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Gold/Mining/Energy : Newmont Mining Becomes Largest Mine In US - Buys Sante Fe
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To: SStam who wrote (15)4/2/1997 4:13:00 PM
From: SStam   of 65
 
For Investors interested in solvent senior gold mines, here is more good news about Nemont Mining:

BISHKEK, April 1 (Reuter) - Newmont Mining Corp <NEM.N> of the United States will set up a gold-mining joint venture with Kyrgyzstan, a spokesman for the former Soviet republic's state gold concern Kyrgyzaltyn said on Tuesday.

The official said a formal agreement would be signed April 8, but he gave no details on where Newmont would carry out its activities nor the cost of the project.



Kyrgyzstan, a mountainous Central Asian state with a population of 4.5 million people, has major gold reserves but few foreign mining investors.

Last year, Canada's Cameco <CCO.TO> Corp began extracting gold from Kyrgyzstan's largest goldfield, Kumtor, which has estimated reserves of 514 tonnes and is one of the ten largest deposits in the world.

But Kyrgyzstan has been reluctant to open up other reserves to outside companies.

--Almaty Newsroom, +7 3272 509410

08:43 04-01-97
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