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Newmont Announces Third Quarter 2013 Results

Stocks in this article: NEM

La Zanja – Attributable gold production during the third quarter at La Zanja in Peru was approximately 17,000 ounces. The Company continues to expect attributable gold production of 40,000 to 50,000 ounces.

Australia/New Zealand

Australia/New Zealand AISC for the third quarter were $1,068 per ounce, down 14% over the prior year quarter. AISC were positively impacted by an 18% reduction in gold CAS per ounce and 44% reduction in sustaining capital expenditures per ounce at Other Australia/New Zealand operations, partially offset by higher gold CAS per ounce at Boddington.

Boddington – Attributable gold and copper production during the third quarter at Boddington in Australia was 178,000 ounces and 15 million pounds, respectively, at CAS of $1,031 per ounce and $2.23 per pound, respectively. Gold production increased 7% over the prior year quarter due to higher throughput and recovery partially offset by lower ore grade milled. Copper production decreased 6% due to lower mill grade. Gold CAS increased 11% per ounce due to inventory write-downs partially offset by higher production. Copper CAS was marginally lower than the prior year. AISC at Boddington were $1,197 per ounce, up 12% over the prior year quarter.

The Company is maintaining its 2013 attributable gold production outlook of between 700,000 and 750,000 ounces at CAS of $1,050 to $1,150 per ounce including stockpile write-downs and $850 to $950 per ounce excluding stockpile write-downs. The Company now expects attributable copper production of between 60 and 70 million pounds. Copper production outlook has been revised due to lower than expected mill throughput. The Company continues to expect copper CAS of $2.75 to $2.95 per pound including stockpile write-downs and $2.45 to $2.65 per pound excluding stockpile write-downs.

Other Australia/New Zealand – Attributable gold production 7 during the third quarter was 289,000 ounces at CAS of $756 per ounce. Gold production increased 26% from the prior year quarter due to higher mill throughput and ore grade from underground sources at Tanami, higher throughput at Waihi, and higher grade and throughput at Kalgoorlie partially offset by lower grade at Jundee. CAS per ounce decreased 19% from the prior year quarter. This was due to higher gold production from Tanami, Waihi and Kalgoorlie partially offset by lower production and higher operating costs at Jundee. AISC were $996 per ounce, down 28% over the prior year quarter due to increased mining productivity and efficiency improvements.

The Company is maintaining its 2013 attributable gold production outlook of between 925,000 and 975,000 ounces at CAS of $1,000 to $1,100 per ounce including stockpile write-downs and $950 to $1,050 per ounce excluding stockpile write-downs.

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