Newmont’s Mine is on Track

Article Excerpt

NEWMONT MINING $41.39 (New York symbol NEM; SI Rating: Average) aims to start operations at its 66.7%-owned Boddington gold mine in Australia in early 2009. The $2 billion mine is now 77% complete. With forecast annual production of one million ounces of gold and 30,000 tonnes of copper for at least 15 years, Boddington should expand Newmont’s annual production by around 10%. The company is also evaluating the feasibility of recovering molybdenum (a mineral used to strengthen steel) from the Boddington mine. For aggressive investors who want to hedge against — or bet on — a renewed rise in gold prices, Newmont Mining is a buy. buy…