Newmont To Sell Telfer Operation And 70% Stake In Havieron Project To Greatland Gold

(RTTNews) - Newmont Corp. (NEM, NGT.TO, NEM.AX) announced it has agreed to sell the Telfer operation, Newmont's 70% interest in the Havieron gold-copper project, and other related interests in the Paterson region, all in Australia, to Greatland Gold plc (GGP.L).

The transaction is expected to close in the fourth quarter of 2024.

Under the terms of the agreement, Newmont anticipates receiving gross proceeds of up to $475 million. This includes cash consideration of $207.5 million, payable upon closing; equity consideration of $167.5 million in Greatland shares, to be issued upon closing; deferred contingent cash consideration of up to $100 million.