Newmont Mining (NYSE:NEM) said today it is in negotiations with several suitors regarding the potential sale of coal assets in Queensland, Australia.
None of the possible acquirers has been named, nor has a sales figure been disclosed.
Newmont, principally a gold miner, said no deadline has been set for a sale.
In its report, Dow Jones Newswires noted the assets include more than 1.2 billion metric tons of thermal coal.
Newmont Mining shares are trading down over .7% Monday.
Also today, Johannesburg-based Harmony Gold Mining (NYSE:HMY) reported a gain in earnings for the full year on rising gold prices.
Profits totaled 617 million rand, compared to 192 million rand in 2010. Headlines earnings rose to 957 million rand, compared to 4 million rand the year prior.
However, the company posted a loss for its final quarter of the year.
New York-listed shares are trading down over 3.8% Monday.
Newmont Mining is the third-largest holding in the Gold Miners ETF (NYSE:GDX), trading down over .5% Monday. Top stocks include Barrick Gold (ABX), Goldcorp (GG), Kinross Gold (NYSE:KGC), and AngloGold Ashanti (NYSE:AU).
Gold itself is trading around $1,736 an ounce Monday, leading the iShares Gold Trust (NYSE:IAU) to trade down about .5%, and the SPDR Gold Shares (NYSE:GLD) to trade down over .5%.
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