The world’s largest gold miner, Newmont (NYSE:NEM), has made US$1.7 billion ($2.7 billion) so far in 2025 from the sale of a further three non-core projects in Canada and the US.
The US$48 billion company has completed the previously announced sales of its Musselwhite and Éléonore operations in Canada and the Cripple Creek and Victor operation in Colorado.
CEO Tom Palmer says the sale of these three projects has generated total after-tax cash proceeds of $1.7 billion before closing adjustments.
“We 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,” he says.
“The closing of these transactions completes a significant portion of our strategic portfolio optimisation, 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.”
All up from the announced divestments, Newmont expects to receive US$4.3 billion, including US$3.8 billion from non-core divestitures and $527 million from the sale of other investments.
Newmont expects to close the combined US$1.4 billion sale of its Akyem operation in Ghana and Porcupine operation in Canada in the first half of 2025.
The company, which is the only gold producer listed in the S&P 500 Index, has a portfolio of projects across Africa, Australia, Latin America and the Caribbean, North America, and Papua New Guinea.
Newmont is exhibiting at this year’s Prospectors & Developers Association of Canada (PDAC) Convention at the Metro Toronto Convention Centre, held between 2-5 March.
The convention brings together up to 30,000 attendees from over 130 countries for its educational programming, networking events, as well as business and investment opportunities.
Mining.com.au is an official media partner for the upcoming event.
To register for PDAC 2025 click here.
Write to Angela East at Mining.com.au
Images: Newmont
