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Newmont’s earnings rose to $133m first quarter 2017, expectations for Ghana high

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Newmont Mining Corporation says its first quarter 2017 earnings rose slightly. According to the Denver, USA based mining company with interests in Ghana, adjusted net income rose slightly to $133 million, or 25 cents per share, from adjusted net income of $129 million, or 24 cents per share a year earlier.

First-quarter sales rose to $1.7 billion from $1.5 billion in 2016, it said last week.

The company also says it will expand its Ahafo mine in the country by building a new underground mine — the Subika Underground mine, adding that it will expand plant capacity by more than 50 per cent.

“Permits, funding and resources are in place to build the Subika Underground mine – which will produce 1.8 million ounces of gold over an 11-year mine life, and access ore grades that are three times higher than our surface mines – and the Ahafo mill expansion,” Newmont CEO, Gary Goldberg was quoted as saying in a statement.

Newmont Ghana is the largest mining company in the country

By Emmanuel K. Dogbevi 

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