CEO Mark Cutifani told an earnings call that drilling at the company's União prospect, rumored to be a major copper discovery in Brazil, has found interesting copper mineralization.
Newmont Mining is inching closer to developing a copper-gold sulfide project that will extend the life of its Yanacocha mine by 20 years.
The company is drilling for additional ore feed at its Mexican mine, with two new deposits already under development.
In the meantime, Peruvian and Colombian steel markets are expected to shine in the period, CEO Gustavo Werneck told a call on Thursday.
The company increased iron ore sales volumes, but a drop in prices cut into its annual profit.