Newmont's (NYSE:NEM) 2010 Gold, Copper Production Up

Gold production for Newmont Mining Corp. (NYSE:NEM) rose in 2010, according to the company, adding their operating margins related to gold also rose.

Chief Executive Officer Richard O'Brien said, "Our gold operating margin also increased from $566 per ounce in 2009 to $737 per ounce in 2010 ... highlighting our increasingly attractive gold price leverage in a rising metal price environment."

The amount of gold production surpassed their previous estimate in the early part of November of 5.3 million ounces, coming in at 5.4 million ounces.

Copper production for Newmont really soared, increasing by 45 percent over production levels of 2009, growing to 327 million pounds.

In their latest quarter, Newmont produced 1.4 million ounces of gold, selling 1.3 million ounces at an average price of $1,368. They sold 57 million tons of copper in the fourth quarter for $4.52 each.

Newmont closed Thursday at $55.71, gaining $0.25, or 0.45 percent.