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.

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