
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: FRIDAY, September 10, 1993                   TAG: 9309100152
SECTION: BUSINESS                    PAGE: A-7   EDITION: NEW RIVER VALLEY 
SOURCE: 
DATELINE: RICHMOND                                LENGTH: Short

REYNOLDS METALS MAY SELL ITS STAKE IN WESTERN AUSTRALIAN GOLD MINE

Reynolds Metals Co. said Thursday it is considering selling its 40 percent interest in Australia's third-largest gold-mining operation.

Boddington Gold Mine, near Perth in western Australia, has been operating since 1987. Last year it produced about 350,000 ounces of gold. The mine is operated by Worsley Alumina Pty. Ltd. on behalf of a joint venture that also includes Billiton Australia Gold Pty. Ltd., 30 percent; Newcrest Mining Ltd., 20 percent; and Kobe Alumina Associates Pty. Ltd., 10 percent.

Reynolds will continue to operate its wholly owned gold-mining interests in western Australia, including Reynolds Mount Gibson Gold and Reynolds Yilgard Gold. The two operations produced 165,000 ounces of gold in 1992. - Associated Press

by CNB