Newmont (NEM) said Wednesday it closed its divestment of its Akyem operation in Ghana and Porcupine operation in Canada for total after-tax cash proceeds of $850 million.
The consideration for the Porcupine sale included around 119.7 million shares of Discovery Silver, which are held by Newmont subsidiary Goldcorp.
With the sale completions, the company said it has divested all six of its non-core operations. The total gross proceeds from the announced divestitures are expected to total up to $4.3 billion, including $3.8 billion from non-core divestitures and $527 million from the sale of other investments, Newmont said.
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