Newmont Strikes Gold, Profit and Costs Up
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The world&#39;s largest gold producer, Newmont Mining Corp. (NEM.N: Quote, Profile, Research) , on Wednesday said higher gold prices drove up quarterly profit by 12.
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Profits at mining group Xstrata more than double, boosted by acquisitions and rising metals prices.
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Gold hit a record high above $900 an ounce on Monday as turmoil in financial markets and expectations of aggressive U.S. rate cuts helped raise the metal the metal's safe-haven appeal.
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Quarterly profit soared thanks to new products, increased marketing and improvement in international business, the company said.
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TORONTO (CP) - Gabriel Resources Ltd. has signed a deal with Newmont Mining to raise $24.75 million in a private placement of units to help fund development of its Romanian gold project.
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Goldman Sachs Group Inc.  on Thursday said fourth-quarter profit rose as its fixed-income, currency and commodities business soared while a rebounding stock market boosted investment banking.
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Following news that U.S.-based Newmont Mining has increased its stake in Canadian Gabriel Resources Ltd., the company behind a giant mining project under preparation in Romania, Hungarian authorities and ...
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BHP Billiton, the world&#39;s biggest mining company, has doubled its profits in the second half of the year on the back of booming global commodity prices.
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Anglo American reported a 76 percent increase in annual profit as it increased production capacity and benefited from higher metal prices. It also said it would buy back $3 billion worth of its shares. Anglo said profit for 2006 came to nearly $6.2 billion, up from $3.52 billion the previous year. Revenue rose 12 percent, to $38.6 billion. Excluding one-time items, Angloâs profit rose 46 percent, to $5.5 billion. The company did not break out quarterly results. âOur strong performance was due to increased production across the majority of our businesses and higher prices, in particular for base metals, platinum and iron ore,â the chief executive, Tony Trahar, said. Operating profit from gold rose 41 percent, the company said. Operating profit from diamonds was down 21 percent.
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The world's largest gold producer,  Newmont Mining Corp. NEM.N, on Wednesday said higher gold  prices drove up quarterly profit by 12.5 percent, even though  it sold less of the precious metal.
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Norilsk Nickel, the world&#39;s largest  nickel and palladium miner, said on Friday 2006 net profit more  than doubled on record prices and the sale of a stake in South  African miner Gold Fields Ltd..
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Gold, oil and copper prices rose on  Tuesday, with copper recording its biggest ever one-day gain  and nickel touching a record high as investors returned after  last week&#039;s sell-off.
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Newmont Mining Corp. , the world's second-largest gold producer, said on Thursday that fourth-quarter profit more than tripled on sharply higher gold prices.
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By staff writers and wires. AUSTRALIAN company profits jumped 10.3 per cent in the June quarter thanks to robust consumer and business spending that will boost economic growth outcomes and the electoral prospects of the Howard Government.
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The company said earnings jumped because of shipments recovered after a labor dispute and a rise in demand for specialty metals used in power plants.
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The Anglo-Australian mining giant unveils record profits of $3.4bn, helped by soaring demand from China.
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Gold hit another record high on Monday before losing some strength, but turmoil in financial markets and expectations of aggressive U.S. rate cuts may help the metal touch the psychological level of $900 an ounce soon.