Newmont Puts Gold Mines Up for Sale to Help Raise $2 Billion

Divestment push targets assets that don’t meet Tier 1 criteria
Company to sell projects in Canada, Australia, US and Ghana

Newmont Corp. signage at the Prospectors & Developers Association of Canada (PDAC) conference in Toronto, Ontario, Canada, on Sunday, March 5, 2023. The world’s top gold producer will seek to sell six mines and two projects in a set of divestitures aimed at generating $2 billion in cash. — Newmont Corp. signage at the Prospectors & Developers Association of Canada (PDAC) conference in Toronto, Ontario, Canada, on Sunday, March 5, 2023. The world’s top gold producer will seek to sell six mines and two projects in a set of divestitures aimed at generating $2 billion in cash.
Photographer: Christopher Katsarov Luna/Bloomberg

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By Jacob Lorinc

February 22, 2024 at 12:15 PM UTC

Updated on

February 22, 2024 at 12:45 PM UTC

This article is for subscribers only.

Newmont Corp., the world’s top gold producer, will seek to sell six mines and two projects in a set of divestitures aimed at generating $2 billion in cash.

The Denver-based company said Thursday it intends to divest three Canadian gold mines — Éléonore, Musselwhite and Porcupine — along with Cripple Creek & Victor in the US, Akyem in Ghana and Australia’s Telfer mine. It also plans to sell two “non-core” projects, Havieron in Australia and Coffee Gold in Canada.