Newmont (NYSE: NEM, TSX: NGT) became the fourth most valuable mining company in the world on Wednesday after completing its non-core divestiture program with the finalized sales of its Akyem operation in Ghana and Porcupine operation in Canada.
The two transactions are expected to generate approximately $850 million in after-tax cash proceeds, before closing adjustments.
The company’s shares are up 52% year-to-date, including a 3.1% gain in midday trading Wednesday on the New York Stock Exchange, bringing Newmont’s market capitalization to $63.41 billion.
The miner’s share performance stands in stark contrast to its peers—BHP, Rio Tinto, and Southern Copper—all of which have seen negative returns so far this year.
| Top Miners | Country | Market Cap | Share YTD |
|---|---|---|---|
| BHP Group Limited | 🇦🇺 | $116.09B | -8.80% |
| Rio Tinto Group | 🇬🇧 | $98.45B | -7.84% |
| Southern Copper | 🇺🇸 | $69.63B | -3.33% |
| Newmont… |
