Newmont Sells Gold Royalty Portfolio for $90M
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.
Newmont’s ownership interest in Maverix will increase from 26% to approximately 32% after the closing of the transaction, which is expected to close in the fourth quarter of 2020.
Maverix’s diversified portfolio includes more than 100 royalties and streams across 18 countries, with assets predominately located in Australia the Americas and Mexico.
“This transaction further strengthens our strategic partnership with Maverix,” Newmont President and CEO Tom Palmer said.