Newmont Mining Corp Reports Record Revenue and Increased Gold and Copper Production

Strategic Insights -

Newmont Mining Corp reported a 76% increase in net income to $2.3 billion or $4.63 per share in 2010, compared to $1.3 billion or $2.66 per share in 2009. The company's attributable gold production reached 5.4 million ounces, with copper production increasing by 44% to 327 million pounds in 2010. Additionally, Newmont reported record revenue of $9.5 billion in 2010, a 24% increase from 2009. The company's average realized gold price was $1,222 per ounce, while the copper price averaged $3.43 per pound in 2010.

Key Takeaways:

  • Newmont's net income increased by 76% to $2.3 billion in 2010, with a net income of $4.63 per share, compared to $1.3 billion or $2.66 per share in 2009.
  • Attributable gold production was 5.4 million ounces in 2010, with copper production increasing by 44% to 327 million pounds, compared to 2009.
  • The company reported record revenue of $9.5 billion in 2010, a 24% increase from 2009.
  • Average realized gold price was $1,222 per ounce, while the copper price averaged $3.43 per pound in 2010.
  • Nevada attributable gold production was 429,000 ounces in 4Q and 1.7 million ounces in 2010.
  • La Herradura attributable gold production was 49,000 ounces in 4Q and 174,000 ounces in 2010.
  • Newmont's 2011 attributable gold production is expected to be between 5.1 and 5.3 million ounces, with copper production estimated at 190 to 220 million pounds.
  • Sales were $2.548 billion for 4Q 2010, compared to $2.518 billion in 4Q 2009, and $9.54 billion in 2010, compared to $7.705 billion in 2009.

Statistics:

  • Net income: $2.3 billion in 2010, $1.3 billion in 2009
  • Net income per share: $4.63 in 2010, $2.66 in 2009
  • Attributable gold production: 5.4 million ounces in 2010
  • Copper production: 327 million pounds in 2010, 190-220 million pounds expected in 2011
  • Average realized gold price: $1,222 per ounce in 2010
  • Copper price: $3.43 per pound in 2010, $4.52 per pound in 4Q 2010
  • Revenue: $9.5 billion in 2010, $7.705 billion in 2009
  • Sales: $2.548 billion in 4Q 2010, $2.518 billion in 4Q 2009

Sources:

  • [1] Newmont Mining Corp press release (no specific date mentioned)
  • [2] Financial figures for 4Q 2010 and 2010 (no specific publication mentioned)