FX.co ★ Newmont To Sell Telfer Operation And 70% Stake In Havieron Project To Greatland Gold

Newmont Corporation (traded as NEM on the NYSE, NGT.TO on the Toronto Stock Exchange, and NEM.AX on the Australian Securities Exchange) has announced an agreement to divest its Telfer operation, 70% stake in the Havieron gold-copper project, and other related interests in Australia's Paterson region to Greatland Gold plc (GGP.L).

The transaction is anticipated to close in the fourth quarter of 2024.

Pursuant to the agreement, Newmont expects to receive up to $475 million in gross proceeds. This comprises $207.5 million in cash payable upon closing, $167.5 million in Greatland shares to be issued upon closing, and deferred contingent cash consideration of up to $100 million.