US gold miner Newmont will take control of the nation's biggest gold project after signing a $US1 billion ($1.4 billion) deal to buy AngloGold Ashanti's one-third stake in the soon-to-start Boddington mine.

The sale gives AngloGold up to $US170 million on top of its to-date capital spend on the $US2.6 billion to $US2.9 billion project in the south of Western Australia.

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Posted by boyang at January 29, 2009 7:41 AM