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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (166468)	7/25/2022 5:04:41 PM
From: LoneClone	Read Replies (1) \| Respond to of 192748

Newmont profit slumps on lower gold prices miningweekly.com 25th July 2022 By: Reuters Miner Newmont on Monday reported a drop of about 41% in second-quarter adjusted profit hurt by lower gold prices. Bullion prices faced their worst quarter since early 2021, falling nearly 7% in the three months ended June, as a firm dollar and aggressive rate hikes from central banks to rein in inflation eroded the appeal of the non-yielding asset. The company said its all-in sustaining cost, an industry metric that reflects total expenses associated with production, rose to $1 199 per ounce of gold from $1 035 per ounce. The attributable gold production in the quarter rose to 1.5-million ounces from 1.45-million ounces a year earlier. Net income from continuing operations dropped to $379-million, or 48c a share, in the quarter ended June 30, from $640-million, or 80c a share a year earlier.