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

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