The Conga gold/copper mine in Peru — which some area residents feared would hurt local farmers’ water supplies — has now built in a reservoir system that will give the farmers better year-round access to water, Newmont Mining Corp. said this morning. According to the approved environmental impact assessment, upon which Newmont was providing more details,...
Following a lead from Newmont Mining Corp., which has linked its dividend price to the market price of gold, Hecla Mining Co. said this morning it has taken a similar tack, linking dividend payments to Hecla’s average quarterly realized silver price in the preceding quarter. The initial quarterly dividend under the policy is expected to...
Newmont Mining Corp. today is celebrating its 90th anniversary since its official incorporation on May 2, 1921. The world’s No. 2 gold company now is based in Greenwood Village, Colo. It has mines around the world, employing some 34,000 workers and contractors. Founded by Col. William Boyce Thompson, Newmont began managing private mining investments...
Compania de Minas Buenaventura S.A.A., Peru’s largest publicly held precious metals mining company, suffered a loss of $6.1 million in the fourth quarter of 2008, as its interest in the Cerro Verde copper mine (Freeport-McMoRan Copper & Gold Inc.) pulled down its gold earnings. The quarterly loss compared with $120.1 million in net income...
Newmont Mining Corp. had record revenues of $6.2 billion in 2008 on equity gold sales of 5.2 million ounces, as well as a 50% increase in adjusted net income to $905 million, it reported Feb. 19. The company said it had a 40% increase in gold operating margin, despite a “challenging cost environment.” Newmont’s...
Major companies have been investing billions into mining operations in Peru, but falling base metal prices, along with higher costs, are squeezing that nation’s trade surplus — and future investment. A trade surplus that had hit $8.36 billion in 2007 as prices for copper, zinc, gold and other metals continued toward their peaks dropped...
