Newmont has agreed to sell its Porcupine gold operation in Ontario, Canada, to Discovery Silver for up to $425 million in total consideration. The transaction is part of the miner’s ongoing program to divest its non-core assets. “Today’s announcement represents a significant milestone for Newmont as we have agreed to sell the final non-core operation from our divestiture program,” said…
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Newmont sells Colorado operation to SSR Mining
Newmont has agreed to sell its Cripple Creek & Victor operation in Colorado to SSR Mining for up to $275 million in cash consideration. The mine is expected to add 170,000 ounces in annual gold production to SSR’s platform. “The acquisition of the Cripple Creek & Victor Gold mine represents a rare opportunity to add a high-quality producing asset in…
Read MoreNewmont divests Éléonore gold mine
Newmont has agreed to sell its Éléonore operation in Northern Quebec, Canada, to UK-based Dhilmar for $795 million in cash consideration as part of the miner’s plan to divest its non-core assets. “Today’s announcement is another step forward in Newmont’s journey to create a go-forward portfolio of Tier 1 gold and copper assets, each with the scale and mine life…
Read MoreNewmont offloads Musselwhite to Orla Mining
Newmont has agreed to sell its Musselwhite gold mine in Ontario, Canada, to Vancouver-based Orla Mining for up to US$850 million in total consideration. “We are pleased to be selling our Musselwhite operation to Orla and have full confidence that they will continue to operate responsibly, while maintaining strong partnerships with the mine’s workforce and local and Indigenous communities,” said…
Read MoreNewmont Musselwhite pours 8,000th doré bar
Newmont’s Musselwhite operation, in commercial production since 1997, has achieved a mine life milestone: the pouring of its 8,000th gold doré bar. The miner, which announced the bar December 5, marked the occasion by inviting employees from across the business to gather for a celebration and speak on the changes witnessed at Musselwhite since its 7,000th bar was poured in…
Read MoreNewmont completes Newcrest takeover
U.S.-based Newmont has completed the acquisition of Australian rival Newcrest Mining to create the world’s leading gold company with robust copper production. The transaction strengthens Newmont’s position as a mining leader through the combination of high-quality operations, projects and reserves concentrated in low-risk jurisdictions, including 10 Tier 1 operations to support decades of safe, profitable and responsible gold and copper…
Read MoreStrike over at Newmont Peñasquito
Newmont said it has come to a deal with the National Union of Mine, Metal and Allied Workers of the Mexican Republic to bring a strike at its Peñasquito operation in the Zacatecas state to an end. The strike was initially called June 7. The parties submitted its agreement to the Mexican Labor Court on October 13, which was approved.…
Read MoreNewmont halts operations at Peñasquito over labor dispute
Newmont has suspended operations at its Peñasquito mine in Mexico in response to a strike notice by the National Union of Mine and Metal Workers of the Mexican Republic. The company said it will maintain essential activities related to safety, security and environmental monitoring and protection at the site. On June 7, the union notified Newmont of a strike action…
Read MoreFatigue Science marks adoption milestone for Readi system
Canadian-based technology group Fatigue Science celebrated a milestone in its growth and the acceptance of its predictive fatigue management system in late March: its implementation at 20 major mine sites. The company said the system, which offers increased worker safety as well as improved productivity, can now be found at Newcrest, Minsur, Newmont, Marcobre and Thiess projects, all of which…
Read MoreNewmont proposes Newcrest US$16.9 billion takeover
In a move to combine two of the top senior gold producers, U.S.-based Newmont has submitted a non-binding proposal to acquire 100% of the issued share capital of Australian peer Newcrest Mining by way of a scheme of arrangement. If successful, it would be the largest mining takeover and the third-largest corporate buyout in Australian history, according to Refinitiv data.…
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