News: SAR Australia's Northern Star to buy 50% stake in KCGM for $800 mln

Dec 17 (Reuters) - Gold miner Northern Star Resources Ltd (NST) said on Tuesday it had entered into an agreement with Australian unit of Newmont Gold Corp NEM.N to buy 50% stake in Kalgoorlie Consolidated Gold Mines (KCGM) for $800 million.

KCGM is a joint venture between Newmont and Saracen Mineral Holdings (SAR) and includes the super pit in Kalgoorlie, Western Australia, among other deposits.

Northern Star said the deal would be funded through A$480 million ($325.73 million) in debt, A$765 million institutional placement and a share purchase plan targeting to raise up to A$50 million.

($1 = 1.4736 Australian dollars)