Newmont Corporation (traded as NEM in the U.S. and NGT.TO in Canada) has announced an agreement to divest its Porcupine operation in Ontario, Canada, to Discovery Silver Corp. The transaction is valued at approximately $425 million and is anticipated to be completed in the first half of 2025. This total consideration consists of $200 million in cash, payable at the time of closing, $75 million worth of Discovery shares to be issued at closing, and $150 million in deferred cash payments.
Upon finalizing the sale of the Porcupine operation, along with previously disclosed transactions, Newmont projects it will generate up to $4.3 billion from strategic divestitures and investment in non-core assets.
