Hope Bay Writedown Means Quarterly Loss for Newmont

Bloomberg reported that Newmont Mining (NYSE:NEM) reported a quarterly loss, citing the writedown of its Hope Bay gold project.

As quoted in the market news:

The net loss was $1.03 billion, which compared with net income of $812 million a year earlier, Greenwood Village, Colorado-based Newmont said yesterday in a statement.

Click here to read the full Bloomberg report.