Newmont Sells Canadian Gold Mine for $795 Million Following Newcrest Acquisition

U.S. mining giant Newmont has agreed to sell its large gold mine in northern Canada for $795 million (123 billion yen) in cash. This move is part of the company's broader strategy to sell off non-core assets following its acquisition of Australia's Newcrest Mining, the largest-ever merger and acquisition (M&A) in the gold mining sector.

Newmont announced on April 25 that it will sell the mine, located near James Bay in Quebec, to British private mining company Dilmer. The deal is expected to be finalized in the first quarter of next year.

The sale will bring the total proceeds from the divestiture of non-core assets to $3.6 billion, exceeding the initial target of more than $2 billion in cash that was set when the Newcrest acquisition was announced last year. This allows Newmont to sharpen its focus on high-grade gold and copper projects, aligning with its strategic priorities.