Costs blow out on Newmont's Tanami expansion

SHARES in Newmont Corporation slumped after the company lowered guidance and reported higher capital costs and delays at key projects.

Costs blow out on Newmont's Tanami expansion Costs blow out on Newmont's Tanami expansion Costs blow out on Newmont's Tanami expansion Costs blow out on Newmont's Tanami expansion Costs blow out on Newmont's Tanami expansion

The Tanami expansion under construction

Adjusted June quarter EBITDA fell 28% to US$1.1 billion from $1.6 billion a year earlier, while adjusted earnings per share of 46c missed consensus of 66c.

Production was 1.