Newmont navigates inflation pressures with Q3 focus on efficiency

Company News

by Finance News Network

Newmont Corporation (ASX:NEM) recently released its Q3 2024 results, showcasing a mixed performance amid higher operational costs and inflation pressures. The company's revenue for the quarter was $6.93bn, with a net profit margin affected by increased production costs and wage inflation, particularly in North America. Despite these challenges, Newmont remains committed to optimising its operations, emphasising cost efficiency and productivity improvements.

One of Newmont's significant updates in 2024 has been the successful integration of its recently acquired assets from Newcrest Mining, a move aimed at strengthening its portfolio in the Asia-Pacific region. CEO Tom Palmer stated, “Our focus is on extracting maximum value from our diverse portfolio, especially with the addition of Newcrest’s top-tier assets.” This acquisition is expected to boost Newmont’s long-term gold output, enhancing its position as a leading global gold producer.

The quarterly report also highlighted Newmont’s investments in sustainable practices, including reduced carbon emissions and innovative exploration techniques. 

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