For 2023, Newmont has given production guidance between 5.7 and 6.3 million gold ounces and guided for all-in sustaining cost between $1,150 and $1,250 per ounce.
Miners had to grapple with higher fuel costs, as well as labor shortages in 2022.
On an adjusted basis, the company posted a net income of 44 cents per share for the October-December quarter, compared with the average analyst estimate of 46 cents. Revenue for the quarter fell by 6% to $3.2 billion compared to the year before.
Earlier this month, Newcrest Mining Ltd rebuffed Newmont’s $16.9 billion takeover bid, but left the door open for a better offer.
A source familiar with management’s thinking previously told Reuters that Newmont was open to sweetening its offer.
Denver, Colorado-based Newmont said attributable gold production for the fourth quarter edged up to 1.63 million ounces from 1.62 million ounces in the previous year’s quarter.
(Reporting by Sourasis…
