{"id":820598,"date":"2025-03-03T09:03:54","date_gmt":"2025-03-03T14:03:54","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/newmont-completes-the-sale-of-musselwhite-eleonore-and-ccv\/"},"modified":"2025-03-03T09:03:54","modified_gmt":"2025-03-03T14:03:54","slug":"newmont-completes-the-sale-of-musselwhite-eleonore-and-ccv","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/newmont-completes-the-sale-of-musselwhite-eleonore-and-ccv\/","title":{"rendered":"Newmont Completes the Sale of Musselwhite, \u00c9l\u00e9onore, and CC&amp;V"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Newmont Completes the Sale of Musselwhite, \u00c9l\u00e9onore, and CC&amp;V<\/b><\/p>\n<p class=\"bwalignc\"><i>Received $1.7 Billion in Cash Proceeds to Date in 2025<sup>1<\/sup><\/i><\/p>\n<p>DENVER&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.newmont.com%2Fhome%2Fdefault.aspx&amp;esheet=54217479&amp;newsitemid=20250303230880&amp;lan=en-US&amp;anchor=Newmont+Corporation&amp;index=1&amp;md5=509dd6b0015636ce0447a5a5690d5e8b\">Newmont Corporation<\/a> (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) (\u201cNewmont\u201d or the \u201cCompany\u201d) announced today that it has completed the previously disclosed sales of three non-core operations, including the Musselwhite and \u00c9l\u00e9onore operations in Canada and the Cripple Creek &amp; Victor (\u201cCC&amp;V\u201d) operation in Colorado, USA.<\/p>\n<p>\n\u201cToday, I am pleased to announce the successful divestment of three more of our non-core assets, generating total after-tax cash proceeds of $1.7 billion before closing adjustments,\u201d said<b> Tom Palmer, Newmont\u2019s President and Chief Executive Officer<\/b>. \u201cWe look forward to completing the remaining two asset sales and expect to receive an approximate $0.8 billion in after-tax cash proceeds during the first half of 2025 for those assets. The closing of these transactions completes a significant portion of our strategic portfolio optimization, initiated in early-2024, and enables us to further strengthen our investment-grade balance sheet and continue returning capital to shareholders through ongoing share repurchases.\u201d<\/p>\n<p>\nTotal gross proceeds from announced divestitures are expected to total up to $4.3 billion, which includes $3.8 billion from non-core divestitures and $527 million from the sale of other investments.<\/p>\n<p>\nNewmont expects to close the sale of its Akyem operation in Ghana and its Porcupine operation in Canada during the first half of 2025. As previously announced, the sale of these assets is expected to generate up to $1.4 billion in gross proceeds, detailed as follows:<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nUp to $1.0 billion from the sale of the Akyem operation, including $900 million in cash consideration due upon closing and a further $100 million is expected to be received upon the satisfaction of certain conditions.<\/p>\n<\/li>\n<li>\nUp to $425 million from the sale of the Porcupine operation, including $200 million in cash consideration and $75 million equity consideration due upon closing. The Company also expects to receive up to $150 million in deferred cash consideration.<\/p>\n<\/li>\n<\/ul>\n<p><b>About Newmont<\/b><\/p>\n<p>\nNewmont is the world\u2019s leading gold company and a producer of copper, zinc, lead, and silver. The Company\u2019s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America &amp; Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&amp;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.<\/p>\n<p>\nAt Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont\u2019s sustainability strategy and initiatives, go to <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.newmont.com%2F&amp;esheet=54217479&amp;newsitemid=20250303230880&amp;lan=en-US&amp;anchor=www.newmont.com&amp;index=2&amp;md5=d35b2ed537b2af17669bcd371948bfdb\">www.newmont.com<\/a>.<\/p>\n<p><b>Cautionary Statement Regarding Forward-Looking Statements<\/b><\/p>\n<p>\nThis news release contains \u201cforward-looking statements\u201d within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. Forward-looking statements in this news release include, without limitation, (i) expectations regarding the pending sales of Porcupine and Akyem, including, without limitation, expectations regarding timing and closing of the pending transactions, including receipt of required approvals and satisfaction of closing conditions; (ii) expectations regarding receipt of any deferred contingent cash consideration in the future and gross consideration estimates; (iii) future strategic portfolio optimization, (iv) future financial conditions and balance sheet strength, (v) future return of capital to shareholders, including share repurchases, and (vi) other statements regarding future events or results. Estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect. Assumptions include, but are not limited to: (i) certain exchange rate assumptions approximately consistent with current levels; (ii) certain price assumptions for gold, copper, silver, zinc, lead and oil; (iii) all closing conditions being satisfied, and (iv) conditions necessary for receipt of contingent consideration being met in the future. See the September 10, 2024 press release for further details re the agreement to divest Telfer and Havieron, the October 8, 2024 press release for further details re the agreement to divest Akyem, the November 18, 2024 press release for further details re the agreement to divest Musslewhite, the November 25, 2024 press release for further details re the agreement to divest \u00c9l\u00e9onore, the December 6, 2024 press release for further details re the agreement to divest CC&amp;V, and the January 27, 2025 press release for further details re the agreement to divest Porcupine. Each are available on Newmont\u2019s website. For a discussion of risks and other factors that might impact future looking statements , see the Company\u2019s Annual Report on Form 10-K for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d) on February 21, 2025, under the heading \u201cRisk Factors&#8221; (including without limitation under the subheading the headings &#8220;Assets held for sale may not ultimately be divested and we may not receive any or all deferred consideration&#8221; and &#8220;The Company\u2019s asset divestitures