Gold miner Newmont Mining Corp has delivered a record US$2.3 billion net profit for 2010 on improved operating margins and the rising gold price.

The profit result was a 76% improvement on 2009, while net income gained 39% to US$1.9 billion, also a record. Newmont’s operating margins grew by 30% to US$737/oz due to a rise in the average realised gold price of US$1222/oz.

Another record was achieved for operating cash flow, which reached US$3.9 billion against US$2.9 billion a year earlier. Revenue rose by 24% on 2010 to a record US$9.5 billion.