Newmont Wraps Up Sale of Musselwhite, Eleonore and CC&V Operations

Core Insights - Newmont Corporation (NEM) has completed the sale of three non-core assets, including Musselwhite and Eleonore operations in Canada and the Cripple Creek & Victor operation in Colorado, USA [1][2] - The divestiture generated total after-tax cash proceeds of $1.7 billion, with expectations to complete two additional asset sales for approximately $0.8 billion in the first half of 2025 [2][3] - Total gross proceeds from disclosed divestitures are projected to reach $4.3 billion, with $3.8 billion from non-core divestitures and $527 million from other investments [3] Financial Performance - NEM's shares have increased by 26.5% over the past year, compared to a 36.8% rise in the industry [4] - The company expects attributable production for 2025 to be around 5.9 million gold ounces, with a projected All-In Sustaining Cost (AISC) of $1,630 per ounce for the total portfolio in the first quarter of 2025 [5] - The Total Tier 1 portfolio is anticipated to spend approximately $1.8 billion on sustaining capital and $1.3 billion on development capital in 2025 [6] Strategic Outlook - The completion of these asset sales is part of NEM's strategic portfolio optimization initiated in early 2024, aimed at improving its investment-grade balance sheet while continuing shareholder returns through share repurchases [2] - NEM plans to finalize the sale of its Akyem operation in Ghana and Porcupine operation in Canada in the first half of 2025, which is estimated to yield gross proceeds of up to $1.4 billion [3]