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Homestake Mining Co., based in San Francisco,...

Homestake Mining Co., based in San Francisco, will invest almost $100 million ($117 million Australian) in a venture with Australian businessman Alan Bond. Homestake’s 80%-owned Homestake Gold of Australia Ltd. plans to team up with a chain of Bond International Gold Inc.-controlled companies to own and manage some of Australia’s richest gold leases in Western Australia. The deal aims at a gold mine yielding 800,000 ounces a year by 1991, seven times current output.


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