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newmont considering sale of supper pit

  1. FiendishRedbeard
    7,936 Posts.
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    05/08/08
    10:03
    Post #: 4073093
    Newmont considering sale of Australia mine
    Mon Aug 4, 2008 9:17pm BST

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    [-] Text [+] NEW YORK, Aug 4 (Reuters) - Newmont Mining Corp (NEM.N: Quote, Profile, Research) on Monday said it was considering strategic options, including a sale, for its 50 percent stake in Kalgoorlie Consolidated Gold Mines (KCGM), one of Australia's largest gold mines.

    Newmont spokesman Omar Jabara said the company was examining options for its stake in the mine. Barrick Gold Corp (ABX.TO: Quote, Profile, Research) owns the other half of the mine.

    KCGM produces about 850,000 ounces of gold a year for the companies.

    Barrick could not be immediately reached for comment. (Reporting by Michael Erman; editing Carol Bishopric)
    NEM Price at posting: 0.0¢ Sentiment: None Disclosure: Not Held
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