NEWMONT MINING CORP REDUCES STAKE IN PEABODY

  Newmont Mining Corp said it completed
  the previously announced reduction of its share in &lt;Peabody
  Holding Co Inc> to 49.97 pct from 61.47 pct.
      Newmont realized 116.8 mln dlrs in the transaction.
      For 1986, Newmont reported net income of 74.2 mln dlrs.
  Peabody, the largest coal producer in the U.S., had net income
  of 100.8 mln dlrs on sales of 1.4 billion dlrs in 1986.
      Newmont doubled its ownership in Peabody in January by
  purchasing 30.74 pct interest held by the Williams Cos for 320
  mln dlrs.
      The reduction resulted from completion of an earlier
  announced agreement by Peabody to sell a 15.01 pct interest in
  the company to Eastern Gas and Fuel Associates in exchange for
  all the coal properties owned by Eastern.
  

