Sept 10 (Reuters) - Newmont ( NEM ) has applied for a

voluntary delisting of its common shares from the Toronto Stock

Exchange due to low trading volumes, the world's top gold miner

said on Wednesday.

The move, expected to be effective on or about the close of

trading September 24, is likely to improve the administrative

efficiency and reduce costs.

The company will maintain its primary listing on the New

York Stock Exchange. It will also support its listings on the

Australian Securities Exchange and the Papua New Guinea Stock

Exchange.

Last year, the miner had announced plans to divest non-core

assets, trim workforce and cut debt following its $17.14 billion

acquisition of Australian firm Newcrest.

Bloomberg News reported in August that Newmont ( NEM ) has set a

target of reducing costs by $300 per ounce, which could lead to

thousands of layoffs.

The company said on Wednesday it does not intend to seek

security holder approval in relation to the delisting, as the

shares currently trade on alternative markets.