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Newmont Announces Agreement for Sale of Éléonore to Dhilmar for $795 Million

Nov 25, 2024•over 1 year ago

Contract Type

agreement

DenverMiningPrecious MetalsMineralMining Technology

Description

Newmont Corporation has announced that it has agreed to sell its Éléonore operation in Northern Quebec, Canada, to Dhilmar Ltd for $795 million in cash consideration. The transaction is expected to close in the first quarter of 2025, subject to certain conditions being satisfied. With this sale, Newmont will have delivered up to $3.6 billion in gross proceeds from non-core asset divestitures and investment sales. The proceeds from this transaction will support Newmont’s comprehensive approach to capital allocation.

Company Information

Company

Newmont Corporation

Location

Denver, Colorado, United States

About

Newmont is the world’s leading gold company and a producer of copper, zinc, lead, and silver. The company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the company has been publicly traded since 1925.

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