Newmont Mining Corp. Kinross Gold are reportedly the leading candidates to take over the Cripple Creek & Victor Gold Mine in Cripple Creek, CO.

The Financial Times reported that Newmont and Kinross have entered talks with AngloGold Ashanti, the current owner of the mine. Iamgold and Goldcorp have also expressed interest in acquiring the mine, the largest gold mine in the United States.

A number of North American miners are expected to try to strengthen their holdings close to home to counterbalance riskier assets overseas.

The Financial Times reported that Kinross has fallen out of favor with investors because of its significant exposure to Russia, source of almost 30 percent of its output, amid increased tension between President Vladimir Putin and the west.

Newmont was embroiled last year in a dispute with Indonesia’s government over its copper and gold mine in the country. It has also run into fierce local opposition to a proposed mine in Peru.

Newmont said this month it would build a mine in Nevada and last year discussed a tie-up with Barrick Gold that would have refocused the merged company on their combined holdings in the state, although the idea was shelved after extensive talks.

AngloGold, the world’s third-largest gold miner by output, would like to sell part or all of Cripple Creek and may try to retain operational control. 

AngloGold’s willingness to sell comes after Srinivasan Venkatakrishnan, chief executive, last year abandoned a proposal to restructure the group into two separate companies. Investors were unhappy at the prospect of a $2.1billion rights issue that would have accompanied the restructuring.

Venkatakrishnan has said AngloGold “will not act in haste” as it seeks to cut its $3.1 billion of net debt by $1 billion within the next three years.

The company is in the final stages of an expansion at Cripple Creek to nearly double annual output. The mine has about 10m oz of gold resources.