Newmont To Sell Its Cripple Creek & Victor Operation In Colorado For Up To $275 Mln

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(RTTNews) - Newmont (NEM, NGT.TO) has agreed to sell its Cripple Creek & Victor operation in Colorado, USA, to SSR Mining Inc. for up to $275 million in cash. The gross proceeds of up to $275 million includes: cash consideration of $100 million, due upon closing; deferred contingent cash consideration of $87.5 million upon receipt of pending regulatory approvals; and deferred contingent cash consideration of $87.5 million upon resolution of regulatory applications relating to the Carlton Tunnel.

In February 2024, Newmont announced the intent to divest its non-core assets, including six operations and two projects from its Australian, Ghanaian, and North American business units. The company noted that, upon closing the announced transactions, Newmont will have delivered up to $3.9 billion in gross proceeds from non-core asset divestitures and investment sales.