Newmont To Sell Lonore Operation In Northern Quebec To Dhilmar For $795 Mln In Cash

(RTTNews) - Gold miner Newmont Corp. (NEM, NGT.TO, NEM.AX) announced Monday that it has agreed to sell its Eleonore 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.

Upon closing the announced transactions, Newmont will have delivered up to $3.6 billion in gross proceeds from non-core asset divestitures and investment sales

In February 2024, Newmont announced the intent to divest its non-core assets, including six operations and two projects from its Australian, Ghanaian, and North American business units.

With definitive agreements in place to divest four operations and one project, the Company is focused on completing the sales processes for its remaining North American non-core assets, which are expected to conclude in the first quarter of 2025.