Newmont Corporation receives further $154m from Ghanaian mine sale
Make us a preferred source
Make us a preferred source on Google
The news: Newmont Corporation will receive a payment of USD100 million ($154 million) from China’s Zijin Mining Group following the Parliament of Ghana’s renewal of the Akyem East Mining Lease, as part of a sale agreement completed earlier this year.
The numbers: This brings the total after-tax cash proceeds from Newmont’s sale of Akyem to Zijin up to roughly USD770 million since the close of the sale in April.
Newmont’s 2025 divestiture program is now expected to generate $3.1 billion in after-tax cash proceeds, including $2.6 billion from divested assets and approximately $470 million from the sale of equity shares in Greatland Resources and Discovery Silver.
The context: Zijin’s payment following the renewal of the Akyem East Mining Lease is a condition of the definitive agreement for Newmont to divest its Akyem operation.
The proceeds of the company’s divestiture program will support Newmont’s “capital allocation priorities, which include reducing outstanding debt and returning capital to shareholders”.
The source: ASX
