ELKO, Nevada NEWMONT MINING, the world's largest gold producer, is the first Quadrem eMarketplace member to take advantage of the new partnership of QUADREM and DOVEBID offering on-line auctions of mining equipment. The auction will be held on Nov. 12, 2003, beginning at noon Eastern Time and lasting until 9:00 p.m. A list of featured items is posted at www.dovebid.com. All the requirements for participation in the auction and the sale-specific terms and conditions are available at the same site.
The Newmont equipment going on the block includes plant equipment, light vehicles, a crushing circuit, silos, blasthole drills, graders, loaders, dozers and a shovel. The assets are located at various sites throughout Nevada and in California.
The alliance between Quadrem and DoveBid gives Quadrem customers access to turnkey asset disposition services, global asset-based valuation services, and asset redeployment software. Quadrem, with its web site at www.quadrem.com, is the global leader in web-based services and solutions for the natural resources industry. Transactions handled by Quadrem's eMarketplace total over US$915.38 million so far this year, well on the way to the US$1-billion goal for 2003.