UPDATE 1-Gold miner Newmont earnings in line, raises output forecast

(Adds analyst estimates, outlook, other financial and
production results)
July 22 (Reuters) - Newmont Mining Corp NEM.N reported
higher second-quarter adjusted earnings on Wednesday, in line
with analyst expectations, as lower oil prices and favorable
exchange rates offset the impact of weaker metal prices.
Based on this performance, Newmont, the world's No. 2 gold
producer, raised its gold production forecast and lowered its
cost outlook.
The miner now expects attributable gold production of
between 4.7 million and 5.1 million ounces in 2015, up from a
prior forecast of 4.55 million to 4.9 million ounces. It sees
production rising to between 5.2 million and 5.5 million ounces
in 2017.
Consolidated all-in sustaining costs per ounce are now
expected to be between $920 and $980 in 2015, down from an
earlier forecast of $960 to $1,020, and seen holding relatively
steady at between $900 and $1,000 in 2017.
The changes also take into account the recent acquisition
of the Cripple Creek & Victor mine, the pending sale of the
Waihi mine and the start up of the Long Canyon mine.
Newmont said adjusted net earnings rose to $131 million, or
26 cents a share, in the quarter to end-June from $101 million,
or 20 cents a share, in the same period a year ago.
Analysts on an average expected the miner to report earnings
of 26 cents per share, according to Thomson Reuters I/B/E/S.
All-in sustaining costs to produce one ounce of gold
improved to $909 an ounce from $1,063 in the same quarter a year
ago.
Attributable gold production from Newmont's mines in the
Americas, Australia, Asia and Africa rose to 1.24 million ounces
of gold and 41,000 tonnes of copper in the quarter. That
compares with 1.22 million ounces of gold and 20,000 tonnes of
copper in the second quarter of 2014.