Newmont to sell Coffee Project in Yukon for up to $150M

Newmont (NEM) announced that it has agreed to sell its Coffee Project in Yukon, Canada to Fuerte Metals Corporation for up to $150M in total consideration. The transaction is expected to close in the fourth quarter of 2025, subject to certain conditions being satisfied. Under the terms of the agreement, Newmont expects to receive gross proceeds of up to $150M, which includes: cash consideration of $10M, due upon closing. Equity consideration of $40M in the form of Fuerte shares, to be issued upon closing. A 3% net smelter return royalty on the Coffee Project, which Fuerte retains the option to repurchase for up to $100M.