Newmont (NEM) announced that the Parliament of Ghana has ratified the renewal of the Akyem East Mining Lease. Per Newmont’s definitive agreement to divest its Akyem operation in the Republic of Ghana, Zijin Mining Group agreed to pay Newmont $100M upon receipt of the lease ratification. The payment has been received, bringing total after-tax cash proceeds from the sale of Akyem to approximately $770M. With this announcement, Newmont now expects to generate $3.1B in after-tax cash proceeds from its divestiture program in 2025, including $2.6B from divested assets and approximately $470M from the sale of equity shares in Greatland Resources Limited and Discovery Silver Corp. The proceeds will support Newmont’s capital allocation priorities, which include reducing outstanding debt and returning capital to shareholders.
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