{"id":9548,"date":"2025-02-12T19:08:24","date_gmt":"2025-02-12T19:08:24","guid":{"rendered":"https:\/\/northamericanmining.com\/?p=9548"},"modified":"2025-02-12T19:08:26","modified_gmt":"2025-02-12T19:08:26","slug":"newmont-offloads-musselwhite-eleonore","status":"publish","type":"post","link":"https:\/\/northamericanmining.com\/index.php\/2025\/02\/12\/newmont-offloads-musselwhite-eleonore\/","title":{"rendered":"Newmont offloads Musselwhite, \u00c9l\u00e9onore"},"content":{"rendered":"
\"\"
The \u00c9l\u00e9onore operation in Northern Quebec.<\/em>
Photo: Newmont<\/em><\/figcaption><\/figure>\n\n\n

In the final months of 2024, Newmont agreed to sell two of its gold mines as part of a plan to divest its non-core assets.<\/p>\n\n\n\n

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. Musselwhite is a fly-in, fly-out operation located approximately 500 kilometers north of Thunder Bay.<\/p>\n\n\n\n

Under the terms of the agreement, Newmont will receive cash consideration of $810 million upon closing and up to $40 million in contingent payments.<\/p>\n\n\n\n

The miner also agreed to sell its \u00c9l\u00e9onore operation in Northern Quebec, Canada, to UK-based Dhilmar for $795 million in cash consideration. \u00c9l\u00e9onore is among the largest gold mines in Quebec.<\/p>\n\n\n\n

\u201cWith 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 said Tom Palmer, Newmont president and chief executive officer.<\/p>\n\n\n\n

Both transactions are expected to close in the first quarter of 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"

In the final months of 2024, Newmont agreed to sell two of its gold mines as part of a plan to divest its non-core assets. 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. Musselwhite is a fly-in, fly-out operation located approximately 500 kilometers north…<\/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":[12],"tags":[3602,3603,171,811],"coauthors":[1644],"class_list":["post-9548","post","type-post","status-publish","format-standard","hentry","category-the-headlines","tag-gold-mines","tag-musselwhite-gold-mine","tag-newmont-mining","tag-orla-mining"],"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