Newmont MiningCorp.'s net income attributable to shareholders in the second quarterslumped to US$23 million, or 4 cents per share, from US$72 million, or 14 centsper share, booked in the year-ago quarter.
Revenue was slightly up at US$2.04 billion, compared with US$1.91billion last year, the company said in a July 20 release.
All-in sustaining costs fell to US$876 per ounce of gold andUS$1.53 per pound of copper, from US$909 per ounce of gold and US$1.61 per poundof copper posted a year ago.
Adjusted EBITDA totaled US$804 million during the period, significantlyup from US$692 million last year.
Attributable gold output rose 7% on a yearly basis to about 1.3million ounces, as new production from the Cripple Creek & Victor mine and higher output from theTanami, and operations more than offsetfalling production from the Yanacochamine and the sale of theWaihi property.
Meanwhile, attributable copper production declined 10% year overyear to 38,000 tonnes due to slightly lower grade and throughput at the mine.
Newmont expects to produce between 4.7 million and 5 millionounces of gold this year at AISC of between US$870 and US$930 per ounce, and between40,000 and 60,000 tonnes of copper at AISC ranging from US$2.20 to US$2.40 per pound.
CapEx for the quarter totaled US$294 million, including US$155million in sustaining capital.
In a bid to lower debt, to fund its highest margin projects andcreate value for shareholders, Newmont recently entered a deal to its 48.5% stake in for US$1.3 billionto PT Amman Mineral Internasional.
The company has reduced debt by more than US$600 million thisyear, and it remains on track to repay US$800 million to US$1.3 billion of debtbetween 2016 and 2018, it noted.
In a separate same-day release, Newmont declared a quarterlydividend of 2.5 cents per share, payable Sept. 29 to shareholders on record as ofSept. 15.