Gold companies enjoyed a lift from gold price gains on Wednesday, although some of that was given up Thursday with the release of positive US employment data.
Articles Tagged "NYSE:NEM"
Cost inflation, combined with a lower gold price, is forcing major producers to make some hard decisions.
Gold took a big hit mid-week when the US Federal Reserve suggested an end to quantitative easing, but the precious metal rallied on Thursday to regain some of the lost ground.
Reuters reported that Newmont Mining (NYSE:NEM)'s production for Q3 has fallen by 6%, and are facing a record-setting $77 Million in charges associated with maintenance and restructuring.
Gold prices have risen sharply but gold miners' shares haven't kept pace. Some argue the gap is set to close.
Bloomberg reported that Newmont Mining's (NYSE:NEM) Peru-based Conga gold project will require more spending.
Bloomberg reported that Newmont Mining (NYSE:NEM) is waiting for results of a state-commissioned review on its Peru-based Conga mine.
Bloomberg reported that Newmont Mining (NYSE:NEM) reported a quarterly loss, citing the writedown of its Hope Bay gold project.
With gold prices climbing ever higher and a new regime in place, Haiti may finally be able to realize its gold potential, but risks still remain.
Reuters reported that Q3 profits for Newmont Mining Corp (NYSE:NEM) were higher than Wall Street estimates.