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Newmont costs soar, shares slump

Leading New York-listed gold miner Newmont missed second-quarter earnings and production consensus, saw gold AISC rise by 16% year-on-year, lowered production guidance for the year and has delayed projects. Its shares slumped 12%.

Newmont costs soar, shares slump Newmont costs soar, shares slump Newmont costs soar, shares slump Newmont costs soar, shares slump Newmont costs soar, shares slump

Newmont shares lose 12% on results

Adjusted second quarter earnings before interest, taxes, depreciation, and amortization (EBITDA) for the Denver-based firm fell 28% to US$1.1 billion from $1.6 billion a year earlier.

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