Gold mining operation Newmont secures mining lease ratification, paving the way for a $100 million payout.
Newmont Corporation Announces $3.1 Billion in Divestiture Proceeds
Newmont Corporation, a leading gold producer and a significant player in the mining industry, has announced that it expects to generate approximately $3.1 billion in total after-tax cash proceeds from its 2025 divestiture program. This program includes the sale of assets and equity shares.
The breakdown of these proceeds is as follows:
- Around $2.6 billion is expected from the sale of divested mining assets.
- Approximately $470 million will come from the sale of equity shares in Greatland Resources Limited and Discovery Silver Corp.
These proceeds will support Newmont's capital allocation priorities, which include reducing outstanding debt and returning capital to shareholders.
The total after-tax cash proceeds from the sale of the Akyem operation by Newmont now amounts to approximately $770 million, with an additional $100 million received from Zijin Mining Group Co., Ltd., following the ratification of the Akyem East Mining Lease by the Parliament of Ghana.
Newmont, which was founded in 1921 and has been publicly traded since 1925, operates in favorable mining jurisdictions across Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. The company is the only gold producer listed in the S&P 500 Index and is recognized for its principled environmental, social, and governance practices.
However, it's important to note that uncertainties in geopolitical conditions could impact certain planning assumptions, including commodity and currency prices, costs, and supply chain availabilities. Other uncertainties include general macroeconomic uncertainty, changing market conditions, restrictions on the mining industry, impacts to supply chain, and geopolitical conditions.
Investors should not assume that any lack of update to a previously issued "forward-looking statement" constitutes a reaffirmation of that statement. Forward-looking statements in this news release include expectations regarding receipt of unpaid contingent consideration and proceeds.
For additional discussion of risks and other factors that might impact forward-looking statements, see the Company's Annual Report on Form 10-K for the year ended December 31, 2024. Newmont does not undertake any obligation to release publicly revisions to any "forward-looking statement," except as may be required under applicable securities laws.
For media and investor relations, contact information is provided in the news release. Newmont Corporation is an industry leader in value creation, with robust safety standards, superior execution, and technical expertise.
- Newmont Corporation's generated proceeds from the divestiture program, estimated at $3.1 billion, will be channeled towards business priorities such as debt reduction and shareholder capital return.
- The finance sector will play a role in the sale of equity shares from Newmont Corporation, with approximately $470 million expected to come from this sale alone.
