Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Investing

Newmont Completes Divestitures With US$425 Million Sale to Discovery Silver

by admin January 28, 2025
January 28, 2025
Newmont Completes Divestitures With US$425 Million Sale to Discovery Silver

Newmont (TSX:NGT,NYSE:NEM) announced the final phase of its divestiture program through an agreement to sell its Porcupine operation in Ontario, Canada, to Discovery Silver (TSX:DSV,OTCQX:DSVSF).

Total consideration for the sale comes to US$425 million, comprised of US$200 million in cash to be paid upon closing, US$75 million in Discovery Silver shares and US$150 million in deferred cash payments.

The sale is anticipated to close in the first half of 2025, subject to regulatory approvals and other conditions.

According to Newmont President and CEO Tom Palmer, this divestiture represents the final phase of the company’s strategic shift to focus on Tier 1 assets, ensuring long-term operational and financial efficiency.

Palmer expressed confidence in Discovery Silver’s ability to manage the Porcupine operation responsibly, given the company’s experience and established presence in the region. The transaction concludes Newmont’s non-core asset divestiture program, which is expected to generate as much as US$4.3 billion in gross proceeds.

Newmont’s divestiture program was launched in February 2024, and targeted the sale of six operations and two projects across Australia, Ghana and North America. With agreements now finalized for all assets identified for sale, Newmont expects to generate US$3.8 billion from divestitures and an additional US$527 million from the sale of investments, including the Lundin Gold (TSX:LUG,OTCQX:LUGDF) stream credit facility and contingent payments from Batu Hijau.

The assets sold by Newmont include Telfer and its 70 percent interest in the Havieron project for up to US$475 million, the Akyem operation in Ghana for up to US$1 billion and Musselwhite in Ontario for up to US$850 million.

Aside from that, the major gold miner’s Éléonore operation in Québec was sold for US$795 million, while its Cripple Creek & Victor operation in Colorado, US, was divested for up to US$275 million.

Discovery Silver plans to continue exploration and production activities at Porcupine, which is located in Ontario’s Timmins Mining Camp. The company said the purchase aligns with its broader growth objectives.

Newmont will now focus on high-performing Tier 1 operations across its global portfolio. The company operates in jurisdictions that include Africa, Australia, Latin America, North America and Papua New Guinea.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
Vale Launches Strategic Review of Thompson Nickel Operations Amid Market Challenges
next post
Agnico Eagle Secures Majority Stake in O3 Mining, Extends Offer Deadline

Related Posts

Crypto Market Update: Bitcoin ETFs Shed US$1.46 Billion...

August 7, 2025

First Quantum Secures US$1 Billion in Gold Stream...

August 7, 2025

Top 5 NASDAQ Biotech Stocks

July 11, 2024

Providence Gold Mines Inc. Announces Extension of Private...

January 17, 2025

First Nation Sues McEwen Mining Over Alleged Breach...

February 26, 2025

Top 5 Life Science ETFs in 2024

November 20, 2024

Nutura Organic Ltd – Term Sheet to commence...

May 14, 2024

Stock Markets Plunge as Trump’s New Tariffs Shake...

March 6, 2025

Stillwater, USSM Sign MOU to Accelerate US Critical...

October 11, 2024

Strategic Business Review Update

March 4, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • CDC official who blasted Trump’s ‘weak science’ led politicized Biden-era monkeypox response

      August 31, 2025
    • Epstein estate to hand over ‘birthday book’ to lawmakers, House Dem says

      August 31, 2025
    • Dyan Cannon denied White House entry after lying about her age on passport documents

      August 31, 2025
    • Israel eliminates Houthi prime minister in Yemen airstrike targeting senior government officials

      August 31, 2025
    • Sen. Bernie Sanders calls on RFK Jr. to resign following departure of CDC officials

      August 31, 2025

    Categories

    • Business (1,092)
    • Investing (2,943)
    • Politics (3,595)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved