Newmont Mining buys Miramar for $1.5 billion

Newmont Mining Co.'s deal Tuesday to buy Miramar Mining for $1.5 billion will give the Denver-based gold giant a 100 percent stake in a promising, largely unexplored field in the Canadian Arctic.

The offer - a 20 percent premium over Vancouver, Canada-based Miramar's closing price last Friday - also is consistent with Newmont CEO Richard O'Brien's recent moves to focus purely on gold, and to restock reserves.

But some analysts wondered if Newmont overpaid.

Read Full Article from Rocky Mountain News

- Posted: 2007-10-10 10:14:17

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