Newmont Reveals Balanced Capital Allocation Strategy, Intends To Divest Six Non-Core Assets
Portfolio Pulse from Benzinga Newsdesk
Newmont plans to divest six non-core assets and two projects, aiming for an additional $500 million in cost and productivity improvements. The assets include Éléonore, Musselwhite, Porcupine, CC&V, Akyem, and Telfer, with Havieron and Coffee projects also on the divestiture list.
February 22, 2024 | 12:05 pm
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Newmont's strategic divestiture of non-core assets and projects aims for significant cost and productivity improvements.
Divesting non-core assets allows Newmont to focus on its most profitable operations, potentially improving its financial health and operational efficiency. The additional $500 million in cost and productivity improvements could significantly enhance profitability, making this news likely positive for NEM's stock in the short term.
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