Newmont sold 6,773,641 shares of Fuerte Metals at CAD$4.35 each, generating gross proceeds of about CAD$29.5 million. The sale reduces Newmont’s stake from roughly 24% to about 19.5% and is expected to close within a week.
The divestiture is part of Newmont’s broader portfolio‑optimization strategy, which has focused on shedding non‑core assets and concentrating on Tier 1 mines that generate long‑term free cash flow. The company has already sold its Coffee Project to Fuerte Metals in September 2025 and has been divesting several other mines, including Éléonore, Musselwhite, and Porcupine.
Newmont’s Q3 2025 results were strong, with earnings per share of $1.71 beating estimates and revenue of $5.52 billion. The company ended the quarter with $5.6 billion in cash, near‑zero net debt, and $9.6 billion in total liquidity, giving it ample capacity to fund future growth and capital allocation priorities.
The sale also coincides with a leadership transition. Tom Palmer will retire as CEO, and Natascha Viljoen will take the helm effective January 2026. The change in leadership signals a continued focus on portfolio optimization and disciplined capital allocation.
Fuerte Metals, a TSXV‑listed company, has been active in raising capital, including a $15 million private placement of flow‑through common shares in early December. The sale of Newmont’s shares does not alter Fuerte Metals’ ownership structure beyond the reduction in Newmont’s stake, and the company remains focused on expanding its mining operations.
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