Newmont Corporation announced on November 25, 2024, an agreement to sell its Éléonore gold operation in Northern Quebec, Canada, to UK-based private mining company Dhilmar for $795 million in cash. This sale is part of Newmont's ongoing efforts to divest non-core assets.
With this transaction, the total proceeds from Newmont's divestiture program have now surpassed its initial $2 billion target. This strategic move allows Newmont to further focus on its core Tier 1 assets and optimize its global operational footprint.
The cash proceeds from the Éléonore sale will contribute to strengthening Newmont's balance sheet and supporting its capital allocation priorities. The transaction is expected to close, subject to customary conditions.
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