Greatland Gold has announced its readiness to reacquire a majority stake in the Havieron gold-copper project in Western Australia, currently held by Newmont. Following Newmont’s acquisition of Newcrest Mining last November, Havieron was identified as one of the assets to be divested.
Newmont holds a 70% interest in Havieron, a flagship project for Greatland, which originally discovered the site in 2018. The Australian junior company maintains a right of first refusal to purchase Newmont’s stake before any potential sale to third parties. The site is strategically located only 45 km from the Telfer mine, another asset Newmont acquired from Newcrest that is also on the sales block.
Sean Day, Managing Director of Greatland, emphasized the company’s commitment to consolidating ownership of Havieron. He stated that the company is “strongly positioned” to enhance its holdings, highlighting significant advancements made in the project over the past three months. These advancements include effective water management, with flow rates recorded at the lower end of previously expected ranges, and the confirmation of infrastructure requirements. These factors considerably de-risk the project’s development through the underlying aquifer.
To date, total underground development at Havieron has surpassed 3,060 meters, covering nearly 80% of the vertical distance to the top of the ore body. If ongoing feasibility studies confirm the viability of mining, Havieron plans to utilize existing infrastructure and processing facilities at the nearby Telfer mine, which would significantly reduce development risks and capital expenditures. 
