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Article: Peru : Newmont posts record Q3 financials, Yanacocha output up 26%.
- Article from:
- TendersInfo
- Article date:
- November 2, 2009
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Byline: pinto03
US-based Newmont Mining (NYSE: NEM) reported its 51.3% owned Yanacocha gold mine in Peru contributed 285,000oz to its yellow metal sales in the third quarter of 2009, better than expected thanks to higher grades, throughput and leach pad production.
Equity gold sales from Yanacocha in 3Q08 amounted to 225,000oz, Newmont said in a statement.
Total sales from the mine in this year's third quarter rose to 554,000oz from 438,000oz. Peru's Buenaventura (NYSE: BVN) owns 43.7% of Yanacocha.
Costs applicable to sales shrank to US$294/oz from US$362/oz thanks to increased physical sales, partially offset by lower copper ...