Newmont books quarterly loss

DENVER: Newmont Mining Corp., the world's biggest gold miner, on Wednesday reported a quarterly loss as sales of the precious metal rose 13.5 percent thanks to higher prices.

The company said it anticipated full-year earnings per share from operations of between 40 and 50 cents assuming current gold prices.

Newmont said its average realized price for an ounce of gold was US$291 in the first-quarter, up from $264 a year earlier.

The Denver-based company had a net loss of $10.9 million, or 4 cents per share, for the first quarter after a non-cash mark-to- market gain from derivatives of $12.3 million after tax. This compared with a loss of $39.1 million, or 20 cents per share, after a mark-to-market gain and merger-related charges in the first quarter of 2001. --Reuters