Newmont sells ‘non-core’ Jundee gold mine for US$91mn
By GCRU Gold News on Tuesday, May 13 2014, 19:16 - Permalink
In its fourth acquisition during the current financial year, gold miner Northern Star Resources (ASX: NST) has agreed to pay US$91 million) in cash for Newmont’s Jundee underground gold mine in the northern Yandal Belt of Western Australia.
Jundee, which produced 290,000 gold ounces in 2013, is expected to increase Northern Star’s production from 350,000 ounces to 550,000 ounces in FY2015, making it the second largest ASX-listed gold miner. Jundee’s all-in sustaining cost in CY2013 was A$930/oz. Mined since 1995, it is believed to have two to three years of mine life remaining.