Newcrest sells 50% stake in Hidden Valley

Newcrest Mining is getting out of its Hidden Valley joint venture by selling its 50 per cent stake and other exploration tenements to Harmony Gold Mining.

Coal is stockpiled — Newcrest Mining has agreed to sell its 50 per cent stake in the Hidden Valley joint venture. (AAP)

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Published 19 September 2016 10:38am

Source: AAP

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Newcrest Mining has agreed to sell its 50 per cent stake in the Hidden Valley joint venture, including the Hidden Valley mine in Papua New Guinea, to its partner Harmony Gold Mining.

The group will also offload its 50 per cent interest in three regional exploration tenements near the Hidden Valley mine to Harmony.

Newcrest on Monday said it expects to book a loss on the two deals of about $US10 million ($A13 million).

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