NEW YORK — Greenwood Village-based Newmont Mining Corp. said it expects copper production over the next year to fall short of estimated 2011 levels due largely to a planned reduction in production at an Indonesian mine.
For 2012, the company sees copper production of roughly 150 million to 170 million pounds with costs of about $1.80 to $2.20 per pound. Newmont on Tuesday estimated it recorded copper production of 206 million pounds at a cost of $1.26 per pound in 2011.
Newmont also said it expects to spend roughly $3 billion to $3.3 billion on capital expenditures this year. About 60 percent of that estimate is allocated to growth project initiatives, including further development of the Akyem project in Ghana.
Denver Post staff and wire reports
