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Newmont Gold Sees 2020 Gold Production Of 6.4M, Sees Longer-Term Production 6.2M-6.7M Through 2024; CAS Guidance Unchanged At $750/oz In 2020

Following the divestiture of KCGM, the Company is updating its 2020 guidance and long-term outlook1. Attributable gold production2: Production guidance is expected to be 6.4 million ounces for

Benzinga · 01/02/2020 22:11

Following the divestiture of KCGM, the Company is updating its 2020 guidance and long-term outlook1.

  • Attributable gold production2: Production guidance is expected to be 6.4 million ounces for 2020 and between 6.2 and 6.7 million ounces longer-term through 2024.
  • Gold costs applicable to sales (CAS):CAS guidance is unchanged at $750 per ounce for 2020 and between $650 and $750 per ounce for 2021 and 2022; CAS is expected to be between $600 and $700 per ounce for 2023 and 2024.
  • Gold all-in sustaining costs3(AISC): AISC guidance is unchanged at $975 per ounce for 2020 and between $850 and $950 per ounce for 2021 and 2022; AISC is expected to be between $800 and $900 per ounce for 2023 and 2024.
  • Capital: Attributable sustaining capital guidance has been lowered to $950 million for 2020 and between $0.9 to $1.1 billion longer-term through 2024.
  • Consolidated expense outlook: The 2020 outlook for general & administrative costs is unchanged at $265 million, depreciation and amortization has been lowered to $2,125 million, and investment in exploration and advanced projects has decreased to $450 million. Outlook for interest expense and adjusted tax rate remains unchanged.