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BRIEF-Newcrest Mining updates on sale of Hidden Valley interest

Published 19/09/2016, 09:11 am
© Reuters.  BRIEF-Newcrest Mining updates on sale of Hidden Valley interest
NCM
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Sept 18 (Reuters) - Newcrest Mining Ltd NCM.AX :

* Sale of Hidden Valley interest NCM.AX

* Also signed an agreement to sell 50% interest in certain regional exploration

tenements proximate to hidden valley mine to Harmony

* Signed an agreement to sell Newcrest PNG 1 Ltd to a wholly owned

subsidiary of Harmony Gold Mining Company Limited

* Says Newcrest expects to recognise a loss on sale of approximately US$10M

* Says following completion, Harmony will become 100% owner of the Hidden

Valley JV including the hidden valley mine

* Newcrest and Harmony will remain 50 / 50 joint venture partners in the

wafi-golpu project

* As part of the transaction Newcrest has funded Newcrest PNG 1 Ltd with an

amount of US$22.5M

* Source text for Eikon ID:nASXc0kv2p

*

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