Home > Mining Companies > Newmont Corp. > News > Newmont Sells Royalty...
Newmont Corp.

Newmont Sells Royalty Portfolio for $90 Million

Sep 21, 2020
DENVER - (BUSINESS WIRE) - Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) announced today that it has entered into a definitive agreement with Maverix Metals Inc. (NYSE American & TSX: MMX) (Maverix) to sell a portfolio of eleven royalties (the Transaction). Newmont will receive total consideration of approximately $90 million from Maverix, consisting of $15 million in cash, 12 million Maverix common shares, and up to $15 million in contingent cash payments payable upon completion of certain milestones.
 
The royalties provide exposure to five flagship gold assets owned and operated by growth-oriented mining companies. The portfolio includes royalties on Camino Rojo and Ana Paula in Mexico, Cerro Blanco in Guatemala, and Mother Lode and Imperial in the United States.
 
The Transaction builds on Newmont’s existing ownership interest in Maverix and provides the Company additional participation in the future upside of a growing royalty and streaming business. Maverix’s diversified portfolio includes over 100 royalties and streams across 18 countries, with assets predominately located in Australia the Americas and Mexico. Closing of the Transaction is expected to occur in the fourth quarter of 2020 upon completion of customary closing conditions, and once completed, Newmont’s ownership interest in Maverix will increase from 26 percent to approximately 32 percent.
 
“This transaction further strengthens our strategic partnership with Maverix and generates additional value for our respective shareholders,” said Tom Palmer, President and Chief Executive Officer. “We remain focused on continuing to optimize our portfolio and look forward to realizing further value through our position in Maverix.”
 
About Newmont
 
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.
 
Media Contact
Eric Colby
303.837.5724
eric.colby@newmont.com
 
Investor Contact
Jessica Largent
303.837.5484
jessica.largent@newmont.com
 

Source: https://www.newmont.com/investors/news-release/news-details/2020/Newmont-Sells-Royalty-Portfolio-for-90-Million/default.aspx

Exploration Geologist

To process, compile and interpret a significant amount of geologic information being generated by the Borden exploration efforts. Work with contractors and work effectively and efficiently within the geology team and with other departments.

Temporary Core Technician

You will Perform a variety of technical duties in assistance to exploration geologists.

Drill and Blast Engineer

The Drill & Blast Engineer will be responsible for the design and monitoring of efficient and safe mining practices involving drilling & blasting in operations and technical services.

Senior Database Analyst

The Senior Database Analyst is in charge of maintaining and further modifying an in-house SQL database for validating, storing, and auditing a large variety of large datasets (Production drilling, exploration drilling, sampling etc.) in support on Mine Geology, and Exploration Geology as well as Mine Operations and Mine Engineering.

Mine Surveyor

This position will be reporting to the Chief Surveyor.  Accountable for prioritizing daily tasks and providing accurate surveys and mark ups to operations and planning group in a timely manner.

Miner 4 Sump Mucker

Operates Scooptram to remove materials from underground sumps, and occasionally help with pump changes. Reports to the Upper Longhole/ Construction Supervisor at Hoyle site.

Production Geologist

Interpret, collect and compile geological information, communicate with and direct underground production crews and provide support for the Mining department, the Engineering department, for underground operations diamond drilling, for reserve/resource calculations and for data management.

Project Controls Director

Senior level position providing mentorship and leadership to definition, development of and adherence to Newmont standards for controls systems, development and policies for multiple studies and programs.

Electrical Planner

As the planner, you develop maintenance plans in order of priority for preventative, shutdown, backlog, and ad-hoc underground maintenance work activities.

Mobile Maintenance Planner

As the planner, you develop maintenance plans in order of priority for preventative, shutdown, backlog, and ad-hoc maintenance underground work activities.