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What Newmont’s Higher Costs in 2018 Mean

Annie Gilroy
What Newmont’s Higher Costs in 2018 Mean

Newmont Mining’s (NEM) AISC (all-in sustaining costs) were $973 per ounce in 1Q18, 8.1% higher YoY (year-over-year) and 0.5% higher quarter-over-quarter. AISC were driven higher by oil prices, mill maintenance at the Boddington mine, higher stockpile and leach pad inventory adjustments, and exploration expenses. While NEM’s unit costs increased YoY, they were in line with its fiscal 2018 guidance.