Newmont’s Divestiture Program Gains Traction

Newmont’s bold divestiture program gained momentum with the recent sale of Telfer and Havieron to Greatland Gold for a substantial $475 million. These assets were part of a strategic move devised by Newmont earlier this year, including the likes of Éléonore, Musselwhite, Porcupine, CC&V, and Akyem mines.

Greatland Gold’s Promising Predicament

The acquisition marks a significant step for Greatland Gold, positioning them favorably to take charge of the Havieron gold-copper project. This endeavor, initiated back in 2018 and a focus of Australian junior’s efforts, is set to align with existing infrastructure from the Telfer mine.

Newmont’s Production Puzzle

Amidst this strategic shift, Newmont recalibrates its gold and copper production projections, following the divestiture. Non-core assets now contribute to an estimated 1.12 million oz. of gold and 1,000 tonnes of copper, sans impacting the production forecasts for Tier 1 assets.

Eyeing the African Horizon

With the dust settling on the Telfer sale, all eyes are now on the Akyem mine in Ghana. The highly sought-after asset is rumored to be a target for industry heavyweights like Shandong Gold, Zijin Mining, and even Asante Gold, a key player in the region.