DENVER--(BUSINESS WIRE)-- Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company) announced full year and fourth quarter 2018 results.

Full Year 2018 Summary
• Net income: Delivered GAAP net income from continuing operations attributable to stockholders of $280 million or $0.53 per diluted share; delivered adjusted net income1 of $718 million or $1.34 per diluted share,down $0.11 compared to the prior year
• EBITDA: Generated $2.6 billion in adjusted EBITDA2, a decrease of two percent from the prior year
• Cash flow: Reported consolidated cash flow from continuing operations of $1.8 billion and free cash flow3 of $805 million
• Gold costs applicable to sales (CAS) 4:Reported CAS of $708 per ounce, in line with the Company’s full year guidance
• Gold all-in sustaining costs (AISC) 5:Reported AISC of $909 per ounce, beating the Company’s full year guidance
• Attributable gold production: Produced 5.1 million ounces of gold, in line with the Company’s full year guidance
• Portfolio improvements: Advanced Tanami Expansion 2 to definitive feasibility study and progressed the Tanami Power Project in Australia; completed the Cripple Creek & Victor (CC&V) concentrates project, reached commercial production at Twin Underground and Northwest Exodus, acquired 50 percent interest in Galore Creek, and progressed Long Canyon Phase 2 to feasibility study in North America; reached commercial production at Subika Underground, progressed the Ahafo Mill Expansion, and advanced Akyem Underground to prefeasibility study in Africa; reached first gold at Quecher Main, advanced Yanacocha Sulfides to definitive feasibility study, and completed the primary crusher at Merian in South America; divested royalty portfolio to Maverix Metals and formed strategic partnerships with Teck Resources Limited, Sumitomo Corporation, Evrim Resources, Miranda Gold and Orosur Mining.
• Financial strength: Ended the year with $3.4 billion cash on hand and net debt of $0.9 billion; an industry-leading balance sheet with investment-grade credit profile; declared dividends of $0.56 per share
• Outlook: Attributable production at 5.2 million ounces, CAS at $710 per ounce and AISC at $935 per ounce, unchanged from December 2018

“Newmont continued to deliver on its commitments in 2018, generating $2.6 billion in adjusted EBITDA and $805 million in free cash flow, and returning $400 million to shareholders through an industry-leading dividend and share repurchases,” said Gary J. Goldberg, Chief Executive Officer. “This performance gave us the means to complete expansions in the US and Africa, advance projects and exploration on four continents, and pursue an agreement to create the world’s leading gold business as measured by assets, people, prospects and value. Strong operational execution – including more than $600 million in Full Potential sustainable cost and efficiency gains and recognition for leading sustainability practices – was overshadowed, however, by the loss of seven colleagues during the year.”

Fourth Quarter 2018 Summary
Net loss: Delivered GAAP net loss from continuing operations attributable to stockholders of $(3) million or $0.00 per diluted share; delivered adjusted net income of $214 million or $0.40 per diluted share,up $0.01 compared to the prior year quarter
• EBITDA: Generated $759 million in adjusted EBITDA, up five percent from the prior year quarter
• Cash flow: Reported consolidated cash flow from continuing operations of $742 million and free cash flow of $473 million
• Gold CAS:Reported CAS decreased five percent to $658 per ounce from the prior year quarter
• Gold AISC: Reported AISCdecreased nine percent to $845 per ounce from the prior year quarter
• Attributable gold production: Produced 1.44 million ounces of gold, an increase of eight percent from the prior year quarter

Full Year and Fourth Quarter 2018 Results

Net income (loss) from continuing operations attributable to Newmont stockholders for the full year was $280 million or $0.53 per diluted share, up $356 million from the prior year, primarily due to lower income tax expense and a gain from the sale of our royalty portfolio in June 2018, partially offset by increased impairments of exploration and long-lived assets in North America and lower production at various sites. Net loss from continuing operations attributable to Newmont stockholders for the quarter was $(3) million or $0.00 per diluted share, an increase of $546 million from the prior year quarter, primarily due to lower income tax expense.

Adjusted net income was $718 million or $1.34 per diluted share for the full year, compared to $774 million or $1.45 per diluted share from the prior year. Adjusted net income for the quarter was $214 million or $0.40 per diluted share,compared to $206 million or $0.39 per diluted share in the prior year quarter. The primary adjustments to fourth quarter net income include $0.23 per diluted share related to net tax adjustments and valuation allowances and $0.07 per diluted share related to the impairment of an equity and cost method investments.

Revenue for the full yeardecreased two percent to $7,253 million primarily due to lower production at various sites. Fourth quarter revenue rose six percent to $2,048 million primarily due to higher gold production at various sites, partially offset by lower average realized metal prices.

Average realized price 6 for gold was in line for the full year at $1,260 per ounce and three percent lower for the quarter at $1,233 per ounce, compared to the prior year. The average realized price for copper for the full year was three percent lower at $2.74 per pound and was 18 percent lower for the quarter at $2.62 per pound.

Gold CAS rose two percent to $708 per ounce for the full year, primarily due to lower ounces sold, higher stockpile and leach pad inventory adjustments, and higher oil prices. Gold CAS decreased five percent to $658 per ounce for the quarter due to higher ounces sold at Ahafo and lower power costs in Africa.

Gold AISC rose two percent to $909 per ounce for the full year, primarily due to higher CAS per ounce. Gold AISC decreased nine percent to $845 per ounce for the quarter, primarily due to higher ounces sold and lower sustaining capital spend.

Attributable gold production decreased three percent to 5.10 million ounces for the full year primarily due to lower grades at various sites and lower leach tons placed at Carlin, Phoenix, CC&V and Yanacocha, partially offset by higher grades and recovery at Tanami and Ahafo. Production for the fourth quarter rose eight percent to 1.44 million ounces primarily due to higher grades and recovery at CC&V and Ahafo, partially offset by lower grades at KCGM.

see & read more on
https://www.newmont.com/newsroom/newsroom-details/2019/Newmont-Announces-Full-Year-and-Fourth-Quarter-2018-Results/default.aspx