Gold Exploration in West Africa

[FL]

Newmont (NEM) Exploring in Ghana

Ghana exploration to boost Newmont gold reserves
5/7/2004 8:28:18 PM
By Fiona Ortiz -- Reuters
CBS MARKETWATCH
Company: Newmont Mining Corporation

LIMA, Peru, May 7 (Reuters) - Ghana could be the next big strategic area for leading global gold miner Newmont Mining (NEM) , which expects to increase its mineral reserves this year through exploring in West Africa and elsewhere, the company's top executive said on Friday.
Denver, Colorado-based Newmont's key areas, where it spends 80 percent of exploration money, are Nevada, Peru, Australia and Indonesia, but Ghana has strong potential, Wayne Murdy told reporters at the end of a four-day gold conference in Peru.
"Our next area for growth is West Africa, in Ghana," Murdy said. Newmont acquired the Ghanaian interests when it merged with Australia's Normandy in 2002.
"We thought it was small, (but now) potentially we think it will become our fifth core region. We think we'll continue to make discoveries there," he said of Ghana and the project there.

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