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Thursday, 17th June 2004 (3978 views)

Newmont Mining is to focus more on its gold explorations in Waihi, claiming it has some of the best potential in the world.<BR/><BR/>Over the next two to three years the company plans to boost gold searches and already the number of exploratory rigs has been increased from two to five.<BR/><BR/>Newmont Waihi general manager Dave Ingle, told the Waikato Times: "On a worldwide context it is a very prospective area . . .we continue to find encouraging results."<BR/><BR/>Although previously on the market, Mr Ingle explained that Waihi was recently removed since gold mining potential outweighed the numerous offers it received.<BR/><BR/>Reportedly if the exploration shows positive results the mining firm will possible extend the mine.<BR/><BR/>Exploration spending for the company will now increase from $1 million to $6 million a year for the next three years.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=2847112"/>

 

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