Published: March 31, 2023 |

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Newmont Corporation has completed the sale of its common shares of Triple Flag Precious Metal Corp. on the open market for $179 million in net proceeds, after tax. The monetization of Triple Flag’s shares further streamlines and optimizes Newmont’s equity portfolio, while generating cash for the business at fair value.

Since the completion of the Goldcorp acquisition in 2019, Newmont has received more than $2 billion in cash proceeds from the sale of non-core assets as part of its strategy to maximize value for shareholders and other stakeholders. These proceeds further strengthen Newmont’s investment-grade balance sheet, enabling the company to maintain a flexible financial position throughout the commodity price cycle with a clear focus on maintaining a world-class portfolio of long-life, responsibly managed assets located in top-tier jurisdictions.

Newmont’s equity interest in Triple Flag originated through the formation of a strategic partnership with Maverix Metals in 2018. Following the Goldcorp acquisition, Newmont sold additional royalties to Maverix in 2020, which resulted in Newmont owning 42.0 million common shares of Maverix and 5.0 million purchase warrants. In January 2023, Triple Flag completed the acquisition of Maverix, and Newmont received 15.1 million common shares and 1.8 million purchase warrants of the combined company. Prior to the completion of the sale, Newmont held approximately 7.5 percent of the issued and outstanding common shares of Triple Flag for investment purposes.

About Newmont
Newmont is the world’s leading gold company and a producer of copper, silver, zinc, and lead. The company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia, and Africa. 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. The company is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Their purpose is to create value and improve lives through sustainable and responsible mining.

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