Oct 28 (Reuters) - Newmont Mining Corp (N:NEM) NEM.N on Wednesday announced plans to expand its Tanami gold mining operation in Australia by building a second decline in the underground mine and adding plant capacity.
Newmont, the biggest U.S.-based gold miner, said the expansion project will add gold production of about 80,000 ounces a year and reduce Tanami's all-in sustaining costs by 5 percent to 10 percent in the first five years.
The expansion will extend the mine's life by three years.