Newmont (NYSE, ASX: NEM, TSX: NGT) says it has netted around $470 million from selling equity stakes in Greatland Resources (ASX: GGP) and Discovery Silver (TSX: DSV) as part of ongoing efforts to generate cash for its core mining business.
In February 2024, the world’s largest gold miner announced plans to divest certain non-core assets, including six mines across Canada, Australia and Ghana, to improve its cash position and optimize its portfolio by focusing on “higher-quality, Tier 1 assets.”
In a press release Tuesday, the Denver, Colorado-based company said its monetization of Greatland and Discovery shares further streamlines Newmont’s equity portfolio, while generating cash for the business.
Newmont received the shares through its divestment of the Telfer operation (along with a 70% stake in the Havieron project) in Australia to Greatland Gold and the Porcupine operation in Ontario to…
