Newmont Declares Monetization of Equity Received Through Divestitures

Core Insights - Newmont Corporation (NEM) has executed agreements to sell its shares in Greatland Resources Limited and Discovery Silver Corp, generating total cash proceeds of approximately $470 million after taxes and commissions [1][10] - This divestiture aligns with Newmont's strategy announced in February 2024 to focus on high-quality, core assets, simplifying its investment portfolio while enhancing cash flow [2][10] - Newmont is positioned to meet its 2025 targets, expecting to generate $3 billion in after-tax cash proceeds from its divestiture program, which will support its capital allocation strategy [3] Divestiture Details - Newmont agreed to sell half of its shares in Greatland in June 2025, with a remaining equity stake of about 9.9% post-sale [4] - The sale of Discovery shares will occur in two phases in May and July 2025, as part of the consideration for the divestment of the Porcupine mine [5] Financial Performance - Newmont's shares have increased by 18.9% over the past year, compared to a 32% rise in the industry [6] - The company anticipates gold production of approximately 5.9 million ounces for 2025, with costs applicable to sales (CAS) projected at $1,200 per ounce and all-in-sustaining costs (AISC) at $1,630 per ounce [7]