Newmont plans to sell mines following Newcrest acquisition

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Newmont Corp. plans to raise $2 billion in cash through mine sales and project divestments following the acquisition of Newcrest Mining.on Monday. The acquisition brings the company’s value to around $50 billion and adds five active mines and two advanced projects to Newmont’s portfolio.that the merged company can now initiate a process to sell mines and determine which exploration projects to prioritize over the next two years.

Among the assets under discussion is Newmont’s Cripple Creek & Victor mine in Teller County, Colorado.In the nine months leading up to September, Newmont extracted 134,000 troy ounces of gold from Cripple Creek. Although this represented a 7% increase compared to the previous year, the operation remained one of the smallest contributors to overall output.

 

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