Newmont Sells Royalty Assets to Franco-Nevada


Newmont Mining Corp. agreed to sell its royalty assets and certain other non-core investments to Franco-Nevada Corp. in a transaction valued at approximately $1.3 billion.The agreement marks the culmination of the process announced earlier this year by Newmont to monetize components of its royalty and equity portfolio to fund the development of its core gold business. Newmont expects to record a pre-tax gain from discontinued operations of approximately $0.95 billion in the fourth quarter in connection with the completion of the sale.

In connection with this transaction, Pierre Lassonde resigned from Newmont’s board of directors and will serve as Non- Executive Chairman of Franco-Nevada’s board of directors.

Richard O’Brien, Newmont’s president and CEO, said, “As we previously disclosed, we embarked upon a dual-track process to maximize the value of these assets for the benefit of our shareholders, and we are extremely pleased with the outcome. We remain focused on our core gold operations and intend to reinvest the proceeds to increase gold price leverage for our shareholders.”


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