https://www.miningweekly.com
Copper|Gold|Mining
Copper|Gold|Mining
copper|gold|mining

Newmont sells Éléonore mine in Canada for $795m

25th November 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

The world’s largest gold miner, Newmont, announced on Monday that it had agreed to sell its Éléonore mine in Quebec, Canada, to UK-based private mining firm Dhilmar for $795-million in cash.

The transaction marks another step in Newmont’s ongoing divestiture programme, which has seen the company exceed its target of raising $2-billion from the sale of noncore assets. With this deal, gross proceeds are now expected to total $3.6-billion.

The sale of the Éléonore mine is the second of several Canadian assets that Newmont has earmarked for divestment. Last week, the company reached an agreement to sell its Musselwhite mine to TSX-listed Orla Mining for $850-million.

Newmont CEO Tom Palmer expressed confidence in the buyer, noting that Dhilmar, led by CEO and MD Alexander Ramlie, had a strong track record in mining. “They have a wealth of experience in gold and copper mining, and we believe Dhilmar will be excellent stewards of this asset,” Palmer said.

Ramlie and his team at Dhilmar were previously involved in the 2016 acquisition of the Batu Hijau copper and gold mine in Indonesia, a transaction made on behalf of PT Amman Mineral Internasional.

 

Edited by Creamer Media Reporter

Comments

Latest News

Showroom

Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 
John Deere (Pty) Ltd
John Deere (Pty) Ltd

In 1958 John Deere Construction made its first introduction to the industry with their model 64 bulldozer.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.491 0.547s - 143pq - 2rq
Subscribe Now