https://newsletter.mw.creamermedia.com
Gold|Underground|Operations
Gold|Underground|Operations
gold|underground|operations

Gold miner Newmont's quarterly profit beats estimates as bullion rallies

25th July 2025

By: Reuters

  

Font size: - +

Newmont surpassed Wall Street expectations for second-quarter profit as the world's top gold miner benefited from a rally in bullion prices, sending its shares 4% higher in extended trading on Thursday.

Prices of the precious metal have consistently set record highs over the past few quarters, as uncertainty over US President Donald Trump's tariff plans and geopolitical concerns boosted gold's safe-haven appeal.

In the second quarter, gold prices averaged at $3 220.58 per ounce, nearly 40% above levels seen a year earlier.

Newmont's average realized price for gold was at $3 320 per ounce, compared with $2 347 a year ago.

The bullion rally helped Newmont cushion an 8% fall in gold production to 1.48-million ounces in the second quarter. Meanwhile, all-in-sustaining costs for gold, an industry metric reflecting total expenses, rose nearly 2% to $1 593 per ounce.

The decrease in output comes after Newmont began divesting non-core assets last year to reduce debt in the months following the completion of its $17.14-billion deal for Australian miner Newcrest.

Since November 2024, Newmont has divested its Eleonore mine in Canada for about $795-million, the Musselwhite gold mine in Ontario in an $850-million deal, and its stake in Porcupine operations in Ontario for $425-million.

The firm left its annual outlook unchanged on Thursday but announced a new $3-billion share repurchase program, which J.P.Morgan analyst Al Harvey said would lend support to Newmont's earnings per share.

On an adjusted basis, the miner posted a profit of $1.43 per share for the three months ended June 30, compared with analysts' average estimate of $1.18 per share, according to data compiled by LSEG.

Earlier this week, the company said three workers were trapped underground at a western Canadian mine operated by Newmont, adding that operations had been temporarily suspended at the mine.

It has deployed specialized drones to assess the geotechnical conditions underground and is focused on re-establishing communication with the trapped workers.

Edited by Reuters

Comments

Showroom

SAJ Electrics
SAJ Electrics

Smart energy storage solutions for efficient, safe, and profitable power.

VISIT SHOWROOM 
Immersive Technologies
Immersive Technologies

Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 25 July 2025
Magazine round up | 25 July 2025
25th July 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.135 0.231s - 128pq - 2rq
Subscribe Now