April 13, 2011 / 6:17 AM / 6 years ago

UPDATE 1-Newmont Mining acquires 6.7% stake in uranium miner Paladin

* Stake picked up with Newmont takeover of Fronteer

* Paladin shares ease off highs, up 1.4% (Adds details)

MELBOURNE, April 13 (Reuters) - World no. 2 gold producer Newmont Mining has acquired a 6.7 percent stake in Australian uranium miner Paladin Energy , following the completion of Newmont's $2.3 billion takeover of Fronteer Gold.

Canadian miner Fronteer was Paladin's top shareholder.

Paladin's shares jumped as much as 4.8 percent after Newmont's substantial shareholder notice was released to the Australian Securities Exchange, then eased to close up 1.4 percent at A$3.58. The broader market ended up 0.3 percent.

Reporting by Sonali Paul; Editing by Balazs Koranyi

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