Newmont Corp on Monday raised its annual cost forecast and warned that inflationary pressures would persist into 2023 after its second-quarter profit missed Street estimates, sending the world’s biggest gold miner’s shares down 12 percent.
Higher operating costs related to labor, energy, and supplies have forced the miner to hike its annual forecast for all-in sustaining costs (AISC), an industry metric that reflects total expenses, to $1,150 per ounce from $1,050 per ounce earlier.
