Newmont Made significant Strides in Divesting Non-Core Assets

An estimated $1.5 billion was made in gross proceeds from the two transactions mentioned above.

SEATTLE (Scrap Monster): Newmont Corporation announced third quarter 2024 results. Over the course of the quarter, Newmont supplied 2.1 million gold equivalent ounces. Its top-tier portfolio produced free cash flow of $760 million. Also, the company declared a third quarter dividend of $0.25 per share, which will be payable on December 23, 2024 to holders of record at the close of business on November 27, 2024.

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Newmont Corporation Announced Divestment of Non-Core Assets

Wood to Enhance Newmont's Lihir Gold Mine in Papua New Guinea

In the third quarter, Newmont reported adjusted EBITDA of $2 billion, adjusted net income of $0.81 per diluted share, and net income of $924 million. According to a business news release, it reported $760 million in free cash flow and $1.6 billion in cash from operational activities.

The business kept making significant strides in its non-core divestiture program. It declared a deal to sell Ghana's Akyem mine for as much as $1 billion in cash. For up to $475 million, it also announced a deal to sell the Telfer mine and a 70% stake in the Havieron project in Western Australia. An estimated $1.5 billion was made in gross proceeds from the two transactions mentioned above.

Regarding the view for the future, the firm stated that it anticipates delivering 1.8 million gold ounces of attributable production in the fourth quarter of 2024 at an all-in sustaining cost (AISC) of $1,475 per ounce.

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