Newmont has announced its intention to divest six gold mines and two gold projects, with two of the projects located in Western Australia.
The mines set for divestment include Éléonore, Musselwhite, and Porcupine in Canada, the Cripple Creek and Victor mine in the US, the Akyem mine in Ghana, and the Telfer mine in Western Australia, the latter being acquired from Newcrest in November of last year.
Additionally, Newmont plans to sell its 70% stake in the Havieron project in Western Australia, with the remaining 30% owned by Greatland Gold. The company also intends to divest the Coffee project in Canada.
According to Newmont's president and CEO, Tom Palmer, these divestments are occurring because the assets do not meet the company's Tier-1 criteria, despite being valuable assets managed by capable teams.