place demands on the Company\u2019s management and resources, the sale of divested assets may not occur as planned or at all, and the Company may not realize the anticipated benefits of such divestitures&#8221; ), available on the SEC website or at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.newmont.com&amp;esheet=54217479&amp;newsitemid=20250303230880&amp;lan=en-US&amp;anchor=www.newmont.com&amp;index=3&amp;md5=a126c4d38d36d48b838b5bb05e17dc33\">www.newmont.com<\/a>. Investors are also cautioned that the extent to which the Company repurchases its shares, and the timing of such repurchases, will depend upon a variety of factors, including trading volume, market conditions, legal requirements, business conditions and other factors. The repurchase program may be discontinued at any time, and the program does not obligate the Company to acquire any specific number of shares of its common stock or to repurchase the full $2.0 billion amount during the authorization period. The Company does not undertake any obligation to release publicly revisions to any \u201cforward-looking statement,\u201d including, without limitation, outlook, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued \u201cforward-looking statement\u201d constitutes a reaffirmation of that statement.<\/p>\n<p><i><sup>1<\/sup><\/i><i> Represents after-tax cash proceeds before closing adjustments.<\/i><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250303230880r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250303230880\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250303230880\/en\/<\/a><\/span><\/p>\n<p>\nInvestor Contact \u2013 Global<br \/>\n<br \/>Neil Backhouse<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:investor.relations@newmont.com\">investor.relations@newmont.com<\/a><\/p>\n<p>\nInvestor Contact \u2013 Asia Pacific<br \/>\n<br \/>Natalie Worley<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:apac.investor.relations@newmont.com\">apac.investor.relations@newmont.com<\/a><\/p>\n<p>\nMedia Contact \u2013 Global<br \/>\n<br \/>Shannon Lijek<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:globalcommunications@newmont.com\">globalcommunications@newmont.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Colorado North America United States Australia Australia\/Oceania Canada<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Mining\/Minerals Natural Resources<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250303230880\/en\/765162\/3\/Newmont-Color-RGB.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Newmont Completes the Sale of Musselwhite, \u00c9l\u00e9onore, and CC&amp;V Received $1.7 Billion in Cash Proceeds to Date in 20251 DENVER&#8211;(BUSINESS WIRE)&#8211;Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) (\u201cNewmont\u201d or the \u201cCompany\u201d) announced today that it has completed the previously disclosed sales of three non-core operations, including the Musselwhite and \u00c9l\u00e9onore operations in Canada and the Cripple Creek &amp; Victor (\u201cCC&amp;V\u201d) operation in Colorado, USA. \u201cToday, I am pleased to announce the successful divestment of three more of our non-core assets, generating total after-tax cash proceeds of $1.7 billion before closing adjustments,\u201d said Tom Palmer, Newmont\u2019s President and Chief Executive Officer. \u201cWe look forward to completing the remaining two asset sales and expect to receive an approximate $0.8 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/newmont-completes-the-sale-of-musselwhite-eleonore-and-ccv\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Newmont Completes the Sale of Musselwhite, \u00c9l\u00e9onore, and CC&amp;V&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-820598","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/newmont-completes-the-sale-of-musselwhite-eleonore-and-ccv\/","og_locale":"en_US","og_type":"article","og_title":"Newmont Completes the Sale of Musselwhite, \u00c9l\u00e9onore, and CC&amp;V - Market Newsdesk","og_description":"Newmont Completes the Sale of Musselwhite, \u00c9l\u00e9onore, and CC&amp;V Received $1.7 Billion in Cash Proceeds to Date in 20251 DENVER&#8211;(BUSINESS WIRE)&#8211;Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) (\u201cNewmont\u201d or the \u201cCompany\u201d) announced today that it has completed the previously disclosed sales of three non-core operations, including the Musselwhite and \u00c9l\u00e9onore operations in Canada and the Cripple Creek &amp; Victor (\u201cCC&amp;V\u201d) operation in Colorado, USA. \u201cToday, I am pleased to announce the successful divestment of three more of our non-core assets, generating total after-tax cash proceeds of $1.7 billion before closing adjustments,\u201d said Tom Palmer, Newmont\u2019s President and Chief Executive Officer. \u201cWe look forward to completing the remaining two asset sales and expect to receive an approximate $0.8 &hellip; Continue reading \"Newmont Completes the Sale of Musselwhite, \u00c9l\u00e9onore, and CC&amp;V\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/newmont-completes-the-sale-of-musselwhite-eleonore-and-ccv\/","og_site_name":"Market Newsdesk","article_published_time":"2025-03-03T14:03:54+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250303230880r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/newmont-completes-the-sale-of-musselwhite-eleonore-and-ccv\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/newmont-completes-the-sale-of-musselwhite-eleonore-and-ccv\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Newmont Completes the Sale of Musselwhite, \u00c9l\u00e9onore, and CC&amp;V","datePublished":"2025-03-03T14:03:54+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/newmont-completes-the-sale-of-musselwhite-eleonore-and-ccv\/"},"wordCount":1159,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/newmont-completes-the-sale-of-musselwhite-eleonore-and-ccv\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250303230880r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/newmont-completes-the-sale-of-musselwhite-eleonore-and-ccv\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/newmont-completes-the-sale-of-musselwhite-eleonore-and-ccv\/","name":"Newmont Completes the Sale of Musselwhite, \u00c9l\u00e9onore, and CC&amp;V - 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