By Simon Casey - Apr 7, 2011 8:22 AM ET
Newmont Mining Corp. (NEM) rose in New York trading after saying it plans to raise annual gold production to 7 million ounces by 2017 and link its dividend payment to the average sales price for the metal.
The 2017 output target represents an increase of about 35 percent over the company’s 2011 forecast of 5.1 million to 5.3 million ounces, Newmont said today in a statemnet before the start of its annual investor conference.
Newmont rose 53 cents to $56.98 as of 8:12 a.m. before the start of regular trading on the New York Stock Exchange.
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