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No 'fire sale' coming for assets, Newmont CEO says

|About: Newmont Goldcorp Corporation (NEM)|By:, SA News Editor

Newmont Goldcorp (NEM +2.8%) would sit tight on asset sales even if it means not reaching a previously announced goal of as much as $1.5B in divestments, incoming CEO Tom Palmer says.

NEM will focus on optimizing its current assets and is happy overall with its portfolio, other than a previously announced sale of Red Lake in Canada, Palmer tells the Denver Gold Forum, saying "there will be no fire sale" at the company.

Outgoing CEO Gary Goldberg said earlier this month that NEM was planning to divest as much as $1.5B in assets following its April takeover of Goldcorp, taking advantage of higher gold prices.

NEM's apparent pullback from asset sales fits an overall cautious tone at the Denver conference, according to Bloomberg; even with gold prices trading at ~$1,500/oz., mining execs in presentations and interviews have said they would exercise more discipline when it comes to making deals.

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