It may come as little surprise to those who understand the "fear trade" and the "love trade" in gold, as Frank Holmes of US Global Investors likes to say.
The company now expects earnings before interest, tax, depreciation and amortization, which is a more closely watched metric than net income in the steel industry, to be between $6bn and $7bn.
Newmont Mining (NYSE:NEM) has sold its only mine in New Zealand, the Waihi gold mine, to OceanaGold (TSX, ASX:OGC), the companies announced last Thursday.