NEWMONT <NGC> SETS HIGHER OUTLAYS, GOLD SALES
Newmont Gold Co's business plan
forecasts a boost in capital spending and gold production this
year, the preliminary prospectus for its planned offering of
five mln common shares said.
    Following the offering, which was announced last week,
Newmont Mining Corp <NEM> will own at least 90 pct of Newmont
Gold's 104.5 mln outstanding shares, the prospectus said.
Newmont gold is now a 95 pct owned subsidiary of Newmont
Mining.
    The prospectus said Newmont Gold plans capital spending
totaling 69 mln dlrs this year, up from 18 mln dlrs last year.
Spending is expected to decline to 48 mln dlrs in 1988, 20 mln
dlrs in 1989 and four mln dlrs in 1990 before rising to 11 mln
dlrs in 1991.
    The company said it expects to sell 577,000 ounces of gold
this year, up from 474,000 ounces last year.
    It said gold sales are expected to increase to 777,000
ounces in 1988, and 890,000 ounces in 1989 before declining to
884,000 ounces in 1990 and 852,000 ounces in 1991.
 Reuter
