WASHINGTON (dpa-AFX) - Newmont Corp. (NEM) a Gold miner, announced on Monday that it has agreed to sell its Musselwhite operation in Ontario, Canada, to Orla Mining Ltd for up to $850 million.
The transaction is expected to be closed in the first quarter of 2025.
Under the terms, Newmont will receive cash consideration of $810 million upon closing and up to $40 million in contingent payments.
Tom Palmer, CEO of Newmont, said: 'The announced divestitures are expected deliver up to $2.9 billion in gross proceeds to support Newmont's capital allocation priorities.'
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