Newmont Boosts Boddington Stake

The mining company will pay A$225 million.
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Newmont Mining

(NEM) - Get Report

announced Monday that it has agreed to acquire Newcrest Mining's 22.22% interest in the Boddington project in Western Australia for 225 million Australian dollars (US$166.5 million).

Newmont's interest in Boddington will now increase to two-thirds, the company said.

Closing of the transaction is subject to Australian Foreign Investment Review Board and Western Australia Ministry of Mines approval. Further details of the deal were not disclosed.

On Monday, Newmont fell 75 cents to $54.05.

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