NovaGold Seeks Buyer For $2.6B Copper Mine Stake

Law360, New York (February 22, 2012, 3:21 PM EST) -- Canadian miner NovaGold Resources Inc. said Wednesday it was moving ahead with plans to sell its 50 percent stake in a $5.2 billion Canadian copper mine to focus on an Alaska project thought to hold one of the world's biggest untapped gold deposits.

The company said it is talking with prospective buyers for its share of the Galore Creek mine, which it jointly owns with Teck Resources Ltd., and anticipates a sale later this year.

The move comes just weeks after NovaGold announced it would spin...
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