How did zinc project trends influence Newmont's 2023 expenses?

Newmont's 2023 expenses were influenced by several factors, including zinc project trends. Here's a detailed analysis: 1. **Impact of Zinc Project Trends**: Newmont's expenses were affected by the trends in its zinc projects, such as the Penasquito mine. The Penasquito mine experienced a strike that impacted production and, consequently, the company's expenses. The strike led to an adjustment in the outlook for zinc production, which in turn influenced the company's overall expenses. 2. **Increased Costs Applicable to Sales (CAS)**: Newmont reported an increase in Costs Applicable to Sales (CAS) for gold, which was partly due to the impact of the Penasquito strike on zinc production. The CAS for gold amounted to $1,019 per ounce, up 5.3% from the previous year's levels. 3. **All-in-Sustaining Costs (AISC)**: The company's All-in-Sustaining Costs (AISC) for gold were up around 12.2% year over year to $1,426 per ounce. This increase was higher than the company's estimate of $1,050 per ounce. This indicates that the zinc project trends, along with other factors, contributed to the rise in Newmont's expenses. 4. **Inflationary Pressures**: Newmont also faced inflationary pressures that impacted its expenses. The company reported that inflationary pressures were a significant factor in the increase of its expenses. This includes costs related to labor, consumables, and energy, which are essential for mining operations. In conclusion, the zinc project trends, such as the Penasquito strike, significantly influenced Newmont's 2023 expenses. The company's Costs Applicable to Sales (CAS) and All-in-Sustaining Costs (AISC) increased due to these trends, along with other factors like inflationary pressures.