A major U.S. miner, Newmont Mining, is selling its stake in an Australian gold miner. Increases in interest rates might happen, after all, at this week’s Federal Reserve meetings.
Newmont to Sell Regis Stake
U.S. gold giant Newmont Mining said it is selling its stake in Australian miner Regis Resources to institutional investors for $182 million.
Newmont, which is taking advantage of a sustained rally in the price of gold and the rising value of Australian gold miners, said it would sell its entire 19.45% interest, or 97.2 million shares.
Interest Rate Hikes Back?
Interest rate hikes at the Federal Reserve‘s March meeting tomorrow and Wednesday are, reportedly, back from the dead.
This was unexpected as most believed the Fed would hold rates after increasing them at its last meeting.