PERTH (miningweekly.com) – Australian gold major Newcrest Mining has divested of its remaining 14.9% interest in fellow-listed gold miner Evolution Mining in a deal reportedly valued at A$125-million.
Newcrest reduced its shareholding in Evolution from 32.3% to 14.9% in February, in a sale priced at 85c a share, to generate proceeds of A$106-million to repay debt.
The company on Thursday said the net proceeds raised from the latest divestment of Evolution shares would also be applied to pay down the company’s debt.