https://www.mining-technology.com/
The sale forms part of Newmont’s efforts to divest non-core assets, which have now surpassed its initial $2bn target.
US-based gold miner Newmont has signed an agreement to sell its Éléonore underground gold mine in Quebec, Canada, to UK-based private mining company Dhilmar for $795m (£632.16m) in cash. The sale is a part of Newmont’s divestiture programme aimed at offloading non-core assets, which has now surpassed its initial $2bn target.
Located in Eeyou Istchee/James Bay, in a remote corner of the Northern Quebec region, the Éléonore mine commenced commercial production in 2015. Dhilmar previously collaborated with Newmont in 2016 to acquire the Batu Hijau mine in Indonesia.
The deal with Dhilmar is due to be finalised in the first quarter of 2025, subject to certain conditions. Newmont’s divestiture programme, announced in February 2024, includes the sale of operations and projects across Australia, Ghana and North America.
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