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Newmont says plans to build gold mine in Suriname

Reuters

July 29 (Reuters) - Newmont Mining Corp said on Tuesday it plans to develop a new gold mine in Suriname. The mine is expected to start production late in 2016.

Newmont, the biggest U.S. gold miner, said it will invest about $900 million to $1 billion to build the Merian gold mine. The project contains gold reserves of 4.2 million ounces and is expected to produce an average of 300,000 ounces to 400,000 ounces of gold a year, Newmont said in a statement.

(Reporting by Nicole Mordant in Vancouver; Editing by David Gregorio)