Newmont (NEM) to Sell Kalgoorlie Power Business to Northern Star for $95M Cash
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Newmont to Sell Kalgoorlie Power Business to Northern Star
November 22, 2021 6:00 PM ESTDENVER--(BUSINESS WIRE)-- Newmont (NYSE: NEM, TSX: NGT) (Newmont or the Company) has agreed to sell its Kalgoorlie power business to Australias Northern Star Resources Limited (ASX: NST) (Northern Star).
Under terms of the agreement, Newmont receives US$95 million in cash, inclusive of the US$25 million option payment previously received from Northern Star as part of its purchase of Newmonts 50 percent stake in Kalgoorlie Consolidated Gold Mines (KCGM) in 2020.
The Kalgoorlie power business has been a profitable asset for Newmont since the sale... More
