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Private equity buyer Waterton Global Resource Management Inc. is closing in on an acquisition of another gold mine in Nevada. The investment firm is planning to buy the property from Colorado-based gold and copper giant Newmont Mining Corp. The underground mine is called Midas, and it is already pumping out yellow metal.
Private equity buyer Waterton Global Resource Management Inc. is closing in on an acquisition of another gold mine in Nevada. The investment firm is planning to buy the property from Colorado-based gold and copper giant Newmont Mining Corp. The underground mine is called Midas, and it is already pumping out yellow metal.
(AP)

Goldcorp and Barrick reportedly selling Nevada mine

Goldcorp Inc. and Barrick Gold Corp. are in talks to sell their Marigold mine in Nevada, sources familiar with the matter said on Friday.

Goldcorp owns a 66.7 per cent stake in the mine and Barrick owns the rest.

With the price of bullion languishing below $1,300 an ounce, Goldcorp, Barrick and other mining companies are looking for ways to reduce expenses. That includes selling assets which are not as profitable in a weak gold-price environment.