(Bloomberg) — Newmont Corp., the world’s top gold producer, will forge ahead on a plan to find $2 billion in cash including through mine sales and project divestments after closing the largest takeover in the mining industry this year.
Denver-based Newmont closed its roughly $15 billion acquisition of Newcrest Mining Ltd. on Monday, ending a nearly year-long effort to buy the Australian gold miner.
Now, with all regulatory hurdles out of the way, Newmont CEO Tom Palmer says the combined company can start a process to sell mines and decide which exploration projects to prioritize over the next two years.
“It will come from a combination of divestments of assets and resequencing of projects so that we ensure we’ve got the appropriate and steady allocation of cash for reinvestment,” said Palmer in an interview.
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