# Newmont Targets 2033 Red Chris Start, Raises 2026 Gold Cost Outlook By John Kim Canonical URL: https://www.tokenpost.com/news/business/39282 Published: 2026-10-23T20:12:21.000Z Updated: 2026-10-23T20:12:21.000Z Section: Business > The project carries an estimated $4.2 billion to $4.8 billion in capital, with lifetime targets of about 3 million ounces of gold and 850,000 tonnes of copper. Newmont raised its 2026 gold all-in sustaining cost (AISC) forecast to about $1,520 per ounce and set 2033 as the target year for commercial production at its Red Chris Block Cave project. The project has an estimated capital requirement of $4.2 billion to $4.8 billion. Newmont’s targets over the planned 13-year mine life total roughly 3 million ounces of gold and 850,000 tonnes of copper. Those are cumulative production targets for the mine’s operating period. For 2027, Newmont expects production to increase in the low-to-mid single digits while unit costs rise. Its outlook includes an expected decline of about 30% in silver production at Peñasquito, along with inflationary pressure on labor and other inputs. Newmont also listed weather effects at Lihir from El Nino, macroeconomic headwinds and lower co-product credits as risks to near-term and 2027 performance. In its Oct. 22 third-quarter update, Newmont said its 2026 attributable gold production guidance of 5.3 million ounces remained on track and that its full-year cost outlook had improved. The company’s [third-quarter results]() provide that earlier context. ## Links in this article - [third-quarter results](https://www.tokenpost.com/news/business/39012)