DENVER, Colorado NEWMONT MINING has sold 28 million of the 43.2 million KINROSS GOLD shares it held. The shares were bought by a group of investment dealers for resale in Canada and on a private placement basis outside Canada. Newmont’s share of Kinross will fall to about 4.9% when the deal is completed.
Newmont has realized pre-tax cash proceeds of US$218 million after transaction costs. On Wednesday, Sept. 17, Newmont shares were selling for US$39.05.