all-in sustaining costs to be $1,015 per ounce compared with its earlier expectations of $975 per ounce.

Newmont expects total 2020 capital expenditure at about $1.3 billion.

Reporting by Arundhati Sarkar in Bengaluru; Editing by Vinay Dwivedi

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below