Gold sales of 373,700 oz. were reported by Newmont Gold (NYSE) from its five mills during the first quarter of 1991, compared with 395,700 oz. during the same period last year.
North America’s largest gold producer, Newmont reported a total cash production cost averaging US$207 per oz. during the quarter, down from US$224 last year.
The company said the decline in costs resulted in part from lower mining and processing levels from a year ago, without a proportionate reduction in ounces produced. The Nevada producer operates five mills in addition to heap leach facilities. Net income slipped during the quarter to US$34.2 million (from US$42.5 million during the same period last year) on reduced revenue of US$139.3 million.
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