{"id":9104,"date":"2024-12-02T13:22:09","date_gmt":"2024-12-02T13:22:09","guid":{"rendered":"https:\/\/northamericanmining.com\/?p=9104"},"modified":"2024-12-02T13:22:12","modified_gmt":"2024-12-02T13:22:12","slug":"newmont-divests-eleonore-gold-mine","status":"publish","type":"post","link":"https:\/\/northamericanmining.com\/index.php\/2024\/12\/02\/newmont-divests-eleonore-gold-mine\/","title":{"rendered":"Newmont divests \u00c9l\u00e9onore gold mine"},"content":{"rendered":"
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Photo: Newmont<\/em><\/figcaption><\/figure>\n\n\n

Newmont has agreed to sell its \u00c9l\u00e9onore operation in Northern Quebec, Canada, to UK-based Dhilmar for $795 million in cash consideration as part of the miner\u2019s plan to divest its non-core assets.<\/p>\n\n\n\n

\u201cToday\u2019s announcement is another step forward in Newmont\u2019s journey to create a go-forward portfolio of Tier 1 gold and copper assets, each with the scale and mine life to generate strong free cash flows for several decades,\u201d said Tom Palmer, Newmont president and chief executive officer. <\/p>\n\n\n\n

\u201cWhen 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. Proceeds from this transaction will support Newmont\u2019s comprehensive approach to capital allocation, which includes strengthening our investment-grade balance sheet and returning capital to shareholders.\u201d<\/p>\n\n\n\n

Palmer added, \u201cWe are pleased to be selling this operation to Dhilmar. They have a wealth of experience in gold and copper mining and we believe Dhilmar will be excellent stewards of this asset.\u201d<\/p>\n\n\n\n

The transaction is expected to close in the first quarter of 2025.<\/p>\n\n\n\n

\u00c9l\u00e9onore, located in Eeyou Istchee\/James Bay, is among the largest gold mines in Quebec.<\/p>\n\n\n\n

Source: <\/em>Newmont<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Newmont has agreed to sell its \u00c9l\u00e9onore operation in Northern Quebec, Canada, to UK-based Dhilmar for $795 million in cash consideration as part of the miner\u2019s plan to divest its non-core assets. \u201cToday\u2019s announcement is another step forward in Newmont\u2019s journey to create a go-forward portfolio of Tier 1 gold and copper assets, each with the scale and mine life…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[495],"tags":[2279,992,1190],"coauthors":[1644],"class_list":["post-9104","post","type-post","status-publish","format-standard","hentry","category-latest-news","tag-copper-mining","tag-gold-mine","tag-newmont"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t