The strength of gold during tough economic times was proven again by Newmont Mining's third quarter earning report that was released on Oct. 29. Denver, CO-based Newmont, the world's second largest gold miner, reported record quarterly revenues of 2 billion dollars and net cash from operations of 1.1 billion dollars, resulting in net income of 388 million dollars. "Our continued focus on cost containment resulted in a 13-percent improvement in gold cost of sales per ounce over the same quarter last year," said Richard O'Brien, president and chief executive officer.
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