US-based exploration company Newmont Mining has increased its gold production guidance for next year on the basis of ongoing investment in its operating assets.

The company revised its gold production guidance to between 4.9 million and 5.4 million ounces from the previous guidance of between 4.7 million and 5.2 million ounces, while it expects all-in sustaining costs (ASIC) of between $965 and $1,025 per ounce.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

For the period between 2020-22, the company anticipates production to remain stable at between 4.6 million and 5.1 million ounces per year.

Newmont Mining president and CEO Gary Goldberg said: “Our five-year guidance reflects steady performance, portfolio and balance sheet improvements, and gives us the means and confidence to target a dividend increase of at least 50% in 2018.

“We expect to deliver steady gold production at competitive costs over the next five years, and to continue investing in margin and reserve growth.

“We expect to deliver steady gold production at competitive costs over the next five years, and to continue investing in margin and reserve growth.”

“This commitment is backed by our proven strategy and track record and our differentiated technical and operating talent, project pipeline and global footprint.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Meanwhile, the company’s outlook did not include any revisions in relation to total capital guidance for next year, which remains unchanged between $900m and $1bn.

For 2019, capital is expected to be between $730m and $830m, while the guidance outlined the capital for the longer term through 2022 to be between $580m and $680m.

The company’s Northwest Exodus, Subika underground and Twin underground will reach commercial production next year, while the Ahafo Mill expansion and Quecher Main are scheduled to reach commercial production in 2019.

Earlier this month, Newmont signed an agreement to further explore the prospective Esperance gold discovery in French Guiana, with a right to earn up to a 70% interest in the property through multi-year investments.