Newmont reports solid fourth-quarter profit estimates, plans to divest mines in Canada, Australia
(Kitco News) - Higher gold prices and solid production drove fourth-quarter earnings for the world’s largest gold miner.Thursday, ahead of the North American trading session, Newmont Corporation (NYSE: NEM) reported adjusted net income of $486 million or $0.50 per share for the fourth quarter of 2023, up sharply compared to $286 million or $0.36 per share reported in the third quarter.The adjusted income didn’t include $2.5 billion in losses due to impairment charges and the $464 million spent to buy Australian-based Newcrest.
Gold is buffeted by CPI, and a massive landslide in Turkey traps miners
Kitco News - Markets and gold took a steep dive on hotter than expected CPI data mid-week, noted mining audiences manager Michael McCrae. On Saturday, McCrae recorded Kitco Roundtable with correspondent Paul Harris. SSR Mining's mining accident at its operation in Turkey was also covered.
Revenue and gold reserves are up at Agnico Eagle, but so are costs
Kitco News - Numbers were way up at Agnico Eagle Mines (NYSE:AEM) due to its acquisition of the remaining 50% of Canadian Malartic.The number three ranked miner by gold production released its year end Thursday evening.Full year gold production was 3.4 million ounces compared to 3.1 million a year ago.Net income was $1.9 billion compared to $670 million thanks to a near $200 jump in the average realized price of gold.
Kitco Mining to announce the Mining CEO Of The Year 2023 at PDAC
(Kitco News) - Kitco Mining will be announcing Mining CEO Of The Year 2023 winners at the Prospectors & Developers Association of Canada (PDAC) convention, which is being held in downtown Toronto, Ontario from March 3-6, 2024.The award recognizes exceptional leadership, vision, and dedication in guiding a company to new heights of success and investor returns. There will be awards for both the operating and non-operating categories.