Newmont Corporation announced on December 5, 2024, an agreement to sell its Cripple Creek & Victor (CC&V) operation in Colorado, USA, to SSR Mining Inc. for up to $275 million in cash consideration. The transaction is expected to close in the first quarter of 2025.
This sale contributes to Newmont's ongoing portfolio optimization program. Upon the closing of announced transactions, Newmont anticipates having generated up to $3.9 billion in gross proceeds from non-core asset divestitures and investment sales.
A specific condition of the agreement states that Newmont will be responsible for funding 90% of incremental closure costs at CC&V if aggregate closure costs exceed $500 million, following an updated regulator-approved closure plan. This highlights a potential future liability associated with the divestment.
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