(Bloomberg) -- Newmont Corp., the world’s biggest gold miner, said it’s on track to raise $2 billion — if not more — from selling smaller mines and development projects.
“We’ll get at least that,” Chief Operating Officer Natascha Viljoen said Tuesday in an interview on the sidelines of Denver Gold Group’s annual forum in Colorado. “All of them are tracking according to plan.”
The Denver-based metals producer signaled plans to divest assets after closing its acquisition of Newcrest Mining Ltd. in 2023. The sales are part of plan to focus on so-called Tier 1 assets, which can produce at least 500,000 ounces of gold equivalent for 10 years or longer, while boosting the company’s exposure to copper.
Newmont agreed to sell two Australian assets to Greatland Gold Plc for as much as $475 million earlier this month. It’s now pushing to finalize sales of mines and projects in Ghana, the US and Canada by the end of the first quarter in 2025.
The process to sell its Akyem mine in Ghana is in “advanced stages,” said Newmont’s Chief Financial Officer Karyn Ovelmen during a Tuesday panel discussion at the conference.
The process to sell a handful of gold mines in Canada and the US is in its “second stage,” in which the company is undergoing due diligence with interested parties, added Ovelmen.
(Updates with more details in final two paragraphs)
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