Newmont Announces Agreement To Divest Telfer And Havieron For Up To $475M, Sale Is Part Of Newmont's $2B Non-Core Asset Divestiture Program, Expected To Close In Q4 2024; Says Fully On Track To Deliver 2024 Commitments

Author: Benzinga Newsdesk | September 10, 2024 12:07pm

2024 Tier 1 Portfolio Guidance Maintained, Non-Core Guidance Updated

Newmont Corporation (NYSE:NEM, TSX:NGT, ASX: NEM, PNGX: NEM))))) announces today, as part of its ongoing program to divest non-core assets, it has agreed to sell the Telfer operation, Newmont's 70% interest in the Havieron gold-copper project (Havieron), and other related interests in the Paterson region, all in Australia, to Greatland Gold plc (AIM:GGP) (Greatland). The transaction is expected to close in the fourth quarter of 2024, subject to certain conditions being satisfied.1

Under the terms of the agreement, Newmont expects to receive gross proceeds of up to $475 million, which includes:

• Cash consideration of $207.5 million, due upon on closing2
• Equity consideration of $167.5 million in the form of Greatland shares, to be issued upon closing
  • Deferred contingent cash consideration of up to $100 million3

Posted In: NEM TSX:NGT