Gold miner Kinross said on Wednesday it will sell part of its 50% interest in the Cerro Casale mine in Chile to joint venture fellow Barrick. The buying company will pay US$ 475 million for a 25% stake at the project while Kinross will retain the other 25%. The project has estimated resources of over 21 million ounces of gold and 2.2 million tonnes of copper. Overall investment at the site is about US$ 4.3 billion, according to Kinross CEO Tye Burt, who said that much spending “does not make sense” for the company, which decided to sell a stake.