BUZZ-Newmont gains on $100 million payment from China's Zijin Mining

-1.29%

-0.51%

-1.07%

-1.69%

Newmont Mining Corporation NEM	98.14	-1.29%
Dow Jones Industrial Average DJI	48458.05	-0.51%
S&P 500 index SPX	6827.41	-1.07%
NASDAQ IXIC	23195.17	-1.69%

** Shares of gold miner Newmont NEM.N rise ~2% to $63.40 premarket

** NEM says it received $100 million from China's Zijin Mining Group 601899.SS after Parliament of Ghana ratified the renewal of the Akyem East Mining Lease

** As per Newmont’s agreement to sell its Akyem operation, Zijin Mining Group had agreed to pay Newmont $100 million upon ratification

** "The payment has been received, bringing total after-tax cash proceeds from the sale of Akyem to approximately $770 million" - NEM

** NEM expects to generate $3.1 billion in after-tax cash proceeds from its divestiture program in 2025

** Up till last close, stock up 66.85% YTD

(Reporting by Sumit Saha in Bengaluru)

((Sumit.Saha@thomsonreuters.com;))

More This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.