Newmont ups cashflow, reserves

DESPITE posting a full-year loss due to impairments, Newmont Mining has shown that it’s in strong shape and poised for growth.

Newmont ups cashflow, reserves Newmont ups cashflow, reserves Newmont ups cashflow, reserves Newmont ups cashflow, reserves Newmont ups cashflow, reserves

The full-year net loss was US$60 million, while adjusted net income was up by 26% to $780 million.

The loss was due to non-cash impairments at the end of the year: $346 million for re-measurement of deferred tax assets and liabilities and $395 million in "tax restructuring" because of the new Trump tax plan.

Newmont's 12% rise in EBITDA to $2.65 billion came in a year when the miner produced 5.3 million ounces of gold (up 8% year-on-year), matching Barrick Gold in the December quarter with 1.34Moz.

The all-in sustaining cost for 2017 was bang in the middle of full-year guidance at $924 per ounce.  

Cashflow from operations rose by 22% to $2.4 billion, while free...