Newmont records $2.47bn loss in 2023 on impairment charges

US-based gold miner Newmont has stated a internet loss as a consequence of its stockholders of $2.47bn for the financial year 2023, in the wake of large impairment and reclamation prices.

Newmont

US-based gold miner Newmont has stated a internet loss as a consequence of its stockholders of $2.47bn for the financial year 2023, in the wake of large impairment and reclamation prices.

The loss was driven with the aid of $1.9bn in impairment fees, $1.5bn in reclamation fees, and $464m related to the Newcrest takeover and integration prices.

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Adjusted net earnings additionally declined, falling to $1.35bn in 2023 from $1.46bn in 2022, while adjusted income earlier than interest, taxes, depreciation and amortisation (EBITDA) decreased to $4.21bn from $four.55bn.

However, revenue for the 12 months remained solid at $11.81bn.

For the quarter ended 31 December 2023, Newmont’s net loss turned into $3.14bn, versus a loss of $1.48bn in the identical duration of the previous year.

Its adjusted internet profits for the fourth zone (Q4) of 2023 stood at $486m, down from $348m in the corresponding zone of 2022. Quarterly adjusted EBITDA of $1.38bn became 19% higher than Q4 2022.

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