Newmont (NEM) Acquires $48M Stake in Yanacocha
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Newmont to Acquire Remaining Stake in Yanacocha
April 12, 2022 8:30 AM EDTDENVER--(BUSINESS WIRE)-- Newmont Corporation (NYSE: NEM, TSX: NGT) has announced that it will acquire the remaining 5% interest in Yanacocha from Sumitomo Corporation for $48 million. The transaction is expected to close in the second quarter, making Newmont the exclusive owner-operator of this world-class asset.
This announcement follows an announcement in February 2022, in which Newmont acquired Buenaventuras 43.65% interest in Minera Yanacocha.
This transaction gives Newmont full equity ownership of the Yanacocha district where we are positioning the Sulfides project for profitable production and value generation for decades to come.... More
