Newmont net income soars despite lower output, sales

Feb 25, 2013 | 11:29 AM | Mark Burton

Tags  Newmont Mining, Gary Goldberg, copper, gold, Russell Ball, Mark Burton

LONDON — Shares in Newmont Mining Corp. rose 2.5 percent Feb. 22 after the miner announced 2012 net income of nearly $1.81 billion, up fivefold from $366 million the previous year.

Despite rising production costs, lower output volumes and a 4.7-percent decline in sales to $9.87 billion, Newmont avoided making further large-scale write-downs following a $2.1-million charge against its assets in 2011.....

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