Newmont Announces Sale of Porcupine Operation for up to $425 Million
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Newmont Corporation has announced the sale of its Porcupine operation in Ontario, Canada, to Discovery Silver Corp. for up to $425 million. This sale is part of Newmont's strategy to divest non-core assets, aiming to generate up to $4.3 billion in total proceeds.
January 27, 2025 | 1:00 pm
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Newmont Corporation is selling its Porcupine operation for up to $425 million, contributing to a total of $4.3 billion in proceeds from non-core asset divestitures.
The sale of the Porcupine operation is a significant step in Newmont's strategy to streamline its portfolio by divesting non-core assets. This move is likely to be viewed positively by investors as it contributes to a substantial $4.3 billion in proceeds, potentially improving Newmont's financial position and allowing for reinvestment in core operations.
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