World News

Newmont withdraws 2020 forecast following coronavirus outbreak

(Reuters) – Miner Newmont Corp <NEM.N> said on Monday it was withdrawing its 2020 outlook as some production could be deferred to 2021 due to the ongoing coronavirus outbreak.

For the first quarter of 2020, the company now expects to produce about 1.4 million attributable gold ounces and about 325,000 co-product gold equivalent ounces, the company said.

Newmont said mines representing 80% of its production outlook for 2020 were currently operating in line with the production targets for the year and added it was not facing any delays in shipping or transportation.

“We currently have no confirmed COVID-19 cases among our workforce and are taking … measures including social distancing at all our sites,” the company said.

More than 337,500 people have been infected with coronavirus across the world and over 14,500 have died, according to a Reuters tally.

(Reporting by Ann Maria Shibu in Bengaluru; Editing by Shounak Dasgupta)