The underground mine is located in the Eeyou Istchee/James Bay region, about 800 km north of Montreal. It produced its first gold in October 2014 and achieved commercial production the following April.
Divestments by Newmont
This transaction marks the second in a series of planned divestments by Newmont.
Last week, Canada’s Orla Mining (TSX: OLA) announced it would acquire Newmont’s Musselwhite gold mine in Ontario for $850 million.
The world’s largest gold miner stated that the Éléonore deal and other sales announced in 2024 would help raise a total of $3.6 billion.
“When we announced the acquisition of Newcrest in 2023, we committed to generating at least $2 billion in cash through portfolio optimization. With this announced sale, we have meaningfully exceeded our target by more than $1.5 billion to date,” said Tom Palmer, Newmont’s president and CEO.
Newmont’s other Canadian…
