The railway parent of Santa Fe Pacific Minerals is spinning off its oil and gas and real estate assets into public companies but has no plans at the moment to take the mining company public. Santa Fe Southern Pacific, in which the Reichmann family of Toronto, through Olympia & York Developments, has an 18.7% interest, will spin off Santa Fe Energy Resources and Catellus Development to shareholders of record as of Nov. 29 by way of a dividend in the form of shares.
Wholly owned Santa Fe Pacific Minerals, which is projecting gold output of 300,000 oz. by 1992, has a 100% interest in the newly opened Rabbit Creek mine in Nevada and a 30% interest in the open pit Marigold mine in Nevada, as well as interests in various other exploration projects in the western U.S.
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