Newmont Mining Corp (NEM.N) has agreed to buy Fronteer Gold Inc (FRG.TO) for C$2.3 billion ($2.3 billion), extending its presence in the western United States as bullion prices hover near record highs. The cash and stock transaction - the latest in a string of deals targeting Canadian miners - will add 4.2 million ounces of gold resource to the portfolio of the world's second-largest gold producer. "This acquisition of Fronteer Gold is in line with some of the more recent acquisitions in the gold space, where major mining companies have been going after very high quality assets," said Adam Graf, a mining equity analyst for Dahlman Rose in New York.
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