Greatland Gold to Acquire Newmont’s Telfer Operation, Havieron Project, and Paterson Region Assets
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Newmont Corporation said, as part of its ongoing program to divest non-core assets, it has agreed to sell the Telfer Operation, Newmont’s 70 percent interest in the Havieron Gold-Copper Project, and other related interests in the Paterson region, all in Australia, to Greatland Gold.
Under the terms of the agreement, Newmont expects to receive gross proceeds of up to $475 million.
“The transaction announced today represents the first asset sale in the divestiture program announced in February. I am pleased that Telfer and Havieron are being sold to Greatland, a company with a highly experienced management team and board of directors. I have full confidence that the Greatland team will be outstanding stewards of these assets,” said Tom Palmer, Newmont’s president and chief executive officer.
“Including the Telfer divestiture, we continue to expect to reach at least $2 billion in total proceeds from the sale of our high-quality, non-core assets, enabling us to focus attention on our suite of tier 1 assets, further reduce debt, and return capital to shareholders,” added Palmer.
The transaction is expected to close in the fourth quarter of 2024, subject to certain conditions being satisfied.
Newmont is the world’s leading gold company and a producer of copper, zinc, lead, and silver. The company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the company has been publicly traded since 1925.
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