Newmont Corp Stock Price, News & Analysis

Newmont (NYSE: NEM) announced that its wholly-owned subsidiary, Newmont Canada FN Holdings ULC, has sold 9,500,000 common shares of Star Diamond through a private placement transaction. The shares were sold at $0.02 per share for a total of $190,000. This transaction represents approximately 1.54% of Star Diamond's outstanding shares, reducing Newmont's ownership from 11.45% to 9.92%. While Newmont Canada currently has no plans to acquire additional Star Diamond shares, it may do so in the future depending on market conditions.

Newmont has agreed to sell its Cripple Creek & Victor (CC&V) operation in Colorado to SSR Mining for up to $275 million in cash consideration. The deal includes $100 million cash at closing and two deferred payments of $87.5 million each, contingent on regulatory approvals.

This transaction is part of Newmont's broader divestment program of non-core assets, which has generated up to $3.9 billion in gross proceeds from announced transactions in 2024. This includes $3.4 billion from non-core divestitures and $527 million from investment sales. The CC&V transaction is expected to close in Q1 2025.

The company will retain 90% responsibility for incremental closure costs if they exceed $500 million after an updated regulator-approved closure plan.

Newmont has agreed to sell its Éléonore operation in Northern Quebec, Canada, to Dhilmar for $795 million in cash. The transaction is expected to close in Q1 2025. This sale is part of Newmont's larger divestiture program, which has now generated up to $3.6 billion in gross proceeds, exceeding their initial $2 billion target by more than $1.5 billion.

The company has announced agreements to divest four operations and one project, with remaining North American non-core assets sales expected to conclude in Q1 2025. The total proceeds include $3.1 billion from non-core divestitures and $527 million from investment sales.

Newmont has agreed to sell its Musselwhite operation in Ontario, Canada, to Orla Mining for up to $850 million, comprising $810 million in cash and up to $40 million in contingent payments. The transaction is expected to close in Q1 2025. This sale is part of Newmont's broader divestiture program, which has now reached up to $2.9 billion in gross proceeds, including $2.3 billion from non-core divestitures and $527 million from other investments. The company has also made progress on its $3 billion share repurchase program, having bought back 22.4 million shares worth $1.1 billion, and has retired approximately $500 million of debt in 2024.

Newmont (NYSE: NEM) announced that its wholly-owned subsidiary, Newcrest Canada Holdings Inc., has sold all 14,674,056 common shares of Azucar Minerals to Almadex Minerals and certain directors and officers of Azucar. The transaction, completed on October 21, 2024, was valued at $220,110.84 ($0.015 per share). This sale represents Newmont's complete divestment of its approximately 19.9% stake in Azucar, reducing its ownership from 19.9% to 0%. The transaction was executed under the private agreement exemption of National Instrument 62-104.

Newmont (NYSE: NEM) has commissioned its first battery-electric large mining truck at the Cripple Creek and Victor mine in Colorado. The Early Learner Cat® 793 XE represents a significant step in Newmont's commitment to reducing greenhouse gas emissions. The initiative is part of Newmont's strategic alliance with Caterpillar Inc. and aims to address emissions from diesel combustion machines in surface and underground mining operations. Both companies will focus on validating and testing the vehicle to understand its implementation and impact, potentially setting new industry standards for sustainable mining practices.

Newmont (NYSE: NEM) has been awarded the U.S. Secretary of State's Award for Corporate Excellence in the Climate Resilience category for its operations in Suriname. The award recognizes Newmont's contributions to Suriname's economic development and sustainability efforts. The company has implemented programs supporting local businesses, worked with Artisanal Small-Scale Miners on land reclamation, and provided capacity-building initiatives and financial assistance to develop small business opportunities. CEO Tom Palmer emphasized Newmont's commitment to creating value through responsible mining and supporting Suriname's green development goals.

Newmont's Cadia operation in Orange, NSW has achieved The Copper Mark and The Molybdenum Mark following an independent assessment of responsible production practices. Cadia, Australia's largest underground mine, is Newmont's first site globally to receive these awards after meeting over 30 criteria in areas including environment, community, human rights, and governance. The mine is Australia's second-largest copper producer and the only operating molybdenum producer in the country. The operation has a 15-year renewable Power Purchase Agreement with Tilt Renewables for 55% of wind farm output and invested nearly $6 million AUD in community projects during the 18 months to December 2023.

Newmont (NYSE: NEM) reported third quarter 2024 results, delivering 2.1 million gold equivalent ounces and generating $760 million in free cash flow. The company produced 1.7 million attributable gold ounces and 430 thousand gold equivalent ounces from other metals. Key financial highlights include $1.6 billion in operating cash flow and net income of $924 million. Newmont announced agreements to sell Akyem mine for up to $1 billion and Telfer mine with 70% of Havieron project for up to $475 million. The company declared a Q3 dividend of $0.25 per share and completed $750 million in share repurchases since February 2024, with an additional $2 billion share repurchase program authorized.