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New Gold increased its gold production by 10% in 2020

New Gold increased its gold equivalent production 10% in 2020, to 437,619 ounces.

In summary, the company is a Canadian mining company that owns and operates the New Afton gold-silver-copper mine in British Columbia and the Rainy River gold-silver mine in Ontario, Canada.

In the fourth quarter of 2020, the company posted revenue of $ 198.9 million, an advance of 42.9% year-on-year.

Despite the problems from the Covid-19 pandemic, the company‘s revenues escalated due to an increase in the prices of gold and copper and in the volume of gold sales.

With this, its revenues for all of 2020 totaled 643.4 million dollars, an increase of 2%, at an annual rate.

This result was due to an increase in gold and copper prices that was partially offset by a decrease in sales volume that included the impact related to a voluntary two-week suspension due to Covid-19 in Rainy River.

Through a Mexican subsidiary, New Gold also owns the Cerro San Pedro gold and silver mine in San Luis Potosí, Mexico, which ceased operations in 2017.

New Gold

The company is dedicated to the exploration, development and operation of mineral properties.

Among the Company mines are the following:

  • 100% interest in the Rainy River gold and silver mine in Ontario, Canada.
  • 100% interest in the New Afton copper and gold mine, British Columbia, Canada.
  • Also 100% interest in the Blackwater gold-silver project in British Columbia, Canada.
  • The company owns a 100% interest in the Cerro San Pedro gold and silver mine in San Luis Potosí, Mexico, which concluded active mining in June 2016 and went into recovery in December 2018.

 

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