CORRECTED-UPDATE 2-Newmont CEO to step down, COO to succeed him

Mon Dec 3, 2012 2:14pm EST
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(Corrects headline, bullet point and paragraph 2 to make clear O'Brien is stepping down as CEO and retiring from the board; corrects paragraph 5 to 'falling output' from 'depleting reserves')

* O'Brien step down as CEO March 1, retire from board

* New CEO faces falling gold output, rising costs

* Shares fall 2.2 percent to $46.06 on NYSE

By Julie Gordon and Bhaswati Mukhopadhyay

Dec 3 (Reuters) - Newmont Mining Corp said on Monday Chief Executive Richard O'Brien will step down on March 1, making Newmont the third major gold miner to announce the departure of its CEO this year.

The world's No.2 gold producer said its current chief operating officer and president, Gary Goldberg, will take the reins from O'Brien, who is also retiring from his position on the Newmont board.

The leadership change comes as the world's top gold miners are scrambling to replace reserves and boost production, all while keeping soaring costs under control.

The struggle has already claimed Aaron Regent, who was ousted from the top job at Barrick Gold Corp in June, and Tye Burt, who lost his job at Kinross Gold Corp in August.   Continued...