SOURCE: Industrial Info Resources

February 23, 2009 05:00 ET

Newmont Mining Posts $10 Million 4Q08 Profit on Higher Gold Prices, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - February 23, 2009) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Newmont Mining Corporation (NYSE:NEM) (Denver, Colorado) has announced a fourth-quarter 2008 net income of $10 million, compared with a loss of $289 million in the same period last year. The company's return to profitability is mainly attributed to fewer write-downs and the rising price of gold, despite a drop in copper sales. As part of our International Industrial Database, Industrial Info is tracking seven active projects involving Newmont Mining worth $2.43 billion. The projects range from a $3 million maintenance shutdown to a $1.5 billion grassroot gold and copper mine and concentrator.

For details, view the entire article by subscribing to Industrial Info's Premium Industry News at http://www.industrialinfo.com/showNews.jsp?newsitemID=144023, or browse other breaking industrial news stories at www.industrialinfo.com.

Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services. For more information send inquiries to metalsandmineralsgroup@industrialinfo.com or visit us at www.industrialinfo.com.

Related News Articles

Teck Cominco Faces Big Losses from Lower Metals Prices

Economic Stimulus Plan Could Provide Some Relief to Aggregates-Manufacturer Vulcan Materials Company

Metals & Minerals Companies Construct 32 New Plants in the U.S.

Contact Information

  • Contact:
    Joe Govreau
    713-783-5147