2 minute read
Visitors speak with a representative at the Newmont Corp booth at the Prospectors and Developers Association of Canada (PDAC) annual conference in Toronto, Ontario, Canada March 1, 2020. REUTERS/Chris Helgren
Top gold producer Newmont Corp (NEM.N) on Thursday warned of more hits to its South American operations due to the COVID-19 pandemic, which also prompted it to suspend activity at a Canadian mine, sending its shares down more than 3%.
The S&P 500-listed miner said it expects impacts to continue at its mines in Argentina and Peru, countries currently grappling with a second wave of the pandemic, until they begin mass coronavirus vaccinations.
Newmont shares drop on covid-19 hits in South America, Canada
Argentina’s Cerro Negro mine first gold pour. (
Top gold producer Newmont on Thursday warned of more hits to its South American operations due to the COVID-19 pandemic, which also prompted it to suspend activity at a Canadian mine, sending its shares down nearly 5%.
The S&P 500-listed miner, worth $49 billion in New York, said it expects impacts to continue at its mines in Argentina and Peru, countries currently grappling with a second wave of the pandemic, until they begin mass coronavirus vaccinations.
Sign Up for the Precious Metals Digest
Provided by Dow Jones By Robb M. Stewart Newmont Corp. said Thursday it remains on track to hit its full-year guidance with an improvement in production expected for the second half following a decline in first-quarter output. On guidance: In the first quarter, we delivered a solid financial performance with $1.5 billion in adjusted Ebitda and $442 million in free cash flow, putting Newmont on track to achieve our full-year guidance, President and Chief Executive Officer Tom Palmer said. Newmont said it continues to expect gold production of 6.5 million troy ounces this year, and between 6.2 million and 6.7 million in each of the following two years. Output is expected to be 6.5 million to 7 million in 2024 and 2025, it said.
Enniskillen school sows seeds for the future as they open eco-garden impartialreporter.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from impartialreporter.com Daily Mail and Mail on Sunday newspapers.