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Newmont Announces Five-year Production Guidance - Quick Facts

Newmont (NEM, NGT.TO) announced, for 2020, the company projects attributable gold production of 6.7 million ounces at all-in sustaining costs of $975 per ounce. The 2020 outlook increases from 2019 with a full year of production from the acquired Goldcorp assets. Attributable gold production is expected to be between 6.5 and 7.0 million ounces per year longer-term through 2024 with improving costs.

The company expects to produce approximately 1.1 million gold equivalent ounces from other metals in 2020 and increasing longer-term through 2024.

Tom Palmer, CEO, said: "Our five-year outlook reflects steady gold production of 6.5 to 7 million attributable gold ounces as well as an additional 1.2 to 1.4 million gold equivalent ounces of copper, silver, lead and zinc. Our outlook also highlights our steadily improving cost profile, which includes more than half a billion dollars per year in sustainable operating, cost and supply chain improvements by 2021."

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