Newmont nets $470m from equity sales in divested assets


The Greatland equity formed part of the consideration for the Telfer-Havieron transaction in 2024.
Bullion major Newmont on Tuesday announced agreements to sell its equity stakes in Greatland Resources and Discovery Silver, generating about $470-million in net proceeds as part of its portfolio streamlining and capital return strategy.
The shares were received as part of earlier asset divestitures – Greatland in exchange for Newmont’s Telfer operation and 70% stake in the Havieron gold/copper project, and Discovery as part of the Porcupine mine sale finalised earlier this year.
Both investments delivered strong returns, with the Greatland stake achieving an estimated 230% gain, and the Discovery shares returning about 200%, Newmont said in a statement.
The Discovery shares were sold in two tranches, in May and July, after the company agreed to waive provisions under the investor rights agreement tied to the Porcupine transaction. Following the latest divestment, Newmont no longer holds any equity in Discovery.
The Greatland sale, conducted in cooperation with the Australian explorer, saw Newmont divest half its stake, reducing its holding to 9.9%. The equity was part of the consideration for the Telfer-Havieron transaction in 2024.
“With today’s announcement, Newmont now expects to generate $3.0-billion in after-tax cash proceeds from its divestiture programme in 2025,” the company said, adding that the funds would support capital allocation priorities including debt reduction and shareholder returns.
Newmont embarked on a noncore divestiture programme following its 2023 acquisition of Newcrest Mining.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation