March 31, 2009
Newmont reported on it's Nevada mining operations for the quarter ended Mar31/09. Underground ore mined in the first quarter of 2009 increased to 629,000 tons, up from 526,000 tons in the first quarter of 2008. This increase was due to 34% higher tons at Leeville, 9% higher tons at Chukar and the addition of Carlin East in 2009, partially offset by 9% lower tons at Midas due to ground failure which curtailed production in March but is expected to resume by the end of April 2009. Underground ore grade decreased 12% in the first quarter of 2009 from 2008 primarily due to lower grade at Leeville. Costs applicable to sales per ounce increased to $509 in the first quarter of 2009 for all Carlin operations from $409 per ounce in the first quarter of 2008 due to lower production, lower surface ore tons mined, higher underground contracted service costs, lower by-product credits and higher royalties, partially offset by lower diesel and power costs.
