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Copper|Gold|PROJECT|Operations
Copper|Gold|PROJECT|Operations
copper|gold|project|operations

Greatland to take over Australian mines from Newmont in coming weeks

The Telfer operation in Australia

The Telfer operation in Australia

15th November 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Aim-listed Greatland Gold’s $475-million acquisition of the Telfer and Havieron assets, in Australia, from gold major Newmont is nearing completion, with a conclusion date set for early December.

Newmont is selling the mines as part of a noncore asset divesture plan following its 2023 acquisition of Newcrest.

In a statement on Friday, Greatland CEO Shaun Day said the company was excited to take over “in a matter of weeks”.

“The significant and collaborative efforts of the Greatland, Newmont and Telfer teams have enabled the continued progress towards the satisfaction of the transaction conditions and our integration work. 

“We congratulate Newmont on the successful restart of processing operations,” said Day.

Once Greatland assumes ownership of the Telfer mine and Havieron project, it will emerge as a “significant Australian gold and copper producer”, notes Day.

Greatland was in a joint venture with Newmont at Havieron – a deposit that it discovered in 2018. The company had a right of first refusal on the asset.

Edited by Creamer Media Reporter

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